NordFX Review Pros and Cons Explained
NordFX has been around since 2008, which makes it one of the longer-running names in online trading. It sticks to what most traders want, MetaTrader 4 (MT4) and MetaTrader 5 (MT5), a very low minimum deposit, and an ECN-style option with low commissions. The biggest change in recent years is its move away from European regulation, which affects who the broker is best suited for.
NordFX doesn’t push a custom platform. Instead, it focuses on the MetaTrader suite and offers two main account styles, one with no commission and wider spreads, and another with raw spreads plus a trade commission. That simple setup works well, but the broker’s offshore regulation is the main trade-off.
Quick Facts
- Headquarters: Vanuatu
- Regulators: FSA, FSC Mauritius
- Tier 1 regulator: No
- Public company: No
- Founded: 2008
- Execution models: ECN/STP, Market Maker
- Minimum deposit: $10
- Negative balance protection: Yes
- Platforms: MetaTrader 4, MetaTrader 5
Typical Trading Costs (Averages Listed)
- EUR/USD: 1.2 pips
- GBP/USD: 1.9 pips
- WTI crude oil: $0.03
- Gold: $0.24
- Bitcoin: $328
Other Highlights
- Minimum raw spreads: 1
- Minimum standard spreads: 1
- Minimum forex commission: 0
- Funding methods: 25+
- Islamic account: Yes
- Signals: Yes
- US clients accepted: No
- Managed accounts: Listed
NordFX Core Takeaways
- Two-model setup: Market Maker pricing on the Pro account, ECN/STP style pricing on the Zero account.
- MetaTrader only: Full support for MT4 and MT5.
- Offshore licensing: Regulated through Mauritius and Seychelles.
- Good market coverage: Forex, indices, commodities, stocks, and crypto CFDs.
- Low entry point: The Pro account starts at $10.
- Execution claims: The broker states execution is usually under 0.1 seconds.
- Negative balance protection: Included across account types.
Regulation and Safety
Broker regulation matters most when real money is involved. NordFX currently runs under offshore regulators.
- Regulators: FSA (Seychelles), FSC (Mauritius)
- License numbers: SD065, GB24204016
- Regulatory tier: 3
Current Entities and Licenses
| Country/Region | Regulator | License Number | Tier |
|---|---|---|---|
| Seychelles | FSA | SD065 | 3 |
| Mauritius | FSC | GB24204016 | 3 |
The company is registered offshore in St Lucia (registration number 2023-00470). It was previously regulated in Vanuatu, but that is no longer the case.
Accounts and Pricing
NordFX keeps things simple. You pick between a spread-only account or raw spreads with a commission. If you trade often, the Zero account is usually the better fit.
Account Types
- Pro Account: No commission, spreads advertised from 10 pips on forex.
- Zero Account: Raw ECN spreads from 0.0 pips, commission of $3.50 per lot per side ($7.00 round turn).
EUR/USD Cost Example
| Account | Avg Spread (EUR/USD) | Round-Turn Commission | Total Cost (1.0 lot) |
|---|---|---|---|
| Pro | ~1.0 pips | $0.00 | ~$100.00 |
| Zero | ~0.1 pips | $7.00 | ~$8.00 |
The Zero account pricing is strong and compares well with other low-cost brokers.
Fees and Other Costs
- Inactivity fee: $20 per year, charged after 12 months with no activity.
- Swap fees: Charged or credited for overnight positions (shown inside MT4/MT5).
- Deposit and withdrawal fees: NordFX doesn’t charge its own fees, third-party fees may still apply.
- Interest on free cash: On MT5, NordFX lists interest on unused funds at 3.8% annualized.
Trading Hours
| Asset Class | From | To |
|---|---|---|
| Currency pairs | Sunday 22:05 | Friday 21:59 |
| Cryptocurrencies | Sunday 22:05 | Friday 21:59 |
| Commodities | Sunday 22:05 | Friday 21:59 |
| Crude oil | Sunday 22:05 | Friday 21:59 |
| Gold | Sunday 22:05 | Friday 21:59 |
| Metals | Sunday 22:05 | Friday 21:59 |
| Equity indices | Sunday 22:05 | Friday 21:59 |
Swaps and Islamic Accounts
If you hold a leveraged trade overnight, you’ll pay or receive swap. It’s based on the rate difference between the two currencies. You can check current swap rates directly inside MT4 or MT5.
NordFX also offers swap-free Islamic account options for traders who can’t pay or receive interest. Like most MetaTrader brokers, Wednesday swaps are usually adjusted to account for weekend settlement.
Swap Example (Zero Account)
Assume you buy 1.0 lot of EUR/USD with:
- Swap long: -$6.00 per night
- Swap short: +$1.50 per night
Holding 1 lot EUR/USD for one night:
| Direction | Spread Cost | Commission | Swap Cost | Total Cost |
|---|---|---|---|---|
| Buy | ~$1.00 | $7.00 | -$6.00 | $14.00 |
| Sell | ~$1.00 | $7.00 | +$1.50 | $6.50 |
Holding for seven nights:
| Direction | Spread Cost | Commission | Swap Cost (7 nights) | Total Cost |
|---|---|---|---|---|
| Buy | ~$1.00 | $7.00 | -$42.00 | $50.00 |
| Sell | ~$1.00 | $7.00 | +$10.52 | -$2.50 (Credit) |
Note: These are estimates based on a website snapshot. Swap rates change daily.
Markets You Can Trade
NordFX offers a solid selection of CFDs. It’s not the biggest list out there, but it covers the markets most people care about.
- Currency pairs
- Cryptocurrencies
- Commodities
- Crude oil
- Gold
- Metals
- Equity indices
- Stocks
The following categories are listed but not presented as core offerings in the same way:
- Stocks (non-CFDs)
- Bonds
- ETFs
- Options
- Futures
- Synthetics
Leverage
NordFX offers maximum leverage up to 1:1000. Instead of lowering leverage as positions grow, the broker limits position size. For example, on the Zero MT4 account, the limit is 50 lots per instrument. Forex can have the highest leverage, while other assets usually have lower caps.
What to Know About 1:1000 Leverage
- Risk increases: Bigger leverage means losses can grow quickly.
- Best for experienced traders: It fits strict strategies and tight risk control.
- Risk limits through caps: The broker uses maximum position limits instead of dynamic leverage.
Platforms and Trading Tools
NordFX stays with MetaTrader and that’s a plus for many traders. You get a stable setup without dealing with a custom platform.
- MetaTrader 4 (MT4): Reliable, widely used, strong support for indicators and Expert Advisors (EAs).
- MetaTrader 5 (MT5): More timeframes, more charting tools, and a newer interface.
Social Trading and Signals
NordFX includes a copy trading and signal system. Traders can act as signal providers and earn based on subscribers, or follow signal providers for a fee.
Demo Account
NordFX offers a free demo account with no stated time limit. It’s useful for learning MT4 or MT5, and for testing spreads and execution.
Education and Research
NordFX covers the basics. It offers market news, analysis, and an economic calendar. The education section could be stronger. A more organized course setup with webinars would help new traders.
Customer Support
- Support hours: 24/5
- Channels: Live chat, email, phone
- Website languages: EN, ES, AR, ZH, RU, PT, MS, TH, ID, plus others (17+ total)
Feedback from recent years often describes support as responsive and helpful. Some users mention getting contacted soon after registering and receiving help with platform features and account options.
Bonuses and Promotions
NordFX wasn’t promoting classic deposit bonuses at the time covered here. Most promotions appear tied to partners, affiliate programs, contests, and a site lottery. The homepage also promoted a 50% reduction in gold spreads. Fewer bonus offers can be a good sign since heavy bonus marketing often pushes traders to take on too much risk.
Opening an Account
The signup process is online and follows standard steps:
- Register: Fill out the online form.
- Verify: Upload KYC documents (photo ID and proof of address).
- Fund: Add money after approval.
- Trade: Download MT4 or MT5 and log in.
It’s usually quick and can be done the same day.
Minimum Deposit
- Pro account: $10
- Zero account: $100
Deposits and Withdrawals
This is one of NordFX’s strongest areas. The broker supports 25+ payment methods.
Common options include:
- Bank wire
- Credit and debit cards
- Skrill
- Neteller
- Perfect Money
- Cryptocurrencies (Bitcoin, Ethereum, USDT, and more)
- Binance Pay and other local methods
NordFX doesn’t charge internal deposit or withdrawal fees, but payment providers may add their own charges.
User feedback from 2024 and 2025 often points to very quick withdrawals, sometimes completed within hours or even minutes, especially for USDT and other crypto methods. A frequent complaint comes from certain regions, such as India, where local bank transfer options may not be available, pushing clients toward e-wallets or crypto instead.
Who NordFX Fits Best
If top-tier regulation is your main priority, NordFX won’t be the best match. If you’re an experienced trader who understands offshore brokers and wants high leverage, low entry costs, and strong pricing on a raw-spread account, NordFX can be a good option. The Zero account on MT5 stands out for cost and execution features, and withdrawals get a lot of praise from users.
FAQ
What countries does NordFX operate in?
NordFX accepts clients in many countries. Based on its website, it does not provide services to residents of: USA, Canada, EU (European Union), Russian Federation, Japan, Brazil, Ukraine, Cuba, Sudan, Syria, Malaysia, Panama, Indonesia, North Korea.
What is the minimum deposit for NordFX?
$10 for the MT4 Pro account, or $100 for the MT4 Zero account.
What is the maximum leverage at NordFX?
Up to 1:1000. This maximum doesn’t automatically reduce as trade size increases, but position size limits apply.
Is NordFX legit?
NordFX has operated since 2008 and holds offshore regulation through the FSC and FSA, with additional offshore registration in St Lucia. Many user reviews highlight quick, reliable withdrawals.
What is NordFX?
NordFX is a forex and CFD broker founded in 2008. It offers trading through MT4 and MT5 across markets like forex, cryptocurrencies, indices, stocks, and commodities such as gold and oil.
