Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

What is NordFX？

NordFX is a forex broker that offers over 30 currency pairs, bitcoin, other cryptocurrencies, gold and silver for your personal investment and trading options. It was established in 2008 and is registered in Vanuatu. NordFX provides online trading platforms and free training. The MetaTrader platforms also provide automated trading and market signals. However, it currently does not have any valid regulation.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

NordFX offers a wide range of financial instruments, providing traders with diverse trading opportunities. The availability of MetaTrader 4 across multiple devices enhances the convenience and accessibility of trading.

However, it is important to note that NordFX is an unregulated broker, which introduces higher risks to traders, especially regarding fund management and security. There have been reports of withdrawal issues, indicating potential challenges in this area.

NordFX Alternative Brokers

There are many alternative brokers to NordFX depending on the specific needs and preferences of the trader. Some popular options include:

• IC Markets - Best broker on the market with fast support and flawless spreads and order execution.

• Roboforex - Fast money deposit and withdrawal with similar spreads and commission for Forex and gold as other brokers but on stocks roboforex is King.

• AvaTrade - Good trading conditions overall with multiple CFD trading instruments and high number of forex pairs.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is NordFX Safe or Scam？

NordFX does not hold any valid regulatory licenses at this stage and its Vanuatu Financial Services Commission (VFSA) license is revoked and Cyprus Securities and Exchange Commission (CYSEC, License No. 209/13) license is a suspicious clone.

It is important to note that trading with an unregulated broker can be risky as there is no guarantee that the broker will act in the best interest of the trader. Regulated brokers are required to follow strict rules and regulations which are designed to protect traders from fraudulent activities.

Market Instruments

NordFX provides a diverse range of market instruments for traders to choose from. They offer a selection of FX pairs, allowing traders to participate in the foreign exchange market and take advantage of currency fluctuations.

Additionally, NordFX provides access to trading metals, such as gold and silver, offering opportunities for investors interested in the precious metals market. Cryptocurrencies are also available for trading, allowing traders to speculate on the price movements of popular digital assets like Bitcoin, Ethereum, and more.

Furthermore, NordFX offers CFDs on indices and stocks, enabling traders to trade popular global indices and individual stocks. Lastly, oil trading is available, allowing traders to participate in the energy markets by speculating on the price of crude oil.

Accounts

NordFX provides traders with a variety of account options to suit their individual needs. They offer demo accounts, allowing traders to practice their strategies and familiarize themselves with the trading platform without risking real money.

For live trading, NordFX offers three main account types: Fix, Pro, and Zero. The Fix account has a low minimum deposit requirement of $10, making it accessible to traders with smaller capital. The Pro account requires a minimum deposit of $250 and provides additional features and benefits, such as lower spreads and access to a broader range of trading instruments. The Zero account, with a minimum deposit of $500, is designed for more advanced traders who require tight spreads and direct market access.

Leverage

NordFX offers traders competitive leverage options, allowing them to amplify their trading positions. With leverage of up to 1:1000, traders can control larger positions in the market with a smaller amount of capital. This high leverage enables traders to potentially generate higher profits from successful trades.

However, it is important to note that while leverage can magnify profits, it also increases the risk of losses. Traders should exercise caution and carefully manage their risk when utilizing high leverage.

Spreads & Commissions

NordFX offers competitive spreads and commissions across its different account types. The Fix account has a spread starting from 2 pips, making it suitable for traders who prefer fixed spreads. The Pro account offers a tighter spread starting from 0.9 pips, appealing to traders who seek lower transaction costs. However, it's important to note that the Zero account stands out with a spread starting from 0.0 pips, providing traders with the potential for better pricing and reduced trading costs.

While the Fix and Pro accounts do not charge any commissions, the Zero account requires a commission of 0.0035% per trade on each side. Traders should consider their trading preferences and strategies to choose the account type that best aligns with their needs.

Below is a comparison table about spreads and commissions charged by different brokers:

Please note that the spreads and commissions may vary depending on the specific account types and trading conditions offered by each broker. It's advisable to refer to the official websites or contact the brokers directly for the most up-to-date and accurate information.

Trading Platforms

NordFX provides traders with the popular and widely recognized MetaTrader4 (MT4) platform, available for Windows, Mac, iPhone, and Android devices. MT4 is known for its user-friendly interface, advanced charting tools, and a wide range of technical indicators and analysis tools. With MT4, traders can access real-time market data, place trades, set stop-loss and take-profit levels, and manage their positions efficiently.

The platform also supports automated trading through expert advisors (EAs), allowing traders to implement and test their own trading strategies. Additionally, NordFX offers mobile versions of MT4, enabling traders to stay connected and manage their trades on the go.

Overall, NordFX's provision of MT4 across multiple devices ensures convenience, flexibility, and a seamless trading experience for its clients.

See the trading platform comparison table below:

Trading Tools

NordFX offers a range of useful trading tools designed to enhance the trading experience and provide valuable market insights. Traders can access various analysis tools, including technical analysis reports and market news updates, which can help them make informed trading decisions. The Economic Calendar feature keeps traders updated on important economic events and their potential impact on the markets. NordFX also offers Trading Signals, which provide valuable trading ideas and recommendations generated by experienced analysts.

For traders who require uninterrupted trading, NordFX offers Virtual Private Server (VPS) hosting, ensuring reliable and high-speed trading execution. Additionally, the Trader's Calculator helps traders calculate position sizes, profit/loss, and other important trading parameters. Lastly, the Currency Converter tool allows for quick and easy conversion of currencies. These trading tools provided by NordFX aim to empower traders with valuable information, analysis, and resources to support their trading strategies and decision-making processes.

Deposits & Withdrawals

NordFX offers a variety of convenient deposit and withdrawal options to cater to the diverse needs of its clients. Traders can fund their accounts using Bank Transfer, Bank Cards, Online Payment Systems, Online Exchange Services, and Internal Transfer.

Base Currencies:

USD, EUR, CNY, IDR, GBP, VND, THB, PHP

NordFX minimum deposit vs other brokers

The minimum deposit requirement is set at a low amount of $10, making it accessible for traders of different levels.

Most deposits are free of charge and processed instantly, allowing traders to quickly start trading. Withdrawals are typically processed within 1 business day, ensuring efficient access to funds. However, it's important to note that withdrawal fees may vary depending on the chosen withdrawal method.

Customer Service

NordFX places a strong emphasis on customer support and offers multiple channels for traders to get in touch with their team. Clients can utilize the online chat feature on their website for immediate assistance, or they can opt to contact NordFX through phone or email. Additionally, traders have the option to send messages online for any inquiries or concerns they may have. NordFX also maintains an active presence on various social media platforms, including Telegram, Twitter, Facebook, Instagram, YouTube, LinkedIn, and Pinterest.

Overall, NordFX's customer service is considered reliable and responsive, with various options available for traders to seek assistance.

Note: These pros and cons are subjective and may vary depending on the individual's experience with NordFX's customer service.

User Exposure on WikiFX

On our website, you can see that some reports of unable to withdraw. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

Education

NordFX provides a range of educational resources to support traders in their journey. They offer comprehensive information and resources on various topics, including Forex trading, through their dedicated Forex section. Traders can access a glossary that helps them understand key trading terms and concepts. Additionally, NordFX has a learning center that offers educational materials, tutorials, and guides to enhance traders' knowledge and skills. They also provide useful articles that cover market analysis, trading strategies, and other relevant topics.

Conclusion

In conclusion, NordFX offers a wide range of financial instruments, competitive trading conditions, and multiple trading platforms, making it an attractive choice for traders. However, it is important to note that NordFX is an unregulated broker, which may raise concerns regarding the safety of funds and overall credibility. Traders should exercise caution and carefully evaluate the associated risks before deciding to trade with NordFX. It is recommended to conduct thorough research, seek additional information, and consider alternative regulated brokers that provide stronger regulatory oversight and investor protection.

Frequently Asked Questions (FAQs)

Overview of BUX Markets

BUX Markets, operated by BUX Financial Services Limited, is a regulated financial institution registered in the United Kingdom. It is authorized and regulated by the Financial Conduct Authority (FCA) with license number 184333. The company has been regulated since December 2001, and its adherence to financial regulations is overseen by the FCA to ensure market integrity and investor protection. However, it is important to note that BUX Markets does not currently have a trading software available.

BUX Markets offers a diverse range of tradable assets, including indices, currencies, shares, ETFs, commodities, interest rates & bonds, and cryptocurrencies. They provide two types of accounts: retail and professional, with a minimum deposit requirement of $100. The broker offers a demo account for practice trading and various educational resources such as webinars, guides, and videos to support traders' learning.

The proprietary trading platform provided by BUX Markets is called “TradeHub®,” offering advanced indicators, charts, and one-click trading. The platform supports trading across multiple markets and is accessible on PCs, tablets, and mobile devices. Customer support is available through phone and email during business hours, and there is a trading desk for trade-related inquiries.

Pros and Cons

BUX Markets, operated by BUX Financial Services Limited, is a regulated trading platform based in the United Kingdom. It offers a range of tradable assets, including indices, currencies, shares, ETFs, commodities, interest rates & bonds, and cryptocurrencies. The company provides two types of accounts, retail and professional, with a minimum deposit requirement of $100. BUX Markets has a proprietary trading platform called “TradeHub®” and offers educational resources such as webinars, guides, and videos. Customer support is available via phone and email during business hours, and a trading desk is available for trade-related inquiries. While BUX Markets is regulated and offers a diverse range of trading options, it's worth noting that its spreads are not considered particularly competitive compared to other market participants.

Is BUX Markets Legit？

BUX Markets, operating under the licensed institution BUX Financial Services Limited, is regulated by the Financial Conduct Authority (FCA) in the United Kingdom. The company holds a Market Making (MM) license with license number 184333. The regulatory oversight provided by the FCA ensures that BUX Markets adheres to financial regulations and standards.

Market Instruments

BUX Markets offers a variety of market instruments for trading.

Indices: BUX Markets provides trading opportunities for various indices, including the UK 100 Future, Wall Street Future, US 500 Future, US Tech 100 Future, Germany 30 Future, France 40 Future, and other European and Asian indices.

Currencies: Traders can access the foreign exchange market through BUX Markets. They offer currency pairs such as AUDCAD, AUDCHF, AUDJPY, AUDNZD, AUDUSD, CADCHF, CADJPY, CHFJPY, EURAUD, and other combinations.

Shares: BUX Markets allows trading of shares from different countries. They offer shares in various market segments like the UK Blue Chip, UK Mid Cap, US Large Cap, France Large Cap, Germany Large Cap, and many more.

ETFs: BUX Markets provides access to exchange-traded funds (ETFs) that track underlying indices or commodities. Some of the available ETFs include Powershares QQQ Nasdaq, SPDR DJIA Trust, SPDR Gold Trust, SPDR S&P 500 ETF Trust, Vanguard MSCI Emerging Markets, iShares FTSE 100, and iShares Silver Trust.

Commodities: Traders can participate in commodity markets through BUX Markets. They offer futures contracts for metals like gold, silver, and platinum, as well as energy commodities like US Light Crude Oil and Brent Crude Oil. Additionally, there are futures contracts for soft commodities like Feed Wheat.

Interest Rates & Bonds: BUX Markets provides trading opportunities in interest rates and bonds. Traders can access products like 3-Month Short Sterling Future and Long Gilt Future in the United Kingdom, and Bund Future, Bobl Future, and Schatz Future in Germany.

Cryptocurrencies: BUX Markets also claims to offer trading options in cryptocurrencies.

Account Types

BUX Markets offers two types of accounts: one for retail traders and one for professional traders. The minimum deposit required to start trading is $100, which is in line with the standard in the industry. Additionally, BUX Markets provides demo trading accounts that allow users to practice trading online using virtual funds. These demo accounts serve as a way for traders to familiarize themselves with the trading platform and the services offered by the broker, while also allowing them to test their trading strategies in a risk-free environment.

In addition to the retail account, BUX Markets offers a premium service targeted towards traders who may qualify as Professional Clients. Professional Clients are exempt from certain product intervention measures introduced by ESMA. To be classified as a Professional Client, traders need to meet at least two out of the following three criteria: having executed significant leverage trades at an average frequency of 10 per quarter over the last 4 quarters, possessing a financial instrument portfolio (including cash deposits) exceeding €500,000, or having at least one year of professional experience in a financial sector position that requires knowledge of leveraged products.

How to Open an Account？

To open an account with BUX Markets, follow these steps:

1. Visit the BUX Markets website and locate the “Start trading now” button.

2. Click on the “Start trading now” button to initiate the account opening process.

3. Fill in the required personal information, including your personal details such as name, date of birth, and nationality.

4. Provide your contact details, such as your email address and phone number, which will be used for communication purposes.

5. Enter your postal address to ensure accurate correspondence.

6. Proceed to provide the necessary financial information as requested by BUX Markets.

7. Share your trading experience details to give the broker an understanding of your level of expertise.

8. Finally, provide the required account details to set up your trading account with BUX Markets.

Leverage

BUX Markets offers leverage for different instruments based on specific ratios. For major currency pairs, the leverage provided is set at 30:1. When it comes to minor or currency pairs, the leverage ratio is 20:1. Odd currency pairs have a leverage ratio of 10:1. For gold, silver, and platinum futures, the leverage is set at 20:1. US light crude oil futures have a leverage ratio of 5:1, while Brent crude oil futures have a leverage ratio of 10:1. Lastly, UK, German, and other European bonds have a leverage ratio of 5:1. These leverage ratios determine the amount of exposure and risk that traders can take in their positions.

Spreads & Commissions

Nabtrade offers competitive spreads across various global markets, enhancing trading efficiency for investors. Key examples include:

• EUR/USD: Features a tight spread of 1.2 pips with a bid of 1.08796 and an ask of 1.08808.

• Gold: Trades with a spread of 2.0 points between the bid at 2,354.4 and the ask at 2,356.4.

• Germany 30 Rolling (24): Offers a minimal spread of 1.0 point, with a bid of 18,333.5 and an ask of 18,334.5.

These spreads reflect nabtrade's commitment to providing cost-effective trading options in forex, commodities, and indices.

Fees

Overall fees at BUX Markets are focused on keeping costs low to enhance performance. This includes minimizing spreads, rollover costs, and financing costs. Access to personalized customer service in London is provided free of charge, and there are no account charges.

Funding charges apply for overnight financing, typically at a rate of 0.0098% + ARR (0.0096% + ARR for GBP denominated assets). Long positions attract financing charges, while short positions may receive financial interest credited to the account. Cryptocurrencies may have significantly different financing charges, so it is advisable to review the specific details.

When futures are the reference market, BUX Markets charges only half of the bid offer for rollovers from one contract to the next. This means that the new position is only 50% of the standard spread for that market, reducing the cost for traders.

Inactivity fees are applicable if a trading account remains inactive for 180 days. After this period, an Inactivity Fee will be charged, and if the account continues to be inactive, the fee will recur in increments of £10 in subsequent periods of 30 calendar days. It's important to refer to the company's Terms and Conditions for more information, particularly regarding accounts held in currencies other than GBP.

Deposit & Withdrawal

Credit/Debit Card:

BUX Markets allows users to fund their trading account using both debit and credit cards. Deposits made through these payment methods are processed immediately. It is important to note that the name on the card must match the name on the trading account. Deposits made with credit/debit cards are generally free of charge, except for cards issued outside of the European Economic Area (EEA), which may incur a 1.75% transaction fee. However, BUX Markets only accepts card payments that are 3-D secure, which adds an extra layer of protection against online fraud. Additionally, it is worth mentioning that BUX Markets does not accept third-party payments to maintain compliance with its internal policies.

Bank Wire Transfer:

BUX Markets also accepts deposits through bank wire transfer in various currencies such as EUR, GBP, USD, SEK, DKK, SGD, and CHF. To initiate a bank transfer, the account holder's name should match the name on the BUX Markets account. It is advisable to include the account holder's name and trading account number as a reference to ensure smooth allocation of funds. For the first deposit in GBP via bank transfer, BUX Markets may require a copy of a bank statement or transaction receipt. Cash deposits are not accepted due to money laundering regulations. Similar to credit/debit card deposits, third-party payments are not allowed, and users should ensure they fund their account with their own funds. Bank transfers may take up to 5 working days to appear in the trading account.

Withdrawing Funds:

The process of withdrawing funds from a BUX Markets account is straightforward. If a withdrawal is requested using a credit or debit card, the funds are debited from the trading account upon receipt of the request. BUX Markets returns funds only to their original source. Withdrawal requests made after 12:30 (GMT) are processed on the following working day. The withdrawal process generally takes up to 5 working days to complete. While it is possible to withdraw funds via bank wire transfer, debit/credit cards are the preferred method, and cheque refunds are not available.

Payment Methods:

BUX Markets accepts various payment methods, including VISA, Maestro, Mastercard, bank wire transfer, and Klarna. There is a minimum deposit requirement of 100 GBP/EUR/USD for credit card deposits, while there is no minimum deposit requirement for bank wire transfers.

Trading Platforms

BUX Markets offers traders a proprietary trading platform called “TradeHub®,” which differentiates itself from the popular MT4/MT5 platforms.

TradeHub® provides advanced indicators and charts for market analysis and allows for one-click trading directly from the charts. The platform's lifecycle costs are presented neutrally, including spreads, funding, and rollover costs.

Traders can opt for variable margin levels, ranging from low to 100%, to manage risk. Notional value trades allow users to input specific amounts for trades, providing options to adjust positions based on individual needs, strategies, or investment goals.

TradeHub® supports trading across multiple markets and is accessible on PCs, tablets, and mobile devices through the iOS and Android app. The platform offers a 24-hour dealing desk and emphasizes fast and accurate execution. Telephone trading is available without charge. Personal client service is based in London to provide support and assistance to traders.

Trading Tools

The trading tools offered by BUX Markets encompass various features to support traders in their activities. One of these tools is the TradeHub® charting package, which allows users to trade directly from the charts. The charts in TradeHub® provide persistent indicators that apply to the new instrument when it is changed, maintaining consistency. Traders have the option to customize technical indicators' parameters according to their preferences and strategies.

The TradeHub® charting package also includes pattern recognition capabilities, enabling users to identify market patterns and trends. The charts support bid, offer, and mid-prices for different timeframes and instruments. Users can choose from a variety of chart types and studies to analyze market data.

The charting package is compatible with mobile devices, allowing traders to access and monitor their trades. Simple filters are available to facilitate quick and accurate searches. The charts are browser-based, eliminating the need for additional software downloads.

Educational Resources

BUX Markets provides educational resources to help clients enhance their performance in CFD Trading and Spread Betting. These resources include webinars, guides, and videos, which are available to clients at no cost. These materials can simplify the learning process and provide insights into BUX Markets' products.

Additionally, customers have access to expert client services teams based in London. These teams can offer further assistance and support to clients.

The educational resources cover topics such as Spread Betting and CFDs, and include frequently asked questions (FAQs), a glossary of relevant terms, and useful dates related to trading activities. These resources are designed to provide clients with information and knowledge to make informed decisions in their trading endeavors.

Customer Support

BUX Markets provides customer support services during regular business hours from Monday to Friday, between 8:00 and 17:00 UK time. Clients can reach out to the service team through phone or email for assistance with their inquiries. The company aims to respond to customer queries as promptly as possible.

For trade-related inquiries, BUX Markets offers support through their trading desk. The trading desk's phone lines are open from 22:15 on Sunday until 22:15 on Friday, UK time. Clients can direct their trading-related questions to the trading desk via phone or email.

BUX Markets is headquartered in London, specifically at the following address: BUX Financial Services Limited, 3rd Floor, Canvas, 35 Luke Street, London, EC2A 4LH, United Kingdom. Clients can contact the company's London office through the provided phone number or email address for any support needs.

Conclusion

In conclusion, BUX Markets is a registered company, BUX Financial Services Limited, operating in the United Kingdom and regulated by the Financial Conduct Authority (FCA). With over 20 years of experience, BUX Markets offers a variety of tradable assets, including indices, currencies, shares, ETFs, commodities, interest rates & bonds, and cryptocurrencies. They provide a proprietary trading platform called “TradeHub®,” which offers advanced charting and one-click trading capabilities. BUX Markets offers two types of accounts, retail and professional, with a minimum deposit requirement of $100. They also provide a demo account for practice trading and offer customer support through phone and email during business hours. However, it should be noted that BUX Markets does not have a trading software available, and their spreads are not considered particularly competitive compared to other market participants.

Educational Resources

Webinars, trading manuals, a dictionary of words, frequently asked questions, and instructional videos are all available. It's awesome that you can get them at no cost from the site. This is great since it makes learning about internet trading accessible to complete novices. To put it another way, they want you to make well-informed trading decisions, and this is evidence of that. The benefits of the broker's products and how they can help you can be researched as well. CM Trading has an extensive library of learning resources available if you feel you need some additional guidance.

FAQs

Is BUX Markets a legitimate company？

Yes, BUX Markets is a legitimate company registered in the United Kingdom and regulated by the Financial Conduct Authority (FCA).

What trading platforms does BUX Markets offer？

BUX Markets offers a proprietary trading platform called “TradeHub®”

What are the available account types at BUX Markets？

BUX Markets offers retail and professional accounts to cater to different types of traders.

What markets and instruments can I trade with BUX Markets？

BUX Markets offers a wide range of tradable assets, including indices, currencies, shares, ETFs, commodities, interest rates & bonds, and cryptocurrencies.

What is the minimum deposit required to open an account with BUX Markets？

The minimum deposit requirement is $100.

What is the maximum leverage offered by BUX Markets？

The maximum leverage is set at 1:30 for most instruments.