NordFX: A Holistic Trading Platform For Traders

July 25, 2020
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NordFX is a global forex and cryptocurrency trading application. The app is regulated by Cyprus’s Securities and Exchange Commission (CySEC) and Vanatu’s Exchange authority. The broker started in 2008 and currently has 1.2 million customers across 100 countries. With a demo account and a minimum deposit of $10 and a minimum trade of $1, individuals can easily get started on trading with NordFX. The app offers 33 currency pairs and 11 crypto pairs and very low spreads starting from 0.0. The interface is also intuitive and easy to use and is a solid choice for individuals looking to get started in Forex and crypto trading.

If you are looking for a holistic platform that offers a wide array of assets then you should consider as it offers a diverse range of stocks, ETFs, bonds, crypto, commodities and CFDs. With one of the best and affordable fee structure, promises to be a good platform for your trading needs.

We analyzed hundreds of data points relevant to the costs, benefits and features of trading with NordFX and scored our findings on a 10-point scale across 10 distinct categories.
Fees 7
Signup Process 10
Minimum Deposit 10
Ease of Use 8
Deposit & Withdrawal Options 10
Customer Support 10
Asset Classes 5
Referral Program 2
Demo Account & Educational Resources 8
Safety & Regulation 8
Total 78


NordFX is a global forex and cryptocurrency trading application that is headquartered in Vanuatu. The broker started in 2008 and currently has 1.2 million customers across 100 countries. NordFx has been gaining a lot of popularity in recent times for its friendly interface and low operating fees as a trading platform. With its low-cost structure and friendly interface geared towards helping individuals, it is a good platform for trading forex and crypto. Keep reading this review to see how it ranks in terms of overall usability and how it compares to the industry benchmark of which is revered by individual investors and institutional investors alike.

NordFX Pros & Cons

NordFx has a few pros and cons like any application. Let’s have a look at those so you can decipher if the app is right for you.


  • Low non-trading fees
  • Low fees for trading forex and crypto
  • Free membership
  • 10% referral bonus
  • Good demo account


  • Fees for withdrawing funds
  • Lack of research tools
  • Lack of visualization for statistics

Now that you have had a summary, let’s dissect the features of the app one by one to see its strengths and weaknesses.

NordFX Account Types

NordFX offers three types of accounts, namely, Fixed Account, Pro Account, or Zero Account.

The maximum leverage is the same for all three accounts and is 1:1,000. Initial deposits vary along with spreads, with pips ranging from 0.9 to 2.

Some accounts (such as the Zero Account) offer commission-free trading, whereas others may charge slightly higher fees and market execution rates.

Account TypeCredit LeverageQuote Precision
Fix AccountUp to 1:1,0004 Digits
Pro AccountUp to 1:1,0005 Digits
Zero AccountUp to 1:1,0005 Digits

The Fix Account is a good account to get started for beginners. You can get started with $10 and learn how to trade. The quote precision is good for all accounts meaning that the quotes are likely to stay within the 4 or 5 digit level of precision. A positive option that users have is that, since the app is not regulated by the FCA, it has high leverage levels available for users. We recommend the Zero Account for professional forex traders as there is no spread for trading with Zero Accounts.

A Word Of Caution

Leverage means that you borrow funds to trade. This helps in increasing the money you put on a trade. Hence, when you are right and prices rise you earn a lot but when you lose, your losses are magnified as well. For instance, if you trade a $100 with a 1:10 leverage the total amount invested is $1,000. If you earn 10% on the trade you earn $100 (doubling your investment) but if you lose 10% of the trade you lose the entire $100 you put in. The worst part is that you can end up in negative numbers if the losses are of more than 10%.

Here’s a breakdown of our 10 scoring categories, each scored out of 10 for a total of 100 points.

#1 NordFX Fees

Fees associated with using a trading application can significantly enhance or decrease your earnings. Let’s have a look at the different kinds of fees associated with the NordFX account and how you can benefit from it.

Membership Fees

There are no membership fees associated with your NordFX account which augers well for users. This is because membership fees often coupled with trading fees and commissions will often result in eroding profits, especially for beginners.

Deposit & Withdrawal Fees

There are no deposit fees associated with your NordFX account. This augers well because often deposit fees can add up with trading and commission fees to make trading less profitable. However, the withdrawal of funds can be expensive because of the complex withdrawal fee structure. Let’s try and simplify this with a table.

Withdrawal MethodTransaction AmountFees
Visa or MastercardUp to 200 EUR or USD20 EUR / 20 USD for every transaction
 Between 200 – 1,000 EUR or USD30 EUR / 30 USD for every transaction
 Greater than 1,000 EUR or USD3% per transaction
Union Pay$0 < $20,000 USD$12
 $20,001 USD< %50,000$18
 $50,000 USD +$30
Neteller or SkrillAny5% per transaction amount

As you can probably see, there are plenty of fees associated with the withdrawal of funds. Online payment wallets like Neteller or Skrill are a definite “no-no” but using Union Pay and Visa or Mastercard can be useful for large amounts but not for small amounts. For clarity purposes, most of my analysis will center around the features of the Fix Account and the Pro Account because these are the accounts intended for individual investors and zero accounts are likely to be used by big investors or institutions.

Trading Costs And Commissions

Account TypeSpreadCommission
Fix AccountFrom 2 PipsNo Commission
Pro AccountFrom 0.9 PipsNo Commission
Zero Account00.0035% per trade

The spreads for the Fix Account are slightly expensive especially keeping in mind that there are brokers like FXTM that offer spreads that start from 0.1 pips in the basic account type for major currency pairs.

The high fees for withdrawals with methods apart from Union Pay, coupled with the high spreads for the Fix Account do not auger well for users. However, no deposit fees and commissions help NordFX’s score for fees to be a respectable 7 out of 10.

NordFX Fees Score: 7/10

#2 Sign Up Process

The sign-up procedure for NordFX is pretty simple and self-explanatory. You can open your account instantaneously. The procedure will help you in quickly getting signed up and start trading. Let’s look at the process one step at a time:

Step 1: Fill Out The Registration Form

You just need to give basic details like your email address and password to get started.

Pro-Tip: After opening your account, NordFX will give you a PIN. You should store the Pin Account in a safe and private place.

Spet 2: Look Out For The Notification

You will be notified through email of the opening of your account. You should verify it as soon as you get the email, so keep an eye out for it.

Once you verify your account, you’re set and you can get to trading.

The simple sign up procedure and instantaneous opening of your account means the app scores a perfect 10 out of 10 in this dimension.

NordFX Signup Process Score: 10/10

#3 Minimum Initial Deposit

The minimum initial deposit depends on the type of account, as we mentioned earlier.

Account TypeMinimum Deposit
Fix Account$10
Pro Account$250
Zero Account$500

As you can see, the minimum deposit to get started with trading in NordFX is $10. This is a good feature because it lowers the barrier to entry for new users and individuals looking to get started with trading. Keeping in mind the deposit fees of other brokers as well, XTB scores 10/10 in our scoring system.

NordFX Minimum Initial Deposit Score: 10/10

#4 Ease Of Use For NordFX

The NordFX platform is available on the web, desktop, android and apple devices. The app has decent reviews and ratings on all platforms with respect to usability.

NordFX’s interface is really good. It has great visualization along with text values of the asset displayed on the left-hand side of the screen. However, the visualization could have had some more advantages like deviations being displayed on the screen like in The trends are also displayed here in the graphs, so you can see how an asset is performing over time.

NordFx app

Analysis Tools In NordFX

NordFX has interesting research tools that can help you in trading better to maximize your wealth. Research tools are available in most apps, however, these are slightly different. Let’s have a look at some of the research tools NordFX offers.

NordFX’s Trading Calculator

 This feature of NordFX allows you to input the details of potential trades to calculate your profits and ascertain the results of your potential decisions. This can allow you to make informed decisions.

NordFX’s Economic Calendar

The Economic Calendar allows you to keep a track of the trades that you make and want to make in the future. This is a good feature to keep yourself updated with how long you have kept assets and calculating your returns over time.

These tools are pretty neat. However, there is a lack of research tools like charting tools that help in predicting stock trends and prices. Similarly, other tools like news feed features could have helped in improving the interface by helping users in their decision making.

NordFX Ease of Use Score: 8/10

#5 Deposit And Withdrawal Options

The withdrawal options and deposit options are numerous. You can deposit and withdraw funds in five different ways:

  • Credit cards (Visa or Mastercard)
  • Union Pay
  • Online Wallets like Skrill
  • Bank Transfers
  • Wire Transfer

As you can see the options are numerous for you to trade in hence, the score is a perfect 10 for deposit and withdrawal options.

NordFX Deposit & Withdrawal Options Score: 10/10

#6 Customer Support of NordFX

Customer support is available via:

  • email
  • Live chat
  • Telephone

The phone service usually quick and someone takes just a few minutes to entertain your request. The email service is fairly quick though with queries often being replied in one day. The customer service provides a chatbot or live chat where customers can instantly get answers for their queries. The comprehensive customer support means that NordFX, scores a 10 in customer service according to our algorithms and permutations.

NordFX Customer Support Score: 10/10

#7 Asset Classes

There are a few asset options that one can trade in NordfFX. It is good in terms of giving a myriad of options to users for forex and crypto pairs. Some of the asset options provided by the broker include:

  • 33 Currency Pairs
  • 11 Cryptocurrency pairs
  • Commodities like gold and silver
  • Stock Indices

The limited option in terms of offering different asset types means that the broker scores only a 5 out of 10 in our scoring system. There are several brokers like that offer many more asset types for you to build diversified portfolios like individual stocks, ETFs, options and bonds.

Related: Also check out our article on trading ETFs.

NordFX Asset Classes Score: 5/10

#8 Referral Program NordFX

NordFX has a referral program that gives you a bonus of 10% of the total deposit value of your friend’s first deposit. This incentivizes people whose friends deposit a huge amount and does not incentivize people whose friends would not perhaps deposit a large amount. For instance, if your friend deposits only $100 you get only $10. This is not much due to which we give it a score of 2 out of 10.

NordFX Referral Program Score: 2/10

#9 Demo Account & Educational Resources For NordFX

NordFX does offer a demo account. The account has similar functionality as the normal account and you can use it to get acquainted with the platform and learn how to trade. However, if there were educational resources and tutorials on how to trade they could have helped investors more. NordFX scores 8 out of 10 in this dimension because it offers decent functionalities for users to get acquainted with the platform but it doesn’t offer good educational resources.

NordFX Demo Account & Educational Resources Score: 8/10

#10 Safety Of NordFX

The app is secure because it is regulated by CySEC which is an established regulatory authority with its own compliance procedures that ensure that the app is run in a way that is safe for users. The safety score is 8 out of 10. The reason why the score is not a complete 10 is that the app does not have restrictions like leverage limits that can be detrimental for new users who may use high leverage values to gamble and lose large amounts of money.

NordFX Safety & Regulation Score: 8/10

While researching 100+ of the world’s top brokers, we’ve noticed what works and what doesn’t from the customer’s point of view. That’s why our final test for any broker is to compare it to, which scores 91/100 points across the 10 categories mentioned in this review.

Comparison With

While NordFX is a good platform that ranks high in our scoring list. There are a couple of dimensions in which it could further improve. The reason this section compares NordFX to is that is the highest ranked broker in our system and comparison with it can give you an idea of how good NordFX ranks with the industry benchmark. We consider to be a better alternative to NordFX for the following reasons: Is Easier To Use

Two of the major difference between the 2 platforms are functionality and usability. The interface of is quite intuitive and easy to use for individuals. Similarly, NordFX’s research functionalities are also not as detailed, intuitive and user friendly as’s whose interface is much more intuitive and instructive. Similarly, also shows plenty of options that show users statistical interpretation of trends to make more informed decisions.

More Assets To Trade offers much more asset types than NordFX such as bonds, stocks, commodities, CFDs that can allow you to trade with various asset types. It is quintessential to build diversified portfolios to hedge them against risks and allows you to do that by offering a wide array of assets at affordable rates with no trading commissions or fees.

Better Educational Resources is a much easier platform to start with. Especially with the fact that you can start with a much more advanced demo account that has access to lectures, articles and resources for you to better understand the platform and trading in general to become a profitable trader. Some of the features offered by are as follows:

  • Free financial webinars.
  • Educational courses for traders.
  • Extensive market glossary.
  • Comprehensive CFD trading guide.
  • Cryptocurrency trading tutorial.
  • Investmate,’s investor education app.

You can see that is a comprehensive guide not only for understanding the platform but also understanding all the trading options that the application provides. In case you want to apply for click the following link.

Related: Read our comprehensive Review of

Final Verdict

One appealing feature for me for NordFX is the 1:1000 leverage that you can take on assets which can multiply your profits. If you are an experienced trader who has experience in trading with leverage you may want to opt for NordFX. Moreover, NordFX has a decent fee structure that can make trading forex profitable and with its simple interface it can be helpful for some users.

On the other hand, has a better interface with a lot of options in CFDs and currency options which NordFX lacks. NordFX has good options in terms of trading forex and crypto: not as many options as, but decent options nevertheless. However, the lack of research tools and educational resources is something that caught my attention and swing my recommendation more towards that also has tools to determine the possible deviations in possible stock prices. So, whether you’re an experienced trader or you’re just beginning is a solid choice.

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