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NordFX in India — review, licence and costs
Score (6 of 6 axes scored)
ranked against full-basis brokers
- Reviews25%70
- Round-turn cost20%90
- Safety20%0
- Payouts15%80
- Track record10%no data
- Platforms10%50
Numbered by weight: axis 1 counts for most.
Key facts (6 facts)
- Onboarding entity
- Offshore NordFX LTD (Saint Lucia, reg 2023-00470); no India entity.
- Founded
- 2008
- Retail leverage
- 1000IN
- Round turn
- 7 USDIN
- Currencies
- USD/EUR (and crypto); no INR base or INR pairs.
- Swap-free account
- yes
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Licence check
Open an account with NordFXThe broker's own website. Not a partner link — we earn nothing from it.
Who actually onboards you
- Entity that onboards India residents
- Offshore NordFX LTD (Saint Lucia, reg 2023-00470); no India entity.
- Local standing
- Unregulated in India; offshore only. Retail overseas FX margin trading restricted under FEMA.
- Licence as the register states it
- No SEBI/RBI licence. On RBI alert list (Nov 2025) as unauthorised platform.
- Leverage for this entity
- Up to 1:1000.
- The firm behind it
- NordFX group founded 2008 (CIS roots); operates via offshore entities.
- What we hold against it
- RBI alert-listed; offshore only; withdrawal complaints reported; WikiFX low trust.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Indian residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youUnregulated in India; offshore only. Retail overseas FX margin trading restricted under FEMA.
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against India market median(priced from 65 of 90)
Medians run over the 65 of 90 brokers that publish a price for India, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: MT4 Pro (min $10), MT5 Pro ($50), MT4 Zero ($100), MT5 Zero ($200), demo. The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Where NordFX sits in the India base(90 brokers)
Round-turn cost, USD (65 of 90 priced)
Median 7 USD · range 2-18 · this broker 7 USD · 25 of 90 brokers do not publish it
Minimum deposit, USD (16 of 90 priced)
Median 15 USD · range 0-1000 · this broker 10 USD · 74 of 90 brokers do not publish it
Retail leverage (49 of 90 with a India figure)
Median 1:500 · range 20-5000 · this broker 1:1000 · 41 of 90 brokers do not publish it
Withdrawal time published (90 brokers)
Deposit and withdrawal methods (1 methods · 0 local rails)
Local Indian deposit methods historically offered via PSPs;
- Account currency
- USD/EUR (and crypto); no INR base or INR pairs.
- Fee declared
- 0 of 0 methods
- Withdrawal back to
- the funding method
Where it does not serve(15 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(2 platforms)
- MT4
- MT5
| Class | Min spread | Leverage |
|---|---|---|
| MT4 | 10 | 1000IN |
| MT5 | 10 | 1000IN |
138 further account types are named by their brokers but publish none of these figures, so they are not in the comparison: Eightcap Standard, Eightcap Raw, Fusion Markets Classic account, Pepperstone Standard, Pepperstone no minimum deposit, Trade Nation Two live tiers - lower-leverage and 132 more.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.4 | 73 |
Share of reviewers in India: — The platform does not publish it.
Pros and cons(4 for and 3 against, each tied to a figure on this page)
- Min deposit 10 USD, under the India median 15
- Withdrawal in 24 h, one of 74 of 90 brokers here that publish a time
- Swap-free account available
- Round-turn cost 90 of 100, its strongest of 6 scored axes
- No India authorisation on file: the entity that onboards you is licensed elsewhere
- A regulator warning is on file against this broker
- Safety 0 of 100, its weakest of 6 scored axes
Alternatives in India(6 of 90 scored in India)
- Round turn, USD
- 6IN
- Min deposit, USD
- 10IN
- Leverage
- 2000IN
- Rank in this country
- #5
- Round turn, USD
- 6IN
- Min deposit, USD
- 0 groupIN
- Leverage
- 2000IN
- Rank in this country
- #8
- Round turn, USD
- 6IN
- Min deposit, USD
- 10IN
- Leverage
- 3000IN
- Rank in this country
- #11
- Round turn, USD
- 9IN
- Min deposit, USD
- 25 groupIN
- Leverage
- 1000IN
- Rank in this country
- #12
- Round turn, USD
- 9IN
- Min deposit, USD
- 10IN
- Leverage
- 500IN
- Rank in this country
- #13
- Round turn, USD
- 4IN
- Rank in this country
- #4
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a India score. Full methodology
| Axis | Weight | What is measured | NordFX |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 70 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 90 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 0 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 80 |
| Track record | 10% | Years since the firm was founded, from its own filings | 90 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 50 |
FAQ
- Does NordFX accept residents of India?
- No. Unregulated in India; offshore only. Retail overseas FX margin trading restricted under FEMA. Onboarding entity: Offshore NordFX LTD (Saint Lucia, reg 2023-00470); no India entity.
- Is NordFX licensed to serve clients in India?
- No SEBI/RBI licence. On RBI alert list (Nov 2025) as unauthorised platform. Checked on 09.07.2026.
- How much does one round turn cost at NordFX?
- About 7.0 USD per standard lot on EUR/USD. The median across brokers measured for India is 7.0 USD.
- What leverage does NordFX offer to retail clients in India?
- Up to 1:1000. leverageGeo: Up to 1:1000.
- Which trading platforms does NordFX support?
- MT4, MT5. Instruments: FX, crypto, gold/silver, indices, oil, stocks.
- How can I withdraw money from NordFX in India?
- Local Indian deposit methods historically offered via PSPs; no INR bank withdrawal. Specifics not verified at review.
- What account types does NordFX offer?
- MT4 Pro (min $10), MT5 Pro ($50), MT4 Zero ($100), MT5 Zero ($200); demo.
- Does NordFX offer a swap-free (Islamic) account?
- Yes. NordFX offers a swap-free (Islamic) account to India residents.
Cost calculator (median of 65 priced of 90)
EURUSD round turns at the prices captured 01.10.2026. Shown in USD only: we do not publish a INR conversion because the exchange rate is not part of our data.