What is NPBFX?
NPBFX is an online Forex and CFDs brokerage that follows the Straight-Thorough Processing (STP) model. The broker was first established in 1996 and has garnered over 200,000 clients form around the world.
It gets most its pricing from top-tier liquidity providers such as Deutsche Bank, BNP Paribas, and HSBC, offering its client base some of the best prices available in the market.
In addition, NPBFX has won many awards over the course of its time in operation, winning titles such as the “Best STP Broker 2019” in the IAFT Awards for the third consecutive time. In 2017, during the China Forex Expo, NPBFX was given the “Best Execution Broker” award and the “Best Broker CIS” in the 2018 IAFT Awards.
NPBFX: Services and Offerings
While NPBFX offers the following services to clients residing in almost any part of the globe, some offers may differ depending on the location of the client. Furthermore, clients residing in the United States may also not be able to gain full access to its services due to legal restrictions.
• Trading Instruments
NPBFX has an adequate amount of financial instruments to trade with, offering over 38 Forex pairs, 2 Metals, 3 Commodities, and 6 Cryptocurrencies.
• Account Types
NPBFX has three account types that are suited to fit its clients’ specific trading needs and strategies. NPBFX currently has the Master account, the Expert account, and the VIP account.
The Master account requires a minimum $10 deposit where clients can trade with spreads staring from 0.8 pips with a maximum leverage of 1:1000. However, do keep in mind that spreads usually average around 1.2 pips.
The Expert account jumps far from the first choice, requiring a minimum $5,000 deposit where clients can trade with spreads staring from 0.6 pips with a maximum leverage of 1:200. However, do keep in mind that spreads usually average around 1.0 pips.
The VIP account is the highlight and flagship of NPBFX, which is prioritized for more professional traders. In this account type, clients require a minimum $50,000 deposit and can trade with spreads staring from 0.4 pips with a maximum leverage of 1:200. However, do keep in mind that spreads usually average around 0.8 pips.
In addition, NPBFX offers a demo account where clients can try out the broker’s trading platform for free in a safe and simulated trading environment.
Islamic swap-free accounts are also available for clients residing in Muslim regions.
• Bonuses and Promotions
As of writing this review, NPBFX does not have any bonuses and/or promotions available.
• Trading Platform
NPBFX mainly incorporates the MetaTrader4 (MT4) trading platform by MetaQuotes. MT4 is one of the leading trading platforms in the industry, most notable for its easy-to-use interface, lightning-quick execution time, and flexible customizability. It features real-time market quotes as well as over 80 pre-installed technical indicators, charting tools, and automated trading options, to name a few.
It is available for desktop, web browser, and mobile for iOS and Android.
• Payment Options
Payment options include credit/debit cards, bank wire transfers, and online payment services such as Neteller and Skrill. Deposits and withdrawals can also be done with cryptocurrency.
Withdrawals are usually processed within the same day, though it could take more if requests are done outside of business hours. Bank transfers usually take one to three business days to process, though some options can take a few seconds.
Bank processing fees may apply depending on which service has been chosen. Online payment services may charge additional fees for deposits or withdrawals.
Most of the details listed in this NPBFX may often be subject to change. Therefore, for updated information, please check the broker’s official website.
NPBFX: Is it safe?
As NPBFX is the trading arm of NMarkets Ltd and is based in St Vincent and the Grenadines. It is regulated by the area’s Financial Services Authority (SVGFSA) with the license number 24454 IBC 2018. Despite having a form of regulation, some professional traders may not be too keen on signing up with the broker due to the SVGFSA not being on par with getting regulation from more authoritative financial authorities such as the Financial Commission Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), or the Australian Securities and Investments Commission (ASIC).
However, NPBFX is part of the Financial Commission (FinaCom) which works to resolve disputes between the company and its clients. Here, clients who win a case against the broker can be entitled to up to €20,000 in compensation.
NPBFX is one of the oldest brokers out there, and it has managed to survive over the course of time as it continues to offer competitive spreads and lightning-quick trade executions. Its flexible payment options and live trading features are also a plus for the broker.
However, one of the biggest downsides to NPBFX is its regulation, or lack of it. While there has yet to be any evidence of the broker involved in any fraudulent behavior, it can still turn away the more professional of clients due to the reputation most offshore brokers get.
Other than that, if NPBFX seems to have the right tools and services to meet most traders’ criteria and if you’re up for it, the broker may have what you need as well.