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Noor Capital Review - is it scam or safe?

Noor Capital review - Is noorcapital.ae scam or good forex broker?

RATING: 2.9 / 1 REVIEWS ForexBrokerz Noor Capital
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Noor Capital is a financial company based in Abu Dhabi, the United Arab Emirates, which offers a variety of services from asset management, financial advisory and funds administration to online forex and CFD trading.

 

Account type Min. deposit Max. leverage Spreads
Standard Account n/a 1:400 n/a
Premium Account n/a 1:400 n/a
VIP Account n/a 1:400 n/a
Institutional Account n/a 1:400 n/a

Multi-Model Investment Account

n/a 1:400 n/a

 

Naturally we will focus on their brokerage business. They offer numerous forex pairs and CFDs on  precious metals, soft commodities, energies, and indices with five account types, leverage as high as 1:500 and the MetaTrader4 platform. And they are regulated in the United Arab Emirates. Here are some details:

 

Noor Capital Advantages:

  

Licensed in UAE

 

Noor Capital is owned and operated by Noor Capital PSC – a private joint stock company incorporated under the law of UAE with registered office in Abu Dhabi. The company is registered with the Department of Economic Development of Abu Dhabi and is authorized and regulated by the Central Bank of the United Arab Emirates to conduct banking, financial investment and consultancy as well as financial and monetary intermediary business. You may see their name in the register of the Central Bank here:

 

 

So basically this is a reputable company and your money will be safe with them.

 

The financial authorities in the United Arab Emirates have relatively strict regulatory requirements. For example all forex and CFD brokers in the country should hold at least one million dirhams (about 275 000 USD), of which at least 60% have to be in local funds.

 

In comparison brokers regulated in the European Union should maintain an operational capital of no less than 730 000 EUR, to file regular reports, to allow external audits, to keep all clients funds in a segregated, protected form creditors, trust account, and to participate in client compensation schemes.

 

For example with a broker regulated by the Financial Conduct Authority (FCA) in the UK your funds will be covered by an insurance of up to 85 000 GBP, so here you may also check our list of brokers regulated in the UK:

 

>>FCA Regulated Forex Brokers<<

 

Another distinction is that all brokers in Europe are restricted to offer leverage no higher than 1:30 to retail clients, while with UAE brokers there is not such restriction.

  

Leverage as high as 1:500

 

Leverage as high as 1:500 – which we were offered when we opened our demo account is currently available only with offshore brokers regulated on markets like the United Arab Emirates, South Africa and New Zealand. On most other major markets including the European Union, the U.S., Canada, Japan and now even Australia, the financial regulators have imposed strict leverage restrictions, in a coordinated effort to reduce the investment risks.

  

Comprehensive selection of trading instruments

 

When we tested the Noor Capital trading platform with a demo account we counted 46 currency pairs, lots of which exotic or minor like USDMXN, USDZAR, USDTRY, USDSGD, USDSEK, USDPLN, USDNOK, USDHUF, USDDKK and USDCZK. And also, there we found plenty of CFDs on precious metals like silver, gold, platinum and palladium, as well as oil, natural gas, 9 indices, various stocks and even several crypto coins, including Bitcoin, Ethereum, Litecoin and Ripple. Still, here you may also check our list of brokers trading with bitcoin CFDs as well:

 

 >>Bitcoin Forex Brokers<<

 

MetaTrader4 supported

 

This is by far one of the best trading platforms available on the market. MT4 is a highly reliable, multi functional trading solution, featuring numerous market indicators and even trading robots with the help of which one can easily run automated trading sessions. And besides, as MT4 features an excellent set of advanced charting tools as well, here you may check our list of brokers, supporting the platform:

 

 >>MT4 Brokers<<

 

Noor Capital Disadvantages:

 

No information about the minimum deposit requirement

 

Just bear in mind that with most brokers you will be able to start trading with about 250 USD or so, while some big and well established companies like FBS and IG will let you open a demo account wit just 5 USD or even less.

 

No information about the payment methods accepted

 

Unfortunately Noor Capital does not elaborate on the payment methods they accept. Usual payment methods include credit cand debit cards like VISA and MasterCard, bank wire and various e-wallets including NetellerSkrill and PayPal. And some brokers even accept crypto currency payments so here you may take a look at our list of brokers, where you can pay with bitcoins:

 

 >>Forex Brokers Accepting Bitcoin<<

 

High spreads

 

As tested with a demo account the benchmark EURUSD spread floated about 2 pips – 2,1 pips and that is a bit saltier for our taste. Bear in mind that spreads are usually considered attractive only when they start below 1,5 pips with a standard account and no trading commissions. Besides, here you can always check our list of brokers offering tighter spreads:

 

>> Lowest spread forex brokers<< 

 

Conclusion:

 

With its UAE license Noor Capital can be a reliable partner. It offers a nice selection of trading instruments with a multi functional trading platform and leverage as high as 1:500. Still, we are not sure what their minimum deposit requirement is, we are not sure about the payment methods they accept and their spreads, at least with a standard demo account were somewhat higher than what we are used to.

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Traders` reviews for Noor Capital

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