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NPBFX
Rating: Rated with 1.5 stars
Binary Option Programs Award
Min. Deposit
$10
Min. Investment
0.01 lot
Regulated Broker
No

NPBFX Broker Review

  1. NPBFX is an offshore, unlicensed forex broker that offers South African investors several trading accounts (including demo) and a variety of platforms including social trading and copy trading. NPBFX is a member of The Financial Commission.

    Before you get all excited and begin to invest money with NPBFX though, read our full review and honest verdict of whether this broker is actually trustworthy or just a new scam.

    NPBFX: The 3 Account Types

    Like most brokers, NPBFX offers its customers in South Africa a selection of trading accounts to choose from – each offering different features and catering to different levels of traders. The broker also offers a free demo account for beginners.

    All three accounts listed below have the following features:

    • 38 currency pairs, gold, silver, oil and natural gas
    • No commission
    • MetaTrader 4 (MT4) platform, NPBFX Trader
    • EUR/USD/RUB accepted currencies
    • Market & Instant Execution
    • STP technology
    • Automated trading with the help of expert advisors
    • Telephone dealing available
    • 24/5 customer and technical support

     

    The differences of each account are all listed below. As usual, the higher the deposit, the better trading conditions offered.

    It is interesting to note here that the starting deposit of the first real account, the Master Account, is only $10. This is substantially less than other brokers.

    Master Account –> $10 Minimum Deposit

    • Spread from 0.8 pips (average 1.2 pips)
    • Minimum trade size: 0.01 lot (1,000 units of base currency)
    • 1:1000 leverage

     

    Expert Account –> $5,000 Minimum Deposit

    • Spread from 0.6 pips (average 1.0 pips)
    • Minimum trade size: 1.0 lot (100,000 units of base currency)
    • 1:200 leverage

     

    VIP Account –> $50,000 Minimum Deposit

    • Spread from 0.4 pips (average 0.8 pips)
    • Minimum trade volume: 1.0 lot (100,000 units of base currency)
    • 1:200 leverage

     

    Demo Account

    Finally, NPBFX has a free demo account available for all registered South African traders. A demo account is perfect for complete beginners, because it allows them to practice trading entirely risk-free and before investing any real money.

    A demo account can often be used by more experienced traders as well, who like to test the platform before making their first deposit. Either way, it is always advisable to take advantage of a free demo account when available.

    Trading Platform & Assets

    As mentioned above, NPBFX has 38 currency pairs available for South African investors to trade, including gold, silver, oil and natural gas. These can be traded within three different trading platforms, depending on individual preference.

    Each NPBFX trading platform is outlined below.

    MetaTrader 4 (MT4)

    MT4 is the most popular forex trading platform to date. Its powerful structure, user-friendly interface and trading analysis is preferred by many. Due to the power behind such a platform, MT4 will need to downloaded onto your PC, laptop or mobile device. It is available on both Google Play and the App Store, as well as Windows and Mac devices.

    ZuluTrade (Social Trading)

    Besides the classic trading platforms, NPBFX gives South African investors the opportunity to trade with ZuluTrade – a social trading platform with a large community of traders.

    Social trading enables beginners to follow more experienced traders and copy their trades.

    Myfxbook AutoTrade (Copy Trading) 

    Finally, NPBFX allows South African traders to use AutoTrade, which is an automated system in which you directly copy the trades of more experienced investors.

    Warning: Even though social trading and copy trading systems may seem appealing to complete beginners, they do not guarantee successful trades. Experts make mistakes too, and you never want to be around when a mistake can cost them thousands of dollars. Trading in general always entails some degree of risk. It is better to be careful and choose the best brokers.

    NPBFX Customer Support

    South African customers can reach the NPBFX customer support team 24/5 by email, phone, live chat, or by requesting a callback on their website.

    If you wish to leave the broker some feedback, they also offer an online feedback form you can fill in.

    For users who prefer to not contact the broker directly, you can always take a look at their FAQ section from their website that answers all the main questions.

    In general, NPBFX appears to have many methods to contact their customer support team, which is very important.

    NPBFX Company Info & Payment Methods

    NPBFX is owned and operated by the company NMarkets Limited, which is located at Suite 305, Griffith Corporate Center, Beachmont, Kingstown, Saint Vincent and the Grenadines.

    The company registration number is 24454 IBC 2018 and they are registered by The Financial Services Authority of Saint Vincent and the Grenadines. NPBFX is also a member of The Financial Commission.

    The broker accepts several payment methods, from credit card (Visa, Mastercard, Maestro) to a wide range of electronic payment systems including WebMoney, Qiwi Wallet, Skrill, Yandex Money, Fasapay. They also accept bank wire transfers and local bank transfers from a variety of banks listed on their site.

    Verdict: Is NPBFX a Scam?

    NPBFX is a broker that appears to have it all, but it is important to note that this broker is not registered or licensed under any regulatory agency. A fancy site and interesting features are not enough, and as our team always likes to say: it is better to be safe than sorry when it comes to trading.

    This is why we always recommend the best, regulated and award-winning brokers like IQ Option, who have proven their professionalism throughout the years.

NPBFX articles