NSFX is an online broker that is based in Malta, a country that is known for having a stable banking system. Founded in 2012, they are regulated by the Malta Financial Services Authority and other trusted financial authorities. What’s notable about this brokerage is that they have a Category 3 investment services license from the MFSA which guarantees that they are always in full compliance with the EU norms. Continue reading this review to know if they are a good choice for trading currencies and other financial instruments.
Demo Account: No restrictions
The free demo account comes with a $100,000 fund that can be virtually used without any time limit. Since it has the same features of the live account, it’s the perfect venue to practice without any risks.
Bonuses: Additional trading funds
Although the 10% first deposit bonus is a bit lower than what other brokers can offer, NSFX makes it up by offering value-added perks for different account types including high leverages, fixed and variable spreads, free daily analysis and even a personal account manager.
Platform: Fast and secure
Aside from the dynamic and user-friendly MetaTrader4 platform that is known to have a powerful range of features and tools, they also offer the NSFX Pro which includes an auto and chart trading system and has been designed for traders of all types. Another option is the NSTrader multi-platform system which features fast execution of positions and customizable modules. All of these platforms can be accessed on a desktop, on a mobile device and even via their web-based system.
Mobile Trading: Straightforward and comfortable
I surely won’t miss out any trading opportunities since I can conveniently view, review and place trades via their well-optimized proprietary mobile platforms that are widely compatible with many iOS and Android devices.
Minimum Lot Size: Low risk rate
I’m the type of person who wants to trade using a smaller lot scale which is why I highly appreciate that I can set the minimum to 0.01 with this broker. This definitely lowers the risks and the possible losses that I might incur in case I make the wrong trading decisions.
Maximum Leverage: A conventional ratio
They offer a maximum leverage ratio of 1:200 which for me is enough to multiply my trades and potential profits as well. A higher leverage would have been better but this would mean that the risks could go high as well.
Spreads: Fixed and variable
Spreads are fixed for Standard MT4 accounts while Professional ECN accounts on the other hand are variable. For the EUR/USD pair, the lowest that they can offer is 0.1 pips which is an advantage since a lower spread translates to better profits.
Tradable Instruments: More than 50 choices
There are over 50 instruments to choose from and this includes currency pairs, CFDs, indices, gold and crude oil. And since all of these can be traded regardless of the account type, I have the ability to develop more effective strategies in the long run.
Deposit and Withdrawal
Minimum Deposit: A bit on the high side
The minimum deposit requirement is $300 which for me is a little higher than the industry standard. This however is not a non-issue for serious traders since subsequent deposits are highly possible in the future.
Deposit Methods: Convenient options
It’s very easy to deposit funds into the account because this broker supports a number of payment methods. This includes Wire, MasterCard, Maestro, Visa, American Express, Skrill and Fast Bank Transfer.
Withdrawal Methods: No transaction fees
It’s good to know that they do not charge any fees on withdrawals and they also accept the same methods for cashing out the funds.
Withdrawal Processing Time: Only 24 hours to wait
Their website states that withdrawals are processed in just 1 business day. At first I thought that this is impossible but I was proven wrong upon seeing my withdrawal request to be finished in a matter of 24 hours. I only had to wait for a few more days in order to see the money back on my selected banking method.
Channels: All modes of communication
It’s so easy to contact the customer support department because I can call them over via the phone or reach them electronically via email or live chat.
Availability: All day and night
I have the liberty to get in touch with them any time since they are available 24/7.
Supported Languages: 5 options
Currently the only languages that they support are English, German, Italian, Turkish and Arabic.
Average User Rating: 9.0
This score was provided by various users and its value is taken from the accumulated votes that were given by actual traders who have tested this broker.
Platform Design: Sophisticated and trendy
What I really like about the interface is that it has been well-optimized for fast trade execution. It looks very sophisticated yet it has never sacrificed the responsiveness and speed of the platform which is a great advantage especially when the markets are highly volatile.
Support: Very fast handling time
If there’s one thing that I can say about their support team is that they handle most client issues in just a matter of minutes. They easily provide answers and solutions to most queries and problems. They know very well how to practice speed and accuracy.
Reputation: Accredited by the MFSA
NSFX is an EU approved and regulated broker through the Malta Financial Services Authority. They are also licensed with other regulatory bodies such as the Financial Services Authority in the UK, the Bundesanstalt für Finanzdienstleistungsaufsicht in Germany, the Autorité de Contrôle Prudentiel in France, the Commissione Nazionale per le Società e la Borsa in Italy, the Comisión Nacional del Mercado de Valores in Spain and the Danish FSA in Denmark. Such recognition from various regulators unquestionably ascertains that they are a well-respected name in this industry.
Editor’s Rating: 87
NSFX features a range of critical tools that enables their clients to get the most out of the global forex market. Thanks to their innovative platforms, their clients are exposed to a more profitable trading environment. Their strong and corporate regulatory framework guarantees that their integrity is compliant with the highest European standards.