Slippage is the difference between the price at which the order has been placed and the price at which it has been executed by the broker. The less slippage you get, the better your trading results will be.
Kama-spot is a forex trading strategy, based on technical analysis. It trades mainly EUR/USD, GBP/USD and USD/CHF
Average profit: 14.0 pips
Average trade lifespan: 19 hours
Most traded pairs: EUR/USD, GBP/USD and USD/CHF
Average profit: 16.0 pips
Average trade lifespan: 1 day
Average profit: 9.0 pips
Average trade lifespan: 5 hours
Average pips/trade: 5.0
Average trade lifespan: 18 hours
Average pips/trade: 12.0
Average trade lifespan: 15 hours
Average profit: 28.0 pips
Average trade lifespan: 3 days
Average profit: 22.0 pips
Average trade lifespan: 13 hours
Average pips/trade: 9.0 pips
Average trade lifespan: 1 day
Average profit: 9.0 pips
Average trade lifespan: 11 hours
Average profit: 10.0 pips
|Account type||Minimum deposit||Minimum trade size||Maximum leverage||Average Spreads||Trading Platforms|
|1:1000||$5||0.01||1:1000||Fixed, 3 pips||MT4|
|Micro||$5||0.01||1:500||Fixed, 2 pips||MT4|
|Standard||$50||0.1||1:200||Variable, 1,6 pips||MT4/MT5|
|Premium||$50 000||0.1||1:100||Variable spreads from 0.2 pips||MT4/MT5|
|MT ECN||$1000||0.1||1:100||From 0 pips + $3.5 - $5/lot||MT4|
In order to suit the needs of traders of all preferences and levels of experience, NordFX offers its clients a variety of account types to choose from on two trading platforms.
What is more, swap-free (Islamic) accounts are available, tailored at clients who are not willing to earn interest for religious reasons.
The Cyprus unit of NordFX offers a single account type with no commissions and no minimum deposit. Swap-free service is not available. It involves variable spreads, averaged 1.5 pips on EUR/USD on MT4, leverage up to 1:500, and STP/DMA execution.
Established in 2008, NordFX is an award-winning global forex broker, offering trading in nearly 40 currency pairs and precious metals (silver and gold), as well as binary options. There are several companies behind the brand: NFX CAPITAL MU INC. - a company based in Mauritius,NFX CAPITAL VU INC, a company registered in Vanuatu, and NFX CAPITAL CY LTD, which is regulated by CySEC in Cyprus.
NFX CAPITAL MU INC., operating under the brand NordFX, holds an investment license issued by the Mauritius Financial Services Commission (FSC), under which the Company is authorized to provide advice on securities transactions to clients through any means and to manage securities portfolios of clients.
Although Mauritius is an offshore zone, FSC-regulated brokers must satisfy a number of prerequisites such as capital adequacy to demonstrate financial standing. Minimum capital requirement is MUR 1 000 000 (around EUR 25 000), which may not be compared to the one set by FCA for instance (730 000 EUR), however in most offshore zones there isn’t any prerequisite for forex brokers’ net tangible assets.
What is more, regulated companies are obliged to keep client funds in segregated accounts, separated from the company’s operating funds.
As regards the Cyoriot subsidiary, it holds a license from the Cyprus Securities and Exchange Commission (CySEC).
The Cypriot financial watchdog applies certain rules and requirements to license holders. For instance, client funds must be held in segregated accounts. Besides, the Commission requires forex brokers to hold at least €1,000,000 in order to prove their financial stability.
As a further guarantee to clients’ funds, all CySEC-regulated companies are members of the Investor Compensation Fund, which is able to pay compensation to its covered clients, amounting to a maximum of 20,000 EUR. Similar compensation schemes apply in other jurisdictions.
Additionally, as a CySEC-licensed broker, NordFX CY is also regulated under the Markets in Financial Instruments Directive (MiFID) in regards to offering cross border services within the EU under the MiFID Passporting Regime, allowing companies regulated in their "home state" to provide services to customers in other EU Member States.
Minimum Initial Deposit
NordFX has set a symbolically low minimum initial deposit requirement of $5 (for Micro and 1:1000 accounts). This makes it attractive for risk averse or inexperienced traders who are not willing to invest a large amount of money.
Most brokers require a certain minimum initial deposit. For instance, Cyprus-based Easy-forex demands $25, and Belize-based ForexBrokerInc, requires $100 from its clients as a minimum.
Spreads & Commissions
This broker offers both fixed and variable spreads, which vary by account type. Fixed spreads on the Micro account are 2 pips on EUR/USD. The average spreads for the commission-free Standard account amount to 1.6 pips on EUR/USD, which is considered comparatively high, while the MT ECN account offers average spreads as low as 0.0 pips on EUR/USD, however It also involves a commission ranging from $3,5 to $5 per lot, depending on the volume traded. So basically, the average spreads offered by NordFX on the ECN account are comparatively low, being around 1 pip, commission included.
In comparison, ForexBrokerInc offers variable spreads from 1 pips on its commission-free accounts, and Marshall Islands-based LiteForex provides fixed spreads, amounting to 2 pips on EUR/USD and variable ones are 1.1 pips on EUR/USD for the ECN account.
As regards NordFX CY, it offers variable spreads, averaged 1.5 pips on EUR/USD for its general commission-free account type, which is an average spread value. In comparison, XM offers spreads as low as 1 pips for its commission-free accounts.
You may look up real-time spreads of 15 leading brokers here.
The maximum leverage level offered by NordFX is 1:1000 and the one provided by NordFX CY is up to 1:500, both ratios being comparatively high for the forex market. Still, many other brokers provide similar leverage levels, since there are no restrictions set: SVG-based OctaFX and ForexBrokerInc both offer leverage up to 1:500, and many Cyprus-based brokers offer high leverage levels around 1:1000 (FXTM).
More brokers offering leverage equal to or exceeding 1:500 can be viewed here.
We advise you to exercise caution when trading on margin, as higher leverage involves higher risk of heavy losses, which may even exceed traders’ initial investments.
NordFX offers a choice of two basic trading platforms: the renown MetaTrader 4 (MT4) and MetaTrader 5, while NordFX CY supports only MT4. Binaries are traded through the SpotOption platform.
MT4 offers all a trader needs: a number of technical indicators, extensive back- testing environment, advanced charting package and a wide range of Expert Advisors (EAs). Traders can download ready-made or create their own automated trading strategies and simply let the program do all the work. It comes in desktop and mobile versions.
What is more, MetaTrader 4 MultiTerminal is available, an ideal choice for investors and managers, for traders who work with several accounts at the same time.
You may look up more brokers using the MT4 here.
The MT5 was developed and marketed as an improvement on MT4, yet many brokers still prefer the earlier technology, since MT5 does not allow hedging, and besides, MT4’s indicators and EAs are not supported on the MT5 platform.
You may look up more brokers supporting the MT5 here.
Besides, Virtual Hosting (VPS) is available. NordFX offers Fozzy Forex virtual server for 9.95 EUR/13.95 USD monthly.
Another extra service provided by this broker is Signals trading from MQL5.
Bonuses & Promotions
This broker offers different promotions quite often. Currently NordFX provides withdrawable on-deposit bonus of 100% (up to $ 5000) to its clients. Each customer is entitled to get the bonus only once and for one account.
NordFX does not offer its clients many options to make deposits to and withdrawals from their accounts. The following payment methods are available: bank wire transfer and e-wallet systems, such as Skrill, Payza, OKPAY, FasaPay and Webmoney.
The Cyprus unit uses Credit / Debit Card, Bank Transfer, Neteller and Skrill.
NordFX group is a recognizable brand on the forex market with many awards over the years. To sum up the above, here are the advantages and drawbacks with regards to this broker:
|CySEC-regulated subsidiary||Offshore broker|
|Choice of trading platforms, MT4 available|
|High leverage available|
|ECN environment available|
FXTM is a EU regulated forex broker, offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $1 and take advantage of tight fixed and variable spreads, 1:1000 leverage and swap-free accounts.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
Grand Capital is a MT4 forex broker, offering $500 no deposit bonus and 40% bonus on all deposits.
Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
|Cyprus||CySec||MT4, MT5, Web||$5||Review Website|
|US, UK, Australia||CFTC/NFA, FCA, ASIC||MT4, Web,
|UK, Australia, Singapore||FCA||MT4, Web,
|UK, Cyprus||FCA, CySec||MT4||$5||Review Website|
|UK, Cyprus||FCA, CySEC||MT4, MT5, Web,
|UK, Bulgaria||FCA, FSC||Web||$150||Review Website|
|Belize||IFSC||MT4, MT5||$100||Review Website|
|Cyprus||CySEC||MT4, MT5||$300||Review Website|
|New Zealand||FMA||MT4||$1000||Review Website|
|Belize||IFSC||MT4, Web||$500||Review Website|