NordFX Review 2023 – CySEC Regulated Offshore Broker

Whenever clients see a broker regulated by CySEC, a tier 1 regulatory body, they believe they are dealing with a legit brokerage. However, don’t rush just yet. Let’s see our NordFX review and see what is happening with this brokerage.

NordFX Regulation and Security

NordFX is a brand owned by NFX Capital CY Ltd from Cyprus, regulated by CySEC. However, the company has another entity in Vanuatu, NFX Capital VU INC, regulated by VFSC. Having a CySEC brand at your disposal is always good, but what happens if you are assigned to an offshore one? Since both of these entities have the same website, you can never know to which one you belong, and your funds belong.

And if you belong to an offshore entity, you have no compensation fund and no guarantee that you will be reimbursed in case of a scam.

We would advise you to stay away from such brokerage and also Finetero, AG Kapital and HQ Trade.

Warnings From Financial Regulators

Since the broker is operating in several EU countries as a registered CIF, it was odd to see that one eminent EU regulator, such as CMVM from Portugal, issued a warning against NordFX. Yet, this regulator stated that NordFX is running a scheme in Portugal, and everyone who has been a victim should report a broker immediately.

Fund Withdrawal Issues

With several different entities and one regulatory warning, we are not surprised to see that clients are experiencing withdrawal issues with NordFX. According to some NordFX reviews we’ve seen, the broker also has an operation in India, besides Cyprus and Vanuatu. Some of the clients also reported Mauritius as a location they heard from NordFX broker’s employees.

Now, when you have too many countries, too many regulatory bodies, and too many support teams, of course, you will have space to play with clients and their funds.

As per NordFX reviews by investors, the broker is processing withdrawal requests extremely slow and requesting clients to submit documents to all the entities, just for them to realize money will never come to their bank.

Traders Opinion

As aforementioned, NordFX has many entities, and clients are highly disappointed by the service they are provided with. On many websites, the total score of the broker is lower than 3/5 simply because clients are unable to withdraw funds, and the support the company is giving is way below standard for a CySEC brokerage.

For sure, you should be aware of this broker’s multiple regulations and understand that you can be assigned to any entity and fall under any regulatory rules. Or better said, no rules.

How Does Online Trading Scam Work?

As’s the case with many brokers, you are seeing some trading ads and signing up. Yes, the broker might seem legit and regulated, like NordFX, but here comes the catch. Not everything that appears amazing is amazing. Once you invest the money (the broker is offering you to start with $10), you are being asked for more on the same day. Simply, from $10, you cannot make a profit. And we will agree. It’s too risky. However, the broker should then set some realistic investment account and not falsely promise to invest with such a little money.

Also, another scam we often see, and we saw with NordFX as well, is a lottery. For lucky customers who reach a certain number of trades, profit, etc., will be provided some special conditions. All this to extort more money. A legit broker does not need such games since his regulation and trustworthiness are behind it.

Scammed by NordFX?

If you were scammed by NordFX, you should know that there is a possibility of getting your money back. You should file a dispute and request a chargeback.

But what is a chargeback? It’s a way to refund your card in case you were scammed online. Contact our support via chat and get all the details about the process.

Do not let a scam broker walk away, get your money back now!