NordFX Review 2020

NordFX Rated 4/5

NordFX Guide

NordFX are an online broker founded in 2008 offering Forex trading.

NordFX are a global broker and have a head office in Mauritius.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of NordFX we break down the pros and cons. What NordFX are able to offer, what countries NordFX are available in. Who NordFX are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

Benefits of trading with NordFX

  • Regulated by: Cyprus Securities and Exchange Commission (CySEC), License No: 209/13
  • Headquarters Country : Mauritius
  • Foundation year 2008
  • Min Deposit : 1
  • Used by over 10,000 traders
  • NordFX is not available in the following countries : No
Open NordFX's Website

Losses can exceed deposits

At the bottom of this review you can also learn about some pretty good alternatives to NordFX

With this review we hope to help you see if NordFX is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding NordFX that will help you get off to a good start in the world of online trading.

NordFX Review Table of Contents

NordFX what you should know

NordFX offer one way to trade: Forex.

With NordFX you will need a minimum deposit of $1. You can sign up for a demo account to acquaint yourself with NordFX platform.

NordFX are able to accommodate various levels of traders whether you are experienced or a beginner.


Are NordFX safe?

When choosing a broker like NordFX the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2008, and in operation for 12 years NordFX have a head office in Mauritius.

NordFX is regulated. This means NordFX are supervised by and is checked for conduct by the Cyprus Securities and Exchange Commission (CySEC), License No: 209/13 regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to NordFX, this will be honored. If NordFX violate any regulatory rules their regulated status could be stripped.

Any payments funded to NordFX accounts by traders are held in a segregated bank account.

For added security NordFX use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Try creating two accounts when you are working with NordFX. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit NordFX

Losses can exceed deposits

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

Broker NordFX eToro XTB IC Markets
Year Established 2008 2006 2002 2007
Head Office Mauritius Cyprus, UK Poland Australia
Regulation Cyprus Securities and Exchange Commission (CySEC), License No: 209/13 Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)
Used By 10,000+ 12,000,000+ 250,000+ 60,000+
Negative balance protection No Yes Yes
Guaranteed Stop Loss No Yes No
Learn More Visit NordFX Visit eToro Visit XTB Visit IC Markets
Risk Warning Losses can exceed deposits 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Your capital is at risk Losses can exceed deposits

NordFX Pros and Cons

What we like about NordFX

  • Used by over 10,000 traders
  • Established in 2008
  • Regulated by Cyprus Securities and Exchange Commission (CySEC), License No: 209/13
  • Min. deposit from $1

What we don't like about NordFX

NordFX Financial Regulation and Supervision in more detail

We have checked and NordFX is regulated and supervised by reputable organisations. You are able to check every NordFX supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with NordFX. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect NordFX traders and provide a safe trading environment.

NordFX is governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as NordFX you should be sure they're legitimate online agent.

NordFX Awards

NordFX have won numerious industry awards over the 12 years they have been operating as a financial broker. We list the most notible awards and mentions for NordFX below.

  • Saigon Financial 2019 Winner
  • Fxdailyinfo Awards 2019
  • Forex Awards Ratings Best Forex Broker Asia 2018 Winner
  • Forex Awards Ratings Best Social Trading Network 2018
  • Academy Masterforex-V 2018
  • Academy Masterforex-V Best Crypto Broker 2018
  • IAFT Awards Best Broker Asia 2018
  • Global Brands Awards Most Trusted CryptoCurrency Broker 2018
  • International Business Magazine Awards Best Broker for Trading Cryptocurrencies
  • Fxdailyinfo Awards Best News & Analysis Provider 2018
  • Forex Awards Ratings Best Crypto Broker Asia 2017
  • ShowFx World Most Reliable Broker 2017
  • Forex Expo Awards Best 24/7 Customer Service 2016
  • IAIR Awards Best Broker Forex Trading India 2016
  • China Forex Expo Awards Best Micro Forex Broker 2014
  • MENA 12th Forex Show Best Forex Arabic Platform 2013
  • 7th Guangzhou International Investment & Finance Expo Best Forex Broker Trading China 2011

NordFX General Fees

  • NordFX doesn't charge withdrawal fees
  • NordFX doesn't charge inactivity fees
  • NordFX doesn't charge deposit fees
Broker NordFX eToro XTB IC Markets
Min Deposit 1 200 0 200
Withdrawl Fees No Yes varies No
Inactivity Fees No Yes No No
Deposit Fees No No No Varies
CFD Commission Fees Yes No Yes Yes

NordFX Commissions

  • NordFX does charge commission on CFD instruments.

What can you trade with NordFX?

You can trade a wide variety of instruments with NordFX over instruments infact.

If you are looking at trading currency pairs NordFX offer over currency pairs.

Compare NordFX with eToro and XTB below.

Losses can exceed deposits

Broker NordFX eToro XTB IC Markets
Instruments Available 100 1,500 232
Platforms MT4, MT5, Tablet & Mobile apps Web Trader, Tablet & Mobile apps MT4, Mirror Trader, Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac
FX / Currencies Visit NordFX Visit eToro Visit XTB Visit IC Markets
Forex pairs offered 50 50 65
Major forex pairs Yes Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies No Yes Yes Yes
Commodity CFDs Visit NordFX Visit eToro Visit XTB Visit IC Markets
Commodities Offered 0 0 21 19
Metals Yes Yes Yes Yes
Energies No Yes Yes Yes
Agricultural No Yes Yes Yes
Indiced & Stock CFDs Visit NordFX Visit eToro Visit XTB Visit IC Markets
Stocks Offered 957 1696 100
UK Shares No Yes Yes No
US Shares No Yes Yes Yes
German Shares No Yes Yes Yes
Japanese Shares No Yes Yes Yes

Trading on NordFX web platforms and other applications

NordFX is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here.

NordFX also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you’re on the move.

See NordFX's platforms

NordFX Trading benefits :

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

NordFX Trading Accounts Offered :

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • STP account
  • Islamic account

Can I try NordFX before I buy?

NordFX offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

NordFX withdrawl and funding methods.

NordFX offer the below funding payment methods. learn more about NordFX

  • Bank Transfer
  • Neteller
Broker NordFX eToro XTB IC Markets
Bank transfer Yes Yes Yes Yes
Credit Cards No Yes Yes Yes
Paypal No Yes Yes Yes
Skrill No Yes Yes Yes
Payoneer Yes Yes
Neteller Yes Yes Yes Yes

How can I start trading with NordFX?

When opening a trading account with NordFX, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on NordFX trading platforms here.

Performing trades with NordFX

NordFX allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As NordFX offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you‘re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the instruments.

NordFX Leverage and NordFX CFDs Explained

let's take a look at some of the basics of using NordFX leverage.

NordFX offer CFD are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

NordFX leverage magnifies both profits and losses when trading.

Let's say for example you buy ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the NordFX trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The NordFX leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

NordFX CFDs are typically used for short to medium term trades. For example NordFX intraday trading.

Education resources at NordFX

To trade effectively with NordFX, it's important to get a have a good understanding of the NordFX trading tools and the markets.

NordFX offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with NordFX.

Take time to look around the NordFX platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at NordFX

NordFX support a wide range of languages including Indian, Chinese, Arabic, Brazilian, English, Spanish, Russian

NordFX have a A grade support rating because NordFX offer over three languages.

Livechat Support at NordFX

NordFX does not offer LiveChat Support.

Email Support at NordFX

We sent several emails to NordFX and answer times overall were excellent. The fastest response from NordFX was less than 40 minutes and the slowest response was 9 hours. Support response times may vary for you with NordFX, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall good email support from NordFX.

Phone Support at NordFX

NordFX does not offer Phone Support.

See how NordFX Support Compares Against Other Brokers

Broker NordFX eToro XTB IC Markets
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages Indian, Chinese, Arabic, Brazilian, English, Spanish, Russian English, German, Spanish, French, and Italian English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more
Learn More Visit NordFX Visit eToro Visit XTB Visit IC Markets
Risk Warning Losses can exceed deposits 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Your capital is at risk Losses can exceed deposits

What you will need to open an account with NordFX

As NordFX is regulated by Cyprus Securities and Exchange Commission (CySEC), License No: 209/13, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore NordFX's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with NordFX you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://nordfx.com/ on 12th August 2018.

Watch this NordFX Informational Video

Is NordFX A Good Broker?

We spent over 3 months examining NordFX in depth. Although NordFX are not perfect we found many really useful aspects with the overall offering from NordFX. Our personal experience of trading with NordFX was very good. Weighing up many points NordFX is a good broker.

  • NordFX have a good track record of offering Forex.
  • NordFX has a history of over 12 years.
  • NordFX has a reasonable sized customer support of at least 10.
  • NordFX are regulated by Cyprus Securities and Exchange Commission (CySEC), License No: 209/13. This means NordFX fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • NordFX have regulation from a Tier 1 reputable country.
  • NordFX has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • NordFX have an international presence in multiple countries. This includes local NordFX seminars and training.
  • NordFX are able to hire people from various locations in the world who can better communicate in your local language.

NordFX Risk Disclaimer

Losses can exceed deposits

NordFX not quite right?

Check out these NordFX Alternatives

We have spent years researching the best alternatives to NordFX. Click the links below to learn more.

If you feel some of the above NordFX are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of NordFX alternatives below.

Related NordFX Comparisons

If you would like to see how NordFX stands up against other brokers you can read some of our NordFX comparisons below. We compare side by side some of our top rated NordFX versus comparisons. Read some indepth NordFX VS pages below.

NORDFX Frequently Asked Questions

Can I try NordFX before I buy?

NordFX offer a demo account so you can try before you put down and payment. Learn more here

What funding methods do NordFX accept?

NordFX offer the following funding payment methods Bank Transfers, Neteller, Wire Transfer, among other payment methods.
Learn more here

Losses can exceed deposits

Is NordFX safe?

NordFX are considered safe as they are regulated by and checked for conduct by the Cyprus Securities and Exchange Commission (CySEC), License No: 209/13. Any payments funded to NordFX accounts by traders are held in a segregated bank account. For added security NordFX use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Is NordFX trading good?

NordFX is considered good and reputable to trade with. NordFXNordFX is used by over NordFX active traders. NordFX offers Forex trading. Minimum deposit with NordFX is mindeposit.

Is NordFX trading Legit?

NordFX was founded in Mauritius in 2008. NordFX has been facilitating trade on the financial markets for over 12 years. NordFX offers clients Forex trading. All funds deposited to NordFX are held in segregated tier 1 bank accounts for security. NordFX is regulated by Cyprus Securities and Exchange Commission (CySEC), License No: 209/13 so can be considered legit.

Is NordFX a good broker?

NordFX is overseen by the top tier financial regulators Cyprus Securities and Exchange Commission (CySEC), License No: 209/13 so can be considered a good broker.NordFX allows Forex trading.

Is NordFX trustworthy broker?

NordFX can be considered trustworthy. All money funded to NordFX is placed into a segregated tier 1 bank account. this means your money in not held by NordFX directly but a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money. Also NordFX is regulated by Cyprus Securities and Exchange Commission (CySEC), License No: 209/13.

What is the minimum deposit for NordFX?

The minimum deposit to trade with NordFX is 1.

How long do NordFX withdrawals take?

Withdrawing money from NordFX processing time varies but averages 2-5 days.

Is NordFX regulated?

NordFX is regulated by Cyprus Securities and Exchange Commission (CySEC), License No: 209/13.

Is NordFX a market maker?

NordFX is a market maker. Stocks, currency and other commodities and instruments will be purchased by NordFX even if no buyer is lined up.

How can I start trading with NordFX?

When opening a trading account with NordFX, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on NordFX trading platforms here.

Is my money safe with NordFX?

NordFX is regulated by Cyprus Securities and Exchange Commission (CySEC), License No: 209/13. One of the most important criteria for traders when choosing a broker like NordFX is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to NordFX, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is NordFX a con?

NordFX is regulated and well established having been in business for over 12 years. NordFX is definitely not a con.

Can you make money with NordFX?

Although traders have had great success with NordFX. Trading on the financial markets with NordFX is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Never trade with money you cannot afford to lose. Losses can exceed deposits.

Does NordFX have fees?

NordFX doesn't charge withdrawal fees. NordFX doesn't charge inactivity fees. NordFX doesn't charge deposit fees.

When was NordFX founded?

NordFX was founded in 2008.

How many people use NordFX?

NordFX is used by over 10000 registered traders.

What is NordFX Headquarters country?

NordFX has its head quarters office in Mauritius.

Does NordFX offer negative balance protection?

NordFX does not offer negative balance protection. With Negative balance protection means traders cannot lose more money than they have deposited.

Does NordFX offer guaranteed stop loss?

NordFX does not offer guaranteed stop loss. With guaranteed stop loss protection risk is managed. Traders are guarenteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does NordFX allow scalping?

NordFX offers scalping.

Does NordFX allow hedging?

NordFX offers hedging.

Does NordFX offer CFD trading?

NordFX offers CFD trading.

Does NordFX offer STP?

NordFX offers STP trading.

How many people use NordFX?

NordFX is used by over 10000 traders.

Is NordFX an ECN broker?

NordFX offers ECN trading.

Does NordFX offer a demo account?

NordFX offers a demo account.

Does NordFX offer an Islamic account?

NordFX offers a Islamic accounts.

What are the funding methods for NordFX?

NordFX accept the following funding methods : Neteller, Bank Transfer.

NordFX review written by Andrew Blumer and Mark Hansen

We hope you found our review of the NordFX brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

NordFX review written by Mark Hansen of Comparebrokers.co