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NPBFX Review – is it scam or safe?

NPBFX Review  – Is www.npbfx.com scam or good forex broker?

RATING: 2 / 0 REVIEWS NPBFX
NPBFX is an offshore broker. Your money is not safe.

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 Trading accounts and conditions

 

Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
Master $10 0.01 lot 1:200 1.2 pips
Expert $5000 1 lot 1:100 1 pips
VIP $50 000 1 lot 1:100 0.8 pips 

 

NPBFX has three types of real trading accounts, with a deposit starting from $10 for the Master account, plus a free demo account for testing purposes. The broker offers trading in 38 forex pairs, as well as in gold, silver and oil.

 

The Company. Security of Funds

 

Company Country Regulation
Nefteprombank Belize IFSC

 

NPBFX is the forex brokerage brand of the Russian commercial bank Nefteprombank (Нефтепромбанк). The bank itself is licensed by Russia's Central bank, while the brokerage is regulated by Belize's International Financial Services Commission (IFSC). It also holds a license from the self-regulatory organization Financial Commission (FinaCom) and is a member of a compensation scheme covering up to $20 000 of client funds. NPBFX, however, does not have a forex broker license from the Bank of Russia.

 

The broker is mainly targeting Russian-speaking clients, but its website also has versions in Vietnamese, Malay and Indonesian.

 

 

Trading platform

 

NPBFX offers its clients three trading platforms: MetaTrader 4 (MT4) as an application for desktop, web and mobile devices, the social/copy trading platform ZuluTrade and the automated trading platform Myfxbook AutoTrade.

 

MT4 is the most popular trading platform offered by most forex brokers across the world. It has multiple functions and tools and is fairly easy to use.

 

ZuluTrade is one of the oldest social and copy trading platforms with thousands of signal providers and traders.


 

AutoTrade was launched in the beginning of 2013 by MyFxBook, a UK-based provider of forex analytical tools and trading community portal. It is a platform, specialized in copy trading, also called auto/mirror trading, as well as copying signals.

 

 

As an automated social trade copying service, MyFxBook’s AutoTrade enables traders to track, compare, analyze and share their trading strategies. Unlike other auto trading platforms like eToro and Ayondo, Myfxbook doesn’t act as a broker itself and traders need to register with one of their partner brokers in order to use the platform.

 

 

Methods of payment

 

NPBFX accepts client deposits through bank transfers and debit and credit cards. Also available are the online electronic payment systems Skrill, Neteller, FasaPay, WebMoney, Qiwi Wallet and Yandex Money.

 

 

Conclusion

 

Despite being regulated in an offshore zone, it seems NPBFX is a fairly stable and reputable broker that has been on the market for quite a while. Its trading conditions are not bad either and it does not charge commission. The broker also allows scalping, which could be a major draw for some traders and has several trading platforms.

 

Pros Cons
Low deposit Offshore
Several trading platforms Low leverage

 

 

Latest news about NPBFX
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Traders` reviews for NPBFX

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