Some traders like trying their luck on new brokers since most of them come with fresh ideas. Ntfx is one of the new brokers in the trading industry. Before depositing your hard-earned cash with them, go through this review to determine if it is worth it,
Who is behind the broker?
Ntfx Capital Limited established this broker in 2016. The company has its headquarters in Cyprus. It is still a young broker that has to build its reputation. One of the right steps they have taken is having it regulated by a strong body. CySEC has licensed and regulated Ntfx. Though the broker gives you a chance to trade forex, they don’t offer instruments like CFDs on stock, commodities or even indices.
What trading platforms are available and supported?
The young broker avails the Meta Trader 4 platform for financial experts to utilize. You can access the platform from a mobile device or desktop. Most traders like this platform since it is easy to use and has numerous technical tools for analysis.
What types of accounts are available?
Ntfx does not offer different types of accounts like other brokers. You can only open a classic account which offers automated trading. To open an account with this broker, you must make an initial deposit of $ 30.
Spreads, Leverage, and commission
The broker offers leverage of 1:500. It provides traders with variable spreads on EUR/USD that amount to 1.4 pips. There are no commission fees from trading with this broker. Ntfx offers access to free trading signals, but they don’t mention any bonuses on their website.
Deposit and withdrawal options
You can make deposit an amount or withdraw using options such as bank wire transfer, debit or credit cards, and e-wallet. The broker takes only one business day to process your transaction preventing traders from experiencing delays. You may, however, incur additional fees during withdrawals.
The website offers useful information when it comes to customer support. They provide their email address and phone lines to talk to a representative. The live chat facility provides you with instant feedback. They offer their services in both English and Russian.
- It is well-regulated
Any broker under the licensing of CySEC is a credible one. Ntfx is a well-regulated company that is safe for traders.
- Low deposit and high leverage
The initial deposit you make to open an account with this broker is small compared to others. It also has high leverage which increases your chances of multiplying your earnings.
- They don’t accept traders from all countries
If you are in the US, Canada, Belgium, and Japan, you cannot trade with Ntfx since they don’t accept traders from these regions. This is inconveniencing to most traders.
- Lack of account types
Other brokers offer different types of accounts to suit the needs of various traders. The lack of account types in Ntfx is a drawback since it classifies all kinds of traders in one category. This can prevent experienced traders from maximizing their potential.
Ntfx is a regulated broker that comes with high leverage and variable spreads. Though the broker complies with the standards of CySEC, it fails to provide CFDs on stocks, commodities or indices. It also does not offer different types of accounts to traders making it inconveniencing. If you are an experienced trader, this broker can be limiting since it has a long way to go.
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK