NPBFX Review 2024: Is it a legit broker?

Overview of reliable forex broker NPBFX

A huge number of brokerage companies that opened en masse during the past decades, fall into the ‘ambiguous’ category.

Pros

• Multiple account types: Whether you’re a beginner or an experienced trader, NPBFX offers account types tailored to your trading style, including demo, standard, and professional accounts.
• Educational resources: NPBFX offers a range of educational resources for traders, including video tutorials, webinars, and trading guides. This can help you improve your skills and make better trading decisions.
• Range of trading platforms: NPBFX offers a choice of trading platforms, including MetaTrader 4 and MetaTrader 5, which are popular and widely used around the world.
• Competitive spreads: With its average spreads of 1.0 pips and 0.8 pips on major currency pairs, NPBFX provides you with the opportunity to maximize profits through low spreads.

Cons

• Limited regulatory oversight: NPBFX is regulated by the International Financial Services Commission of Belize, which is not as stringent as some other regulatory bodies.
• High withdrawal fees: NPBFX charges high fees for withdrawals, especially for credit and debit card transactions. This can be a significant disadvantage if you are looking for a low-cost provider.

Key characteristics of NPBFX

It’s impressive to see a forex broker with such a long-standing history in the market. Seeing that NPBFX has been in operation since 1996 and has been providing services for more than two decades gives me trust in its stability and dependability off the bat.

This CFD broker was relaunched in 2016 to attract a wider audience, demonstrating that they are constantly developing to fit the demands of traders. The following are characteristics of NPBFX:

Trading Platform

When you sign up with NPBFX, you are allowed to choose between the MetaTrader 4 and MetaTrader 5 trading platforms. These platforms are well-known for their dependability, usefulness, and easy-to-use interfaces.

You’ll have access to various technical analysis tools, such as configurable indicators, advanced charting features, and automatic trading. You can access your account whenever it’s convenient for you thanks to the trading platforms’ availability on both desktop and mobile devices.

Trading Instruments

NPBFX is a reputable brokerage firm that provides traders with diverse trading instruments (which include currency pairs, precious metals, commodities, and indices). With access to these various financial markets, you can broaden your investment portfolios and take advantage of new trading opportunities.

Account Types

At NPBFX, three trading accounts are available:

• Master – 1:1000 leverage, $10 minimum deposit
• Expert – 1:200 leverage, $5,000 minimum deposit
• VIP – 1:100 leverage, $50,000 minimum deposit

Competitive spreads

In addition to offering many types of trading accounts, NPBFX also offers competitive spreads, making it a popular choice for users looking to reduce trading costs. You can take advantage of a more favorable pricing structure thanks to NPBFX’s competitive spreads, which may enable you to make more money on each trade.

I can personally testify that NPBFX’s competitive spreads are a key advantage. With NPBFX’s low spreads, you can keep your trading expenses low while aiming to improve your profits with each trade. As a result, NPBFX is an excellent choice for traders wishing to save money when trading.

Trading Terms of NPBFX

There is an overwhelming number of brokers out there, with many offering similar trading terms – including minimal deposit requirements, maximum leverage, and currency pair accessibility.

Although the differences from broker to broker may look inconsequential, they can significantly impact the decision of which trading platform to use. Here are the most important terms to remember when it comes to NPBFX.

• Minimum deposit – $10
• Rate – from 0.01
• Maximum leverage – 1:1000
• Currencies – Euro, Russian Ruble, and US Dollar
• Affiliate program – yes
• Trust management – yes
• Spread – from 0.4
• Islamic account – yes

NPBFX Regulations

In 2016, NPBFX Limited, a corporation with a Belizean registration, took over control of the business – or, more specifically, the division that caters to private individuals. The following year, it obtained Category A membership in the Financial Commission and saw a corresponding increase in client remuneration to $20,000 per client.

The most recent information indicates that NPBFX, with its registration in Belize, possesses the legal licenses required to offer financial services in that jurisdiction. That license was issued by the IFSC (International Financial Services Commission). While this is good news, the broker is not regulated by respectable organizations such as the CySEC.

Security at NPBFX

NPBFX places a high priority on the security of its client’s funds and personal information. The broker employs advanced security measures to safeguard its trading platforms and infrastructure against cyber threats.

The company uses multiple layers of security, including firewalls, intrusion detection systems, and anti-virus software, to ensure that your trading activities and data remain secure. German self-help author Eckhart Tolle once said, “Awareness is the greatest agent for change.”

It is natural for anyone interested in trading on NPBFX to inquire about potential weaknesses in the service that could pose significant challenges for traders. Those such drawbacks with this broker include not only the relatively weak regulatory body but also the absence of segregated accounts.

When browsing brokers, segregated accounts are a factor of trustworthiness; a broker having segregated accounts means the clients’ funds are kept separate from the broker’s own funds, meaning they are protected in the event of insolvency. NPBFX does not have segregated accounts.

Training on NPBFX

NPBFX offers a demo account, which is a useful feature. You can practice trading with the demo account without risking any of your own money. It’s a great way to test out different strategies and see what works best for you.

NPBFX provides a variety of educational resources in addition to the demo account to aid in the development of your trading abilities. NPBFX provides the following educational materials, such as Financial e-books and video courses on the basics of trading.

These resources are designed to be accessible and informative and are created by experienced traders and market analysts. They’re a great way to improve your knowledge and make more informed decisions in your trading. With NPBFX’s help, you can achieve your financial goals and become a more successful trader.

How to deposit/withdraw money from NPBFX

NPBFX provides the following options for fund deposits and withdrawals:

• Bank transfers
• Debit or credit plastic cards (Visa/MasterCard/Maestro)
• Yandex
• Skrill
• QiWi
• FasaPay
• Neteller
• WebMoney
• Cryptocurrencies (BTC, XRP, BCH, LTC, ETH)

The minimum deposit requirements are contingent on the type of account you choose. Aspiring traders need not worry, for the lowest deposit amount is a mere $10/€10/₽500, rendering it a highly accessible option.

In addition, you may choose to deposit in any of the accepted currencies, including USD, EUR, or RUB, and rest assured that no fees will be imposed on your deposit. Multiple payment solutions are also available for your convenience, all of which are listed above.

At NPBFX, the initial withdrawal from your account won’t cost you a penny. However, further withdrawals are subject to variable fees, including a 2.5% + $7.50 charge for credit and debit cards. This might seem a bit steep, particularly if you’re on the hunt for a low-cost provider. Withdrawal timelines are pretty standard, taking a few days to receive your hard-earned profits.

Islamic Account

If you’re a Muslim trader seeking a Sharia-compliant account type, you may be interested in NPBFX’s Islamic swap-free trading. This type of trading offers a fixed fee instead of swap; the fee isn’t considered interest, and its direction depends on the order. The Islamic account features are as follows:

• Commission-free trading
• Maximum leverage – 1:1000
• Access to all tradable instruments
• No limitations or constraints on the types of trading styles
• Access to all Payment methods
• Trading terms and conditions are identical to those found on the standard account

Customer Care at NPBFX

NPBFX understands the importance of providing excellent customer support to its traders and has established a multilingual support team to assist clients in 8 different languages. The support team is available 24 hours a day, 5 days a week, from Monday to Friday.

This ensures that you can receive prompt and effective assistance whenever needed.

• Email – [email protected]
• Telephone – +44 800 069-84-70

In addition to its dedicated support team, NPBFX also provides a comprehensive FAQ page on its website. This page contains answers to a wide range of frequently asked questions, covering various topics related to trading on the platform.

In addition to having a committed support team, NPBFX also has a thorough FAQ section on its website. This page contains answers to a wide range of frequently asked questions, covering various topics related to trading on the platform.

Discover top binary options brokers tailored to your region. Browse our curated lists by country:

All Brokers | Top Brokers | USA | Canada | UK | Australia | Nigeria | India | New Zealand | Germany | Turkey | Spain | France | Ukraine | China | Indonesia | Pakistan | Bangladesh | Russia | Mexico | Japan | Brazil | Philippines | Vietnam | Iran | South Africa | Italy | South Korea | Argentina