NTFX Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
Business
License
CYSEC Unsubscribed 
Their $5,000 minimum deposit scares me, really! What’ the hell! I haven’t seen a broker asking for so high minimum deposit since I traded with many brokers. I looked through its website, only finding that spreads are not that competitive, not holding any valid license at all...frustrating, when all was said and done, I choose not to use this broker. I don’t want to waste my time and money here…
In our comprehensive review of NTFX, we find a broker that has garnered mixed feedback from users and experts alike. While it offers some attractive features such as high leverage and a low minimum deposit, concerns regarding its regulatory status and customer service raise red flags. This review aims to provide a balanced overview of NTFX based on user experiences and expert opinions.
Note: It is essential to consider that NTFX operates under different entities across various regions, which may impact the regulatory protections available to traders. This review has been crafted to ensure fairness and accuracy, drawing insights from multiple sources.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 4 |
| Customer Service and Support | 3 |
| Trading Settings | 6 |
| Trustworthiness | 2 |
| User Experience | 4 |
How We Rate Brokers: Our ratings are based on a thorough analysis of user feedback, expert opinions, and factual data regarding the broker's offerings.
Founded in 2016, NTFX is operated by NT FX Capital Ltd., which claims regulation by the Cyprus Securities and Exchange Commission (CySEC). However, multiple sources indicate that this regulatory status is currently questionable, as NTFX has been reported as "unsubscribed" by CySEC. The broker primarily uses the popular MetaTrader 4 platform for trading, offering access to various currency pairs but limited options in other asset classes such as CFDs on indices and commodities.
Regulated Geographical Regions: NTFX claims to be regulated by CySEC, but there are significant concerns about its current status. As per the latest reports, it appears that NTFX is no longer listed as a regulated entity, which could expose traders to higher risks.
Deposit/Withdrawal Currencies: NTFX supports deposits and withdrawals in several currencies, including USD, EUR, and GBP. The broker also facilitates various payment methods, including credit/debit cards and e-wallets like Neteller and Webmoney.
Minimum Deposit: The minimum deposit required to open an account with NTFX is relatively low at $30, making it accessible for new traders. However, some reviews indicate that other brokers in the region offer even lower minimums, which could be a drawback for NTFX.
Bonuses/Promotions: Currently, NTFX does not appear to offer any significant bonuses or promotions, which is a common practice among many brokers to attract new clients.
Tradable Asset Classes: NTFX primarily focuses on forex trading, offering around 30 currency pairs. However, it lacks the diversity of other brokers that provide access to stocks, commodities, and indices, which could limit trading opportunities for users looking for a more varied portfolio.
Costs (Spreads, Fees, Commissions): The typical spread for major currency pairs like EUR/USD is around 1.3 pips, which is average compared to industry standards. However, there are reports of additional fees for withdrawals, which could impact overall profitability.
Leverage: NTFX offers a maximum leverage of 1:500, which is attractive for traders seeking to amplify their positions. However, such high leverage also comes with increased risk, and traders should be cautious when utilizing it.
Allowed Trading Platforms: NTFX exclusively utilizes the MetaTrader 4 platform, which is widely regarded for its user-friendly interface and robust analytical tools. However, some traders may prefer more modern platforms with advanced features.
Restricted Regions: NTFX does not accept clients from several countries, including the United States, Canada, and Japan, due to regulatory restrictions. This limitation may hinder its market reach and availability for potential traders in these regions.
Available Customer Service Languages: Customer support is available primarily in English, which may not cater to a broader audience. Furthermore, reviews indicate that the quality of customer service is lacking, with users reporting long response times and inadequate support.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 4 |
| Customer Service and Support | 3 |
| Trading Settings | 6 |
| Trustworthiness | 2 |
| User Experience | 4 |
Account Conditions (5/10): NTFX requires a low minimum deposit of $30, which is appealing to novice traders. However, the lack of diverse account types and high minimum deposits for other account categories can be limiting.
Tools and Resources (4/10): While NTFX provides the MetaTrader 4 platform, which is rich in features, the absence of additional resources such as educational materials and advanced analytical tools is a downside.
Customer Service and Support (3/10): User feedback highlights significant issues with customer service, including slow response times and a lack of effective support.
Trading Settings (6/10): The trading experience is generally satisfactory, with high leverage options available. However, the limitations on asset classes can detract from the overall experience.
Trustworthiness (2/10): The regulatory ambiguity surrounding NTFX raises serious concerns about its reliability as a broker. The lack of current regulatory oversight is a significant risk for traders.
User Experience (4/10): While the trading platform is user-friendly, the overall experience is marred by regulatory concerns and customer service issues.
In conclusion, while NTFX offers some attractive features, potential traders should exercise caution due to its questionable regulatory status and mixed user feedback. As always, it is advisable to conduct thorough research and consider safer, regulated alternatives before committing funds.
