NordFX Review 2024


3.5 / 5
NordFX is #31 in our CFD broker rankings.

NordFX's biggest advantages are available to upper-tier account holders, so this is a good option for experienced, higher volume traders looking for ECN, zero-spread trading. That said, the lack of regulation is a notable concern and the broker's market coverage is weak compared to alternatives.

- Daytrading Review Team

Founded in 2008, NordFX is an offshore CFD broker offering forex, stock, commodities, indices and crypto trading to over 1.7 million clients in 190 countries. Traders access markets through the MT4 and MT5 platforms and benefit from low commissions, spreads from zero and decent extra features. Minimum deposits start from just $10 and very high leverage is available up to 1:1000.

$10
MT4, MT5
Forex, CFDs, indices, commodities, cryptos, stocks
Pro accounts can participate in the 100,000 USD Super Lottery
USD
Credit Card, Visa, Mastercard, Wire Transfer, WebMoney, Skrill, Neteller, Perfect Money, Dragonpay, QIWI

Forex Trading

NordFX offers a modest range of 33 major and minor forex pairs. Disappointingly, there are no exotic pairs, though traders do benefit from tight spreads from 0.0 pips and low commissions from 0.0035% per side.

Stock Trading

You can trade 68 stocks and shares with leverage of 1:5, as well as 4 indices: Dow Jones, Nasdaq, S&P 500 and DAX 30. This is a poor selection compared to most alternatives (who typically offer hundreds) and only covers US and German markets.

CFD Trading

CFDs are available on forex, stocks, indices, metals, oil and cryptos, with support on MT4 and MT5. Execution speeds are also decent, averaging 0.5 seconds, though there is also a VPS service facilitating 24/7 connectivity for algo strategies.

Crypto Trading

NordFX offers 13 leveraged cryptocurrency CFDs paired with USD, including BTC, DOGE, LINK and ETH. The selection is small, although high leverage up to 1:1000 is available and there’s also a crypto base currency savings account with daily interest payouts.

Copy Trading

You can copy the trades of experienced investors using real-time signals. You only pay a fee on winning trades, starting from 10%. New subscribers can also get started with a competitive $100 minimum deposit.

Awards

  • Best Social Trading Network 2021 - Forex Awards
  • Best Affiliate Program 2021 - Forex Awards
  • Best Customer Support 2021 - Forex Traders Association
  • The Most Transparent Broker 2021 - World Forex Award

✓ Pros

  • NordFX has strengthened its account options with Pro accounts featuring spread-only pricing and Zero accounts with spreads from 0.0 on assets like the EUR/USD
  • The straightforward copy trading service will suit beginners or improving traders, with just a $100 minimum deposit to get started
  • There's an impressive 25+ payment methods, including local bank transfers, with zero fees and near-instant processing
  • There’s a good range of day trading tools available, including a VPS, calculators, live signals and an economic calendar
  • NordFX has bolstered its charting tools for advanced traders, adding MT5 to its existing MT4 integration

✗ Cons

  • The lack of strong regulatory oversight is a major concern as clients will receive limited safeguards
  • With only around 100 instruments, NordFX’s market coverage is uncompetitive vs most alternatives
  • Pricing trails the cheapest brokers, notably IC Markets

NordFX is a global forex trading firm. The brand offers a range of accounts to suit different trader needs, as well as low minimum deposits, a demo account, plus MT4 and MT5 integration. The MetaTrader platforms also provide automated trading and market signals. Read our detailed review to find out if NordFX is good or not.

NordFX Headlines

NordFX is an online brokerage with a history dating back to 2008. The founder wanted to create a reliable investing service, and it looks like they succeeded. If you are wondering how trustworthy NordFX is, then know that over 1.7 million accounts across 190 countries have been opened on the site since it launched.

The brand enables its clients to speculate on cryptocurrencies, forex pairs, indices, and stocks. Unlike many competitors, it also offers the option of managed investment services.

Since it operates globally, NordFX locations include the following support centers: LATAM, Europe, Bangladesh, China, Thailand, India, and Sri Lanka.

Trading Platforms

NordFX uses the popular MetaTrader 4 solution, alongside MetaTrader 5, which it added in 2024.

After hours testing both platforms, MT4 is best suited to day traders looking for essential charting tools and order types, while MT5 is a better fit for advanced traders, sporting additional indicators, timeframes, orders, plus a built-in newsfeed.

The options of either managed funds or automated investments are also clearly accessible and require limited customization to deploy.

Both platforms also offer enhanced levels of functionality to dig down into and a wide range of data and charts available for analysis if users want more control and insight over their investment decisions.

NordFX MT4 free download
MetaTrader 4

MT4 MultiTerminal

The broker also offers the MT4 MultiTerminal. This is suitable for investors using multiple accounts at the same time. The terminal maintains the same functionality as the original MT4 platform, while also providing manual or automatic distribution of trading volume for each account individually.

As an added bonus, advanced security ensures data transfer safety.

Assets & Markets

NordFX offers a wide array of financial instruments, asset types, and markets. These are comprised of 33 currency pairs, 11 cryptos (including Bitcoin), gold, silver, and oil. In addition, you can trade CFDs in the form of 5 indices and 68 stocks.

Unlike many other brokers, NordFX also offers managed investment services under its PAMM (Percent Allocation Management Module) account. The PAMM manager deposits their own money alongside those of investors’, providing an added layer of trust for the customer.

Note, the company doesn’t provide binary options.

Spreads & Commission

The spreads offered on NordFX are tight, starting from just 0.0 pips. They remain competitive by outsourcing trades to a third-party liquidity provider, which helps keep costs low due to the large trading volumes.

No commissions are charged except for the Zero account (starting at 0.0035% per trade for each side) and on crypto at 0.06%. The Savings account has a yearly loan interest fee of 3% on average.

An issue to remain aware of is withdrawal fees – the specific amount depends on the money transfer method (for example, online payment systems, digital wallets, or bank transfers).

NordFX withdrawal times and issues

Leverage

NordFX isn’t regulated by the FCA or the ESMA, like many popular brokers. Therefore, the amount of leverage offered is high, with a rating of up to 1:1000.

Though many experienced traders will welcome this high leverage limit, for new investors, it is important to manage risk. A common reason many newbies lose money is by overextending positions.

Mobile Apps

NordFX uses the MetaTrader platforms, which are widely employed in the industry. These are comprehensive, cross-purpose, and multifunctional tools that requires specific software to be downloaded.

For mobile users, there is an app version available called MT4 and MT5. These are available to download on both iOS and Android, although functionality is somewhat reduced compared to the desktop version.

Clients can also use the broker’s bespoke mobile APK trading software. Available as a free download from respective app stores, it offers complete account management, instant executions, and a selection of order types.

Mobile traders can still conduct technical analysis and set up price alerts. The application is an excellent solution for those looking to stay tuned into the financial markets while on the go.

NordFX Payment Methods

Various payment options are available at NordFX. Users on the platform are able to wire funds directly into their accounts, use credit or debit cards, or various other online payment methods.

As part of our withdrawal review, we found the same options available for deposits. However, depending on which you choose will impact how long it takes before the money is available in your bank account, though it is typically between 1 and 6 business days.

Note, money laundering regulations may dictate that withdrawals are made back to the same funding source used for deposits.

Demo Account

Before committing to opening a live account, users can create a demo account with $10,000 worth of virtual currency. The free paper trading account can help investors get used to the interface, explore the platform and get a taste of which markets they’re interested in. Setup is a simple process, taking less than a minute.

The account offers 24/7 support and the DemoCup contest, where users compete for a $42,000 prize pool.

Bonuses & Promotions

NordFX has a variety of offers. Customers also have the option of guaranteed stop-losses, limit orders, plus automated trading. In addition, NordFX is running a ‘refer a friend’ promotion deal. Where users refer a friend that goes on to make a deposit, the referrer receives 10% of that deposit as a cash bonus.

100,000 USD Super Lottery

NordFX has a mega lottery draw with $100,000 up for grabs split across 200 prizes in varying values of $250-$1,250 and two higher-ranking super prizes of $10,000 each.

To take part, existing Pro account holders simply need to carry on depositing funds and trading. New users will need to open an account, deposit at least $200, and trade 2 lots. Virtual lottery tickets are automatically awarded when volumes are met, and cash prizes can be withdrawn.

The lucky winners will be announced across 3 draws scheduled on the 4th of July 2022, the 4th of October 2022, and the 4th of January 2023, with the two $10,000 prizes awarded in the final draw. Sign-up today for your chance to win big.

Regulation & Licensing

NordFX is currently unregulated. However, that doesn’t mean NordFX is an unsafe or unreliable platform – orders can be executed in under half a second with full security.

Additional Features

NordFX offers a variety of additional features to entice potential users. These include a comprehensive ‘Education’ section on their website, with a Learning Centre and Glossary so investors can gain knowledge of how the financial markets work and make better investment decisions.

The brand also provides an economic calendar, a currency converter, a profit calculator, plus various other tools for in-depth analysis. One excellent forecast feature is the weekly analysis of various financial markets conducted by an experienced in-house analyst.

A VPS service is also available through Fozzy with a 24/7 uptime. This solution offers a stable, fast, and uninterruptible connection to NordFX.

Copy Trading

NordFX also offers a copy trading signals service. Experienced investors with profitable accounts can sell their tips to subscribers using the NordFX Pro account.

The experts set their own subscription price, and all the revenue adds to their bottom line, increasing profit margins for those willing to put in the time. Plus, there are no restrictions on strategies. You can hedge, use scalping, and EAs.

For traders who are looking to save time and effort on their research, there is the opportunity to purchase signals.

Select from the top signal providers by reviewing their profitability over the last month, day, or all-time. The price is paid purely on the profits of a trade, starting from 10%. So, if the trade is not successful, you pay nothing for the signal.

Execution is also automatic, meaning that even while you’re not logged in to the MetaTrader platforms, you will be placing trades. However, note that while this can result in passive profits, it means that your capital is at risk even while you’re not at the trading desk. The good news is that you can stop copying at any time.

Account Types

NordFX offers Zero and Pro accounts for its MT4 or MT5 platforms, catering to different needs:

Both types of accounts offer high leverage up to 1:1000 and 3% free margin interest annually.

Benefits

NordFX has an extensive record of delivering optimal performance for its users, dating back to 2008. The platform is easy to pick up yet complex enough for experienced traders. There is a solid range of additional features, competitive spreads, and high leverage. Plus, the copy trading functionality allows both experts and beginners to profit from one another through signal sharing.

The MT4 and more recently MT5 integration, is a significant step for NordFX and illustrates their approach to professional trading. Implementing the ‘de facto’ pro trader tool set sets the brand apart from other competitors of similar standing and moves the firm up the pecking order of online brokers.

All in all, NordFX is a good choice for either new or experienced investors, giving easy access to a wide range of financial instruments. The inclusion of VPS and managed accounts are also two differentiating factors.

NordFX broker review

Drawbacks

Some investors may prefer to use online brokers regulated by more rigorous financial conduct authorities, with stricter adherence to international leverage limits and greater levels of consumer protection. High leverage rates could mean NordFX is ultimately too risky for many potential investors.

Trading Hours

The platform is available to use 24/7 for cryptos, though markets for different asset classes are open at various times. For example, the forex market is traded across four time zones varying upon which exchange is open:

Customer Support

NordFX has a responsive, knowledgeable customer support team, with 7 specific centers employing dozens of staff to help with inquiries. Users can choose to contact NordFX through a webchat (logo located at the top of the page), via various social channels, or by email at support@nordfx.com. However, if you wish to get hold of support via a phone number, here are a few region-specific options:

Customer support is available 24/5 and a small FAQ section is also present on the broker’s website. They can help with any questions you may have, including country-specific complaints (like India), demo account login, user agreement issues, and more.

The broker’s owner is NFX Capital VU Ltd. If you need to contact their headquarters, the office location is Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay Gros-Islet, Saint Lucia.

Security

NordFX is a relatively safe broker from an operational angle, with trades executed in under half a second. The MetaTrader interface also means users can invest on the go, while the servers are robust and efficient, providing a reliable service for professional, frequent traders.

NordFX Verdict

NordFX is a great choice for potential investors looking into online brokering platforms. They have a proven track record and offer the chance to trade on a broad array of asset types, a fully functional demo account, and extensive customer support. The extra features (such as in-depth market analysis and investor education) mean NordFX has several differentiating factors. Commission rates are competitive too.

FAQs

What Is The Minimum Deposit At NordFX?

The minimum deposit for the Fix account in $10. This is low versus competitors and makes NordFX popular with new investors.

Is NordFX Genuine?

Yes – NordFX is a genuine broker which was founded in 2008.

What Is The Highest Leverage At NordFX?

The highest leverage traders can access is 1:1000. This is because the brokerage is not regulated by a European, UK or Australian authority.

Does NordFX Have A Savings Account?

Yes, the broker has a DeFi savings account with a minimum deposit of $500. The account generates a passive income of up to 30% per annum.

Who Regulates NordFX?

NordFX are, at present, unregulated.

What Can I Trade On NordFX?

You can invest in 33 FX pairs, 11 cryptocurrencies, 4 commodities, 5 indices, and 68 stocks.

Is NordFX Legit?

Though unregulated, NordFX are a legitimate forex and CFD broker.

Does NordFX Accept US Clients?

At the time of writing, the broker doesn’t accept clients from the US.

The firm provides trading services that are legal in India. However, make sure you check with your local authority if this is still valid when you decide to invest.

How Do I Withdraw Money From NordFX?

Withdrawing from NordFX is simple. Log in to your account, go to Trader’s Cabinet, select Withdrawal, then click on the payment method you wish to use and process your request.

Is NordFX A Scammer?

No – NordFX is a trusted international broker with 1.7 million accounts opened across 190 countries.

How Do I Close My NordFX Account?

You need to contact the support team by email at support@nordfx.com or by phone (country-specific helplines can be found on the broker’s website) and request your account to be closed.

Is NordFX A Market Maker?

No, the online broker is not a market maker.

Top 3 Alternatives to NordFX

Compare NordFX with the top 3 similar brokers that accept traders from your location.

  1. IC Markets – IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.
    Go to IC Markets
  2. Vantage – Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to over 900,000 clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.
    Go to Vantage
  3. Fusion Markets – Fusion Markets is an online broker established in 2017 and regulated by the ASIC, VFSC and FSA. It is best known for its low-cost forex and CFD trading, although its multiple account types and copy trading solutions cater to a range of traders. New clients can sign up and start trading in 3 easy steps.
    Go to Fusion Markets

NordFX Comparison Table

Compare NordFX With Similar Brokers
NordFX IC Markets Vantage Fusion Markets
Rating 3.5 4.8 4.7 4.5
Markets Forex, CFDs, indices, commodities, cryptos, stocks CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds CFDs, Forex, Stocks, Indices, Commodities, Crypto
Demo Account Yes Yes Yes Yes
Minimum Deposit $10 $200 $50 $0
Minimum Trade $1 0.01 Lots 0.01 Lots 0.01 Lots
Regulators ASIC, CySEC, FSA FCA, ASIC, FSCA, VFSC ASIC, VFSC, FSA
Bonus Pro accounts can participate in the 100,000 USD Super Lottery 50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme
Education Yes Yes Yes No
Platforms MT4, MT5 MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade ProTrader, MT4, MT5, TradingView, DupliTrade MT4, MT5, cTrader, TradingView, DupliTrade
Leverage 1:1000 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) 1:500 1:500
Payment Methods 10 14 12 19
Visit Visit Visit Visit Visit
Review IC Markets
Review
Vantage
Review
Fusion Markets
Review

Compare Trading Instruments

Compare the markets and instruments offered by NordFX and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare NordFX Trading Instruments
NordFX IC Markets Vantage Fusion Markets
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes Yes Yes
Gold Yes Yes Yes Yes
Copper No No Yes Yes
Silver Yes Yes Yes Yes
Corn No Yes No Yes
Crypto Yes Yes Yes Yes
Futures No Yes No No
Options No No No No
ETFs No Yes Yes No
Bonds No Yes Yes No
Warrants No No No No
Spreadbetting No No Yes No
Volatility Index No Yes Yes No

NordFX vs Other Brokers

Compare NordFX with any other broker by selecting the other broker below.

 

Customer Reviews

  5 / 5

This average customer rating is based on 1 NordFX customer reviews submitted by our visitors.

If you have traded with NordFX we would really like to know about your experience - please submit your own review. Thank you.

  5

I really like NordFX. It’s easy to use, and they’ve been around since 2008, which is cool. I feel safe using it because they follow the rules. I trade cryptocurrencies, and it’s simple on NordFX. Customer support is great – they help me when I need it. With the awards they’ve won, it’s clear they’re doing a good job. If you’re in Finland and want to trade, NordFX is a good pick.

✍ Ascher | 🌐 Finland | January 25, 2024

Submit Your Own Review of NordFX

If you have experience trading with NordFX please share your personal review of the broker and what you think are strong and weak points. Thank you.

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Founded in 2008, NordFX is an offshore CFD broker offering forex, stock, commodities, indices and crypto trading to over 1.7 million clients in 190 countries. Traders access markets through the MT4 and MT5 platforms and benefit from low commissions, spreads from zero and decent extra features. Minimum deposits start from just $10 and very high leverage is available up to 1:1000.