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NBH Markets Review - is it scam or safe?

NBH Markets Review - is nbhm.eu scam or good forex broker?

RATING: 2.9 / 0 REVIEWS NBH Markets
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Trading Accounts and Conditions

 

Trading account Min. deposit   Min. trade size Max. leverage Spread
Standard  €1 000 0.01  1:30  from 0.6 pips + $8 /lot
Pro  €25 000  0.01  1:30  from 0.6 pips + $ 5 /lot
Elite  €50 000 0.01  1:30  from 2 pips + $ 2 /lot

 

NBH Markets is a Cypriot forex and CFD broker that offers trading in two award-winning platforms and 3 account types. Read our thorough analysis on NBH Markets’ offer and legal status.

 

 

NBH Markets Advantages

 

CySEC license

When we weighted the advantages of NBH Markets, the one that stands out is its solid regulation. The broker is owned by NBH Markets EU Limited (previously FIDELISCM (Cyprus) LTD.), a company authorized to provide financial services and investment advice by the Cyprus Securities and Exchange Commission (CySEC) since 2013. The company also operates the brokerage brand Fidelis Capital Markets (FCM forex).

 

Regulation in Cyprus is very popular among European CFD providers, as it seems relatively well-balanced. Brokers licensed by CySEC have to meet certain rules and requirements introduced both on local and on a EU level, which provides certain guarantees to their clients. For example, Cypriot brokers have to hold a minimum capital of at least €730 000, which should be maintained at all times, to keep client funds separately from the company’s operational assets, to regularly report executed transactions and many more. Moreover, they have to comply with ESMA’s rules on leverage, trading incentives, provision of negative balance protection, and more.



>> Find the best brokers in Cyprus <<

 

 

Both MT4 and MT5 offered

Another strong side of NBH Markets’ offer is the availability of both MetaQuotes’ platforms – the MetaTrader4 and the MetaTrader5. Those two share a lot of similarities, most of which are highly praised by traders: the advanced charting tools, the availability of Expert Advisors used for automated trading, the customization options, and more.

 

Besides, users of the MT5 can trade in OTC products and exchange-traded stocks from one and the same account

 

 

>> Check out more MT5 brokers <<

 

 

Announced spreads & commission fees not bad

Spreads and commissions with this broker, as marketed on its website, also seem good. Standard account holders are said to use spreads starting from 0.6 pips on majors, with a commission of $8. Of course, those willing to deposit more with NBH Markets, get to trade with lower commission.

 

 

NBH Markets Disadvantages

 

No free demo accounts?

We tried to register a demo account with NBH Markets, but did not get any MT4 trading credentials. Instead, we got access to some dashboard, where trading is not possible. It seems that one has to deposit some money before being able to test the broker’s platform.

 

 

Click to zoom in.

 

Signing up for a demo directly through the downloadable MT4 available on the broker’s website is also not possible.

 

High initial deposit required

In order to open the most basic account offered by NBH Markets, one has to deposit at least EUR 1000. That is a lot to ask for as a start, considering that most brokers require $100 - $250 as an initial investment, including most major CFD providers.

 

Leverage capped at 1:30?

NBH Markets offers leverage up to 1:30 to retail clients, in line with ESMA’s guidelines. This, of course, would be insufficient for more aggressive traders. As many other European brokers, this one also offers an alternative for those traders – they can apply to become professional clients, in order to get higher leverage levels and some other perks (click on the below image to view full size).

 

 

However, the eligibility criteria include an account balance of at least €500,000, and, what is worse, those clients will lose some of the main benefits of dealing with a broker regulated in Europe – the negative balance protection, and compensation coverage.

 

In other words, NBH Markets probably moves professional customers’ accounts to an intra-group third-country entity. ESMA has recently stated that it is aware that many brokers use this tactic as a way to get around the leverage restriction, and implied it is possible to introduce “other Union measures” it deems appropriate.

 

 

Conclusion

 

NBH Markets a CySEC-regulated forex and CFD broker offering a variety of trading instruments with several account types and a choice of MT5 and MT4 platforms. Its trading conditions are not bad, but we could not verify the spreads and commission fees are as announced. We suspect that the broker requires clients to deposit before being able to open a demo account, which pretty much defies its purpose. On the other hand, the initial investment NBH Markets requires, is quite high.

 

To sum up the above:

 

Pros Cons
Licensed in Cyprus (Europe) No demo accounts?
Both MT4 and MT5 offered High initial deposit required

Announced spreads & commission fees not bad

Leverage capped at 1:30?

 

Latest news about NBH Markets
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Traders` reviews for NBH Markets

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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