Despite its young age (2008 – year of establishment), NordFX, a division of Nord Group Investments Inc., an investment financial company, is well known globally, including in the post-soviet space. During this short period of time NordFX managed to be nominated the Best Foreign Currency Broker, the Best Platform for Retail Trading in Foreign Currencies, the Best Foreign Currency Trading Expert etc. This is the broker that real pros of the forex market trading and absolute newcomers who are only starting to master the ins and outs of trading in the international forex market cooperate with.
NordFX has many features appealing for the trader, including an abundance of accounts the broker offers to its partners. Choosing the account is entirely up to the trader who should take into consideration his or her experience, available capital and the trading platform they use.
It best suited for beginner traders who are still preparing for real money: the minimum deposit – $5, the minimum lot – 0.01, leverage – 1:500, 21 currency pairs.
Intended for people who want to find out how the broker works. Similar to the Micro account. However, $8 is credited to the trader's account straight away. Margin Call/Stop Out – 40%/20%.
The name speaks for itself. The minimum deposit – $50, the minimum lot – 0.1, leverage – 1:200, 44 currency pairs plus gold and silver, Margin Call/Stop Out – 40%/20%.
Intended for trading through MetaTrader 5 (NordFX offers its traders as many as four different platforms). Terms and conditions are mainly similar to those in the Standard account.
For VIP partners. The minimum deposit – $50,000 plus custom services and lower spreads for currency pairs.
Suitable for experienced traders and helps to minimize costs. Operates in MetaTrader 4 with prices streamed directly from ECN Currenex, without any adjustments. The minimum deposit – $1,000, the dynamic spread – from 0 pips, the maximum lot – 20 (with an increment of 0.1).
For hugely experienced pros who can work through NFX Trades or by using the FIX protocol. The minimum deposit – $20,000, the dynamic spread – from 0 pips, the maximum lot – unlimited.
For those accustomed to trading through the globally acclaimed CQG Trader platform. The minimum deposit – $50,000.
Late last year NordFX offered its traders another account type:
NordFX was able to introduce this account through close cooperation with ZuluTrade, a major automated trading developer in the international forex market. By using the ZuluTrade account, the trader can trade both manually and automatically. This account is characterized by the following features:
• Minimum deposit — $50 (or €50).
• Leverage – 1:200;
• 44 currency pairs, gold and silver.
• Minimum lot – 0.01.
• Maximum lot – 50, increment – 0.01.
• Spreads – from 1 pip;
• Maximum volume of open trades — unlimited.
• Number of open trades and pending orders – unlimited.
• Margin Call / Stop Out – 40% / 20%.
• No Trailing Stop support.
• Automated trading based on laws of logic and rules out emotion.
• A wide selection of signal providers.
• Exclusive signal provider rating system.
• Trading any time of day and night (even if the PC is off).
• Full control of the account.
A fee is charged from this account for using the ZuluTrade system (further details of amounts are available at the broker's official web site, www.nordfx.com).
Regardless of the account type that the trader chooses at NordFX, it is easy and fast to open as you don't have to prepare a pile of papers and send them by mail. Just fill out a short form on the broker's web site. Accounts can be funded online through such electronic payment systems as Webmoney, Liberty Reserve, Moneybookers etc. When transferred, funds become immediately available in the trader's trading account.
Yesterday, on May 22nd, Ben Bernanke held a speech in the US Congress. This time, the Congress considered the possibility of curtailing the existing QE program prematurely because the programs seemed to have given positive results.
These days, anyone can make money trading Forex and other financial markets. The opportunities are almost endless. Still most traders still lose in the long run. While some lack experience and skills, others fall prey to emotions or fail to stick to sound money management. There are many reasons for losses. Few people actually make money in the long run because they treat trading seriously like a full-time job and work hard to achieve their goals. They use technical and fundamental analyses and strictly observe money management rules. They use various tricks and techniques to put the odds in their favor.
Apparently, beginners have difficulty trading financial markets without knowledge, skills and experience. Becoming a professional trader requires diligence, patience and time.
However, today’s Forex industry offers riskless moneymaking opportunities, which require no trading skills. You can make money without trading Forex. One of such opportunities is offered by FBS, a major Forex broker. The broker claims to offer “The most profitable and efficient IB Program on Forex”…
Yesterday, on May 21st, was a notable day for the eurozone. The Euro Parliament approved the Euro Group’s idea to use major deposits over €100 000 in emergency situations to save a risky bank. Deposits under €100 000 are ensured by the compensation scheme.
Most beginning traders are sure that it is possible to trade Forex profitably and easily. They usually assume that perfunctory knowledge is enough to make money in financial markets in general and Forex in particular. Alas, they are wrong. Obviously, it is possible to trade Forex profitable. However, it cannot be done without specific knowledge, skills and experience.
This delusion is the main reason why they lose in the long run. As a result, most of those losing beginners get disappointed at Forex and abandon the idea of becoming a winning trader forever. Some of them even start call it a scam or fraud. Some of them put the blame on brokers while others refer to bad luck.
Essentially, Forex has nothing to do with scams. Apparently, you may come across some dirty broking companies but that has nothing to do with Forex itself. Besides, such scammers can easily be avoided by following a few simple rules. However, this is another story (Masterforex-V Academy told us many times how to choose a reliable broker).
Today, on May 20th, Forex started a new trading week. There have been no radical changes in the market of EURUSD so far. The previous bearish move was elongated by some 200 points. The price keeps developing the ABC pattern of wave level Daily. The move hasn’t reached any of the given targets so far.
It seems like more and more experts feel bearish on the near-term prospects of the common European currency. Some of them say that EURUSD may even drop down to 1,15 in late 2013. If this is the case, this will be the lowest level in 10 years.