NordFX

NordFX broker is a brokerage that has been operating since 2008, offering trading in forex, commodities, stocks and cryptocurrencies on MetaTrader 4 and 5. NordFX serves Iranians with a Persian website and support, and crypto deposits and withdrawals. In this overview, we review NordFX's licenses, accounts, payment methods and risks based on Teagle's data.

What kind of broker is NordFX?

NordFX's country of registration is listed on Teagle as Saint Lucia. With around 18 years of history, this broker offers Pro and Zero accounts with floating spreads and leverage up to 1:1000, and its trading instruments include forex, metals, stocks, energy and indices. According to Teagle's expert, users of this broker are satisfied with its automated withdrawals and platform speed. Teagle's data also lists hedging, news trading, use of expert advisors and phone trading for NordFX.

NordFX licenses and credibility

According to Teagle's latest review, NordFX holds three active licenses:

• Registration in Saint Lucia (No. 2023-00470), active;
• FSC Mauritius (No. GB24204016), active;
• FSA Seychelles (No. SD065), active.

All three licenses are offshore. In the words of Teagle's expert, the Seychelles and Mauritius regulators provide weaker oversight than top-tier regulators. Teagle's expert has also pointed to reports filed with regulatory bodies about account blocking or profit cancellation for certain specific strategies. If you are not familiar with the difference between offshore and reputable licenses, read the article An introduction to offshore and onshore brokers .

Does NordFX serve Iranians?

Yes. According to the FAQ and Teagle's data, NordFX provides services to Iranians and has a Persian website and support. However, Teagle's data notes that "an IP change is required" to access this broker. Teagle's expert considers this broker an accessible option for Iranians but advises caution when trading large amounts with it.

NordFX trading accounts

NordFX has two main accounts, each offered on MetaTrader 4 and MetaTrader 5 with slightly different conditions, and all with 1:1000 leverage:

• Pro account: no commission and spreads from 0.9 pips; minimum deposit of ten dollars on MetaTrader 4 and fifty dollars on MetaTrader 5, with a 40% margin call and 20% stop-out.
• Zero account: spreads from zero and a 0.0035% commission; minimum deposit of one hundred dollars on MetaTrader 4 (60% margin call and 40% stop-out) and two hundred dollars on MetaTrader 5 (40% margin call and 20% stop-out).

The Zero account is better suited to traders who trade high volumes and want raw spreads; to understand the difference between these two models, see the article ECN accounts and how they compare with other accounts . 1:1000 leverage also multiplies risk; read the guide Leveraged trading and leverage before using it.

NordFX platforms and services

Trading at NordFX is done on MetaTrader 4 and MetaTrader 5, with Windows, Mac, Android and iOS versions. The broker's additional services include bonuses, rebates, education, copy trading, expert advisors and trading robots, an IB program, a calculator and a specialized glossary. If you want to follow other people's trades, first see Copy trading tutorial in financial markets . You can also follow the terms of active bonuses on the broker bonuses page .

Deposits and withdrawals at NordFX

The minimum deposit across all NordFX payment methods is $10. Deposits and withdrawals with Bitcoin and Tether (on the ERC20, TRC20 and BEP20 networks) are fee-free, and processing time depends on the network. Deposits by Visa and Mastercard are fee-free and almost instant. The TC Pay gateway is also fee-free for deposits, but withdrawals via this route carry a 3% fee. The minimum withdrawal for crypto methods and TC Pay is ten dollars. According to the FAQ, if you do not trade for 365 days, $10 is deducted monthly, and an annual maintenance fee of $20 also applies to accounts with a balance.

NordFX's rating and risk on Teagle

NordFX's final rating on Teagle is 3.95 out of 5, derived from the average of four sources: Trustpilot 4.4, WikiFX 4.03, Teagle's expert 3.9 and Forex Peace Army 3.48; Teagle users' ratings are not yet included in this average. The Teagle Eye risk index for this broker is 35 out of 100, in the "low to medium risk" category; its track record and good credibility ratings have lowered the risk, but the fact that all three licenses are offshore has prevented a better score. See its position in the ranking of brokers suitable for small capital .

Pros and cons of NordFX

• Pro: long track record and good ratings on international sources
• Pro: Persian website and support, and acceptance of Iranians
• Pro: low minimum deposit, high leverage and fee-free crypto deposits and withdrawals
• Con: all three licenses are offshore and weak
• Con: reports of account blocking or profit cancellation for certain strategies
• Con: weak user interface, inactivity fee and the need to change IP

Who is NordFX suitable for?

In the assessment of Teagle's expert, NordFX is a suitable option for retail traders and copy trading enthusiasts who work with small amounts and high leverage. On the other hand, it is not recommended for large investors and professional traders who prioritize the safety of their capital under reputable global regulators. Before deciding, weigh it against a broker with a similar audience in the NordFX vs AMarkets comparison .

Conclusion

With its long history, fee-free crypto payments and Persian support, NordFX is an accessible option for Iranian users, but its offshore licenses and reports of profit cancellation mean you should not entrust it with large capital. Start with small capital, make a test withdrawal, and check for new warnings on the investment risk warning page .