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Score

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/10
The WikiFX Score of this broker is reduced because of too many complaints!

NordFX

Saint Lucia|5-10 years| Benchmark C|
MT4 Full License|Regional Brokers|Vanuatu Retail Forex License Revoked|Suspicious Overrun|High potential risk|

https://nordfx.com/

Website

Rating Index

Benchmark

Benchmark

C

Average transaction speed (ms)

961.8 Poor

MT4/5

Full License

NordFX-Demo

Netherlands
MT4
6

Influence

A

Influence index NO.1

India 6.96
The WikiFX Score of this broker is reduced because of too many complaints!

Benchmark

Speed:D

Slippage:D

Cost:A

Disconnected:A

Rollover:AAA

MT4/5 Identification

MT4/5 Identification

Full License

6
Server Name
NordFX-Demo MT4
Server Location Netherlands

Influence

Influence

A

Influence index NO.1

India 6.96

Surpassed 33.87% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+44 7458197795
support@nordfx.com
https://nordfx.com/
Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Isletant Lucia

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

Danger

MY SCM
2022-01-01

Contact number

English

+44 7458197795

English

+66 600035101

English

+593 9-97-221410

English

+972 559662836

Broker Information

More

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 5
Previous Detection : 2024-05-30
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 19 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

NordFX · Benchmark
Average transaction speed(ms)
961.8 Poor
The highest transaction speed(ms)
736 Poor
The highest speed of opening positions(ms)
736 Poor
The highest speed of closing position(ms)
937 Poor
The lowest speed of opening positions(ms)
1313 Good
The lowest speed of closing position(ms)
1109 Good
Ranking: 106 / 134
Test user 295
Orders 2,987
Ocuppied margin $354,508 USD
Data Source WikiFX Data provide
Updated: 2024-05-29 01:05:SS

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    Sources

    NordFX · Company Summary

    Risk Warning

    Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

    General Information

    NordFX Review Summary in 10 Points
    Founded 2008
    Registered Country/Region Vanuatu
    Regulation VFSC (revoked), CYSEC (suspicious clone)
    Market Instruments Fx pairs, metals, cryptocurrencies, CFD indices & stocks, oil
    Demo Account Available
    Leverage 1:1000
    EUR/USD Spread From 2 pips (Fix accounts)
    Trading Platforms MT4
    Minimum deposit $10
    Customer Support 24/5 online chat, phone, email

    What is NordFX?

    NordFX is a forex broker that offers over 30 currency pairs, bitcoin, other cryptocurrencies, gold and silver for your personal investment and trading options. It was established in 2008 and is registered in Vanuatu. NordFX provides online trading platforms and free training. The MetaTrader platforms also provide automated trading and market signals. However, it currently does not have any valid regulation.

    NordFXs home page

    In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

    Pros & Cons

    NordFX offers a wide range of financial instruments, providing traders with diverse trading opportunities. The availability of MetaTrader 4 across multiple devices enhances the convenience and accessibility of trading.

    However, it is important to note that NordFX is an unregulated broker, which introduces higher risks to traders, especially regarding fund management and security. There have been reports of withdrawal issues, indicating potential challenges in this area.

    Pros Cons
    • Multiple trading assets and funding options • No regulation
    • Demo accounts available • Reports of issues with withdrawals
    • Low minimum deposit ($10) • Clients from USA, Canada, EU, Russian Federation, Cuba, Sudan and Syria are excluded
    • MT4 supported
    • Rich trading tools and educational resources

    NordFX Alternative Brokers

      There are many alternative brokers to NordFX depending on the specific needs and preferences of the trader. Some popular options include:

      • IC Markets - Best broker on the market with fast support and flawless spreads and order execution.

      • Roboforex - Fast money deposit and withdrawal with similar spreads and commission for Forex and gold as other brokers but on stocks roboforex is King.

      • AvaTrade - Good trading conditions overall with multiple CFD trading instruments and high number of forex pairs.

    Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

    Is NordFX Safe or Scam?

    NordFX does not hold any valid regulatory licenses at this stage and its Vanuatu Financial Services Commission (VFSA) license is revoked and Cyprus Securities and Exchange Commission (CYSEC, License No. 209/13) license is a suspicious clone.

    It is important to note that trading with an unregulated broker can be risky as there is no guarantee that the broker will act in the best interest of the trader. Regulated brokers are required to follow strict rules and regulations which are designed to protect traders from fraudulent activities.

    Market Instruments

    NordFX provides a diverse range of market instruments for traders to choose from. They offer a selection of FX pairs, allowing traders to participate in the foreign exchange market and take advantage of currency fluctuations.

    Additionally, NordFX provides access to trading metals, such as gold and silver, offering opportunities for investors interested in the precious metals market. Cryptocurrencies are also available for trading, allowing traders to speculate on the price movements of popular digital assets like Bitcoin, Ethereum, and more.

    Furthermore, NordFX offers CFDs on indices and stocks, enabling traders to trade popular global indices and individual stocks. Lastly, oil trading is available, allowing traders to participate in the energy markets by speculating on the price of crude oil.

    Accounts

    NordFX provides traders with a variety of account options to suit their individual needs. They offer demo accounts, allowing traders to practice their strategies and familiarize themselves with the trading platform without risking real money.

    For live trading, NordFX offers three main account types: Fix, Pro, and Zero. The Fix account has a low minimum deposit requirement of $10, making it accessible to traders with smaller capital. The Pro account requires a minimum deposit of $250 and provides additional features and benefits, such as lower spreads and access to a broader range of trading instruments. The Zero account, with a minimum deposit of $500, is designed for more advanced traders who require tight spreads and direct market access.

    Accounts

    Leverage

    NordFX offers traders competitive leverage options, allowing them to amplify their trading positions. With leverage of up to 1:1000, traders can control larger positions in the market with a smaller amount of capital. This high leverage enables traders to potentially generate higher profits from successful trades.

    However, it is important to note that while leverage can magnify profits, it also increases the risk of losses. Traders should exercise caution and carefully manage their risk when utilizing high leverage.

    Spreads & Commissions

    NordFX offers competitive spreads and commissions across its different account types. The Fix account has a spread starting from 2 pips, making it suitable for traders who prefer fixed spreads. The Pro account offers a tighter spread starting from 0.9 pips, appealing to traders who seek lower transaction costs. However, it's important to note that the Zero account stands out with a spread starting from 0.0 pips, providing traders with the potential for better pricing and reduced trading costs.

    While the Fix and Pro accounts do not charge any commissions, the Zero account requires a commission of 0.0035% per trade on each side. Traders should consider their trading preferences and strategies to choose the account type that best aligns with their needs.

    Below is a comparison table about spreads and commissions charged by different brokers:

    Broker EUR/USD Spread Commission
    NordFX From 2 pips (Fix) $0 (Fix, Pro)
    IC Markets From 0.0 pips $7 round turn
    RoboForex From 0.0 pips $0 (Pro)
    AvaTrade From 0.9 pips $0 (AvaTradeGO), $7 round turn (MT4/MT5)

    Please note that the spreads and commissions may vary depending on the specific account types and trading conditions offered by each broker. It's advisable to refer to the official websites or contact the brokers directly for the most up-to-date and accurate information.

    Trading Platforms

    NordFX provides traders with the popular and widely recognized MetaTrader4 (MT4) platform, available for Windows, Mac, iPhone, and Android devices. MT4 is known for its user-friendly interface, advanced charting tools, and a wide range of technical indicators and analysis tools. With MT4, traders can access real-time market data, place trades, set stop-loss and take-profit levels, and manage their positions efficiently.

    The platform also supports automated trading through expert advisors (EAs), allowing traders to implement and test their own trading strategies. Additionally, NordFX offers mobile versions of MT4, enabling traders to stay connected and manage their trades on the go.

    MT4

    Overall, NordFX's provision of MT4 across multiple devices ensures convenience, flexibility, and a seamless trading experience for its clients.

    See the trading platform comparison table below:

    Broker Trading Platforms
    NordFX MetaTrader 4 (MT4)
    IC Markets MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader
    RoboForex MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader
    AvaTrade AvaTradeGO, MetaTrader 4 (MT4), MetaTrader 5 (MT5), AvaOptions, AvaTradeAct

    Trading Tools

    NordFX offers a range of useful trading tools designed to enhance the trading experience and provide valuable market insights. Traders can access various analysis tools, including technical analysis reports and market news updates, which can help them make informed trading decisions. The Economic Calendar feature keeps traders updated on important economic events and their potential impact on the markets. NordFX also offers Trading Signals, which provide valuable trading ideas and recommendations generated by experienced analysts.

    For traders who require uninterrupted trading, NordFX offers Virtual Private Server (VPS) hosting, ensuring reliable and high-speed trading execution. Additionally, the Trader's Calculator helps traders calculate position sizes, profit/loss, and other important trading parameters. Lastly, the Currency Converter tool allows for quick and easy conversion of currencies. These trading tools provided by NordFX aim to empower traders with valuable information, analysis, and resources to support their trading strategies and decision-making processes.

    Trading Tools

    Deposits & Withdrawals

    NordFX offers a variety of convenient deposit and withdrawal options to cater to the diverse needs of its clients. Traders can fund their accounts using Bank Transfer, Bank Cards, Online Payment Systems, Online Exchange Services, and Internal Transfer.

    Base Currencies:

    USD, EUR, CNY, IDR, GBP, VND, THB, PHP

    NordFX minimum deposit vs other brokers

    NordFX Most other
    Minimum Deposit $10 $100

    The minimum deposit requirement is set at a low amount of $10, making it accessible for traders of different levels.

    Most deposits are free of charge and processed instantly, allowing traders to quickly start trading. Withdrawals are typically processed within 1 business day, ensuring efficient access to funds. However, it's important to note that withdrawal fees may vary depending on the chosen withdrawal method.

    Deposits
    Withdrawals

    Customer Service

    NordFX places a strong emphasis on customer support and offers multiple channels for traders to get in touch with their team. Clients can utilize the online chat feature on their website for immediate assistance, or they can opt to contact NordFX through phone or email. Additionally, traders have the option to send messages online for any inquiries or concerns they may have. NordFX also maintains an active presence on various social media platforms, including Telegram, Twitter, Facebook, Instagram, YouTube, LinkedIn, and Pinterest.

    Customer Service

    Overall, NordFX's customer service is considered reliable and responsive, with various options available for traders to seek assistance.

    Pros Cons
    • Multiple contact channels • Limited availability of 24/7 customer support
    • Social media presence for updates and announcements

    Note: These pros and cons are subjective and may vary depending on the individual's experience with NordFX's customer service.

    User Exposure on WikiFX

    On our website, you can see that some reports of unable to withdraw. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

    User Exposure on WikiFX

    Education

    NordFX provides a range of educational resources to support traders in their journey. They offer comprehensive information and resources on various topics, including Forex trading, through their dedicated Forex section. Traders can access a glossary that helps them understand key trading terms and concepts. Additionally, NordFX has a learning center that offers educational materials, tutorials, and guides to enhance traders' knowledge and skills. They also provide useful articles that cover market analysis, trading strategies, and other relevant topics.

    Education

    Conclusion

    In conclusion, NordFX offers a wide range of financial instruments, competitive trading conditions, and multiple trading platforms, making it an attractive choice for traders. However, it is important to note that NordFX is an unregulated broker, which may raise concerns regarding the safety of funds and overall credibility. Traders should exercise caution and carefully evaluate the associated risks before deciding to trade with NordFX. It is recommended to conduct thorough research, seek additional information, and consider alternative regulated brokers that provide stronger regulatory oversight and investor protection.

    Frequently Asked Questions (FAQs)

    Q 1: Is NordFX regulated?
    A 1: No. NordFX holds a revoked Vanuatu Financial Services Commission (VFSC) license and a suspicious clone Cyprus Securities and Exchange Commission (CYSEC, License No. 209/13) license.
    Q 2: At NordFX, are there any regional restrictions for traders?
    A 2: Yes. NordFX does not offer its services to residents of the following jurisdictions: USA, Canada, EU, Russian Federation, Cuba, Sudan and Syria.
    Q 3: Does NordFX offer demo accounts?
    A 3: Yes.
    Q 4: Does NordFX offer the industry leading MT4 & MT5?
    A 4: Yes. It supports MT4.
    Q 5: What is the minimum deposit for NordFX?
    A 5: The minimum initial deposit to open an account is $10.
    Q 6: Is NordFX a good broker for beginners?
    A 6: No. It is not a good choice for beginners. Though it advertises well, it lacks legitimate regulation.

    News

    NordFX In-Depth Review: Reliable Broker or Potential Scam?

    ExposureNordFX In-Depth Review: Reliable Broker or Potential Scam?

    2023-06-08 12:16

    Discover the truth about NordFX, a forex broker with a worrying absence of regulatory oversight and numerous trader complaints. Read our detailed review for insights.

    WikiFX
    2023-06-08 12:16
    Exposure
    NordFX In-Depth Review: Reliable Broker or Potential Scam?
    What to Expect from the Dollar and the Euro in 2023

    NewsWhat to Expect from the Dollar and the Euro in 2023

    2023-01-09 10:38

    We analyzed last week what happened to the two most popular currencies in 2020-2022, what forecasts were given then by the strategists of leading financial institutions for EUR/USD, and how accurate they turned out to be. Now it's time to tell what experts expect from 2023.

    WikiFX
    2023-01-09 10:38
    News
    What to Expect from the Dollar and the Euro in 2023
    WIKIFX REPORT: NordFX Records More Than 1.5 Million Accounts Opened

    NewsWIKIFX REPORT: NordFX Records More Than 1.5 Million Accounts Opened

    2022-06-01 15:20

    This fantastic number of accounts is a milestone for NordFX. The broker, which has been established since 2008, has also won various awards.

    WikiFX
    2022-06-01 15:20
    News
    WIKIFX REPORT: NordFX Records More Than 1.5 Million Accounts Opened
    $5.5 million: This Is How Much a Trader from India Earned at NordFX in Just One Month

    News$5.5 million: This Is How Much a Trader from India Earned at NordFX in Just One Month

    2021-12-16 12:43

    It is no secret that one can lose everything trading online in the financial markets. But how much can one earn? In this regard, the experience of the international brokerage company NordFX is interesting, as it publishes monthly reports on the results of its clients and partners.

    WikiFX
    2021-12-16 12:43
    News
    $5.5 million: This Is How Much a Trader from India Earned at NordFX in Just One Month

    User Reviews

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    User comment

    9

    Comments

    Write a review

    Huikn
    more than one year
    Its very expensive the fees even if you are a strandard or zero account , the spread is the only account who is kind of fair , but if you are a small trader you will only lose money again and again just dont lose your time
    2024-04-19 13:44
    Reply
    0
    0
    Arif1326
    0-3months
    Nord fx has low spread and very good broker .
    2024-03-12 23:42
    Reply
    0
    0
    FX1280227352
    more than one year
    Surprisingly, my withdrawal was proceeded quickly, and I never thought this step went so well. I only traded with Nord FX once, and I can tell you what I have experienced just now.
    2023-02-23 09:20
    Reply
    0
    0
    FX1206344406
    more than one year
    I enjoyed NordFX’s trading services and what they impressed me most was their quick withdrawal, and it is important for me. However, it does not provide 24/7 customer support, which may result in some inconvenience to some people.
    2023-02-15 09:43
    Reply
    0
    0
    more than one year
    Is there really a problem with Nord? I withdraw 2100 from November 30th to today’s 7th.
    2022-12-06 05:43
    Reply
    0
    0
    杜佳伟
    more than one year
    The withdrawal was too slow, I contacted customer service on QQ, and asked him to expedite my withdrawal because my family was sick and I was in a hurry to use the money, but the customer service was like an *****, only answering that I don’t know, let me wait patiently...
    2022-11-24 17:04
    Reply
    0
    1
    神鸟
    more than one year
    What this platform offers seem quite pretty, spreads from 0.0 pips, generous leverage up to 1:1000… But you know what? They just a shameless broker trying to use exaggerated advertisements to play with you, taking your money away. Before I trade with brokerage, I checked out many negative reviews about this platform, this makes me to abandon this broker immediately. I do hope you guys could not be defrauded by it.
    2022-11-24 13:31
    Reply
    0
    0
    阿光
    more than one year
    Please do not trade with nordfx! ! It claims to be regulated by a Vanuatu agency, but it is a complete scam! I have been scammed out of 6,000 US dollars, I hope this company is brought to justice as soon as possible.
    2022-11-21 09:49
    Reply
    1
    0
    FX4107440109
    more than one year
    It’s alright, normal deposits and withdrawals. I saw that the websites reported are all traded on the WeChat platform. At first glance, it is a fake platform. I have been using mt4 to play.
    2022-10-01 18:43
    Reply
    0
    0
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