Noor Capital Review – Who is Behind This Broker?
Noor Capital Review, Established in 2005 in Abu Dhabi, owning two brokerage licenses from jurisdictional bodies certainly makes Noor Capital an attractive investment playground for local retail traders.
Noor Capital P.S.C., a private joint stock company, has been regulated by the Department of Economic Development Abu Dhabi, and the Securities and Commodities Authority (SCA). And while this makes them highly reliable to the UAE customers and regional clientele, they still lack a Tier 1 license to attract traders from heavily regulated areas.
In this Noor Capital review, we will discuss the regulations, security, and other benefits and potential disadvantages of trading with this broker, so read it entirely before investing.
|Broker Status:||Regulated Broker|
|Owner:||Noor Capital P.S.C.|
|Regulated by:||SCA (Abu Dhabi), DED (Abu Dhabi)|
|Trading Instruments:||Forex, Precious metals, CFDs on energies, CFDs on indices, CFDs on shares|
|Trading Platforms:||MT4, GTN|
|Free Demo Account:||Yes|
|Accepts US clients:||N/A|
How Are You Protected at Noor Capital?
Noor Capital, being based in the UAE (Abu Dhabi), has been regulated by two financial institutions in the area. This is a solid confirmation of the broker being reliable enough for the local retail traders and customers from the neighboring countries.
For example, before obtaining a license, the Noor Capital parent company needed to invest at least 1 000 000 Dirhams, which is roughly about 250 000 USD. Still a very low requirement in comparison to the UK, EU, and US, but it’s still better than no certificate at all. Noor Capital still operates under the regulatory framework the two institutions have assigned them.
What we’d like to do is compare some basic trading conditions to the ones required in heavily regulated areas. For example, Noor Capital does offer segregation of funds through separate bank accounts. Some other trading parameters aren’t limited like in the EU, UK, and US.
We mean leverage, of course. While Noor Capital offers leverage of up to 1:400, other zones have it capped at 1:30 or 1:50 at most. This makes trading extremely risky. But that shouldn’t be a problem if you’re a professional trader with functional risk-management strategies. Another problem is not applying for negative balance protection as another method for lowering the trading risk the customers are exposed to.
The broker may not provide all the advantages pertaining to regulations and the security of funds in the same class as more strictly regulated brokers. All in all, though, this broker is well regulated to offer reliable service in their area of operation and closest countries abroad. If you’re an international client, beware of the dangers of trading unprotected by any regulatory law.
Trading Platforms Overview
Noor Capital guarantees instant access to the global market via the one and only – MetaTrader 4. Although an industry leader for over 15 years, MT4 has managed to keep its rightful place as one of the most preferred trading software ever.
The reason for that is the outstanding features that increase your speed and competence compared to other traders. Some of the advanced benefits of choosing MT4 over other distributions are interactive charts, orders, trading positions, convenience, and trading flexibility.
Noor Capital allows you to download a desktop version of MT4 compatible with Windows and Mac. Or you could just use the web terminal or the mobile app on your Android or iPhone.
Noor Capital Stocks Trading Platform (GTN) is available on the web and in the form of a proprietary mobile app. This is a novelty that the broker has introduced as a means of trading stocks from anywhere and receiving important alerts, news, and reports.
Account Types Available at Noor Capital
Perhaps we could say that the account choices at the broker aren’t as rich as we expected them to be. Besides the basic live and Demo account, new customers could choose to open an individual or institutional account.
Noor Capital does, however, have online forms such as the agreement and application form to preview online before account registration.
A major flaw considering the organization of the account opening process is the fact that Noor Capital does not reveal the minimum deposit requirement. Another one is having to apply for an account. You cannot just fill your data in and have the account registered immediately. This rule is also in power concerning the Demo account.
Noor Capital Trading Instruments
Financial products available for buying and selling at Noor Capital are organized into the following asset groups:
- Forex pairs (EUR/USD, EUR/GBP, USD/CAD, EUR/CHF, USD/JPY)
- Precious metals (Silver, Gold)
- CFDs on energies (US Oil, Natural Gas)
- CFDs on indices (DJ30, S&P 500, NASDAQ 100, DAX 30, FTSE 100, CAC 40)
- CFDs on shares (Allianz, Peugeot, Vivendi, Adidas, Tesla, Boeing)
Noor Capital Deposits and Withdrawals
As far as safe and fast account funding goes, Noor Capital offers the following depositing methods:
- Bank wire transfer – takes 1 to 3 business days to complete
- Credit/ debit cards – instant and safest
We find it a bit suspicious that the firm doesn’t clearly state the minimum deposit amount that is required of the trader to pay before proceeding to invest. Additionally, the company doesn’t state anywhere what the exact deposit and withdrawal conditions are.
Except for the Terms and Conditions, other policies are not uploaded to the site. It’s quite shady that such a supposedly respected and preferred broker is giving insufficient info related to the money flow.
Noor Capital Fees and Spread
In terms of pricing, the broker wouldn’t look overly competitive compared to regulated brokers operating on a global scale. First off, starting spreads on EUR/USD are 2 pips. This is higher than the industry standard, which is usually between 1.1 and 1.5 pips.
Pay special attention to the Terms and Conditions which says that the company may charge its clients various fees, including without limitation commissions, markups, and markdowns. Without clearly stating how much they sum up, the broker does charge transaction fees, transfer and cancellation charges, and inactive account fees. The broker also reserves the right to adjust its charges, commissions, expenses, and/or fees without notice.
As a part of the Trading Tools offered at Noor Capital, traders could use Webinars. Advertised as a most efficient way of learning from professional traders, you could use these as a tool for perfecting your own knowledge and techniques. We’re unsure if the broker charges the presence but you have to become a client to have access to these.
Next, you can use Daily market updates. These cover the news and information that will help you plan your investment with confidence and lower the risks of loss.
Another way of connecting with Forex experts is through Technical Analysis, also available in the Trading Tools section. Its concrete purpose is to help traders identify investment opportunities.
Although these tools could come in handy at certain times, beginners at FX will have a hard time learning with the broker. While retail and advanced traders have the opportunity to communicate with experts and expand their knowledge, starting off at Noor Capital isn’t made easier through the versatile learning material.
When you have a question or inquiry related to Noor Capital’s products or services, you can get in touch with the support agents through the following:
- Email [email protected] for general inquiries. Customer service is available at [email protected] while onboarding questions are submitted to [email protected].
- Phone numbers available are +97142795400 and +97142795400
- By filling in an online form with your contact information, you could arrange a callback
- Live chat at the site is a direct form of chatting up a support agent. However, you first have to input your contact info.
Noor Capital Overall Summary
Although regulated in their area of origin, Noor Capital still has a long way to go before being reliable enough for EU and UK customers. At the time being, their services in these areas are not regulated. The fact that they own two licenses in their mother country only means they’re safe enough for investments made by the traders residing in the UAE and surrounding area.
We would advise caution before making serious investments with this broker that keeps their transactions under a veil of secrets. Without displaying concrete conditions regulating the funding process, we can’t label them as secure as other more popular brokerages.
FAQs About LCG London Capital GroupBroker
What Are Noor Capital Fees?
Starting spreads at EUR/USD are 2 pips. Noor Capital declares to charge various fees and commissions but doesn’t specify them.
Is Noor Capital a Regulated Broker?
Noor Capital is regulated in their jurisdiction by the Department of Economic Development Abu Dhabi, and the Securities and Commodities Authority (SCA).
What Is the Minimum Deposit at Noor Capital?
The broker does not reveal the minimum amount of money they expect you to invest to become their customer.
Does Noor Capital Offer Demo Account?
Yes, you can request a Demo account that doesn’t require real cash for trading.
What Trading Accounts Are Available at Noor Capital?
There’s the live and demo account. Each can be individual or corporate. Islamic account is also included.