NordFX review

Spread from

0.0 pips

EUR/USD spread

Approx. 0.2 pips, Zero

GBP/USD spread

Approx. 0.4 pips, Zero

Commission

0.0035% per side, Zero

All-in cost, EUR/USD

Approx. 0.9 pips

Spread type

Variable

Overnight swap

Both: overnight swaps may be charged or credited

Deposit fee

Method-dependent

Withdrawal fee

Method-dependent

Currency conversion

NordFX internal exchange rate applies

Cost separates brokers who are otherwise level on the measures that decide the list.

A quoted spread from 0.0 pips is a raw-spread figure, which almost always means a separate commission per lot. Compare the two together - a "zero spread" account with a high commission can cost more than a wider spread with none.

Quoted spreads are best-case figures on the most liquid pair, in normal conditions. What you actually pay widens around news and at the session open.

NordFX lists a minimum deposit of $10. Treat it as the cost of opening an account, not the cost of trading one - position sizing on a small balance is what tends to cause damage.

Markets

Forex, Metals, Energies, Commodities, Indices, Stocks, Cryptocurrencies

Currency pairs

30+

Total instruments

120+

Crypto CFDs

Yes

Maximum leverage

1:1000

Execution model

Market execution / ECN on Zero accounts

Execution speed

Approx. 100ms

Order types

Market, limit, stop, stop-loss, take-profit, trailing stop and MetaTrader pending orders

Servers

Global financial data-centre infrastructure

Leverage up to 1:1000 is available on this entity. High leverage does not increase your expected return - it increases position size for the same deposit, and shortens the move needed to close you out.

NordFX covers forex, metals, energies, commodities, indices, stocks, cryptocurrencies. A wider range matters less than depth in the instruments you actually trade.

Funding options: visa, mastercard, bank transfer, skrill, neteller and 25+ online/regional payment methods. Check withdrawal routes as well as deposit ones - they are often not the same, and the difference only becomes apparent when you try to take money out.

Platforms

MetaTrader 4, MetaTrader 5, NordFX Mobile App

Own platform

Yes, NordFX Mobile App

Mobile app

Both proprietary and third-party

Browser trading

Yes

Automated trading

Yes, MT4/MT5 Expert Advisors

Copy trading

Yes

Indicators

30+ MT4; 38+ MT5; custom indicators supported

Third-party tools

MetaTrader 4, MetaTrader 5

API access

No standard retail API

MetaTrader 4 remains the most widely supported platform for expert advisors. If you rely on an existing EA, this is usually the deciding factor.

MetaTrader 5 handles more asset classes and order types than MT4, but expert advisors are not compatible between the two - an MT4 EA will not run on it.

Regulated by

Seychelles FSA (SD065) through Maximus Global LTD; Mauritius FSC (GB24204016) through Nord Premium LTD

Regulator tier

Tier 2

Register entry

Seychelles FSA Securities Dealer register, licence SD065

Client money segregated

Yes

Held at

Regulated banking institutions, specific bank not disclosed

Negative balance protection

Yes

Compensation scheme

No statutory investor compensation scheme

Audited by

Independent external auditors

Not available to

United States, Canada, European Union, Russia, Cuba, Sudan, Syria, Malaysia, Panama, Indonesia, Japan, Brazil, Ukraine, North Korea, Myanmar

A licence is what puts a broker on this list at all; everything after it decides the position.

NordFX's licence is offshore (FSC and FSA). Offshore entities typically offer higher leverage and lighter reporting, and compensation schemes do not apply - the trade-off is protection, not price.

An FSC licence (Mauritius or Belize, depending on the entity) is an offshore authorisation with lighter reporting duties than a tier-one regulator.

An FSA licence here is usually the Seychelles authorisation - an offshore entity, with lighter obligations than a tier-one regulator.

Check the licence yourself: the Seychelles FSA list of regulated entities, the Mauritius FSC register of licensees.

Minimum deposit

$10

Account types

MT4 Pro, MT4 Zero, MT5 Pro, MT5 Zero, Demo

Account currencies

USD

Islamic account

No

Demo account

Yes

Professional account

No dedicated professional classification

Minimum trade size

0.01 lots

Time to open

Typically a few minutes

Deposit methods

Visa, Mastercard, bank transfer, Skrill, Neteller and 25+ online/regional payment methods

Withdrawal methods

Bank transfer, Visa, Mastercard, e-wallets and supported original funding methods

Deposit time

Electronic methods generally instant; funds credited within one business day after receipt

Withdrawal time

E-wallets after processing; cards 5-6 business days; bank transfer 3-5 business days

Minimum withdrawal

$1 equivalent for selected payment methods

Local payment methods

Extensive country-specific online and regional payment methods

Support hours

24/5

Contact channels

Email, phone, online support form, personal account manager

Languages

17 languages

Telephone

+44 7458 164424

Email

support@nordfx.com

Live chat response

Typically within minutes

Education

Extensive: Trading Guide, educational articles, forex and crypto guides, tutorials and trading glossary

Research

Weekly market analytics, forex forecasts, technical/fundamental analysis and market commentary

Legal entity

NordFX LTD

Company number

2023-00470

Headquarters

Gros-Islet, Saint Lucia

Founded

2008

Publicly listed

No

Parent company

Nord Group

Employees

Approx. 50-200

Also trades as

NordFX; Nord FX