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NordFX Broker Review 2023

NordFX Broker Review 2023

Update: December 2023

NordFX Overview & Awards

  • Best Forex Broker – Forex Awards 2023
  • Best Execution Broker – Forex Awards 2022
  • Best Forex Expo – Forex Awards 2021
  • Cryptocurrency and Forex Broker – Forex Awards 2020
  • Best Micro Forex Broker – Forex Awards 2019
  • Best CFD Broker Asia – Forex Awards 2018
NordFX
NameNordFX
OfficesRussia, Indonesia, India, Thailand, Vietnam, Myanmar, Kazakhstan, Uzbekistan, Azerbaijan, Georgia, Armenia, Belarus, Ukraine, Moldova
Established since2008
Minimum Deposit$10
Account currencyUSD, EUR, GBP, RUB, IDR, VND, THB
Leverage Up to 1:1000
Spreads on accountsFrom 0 pips
Trading Accounts Standard, Pro, Zero
Instruments OfferedForex, CFDs, metals, indices, cryptocurrencies
Trading PlatformMetaTrader 4, MetaTrader 5, WebTrader
VPS hosting SupportedYes
RegulationCyprus Securities and Exchange Commission (CySEC), Vanuatu Financial Services Commission (VFSC)& Financial Commission (FCM

NordFX Regulation and Security

NordFX is a multi-regulated forex broker, holding licenses from three reputable regulatory bodies:

Vanuatu Financial Services Commission (VFSC): NordFX holds a Class A license from the VFSC, which is the primary financial regulatory authority in Vanuatu. This license mandates NordFX to comply with strict financial and operational standards to protect client funds and ensure fair trading practices.

Cyprus Securities and Exchange Commission (CySEC): NordFX also maintains a Category A license from CySEC, the financial regulator of Cyprus. This license further strengthens NordFX’s regulatory standing and demonstrates its commitment to upholding high standards of investor protection.

Financial Commission (FCM): NordFX is a member of the Financial Commission (FCM), an independent dispute resolution body for forex and CFD brokers. Membership in the FCM provides additional safeguards for NordFX clients, offering a neutral platform to resolve disputes and access a compensation fund in case of broker insolvency.

Security Practices

In addition to its regulatory oversight, NordFX employs robust security measures to protect client funds and data. These measures include:

Dedicated Segregated Accounts: Client funds are held in segregated accounts, which are separate from NordFX’s operational accounts. This segregation ensures that client money is not used for the broker’s own purposes and is protected in case of insolvency.

Multi-level Authentication: NordFX implements multi-level authentication (MFA) for all account logins and withdrawals, requiring a combination of username, password, and additional security measures such as SMS verification or biometric authentication.

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Data Encryption: NordFX utilizes industry-standard encryption protocols to protect sensitive client data, including personally identifiable information and trading account details. This encryption safeguard ensures that data remains confidential and secure from unauthorized access.

Vulnerability Management: NordFX conducts regular vulnerability assessments and penetration testing to identify and address potential security gaps in its systems. This proactive approach helps prevent cyberattacks and data breaches.

Sign up with a trading account with NordFX

Get the best Low Spread Forex Brokers to trade Forex, Stocks, Indices, and Commodities
– Instant ECN Execution Trading with NordFX

Eightcap Trading Accounts

NordFX offers four main trading accounts to cater to different trading styles and needs:

Standard Account: This account is suitable for beginners and traders seeking basic trading features. It offers competitive spreads, a choice of leverage up to 1:500, and access to a wide range of trading instruments.

Zero Account: Designed for experienced traders seeking low spreads and tight spreads, the Zero Account charges a commission instead of a spread markup. It offers a maximum leverage of 1:1000 and access to exclusive MT4 features.

Prime Account: Targeted towards high-volume traders, the Prime Account provides access to tighter spreads, a more personalized account manager, and dedicated support channels. It offers maximum leverage of 1:500 and access to a wider range of exotic currency pairs.

ECN Account: For traders seeking direct market access and ultra-low spreads, the ECN Account provides access to market-leading liquidity providers. It offers zero commission trading, a maximum leverage of 1:200, and access to a wider range of derivative instruments.

FeatureStandardProZero
Minimum Deposit$10$10$10
Account currencyUSD, EUR, GBP, RUB, IDR, VND, THBUSD, EUR, GBP, RUB, IDR, VND, THBUSD, EUR, GBP, RUB, IDR, VND, THB
LeverageUp to 1:1000Up to 1:1000Up to 1:1000
Instruments OfferedForex, CFDs, metals, indices, cryptocurrenciesForex, CFDs, metals, indices, cryptocurrenciesForex, CFDs, metals, indices, cryptocurrencies
Trading Platforms supportedMetaTrader 4, MetaTrader 5, WebTraderMetaTrader 4, MetaTrader 5, WebTraderMetaTrader 4, MetaTrader 5, WebTrader
Spreads on accountsFrom 0 pipsFrom 0 pips
From 0 pips
 Open an Account Open an Account Open an Account

NordFX’s various trading accounts cater to diverse trading styles and preferences, providing flexibility for traders to choose the account that best suits their individual needs.

NordFX Trading Instruments

NordFX offers a diverse range of trading instruments across various asset classes, catering to a wide range of trader preferences and strategies:

Forex: Trade over 45 currency pairs, including major, minor, and exotic pairs, with competitive spreads and tight spreads on the ECN account.

Commodities: Take advantage of the volatility and potential profits of commodities like gold, silver, oil, and natural gas.

Cryptocurrencies: Trade the world’s leading cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Ripple, offering access to the dynamic cryptocurrency market.

Indices: Trade equity market indices like the S&P 500, DAX, and Nikkei 225, providing exposure to the broader stock market movements.

Stocks: Access global stocks from various exchanges, including the US, UK, and Europe, allowing for targeted stock market trading.

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NordFX Fees & Commissions

NordFX offers transparent and competitive fees for its various trading accounts:

Standard Account: Charges a spread markup on all trades, with average spreads varying depending on the instrument.

Zero Account: Charges a commission instead of a spread markup, offering tighter spreads. The commission is typically deducted from the profit or loss of the trade.

Prime Account: Offers tighter spreads and a commission structure that rewards higher trading volumes.

ECN Account: Charges zero commission and provides access to ultra-low spreads through direct market access.

Cryptocurrency Account: Charges a commission for all cryptocurrency trades, with the commission varying depending on the specific cryptocurrency.

NordFX also offers a fixed deposit bonus program, where traders can earn bonus funds for depositing a certain amount into their trading account

Sign up with a trading account with NordFX

Get the best Low Spread Forex Brokers to trade Forex, Stocks, Indices, and Commodities
– Instant ECN Execution Trading with NordFX

NordFX Execution and Spreads

NordFX prioritizes rapid and reliable order execution to maintain competitive trading conditions:

  • Direct Market Access (DMA): NordFX’s ECN account provides direct market access to liquidity providers, minimizing the intermediary chain and ensuring faster execution.
  • Supercharged Execution: NordFX’s proprietary technology enables ultra-fast order execution, ensuring that trades are executed at the most favorable prices.
  • Negative Balance Protection: NordFX implements negative balance protection, safeguarding traders from exceeding their account balance with additional losses.
  • No Requotes: NordFX guarantees no requotes, ensuring that the price displayed at the time of order placement remains the execution price, minimizing slippage.

NordFX Markets and Products

NordFX provides access to a wide range of markets and products, catering to a diversified trading universe:

  • Spot Markets: Trade the underlying assets of forex, commodities, indices, and stocks.
  • Derivative Markets: Trade CFDs (contracts for difference) on forex, commodities, indices, and stocks, offering leveraged exposure to these markets.
  • Cryptocurrencies: Access the world of cryptocurrencies through CFDs and spot trading, allowing for speculation on price movements.
  • ETF Trading: Trade ETFs (exchange-traded funds), which track the performance of specific market indexes or asset classes.

NordFX

NordFX Trading Conditions

NordFX provides favorable trading conditions to support its traders’ success:

  • High Execution Speed: NordFX employs advanced technology to ensure rapid and reliable order execution, minimizing slippage and providing traders with the best possible trade execution.
  • Tight Spreads: NordFX offers competitive spreads on all instruments, particularly on its ECN account, allowing traders to maximize their profits.
  • Raw Pricing: The ECN account offers direct market access to liquidity providers, providing traders with raw pricing without any markups or commissions.
  • Leverage: NordFX offers a variety of leverage options to suit different trading styles and risk tolerances, with maximum leverage up to 1:1000.
  • Margin Requirements: NordFX maintains reasonable margin requirements to ensure that traders have sufficient collateral for their trades.

NordFX Deposit & Withdrawal Methods

NordFX offers a variety of convenient and secure deposit and withdrawal methods to facilitate seamless transactions:

Bank Wire Transfer: A traditional method for large deposits, offering fast processing times.

Credit/Debit Cards: Convenient and fast deposits, processed directly through the trader’s card provider.

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Electronic Payment Systems: Rapid and secure deposits and withdrawals using popular e-wallets like Skrill, Neteller, and WebMoney.

Cryptocurrency Wallets: Support for cryptocurrency deposits and withdrawals, offering alternative payment options.

NordFX Trading Platforms

NordFX provides two powerful trading platforms to cater to traders’ preferences and technical needs:

MetaTrader 4 (MT4): The widely used and feature-rich platform, offering advanced trading tools, indicators, and automated trading strategies.

MetaTrader 5 (MT5): The next-generation platform with enhanced capabilities, including multi-terminal functionality, integrated trading signals, and advanced charting tools.

Both platforms are available in desktop, web, and mobile versions, providing flexibility for traders to access their accounts anytime, anywhere.

NordFX Pros and Cons

NordFX offers a compelling blend of features and advantages, along with some areas for improvement:

Pros:Cons
Multi-regulated with strong regulatory oversight from VFSC, CySEC, and the Financial Commission (FCM).
Wide range of trading instruments, including forex, commodities, cryptocurrencies, indices, and stocks.
Competitive spreads and low commissions, particularly on the ECN account.
Fast and reliable order execution with direct market access (DMA).
Secured trading environment with dedicated segregated accounts and robust security measures.
Variety of educational resources and training materials to support traders’ learning.
User-friendly trading platforms, MT4 and MT5, with advanced features and tools.
Spreads on some accounts can be wider compared to some competitors.
Margin requirements may be higher than some brokers for specific instruments.
Withdrawal processing times may vary depending on the payment method.
Customer support could be more responsive and proactive in addressing inquiries.

NordFX Customer Support

NordFX provides responsive and multilingual customer support to address traders’ queries and concerns:

24/5 live chat support: Immediate assistance via live chat, available around the clock.

Email support: Email support is available for more detailed inquiries or complex issues.

Telephone support: Telephone support is available in multiple languages for urgent matters.

NordFX Education and Training

NordFX prioritizes trader education and provides a comprehensive suite of educational resources:

Trading Academy: A comprehensive online trading academy with video tutorials, articles, and market analysis.

Trading Signals: Access to free and premium trading signals to guide trading decisions.

Webinars and Seminars: Regular webinars and seminars offered to enhance traders’ knowledge and skills.

NordFX Trading Tools and Resources

NordFX offers a range of trading tools and resources to support traders’ success:

Market Analysis: Real-time market news, technical analysis, and expert insights.

Economic Calendar: Daily economic calendar to inform traders of upcoming market events.

Trading Simulator: Practice trading without risking real money in a simulated environment.

Mobile Trading Apps: Access your trading account and manage your trades on the go.

NordFX Promotional Campaigns

NordFX regularly offers promotional campaigns to attract new clients and reward existing traders. These promotions typically involve deposit bonuses, loyalty programs, and trading contests.

Deposit Bonuses: NordFX offers deposit bonuses to incentivize new traders to open accounts and deposit funds. These bonuses are typically credited to the trader’s account as additional funds to trade with.

Loyalty Programs: NordFX has a tiered loyalty program that rewards traders based on their trading volume. The higher the trading volume, the higher the rewards, which can include cashback, rebates, and exclusive bonuses.

Trading Contests: NordFX hosts regular trading contests with attractive prizes for the top performers. These contests provide an opportunity for traders to test their skills and compete for rewards.

To stay updated on the latest NordFX promotional offers, traders can visit the broker’s website or sign up for email notifications.

NordFX Login

To login to your NordFX trading account, you will need to visit the broker’s website and click on the “Login” button. You will then be prompted to enter your account username and password. If you have forgotten your password, you can click on the “Forgot Password” link and follow the instructions to reset it.

Sign up with a trading account with NordFX

Get the best Low Spread Forex Brokers to trade Forex, Stocks, Indices, and Commodities
– Instant ECN Execution Trading with NordFX

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Cory has been a professional trader since 2005, and holds a Chartered Market Technician (CMT) designation. He has been widely published, writing for Technical Analysis of Stock & Commodities magazine, Investopedia, Forbes, Benzinga, and others.