On-line since: About the company: NICOFX is a STP broker which has been operating since 2013. It offers trading 38 currency pairs, spot metals, oil, and CFDs. Company. Security of funds The brand is managed by Mount Nico Corp Ltd. headquartered in Cyprus. The company is licensed by CySEC. Moreover, the company owns another Forex brand, GreatSky. Under the CySEC rules, companies must have €730,000 on their accounts, keep investor funds on segregated accounts, participate in the Investor Compensation Fund, and report regularly to the regulator. All these requirements reduce the risks of fraudulent activities by the broker. According to the MiFID directive, the NICOFX broker can operate throughout the European Union. Trading conditions This broker provides its customers with the following account types: Standard, Premium, VIP, as well as Islamic accounts without charging swaps. On every account, the STP/ECN execution, variable spreads, and micro lots are available for trading. Margin Call is set at the level of 100%; Stop Out — 50%. Minimum initial deposit In order to open an account with NicoFX, traders must deposit $100. In our ranking, you can find brokers who allow clients to conduct trading even with $1. Spreads and commissions Variable spreads of NicoFX start from 2.6 pips on EUR/USD, while, on average in the industry, variable spreads for this pair do not exceed 2 pips. Leverage The maximum level of leverage is 1:200. However, many brokers offer even higher values, for example, up to 1:500 or even 1:1,000. Please note that the leverage level for gold and silver is fixed and amounts to 1:100. Trading platforms This broker supports MetaTrader4, the most popular trading platform on Forex, available in the desktop version, browser, and mobile applications. The platform has a simple, user-friendly interface with a wide range of functions, which makes it suitable for both beginners and professional traders. MT4 provides a range of technical indicators, sets of charts, advisors, trading signals, and much more. Payment methods Customers of NicoFX can use the following methods of payment: credit/debit cards, bank transfer, China Union Pay, and the Skrill e-wallet. Advantages:
Disadvantages:
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NICOFX has given me a weird experience so far! although I can't trade on their MT4 platform, As order execution always slippage and spread could rise in news release time. Also, I have found a fake price chart with many false candles. I say, NICOFX is a disappointing broker. Overall their service is horrible in the market, they didn't know how to care and fulfill traders' needs.
NICOFX is a well-regulated broker. I feel safe and comfortable trading with NICOFX. Everything about NICOFX is just impressive. In terms of trading experience, I did not have any difficulty because the broker provides different platforms which are all fully functional and easy to use. The trading fees are also tight and fixed. But what I love the most is their efficient withdrawal system. I recently withdrew my profit of $500, and it was transferred the next day. NICOFX is the best broker!
NicoFX brokers aren't perfect for scalpers like me. As my EA failed and their risen spread is harmful. So my order goes through huge slippage and I can't trade by the EA on their platform. I say NicoFX broker has the worst platform and service. As I want to leave them.
I have been trading with NICOFX for more than six months. I'm using their MT4, and the platform is simple and easy to use and understand. I never get any requote or difficulties during my trading. The platform keeps stable even during volatility. I have made a profit with them and requested 3 times withdrawal amounts $100-$400. So far, when I requested a withdrawal, I never wait so long for them to be credited into my bank account. Thanks, NICOFX
I was think NicoFX is a good broker, but they just proof me wrong. They told me that there they do not have any slippage and that limit orders would be executed at the requested price. What is most unacceptable is that they lied to me and it has cost me more than $500. My S/L and T/P nearly always get 10 or more pips slippage, market orders can get up to 15 pips in slippage I have even seen 10 pips on one trade. I have complained to them numerous times about the slippage but they keep referring to their stupid slippage policy which says nothing about refunds and my complaints fall on deaf ears. Stay away from NicoFX broker!
NicoFX has been my Forex broker for many years now and I am happy to say that throughout the years, this broker never failed to provide quality services. In fact, they even keep improving. This broker is very generous especially when it comes to leverage hence, traders are not restricted on the amount of leverage that they want to get.
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