Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
NOZAX, a trading name of NOZAX AD, is allegedly a forex broker registered in Montenegro that claims to provide its clients with various tradable financial instruments with leverage up to 1:500 and floating spreads from 0.0 pips on the MT5 trading platform via two different live account types, as well as 24/7 customer support service. Here is the home page of this brokers official site:
As for regulation, it has been verified that NOZAX currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.40/10. Please be aware of the risk.
Market Instruments
NOZAX advertises that it offers access to 100+ trading instruments in financial markets, including forex, shares, indices, cryptocurrencies and commodities.
Account Types
Apart from demo accounts, NOZAX claims to offer two types of trading accounts, namely NZX ZERO and NZX CORE, with no minimum deposit requirement.
Leverage
The leverage provided by NOZAX is 1:500. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads & Commissions
NOZAX claims to offer spreads from 0.0 pips on the NZX ZERO account. As for the commission, there is a commission of $3.5 per lot per side on the NZX ZERO account, while no commission on the NZX CORE account.
Trading Platform Available
The platform available for trading at NOZAX is one of the most notable and preferred trading platforms the market offers - MetaTrader5. This trading terminal is highly praised by traders and brokers alike due to its ease of use and great functionality. The MT5 offers top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
NOZAX says to work with numerous means of deposit and withdrawal choices, consisting of Bank Transfer, Visa, MasterCard, Skrill, Neteller and Local Bank. The minimum deposit and withdrawal amount for Bank Transfer is $100, while no limits for the other methods. There is no deposit and withdrawal commission fees charged. As for the processing time of deposits and withdrawals, Bank Transfer takes up to 3 working days, while others are instant.
Customer Support
NOZAXs customer support can be reached by telephone: +382 20 337 453 or fill in Contact Form to get in touch. You can also follow this broker on social networks such as Twitter, Facebook, Instagram, YouTube and LinkedIn. Company address: Ankarski bulevar 12 Podgorica 81000 Montenegro.
Pros & Cons
Frequently Asked Questions (FAQs)
