Today, when the Forex market experienced hits from the unregulated companies from all over the world, traders need to be careful where to invest their money. Many businesses were developed with the goal to manipulate inexperienced clients, give them the possibility to invest their money and then withdraw themselves from the market, not leaving any trace to follow. It is a serious problem; therefore, all the traders eager to join the foreign exchange market should make sure that the company they choose is regulated by law. However, this does not mean that the clients have other risks to be concerned about, but those are the risks they can solve with proper research of the market and education on foreign exchange in general. Everyone should be aware that they invest as much money as they can afford themselves to lose. NicoFX company has the experienced team in the foreign exchange market, as well as international financial management and control. NicoFX offers the best Straight Trough Processing trading service with the help of the industry leading trading platform, best pricing, and execution offers. Being a regulated company, NicoFX offers the possibility for segregated accounts and safe trade.
Forex Brokers We Recommend
|$ 50||Check Website||Review|
Background and Regulations
NicoFX is the company which was founded by a group of professionals with over twenty years of experience in financial industry. NicoFX has the headquarters in Cyprus, giving services for individuals and institutional clients across the Europe and around the world. As it is already mentioned, this company is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC), with the license number 226/14. Besides, NicoFX is also registered with Financial Conduct Authority (FCA) of the United Kingdom under the reference number 672844, as well as by German Federal Financial Supervisory Authority (BaFin) with registration ID 142143. Finally, NicoFX is also a member of the Investor Compensation Fund (ICF) and is regulated by the European Markets in Financial Instruments Directive (MiFID). All these facts contribute to the fact that NicoFX, or previously known as Nico Financial NF Ltd., is one of the best European foreign exchange providers. They offer transparent and reliable service to all of their clients, also allowing them a 100% Straight Through Processing (STP) online trading service. Besides they are interested in providing deep market liquidity, best market pricing, as well as best trading conditions. All orders are executed according to your requests and within five business days. It is important to state one more time that the funds are safe and that the accounts are separate. Finally, they provide excellent client support and have the aim to create trustworthy and long-term relationships with their customers. NicFX has the strict policy when it comes to the safety of their clients’ funds and their best interest, and the company is a member of the Investor Compensation Fund. It is necessary to mention that the NicoFX does not offer their services to residents who are under jurisdictions of the United States of America, as well as residents of Cuba, Iran, Syria, Sudan and North Korea.
NicoFX Trading Platform
The NicoFX has award-winning MetaTrader 4 trading platform, which is one of the best and most innovative platforms on the market. The platform is very flexible, available as PC, Mobile – Apple, Android and Windows Phone operating systems, and Tablet version, with excellent security system and user-friendly interface.
NicoFX Account Types
NicoFX offers three trading accounts options:
Minimum initial deposit is $100, which is considered to be average minimum deposit in comparison with other companies. On the other hand, the spreads they offer are not the tightest on the market, spreads start from 2.6 pips on EUR/USD, while the most companies offer spreads from 1 to 1.5 pips on both Euro and American Dollar.
Unfortunately, NicoFX does not provide special offers, bonuses, and promotions which many customers can consider as a disadvantage. This decision certainly has to be considered once again, since many clients would rather choose the company which offers promotions.
Both deposit and withdrawal of funds are processed easily using Bank Wire, China Union Pay, Credit and Debit cards, e-wallet Skrill, as well as other payment options. Minimum deposits are set at 100 American Dollars or Euros. Processing time can be instant for VISA, MasterCard, Skrill, UCB, American Express and Diners Club, while other payment options can last between up to 5 business days. It is also important to mention that NicoFX does not accept third party deposits, and all the withdrawals are going to be returned the same way they were received.
NicoFX has very efficient and friendly client support staff which is available to you 24 hours a day. There are several ways to contact them and ask for the help. You can do it via live chat, email, client portal, telephone or call back option during market trading hours.