NordFX Review 2024

Highlights of NordFX

Spread fromEURUSD0pips

Trading Assets

Forex Indices Stocks Commodities Cryptocurrency

Trading Platforms

MetaTrader 4

3.5/5

More DetailsRegisterTrading CFDs carries high risks. You may lose all invested funds

About NordFX

Founded in 2008

Countries of registration:

Regulators:

3.5/5

More Details

RegisterTrading CFDs carries high risks. You may lose all invested funds

Countries of registration:

Regulators:

Trading Assets

ForexIndicesStocksCommoditiesCryptocurrency

Trading Platforms

MetaTrader 4

Deposit/withdrawal:

compare NordFX trading accounts

NordFX is a broker that offers a variety of trading accounts and conditions, making it attractive to different categories of traders, from beginners to professionals. Tight spreads and a wide range of analytical tools are complemented by a high level of technical support, which is a significant advantage.

NordFX is suitable for traders who prefer to use MetaTrader 4 and do not require a wide range of CFDs or alternative trading platforms. This broker is particularly beneficial for those seeking diverse market analysis options and personalized support.

Pros and Cons of NordFX

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NordFX Broker Overview

The primary function of the international company NordFX is to provide a full range of brokerage services in the Forex market for both private and corporate clients.

NordFX Review Summary

We used a comprehensive approach described in our broker evaluation methodology for our review. This includes an analysis of service quality, available markets, platforms, analytical tools, and many other parameters. To learn more about the advantages and disadvantages of NordFX, continue reading our detailed review.

Legal Entity	Regulator
NFX CAPITAL VU INC. NFX CAPITAL VU INC.	-

NordFX is registered under the legal entity NFX CAPITAL VU INC in Saint Lucia, granting it legal status and formal recognition. However, the absence of regulation raises questions about the extent of client interest protection and transparency in brokerage operations. This could increase risks for clients, particularly in the event of disputes or financial instabilities.

The account opening process at NordFX seems pretty simple and intuitive. The option to choose between a trading and a demo account allows newcomers to familiarize themselves with the platform without risk, and a minimum deposit of 10 dollars makes the entry threshold low. While mandatory for a trading account, the verification process is designed by international standards and does not seem excessive.

Registration

To begin registering a personal account, click the 'Open an Account' button in the upper right corner of the homepage. Here, you can select the type of account you want to open initially.

Two types of accounts are offered: trading and demo.

The login for the personal account will be the account number you open. The personal information required for registration includes only full name, country, city, residence address, and contact details such as phone and e-mail.

If you start working with the NordFX broker by opening a demo account, there is no need to provide your place of residence. However, it is worth noting that for subsequent cooperation and to avoid complications with fund withdrawal, it is still advisable to go through the verification process.

As usual, the trader must accept the broker's client agreement and privacy policy when opening an account. The client also agrees to the processing of their data. You can log into your account immediately from the homepage using the 'Login' button.

Verification

Following international standards and anti-money laundering procedures, NordFX adheres to strict client verification rules. This process is mandatory for establishing and maintaining business relationships with the broker.

Main requirements

1. Identity Verification Documents. NordFX accepts national identity cards, valid passports, and driver's licenses.

2. Address Verification Documents. Utility bills, bank accounts, or credit card statements issued within the last three months are acceptable.

3. Additional Documents. NordFX reserves the right to request other documents or information necessary in each case based on its anti-money laundering policy.

Completing the verification process is a crucial step to start trading through the NordFX platform and provides additional protection for all parties.

Minimum Deposit

One of the most attractive aspects of working with NordFX is the ability to start trading with a minimum deposit of just $10. This makes the broker accessible to experienced traders and novices who are just getting acquainted with the world of Forex.

Broker NordFX offers a variety of account types and services to meet the needs of most traders. However, the absence of cent accounts is worth noting, which may be critical for beginners or those who want to test strategies with minimal risks.

Trading Accounts

1. Fix. Suitable for beginners and those who prefer fixed spreads. A minimum deposit of just $10 makes this account ideal for those just starting with Forex trading.

2. Pro. For experienced traders looking for low spreads. With a minimum deposit of $100 and low spreads, this account is perfect for those with trading experience and looking to optimize their trading conditions.

3. Zero. Suitable for professional traders and institutional investors. With a minimum deposit of $500 and a trading commission, this account offers access to interbank liquidity (ECN), making it attractive for serious market players.

Each account offers different conditions, allowing traders to choose the optimal option following their requirements and experience.

Savings Account (Savings)

The Savings account at NordFX is a unique product developed on DeFi technology. This account opens new horizons for traders and investors wishing to earn passive income or favorable conditions for active trading.

Account Features

• Minimum deposit. The account can be opened with a minimum contribution of $500, with additional deposits of $100 and above also accepted.
• Account currency. The account balance is maintained in stablecoins such as USDT, DAI, BUSD, and others.
• Yield. The account can earn a passive income of around 30% per annum.
• Interest rate on loans. Trading loans are provided at just 3% per annum.
• Interest payments. Interest is accrued daily and can be withdrawn at any time.

How it works

Funds in the account are invested in various DeFi instruments, which allows for high returns. Additionally, the account provides the opportunity to obtain a trading loan at a low-interest rate for trading under conditions similar to the Zero trading account.

Account Management

All account operations can be performed in the trader's area. To do this, click the corresponding button (the "rocket" icon on the toolbar).

Overall, the savings account from NordFX is an excellent tool for those who want to combine active trading with earning passive income.

Demo Account

To test your Forex trading knowledge in practice, you can use a demo account from the broker NordFX, which does not require funding with real money. The account can be opened in virtual dollars, euros, BTC, or ETH, and you can also specify the leverage size, which can be 1:1000, 1:500, 1:200, or 1:100.

To open a training account, you only need to provide your full name, country of residence, and contact details.

Islamic Account

NordFX offers a unique opportunity for its clients from the Arab world — the opening of Islamic accounts. These accounts are adapted by Sharia principles, meaning the complete absence of usurious interest and commissions.

Features and Benefits

1. No usurious interest. Under Islamic laws, these accounts do not involve the accrual of interest.
2. Accessibility. To activate an Islamic account, passing verification and sending the appropriate request to customer support is sufficient.
3. No restrictions. There are no restrictions on the volume and duration of open positions on Islamic accounts.

Islamic accounts from NordFX are an excellent choice for traders adhering to Sharia principles. They allow trading a wide range of financial instruments without violating Islamic laws.

Copy Trading

Forex copy trading is a simple and intuitive mechanism for capital growth. This feature is equally suitable for experienced traders looking to earn by selling their trading signals and beginners who can copy these signals to make a profit.

Advantages of Copy Trading

1. Ease of use. No special knowledge or trading experience is required for copy trading.
2. Control over funds. Your funds remain in your account, and you have complete control over them.
3. Portfolio diversification. You can create a balanced and diversified portfolio by subscribing to different signals.

How It Works

• For providers. Open a new Pro account or use an existing one, then go to the "Investment Products" section and create a new signal.

• For subscribers. Open an account, go to your personal cabinet, then navigate to the "Investment Products" section and select one of the signal providers from the ranking.

Copy trading through NordFX is an excellent tool for expanding your investment portfolio and increasing capital with minimal risks.

PAMM Accounts

The PAMM (Percent Allocation Management Module) system offered by the broker is a time-tested tool for investors and traders, providing benefits for both parties.

Advantages of PAMM Accounts

• Shared Risk. The PAMM manager risks their funds alongside investors, adding level of capital protection.
• Unlimited Attraction. There is no limit to the number of investors that can be attracted — the more there are, the higher your profit.
• Diversification. Investors can distribute their funds among several PAMM accounts, thereby minimizing risks and increasing potential profits.

How to Invest in a PAMM Account

1. Complete a quick registration and fund your PAMM balance.
2. Evaluate the strategy and results of a potential PAMM manager using more than 50 online monitoring parameters.
3. Determine the amount of your investment and confirm the transaction.

PAMM accounts offer a flexible and efficient mechanism for capital management and investment. They are an excellent option for those looking for opportunities to earn additional income or wish to invest funds with minimal risks.

VPS Hosting

NordFX, in collaboration with hosting provider Fozzy, offers an excellent option — Forex VPS.

Features of VPS by Fozzy

• Speed. VPS servers from Fozzy are located near NordFX trading servers, which ensures swift data exchange — less than 1 millisecond. This is 200 times faster than the standard data transfer speed between your computer and NordFX servers.

• Continuous operation. The service provides 24/7 availability, allowing your advisors to trade without interruption.

• Ease of use. Managing this service is as easy as using regular Windows. You can do this from your home computer, smartphone, or tablet on any operating system — MS Windows, Mac OS, Linux/Unix, iPhone/iPad, Android.

• Reliability. All data on Forex VPS is securely protected with daily backups.

All NordFX clients can order this specialized Forex VPS at a discount — just for 9.95 EUR/13.95 USD per month. To receive the discount, do not forget to mention the promo code NordFX_fozzy when placing an order.

One of the most important aspects to consider when choosing a broker is the commissions and trading costs. The commission system at NordFX is diverse and depends on the type of trading account selected. Let's take a closer look at the commissions offered by NordFX and what this means for traders in practice.

Trading Commissions

Each account type at NordFX has its trading commission structure. On some accounts, the main cost is the commission per trade, while on others — the spreads and swaps. Knowing and understanding these commissions can significantly impact your profitability and trading strategy.

Commission per trade

On the Zero account, the main expense is the commission per trade. This commission is 0.0035% of the trade volume, slightly above the average market level. Traders preferring this type of account should consider this feature when planning their trading strategy.

Below is the commission per lot one way for the EURUSD pair at different Forex brokers:

Spreads and Swaps

On the Pro account, the main trading expenses are spreads and swaps. Spreads are pretty narrow, but swaps are relatively high. This makes long-term trading on NPBFX less advantageous compared to competitors.

Below is a table of the average spread and swaps for major currency pairs on the Pro NordFX account.

Inactivity Fee

NordFX charges an inactivity fee of 10 USD per month if there have been no trading operations on the client's account during the last 365 calendar days and all positions on this account are closed. This fee starts to be charged from the first day of the following calendar month and then monthly.

NordFX offers an extensive selection of deposit and withdrawal methods, including cryptocurrencies, making the process convenient for traders from different countries. Deposit and withdrawal fees vary but are generally competitive in the market. The main drawback is the processing time for withdrawal requests, which can take up to 5 business days.

Deposit Methods

Payment System	Currencies	Deposit Fee	Operation Limit
WebMoney	USDEUR	0.8% limitscommission limits	—
Skrill	USDEUR	0%	—
Neteller	USD	0%	—
Perfect Money	USDEUR	0.5%	—
Dragonpay	PHP	0%	—
AstroPay	USD	0%	—
TC Pay	USD	3%	—
FasaPay	USDIDR	0%	from 5 USD
Boleto	BRL	0%	—
DOKU Wallet	IDR	0%	from 10000 IDR
Binance Pay	BUSDUSDCUSDT. . .show all	0%	—
Swift	USDEUR	0%	—
Visa	USDEUR	0%	—
Mastercard	USDEUR	0%	—
Ngan Luong	VND	0%	—
Help2pay	MYRIDRTHB. . .show all	0%	—
PayTrust88	MYRIDRTHB. . .show all	0%	—

Cryptocurrency	Blockchain	Deposit Fee	Operation Limit
BUSD (Binance USD)	BEP20	0%	—
USDT (Tether)	ERC20	0%	—
USDT (Tether)	TRC20	0%	—
USDT (Tether)	BEP20	0%	—
USDC (USD Coin)	ERC20	0%	—
USDC (USD Coin)	BEP20	0%	—
DAI (Dai)	ERC20	0%	—
DAI (Dai)	BEP20	0%	—

When funding an account, funds are credited instantly, except for bank transfers, which take 3-5 days.

Withdrawal Methods

Payment System	Currencies	Withdrawal Fee	Operation Limit
TC Pay	USD	3%	—
Perfect Money	USDEUR	0.5%	—
Dragonpay	PHP	0% limitscommission limits	—
Skrill	USDEUR	1% limitscommission limits	—
WebMoney	USDEUR	0.8% limitscommission limits	—
Neteller	USD	5% limitscommission limits	—
Swift	USDEUR	0% limitscommission limits	—
Visa	USDEUR	4%+ 7.5 USD limitscommission limits	—
Mastercard	USDEUR	4%+ 7.5 USD limitscommission limits	—
Ngan Luong	VND	0% limitscommission limits	—
Help2pay	CNYMYRIDR. . .show all	0%	—

Withdrawals can only be made using the method used to deposit, and the trading account must be verified.

According to the client agreement, NordFX processes withdrawal requests within 5 business days.

NordFX offers a reasonably diverse selection of markets and products. However, the relatively small number of available CFDs and the absence of soft commodities make the offering less attractive than competitors, who usually have a broader product range.

What markets are available?

Leverage

Leverage may vary for different types of instruments.

NordFX provides a highly reliable and functional MetaTrader 4 platform in various versions for desktop and mobile devices and even as a MultiTerminal for managing multiple accounts. This makes it valuable and convenient for most traders. However, the absence of a web version limits the flexibility of choice and may be inconvenient for those who prefer to trade through a browser.

MetaTrader 4

MetaTrader 4 (MT4) is the primary trading platform offered by NordFX. This platform is deservedly popular among traders and is known for its high functionality, ease of use, and flexibility.

Platform Versions

• Desktop version. Available for installation on a personal computer. Provides a full range of features and tools for professional trading.

• MetaTrader 4 MultiTerminal. This version is ideal for traders managing multiple accounts simultaneously.

• Mobile applications. Available on Android and iOS, it allows traders to manage their accounts and monitor the market regardless of location.

It is important to note that the platform's web version is absent, which may be inconvenient for those who prefer to trade directly from a web browser without installing additional software.

NordFX has an extensive set of analytical tools, including weekly forecasts for Forex and cryptocurrencies, an economic calendar, a trader's calculator, and a currency converter. These tools provide traders with quality and comprehensive information that can assist in making trading decisions.

Nevertheless, there is room for improvement. For example, the absence of trading signals and news reviews from the company's experts can be a drawback. These additions could make the analytics section even more helpful for many traders.

Forex and Cryptocurrency Forecasts

Forecasts are available for various periods, ranging from weekly to monthly. They are based on thorough market analysis and provide detailed price movement scenarios.

Economic Calendar

The Economic Calendar provides an overview of upcoming economic events and their likely impact on various currency pairs and assets. This allows traders to prepare in advance for market volatility.

Trader's Calculator

The 'Trader's Calculator' tool allows you to input the parameters of a proposed trade and calculate the potential profit or loss. This is a convenient way to assess risks and potential rewards before opening a position.

Currency Converter

The Currency Converter allows for quick conversion of the value of one currency to another, which is useful when working with different currency pairs.

NordFX places a significant emphasis on trader education, especially for beginners. The company offers a range of video and audio courses catering to different expertise levels. Thus, you will find materials that help master the basics of the Forex market, as well as complex trading strategies for experienced traders.

Additionally, the broker actively maintains a blog where articles on various topics are published, which can be helpful for independent study.

However, it is essential to note that the educational section has drawbacks. In particular, no webinars or seminars could provide a deeper and more interactive understanding of the subject matter. There are also no personalized training programs, which could be critical for those who prefer an individual approach.

NordFX broker clients can count on 24/7 technical support, which is a significant advantage, especially for traders in different time zones. Support service is available through several channels:

• Live Chat and Messenger for real-time resolution of issues and questions.

• Email. Clients can send inquiries to support@nordfx.com for more complex and non-urgent questions.

• Telephone. Contact numbers are available for regions such as Europe, Latin America, UAE, India, Bangladesh, China, and Sri Lanka.

Customer Support Reviews

Reviews of the support are primarily favorable. Clients praise the promptness and professionalism of the support team, as well as the speed of deposit and withdrawal operations.

Note: It is worth mentioning that even with a minimum deposit of 100 USD, NordFX provides a personal manager to support the client at all stages of trading.

Thus, NordFX's technical support is one of the company's strong points, as confirmed by numerous positive reviews.

Conclusion

NordFX is a broker with various trading accounts and conditions, making it attractive for different categories of traders — from beginners to professionals. Tight spreads and analytical tools are backed by good technical support, which is a significant plus.

NordFX is suitable for traders who prefer to use MetaTrader 4 and who do not require a wide range of CFDs or alternative trading platforms. This broker is perfect for those seeking diverse market analysis options and personalized support.

FAQ

Is NordFX legit?

Yes, NordFX is a legitimate broker. It is registered under the legal entity NFX CAPITAL VU INC in Saint Lucia, but it is not regulated.

Which country is NordFX from?

NordFX is an international broker with its headquarters in Saint Lucia.

Is NordFX an ECN broker?

Yes, NordFX offers ECN accounts among other types of trading accounts.

How does NordFX make money?

NordFX makes money through spreads, commissions on trades, and other trading-related fees.

Is NordFX good for beginners?

Yes, NordFX is suitable for beginners due to its user-friendly MetaTrader 4 platform, educational resources, and the availability of a demo account for practice trading.

Does NordFX offer a demo account?

Yes, NordFX offers a demo account that allows traders to practice and develop their trading strategies without risking real money.

How can I open an account with NordFX?

To open an account with NordFX, you need to visit their official website, complete the registration form, submit the required identification documents, and fund your account.

How can I delete my NordFX account?

To delete your NordFX account, you need to contact their customer support team and follow their instructions for account closure.

What is the minimum deposit for NordFX?

The minimum deposit for NordFX varies depending on the type of account, but it typically starts at $10.

What is the maximum leverage on NordFX?

The maximum leverage offered by NordFX can go up to 1:1000, depending on the instruments traded.

How do I deposit funds in a NordFX account?

To deposit funds into a NordFX account, you can use various methods such as bank transfers, credit/debit cards, cryptocurrencies, and several e-wallets. The process can be initiated through the client portal on their website.

How do I withdraw money from NordFX?

To withdraw money from NordFX, you need to log in to your account, go to the withdrawal section, select your preferred withdrawal method, and follow the instructions provided.

Does NordFX provide VPS?

Yes, NordFX provides VPS (Virtual Private Server) services to its clients, ensuring stable and uninterrupted trading conditions.

Is NordFX suitable for scalping?

Yes, NordFX is suitable for scalping as it offers tight spreads and fast execution speeds.

Is NordFX suitable for auto-trading?

Yes, NordFX is suitable for auto-trading and supports the use of trading robots (EAs) on the MetaTrader 4 platform.

Is NordFX suitable for hedging?

Yes, NordFX allows hedging, enabling traders to open multiple positions on the same instrument in different directions.

Is NordFX suitable for spread betting?

No, NordFX does not offer spread betting services. It primarily provides Forex and CFD trading.