Is Nord FX a Brokerage Firm We Can Truly Rely On?
This review is the result of an exhaustive examination of the NordFX’s offers and services. The review team had spent months to administer such so as to come up with a pointed and well-informed assessment of NordFX’s overall capabilities.
To serve this cause, the review team had examined the following aspects of NordFX’s service:
- The firm’s regulatory status
- The trading instruments available to the firm’s clients
- The trading platforms that the firm offers
- The trading accounts that the firm provides its clients
About Nord FX
NordFX was founded back in 2008. Since its inception, Nord FX had already specialized in offering provisions for Margin Trading and ECN Accounts. The brokerage firm is operated and owned by NFX Capital Vu Inc. which is registered and has its base of operations in the Republic of Vanuatu.
Operating in Cyrpus, Nord FX operates under NFX Capital CY Ltd. This allows the firm to conduct business within a number of European regions.
The ECN accounts offered by NordFX allow for the clients’ liquidity providers to be outsourced. This direct connection permits the acquisition of spreads nearer the markets.
As a brokerage firm that specializes in margin trading, NordFX opens access to the Forex, Equities, Metals, and Cryptocurrencies markets. The leverage provided for the firm’s clients can reach up to 1000:1.
As of writing, NordFX has over 1.2 million active accounts worldwide; the firm’s clients come from over 200 different countries.
A point that can be seen against NordFX is that it remains to be prevented from serving traders from select regions of the world. This is because of some restrictions in the reach of the financial bodies that regulates its trading activities. The United States is one such country that even a number of other brokerages are not allowed to operate in.
NordFX is a recipient of two regulatory licenses. The first license was issued by the Vanuatu regulatory authority, Vanuatu Financial Services Commission (VFSC) for the NFX Capital Vu. The second license came from CySEC for NordFX’s operations as NFX Capital CY.
Offers and Services
Accessible Trading Instruments
NordFX gives its clients the chance to trade Oil, Foreign Currency, Metals, Equity indices, and Cryptocurrencies. Access to these assets is dependent on the account the trader had chosen to open. In the same vein, the offering of a specific trading platform depends on the trading account the trader uses.
Through NordFX, a total of 20-30 Foreign Currency Pairs are allowed to be transacted with. A trader may also trade Gold and Silver among the firm’s offered commodities.
NordFX clients are also given the opportunity to trade Equity index CFDs through contracts on indices from the likes of Nasdaq and Dow Jones.
For traders wanting to get their hands on Cryptocurrencies, 15-17 crypto pairs are available, which is of course reliant on what platform the traders have chosen. The Cryptocurrencies that are available for trading include Bitcoin, Ripple, ZCash, and Monero just to name some.
Available Trading Accounts
Including the Demo Account that NordFX provides its clients for them to do simulated trades through, the firm offers a total of 4 trading accounts.
The three accounts and the features and offers that come with them are specified within the table below:
Offered Trading Platforms
NordFX had recognized the apparent gratuitous benefits of partnering with MetaQuotes. Such partnership had permitted the firm to provide its two widely-known and well-reviewed platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
MetaTrader 4 (MT4)
Fast in trading executions, MetaTrader 4 (MT4) is admired by the online trading community for its efficiency. Its popularity is duly merited and its standout features usually highlighted in reviews. The platform has a reputation that makes it attractive to both seasoned and novice traders. The review team is actually clear on why this is so given its many advantageous features:
- One-click trading
- A number of technical indicators
- A selection of charting tools
- Expert Advisors (EAs) for automated algorithmic trading
- Advanced order types
MetaTrader 5 (MT5)
While not as popular as its predecessor, MT5 offers a great deal of notable features including:
- Wholly flexible lot sizing
- A number of funding and withdrawal options
- Tight spreads
- Market depth
The MetaTrader MultiTerminal
NordFX also offers the MetaTrader MultiTerminal. This platform was created for clients who handle more than just one trading platform. The MetaTrader MultiTerminal bears the same user interface as the MT4. The launching of trades in one platform will simultaneously be reflected across the other platforms that the trader uses.
Trade with Nord FX Today!
The aspects of NordFX’s service that had been discussed within this review places the firm in a positive light. This is contextualized through the following facets:
- The firm’s solid regulatory status
- The range of trading instruments that NordFX are allowed to trade
- The efficiency of the trading accounts the firm offers
- NordFX’s specific offerings through its trading accounts
