NSFX represents a perfect solution for traders who are sick and tired of run-of-the-mill Forex brokers that all look alike and want their Forex broker to stand out from the crowd.
NSDX Forex broker is one of few dealers who put their money where their mouth is and have been doing so since 2012. They do not hide their employees’ names and bios. They show them in a bout of transparency only the top Forex brokers would even dare to consider.
Other than full and complete transparency, it should be noted that NSFX is in full compliance with several regulatory bodies both in the EU and outside. Their clients’ funds are segregated in Tier-1 banks, so they cannot be accessed without their clients’ knowledge and consent.
Licensed by the Malta Financial Services Authority – also known as the MFSA – and have been known to fully cooperate with the FSA, MiFID and other regulatory bodies. This and the wide selection of more than 70 different currency pairs, plus CFDs, indices, oil, gold and silver makes NSFX the ideal choice for the traders of the new millennium.
NSFX Accounts
First of all, NSFX features their own demo account for their future clients to practice their Forex trading strategies and skills in a safe yet realistic environment. But once that is out of the way, the registration and login process are relatively straightforward. As invasive as the registration process may seem, it is the only way to comply with the strict rules and regulations imposed by the regulatory bodies.
As for other accounts, NSFX offers a standard, professional or VIP account. They are virtually identical in some respects, such as lot size, the currency pairs that are available for trading, deposit details, mobile trading options, live support and basic analysis. On the other hand, their minimum deposits, spreads, margin calls and dedicated support staff are vastly different.
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For instance Standard account requires only $300 to open and has the lowest minimal trading size of all, but the perks are also the lowest with this account. A professional NSFX account requires a $3,000 deposit, but comes with better spreads and leverage and involves no dealing desk privileges. Finally, the VIP account requires $50,000 in deposit, but offers the widest selection of options to choose from in terms of leverage, execution and support, the tightest spreads and a monthly performance analysis report.
NSFX commissions and spreads
As far as we could tell, there are no commissions when it comes to NSFX. There are spreads though. Now, these go as tight as 0.9 pips, but only on the EUR/USD pair and under ideal conditions. Leverage is 1:200 for the standard account, although it gets better if you upgrade and opt for it. Still, this part is arguably the weakest point so far.
Deposit methods, on the other hand, are pretty varied, as NSFX accepts funding from your bank account, credit card, wire transfer and even web services such as Skrill. Withdrawal is done in the same method. Some services such as Skrill involve a 3% withdrawal fee. Of course, any additional fees charged by banks and service providers are not included and the customary processing time is one business day.
Trading Platform
The entire purpose that NSFX trading platform was built upon was to enable their clients to access it using any standard device. This means fixed spreads and one of MT4-derived products, according to the type of account selected.
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There is the Standard MT4, which is pretty rudimentary and what you would expect. Next, there is the Professional ECN and VIP ECN. Apart from the MetaTrader4, there is also the NSFX Pro. It is built for speed and can give a trader the cutting edge that their competitors may find lacking. Both MT4 and NSFX come in different varieties: web-based platform, desktop trader and iPhone/Android traders.
What sets them apart is their approach to this technology. Sure, many brokers use MT4 as the basic trading platform, but few actually invest time and resources into upgrading it into something better. Customization options are great with every single tool at your disposal within a single click range. The MT4 comes in a traditional and ECN form, although the latter is not available to standard account holders.
Not all brokers are available of providing Liquidity connections, as this requires a high level of integration with major banks. NSFX is one of these. This also means that ECN users have access to professional trading clients that would otherwise not be available at all. It also enables extremely fast execution of orders, which is always a plus.
Customer Support
Customer support is available in English, German, Arabic, Turkish, and Italian. Each new account gets their own manager, although VIP accounts get top-tier service, as one might expect.
The service can be reached via email, live chat or telephone. There is an extensive and free trading academy, demo account and various webinars, training sessions, video tutorials, courses and eBooks.
The Verdict
It really warms our hearts to see a broker that is as transparent and honest as NSFX. It just goes to show that honest brokers have nothing to hide, except for their clients’ private records. Of course, they are not going to hide them from regulatory bodies, but online safety is one of their key priorities. This is why all the funds are segregated and secured, complete with negative balance protection.
Their dedication to technological innovation enables them to go toe-to-toe with any competitor on the Forex market. They have done everything in their power to remove technological constraints that would otherwise impede their clients in their course of trading.
NSFX also offers a variety of learning aids and customer support available around the clock. Their deposit and withdrawal options are on par with modern standards, and the only serious fault that we have been able to locate thus far has been their limited leverage of 1:200, but this is probably a part of their business policy.
Pros
- Highly regulated and complies to standards from regulatory bodies in and out of Europe
- Fully segregated accounts that cannot be readily accessed without their clients’ knowledge or consent
- All accounts come with negative balance protection in order to ensure you can never go under
- A wide selection of currency pairs, CFDs, indices and even some commodities available to all clients, regardless of their account type
- Standard account available for as low as $300
- Personal account manager on lowest-tier account, dedicated for VIP clients
- A generous selection of trading platforms, specialized for web, desktop or mobile trading
- MT4, ECN and NSFX pro platforms
- Relatively low spreads, going as low as 0.9 pips, but only under certain conditions
- Accepts a wide variety of payment methods and allows for reliable withdrawal of funds
- A plethora of educational materials including webinars, eBooks, video clips, tutorials, personalized training sessions, and other training methods
- Demo account free of charge
Cons
- No dedicated mini account
- Leverage is 1:200
- Slightly invasive registration procedure, due to heavy regulation