Richard Montana | May 27, 2022
Table of Contents
NSBroker is a regulated trading broker that provides you with a range of online trading products and services. You can access trade in multiple asset classes including forex, indices, commodities, cryptocurrencies, precious metals and more. I think it is great how they offer clients the powerful and intuitive MetaTrader 5 platform along with a range of trading tools and educational materials for beginners via a dedicated trading academy. I found the broker has very competitive trading conditions with tight spreads, low commissions and reliable trade execution speeds. The minimum deposit of $250 is not the smallest I have seen but you can always start on a demo account if you want to get a feel for what they have to offer.
Broker Pros / Cons
- Powerful & user-friendly MetaTrader 5 platform
- Desktop, web & mobile trading platforms
- Tight spreads & low commission fees
- Hundreds of trading instruments to trade online
- Vast range of trading tools for market analysis
- Trading academy with a generous collection of educational materials
- Regulated brokerage firm
- Free demo accounts
- 24/5 customer support
- Cannot accept clients from certain countries such as the USA
- No individual stocks to trade
- No digital wallet or crypto payment options
- Minimum $250 deposit not the lowest
- No managed accounts
NSBroker is a regulated online forex and CFD trading broker. The broker offers excellent trading conditions including tight spreads and low commissions. They provide traders around the world with a choice of advanced, powerful and user-friendly trading platforms for desktop, web and mobile devices. There is a reasonable amount of around 100+ assets to trade including CFDs on forex, indices, commodities, precious metals and cryptocurrencies. One of the key things about this broker is that they can help beginners learn how to trade online with a plethora of educational content and free webinars. If you like to analyse the markets then you will be pleased to see they have an abundance of professional trading tools for conducting in-depth market analysis.
I am happy to see that the broker implements Electronic Communication Network (ECN) technology, which seeks to ensure that you can always trade under the best trading conditions, including the best available bid/ask prices from their liquidity providers (LPs) for rapid trade execution speeds at the best prices. I would always go for an ECN broker myself, simply because I use strategies that require the lowest spreads and most reliable execution speeds at all times. Generally speaking, the more LPs that a broker has, the better the prices they have access to are. This is because all of the LPs are put together into a liquidity pool and your trades matched against the best prices at any time. Is therefore logical that the more LPs that are including within this pool, the more chance you have of getting your desired price level. This is in comparison to a market maker broker who would set their own prices and have a dealing desk which can cause a conflict of interest. Therefore, I find the NSBroker trading conditions to be satisfactory.
NSBroker is subsidiary of NSFX. NSFX ltd. is regulated by the Malta Financial Services Authority (License Number IS/56519). By being regulated under the strict standards of the MFSA in Malta, the broker must comply with the highest regulatory standards. I like the fact that they ae regulated as it means that they must comply with rules and regulations that have been put in place to protect traders and investors. I would always prefer a regulated broker although some may argue that they could add another top-tier regulator. If regulation is something that is also important to you, then you might want to take a look at AvaTrade who are regulated in multiple jurisdictions.
The broker states that they provide 100% segregation of client funds through relationships with Tier 1 international banks. NSBroker also states that they provide clients with the benefit of Negative Balance Protection at their own expense. Consequently, client account balances should never become negative.
The broker contributes to the Maltese Investor Compensation Scheme, which serves as a limited safety net for certain classes of investors in the event of a participant, such as NSBroker, becoming insolvent. Clients are dealing with an EU authorised and regulated firm and hence, eligible clients can benefit from the protections provided by EU regulation.
They do not provide services to citizens of the USA and some other countries which you can find listed on the website. If your country is not accepted, please feel free to look for an alternative from our broker reviews.
NSBroker provides you with the professional and intuitive MetaTrader 5 (MT5) platform. Developed in 2000 by MetaQuotes Software Corporation, the MetaTrader 5 trading platform has fast become one of the most popular trading platforms used by millions of traders around the world. The MT5 trading platform is dynamic and user-friendly, providing traders with a powerful range of features and abundance of trading tools for conducting in-depth market analysis around the clock. I find it really easy to use and don’t think you will have any issues navigating the intuitive interface that can be customised to your preferences. You can make it as simplistic or complex as you need it to be.
MetaTrader 5 is available as a desktop trading platform for Windows and MAC. The desktop platform has the most functionality including automated trading through expert advisors (EAs). There is the MT5 web trader platform that runs directly in most modern web browsers and requires no software installation. A great feature of the web version is that it is always up to date but unfortunately it cannot run automated systems. You will need the desktop version of the platform for that.
The MT5 mobile trading apps are available for iOS and Android devices. This can be a useful online trading solution for clients who need to access their account and trade whilst on the go from anywhere in the world with an internet connection. I am a big fan of the apps as I like to be able to check my trades and see what is happening in the markets whenever I feel like it.
The MetaTrader 5 platform key features include the following:
- Real time price quotes with depth of market (DOM) pricing
- You can open 100 charts at the same time
- The charting system comes with 21 time-frames
- 40+ graphical objects
- 50+ technical indicators
- 4 scaling modes
- You can choose from 17 display styles for indicators
- Expert advisors (EAs) for automated trading
- Multi-currency strategy tester to back test EAs over historical data
- MQL editor to create customised trading tools
- MQL community to share ideas, signals and tools with other traders
- Price alert notification via SMS, email and platform pop-ups
- Available on desktop, web and mobile devices
The provided MT5 trading platform should have more than enough built-in tools to suit even the most demanding trader’s needs. On the brokers website you can find a range of technical analysis and investment strategies which can be used to help inspire trading ideas. I think the broker could improve by adding some third-party analysis software such as Autochartist and Trading Central. You can get free access to these powerful tools from other brokers including Forex.com who have both.
NSBroker have a trading academy that contains a trading glossary, trading guides, video lessons and collection of CFD & Forex Trading eBooks. There is a wide range of different topics covered including trading platforms, trading strategies, trading psychology, money management and much more.
These educational resources can help both beginner and experienced traders improve their trading skills and knowledge. This goes a long way to show that the broker cares about their clients and encourages informed trading. I am impressed with the variety although they don’t quite compare to what you will find with IronFX.
NSBroker have a generous selection of over 100+ assets to trade including CFDs, forex, indices, commodities, precious metals, cryptocurrencies and more. I think there should be enough if you are just looking to trade forex, a few commodities and some popular cryptos. However, there is a distinct lack of stock instruments. If you do wish to trade stocks, then you may want to look at TMGM as they have plenty to choose from.
NSBroker keep things fair and simple with one real trading account that has reasonable spreads starting from 0.3 pips and a commission of $8 per round lot. To be honest, these are not the lowest spreads or commissions that I have seen. TD365 should work out cheaper in the long run. The minimum deposit required is $250 and leverage for non-professional clients is capped at 1:30. if you feel $250 is too high, then Trade Nation have a $1 minimum deposit requirement instead.
Those who qualify as professional clients can apply for the professional account which gives increased leverage of up to 1:100 for certain instruments and a reduction on current margin rates, allowing you to trade with more leverage, as opposed to the limitations imposed by ESMA on retail clients.
To qualify as a professional client requires meeting 2 out of the 3 following guidelines, 1) Have a portfolio of greater than $500k (not including property or cash) 2) Have a verified history of placing significant sized positions (down to broker discretion) 3) Have worked in the capacity of a professional position related to derivatives / speculation / trading. Match any two of these requirements to qualify as a professional client.
It is important to note that some protection is removed should you qualify for a professional account as you are then classified as professional trader under ESMA regulation.
There is the option of a demo account which I think is a great way for you to practice your trading strategies on the MetaTrader 5 platform with virtual funds. I would always test a broker on demo to begin with just to get a feel for what to expect if and when I was to switch to a real account. This can be a useful way for new traders to familiarise themselves with the trading platform and services to see if the broker is suitable for your needs.
NSBroker provide support via telephone, email and 24-hour live chat. The multi-lingual support team are prompt, polite and accurate in their responses from my experience.
NSBroker have a limited variety of convenient methods for depositing and withdrawing funds from your trading account. This includes bank wire and credit/debit card. Personally, I would like to see them add some online payment processors and even support for cryptos. I prefer funding via digital wallets as it I find this a quick and easy to get access to my funds. There are so many brokers out there with plenty of funding methods, including FXPRIMUS.
Some fees may be charged when using certain payment methods. Withdrawal requests are processed within the same day or next if outside working hours. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant.
NSBroker strictly does not accept third-party payments. All funds deposited into your trading account must be under the same name as your trading account. Accounts can be opened in a few currencies USD, EUR, GBP. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. I think they could improve by adding support for some more currencies.
It is quick and easy to open a trading account. There is a short online application to complete that you can access by clicking the “open live account” button located throughout the brokers website.
Once you have completed the registration, you can open your own live trading account. You will need to upload your documents to verify and activate your account. This is a normal part of the KYC procedures. After a member of the brokers account team have verified your account, you can log in to your account and make a deposit to start trading online with over 250 trading tools and 100+ trading assets.
|Broker Features||AvaTrade||IG||IC Markets|
|Regulated||ASIC, BVI, CBI, FFAJ, JFSA, FSCA, IIROC, ADGM FRSA||FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF||ASIC, CySEC, FSA, SCB|
|Country||Australia, Ireland, South Africa, Japan, British Virgin Islands||Australia, UK, USA, Switzerland, UAE, Singapore, Japan||Australia, Seychelles, Bahamas, Cyprus|
|Min. Deposit||Min $250 Deposit||Min $100 Deposit||Min $200 Deposit|
|Commission||From $0||From $0||From $0|
|Instruments||Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, CFDs, ETFs||Forex, Commodities, Stocks, Shares, Indices, Cryptocurrencies, Metals, Energies, Options, Bonds, ETFs, CFDs||Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs|
|Platforms||MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade, Web, Mobile||MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API, Web, Mobile||MetaTrader 4, MetaTrader 5, cTrader, Web, Mobile|
|Type||Market Maker, STP||STP, ECN, DMA||ECN|
|Funding||Wire Transfer, Credit/Debit Card, Paypal, WebMoney, Neteller, Skrill||Wire Transfer, Credit/Debit Cards, PayPal||Wire Transfer, Credit Card, Debit Card, WebMoney, Neteller, PayPal, Skrill, FasaPay, UnionPay, Qiwi, Bpay, Poli|
|Visit Broker||Visit Broker||Visit Broker||Visit Broker|
Overall, I like how NSBroker is a regulated brokerage that is keeping up the accompanying three pillars of the company which are: Innovative Trading Platforms, Innovative Trading Tools, & Excellent Trading Conditions to the highest benchmarks. This helps to enable them to provide very good online trading services to a global clientele. You can trade on the powerful yet user-friendly MT5 platforms for all of your devices and conduct professional market analysis with a range of trading tools to choose from. There are hundreds of trading instruments available with tight spreads, low commission fees and fast execution speeds. There is also a decent amount of educational materials to assist beginners along with demo accounts and 24/5 client support. Despite the positives, I feel they could improve by adding some individual stock instruments, more account types and additional funding options. If you are just looking to trade forex, cryptos and commodities with favourable conditions, they are certainly worth consideration but IC Markets could be a good alternative.