If you’ve been looking up forex brokers online, you’ve probably come across NPBFX. And whether someone else recommends it or not, you might want to learn everything there is to know about the broker before you start trading on the platform. In this article, we review everything about NPBFX to guide you.
Established in 1996, the NPBFX company based in Belize offers specialty services in forex trading. It is based in Saint Vincent and the Grenadines where it is registered by the Financial Services Authority. The company is licensed by the IFSC and is known for offering some of the most innovative forex trading services in the industry. This broker is also a member of The Financial Commission which is an international organization whose main role is to resolved disputes in the international financial services sector. This broker does not however offer its services to US and Canada residents.
As a regulated broker, it offers each client a compensation of up to $20,000 from its Compensation Fund.
Below is a detailed look at all the features offered by the broker.
In 2011, the company started offering trading on the MetaTrader 4 platform which is one of the reasons for its popularity. The MT4 platform is connected to a specific liquidity aggregator enabling NPBFX clients to make direct transactions with Tier 1 banks. The use of the MT4 platform comes from the fact that this is the most popular trading platform that also offers the best trading analytics. Thanks to its professional trading functionalities, the price charts, trading strategy development functions, and the fact that the platform gives you control over your trading account, the MT4 platform boosts the credibility of NPBFX.
The MT4 trading platform comes in versions compatible with Windows devices, as well as iOS and Android devices. The platform is also web-based.
You might also like this platform because of these benefits:
- Fully automation and instant transactions
- It employs the method of Instant Execution that gives you the ability to set your maximum deviation from the quoted prices. It also lets you trade without any rejections or requotes.
- There are no levels of freezing, and you can change or set your orders within a specific spread
- You can hedge on open positions
- Automated trading with the Expert Advisors
- A financial Dow Jones news tape in real time
Besides MT4, trading also takes place on the social trading platform, ZuluTrade and on MyFXBook Auto Trade which is one of the most advanced copy/ mirror trading platforms.
Other than the demo accounts which teaches you to the ropes of the trade, you can trade on three types of accounts: Master, Expert, and the VIP accounts. These accounts have varying trading conditions.
Besides running on the MT4 platform, all trading accounts feature the following:
- No commissions,
- Trade assets include 38 currency pairs, oil, silver, gold, and natural gas
- High-frequency trading and scalping is allowed
- Trading with EAs is acceptable
- Hedging is allowed
- Dow Jones Newsfeed
- The stop-out level is below 30 percent for all accounts
- All accounts allow traders to place orders in the interbank market using the automatic STP/ straight-through processing technology.
- Master Account
This account has a EUR/USD spread of 0.8 pips and an average spread of 1.2 pips. Its minimum trading deposit is $10, and the account gives you high leverage of 1:1000. It has a minimum trade volume of 0.01. Trading is on the MT4 platform
- Expert Account
If you are a seasoned trader, you could use the expert account; you will enjoy competitive spreads of 0.6 pips and an average of 1.0 pips. The minimum trade volume for this account is 1.0 while the leverage stands at 1:200.
Regarding execution, traders have access to Market and Instant Execution models. The minimum deposit is $5000.
- VIP Account
As a VIP account holder, your trading conditions feature leverage of 1:200. The spread for this account is 0.4 pips and an average of 0.8 pips. The account has a minimum account deposit of $50,000 and a trading volume of 1.0.
This broker allows for instant execution of deals, and the brokerage model avoids any conflicts of interest.
The broker offers 24/5 access to its customer support team with live chats as the most common form of communication. The operators are in 8 different languages. Servicing hours are from Sunday at 22:00 GMT to 20:55 GMT on Friday.
Deposits and withdrawals
All traders can withdraw and deposit funds via credit cards, Interbank transfers, and electronic wallets.
The broker gives a 60 percent cash back on all trades, and there is also a $20 no deposit bonus on all real trades.
- MT4 trading platform and 2 other trading platforms
- Low deposit
- Swap-free trades with a leverage of up to 1:500 with no commission
- High-frequency trading
- $20,000 Compensation Fund per client
- Low leverage
- Off-shore broker
- Not available in the US or Canada
Though this is an off-shore broker, a matter that raises questions, the broker is well-regulated, reputable, and it offers some of the best trading services. On the downside, the services are available 5 days a week.
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK