Note: FX-Nices official site - https://fx-nice.net/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
FX-Nice Information
FX-Nice is an unregulated brokerage firm that offers a variety of trading accounts with different deposit requirements and trading conditions. The accounts differ in terms of spreads, commissions, and available instruments such as Forex, Energy, Metals, and Crypto via theMetaTrader 5 (MT5) platform.
Pros & Cons
Pros
High Leverage: FX-Nice offers a high leverage ratio of up to 1:500, allowing traders to enter trades of significantly larger value than the capital they possess. Although this can lead to increased profits, it can also amplify potential losses.
Demo accounts available: FX-Nice offers demo accounts, allowing users to practice trading without risking real money. This can be beneficial for beginners or those who want to test the platform.
Multiple account types: FX-Nice offers three live account types, providing users with the flexibility to choose an account that suits their trading needs.
Cons
No Regulation: FX-Nice is not regulated, which increases risks for clients as the company doesn't have to adhere to any established financial standards nor offer protections typically required by financial regulators.
Commission Charged: Unlike some brokers that offer commission-free trading, FX-Nice charges a a commission of $6 per lot traded in mini account, which renders its services less competitive in comparison.
Official Website Unavailable: Fx-Nice's official website is currently unavailable which is unable to provide any further information.
Is FX-Nice Legit？
- Regulatory Sight: Fx-Nice is currently not regulated by any recognized financial authority. Traders should exercise caution and conduct thorough research before engaging with Fx-Nice.
- User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.
- Security Measures: So far we haven't found any information about the security measures for this broker.
Market Instruments
FX-Nice provides a range of market instruments for trading, including Forex, Energy, Metals, and Cryptocurrencies.
The Forex market allows traders to speculate on the exchange rates of various currency pairs.
Energy trading involves commodities such as oil and natural gas, allowing investors to participate in the price movements of these crucial energy resources.
Metals trading involves precious metals like gold and silver, which are often sought after as safe-haven assets or for industrial purposes.
Additionally, FX-Nice offers cryptocurrency trading for investors interested in digital currencies like Bitcoin and Ethereum.
Account Types (Min. Deposit, Leverage, Spreads)
FX-Nice offers a demo account and three types of live trading accounts: Mini, Standard, and Premium.
The Mini Account requires a minimum deposit of $100, has spreads starting from 3 pips, and uses ECN execution with a $6 commission per lot traded. The account offers leverage up to 1:500, trade sizes starting from 0.01 lots, and allows for scalping and hedging.
The Standard Account, with a minimum deposit of $2,000, has spreads starting from 2 pips and no additional commission, while the Premium Account, requiring a deposit of $5,000, has spreads starting from 1 pip.
Both Standard and Premium accounts also use ECN execution, offer leverage up to 1:500, and allow scalping and hedging. All accounts have a margin call level set between 30% and 40% and no specified maximum number of open trades. Swap-free versions are available for all three account types.
Commissions
The Mini account at FX-Nice incurs a commission of $6 per lot traded, which is typical within the industry. It is noteworthy that this account, despite having the highest starting spread, is the only one with an added commission.
On the other hand, the Standard and Premium accounts utilize a spread-based system with no additional commissions.
Furthermore, swap fees, which are interest charges for holding trades overnight, apply to the Standard and Premium accounts, although swap-free versions of these accounts are offered as well.
Trading Platform
FX-Nice provides the MetaTrader 5 (MT5) trading platform for its clients. MT5 is a popular and widely-used platform in the trading industry known for its advanced features and capabilities. It offers a range of tools for technical analysis, charting, and automated trading strategies, making it a versatile option for traders of varying experience levels.
Customer Support
Fx-Nice offers multiple ways to connect to them.
- Tel: +44 702 401 0699
- Email: info@example.com
- Social Media: Facebook
- Company Address: 71-75 Shelton Street, Covent Garden, London WC 2H9 JQ
Conclusion
In conclusion, FX-Nice offers a range of trading accounts and instruments through the MetaTrader 5 platform, providing traders with various options for their trading needs. However, it is important to highlight the lack of regulation of FX-Nice, which raises concerns regarding the safety and security of client funds. Additionally, the unfunctional official website of the firm may hinder traders' ability to access important information and support services. Potential clients should carefully consider these factors before deciding to engage with FX-Nice for their trading activities.
Frequently Asked Questions (FAQs)
Is FX-Nice regulated？
No. FX-Nice is not regulated.
What are the available account types on FX-Nice？
FX-Nice offers Mini, Standard, and Premium trading accounts with varying features and minimum deposit requirements.
Are there any commissions applied to trades on FX-Nice？
The Mini account incurs a commission of $6 per lot traded, while the Standard and Premium accounts operate on a spread-based system.
What trading platform does FX-Nice use？
MetaTrader 5 (MT5).
What financial markets can be accessed through FX-Nice？
Traders on FX-Nice can access the Forex, Energy, Metals, and Cryptocurrency markets.
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 provided in this review may be subject to change due to the constant updating of the company's services and policies.
