NordFx

nordfx review

NordFX

NordFX is an international online Forex broker established since 2008 and been one of the most used Forex broker in the world. Currently they support up to 30+ pairs of currencies , precious metal and cryptocurrencies.

PROS


  • A very reputable broker
  • Cryptocurrency supported
  • High leverage
  • Competitive spreads

CONS


  • Offshore broker
  • No CFD support

Starting deposit

To start trading at NordFx , you would have to register an account at NordFX and pick an account type. There are total 3 account to choose from with different types of benefits and function. These are the available account type

Fixed


  • Minimum Deposit : 100$
  • Minimum Trade Size : 0.01
  • Max leverage : 1:1000
  • Spreads : 2 PIP ,fixed

Pro


  • Minimum Deposit : 200$
  • Minimum Trade Size : 0.1
  • Max leverage : 1:1000
  • Spreads : From 0.9 PIP

Zero


  • Minimum Deposit : 500$
  • Minimum Trade Size : 0.1
  • Max leverage : 1:1000
  • Spreads : From 0 PIP + $3.5 – $5/lot

With the options of account above, which a minimum of 100$ will be required to start trading.

Reputation

Since NordFX is an offshore forex broker thus it is not recommended to do a big amount of investment on it as there are a possibility that your investment get cut off suddenly. Once you are cut off from your broker, you will have no way to retrieve any of your investment. However NordFX is a very reputable forex broker that have been operating since 10 years ago and have won awards almost every single year since 2012. They are regulated and operating with NFX CAPITAL CY LTD, which is regulated by CySEC in Cyprus. It also has a subsidiary that is licensed by the Securities and Exchange Board of India (SEBI).

Payment Method

NordFX provides a very wide option for both deposit and withdrawing options. The following payment methods are available: bank wire transfer and e-wallet systems, varies from but not limited to Skrill, Neteller Payza, OKPAY, FasaPay, Payza, Webmoney, Perfect Money, Qiwi, Yandex.Money Dengi online and more might be added in the future.

Trading in NordFX

To trade in NordFX , one must first install and integrate suitable trading platform with NordFX. NordFX used to support both MT4 and MT5 , however MT5 is discontinued from their support , thus MT4 or MT4 Multiterminal is still the most used trading platform. The difference of Multiterminal is that it supports business scale trading.

NordFX provides leverage of 1 : 1000 which enables traders to invest into a very high number with lesser cost , of course the risk and lost will subsequently higher. Unless you know what you are doing, it is not advisable to trade in high stakes on an outshore Forex broker. In case broker shuts you off, you’re off with nothing.

For the PIP and spreads on NordFX, different types of accounts will have different rates of PIP where Fixed account will have a fixed rate of 2PIP, Pro with 0.9 PIP and Zero with 0PIP + 3.5$ – 5$/lot. This will also entirely affect how much you could earn or lost. Thus , Fixed account will be more idle to small trade as the your profit or lost are fixed.

Recommendation

Given if one would like to try on Forex, NordFX do provide a demo account that allows new entry to try out the trading first hand. The reading in demo will follows exactly like the live version, thus allowing you to know how everything works before getting into it. There are also issues where new entry start out big just because the demo works out well , end up losing even more . Thus, think and plan carefully before making each trade and Happy trading.

Share This Post
Have your say!
0 0

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>