NordFX Review 2024: Should you open an account?

More Detail About NordFx

NordFX was founded in 2008 and has since gained recognition across the industry for its notable stance on providing quality and top-notch customer service.

Over the years, it has won several awards, including Best Broker in Asia. So far this year, the trading platform NordFX has bagged three prestigious awards: the AllForexRating Awards Best Crypto Broker, International Business Magazine Awards Best Execution Broker, World Confederation of Businesses, and THE BIZZ Business Excellence Award.

With over 1,700,000 accounts opened on NordFX and a presence in 190 countries, it has grown to be a titan in the forex industry among its counterparts.

What Attracts Customer To NordFx?

There’s an array of services you find on NordFx with dedicated benefits. The product-driven attraction has kept an influx of customers for NordFX.

The combination of required features directly impacts the users and is atop the brokerage company.  A non-exhaustive list of these services and features includes the following:

1. Copy trading options to learn trading strategies and earn passive income
2. Responsive 24/5 customer service available to anyone with further enquiries or complaints
3. Low spreads, with minimal charges
4. Availablility in 14 different languages to make communication seamless
5. The inclusion of a RAMM service, allowing you to invest in multiple assets simultaneously
6. Provision of a PAMM account, giving added ways to earn passive income and increase management control over the account
7. A variety of asset classes, including cryptocurrency, forex, CFDs, etc.

NordFX Security

Several security measures are set in place to keep NordFX users safe and ensure maximum privacy.

To provide top-quality service, NordFX collects specific details: transaction information, application information, and verification information. This information is never available to third parties without users’ consent. Regarding security technology, NordFX relies on Secure Socket Layer (SSL) encryption technology to prevent information interception.

In addition, there are security guidelines provided to users, including safety tips such as using modern antivirus software and updating it regularly, updating operating systems timely, using additional software such as firewalls, avoiding working in admin mode, and so on.

It also details the relationship one should have with their passwords and access codes, including best practices such as changing your passwords at consistent intervals and tips to protect yourself from phishing messages or emails.

NordFX Regulation

The broker is compliant with regulations and licensed by the Cyprus Security and exchange commission (CYSEC), Vanuatu Financial Services Commission, Markets in Financial Instruments Directive, and The Securities and Exchange Board of India (SEBI), among other international regulators.

NordFX is bound by the rules and policies of these regulatory agencies to provide its proposed services as stated. Also check out our reviews on other CySec regulated brokers, including OctaFX and FXTM.

Deposit and Withdrawal

Making deposits and withdrawals is an easy process with a variety of options for users. NordFX doesn’t charge for deposit and withdrawal; however, your selected method might request a fee to process.

The available methods for deposits and withdrawals include bank transfer, credit/debit card, online payment system, online exchange service, and internal transfer. Several currencies are available, including USD, EUR, CNY, GBP, IDR, and VND.

The transfer period for deposit and withdrawal differs. With bank transfer, it might take between 3-5 working days, whereas payment with online payment services such as Skrill, Neteller, Web Money, and Perfect Money is instant; using Dragonpa can take between 1-2 hours before completion.

Account Types

There are four different trading account types available on the broker’s site, each with unique features.

Fix Account: Requires a minimum deposit of $10, has 28 tradable assets, 2 pips spread, 1:1000 leverage, and no commission.

Pro Account: Requires a minimum deposit of $250, has 33 tradable assets, spread from 0.9 pips, 1:1000 leverage, and no commission.

Zero Account: Requires a minimum deposit of $500, 33 tradable assets, spread from 0.0 pips, 1:1000 leverage, and 0,0035% per trade (each side).

Saving Account: Requires a minimum investment of $500, 30% average yearly interest, daily payout, and a 3% yearly loan interest. This type of account is available for all.

Training

Educating traders to help them make better trading decisions and gain more knowledge on how to trade, use the broker, and help generate more earnings is core to NordFX’s business philosophy.

As Confucius once said, “If you are planning for a year, sow rice; if you are planning for a decade, plant trees; if you are planning for a lifetime, educate people.” NordFX is playing the long game by providing a wealth of education opportunities to its customers.

On NordFX, there’s a learning center with practical online courses and tutorials for every trader, from beginner to professional, to help build their mastery.

Its learning center is divided into four categories: Forex, containing forex trading courses; Glossary, comprising a dictionary of words regarding trading and NordFX; Economic Calendar, which shows an up-to-date list of the economic events; and Useful Article, containing information you are required to know and might find helpful.

The Forex Club also offers robust training segments to help users understand the financial market and build trading strategies.

In addition, there is analytical information, trading signals, trading strategy ideas, descriptions of existing platforms, and demo accounts — all of which are provided to give more information, knowledge, and growth opportunities in the financial market.

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