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On-line since: 2014
Country of origin: Malta
Regulation: the MFSA
Payment options: bank transfer, bank cards, Skrill, Neteller
Minimum account size: $300
Minimum lot size: 0.01 lot
Leverage: up to 1:200
Spreads: floating, from 0 pips

About the company:

NSFX is a broker registered in Malta that works on the markets of England, France, Germany, and Italy. NSFX is regulated by the Malta Financial Services Authority (MFSA), as well as MiFID, FSA, BaFin and other local licensing authorities.

NSFX clients can trade commodities, including gold, silver, as well as crude oil, currencies, indices and CFDs.

Company. Safety of funds

The MFSA is the only financial regulator in Malta, it applies certain rules and requirements to the license holders.

In addition to the minimum capital requirements of 730,000 euros, license holders must regularly report to the regulator and provide internal control over all financial transactions.

Malta has been a member of the European Union since May 1, 2004. Thus, each investment company regulated by the MFSA also has the right to offer services abroad within the EU under the EU Markets in financial instruments directive (MiFID).

As an additional guarantee of financial safety, NSFX Ltd. became a participant of the Investors Compensation Scheme.

Moreover, NSFX Ltd. is registered in a number of EU regulatory bodies, such as the FCA (the UK), BaFin (Germany), the CONSOB (Italy), the CNMV (Spain), the ACP (France), and FINANSTILSYNET (Denmark).

Trading conditions

Minimum initial deposit

To open an account with NSFX, traders must invest at least $300. This limit is quite low, but some companies offer to start trading with the initial deposit of $1.

Spreads and commissions

This broker offers both fixed and floating spreads. We do not recommend the FIXED account, as the spreads are quite high: 3.0 pips for EUR/USD.

The ECN account provides lower variable spreads, an average of 0.9 pip for EUR/USD, but also includes a commission of $8 per lot. Basically, the trading costs for ECN account holders are about 1.7 pips for EUR/USD, including commission, which is relatively high in comparison to other forex brokers. In addition, to access the ECN environment, a trader has to invest at least $3,000.

Leverage

The highest level of leverage offered by NSFX is 1:200, which is considered average. Many brokers offer up to 1:500 or even 1:1000 leverages. See these brokers in our ranking.

Trading platforms

This broker supports famous MetaTrader 4 (MT4) and also offers its own trading platform NSFX JForex. Both platforms have PC, browser, and mobile versions.

MT4 is a world-famous trading platform that offers a full range of tools for trading: a number of built-in technical indicators, an expanded set of charts, and a wide range of expert advisors. Traders can download ready-made EA or create their own for automated trading.

The NSFX JForex platform enables trading via the ECN/STP technology, therefore, to open a live NSFX Jforex account, it is necessary to invest at least $3,000. The platform features a control panel that integrates trading tools and information directly into the trading platform to allow users to execute orders instantly without having to switch from one screen to another. However, it seems strange that the charts are not activated by default. In addition, the interface is not quite user-friendly.

NSFX JForex supports a wide list of direct and pending orders: Market, Limit, Stop, Stop Loss, Take Profit, Place/Bid, Trailing Stop, Stop Limit, OCO, IFD and others.

The best feature of NSFX JForex is deep interbank liquidity.

Education

Traders can use many different materials provided by the NSFX Academy.

The video course includes explanations of the main forex terms, trading strategies and market analysis. At the end of each video lesson, a trader has to pass a test to solidify knowledge and start the next stage. The broker also gives access to text materials on forex trading.

Sometimes, NSFX organizes webinars.

The list of daily forex quotes is constantly updated. The economic calendar is an interactive overview of the most important economic events of the day and the week.

The website features daily market analysis and news.

Support service

Traders can contact the NSFX representatives in any of the broker’s offices located worldwide. Support service is available via email, phone, and live chat. NSFX operates from Sunday 21:00 GMT to Friday 22:00 GMT.

The NSFX website has only English and Arabic versions.

Payment Methods

NSFX clients can use the following payment methods to make a deposit: credit/debit cards (MasterCard, Maestro, American Express, Visa), bank transfer and popular payment systems Skrill and Neteller.

According to information on the NSFX website, withdrawals are processed within 1 business day.

Advantages:

• regulated broker;
• educational materials;
• two trading platforms.

Disadvantages:

• high initial deposit for the ECN account;
• high spreads.