NordFX India Review 2024 - TU expert opinion
Is the Forex market legit in India?
Forex trading is legal in India. Anybody can become a trader. However, there are important nuances to consider. In particular, you can trade in the financial market in India only with a regulated broker. The Securities and Exchange Board of India (SEBI) is the financial regulatory body of the country. Legal brokers offer access to trading currency pairs and Forex options. Under the SEBI rules, the following currency pairs can be traded in India:
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EUR/INR
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GBP/INR
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JPY/INR
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USD/INR
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EUR/USD
Other currency pairs and also CFDs are officially prohibited in India. Therefore, such instruments can be found only at offshore brokers. However, trading with offshore brokers could lead to big issues with the tax authorities.
How to Trade Forex in India
In order to trade on Forex in India, you are not required to obtain some special status. You need to choose a broker, visit its website and register. Verification of trading accounts is mandatory for traders from India. After that, you can fund your account and start trading.
Detailed Review of NordFX in India
NordFX is a good choice for traders from India. The broker complies with all the requirements of the local regulator and offers attractive trading conditions for the clients.
NordFX is a broker worthy of traders' attention. It offers the widest range of services in the Forex market.
The convenient website of the company allows you to quickly evaluate, analyze, and compare all offers for active and passive trading.
Comprehensive service and customer focus raised the company to one of the leading positions in the Trading Union broker rating.
A few figures that could be interesting for traders choosing a broker:
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operates in 18 countries;
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over 1,250,000 registered accounts;
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Over 25,000 partners;
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Over $30,000,000 paid to partners;
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more than 12 years working in the Forex market.
Advantages of NordFX for trading in India
Traders Union analysts conducted a detailed analysis of NordFX for traders from India. The experts outlined the key benefits of the company for the clients from this country. The advantages of the broker are as follows:
6 asset classes;
advanced CPA up to $700;
support is available in 14 languages.
second-level commission up to 10%;
low spread; accounts with fixed, floating spreads;
free analytics.
The brokerage company took into account the needs of clients. Close cooperation with global marketing leaders during 12 years of work has helped the broker to reach its highest level. A professional team helps their clients to master the heights of business in the Forex market.
Analysis of the Main Features of NordFX in India
Traders Union analysts analyzed the key features of NordFX for traders from India. TU uses its own evaluation method, assessing each block separately. Based on the results of the assessment, an overall score is given.
Trading conditions for NordFX traders from India
It is important to assess trading conditions before you decide to work with a specific company. Traders Union analysts have prepared a comparison of NordFX trading conditions for traders from India. The experts analyzed minimum deposit, trading platforms, leverage and other important information that could impact a trader's choice of a broker.
💻 Trading platform: |
MT4 MultiTerminal, MetaTrader Mobile, MetaTrader 4
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📊 Accounts: |
Demo, Fix, Pro, Zero, Savings
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💰 Account currency: |
USD, BTC, ETH
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💵 Replenishment / Withdrawal: |
Perfect Money, Neteller, WebMoney, Skrill, PayWeb, Payza, HandyBank and Elexnet, FasaPay, EgoPay, DIXIPAY, Payment, bank cards, bank transfer
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🚀 Minimum deposit: |
Fix — $10, Pro — $100, Zero — $500, Savings - $500
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⚖️ Leverage: |
1:1000
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💼 PAMM-accounts: |
Yes
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📈️ Min Order: |
0.01
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💱 Spread: |
From 0.9 pips (floating), from 2 pips (fixed)
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🔧 Instruments: |
Currency pairs, cryptocurrency (11 pairs), 6 CFDs on indices, oil, gold, silver
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💹 Margin Call / Stop Out: |
Fix - 40%/20%, Pro - 40%/20%, Zero - 60%/40%
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🏛 Liquidity provider: |
Multiple
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📱 Mobile trading: |
Yes
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➕ Affiliate program: |
Yes
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📋 Orders execution: |
Order execution: instant and market
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⭐ Trading features: |
Cryptocurrency trade; Copy Trading; RAMM service; Free analytics.
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🎁 Contests and bonuses: |
n/a
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NordFX Commissions and Fees
Traders Union analysts analyzed commissions and fees charged by NordFX for traders from India. Within the framework of the analysis, all types of trading and non-trading fees traders are charged with were evaluated.
NordFXtrading conditions were reviewed by Traders Union analysts for the presence of explicit and hidden commissions. There is no commission for replenishment; commission for withdrawal depends on the type of account and in some cases, it is also absent.
Account type | Spread (minimum value) | Withdrawal commission |
Fix | From 2 pips | No |
Pro | From 0.9 pips | No |
Zero | From 0 pips | 0.0035% for the transaction (in each direction) |
Also, our experts have compared trading commissions at NordFX with those of the broker's competitors. As a result of comparing the brokerage company, we assigned a level: low, medium, high.
Expert Review of NordFX
The brokerage company NordFX has proven itself as a reliable partner by its cooperation with the International Traders Union. Members of the Union especially appreciate the three types of trading accounts offered by the broker. You can choose a trading account with the best conditions for you.
For over ten years of cooperation, there have been no significant complaints from traders against the broker. All issues were resolved in the client's favor.
The Traders Union recommends NordFX as a reliable partner with optimal trading conditions for traders with different levels of expertise.
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FAQs
Is NordFX legal in India?
Yes. NordFX operates legally in India. The broker holds the necessary licenses.
Can you learn trading with NordFX? Does the broker offer courses for traders from India?
Yes, NordFX offers good trading courses and a lot of educational information for clients from India.
Can NordFX be trusted? Has the broker been operating in India long?
NordFX has been operating in India quite long and has a good reputation. Therefore, traders can work with NordFX.
Is NordFX suitable for novice traders from India?
Yes. NordFX offers optimal trading conditions and good education for beginners from India.
How efficient is NordFX customer support in India?
NordFX offers a sufficient number of ways to contact customer support in India, and also provides support in the state language.
Has NordFX had any incidents involving theft of funds of clients from India?
No. NordFX provides reliable security of funds of clients from India.
Will I be able to file a lawsuit in India if NordFX violates my rights?
Yes. If NordFX violates your rights, you can file a complaint with the regulator of India, and then with a court.
Can NordFX clients from India use the broker’s mobile app?
Yes. The mobile app of NordFX is available for the clients from India.
Does NordFX provide India market analysis?
Analysis of India is featured in the information provided by NordFX.
How can I withdraw funds from my account at NordFX in India?
NordFX supports bank transfers and debit/credit cards of the banks operating in India.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.