NordFX Broker Review
If you’re looking for a Forex broker that also offers the opportunity for a spot of binary options trading, you won’t go far wrong if you consider NordFX. This international Forex broker has a lot to offer both individual and corporate customers, with a range of services for trading, an easy to use trading platform, including mobile applications. A wide choice of trading instruments are available, including 37 currency pairs, precious metals, and binary options. Spreads start as low as 0.2-2 pips for major currency pairs.
NordFX has been around for almost a decade, and holds all the necessary licenses for providing financial services. It is actually the brand name of NFX Capital Cy Ltd, a Cyprus based investment firm licensed and regulated by CySEC. It is also an EEA authorised firm to offer its services in the UK, by the FCA. NordFX boasts customers from more than 100 countries, and has more than 1,000,000 trading accounts. Which must make it a contender for the most popular broker.
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MetaTrader 4 and 5 are just two of trading platforms available
With regards a trading platform, NordFX have made both MT4 and MT5 available. MetaTrader 5 is the latest offering from MetaQuotes, but has yet to be as popular as MT4. Both platforms provide traders with easy access to financial markets, regardless of experience levels. And it doesn’t matter how you prefer to do your trading. Whether you’re out on the road, or sat at home in front of a PC, the MetaTrader software is compatible with all devices and operating systems. If you’re the kind of trader or manager who chooses to work several accounts at the same time MT4 has a very user-friendly interface that won’t cause any problems.
NordFX has six different trading accounts to choose from
NordFX is able to cater to the needs of a wide variety of traders, as it has six different accounts to choose from.
Micro account – This is a great place to start if you’re a beginner, as it requires a minimum deposit of $5. Credit leverage of up to 500:1 is available, and spreads start from 2 pips. You can trade 21 currency pairs using the MT4 trading platform, and the minimum lot size is 0.01. Automated trading is permitted and there is also a demo version.
Account 1:1000 – If you want to take advantage of high leverage, this is the account for you. Minimum deposit requirement is just $5, but leverage of up to 1000:1 is available. MetaTrader 4 is the trading platform and spreads are fixed from 3 pips. Automated trading is permitted, and the minimum lot size is 0.1,
MT-ECN account – This account is designed to appeal to a broad range of traders, but especially those looking to trade with minimal cost. Minimum deposit requirement is $1,000 and trading instruments include 25 currency pairs, gold, and silver. Floating spreads start from 0 pips, but there are commission charges, which vary between $5 and $3.5 a lot, depending on turnover figures.
Standard account – this account provides experienced traders with the best possible trading conditions and a good range of instruments. Minimum deposit is $5, and credit leverage is up to 200:1. Floating spreads start from 1 pip, and the minimum lot size is 0.1. There is no limit to the number of open positions and pending orders, and automated trading is allowed.
Standard-MT5 – As you might expect this account uses the MetaTrader 5 software. The minimum deposit is $50, and credit leverage is up to 200:1. Floating spreads start from 1 pip.
Premium account – As a premium account customer you’ll be entitled to a number of additional benefits. These include a complementary debit card, reduced spreads for currency pairs and individual customer service. In order to be given premium status a trader would need to deposit at the very least, $50,000. Further details of the premium account service can be obtained by emailing the premium account manager.
NordFX have some really great bonuses and promotions currently available
We don’t always like to make a big thing about bonuses, as they usually come with some very hefty trading terms and conditions. However, in the case of NordFX, the variety is too good to miss out on sharing.
55% bonus on deposit – Only available for micro and standard accounts, and is intended only for trading and cannot be withdrawn.
Up to 100% bonus on deposit – Requires a minimum deposit of $250, and can be withdrawn once the required number of lots is closed. Profits can be withdrawn without restriction. Offer also includes free training and 6 professional strategies.
Binary options trading bonus of up to 150% – In order to redeem the bonus you have to achieve a trade turnover equal to the credited bonus amount.
We found that NordFX have a lot to offer binary options and Forex traders of all levels. There is a great selection of training material for beginners, and their customer service level is more than good enough. If you think you like the sound of NordFX, start with a demo account so you can get a feel for their service, before risking your own capital.