Nation FX Review: An In-Depth Look Into The Nation-fx.com Profile
Now and then, we come across a reliable and transparent brokerage, and when we are just about to recommend it to traders, we realize it operates without a license. However, that is not the case with this Nation FX review, as the broker we are evaluating is regulated.
With its variety of financial instruments, this firm has it all. They provide services to almost all countries worldwide, and the brokerage continues to grow as time passes. Continue reading to learn more, and don’t forget our CornerTrader review for another reliable broker to consider.
Who Is Nation FX?
Nation FX is a licensed onshore and offshore broker that can provide services to almost all countries in the world. The firm offers CFDs on six asset classes: forex, stocks, spot indices, futures, metals, and energies. Nation FX is the trading name of MGF Capital Pty Ltd, a firm regulated by a top-tier authority, ASIC in Australia.
|Nation FX||Reliable Broker Must Have|
|Legal name||MGF CAPITAL PTY LTD||Transparently displayed in the disclaimer or legal documents|
||Within your legal jurisdiction – local regulator|
|Registered in||66 809-811 Pacific Hwy Chatswood NSW 2067, Australia
465 Victoria Ave, Chatswood, NSW 2067, Australia
Suite 305, Griffith Corporate Centre, Beachmont – Kingstown, St. Vincent and the Grenadines
|Your country or the country whose license applies in your legal jurisdiction|
|Established||2021||The older the domain – the higher the possibility the company is trustworthy|
|Website||nation-fx.com||Domain should be from local or international zones, no .xyz, etc.|
|Financial Authorities Warnings||
|Phone, email, social media, web form|
|If a withdrawal is possible||Potential Issues||Yes|
||Transparent fees – list of spread and commissions|
|If Active on Social Media||No||Often present on social media|
|Investor Protection||Compensation fund||Compensation fund|
The company has multiple branches, including:
- NATION FX PTY LTD, with registration number 669 876 153, an authorized representative of MGF Capital Pty Ltd (00421246), regulated by the Australian Securities & Investments Commission (ASIC), (AFSL no 001304800)
- NATIONFX LLC with registration number 1485 LLC 2021, authorized by the Mwali International Services Authority with license number T2023257, as an international brokerage.
Nation FX Broker Profile
Trading with the Nation FX MetaTrader4 platform allows traders to experience a user-friendly trading environment, with access to a wide range of financial instruments, including forex, stocks, metals, indices, energies, and futures. The NationFX broker doesn’t charge a commission. Trading conditions vary depending on which account type you choose, whether it’s Classic or Rawspread.
The Nation FX minimum deposit is $100 if you choose the Classic account and $200 for the Rawspread. Whether you are an experienced trader or just starting, the Nation FX trading firm is suitable for both.
|Trading Platform||MetaTrader 4, Webtrader|
|Account Types||Classic, Rawspread|
|Financial Instruments On Offer||
|Maximum leverage||1:300 / 1:30|
|Education or Extra tools||None|
Is Nation FX Safe To Trade With?
It took us a while to design the verdict for this trading firm, and while a top-tier authority regulates them, something was still missing. There are several benefits to trading with this company, however, the lack of transparency is not something we encourage.
Additionally, the lack of a demo account seems concerning because there is no way to test out their services before investing your hard-earned money. While we can say they are safe to trade with, we can’t say that they are a great choice for traders, as there are many more reliable alternatives, like JP Markets.
Traders Share Their Experiences
NationFX has an overall score of 3.5 on Trustpilot, based on 10 reviews. The interesting thing is that there are only 5-star and 1-star reviews, with 40% of them being unfavorable. You could say there are mixed feelings regarding this brokerage. A couple of traders report potential issues while withdrawing your funds, and the slow response of customer support.
One trader in particular complained about being locked out of their account while having a balance of $20,000. However, according to the reply from the company, the trader allegedly used EAs, which are forbidden.
Who Are the Traders They Cater To?
NationFX offers an affiliate program, where you can refer other traders and earn commission. The competitive spreads starting from 0 pips would attract any trader, especially more experienced ones. However, it’s essential to approach this cautiously and consider other factors.
Nations that this broker is mainly operating from include Romania, the United Kingdom, Germany, Italy, and Spain. Even though regulated by ASIC, this brokerage would have to comply with rules in each country they are operating from.
Deposits and Withdrawal Methods
Accepted deposit methods include Bitcoin, Ethereum, Tether, BUSD, Litecoin, Ripple, Epay, and BNB. It’s important to note that neither bank transfers nor credit/debit cards are accepted, which is a red flag. This brokerage only uses virtually untraceable payment methods, making it harder to file a dispute in case something goes wrong.
As for withdrawals, they are processed on the same payment method you used for depositing, and according to their website, there are no fees. The wait time is 1-3 business days, except for cryptocurrencies, where processing could take up to 5 business days.
Weighing the Pros and Cons
Can I Make Money While Trading Online?
Trading may be used to make money online, but doing so takes the correct tools, knowledge, and strategy. Educating yourself in the digital age has never been easier, as many brokers are providing the material for free. As for tools, we believe we can help with that.
Your ally in the trading world can be our cutting-edge AI Analysis Bot. It gathers past asset price data, examines chart data, and forecasts future prices using technical analysis, giving you important information about whether to buy or sell.
We’re providing a 14-day, no-obligation free trial to get things going. The first 100 traders who contact us will be eligible for this exclusive offer. Begin your quest to better trading right now!
What is Nation FX?
Nation FX is a Forex broker that provides traders with access to various financial markets through the MetaTrader 4 platform, offering a range of trading instruments and services.
Is Nation FX Regulated?
Nation FX is regulated by the Mwali International Services Authority and MGF Capital is regulated by ASIC.
Who Owns Nation FX?
Nation FX is a part of MGF Capital Pty Ltd, however, information about the owner is not visible to the public.