NordFX Review

Founded way back in 2008, NordFX is an established online broker that offers very competitive forex and CFD trading conditions to clients from across the globe. They give you the opportunity to trade on a generous selection of financial instruments across different asset classes, including forex, stocks and commodities such as metals and energies. You can trade on the user-friendly MetaTrader 4 platforms which give you convenient market access across all of your devices. If you don’t have the time or knowledge to trade manually at the moment, they also have copy trading and managed account solutions for traders, investors and strategy providers. For anyone who is looking to trade forex and other markets with minimal hassle and excellent support, the broker is certainly worth consideration. That being said, read on to find out more about NordFX and the great range of trading products and services they provide to forex traders of all experience levels.

Trading Conditions

I found the NordFX trading conditions to be very good, with tight spreads from as low as 0.0 pips on major currency pairs which can help you to save in trading costs over the long term. The broker has rapid execution speeds which means that you can get your trades placed at some of the best available prices at all times, without any dealing desk interference.

The minimum deposit to get started is just $10, whilst you can even open a free demo account to practice your trading strategies before making a commitment. I like how they do not put any restrictions on trading, which means you can use scalping systems and run automated systems without any issues.

NordFX have flexible account types for all of your different trading strategies without any hidden fees. There is a good variety of quick and easy deposit and withdrawal methods, including e-wallets. What’s great is that NordFX doesn’t charge for funding but you might want to check with your payment provider if there will be any third-party fees.

In terms of support, NordFX provides an excellent multilingual customer support desk. They are available 24/5 and can be reached via web form, instant web chat, email, and telephone. They are also on social media channels: Facebook, Twitter, LinkedIn, and YouTube. I found the NordFX customer support a pleasure to deal with and very quick to respond. I wouldn’t have any problem reaching out to them again in the future should I have any questions.

Markets

NordFX have a wide selection of CFD instruments which you can buy and sell without needing to physically own the underlying asset. This makes online trading with the broker accessible to anyone who has an internet connection and the MetaTrader 4 platform which you can download for free on the NordFX website. You will find a great selection of forex currency pairs, including major, minor and exotic crosses. The broker also has some major stock CFDs, popular commodities and even provides crypto trading via www.nordfx.io. Whatever your interests, I think there is something for everyone to trade and build a diversified portfolio according to their own financial goals.

Platforms

MetaTrader 4

NordFX provides you with one of the leading CFD trading platforms in MetaTrader 4 (MT4). You can get quick and easy access to the markets as and when you need it from your web, desktop and mobile devices. MT4 has a very intuitive interface and a short learning curve which makes it a popular choice for beginners. That being said, it is also packed with plenty of powerful trading tools to satisfy the needs of the most demanding of traders.

You will find everything that you need to analyse the markets, place and manage your positions with relative ease. You can load multiple charts to simultaneously follow all of your favorite trading instruments across a variety of timeframes. You can set alerts to notify you when a price level has been hit or if an indicator value has been reached. NordFX have very good trading conditions on the MT4 platform that are comparable with some of the other top forex brokers you will find.

The MT4 platform is free to use, with no ongoing platform fees or costs for real time price quotes. You simply pay the broker a very small fee in terms of the spread and/or commission when you place your trades. Just keep in mind that there may be some other normal fees such as swaps if you hold positions overnight.

I think MT4 is the ideal platform for anyone who is looking to trade forex with all of the tools and features you need at your disposal. I have used it for many years and have never felt the need to switch to anything else as it does everything that I need it to and more.

NordFX MT4 Platforms
NordFX MT4 Platforms

MT4 WebTrader

You can choose to trade online with NordFX through the MT4 web platform which runs directly in your web browser without you needing to download or install any additional software. This is convenient in case you are constantly switching between devices or if you need to access your account in an emergency from someone else’s device.

MT4 Desktop Platform

If you are looking for the full MT4 trading experience, then you will want to download and trade on the NordFX MT4 platform. This has all of the features and functionalities that you would expect from the leading forex trading platforms, including support for automated trading via expert advisors (EAs).

MT4 App

For those of you who like to trade whilst on the go and from the comfort of your mobile devices, the NordFX MT4 app can be a great solution. They have apps for iOS and Android which enable you to get convenient access to the markets from anywhere, at any time. I am a big fan of the MT4 apps as I like to be able to keep track of my positions at all times and follow the latest market moves without needing to be at my desk.

MT4 Multiterminal

If that wasn’t enough, there is the NordFX MT4 Multiterminal which allows account managers to operate several accounts at the same time. This can be very helpful for those whom manage investors’ accounts and for traders working with many accounts simultaneously, such as PAMM managers and trading signal providers in the NordFX Copy Trading service. The terminal successfully combines core functionalities that allow effective trading with many accounts and with exceptional usability. The program interface is similar to that of the MetaTrader 4 Client Terminal. It is very simple to use, any trader using the MetaTrader 4 platform can easily get acquainted to the program within a few minutes.

MT4 Multiterminal
MT4 Multiterminal

NordFX Copy Trading

In addition to the MQL signals you can get in the MT4 platform, NordFX also provide their very own copy trading service. This can be a great way to copy other traders’ strategies or to offer your own strategy for others to copy you. It allows experienced traders to possible earn additional profit by selling their trading signals, and for beginners to learn from the experience of other by copying them.

I like how you can view the past performance of signal providers and choose who you want to copy according to your own preferences. You can add and remove signal providers at any time. I noticed some good results at the time of me writing this NordFX review but I think that it is important to emphasize that past performance is not an indication of what will happen in the future.

NordFX PAMM Account

NordFX provide very competitive PAMM accounts for money managers and investors. Percentage allocation management module, also known as percentage allocation money management or PAMM, is a form of pooled money forex trading. An investor gets to allocate their money in desired proportion to the qualified trader(s)/money manager(s) of their choice.

This is an option for those who do not want to trade themselves but wish to invest money and diversify their portfolio by investing in multiple PAMM accounts at the same time. The money managers can receive additional profits for managing investors’ funds, with more investors leading to more potential gains. As with the copy trading solution, you can see a table of results that show you how the PAMM accounts have been performing based on historical data.

Tools

You will find that MT4 is already fully loaded with more trading tools than most traders will ever need. There are technical indicators, drawing tools and graphical objects. All of these can be very useful when it comes to complex chart analysis to help you find potential entry and exit signals on your chosen CFD instruments.

You can also get access to a huge range of additional trading tools from the MQL marketplace which is accessible from directly within the MT4 platform. There are thousands of free and paid tools to further enhance the platforms capabilities. This includes indicators, scripts, expert advisors, signals and much more.

If you have the coding skills, you can even develop your own customized trading tools using the MQL programming interface. Otherwise, you could always hire a skilled programmer to do it for you from the MQL freelance community. Whatever your idea for a trading strategy, chances are that you can make it a reality with the NordFX MT4 platform and tools.

In addition to the significant amount of trading tools that are already built into the MetaTrader 4 platforms, NordFX kindly provides clients with some extra helpful standalone trading tools, such as an Economic Calendar, Virtual Private Server (VPS), Trading Signals, Trading Calculators and more.

Economic Calendar

The news calendar lets you follow up-to-date economic information with the calendar of important news events with detailed explanations, information about forthcoming publications on the global markets, estimations of expected volatility and much more. You can set up the economic calendar of events and news according to your preferences, selecting necessary parameters. I personally think that the economic calendar is an indispensable tool for every trader and I would always like to check the latest news before making any trade decision.

Virtual Private Server (VPS)

If you need stable, fast and uninterruptable connections to NordFX trading servers, then you might want to consider the VPS service that they provide via Fozzy. The Fozzy Forex VPS is a virtual server that can run your trading platforms remotely which can significantly help to reduce the negative factors that can impact your trading such as connection failures and lacklustre internet speeds. All NordFX customers can order a special Forex VPS at a discounted price. I think that a Forex VPS can be an excellent solution for those of you who plan on running automated trading systems around the clock but do not always want your computer switched on.

Trading Signals

If you are looking to take a more hands-off approach to your trading, then you could consider the MQL trading signals. This popular signal service is directly integrated into MT4 platforms, allowing traders to connect to thousands of trading signals providers all over the world and copy preferred signals in their accounts automatically. You can also become a signals provider and make an extra income if you have a successful strategy that you would like to share with other traders.

Trading Calculators

There is a nice selection of trading calculators on the NordFX website which are free to use. These can be handy tools for those of you who need to conduct calculations in a hurry or if you are not that well versed in math’s and just want to confirm your figures beforehand.

Education

NordFX provides you with a good selection of educational materials which can help keep you up to date with some of the latest market happenings. They include frequently updated Market News and Analysis, Trading Video Tutorials, Articles and a Trading Glossary. I found the educational content to be very well-presented and insightful. This can provide you with inspiration for trading ideas and also help you to brush up on your knowledge of the markets.

Conclusion

Putting everything together, I think it is safe to say that NordFX is a very competitive forex broker with a good selection of trading products and services for anyone who wants to trade by themselves or copy the trading strategies of more experienced traders. You can get seamless market access as and when you need it via easy to use trading platforms and apps. There are plenty of tools to build your own trading strategies and market analysis to help you make informed trade decisions. You can trade with low spreads, fast execution speeds and no hidden costs. They have everything most retail traders need under one roof with a low minimum deposit requirement and free demo accounts to see if they can meet your demands risk-free. Flexible accounts types and payment options help to ensure that are suitable for all types of trader. All of this is backed by excellent support and years of experience in the brokerage industry.

NordFX

0.00
8

Markets

8.0/10

Platforms

8.0/10

Tools

8.0/10

Education

8.0/10

Pros

  • User-friendly Trading Platforms and Apps
  • Good Selection of Trading Instruments
  • Tight Spreads From 0.0 pips
  • Market Research and Educational Resources
  • Copy Trading Signals and PAMM Accounts
  • Flexible Account Types
  • Various Payment Options
  • Discounted Forex VPS
  • Quick and Easy Account Registration
  • Excellent Support

Cons

  • Cannot accept USA traders
  • No MetaTrader 5 platforms