NordFX Malaysia Review 2024 - TU expert opinion
Is the Forex market legit in Malaysia?
Forex trading is legal in Malaysia. Anybody can be a trader. However, there are certain rules in the country that everybody has to follow. Traders in Malaysia can trade only with brokers that are regulated by the local authority. Bank NEGARA is the country’s financial regulator. The bank is responsible for issuing licenses and overseeing that companies fulfill their obligations to traders.
Malaysia is mostly a Muslim country. Therefore, availability of an Islamic account is one of the important requirements to brokers operating in this country. It is a swap-free account that complies with the Sharia Law. In this jurisdiction, traders can freely work with various trading instruments, including currency pairs, precious metals, energies. CFD trading is not allowed.
How to Trade Forex in Malaysia
In order to start trading in the Forex market in Malaysia, you need to register with a broker. The registration form differs depending on the broker. Verification is mandatory for traders from Malaysia – proof of identity and proof of address. After that you need to fund your account. Licensed brokers in Malaysia must accept the ringgit, the local currency. After that, traders can start trading.
Our Evaluation of NordFX
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
NordFX is a moderate-risk broker with the TU Overall Score of 6.76 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by NordFX clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
NordFX is an excellent choice for active and passive earnings. The all-business broker is perfect for traders with different temperaments, trading styles, and experience in the Forex market.
Detailed Review of NordFX in Malaysia
NordFX is a good choice for traders from Malaysia. 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:
-
operates in 18 countries;
-
over 1,250,000 registered accounts;
-
Over 25,000 partners;
-
Over $30,000,000 paid to partners;
-
more than 12 years working in the Forex market.
Advantages of NordFX for trading in Malaysia
Traders Union analysts conducted a detailed analysis of NordFX for traders from Malaysia. 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 Malaysia
Traders Union analysts analyzed the key features of NordFX for traders from Malaysia. 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 Malaysia
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 Malaysia. 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
|
---|---|
📊 Accounts: |
Demo, Fix, Pro, Zero, Savings
|
💰 Account currency: |
USD, BTC, ETH
|
💵 Replenishment / Withdrawal: |
Perfect Money, Neteller, WebMoney, Skrill, PayWeb, Payza, HandyBank and Elexnet, FasaPay, EgoPay, DIXIPAY, Payment, bank cards, bank transfer
|
🚀 Minimum deposit: |
Fix — $10, Pro — $100, Zero — $500, Savings - $500
|
⚖️ Leverage: |
1:1000
|
💼 PAMM-accounts: |
Yes
|
📈️ Min Order: |
0.01
|
💱 Spread: |
From 0.9 pips (floating), from 2 pips (fixed)
|
🔧 Instruments: |
Currency pairs, cryptocurrency (11 pairs), 6 CFDs on indices, oil, gold, silver
|
💹 Margin Call / Stop Out: |
Fix - 40%/20%, Pro - 40%/20%, Zero - 60%/40%
|
🏛 Liquidity provider: |
Multiple
|
📱 Mobile trading: |
Yes
|
➕ Affiliate program: |
Yes
|
📋 Orders execution: |
Order execution: instant and market
|
⭐ Trading features: |
Cryptocurrency trade; Copy Trading; RAMM service; Free analytics.
|
🎁 Contests and bonuses: |
n/a
|
NordFX Commissions and Fees
Traders Union analysts analyzed commissions and fees charged by NordFX for traders from Malaysia. 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.
FAQs
Is NordFX legal in Malaysia?
Yes. NordFX operates legally in Malaysia. The broker holds the necessary licenses.
Can you learn trading with NordFX? Does the broker offer courses for traders from Malaysia?
Yes, NordFX offers good trading courses and a lot of educational information for clients from Malaysia.
Can NordFX be trusted? Has the broker been operating in Malaysia long?
NordFX has been operating in Malaysia quite long and has a good reputation. Therefore, traders can work with NordFX.
Is NordFX suitable for novice traders from Malaysia?
Yes. NordFX offers optimal trading conditions and good education for beginners from Malaysia.
How efficient is NordFX customer support in Malaysia?
NordFX offers a sufficient number of ways to contact customer support in Malaysia, and also provides support in the state language.
Has NordFX had any incidents involving theft of funds of clients from Malaysia?
No. NordFX provides reliable security of funds of clients from Malaysia.
Will I be able to file a lawsuit in Malaysia if NordFX violates my rights?
Yes. If NordFX violates your rights, you can file a complaint with the regulator of Malaysia, and then with a court.
Can NordFX clients from Malaysia use the broker’s mobile app?
Yes. The mobile app of NordFX is available for the clients from Malaysia.
Does NordFX provide Malaysia market analysis?
Analysis of Malaysia is featured in the information provided by NordFX.
How can I withdraw funds from my account at NordFX in Malaysia?
NordFX supports bank transfers and debit/credit cards of the banks operating in Malaysia.
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.