An overview of the history of Broker NYX
Studying the history and past of a broker is an important factor in being chosen by traders. Therefore, to better comprehend a broker, it is necessary to check its service history. And finally, choose the most reliable forex NYX broker from the point of view of traders.
Like the other brokers that we have reviewed so far, let’s notice what path NYX Broker has traveled to date. At the time this article is being written, this broker has been operating for 5 years. And is engaged in providing services. The head office of this forex NYX broker is located in Istanbul, Turkey, and has a strong infrastructure.
NYX has branches in some countries, such as Dubai, Erbil, and Azerbaijan, and also has representatives in the Middle east. One of the good features of this broker is that it operates based on new technologies and is a leader in delivering new services
We can refer to the PAM accounts and copy the trading system specific to this broker.
An NYX broker also has experience providing a white label for other brokers in his portfolio. In the following, we will say more about the NYX agency.
Does NYX broker regulate?
Before we see if the NYX brokerage is regulated or not? A little bit of regulation is not bad.
let’s say Regulations are licenses that brokers receive from reputable financial institutions and organizations. These institutions and bodies that are dependent on the government are called regulators and are responsible for monitoring and financial review of brokers.
Being regulated by a broker means that the capital of that broker’s clients is insured. (in case of bankruptcy, etc., brokers are obliged to ensure the client’s capital of up to 20,000 euros). For example, separating the broker’s assets from the client’s trading accounts increases. The fact that the broker is regulated in a way assures the traders.
But let’s go back to the regulation of the NYX broker. This broker does not have the main regulation. But it has FSB or (brokerage and financial services) license. And does not provide services to clients whose country is no other than FATF under the regulation.
NYX Broker IB Plan
Regarding the kinds of accounts suggested by the NYX broker, we must say that in this consideration, this broker has acted generously and offers various and diverse accounts to its customers, and in fact, you as a trader of any type can Find an account in Broker NYX that serves you, and this is regarded a strong point and a good component of this brokerage. In this section, we examine the accounts of this broker, which consists of 6 different types of accounts:
Pay attention to the following table about NYX brokerage accounts.
One of the other services of NYX Broker that can be mentioned seriously and is more important for professionals is providing a dedicated top account. In this way, regarding that, you are a trader who introduces numerous people to the broker, or you are someone who has your expert and you need a special account for the robot to work properly. And if you are a teacher who teaches a specific strategy to all your students, you can have a special account with your strategy.
Does NYX support Meta trader4 or Meta trader5?
Traders use the platform provided by the broker for the desired product.
Every broker uses a type of platform to execute transactions. Metatrader4 and 5 are the most popular platforms offered by brokers.
Metatrader5 is the newer and updated version of Metatrader4 and has higher accuracy. Let us talk a little about these two platforms. We can say that traders use MetaTrader4 in situations where they do not have access to MetaTrader5.
Because some tools and indicators are written for MetaTrader4 and if we have the formula in version 5, we can implement it in MetaTrader5, otherwise we have to use MetaTrader4.
Another condition for using MetaTrader5 is that the trading item you want is not available in MetaTrader4. In this case, version 5 should be used. For example, you cannot trade digital currencies in MetaTrader4.
And there are many other differences between these two platforms that are not in the scope of this article. And will be discussed in another article.
NYX broker also uses the most up-to-date Metatrader5 platform to provide services to its customers.
NYX broker deposit and withdrawal methods
Because provides services to a high percentage of traders. It has tried to adapt its services based on their needs, and therefore the methods for depositing and withdrawing are very convenient and accessible to all users. different countries. Methods such as cash deposit and withdrawal, bank transfer, rial deposit, as well as Top Change, Web Money, Tether, and other digital currencies.
Each of the above methods has differences in cases such as the deposit amount and withdrawal fee. And the duration of the transaction. Traders who intend to open an account at Broker NYX should pay attention to the method of depositing and withdrawing at the very beginning and choose the method that is suitable for them so that they do not face any problems in terms of transaction time during the time of depositing and withdrawing.
According to the observations, deposits and withdrawals of Broker NYX are made on all days of the week and at all hours of the day.
The best spread and commission in Broker NYX
The debate of spread and commission has always been important for traders. Both of these objects are transaction costs and are also essential items to consider when choosing a broker. Is the spread better or the commission? considerable point is that it depends on the trader and the type of trading account.
For example, a scalper works because he remains in a trading position for a moment or short time (generally less than 5 minutes), so it is not beneficial for them to pay a high spread, but he pays the commission, that’s why ECN accounts are usually suitable for this type. From traders, for example, the spread of NYX broker commissions for ECN accounts ranges from 2.0 pips and floats.
Also, the VIP ECN account is floating from 1.0 pips. You can see the types of spreads by looking at the above table, which is about the kinds of NYX broker accounts.
Regarding NYX broker commissions, let’s say that it is different based on transaction item and account type.
Considering that the NYX broker has completed the type of demo and real accounts, you can open and control the demo account from which account to test.
Most leveraged forex at NYX
New traders have always been excited and pleased about the benefit of leverages in forex because the power it gives to their trades increases their opportunities of entering trading the market and earning more profits from the market. Of course, as we all know, using Without planning and only considering the size of the leverage, can cause risks to our capital, so always keep in mind to use leverage carefully in your trading.
NYX broker has considered different leverages for the diverse accounts. It offers, for example, the standard account is 1:500, and other accounts such as professional VIP PRO, VIP ECN, and ECN has the leverage of 1:300.
But the maximum leverage that can be found in the NYX broker is 1:2000 in the Custom account.
Support in Broker NYX
In the continuation of the review of diverse aspects of Broker NYX, in this section, we will discuss the support of Broker NYX. This is always one of the significant features that should be taken into account when reviewing a broker.
About the NYX broker, we must say that this broker has good support, especially for all middle Easterners who have opened an account with this broker. There is 24-hour financial and technical support on all days of the week.
At any time and hour of the day, if the trader has any questions or problems, they can get the answer to their question through the online chat. A good feature that this broker has provided to its users is strong support in the technical field, for example, if the user is in a trading position and has a problem, he can contact the support team to solve the problem and inquire about the cause of the problem. Supporters are not robots and a person or persons are responsible for handling and answering users’ questions.
The weakness and strengths of NYX broker
In this section, we will take a look at the strengths and weaknesses of NYX Broker. Having offices in different countries, offering white label, 24-hour support, offering copy trade, and having an Islamic account is one of the strengths of this broker slogan it has always adhered to. Instant deposit and withdrawal.
Recently, half-and-half videos have been published against this broker, if the reality is something else, unfortunately, even though it can be seen that they reserve the right to defend the NYX broker. They never contacted this broker to check the authenticity and we have not been informed about it. We at Myitfa followed up on these worries created on the sites and channels and checked them with NYX.
In this case, Broker NYX’s response was to prevent money laundering. Where people only open accounts to make deposits and withdrawals, is obliged to set its own rules.
Therefore, the shares should present be accompanied by the presentation of documents and evidence and be fair. By hearing the voices of both sides.
This broker also has some weaknesses, one of which is the lack of main regulation, and the other point is that the history of activity is relatively less than other brokers.
Maybe some of you are not familiar with the name of this broker. But after discussions, we realized that the NYX broker is more active due to providing services in the field of white label and specialized financial market software. But eventually, you will connect to this broker.
Another problem that users notice with this broker is the relatively high payment fees of this broker. Maybe if we have a more professional look at these costs, we will realize that when the brokers who are connected to the main banks pay a lot of costs for the services they provide. And consequently, this also has an impact on users’ expenses and maybe knowing the reason for these expenses, which is the connection to the real market, will solve users’ problems.
Brokers always organize various festivals in the form of bonuses and competitions as well as incentive plans to attract more customers. Broker NYX has also had various festivals to attract the audience. Like all kinds of bonuses and credits, for example, the welcome bonus of Broker NYX is for new users, and with a minimum deposit of $10, a $30 gift bonus is automatically added to their account. The deadline for using this bonus is 30 days, another good feature is the ability to withdraw profits.
Also, NYX Broker is holding the Forex Golden Tournament.
In this article, we examined NYX brokers from various aspects. This broker has been active for 5 years and is a full STP broker. And offers services such as white label, copy trade PAM, and MAM accounts in its portfolio.
And its slogan has always been that it is connected to the market, and it has not been proven otherwise. Broker NYX has announced that better things are coming and has promised to build new software. Like all other brokers, this broker has its strengths and weaknesses, and we know that even the best brokers in the world are not without flaws.
But currently, considering all the problems that Middle eastern traders who are interested in the forex market and the field of trading are struggling with, Broker NYX has provided acceptable options for Middle eastern.