NordFX broker review

NordFX

– ECN/STP broker specialized in Forex and CFD

-Regulated by organizations such as CySEC

-Tight spreads and low commissions

NordFX – Forex Broker Review

In this review we present one of the most important brokers in the market, NordFX, an international broker with more than 12 years of experience operating in the financial markets. Stay until the end to find out all the necessary information about this broker, as we will do a complete tour of everything it offers to its clients.

Nordfx is a regulated Forex and broker created in 2009 that offers non dealing desk execution (NDD) and multiple options of trading accounts, instruments to trade and platforms for its clients, including applications for automated trading.

In recent years it has expanded its services to cryptocurrencies. Currently, it not only offers the possibility of trading with cryptocurrencies, but also offers trading accounts denominated in crypto assets.


NordFX broker features

This broker was born in 2008 and since then it has achieved rapid growth with more than 50 prestigious professional market awards. It has clients trading from more than 190 countries around the world, in addition to having a wide variety of services and trading options that continue to attract the attention of the best traders in the market.

It has several versions of the most important trading platform available for traders to invest as they wish, as well as different types of trading accounts, various financial instruments within the Forex market, commodities, indices and more. In addition to this, it offers trading signals and a PAMM service, analytical materials and economic news to keep abreast of the latest market events, support 24 hours a day for 5 days a week and more.

Next, in this NordFX review we are going to present the main services of this company.


Type of broker

Nordfx is a NDD/STP broker specialized in Forex and CFD trading.


Regulation

NordFX has two regulatory licenses. They have a license issued by the Vanuatu regulatory authority for NFX Capital Vu, as well as a CySEC license for NFX Capital CY.

CySEC license of NordFX

CySEC regulated brokers must store their funds in a European Tier 1 bank that guarantees the security of deposits. All companies regulated by CySEC are also required to contribute to the Investor Compensation Fund.


Country of origin

The headquarters of the company are located in Mauritius with presence in other countries, including Cyprus and Vanuatu.


Review of NordFX -Trading Instruments

The clients of this broker can trade in the following markets:

  • Forex Market: 33 currency pairs in the spot market, from the most important ones like EUR/USD and GBP/USD to other more exotic ones like USD/TRY or USD/MXN. Regarding the trading conditions for the Forex market, NordFX offers a maximum leverage of 1:1000, a minimum transaction size of 0.01 lots, and extremely low fixed and variable spreads from 0 to 2 pips for major pairs.
  • Precious metals: Gold and silver in the spot market. In this case, the prices of these precious metals are speculated against the US dollar.
  • Contracts For Difference: CFDs based on various types of underlying assets, including the following:
    • 65 shares from different stock markets.
    • The most important stock indices in the market such as the S&P 500, NASDAQ 100, Dow Jones and Nikkei 225.
    • Crude oil (contracts based on WTI oil and Brent oil prices).
    • The most important cryptocurrencies on the market, such as Bitcoin, Ripple and Ethereum

Leverage: The exact leverage that a trader can obtain at NordFX will depend on the type of account he has, as well as the asset he is trading.

The maximum leverage for Forex trading is 1:1000. It is quite high leverage and more than what most traders need. This level of leverage is offered through the Vanuatu license, as the ESMA does not authorize a leverage greater than 1:30.

For Crude Oil CFDs the maximum leverage is 1:50. When it comes to cryptocurrencies, the maximum leverage depends on whether the trader is investing on the Metatrader 4 or Metatrader 5 platform.

Something quite unique that NordFX has are crypto index CFDs. Through these products, the trader can speculated in the following cryptocurrency baskets that are based on market capitalization weights of these digital assets:

This means that the trader can trade the top 10 Altcoins or the top 14 cryptocurrencies at the same time. This leads to better diversification from a risk perspective.


NordFX spreads and commissions

Since NordFX operates as an ECN broker, the spreads that the trader must pay in their operations are usually quite low and depending on the instrument and market conditions, they can even be close to 0.

Of course, this will depend on the type of asset you are trading, as well as the type of account. The following table shows the typical spreads NordFX offers on its different types of trading accounts:

Currency pairFix AccountPro AccountZero Account
EUR/USD20.90.0
USD/JPY20.90.1
EUR/GBP21.50.5
USD/SGD63.42.2
CHF/JPY82.21
GBP/AUD62.21.2

In fact, these spreads seem quite reasonable and are in line with what is offered by other ECN brokers on the market. As you can see, the Zero account has the lowest spreads, although in this account you will have to pay a commission of 0.0035% on each side of the trade (opening and closing of the position).


Trading Accounts of NordFX

Currently the broker NordFX offers 4 different types of accounts, according to the client’s profile. For example, there are trading accounts designed for large investors with experience in financial markets and for beginners who are just learning about the workings of these investment instruments.

NordFX trading accounts

-Fix Account: It is an account designed for beginner traders who have little experience in the markets and little initial capital for trading. It requires a minimum deposit of $10 and allows the client to trade 28 Forex currency pairs, 6 Index CFDs, Oil CFDs, Precious Metals, and 11 Cryptocurrency pairs. It offers a leverage of up to 1:1000, a minimum lot size of 0.01, fixed spreads from 2 pips for Forex and floating spreads from 1 pip for cryptocurrencies. It has instant execution of trades with 4-digit quotes and allows to open a maximum of 100 trades simultaneously. It also allows the use of automated trading systems (Expert Advisors) of Metatrader. It does not charge commissions for the client’s transactions.

  • Minimum deposit: $10
  • Leverage: up to 1:1000
  • Trading hours: 24 hours a day, 7 days a week
  • Account balance: in USD, ETH and BTC
  • Maximum open trades: 100
  • Maximum pending orders: 100
  • Execution: Instant execution
  • Automatic trading: allowed

-Pro Account: This account type is designed for traders with more experience and knowledge on financial markets. It requires a minimum deposit of $250  and allows the client to trade 33 Forex currency pairs, 6 Index CFDs, Oil CFDs, Precious Metals, and 11 Cryptocurrency pairs. It offers a leverage of up to 1:1000, a minimum lot size of 0.01, floating spreads from 0.9 pips for Forex and floating spreads from 1 pip for cryptocurrencies. It has market execution of trades with 5-digit quotes and allows a maximum of 100 trades to be opened simultaneously. It also allows the use of automated trading systems (Expert Advisors) of Metatrader. It does not charge commissions for the client’s trades.

  • Minimum deposit: $250
  • Leverage: up to 1:1000
  • Trading hours: for currency pairs, gold and silver from 00:00 from Monday to Friday until 22:00 and for crypto pairs the availability is 24/7.
  • Account balance: in USD, ETH and BTC
  • Maximum open trades: 100
  • Maximum pending orders: 100
  • Execution: Market execution
  • Automatic trading: allowed

-Zero Account: It is an account created for professional traders interested in currency trading under ECN trading conditions through the ECN network in which NordFX operates. Clients trading through a Zero account have access to liquidity from the interbank market with fast execution. It requires a minimum deposit of $500 and allows the client to trade 33 Forex currency pairs, 6 Index CFDs, Oil CFDs, Precious Metals, and 11 cryptocurrency pairs. It offers a leverage of up to 1:1000, a minimum lot size of 0.01, floating spreads from 0.0 pips for Forex and floating spreads from 1 pip for cryptocurrencies. It has market execution of trades with 5-digit quotes and allows a maximum of 100 trades to be opened simultaneously. It also allows the use of automated trading systems (Expert Advisors) of Metatrader. This account charges a commission of 0.0035% per trade (on each side of the trade).

  • Minimum deposit: $500
  • Leverage: up to 1:1000 
  • Trading hours: for currency pairs, gold and silver from 00:00 from Monday to Friday until 22:00 and for crypto pairs the availability is 24/7.
  • Account balance: in USD, ETH and BTC
  • Maximum open trades: 100
  • Maximum pending orders: 100
  • Execution: Market execution
  • Automatic trading: Allowed

-Stocks Account: It is an account specifically designed to trade CFDs on stocks. In total, it offers 68 of the most important shares on the market as underlying assets to trade with Contracts For Difference. It requires a minimum deposit of $1000  and allows the client to trade only with Stock CFDs. It offers a leverage of up to 1:5, a minimum lot size of 1 and market execution with floating spreads. It does not allow the use of automated trading systems (Expert Advisors) of Metatrader. This account charges a commission of 0.2% per trade.

  • Leverage: up to 1:5
  • Account balance: in USD
  • Execution: market execution
  • Commission or fee: 0.2%

Demo Account

Like most current Forex brokers, NordFX offers a demo account that allows the client to become familiar with the Forex market while learning how to use the company’s trading platform and practicing trading strategies without having to risk real money.

The demo account can be used by any type of trader, as it consists of a trading account simulator designed to test and become familiar with the broker’s services without having to put real money at risk.. That is why it represents a great utility for experienced traders, for example, who want to test the performance that they can achieve with new trading strategies, although it is also of great help for beginners who want to learn about the markets and trading in general.


Trading Platforms

MetaTrader 4

Metatrader 4 is one of the most popular platforms in the online trading sector for retail traders, because thanks to the functions it integrates and the conditions it provides to users, it has become one of the leading platforms. This platform has a large number of built-in tools, as well as many indicators that are integrated. All this allows the application of technical analysis in real time, a process that also facilitates the study of the behavior of exchange rates and the most relevant data. Among other things, it stands out for having a fast trade execution and a user-friendly interface.

Features: the platform offers different types of execution, including instant execution and market execution, multiple time frames for price charts, efficient tools designed for  real-time technical analysis, superior security for trade execution, accessibility to news from different economic news agencies and the option to create and test indicators and scripts.

On the website we find that the platform is available for Windows, Mac, iPhone and Android.

MT4 platform of NordFX

MT4 for mobile devices (Android and iOS devices)

As its name suggests, it is a version aimed especially at mobile devices such as smartphones and tablets. It is an application that is compatible with all the features of the MetaTrader 4 trading platform and has an intuitive and user-friendly interface for the trader. In addition to this, the application offers the option to trade with currency instruments and other markets online anytime, anywhere. It is also designed to offer a simple solution for investors who want to react quickly to changes in trading conditions.

Features: This platform allows complete control and use of the trading account and offers multiple trading functions, including real time quotes of financial instruments, 7 time frames (M1, M5, M15, M30, H1, H4 and D1 ), complete trading history, all types of trading orders (including pending orders), one-click trading on the chart, minimal data usage, various indicators and technical analysis studies and more.


Payment Options 

The minimum deposit to open an account with NordFX is $ 10 (Fix Account).

The means offered by this broker for the deposit and withdrawal funds from its trading accounts are:

  • Wire transfer.
  • Credit card (VISA and MasterCard).
  • Skrill.
  • Neteller.
  • WebMoney.
  • Bitcoin
  • Ethereum
  • Perfect Money.
  • Yandex.

-NordFX does not charge fees for deposits and withdrawals of funds.

-Trading accounts at NordFX can be opened in the following currencies: US Dollar, Bitcoin and Ethereum.


Main Advantages of NordFX

Among the advantages and additional services offered by this broker we can highlight the following:

  • It is a broker regulated by bodies such as CySEC of Cyprus.
  • This broker offers multiple options in terms of trading accounts and platforms for Forex and CFD trading.
  • It offers ECN accounts and platforms, through which the client can trade with the best prices, extremely low spreads and fast and efficient executions thanks to the high level of liquidity. This liquidity is provided by large banks, financial institutions, and other traders.
  • It has an updated economic calendar with the most important events that can affect the markets, which come with a forecast of their possible results, especially in cases related to the announcement of important economic indicators of the main economic powers.
  • The website comes with a short tutorial on the most important aspects of the Forex market, including what is technical analysis, fundamental analysis and others. This tutorial turns out to be pretty straightforward but serves as an introduction for beginning traders.
  • It offers various investment options, including a copytrading platform, investment funds and more.
  • Likewise, it offers an automated Forex trading solution in conjunction with Zulutrade, one of the leading companies in this sector.
  • NordFX has an affiliate program that allows its members to earn money promoting its services as a broker. Every client with an account at this broker has the possibility to participate in the program at no cost.

Affiliate program of NordFX

NordFX has one of the most competitive user affiliate programs on the market. It is designed to offer attractive commissions that allow the affiliate to have a lucrative business.

The program offers increased conversion and customer support, a multilingual variety of material to promote the broker, as well as innovative promotional materials in the market, including landing pages, widgets and banners. It also offers progressive statistics of traffic reports for affiliate and customer commissions, sub-affiliate system and an advanced CPA.

Conditions: The partner of NordFX affiliate program will have access to second level commission up to 10% and can earn up to 60% of the spread. It also has support in 14 languages, a wide cookie tracking policy of up to 90 days, a variety of promotional material, instant withdrawal of commissions regardless of the amount and other basic aspects. For the withdrawal of commissions, the program has the following available methods: VISA, MasterCard, Union Pay, Skrill, Neteller, Yandex Money, Alfa-Bank, among others.

To access, it is necessary for the interested party to present a simple application that will be evaluated by the broker, then a reference link and promotional material will be assigned. With this, the affiliate will be able to start promoting the broker to refer new clients and finally, in this way, he will be able to obtain the corresponding commissions.

Review of NordFX – Main features

CompanyNFX Capital Vu and NFX Capital CY.
Minimum account size$10 for the Fix accounts.
Trading instrumentsForex, precious metals, CFD on stocks, indices and commodities and crypto
PlatformsMetatrader 4.
Minimum lot size0.01 lot.
Maximum Leverage1:1000
SpreadsVariable spreads from 0.0 pips – 2 pips for EUR/USD
Link to the website

Go to NordFX Website