- Competitive spreads and low commissions
- Excellent trading platforms
- Decent selection of tradeable assets
- Great customer service and support
- Limited choice of some tradeable assets
- Offshore trading brokerage
NordFX is an online international trading brokerage offering individual and corporate traders the opportunity to participate in the trading of forex and CFDs in various asset classes. NordFX was established in 2008 and is owned and operated by Nfx Capital Vanuatu Inc. The company has its headquarters based out of Vanuatu at Vantu House 133 Santina Parade, Elluk, Port Vila, Efate, Vanuatu, and therefore is regulated under the jurisdiction of the Vanuatu Financial Services Commission (VFSC). This regulatory agency may not be as well-known as some but is just as reputable as it works to preserve Vanuatu as an international financial center.
NordFX quickly became a trusted and widely used broker and received their first awards from industry reviewers in 2010 such as “Best Forex Dealing Service”. NordFX continues to provide exceptional trading services to their customers and strives to make trading in the financial markets easier, more effective, and convenient. NordFX accepts traders from all around the world and offers their services in 14 different languages. Though NordFX is a successful international trading brokerage, is it right for you? In the following review we’ll delve deep into the aspects that make up this online trading brokerage and see what sets NordFX apart from the competition and whether or not they can be trusted.
NordFX utilizes the most popular online trading platform in the world, the MetaTrader 4 (MT4) trading platform. This platform is widely used among traders and features a number of graphical tools, technical indicators, and one click trading for lightning fast execution of orders and technical analysis. As well, traders can implement a wide range of automatic trading strategies and scripts known as “Expert Advisors” (EAs) using the MetaQuotes Language 4 (MQL4). The MT4 trading platform is also very aesthetically pleasing and well designed, making it a great platform for not only experienced traders, but beginners as well. Also, the MT4 platform is available for Windows and Mac computers, as well as both Apple and Android mobile devices. See some of the key benefits of the NordFX MT4 trading platform below.
Advanced security of trading operations
Trading can be conducted with various time intervals
Multiple types of order execution (Instant Execution, Market Execution)
Create and implement your own or someone else’s indicators and scripts
Effective tools for real-time technical analysis
Incorporate news feeds from various sources
NordFX features a wide range of financial assets available to trade across numerous markets including the foreign exchange market (forex), cryptocurrencies, commodities, indices, and stocks. In total there are over 100 tradeable assets spread across these markets. Among these assets there are over 30 currency pairs including majors, minors, and exotic currency pairs. As for the assets where CFD trading is commenced, there are over 20 stocks, over 7 commodities, 20 indices, and 6 cryptocurrencies available to trade. This selection of tradeable assets is quite impressive, but not all these assets are available to traders, it depends on which type of account they have. For instance, there are 3 different account types; Fix, Pro, and Zero accounts.
Fees and commission
NordFX offers various fees for their clients which can accommodate each individual trader’s needs. For instance, traders who signed up for the most basic “Fix Account” have minimum spreads of 2 pips and do not incur commission. Traders with the “Pro Account” get spreads from 0.9 pips and do not incur commission. Traders with the “Zero Account” can achieve spreads of 0.0 pips but incur commissions of up to $4.50 per lot in each side. Overall spreads and commissions are quite competitive with the industry standards and traders can choose which account type fits their trading needs best in order to benefit with lowest fees.
Security and Fairness
NordFX has built up an excellent reputation over the years and has won numerous awards for their competence as an online trading brokerage in the financial services industry. NordFX is also regulated by the Vanuatu Financial Services Commission (VFSC) which helps to ensure the broker is safe, secure, and fair to their clients. As well, NordFX employs the latest and greatest security and encryption technology on their servers for the protection of client information, funds, and data. NordFX is also very fair with their clients in offering them access to all the same platforms and services. However, NordFX does favor clients who make larger deposits by offering them favorable spreads and commissions. Though, this can be viewed as a good thing, as the broker rewards those who dedicate more time and money into their platform.
NordFX provides their clients with excellent customer support services that are available 24 hours a day, 5 days a week. Support representatives can be contacted through email, live chat, a web contact form, or through telephone. Support is also available in multiple languages, with telephone support offered in Chinese, Indian, Russian, Sinhala, and English. Support representatives have been reported to be relatively quick with their responses and helpful and professional as well. Additional methods of support include the websites extensive FAQ page and informative education center.
Overall, NordFX competently provides investment services for the trading of forex and CFDs on a variety of investment products. The brokerage is internationally recognized and is regulated by a reputable regulatory authority. Also, NordFX features the most popular MT4 trading platform for their clients as well as very competitive and low fees. Customer support is another area NordFX does well in and they have won numerous awards in this area. All in all, NordFX is a good forex and CFD trading brokerage. While there may be better options out there, NordFX holds their own in a competitive and saturated industry.
The following are the common questions that customers inquired about NordFX.
Is NordFX regulated?
Yes, it is regulated by the Vanuatu Financial Services Commission (VFSC).
Is NordFX a scam?
No, NordFX is a legit broker with a great reputation.
Where is NordFX based?
NordFX is based out at Vanuatu at Vantu House 133 Santina Parade, Elluk, Port Vila, Efate, Vanuatu.