Clicky

NORD FX Review

Posted By Marcus Holland On Monday, April 22nd, 2013 With 1 Comment

Introduction

Nord FX is an ECN and STP broker that started its brokerage services in 2008. Its website is owned and operated by Nord Group Inc. and it has its registered office in Port Louis, Mauritius. Nord FX is not registered or regulated by any known regulatory body.

Asset Index

The asset index for the different accounts available for trading on Nord FX is given below:

TOOL (Micro)

SPREAD (Micro)

TOOL (Standard)

Typical SPREAD (Standard)

EUR/USD

2

EUR/USD

1,6

USD/JPY

2

USD/JPY

1,6

GBP/USD

3

GBP/USD

2,2

USD/CHF

3

USD/CHF

2,7

EUR/CHF

4

EUR/CHF

2,7

AUD/USD

4

AUD/USD

2,2

USD/CAD

4

USD/CAD

3,1

NZD/USD

4

NZD/USD

3,6

EUR/GBP

4

EUR/GBP

3,1

EUR/JPY

3

EUR/JPY

3,1

GBP/JPY

6

GBP/JPY

4,5

GBP/CHF

7

GBP/CHF

6

CHF/JPY

4

CHF/JPY

3,6

EUR/CAD

8

EUR/AUD

4,5

AUD/CAD

7

EUR/CAD

4,5

AUD/JPY

5

AUD/CAD

3,6

NZD/JPY

6

AUD/JPY

3,6

GBP/CAD

10

CAD/JPY

3,1

AUD/NZD

10

NZD/JPY

4,5

AUD/CHF

7

GBP/CAD

6,

EUR/NZD

8

GBP/NZD

10

GBP/AUD

6

AUD/NZD

6

AUD/CHF

4,5

EUR/NZD

10

USD/ZAR

120

USD/SGD

6

USD/HKD

6

CAD/CHF

4,5

CHF/NOK

58

CHF/SEK

58

EUR/NOK

40

EUR/SEK

40

EUR/TRY

10

GBP/SEK

58

NOK/JPY

40

NZD/CAD

6

NZD/CHF

6

SEK/JPY

10

USD/DKK

6

USD/MXN

40

USD/NOK

40

USD/SEK

40

USD/TRY

10

XAU/USD

5

XAG/USD

4

 

Trading Platform

The platforms currently available on Nord FX are listed below:

MetaTrader 5: This is the latest version of the MetaTrader platform which is designed to enable clients to trade forex, CFDs, and futures. Its features include among others; 21 timeframe for different time period trading, ability to carry out market, request, exchange and instant executions, fully customizable interface, and live news feeds. It also offers a high execution speed for price dynamics analysis.

MetaTrader 4: This platform enables users to make transactions and carry out technical analysis in the forex, CFDs, and futures markets. It offers the possibility of trading different timeframes, creating and testing Expert Advisors, and charts, live news feed, and the ability to execute different types of market orders.

Nord FX also offers to its clients the robust features of the MetaTrader 4 platform on various mobile devices. These devices include a wide range of Smartphones, BlackBerries, iPhones, iPads, and Androids. Irrespective of the device being used, Nord FX customers have all the features of the MT4 trading platform at their disposal, from any location.

Deposits and Withdrawals

Deposits and Withdrawals can be made on Nord FX via Bank Transfer, E-payment systems like WebMoney, Skrill, Alertpay, and Liberty Reserve.

Minimum Deposit

The minimum deposit amount for micro accounts is 5 USD, for standard accounts is 50 USD, and for ECN/STP accounts is 1,000 USD.

Maximum Deposit

There is no maximum deposit limit.

Minimum Trade Size/Amount

The minimum lot size is 0.01 lot for a micro account, 0.1 lot for a standard account, and 0.1 lot for an ECN/STP account.

Maximum Trade Size/Amount

The maximum trade size for micro accounts is 10 lots with step 0.01; for standard accounts it is 50 lots with step 0.1, and for ECN accounts it is 20 lots with step 0.1.

Minimum Withdrawal Limit

There are no minimum withdrawal limits on Nord FX.

Maximum Withdrawal Limit

There is no maximum withdrawal limit.

Conditions for Deposit and Withdrawals

The condition for withdrawal is that payment will only be made to account holders on Nord FX.

Customer Support

Nord FX can be contacted through the following means:

a)         Contact Form

b)         Live Chat.

Share Button
Displaying 1 Comments
Have Your Say
  1. Lorenz V. says:

    NordFX are outright SCAMMERS when it comes to you making profits with them. They have outright STOLEN 2000 Euro of profits Ive made with them.

    I have been trading with them since May 2016 and have become pretty profitable the last 2 months finally with my scalping strategy (which is permitted on all accounts like their website explicitly states).

    Now it was time to withdraw some of my profits since I desperately needed the money I traded so hard for, sitting in front of the screen for 10 hours+ a day for months. When I requested the withdrawal, 10(!) minutes later Ive received this email from them:

    “Hello.
    We inform you that your trading accounts 1047186, 1047380, 1070661 and 1070662 were blocked for the client agreement terms violation.
    Initial funds were returned.

    Your sincerely
    NordFx Finance Dept., Sergey,”

    Screenshot: https://s31.postimg.org/pa4p26017/nordfx_email.jpg

    They outright blocked ALL my trading accounts I had with them! I had the Micro, the Standard and all the others since I wanted to try them all out. But Ive requested the withdrawal only from the Standard account, yet they also have closed the Micro which also had money in it but where I didnt trade for a while. I cant get the money out of the micro account either since they have blocked backend access on their website for me completely for ALL accounts:

    “Unfortunately, you can not log in to trader’s cabinet: your account has been blocked”

    Screenshot: https://s31.postimg.org/n3bfnpnmz/nordfx_blocked.jpg

    All emails I sent them and asking what terms I have violated did stay unanswered – as well as any further communication attempts with them via email or their chat. Its kind of unbelievable that they say I have violated the client agreement, yet dont even mention which part of it (I guess it was the part of “profitable trading is forbidden under any circumstances”). It also adds to their “professionalism” that they dont even mention complete names in their emails, just “Sergey”, so that you cant specifically refer to a person later on or report them to the police.

    So I did some further research and found that they are actually based out of Russia. Yes, the website says Mauritius and what not, but its clearly operated out of Russia if looking at the IPs in their emails where theyve originated from:

    “Received: from windows-8.1.shared (user-62-68-147-63.tomtelnet.ru [62.68.147.63])”

    Screenshot: https://s31.postimg.org/mzvuvudgr/nordfx_email_header.jpg

    So their “office” (its nothing more than a PO box actually) in Mauritius is nothing less than a simple attempt to hide the fact that they are from Russia. What is even more interesting is that they mention they are registered with FSC Mauritius and are allowed to provide financial services there. A call to the FSC I did today confirmed that they are NOT LICENSED with them NOR ARE ALLOWED TO OFFER FINANCIAL SERVICES in Mauritius! The FSC will start an investigation on their operations right away as they told me.

    So their whole operation they have there is based on a complete fake and outright lies about being registered with the FSC. And on top, if you make profits, they will simply not send them to you and close your accounts instead. Hence I can only HIGHLY recommend to stay away from them under these circumstances. You can rather “donate” your money to some charity organization than to spend it on this fraudulent Russian operation.

    P.S.: After some more googling, it seems I am not the only one, just looking at a few sites reveals what they are really after (YOUR MONEY):
    http://www.tradecomplaint.com/search/sOrder,dt_pub_date/iOrderType,desc/pattern,Nordfx

Leave a comment