NSFX Review

NSFX Review

Forex, Energy, Indices & Precious Metals

  • MFSA regulated ✔
  • MT4 & JForex ECN trading
  • EUR/USD: 0.4 average
  • ECN Trader Friendly grade: A
  • $8 per lot commissions
  • Islamic accounts
  • $300 minimum deposit
  • MT4 Fixed spreads/li>
ECN Trading on JForex & MT4 • NSFX

NSFX Review

NSFX is a Forex broker which supports both fixed spread non-ECN trading and variable spread ECN trading, offering a range of markets. Fixed spreads are available on MT4 (for Forex major pairs) and variable tight spreads are available on MT4 and NSFX JForex, for higher minimum deposits. Scalping, hedging and EAs are allowed. NSFX is regulated by the MFSA in Malta and is registered with the FCA in the UK.

Briefly, what does NSFX do ?

NSFX provides JForex and MT4. It offers two ECN accounts, one on MT4 and one on JForex. It also has an account which offers fixed spreads for Forex major pairs on MT4. This account does not charge commissions for Forex. Its ECN account can offer low variable spreads, to which a commission charge is added. Its lowest minimum deposit is for the fixed spread account. Its MT4 ECN account has a higher minimum deposit and the JForex account has the highest. JForex is a platform which is optimised for ECN trading and can be used for both discretionary and automated trading.

Account currencies

Account currencies are: GBP, USD and EUR.

Account opening and minimum deposit

NSFX offers three account types, MT4 Fixed, MT4 ECN and JForex. The minimum deposit for MT4 Fixed is $300, the minimum deposit for MT4 ECN is $3,000 and the minimum deposit for JForex is $5,000.

All three NSFX accounts offer micro lot trading. The MT4 ECN and JForex account are market execution accounts, the MT4 Fixed is an instant execution account.

ECN at NSFX consists of the broker executing client transactions directly to the order books of Tier-1 liquidity providers, find out more about ECN at NSFX.

Account services

Daily fundamental analysis and daily technical analysis is provided on the website along with Trading Central. NSFX also offers the NSFX Academy on its website, which includes an FX Video Course, Trading Examples and Guides and an eBook about Forex. The MT4 Fixed and MT4 ECN accounts provide a personal account manager and the JForex account provides a dedicated account manager. NSFX says that it uses negative balance protection to make sure that account balances cannot become negative.

Islamic accounts

An Islamic account is available upon request from the account dashboard.

Hedging, scalping and Expert Advisors

Hedging is allowed on all three account types. Only on the MT4 ECN and JForex accounts are EAs enabled and scalping allowed.

Platforms

NSFX provides MT4 and the NSFX JForex platform. MT4 can provide fixed spreads or variable ECN spreads and NSFX JForex provides variable ECN spreads.

  • NSFX JForex is NSFX's white label for the JForex platform, which provides Level II market depth. It is a platform which can handle trading from non-automated to automated. NSFX JForex comes as a web trader which can be launched from the account dashboard and as a downloaded platform.
  • NSFX JForex is a platform for ECN trading on NSFX. It can be in either a light or a dark skin. Charts can be area, line, bar or candlestick. It also has a 'table' option where prices are listed with bid, ask and bid volume and ask volume.
  • Time frames are from tick to 1 month. Periods can be time based, or price based, with the price based periods of Range, Renko, Line Break, Kagi, Point and Figure and Tick bars. Market depth can also be seen on the order box.
  • A news feed and an economic calendar can be turned on or off on the platform. The news feed contains news about instruments such as currency pairs and more general news. Strategies can be run from the platform. It has a built in API which allows for custom strategies. There is a large number of indicators available from the chart, with over 180 available.
  • The web and mobile versions of NSFX JForex have more limited functionality than the desktop version.

Practice account

NSFX provides a demo trading account for free which can be opened here: NSFX practice account.

Markets

There are 60+ markets available, covering Forex pairs, Energy, Indices and Precious Metals on the MT4 ECN and JForex accounts. Most are Forex pairs (50+), though there are 7+ Indices. The precious metals are Spot Gold and Silver and Energy is UK Oil and US Oil. The MT4 Fixed account offers Forex Major pairs.

Minimum trade size

The minimum trade size is 0.01 lots for all account types, but it can be higher for some markets.

Commissions

The MT4 Fixed account does not charge commissions, the MT4 ECN and JForex accounts charge commissions of $8 per lot round trip in addition to the spread.

Spreads and leverage

Spread on the MT4 Fixed account are fixed without a commission charge, spreads on the MT4 ECN and JForex accounts are variable plus a commission charge.

  • Spreads are fixed on the MT4 Fixed account and are 3 for EUR/USD, GBP/USD and USD/JPY and 4 for AUD/USD.
  • For the MT4 ECN and JForex accounts spreads are variable. EUR/USD has an average spread of 0.4 (but it can go as low as 0.1), GBP/USD and USD/JPY have an average spread of 0.6 and AUD/USD has an average spread of 0.9. Gold has an average ECN spread of 0.09, UK100 has an average ECN spread of 2 and US Crude Oil has an average ECN spread of 0.05.

Maximum leverage for NSFX is .

Funding

Deposit methods include debit/credit card, wire transfer, fast transfer, Skrill and Neteller. NSFX charges no deposit fees and no withdrawal fees except for Skrill and Neteller where there is a 3% withdrawal fee.

Regulation

NSFX Ltd. holds a Category 3 investment services License no. IS/56519 issued by the Malta Financial Services Authority (the MFSA). NFSX is registered with the Financial Conduct Authority in the United Kingdom, registration number 595195. Its address is: 168 St Christopher Street, VallettaVLT 1467, Malta.

Summary

For Forex, NSFX provides fixed spreads without commissions from 3 pips and average ECN spreads with commissions from 0.4 pips, thus providing either fixed or variable spreads. A notable feature of this broker is the provision of JForex, providing a custom ECN trading platform to traders for a higher minimum deposit, as well as supporting non-ECN fixed spread trading and ECN trading for a lower minimum deposit on MT4.

This broker can perhaps be seen as an ECN broker, which also provides fixed spreads non-ECN trading, as it does not offer a large number of CFDs to trade. Furthermore it has a relatively high minimum deposit to access its ECN services. But for an ECN broker, the provision of fixed spreads along with its account services may help differentiate it in terms of additional support for non-ECN trading.

As an ECN broker, NSFX provides a competitive number of assets and charges a competitive commission. The provision of JForex in addition to MT4 as well as both fixed spreads and ECN spreads helps give NSFX an ECN Trader Friendly grade of A.

Pluses and minuses

  • NSFX provides both MT4 and JForex
  • NSFX offers both fixed non-ECN spreads and variable ECN spreads
  • Fixed spreads are available for Forex major pairs on MT4
  • It has a competitive commission charge for its ECN accounts
  • NSFX requires a higher minimum deposit to access ECN services and an even higher one to access JForex
  • For an ECN broker, it provides a competitive number of CFDs and range of markets
  • It offers a range of account services
  • MT4 is available for both fixed spread non-ECN trading and ECN trading
  • NSFX is MFSA regulated