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NSBroker Review - is it scam or safe?

NSBroker Review - is nsbroker.com scam or good forex broker?

RATING: 2.8 / 1 REVIEWS ForexBrokerz NSBroker
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Trading Accounts and Conditions

 

Trading account  Min. deposit  Max. leverage Spread
Standard  N/A 1:100 N/A

 

NSBroker is a Maltese forex and CFD brokerage that offers its clients access to the MetaTrader5 platform, but hasn’t made clear the trading conditions on its website. It is also unclear whether it offers different account types.

 

Yet, NSBroker is authorized to provide financial services in the EU, which brings along significant advantages for its clients. For more details, read our thorough and unbiased review on

 

 

NSBroker Advantages

 

Licensed in Europe (Malta)

As the most important thing to look for in a forex broker is regulation, we are starting here. This broker is owned and operated by NSFX Limited, a firm authorized and regulated by the Malta Financial Service Authority (MFSA). It holds a Category 3 investment services license issued by the MFSA, which allows them to provide the investment services and to hold or control clients’ money or customers’ assets, as well as to operate a multilateral trading facility and deal for their own account.

 

NSFX Limited also operates the NSFX brokerage brand, operating via the official domain entered in the MSFA’s register (nsfx.com).

 

Like most other EU regulators, the MFSA has a number of requirements regarding company capital, staff competence and activities that have to be carried out by a forex brokers in Malta. Apart from the minimum capital requirement of €730,000, which should be met on an ongoing basis, license holders are expected to have local presence, to put in place adequate internal controls for their day-to-day operations, to maintain a risk management system, and regularly report to MFSA, among other requirements.

 

Access to the MT5, low demo spreads

As we mentioned in the beginning, NSBroker uses the latest MetaQuotes’ software, the MT5.

 

 

>> Check out the top-rated MT5 brokers <<

 

 

It is highly praised by the trading community for its ease of use and useful features: the top-notch charting, the support for automated trading via Expert Advisors, easy customization and more. Besides, the MT5 enables traders to execute trades on different financial markets (including exchange-traded stocks) through a single account, which is its main advantage over the MT4. 

 

 

Click on the image to view larger.

 

Besides, when we tested NSBroker’s MT5 in demo mode, we found the spread on EUR/USD floating around 0.4 – 0.6 pips, and no commission applied, which is very lucrative for traders.

 

 

>> Compare the spreads of the best brokers in real time <<

 

 

Solid leverage 1:100

Another thing that could be viewed as an advantage of this broker is the solid leverage levels it offers, up to 1:100. Of course, such ratios are only extended to professional clients in live trading environment, as per ESMA’s guidelines. As most of you probably know, leverage is capped throughout the EU for investor protection concerns.

 

 

NSBroker Disadvantages

 

Unpolished presentation of trading conditions

NSBroker has actually not shared with (potential) clients important details of its offer, such as the typical spreads, commission fees (if any), the minimum initial deposit required, and other important details.  Although one can sign up for a demo account, this does not leave a good impression, especially on the part of a regulated broker.

 

Domain not present in MFSA’s register

Another concern we have regarding this broker is that its domain is not present in MFSA’s register. There, we only found the website of the primary brand of the licensed company, NSFX. We suppose that they haven’t entered it yet, as it’s quite new, so this is not a major flaw.

 

 

 

 

Conclusion

 

Overall, NSBroker appears like a reliable and well-regulated forex broker, that offers attractive trading conditions on the industry leading MT5 platform. Yet, we are a bit concerned that the broker hasn’t shared any trading conditions on its website, apart from the maximum leverage levels provided.

 

Below, you may check out our list of recommended forex brokers that are licensed in one of the most popular forex hubs in Europe – Cyprus.

 

 

>> Looking for a broker regulated in Cyprus? <<

 

 

Finally, here are the highlights of our review of NSBroker:

 

Pros Cons
Licensed in Europe (Malta) Unpolished presentation of trading conditions
Access to the MT5 Domain not present in MFSA’s register
Low demo spreads  
Solid leverage raios  

 

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Traders` reviews for NSBroker

Spread

Pros

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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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