Sponsored By
de | cn | ru

NTFX Review - Is it scam or safe?

NTFX  Review - Is ntfxpro.com a good forex broker or a scam?

RATING: 3 / 0 REVIEWS NTFX
FIND BETTER FOREX BROKER

RECOMMENDED FOREX BROKERS


Trading Accounts

 

Account type Minimum deposit  Minimum trade size Maximum leverage Average spreads Trading platform
Classic $30 0.01 1:500 1.4 pips MT4

 

This broker a single account type for forex trading with variable spreads, leverage up to 1:500, no commission fees, and the chance to use micro lots. However, popular instruments such as CFDs on indices, commodities and stock, are not available with this broker.

 

Unlike most brokers, NTFX does not provide Managed accounts.

 

Please take notice that this broker does not accept clients from Australia, Belgium, Canada, Japan, the USA due to their countries’ legislation.

 

The Company. Security of Funds

 

NTFX is a relatively young brokerage, which provides forex trading services through the most widely used platform, the MetaTrader 4. The brand is operated by NTFX Capital Ltd. a company licensed by the Cyprus Securities and Exchange Comission (CySEC).

 

CySEC requires regulated brokerages to hold a minimum of €730 000 (in order to prove their financial stability), to keep client money separately from the company’s operational assets, as well as to report to the Commission on a regular basis.

 

In addition, the Cypriot financial watchdog applies a compensation scheme as additional guarantee to clients’ funds. All licensed brokers are members of the Investor Compensation Fund, where customers of authorized financial services firms may receive a compensation, amounting to a maximum of 20,000 EUR, if the broker becomes insolvent or ceases trading.

 

Furthermore, CySEC-regulated companies are authorized to provide its services across the EU under the MiFID regulations.

 

Trading Conditions

 

Minimum Initial Deposit

In order to open an account with NTFX, one has to deposit at least $30, which is a low minimum initial requirement. Yet other Cypriot brokers, such as FXTM, requires even less: $5.

 

Average Spreads & Commissions

This broker says on its website that its typical spreads amount to 1.4 pips on EUR/USD, which is average.

 

In comparison, FXTM offers average spread of 1.5 pips on EUR/USD on its commission free accounts, while its typical ECN spreads are 0.5 pips and involve a commission $4 per standard lot (round turn). For further information, you may look up and compare real-time spreads of 15 leading brokers here.

 

Maximum Leverage

The maximum leverage with this broker is considered high, reaching 1:500. Higher leverage levels may not only multiply traders` earnings on a small deposit, but also lead to losses exceeding initial investment. Nonetheless, if you are willing to take such risk, other Cyprus-based brokers offer even higher leverage ratios: XM – up to 1:888, FXTM and - up to 1:1000.

 

You may check out more forex brokers offering leverage equal to or exceeding 1:500 here.

 

Trading Platform

 

This broker supports the industry’s standard MetaTrader4 (Desktop and mobile versions available). The MT4 is preferred by the majority of traders, because it is user-friendly, supports automated strategies, offers extensive back-testing environment and a number if build-in technical analysis tools, as well as advanced charting package. Here is a list of more forex brokers offering MT4 platform.

 

Promotions

At the time of writing of this review, the broker conducts a demo account contest, called “Wheel of Fortune” with prize fund of $3000.
The contest is carried out together with several Russian forums.

 

Methods of Payment

 

NTFX offers its clients wide range of payment methods: bank wire transfer (USD, EUR, GBP, RUB), credit/debit cards (USD, EUR, GBP, RUB) and a number of e-wallets – Neteller (USD, EUR), WebMoney (USD, EUR, RUB), Qiwi (RUB), and Яндекс деньги (RUB).

 

The withdrawal process takes up to 1 business day, except for bank wire transfers, which may take up to 5 working days. Also, keep in mind that withdrawals are charged with extra fees.

 

Conclusion

 

NTFX is a well-regulated broker, whose offerings are limited to around 30 currency pairs on the MT4 platform. There is no choice of trading accounts (no managed ones either), and many popular financial instruments, such as index CFDs, are not available for trade. Here are, in a nutshell, the advantages and disadvantages with regards to this broker:

 

Pros    Cons
Well-regulated No CFDs on indices, stocks and commodities available
MT4 available No choice of trading platforms & account types
Low initial deposit required, high leverage levels provided No managed accounts

                                                             

Latest news about NTFX
No news about NTFX . Check back later.
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Belize CySec, FCA, IFSC MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, South Africa CySec, FSCA, FSC MT4, MT5, Web $5 Review Website
Cyprus CySEC MT4, Web $25 Review Website

Traders` reviews for NTFX

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

de | cn | ru