NPBFX is an online brokerage that was first founded in 1996 and is a part of NMarkets Limited, with a head office located in the Saint Vincent and the Grenadines. The online broker offers its clients access to the markets in Forex, CFDs, Spread-betting, and Social Trading.
In addition, NPBFX also has offers services to retail, corporate, and institutional partners. Over the years of operation, the online brokerage provides its services to over 200,000 people in its client base.
NPBFX gets their quotes from some of the biggest banks from all over the world including Deutsche Bank, Citi, BNP, Paribas, and HSBC.
NPBFX has also won several awards over the course of their years in operation, being voted for the “Best STP Broker” at the IAFT Awards three consecutive years in a row. The online brokerage has also bagged the “Best Execution Broker” at the 2017 China Forex Expo. One of its latest achievements was winning the title of the “Best Broker” in the 2018 IAFT Awards.
Below, we will look into a more in-depth look into the offerings and various key aspects of NPBFX and see whether the exchange still lives up to its reputation as well as some of its pros and cons.
NPBFX: Services and Offerings
While UFX offers the following services to clients residing in almost any part of the globe, some offers may differ depending on the location of the client. Furthermore, clients residing in Canada and the United States may also not be able to gain full access to its services due to legal restrictions.
• Trading Instruments
NPBFX offers a decent amount of financial instruments to their clients which includes over 38 Forex pairs, 2 Metals, 3 Commodities, and 6 Cryptocurrencies. However, many have expressed that its listings may be quite limited for the more seasoned of traders.
• Account Types
NPBFX currently has three account types that support all types of trading strategies – the Master account, the Expert account, and the VIP account.
The Master account can be opened with a minimum $10 deposit where clients can trade with spreads averaging from 1.2 pips with a maximum leverage of 1:100.
The Expert account can be opened with a minimum $5,000 deposit where clients can trade with spreads averaging from 1.0 pips with a maximum leverage of 1:200.
The VIP account, which is reserved for professional traders only, can be opened with a minimum $50,000 deposit where clients can trade with spreads averaging from 0.8 pips with a maximum leverage of 1:200.
NPBFX also offers swap-free Islamic accounts for those residing in Arab regions and those who practice Sharia law.
• Trading Platform
NPBFX mainly incorporates the MetaTrader4 (MT4) trading platform by MetaQuotes. MT4 is one of the leading trading platforms in the industry, most notable for its easy-to-use interface, lightning-quick execution time, and flexible customizability. It features real-time market quotes as well as over 80 pre-installed technical indicators, charting tools, and automated trading options, to name a few.
It is available for desktop, web browser, and mobile for iOS and Android.
• Payment Options
Payment options include credit/debit cards, bank wire transfers, and online payment services such as Neteller and Skrill. Deposits and withdrawals can also be done with cryptocurrency.
Withdrawals are usually processed within the same day, though it could take more if requests are done outside of business hours. Bank transfers usually take one to three business days to process, though some of the mentioned options can take a few seconds.
There are no fees for deposits; however, bank processing fees may apply depending on which service has been chosen. Online payment services may charge additional fees for deposits or withdrawals.
Most of the details is often subject to change and can be found in broker’s official website.
NPBFX: Is it safe?
Given the location of its head office, NPBFX is fully authorized and regulated by the Saint Vincent and the Grenadines Financial Service Authority (SVGFSA), holding the license number 24454 IBC 2018. However, this type of regulation is not highly regarded as a notable authoritative entity when compared with the other regulatory bodies such as the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investment Commission (ASIC).
NPBFX is also a member of the Financial Commission (FinaCom), an organization that mainly focuses on settling disputes between brokers and their clients. According to FinaCom, eligible clients may be entitled to compensation of up to €20,000, should the case side with the client or if the broker became insolvent.
With its highly competitive spreads and extremely reliable trade executions, it is no surprise how NPBFX has managed to be in operations since the 90’s. Its highly-regarded MT4 trading platform and trading conditions allow for almost any type of strategy by any client, whether seasoned or novice.
However, one of the downside to NPBFX may be its regulation. Since its SVGFSA is not fully regarded as a prolific or authoritative financial entity by most investors, clients who hold accounts wth the broker may have their funds at risk. It also does not help the online brokerage that NPBFX is considered as an offshore broker, which is mostly known for its shady reputation as most of the operations are carried out are just outside of financial jurisdictions.
If it wasn’t for its regulations, however, NPBFX may have been an ideal choice for those interested in participating in the market.