NordFX provides various types of trading accounts both for beginners in the Forex market and for experienced traders. The choice of account types depends on your goals, experience, the deposit amount and, possibly, other individual factors. You can get acquainted with the trading conditions of the proposed types of accounts in the "Accounts" tab on the company website www.nordfx.com and then register the appropriate type of account.
Trading accounts are available in US dollars (USD) or Euro (EUR).
To open a trading account, follow these steps:
Demo accounts are free of charge and have no restrictions as for time validity. It is necessary to consider that if the demo account is inactive for more than 14 days, it will be removed. You can open a new demo account in this case.
You can register a demo account in the following ways:
Your username and password are used for authentication in the trading terminal, as well as in the Trader's Cabinet, where you can make non-trading operations on the account, including funds deposit and withdrawal.
The investor’s password is used to access the trader's trading account, but only to view the account status and the quotes, without the right to perform trade operations. It can be used by investors to watch the state of the account in the trading terminal.
The phone password is the code word that is used to identify the trader when contacting the Customer Support.
Your personal PIN code is used to confirm transactions on funds withdrawal from your trading account. All requests for withdrawals, not confirmed by the PIN code, will be automatically rejected. Please note that the PIN code is displayed only on the registration page after opening a trading account and is not sent by e-mail together with the rest of the account data. You need to keep the PIN code on your own.
When registering a trading account, the documents are not required. However, in some cases a verification of accounts is required, for this purpose you need to provide 2 documents confirming the identity and the address specified when registering the trading account.
The account verification is the process of confirming the client's identity. To verify the account, you need to download scans of two documents in the tab "Upload documents" in the Trader's Cabinet:
Verification of documents is carried out within 1-3 business days.
Verification is required in the following cases:
MT5 offers a real account "Standard-MT5» (https://nordfxchinese.com/MetaTrader_5.html). To open this account:
The account data can be changed when you contact Customer Support as follows:
The trader's and investor's passwords can be changed by you in the MT4 trading terminal. This requires the current trader's password. Sign in to the account in the MT4 terminal, go to "Tools" - "Settings" (or use the key combination Ctrl + O), click on the tab "Server" and click "Change." In the window that appears, you need to specify the current trader password (master password), select the type of the password to be changed - the trader's or the investor's - and to enter a new password twice.
The phone password and the PIN code can only be changed by a request to the Customer Service. To do so, send a request to email email@example.com, specify the account number and attach the scans of two documents certifying the name and address in the account registration data.
The account type cannot be changed. You can open a new account of another type. The account currency cannot be changed either. You can register a new account in another currency (USD or EUR).
The trader's password is stored in encrypted form and, unfortunately, cannot be restored. You can only create a new password. To do this, you must write to email firstname.lastname@example.org and declare that you lost your trader's password and want to set a new one. The request should also include your trading account number, the phone password and you need to attach the scans of two documents confirming the name and address specified in the registration of the trading account. After successful verification of the data a new trader's password will be sent to your e-mail.
In order to restore the phone password, you need to write to email email@example.com and declare that you lost the phone password, and want to set a new one. The request should also include your trading account number, and you need to attach the scans of two documents confirming the name and address specified in the registration of the trading account. After successful verification of the data a new phone password will be sent to your e-mail.
The PIN code is stored in an encrypted form and cannot be recovered. To obtain a new PIN code, you must send a request to e-mail firstname.lastname@example.org. In the application, specify your trading account number and attach the scans of two documents:
After successful verification of the data the new PIN-code will be sent to your e-mail.
When choosing the leverage, you need to consider the following - the higher the leverage, the less the amount of the margin when you open a transaction, and vice versa. The leverage helps to determine the most optimal trading strategy for you - a lower leverage reduces the potential losses in the event of an unfavourable situation on the market; a higher leverage increases the risk, but at the same time it increases profits.
Each quotation contains information on two prices: Bid (Bid) - the price at which orders to sell are executed, and Ask (Ask) - the price at which orders to buy are executed. The difference between these two prices is called spread.
The historical chart only shows only the Bid price. You should take into account the impact of the spread when the orders are executed.
You can also contact Customer Support at email@example.com for clarification. In your request, state the account number, the number (or numbers) of transactions, the phone password, and the situation in question.
a) Most likely, there was a price gap.
It occurs in two possible cases:
In case of price gaps the order execution is as follows:
b) There happened a so-called "Spike" or a non-market quotation. It is characterized by a significant price gap, return of the price for a short period of time to the initial level with a price gap, the lack of rapid price dynamics before the appearance of this quotation. Transactions at non-market quotations are not executed on trading accounts, and if executed, they are cancelled, and the spike is removed from the archive of quotations. The transactions are not cancelled at training accounts.
A forced closing of orders may occur in the following cases:
The Stop Out is executed at the current market price in the order of the common queue of orders from customers. A forced closing of positions is accompanied by a corresponding record in the server log-file with the comment «Stop Out» or «SO». The mark «SO» is also put in the comments to the order in the terminal in the "Trade" tab.
The levels of Margin Call and Stop Out are stated in the account types specifications on the company website www.nordfx.com.
The Margin Level is expressed as a percentage ratio of the expression of free funds (equity) to the necessary margin (margin). The Margin level is calculated as follows: equity / margin * 100% where equity is the current account balance (balance + floating profit minus floating losses); margin is the amount of margin for an open transaction.
Contact the Customer Support at firstname.lastname@example.org and request to reset the account balance. Be sure to state the trading account number.
After a demo account is opened, the password to the MetaTrader is sent to the MetaTrader internal mail. Please Check if the message with the password is still in your Mailbox ( "Terminal" window / tab "Mailbox"). If you cannot find your password in your MetaTrader mailbox and cannot remember it, you can contact the Customer Support, your password will be sent to the email address, which was used when opening a demo account.