FXLORDS Increase Your Profits
Who are they?
Just over two years old, NSFX have made a big impact on the Forex market with their innovative approach to Forex trading and customer service. Founded by a group of professionals from the Forex world and set up in Malta, they currently serve the English, French, German, Italian and Arabic markets but intend to be global ultimately. Through the use of cutting edge and constantly reviewed and updated software and technology, they promise innovative trading tools and platforms and excellent trading conditions.
They offer a wide range of instruments including Forex, indices, CFDs, gold, silver, oil and commodities.
Established in Malta, they are regulated by the Maltese FSA and they also fall under the Market in Financial Instruments Directive (MiFID) in Europe, which is intended to provide harmonized regulation for investment services across the 31 member states of the European Economic Area.
Through their platforms, clients can trade over 50 pairs of currencies including the majors and a number of crosses.
They offer a wide range of instruments including Forex, indices, CFDs, gold, silver, oil and commodities.
Established in Malta, they are regulated by the Maltese FSA and they also fall under the Market in Financial Instruments Directive (MiFID) in Europe, which is intended to provide harmonized regulation for investment services across the 31 member states of the European Economic Area.
Through their platforms, clients can trade over 50 pairs of currencies including the majors and a number of crosses.
Review Overview
Compliance to Different Authoroties
Speed and Ease of Procedures
Platform Execution
Technology and Facilities
Customer Support and Offers
Acceptable!
They are ok, although experience is needed in this business
How do they help me learn?
NSFX offer a very comprehensive ‘Academy’ for new traders giving access to the following:
- Training Videos – Some are available to all visitors to their website, others you have to register for but the videos are very good. They cover a range of topics under the headings of Advanced Trading Tools and MetaTrader.
- Webinars – Whilst no details of upcoming webinars appear on their website, NSFX promise a series of webinars hosted by experts in specific fields. They are available online to anyone who undertakes the free registration process.
- Demo Account – As with all brokers, NSFX offer you the chance to practise and hone your skills on a demo account before ‘going live’.
- Forex Articles – For the beginner or those who prefer their information in paper format, there’s a comprehensive set of Forex articles covering all the main aspects you’ll need to know including a detailed glossary.
- Intra Day Reports and News – NSFX offers a weekly market round up but their website also includes intra day updates and technical and fundamental analysis comments when appropriate.
- 1-on-1 Training – This is again available to those who register and you can choose to talk to an expert on a range of pre-defined topics or in consultation with them, you can design a program to suit your needs.
- Forex Course – NSFX have developed their own step by step online Forex training course which is partly in video format, partly written. You can learn at your own pace and get a taster from the website of what it offers before undertaking the free registration process.
- eBook – Finally, NSFX offer a free copy of their eBook covering major articles on financial instrument trading and fundamental analysis.
How is the clients support service in general?
Client support is offered in a number of ways; from department specific emails, live chat or the 1-on-1 service which, as well as training the broker, is also there to answer queries from the individual.
There are country specific telephone numbers for each of their trading markets offering assistance in English, French, German, Italian, Spanish and Arabic. Finally there’s a ‘quick’ website email form for short queries. The company says help is available 24/7.
There are country specific telephone numbers for each of their trading markets offering assistance in English, French, German, Italian, Spanish and Arabic. Finally there’s a ‘quick’ website email form for short queries. The company says help is available 24/7.
What does the industry say?
NSFX don’t boast of any industry awards which is surprising given their set up and the positive reviews they have received from their clients. Praise is especially apparent for their platform and for their customer service. Lack of awards is probably down to their recent arrival on the trading scene but if they maintain their current standards, they should fill their awards cabinet sometime soon.
How safe is my money?
NSFX is regulated in Malta by the Malta Financial Services Authority and as such they come under the banner of EU regulation. They’re also governed by MiFID. Clients funds are kept separate from the company’s and they have liquidity arrangements with major international banks.
What platforms does NSFX offer?
You can choose from two systems; MetaTrader4 and all its derivatives for desktop or mobile. ECN trading is available on these. The company also offer their own platform based on MT4 which they have built upon to promise that all the tools traders need are no more than a click away, simplifying and speeding up the trading process. Trader comments suggest that NSFX may have hit upon the future of trading platforms with their NSTrader set up.
What about their trading conditions?
Leverage is up to 1:200 on MT4, 1:100 on ECN and negotiable on the VIP set up. Margin requirements are therefore 0.5% or 1%. NSFX operate margin calls of 20% of the used margin and when the trade reaches that point they will liquidate a position. Unlike many brokers, NSFX promise to do all they can to contact the trader about the impending liquidation to inform them of the position.
Islamic Sharia compliant accounts are offered by NSFX through their Bahrain operation. Swap is dealt with via an adjustment to entry price meaning no addition of interest.
Both platforms have an ECN option whilst signing up to the VIP account gets you access to a monthly trade analysis.
Requotes can happen on non-ECN trading but NSFX says their occurrence is minimized by the speed and capability of their systems. There have been no reports from traders on slippage.
Islamic Sharia compliant accounts are offered by NSFX through their Bahrain operation. Swap is dealt with via an adjustment to entry price meaning no addition of interest.
Both platforms have an ECN option whilst signing up to the VIP account gets you access to a monthly trade analysis.
Requotes can happen on non-ECN trading but NSFX says their occurrence is minimized by the speed and capability of their systems. There have been no reports from traders on slippage.
How much will it cost me?
NSFX operate fixed spreads on MT4 platforms, variable on ECN trading and fixed or variable spreads in the VIP account.
The minimum deposit is $300 on the MT4 platform $3,000 on ECN and $10,000 on VIP. Placing of the minimum deposit gives you free access to all their training and trading tools.
NSFX can accept funds from wire transfers, credit cards and electronic wallets. Wires take 2 – 3 days to credit whilst other all other funding arrangements are classed as instant. Withdrawal requests are made via the trader’s dashboard and are processed the same working day.
The minimum deposit is $300 on the MT4 platform $3,000 on ECN and $10,000 on VIP. Placing of the minimum deposit gives you free access to all their training and trading tools.
NSFX can accept funds from wire transfers, credit cards and electronic wallets. Wires take 2 – 3 days to credit whilst other all other funding arrangements are classed as instant. Withdrawal requests are made via the trader’s dashboard and are processed the same working day.
Any special deals?
NSFX don’t offer promotions or special deals at the moment. The indication is that the quality of their offering is enough to attract Forex traders.
The bottom line
Many new Forex brokers promise innovative techniques, high quality customer service and etc., but few manage to deliver it. NSFX seem to have developed a set up that is trader friendly with low costs and stick to their promises on customer service. Whilst still relatively new, the company is already raising a few eyebrows over the way it’s successfully challenging established broking firms.
Whilst still small scale in terms of the geographical markets they cover, the company will no doubt expand and become a major player in Forex, commodity, metals and instrument trading.
Whilst still small scale in terms of the geographical markets they cover, the company will no doubt expand and become a major player in Forex, commodity, metals and instrument trading.
