What is Forex?
FOREX is the industry or abbreviated way of referring to FOReign EXchange. FOREX is often also referred to as FX.
In its most basic definition, foreign exchange is the exchange or conversion of one country’s currency for another – for example, US Dollars (USD) for British Pounds (GBP). From a trading context, FOREX refers to the foreign exchange market – a huge, liquid, global market where currencies are traded almost 24 hours a day, 5 days a week.
What is Forex Trading?
FOREX trading involves the buying and selling of foreign exchange contracts with the intent of profiting from movements in the FX market.
If a trader believes that a currency will appreciate against another currency – for example, the USD against the EUR; they can purchase or go “long” a USD/EUR contract. If the trader believes the USD will depreciate against the USD, they can sell or go “short” a USD/EUR contract to profit from the fall in the USD.
“Shorting” involves selling a contract at a given price with the anticipation of buying it back at a lower price and profiting from the move. It is the opposite of going “long,” where a trader buys low looking to sell high just in the reverse order.
It is this ability to trade from “both sides” – long and short; that enables traders to profit from FX movements irrespective of the direction of the market.
Do you provide Forex training?
As a regulated forex broker we are legally forbidden from providing trading strategy training. However, our Client Support team provides valuable training and support in the optimal use of our trading platforms. Similarly, the Trading Examples section of the website provides some examples of trading strategies.
Who is NSFX Ltd.?
NSFX Ltd. was established in 2012 by a group of finance industry professionals with a deep understanding of financial markets and the tools traders require to profit in these markets.
NSFX is a regulated online trading brokerage, servicing traders and institutions globally. The company’s technological infrastructure was built with traders in mind and provides everything necessary to excel in volatile markets – robustness, accuracy, an easy to use and intuitive interface and lightning fast order execution.
NSFX’s proprietary platform coupled with its strong connections with Tier 1 banks and liquidity providers ensures an unparalleled trading experience.
What are the implications of NSFX being a regulated broker?
As a regulated broker, NSFX must comply with legal requirements to ensure that client monies are protected and that all parts of its business comply with regulations that were implemented to safeguard the client from illegal or unethical conduct. Consequently, NSFX clients can trade securely, safe in the knowledge that NSFX is ALWAYS acting in their best interests.
Which trading platforms does NSFX offer?
NSFX Ltd. offers desktop, Web and mobile versions of the popular MetaTrader4 and JForex trading platforms.
How do I open an account?
There are two types of account that can be opened, a Live Account and a Practice Account. Simply click the Accounts menu and select the type of account you would like to open. The registration process is quick and easy.
Can I practice before I trade with real money?
Yes. When you open a Practice Account, the account is credited with $100,000 in virtual money so you can begin practicing your trading strategies as soon as you register.
How much leverage do I have on my account?
NSFX provides 1:200 leverage on trading products.
How do I withdraw funds? how soon after requesting a withdrawal will I receive the funds?
Simply click Withdrawal Request on the MyNSFX Dashboard and type the amount you wish to withdraw. Once the request has been made, NSFX will process the withdrawal within 1 business day.
How do I update my personal account information?
Once logged into MyNSFX, you can update your personal details quickly and easily by clicking on Personal Details in the menu.
How do I make a deposit?
Clients are able to deposit funds directly through the MyNSFX console or via telephone with their Client Account Manager. Deposits can be made in USD, EUR or GBP and via WIRE TRANSFER, Visa/MasterCard, Maestro, Visa, American Express, Skrill or Fast Bank Transfer.
How soon after making a deposit can I begin to trade?
In all cases other than Wire Transfer, you can begin to trade immediately. Wire transfer takes between 2-3 days.
How do I retrieve my forgotten password?
Click the Forgot Password? link and follow the prompts.
Do I have access to support?
Yes. NSFX prides itself on its outstanding, personal technical support. Live Support is available during trading hours. When markets are closed, clients receive email support.
What statistics are available?
Full trading statistics are available from within the trading platform and in the reports area of MyNSFX.
How do I close my NSFX account?
To close an account, contact your support representative or email@example.com.