NSFX Review

NSFX Review

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 NSFX is a new arrival in the Forex broker lineup but has all the features for becoming a leading Forex and ECN broker. Its main office is located in Malta and it is regulated by the local Malta Financial Services Authority (MFSA) as well as by the European Markets in Financial Instruments Directive (MiFID).

NSFX is also one of the most user-friendly websites I have ever reviewed. All the major topics can be accessed from both the tabs at the top of the landing page as well as from the columns on the left hand side of all the pages.

In fact, the positioning of the specific topics is done in a way that focuses on educating the Forex trader, and the very first page offers an introductory discussion of Forex basics and Forex markets. This is unlike most other brokers that are more concerned with the opening of a new trading account and often hide instructional material in other side locations.

Accounts

There are three different accounts available at NSFX, Standard, VIP and ECN/STP, and they are presented side-by-side for easy comparison. All accounts accommodate scalping, hedging and EAs, and can also be swap-free if desired. The basic difference among the accounts is the amount of deposit required and whether the spread is fixed or variable. NSFX offers trading of 42 currency pairs, including 13 exotic pairs. The standard account requires a $300 minimum deposit and offers a choice between fixed and variable spreads. The minimum position and minimum lot size for this account is 0.01. Standard spreads for EUR/USD on a standard account are 3 pips. The ECN/STP account requires a minimum deposit of $3000 and has a minimum position of 0.1 and a maximum lot size of 100. Standard spreads on EUR/USD for an ECN account are 0.9.

NFSX uses the popular MetaTrader4 platform which can be accessed in desktop, iPhone and Android versions. In addition, it offers the proprietary NSTrader, which has a single point dashboard that integrates trading tools and information directly into the trading platform. This is a great tool as it allows traders to make their trade decisions and execute the trades immediately without having to flip from screen to screen.

NSFX offers a practice demo account and funds it with a generous $100,000 of virtual money. An Islamic Account is also available for traders who follow the Sharia laws and do not allow interest to accumulate overnight.

Features

NSFX offers a wide choice of investment assets as well as CFDs, a more speculative way of trading. As part of their CFD trading package, traders can choose to trade commodities such as gold, silver and oil, or indices such as NASDAQ, FTSE, or DAX. Although no actual physical shares trade hands with CFDs, online investors often purchase them to round out their investment portfolios.

Both technical and fundamental analysis is reported on a daily basis and real-time quotes on all instruments are continuously listed. In addition, their economic calendar is kept well up-to-date.

In keeping with their focus on education, the NSFX Academy offers a choice of instructional courses, videos, 1 on 1 training and webinars.

Customer support is offered with 24-hour Chat and personal tech support is accessible throughout the trading session during the entire week.

Navigation of the NSFX website is a pleasurable experience and I experienced no difficulties finding the information I needed.

Summary
Reviewer
Victor Polonsky
Review Date
Reviewed Item
NSFX
Author Rating
5