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NICOFX Review 2025

Updated:

Brief Look at NICOFX

NicoFX a self-proclaimed European Forex broker established in 2013, raises several concerns. The broker's website doesn’t operate, hindering the ability to review its services and terms. There is insufficient or missing information regarding the available instruments, spreads, leverage, and other critical aspects of trading.
NicoFX holds licenses from the Financial Conduct Authority (FCA, UK), The Federal Financial Supervisory Authority (BaFin, Germany), and the Financial Markets Authority (AMF, France). However, its status with the FCA is marked as "Subscription Cancelled." The BaFin and AMF licenses do not permit the broker to offer services in those countries.
Contact information and jurisdiction websites, other than Cyprus are missing.
Traders have complained about client support and the lack of an online chat. The support is available only via phone and email. Client reviews frequently mention issues with withdrawing funds.
Adding to the red flags, Mount Nico Corp Ltd, which owns NicoFX, previously managed eXcentral EU, a company that surrendered its license and ceased operations.

User Satisfaction i

Score:
2.7/10

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Russelldraw
2 years ago

They do not withdraw money ... To be honest, I did not believe that this happens! This is how many times the reason is called technical reasons. But they don't say the code.

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AndrewMek
3 years ago

Today $400 has disappeared from my account. I did not make trading operations and did not make a withdrawal request. Looks like they just got stolen!

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ConnieTot
3 years ago

I traded with NICOFX a few years ago. Then I was just taking my first steps in Forex, so I purposefully looked for a broker with reliable regulation. NICOFX is doing great with this - it even has an FCA license. The company also offered good trading conditions. Withdrawals have always been quick and without any delay. The terminal worked without failures, the advisers did not crash. I installed robots from different stores and there were no complaints about their work. I had enough currency pairs, leverage too. I started looking for another broker when I realized that the spreads on standard accounts were too high. NICOFX does not offer ECN accounts, so the issue resolved itself.

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palash99
4 years ago

A minimum of information, especially when it comes to trading. And the Mini account is generally under cover of secrecy. In the support, they assured me that you can open a Mini account for me, but they actively insisted on saying how much money I could invest. I interrogated them what specific amount should be on the account, well, the minimum wage or something, they did not answer. All hints that nicofx bred are there.

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dimidrolas
4 years ago

Despite the fact that NicoFx com has a regulatory license, I do not recommend trading here. The license does not save the company from the lawlessness. They do what they want. They can widen the spreads to take out the stop, this has happened more than once. They can simply cancel transactions due to some violations. Or they can simply block the account because of their suspicion.

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magarvz
4 years ago

I applied to NicoFx to withdraw my entire deposit. Because it is simply impossible to trade here. The application was accepted, but more than two weeks have passed, and the money has not arrived. I write to support - silence. The money was debited from the account. I don’t know what to think. Really throw?

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