Before you decide to use Nessfx in your trading, you should know a few things about it. This CySEC-regulated broker offers a wide variety of trading instruments, offers four different account types, and offers no-commission trading on two of them. This article will cover the basics and get you started on trading with Nessfx.
Nessfx is regulated by CySEC
If you’re looking for a broker that is regulated by CySEC, you’ve come to the right place. NESSfx is regulated by CySEC and MiFID, and their trading platform holds client funds in segregated accounts. These regulations ensure the safety of your funds, but don’t guarantee that a broker is operating in your best interests. In addition to CySEC regulation, NESSfx is also owned by FXNet Ltd., which operates the FxNet and Rynki brands.
Although NESSfx is regulated by CySEC, its website doesn’t have great user-friendliness. In addition, it is not easy to navigate and lacks accessibility features. If you’re unfamiliar with MT4 trading platforms, NESSfx’s website may be unfamiliar. Users can easily get confused about how to use the website and make mistakes in the process.
It offers a variety of trading instruments
While other online brokers may have a limited selection of trading instruments, nessfx offers a plethora of options. The company’s economic calendar displays a variety of news releases and their impact on various markets. It’s helpful for fundamental analysis, but you can also customize it to display only relevant news. Another drawback is the lack of an educational center or trader’s academy. Though the company offers a handful of FAQs scattered throughout the website, it doesn’t have a dedicated learning center or trader’s academy.
For traders with an advanced knowledge of trading, the company has several different account types. A Micro account is free, but a Premium account costs $2000. Customers can choose from MT4 desktop and mobile versions. A Platinum account is available for traders with a minimum deposit of $20,000, and offers a variety of trading instruments. In addition to standard and micro accounts, Nessfx offers an Islamic account that adheres to Islamic Sharia Law.
It offers trading without commissions on two of them
There are two main types of accounts at NESSfx: the professional and demo. While both provide the same benefits, the professional account has more restrictions and may not be suited for new investors. Moreover, the demo account lacks features that make it useful for fundamental analysis. The company also lacks educational resources for its clients. The FAQ section is scattered throughout the website, but there is no dedicated learning section.
In addition to offering trading without commissions on two of their three account types, Nessfx also offers zero-pip spreads and fast and reliable trade execution speeds. The company also prohibits the use of re-quotes or rejections. Its customers can take advantage of trading strategies that are best suited for their experience and knowledge. Nessfx allows traders to use scalping, news trading and hedging to make money from the currency market.
It has high leverage for professional clients
The minimum deposit amount for a NessFX account is $200, while most regulated brokers require a lower minimum deposit. While these are decent minimum deposit amounts, they’re far too high for most people. This company does offer a VIP account with higher leverage, however, but it comes with no other bonuses or promotions. Likewise, there’s no broker introduction program. Instead, the company has three levels of accounts.
NessFX offers nearly 200 popular trading instruments, including major and minor currency pairs, as well as exotic currency pairs. Customers can also trade commodities, shares, indices, and cryptocurrencies. The company uses the industry-standard MetaTrader 4, which allows for high leverage. For a minimum deposit of USD500, NessFX offers a Micro Account. The company’s Premium Account offers spreads of 1.9 pips, while the Platinum account requires a minimum of $2000. Traders can choose from between a 1.9 pips spread and a 20,000-dollar deposit.