General Information & Regulation
NicoFX, owned by Mount Nico Corp Ltd, is a European Forex broker founded by a group of financial professionals, operating in 2013 and headquartered in Cyprus. NicoFX currently holds an STP license from the Cyprus Securities and Exchange Commission (license number: 226/14) and an EU authorized representative license (license number: 672844).
Market Instruments
NicoFX offers investors a narrow variety of tradable instruments, major currency pairs, minors, exotic currency pairs, gold, silver, palladium, and platinum. Unfortunately, there are no stocks, cryptocurrencies, or commodities available.
Minimum Deposit
To meet different investors' investment needs and trading experience, NicoFX offers three trading accounts: the Standard Account (minimum deposit of $100), the Premium Account (minimum deposit of $5,000), and the VIP (minimum deposit of $10,000).
NicoFX Leverage
NicoFX , being a Cyprus-regulated broker, offers the maximum trading leverage for forex instruments is capped at 1:30 and 1:10 for metals, in line with ESMA Regulation. While for professional traders, the maximum leverage for forex trading is up to 1:200.
Spreads & Commissions
Although investors do not pay commissions when trading on the NicoFX platform, NicoFX charges spread as commission. The spreads on the instruments traded on the NicoFX platform are relatively high. The spreads start at 2.6 pips on the EURUSD for Standard Accounts, 1.8 pips on the EURUSD for Premium Accounts, and 0.8 pips on the EURUSD for VIP accounts.
NicoFX Trading Platform
NicoFX provides traders with the market-leading and widely acclaimed MT4 trading platform, MT4 Windows, and the MT4 Mobile App, available for iOS and Android versions. Traders can access the latest forex news, interactive charts, trading history, and more through MT4, an excellent all-around mobile trading solution with a user-friendly interface, instant and pending order types, built-in support, and automated trading features.
Deposit & Withdrawal
NicoFX supports traders to deposit and withdraw funds to and from their investment accounts via bank wire transfer, Visa/MasterCard credit/debit card, UnionPay, Skrill, etc. NicoFX does not charge any fees for traders to deposit and withdraw funds.
Trading Hours
With regard to trading hours, opening hours vary according to the market: Forex – Trading session begins on Sunday at 22:00 GMT and ends Friday at 22:00 GMT; Metals – Trading session begins on Sunday at 23:00 GMT and ends on Friday at 21:45 GMT.
