NordFX Review 2022

NordFX Video Review

Investor Protection & Regulations

NordFX is a trademark of NFX CAPITAL VU INC and is authorised and regulated offshore by the Vanuatu Financial Services Commission (VFSC), as shown on the regulator’s register below:

The broker’s client agreement does state negative account balances are restored to zero and client funds are separated from company funds.

Tradable Products

NordFX offers the ability to trade on more than 100+ financial CFD instruments covering Forex, Indices, Commodities, Metals, Shares and Cryptocurrencies. Below is a list of just some of the available markets for trading:

*Cryptocurrencies are traded on https://nordfx.io/.

**Details regarding the available assets are taken from the NordFX website and trading platform and are correct at the time of this review. You can find a more detailed list here.

Trading costs such as spreads and overnight funding (swap) rates vary depending on the entity, account type opened and instrument being traded and are covered further down this review.

Account Opening

NordFX offers four main account types – Fix, Pro, Zero and the Savings account as well as Islamic (swap-free) and demo accounts. The main features of each account are summarised in the below table:

The NordFX Savings account is an interest-based account on deposited and loan funds on invested capital. The minimum deposit is $500 and the account balance is only in USDT, DAI, BUSD and other stablecoins. Interest is paid daily and is floating depending on the market.

Users can open a new account in just a few steps, as described below:

1. Sign Up: Name, email, contact number, currency, leverage and account type.
2. Verify Identity: Submit proof of identity (ID or passport) and residence address (utility bill or bank statement – not more than 3 months old).

The client portal is shown below:

NordFX does not offer services in the USA, Canada, EU, Cuba, Sudan, Syria, and North Korea.

Deposit & Withdrawals options

NordFX offers clients the ability to deposit and withdraw funds using a variety of methods including debit/credit card, bank wire, Neteller, Skrill, WebMoney, Perfect Money and more. The below tables show the respective accepted currencies, fees, and transfer periods for some of the popular funding methods:

Clients can deposit and withdraw funds through the client portal.

Web & Desktop Trading Platforms

NordFX offers users the ability to trade through the popular MetaTrader 4 trading platform for PC and MAC. The platform features are highlighted below:

NordFX MetaTrader 4 (PC/MAC)

• Fully customisable
• Advanced charting capability
• Range of tools and indicators
• Interactive Charts
• Expert Advisors

A screenshot of the NordFX MetaTrader 4 (PC) trading platform is shown below and is covered in more detail in the video review.

Mobile Trading Platforms

NordFX offers the ability to trade on the go via the MetaTrader 4 mobile app for Android and iOS devices. All app download links can be found in the Google PlayStore or Apple AppStore.

The NordFX MetaTrader 4 mobile trading app provides a range of different features including:

• Trade and manage your account on the go
• 9 time-frames
• 3 types of charts
• Full set of trade orders

The NordFX MetaTrader 4 mobile trading app is covered in more detail in the video review.

Trading Features

NordFX offers various additional trading features including investment funds, copy trading and a Virtual Private Server (VPS). Currently, there are five investment funds: Pro-Expert Fund, Industry Fund, Corona Plus Fund, Corona Minus Fund and a Pro-Tech Fund. Each fund invests in a basket of stocks that fit the fund’s overall strategy and users can start to invest with a minimum of $500.

Copy-trading allows users to copy the trading activity of top signal providers. Experienced traders can earn additional profit by selling their trading signals and beginners by copying them. Furthermore, users can request a Virtual Private Server (VPS) for ultrafast execution speeds and 24/7 uptime for 13.95 USD per month.

With NordFX you can also access PAMM Trading. This is where you can either register as a:

• PAMM Manager so you can have investors follow your trading for a fee. You have to open a Pro or Zero account and you can trade forex, cryptos, silver, oil and stock indices. 
• PAMM Investor so you can follow a PAMM Manager of your choosing. You are able to view their performance and strategy results and then enter your investment for them to trade your funds.  

Commissions & Spreads

Trading costs with NordFX vary depending on the market being traded and the account type opened. The Fix and Pro accounts are commission-free with slightly larger spreads whereas the Zero accounts are commission-based but with raw spreads. Overall, costs are transparent and competitive.

The below table shows the average spreads for each account:

For non-Islamic accounts, overnight funding or ‘swap’ fees are also charged on positions that remain open overnight (22:00) GMT. If positions are being held over the weekend a three-day ‘swap’ charge will be charged on Wednesdays.

The broker does charge a 10 USD (per month) inactivity account fee if there has been no account activity for 365 calendar days.

Bonus & Promotions

As NordFX is located offshore there is a $100,000 Super Lottery promotion available until December 31, 2021. To qualify, users must deposit at least $200 into their account and trade a minimum of 2 lots during the lottery period.

Customer Support

NordFX offers multilingual (English, Spanish, Chinese, Arabic, Hindi, Bengali, Farsi, Indonesian, Thai, Sinhalese, Vietnamese) customer support 24/5 via Live Chat, Email and Phone. There is also a contact form on the support section of the website.

After testing the live chat function, we were greeted by an agent after 1 minute who answered our question promptly, as shown below:

• Address:
  • Pot 805/103 Rue D’Auvergne, Port Vila, Vanuatu.
• Phone:
  • +91 120 4333948

Email:

• • support@nordfx.com
• Social:
  • Facebook
  • Twitter
  • Instagram
  • Linkedin
  • Telegram
  • YouTube

Research

NordFX provides a variety of market research including Market Analysis, Trading Signals, an Economic Calendar, a Trader’s Calculator and a Currency Converter. Some of the main research available is explained below:

• Market Analysis: Provides weekly upcoming news stories and events across the globe as well as a comprehensive analysis of Forex and Cryptocurrencies.
• Trading Signals: Users can open a MQL5.community account and subscribe to trading signals which are copied directly to their NordFX MetaTrader 4 account.
• Economic Calendar: Users can keep up to date with current and future economic events and data releases.
• Trader’s Calculator: Users can enter the parameters of a trade and calculate the potential profit.
• Currency Converter: This tool provides an instant exchange rate between any two currencies.

Overall, the market analysis section is comprehensive and includes a lot of the upcoming news and events each week but the content is only in article format. Trading Signals are also useful to newer traders as they can copy the trades of more experienced traders simply through a subscription.

Trader Education

NordFX provides a range of educational material through its learning centre that includes Articles, Forex Videos and a Glossary. The content in the article section is detailed and is updated monthly but the forex videos do cover a wider range of topics and are also sorted by category: Beginners, Advanced, Terms, Strategies and MetaTrader. Users will need to have an account to access the majority of videos in this section. There is also a comprehensive glossary with key trading terms and their definitions.

Trading Experience

NordFX offers a great all-around service to users allowing them to access over 100+ financial CFD instruments covering Forex, Indices, Commodities, Shares and Cryptocurrencies, all through the globally popular MetaTrader 4 trading platform for PC and MAC.

There are four main account types to choose from – Fix, Pro, Zero and the Savings account. The Fix and Pro accounts are commission-free with slightly larger spreads whereas the Zero accounts are commission-based but with lower spreads. 

As NordFX is based offshore, users can take advantage of the $100,000 Super Lottery promotion available until December 31, 2021. Additionally, there is a range of funding methods available a great choice of trading features, market research and education material.

FAQ

Conclusion

NordFX was founded in 2008 and is a Forex and CFD broker authorised and regulated offshore by the Vanuatu Financial Services Commission (VFSC). The broker provides the ability to trade on more than 100+ financial CFD instruments covering Forex, Indices, Commodities, Shares and Cryptocurrencies, all through the globally popular MetaTrader 4 platform for PC and MAC.

Users can choose from three main account types called Fix, Pro and Zero. The Fix and Pro accounts are commission-free with slightly larger spreads whereas Zero accounts are commission-based but with raw spreads. Demo and Islamic (swap-free) accounts are also available. The Savings account is for account balances in stablecoins only. Demo and Islamic (swap-free) accounts are also available.

There are a variety of funding methods available including debit/credit card, bank wire, Neteller, Skrill, WebMoney, Perfect Money and more. The majority of deposit methods are fee-free, however, there are charges for some withdrawal methods. Users can also take advantage of the $100,000 Super Lottery promotion available until December 31, 2021.

The broker offers a range of educational and research material including Market Analysis, Trading Signals, an Economic Calendar, Forex Videos, a Glossary and more. The broker also provides multilingual customer support available 24/5 through Live Chat, Email and Phone.

• 100+ financial CFD instruments.
• Commission-free trading available.
• MetaTrader 4 available
• 24/5 customer support