When it comes to choosing a reliable and trustworthy forex broker, it’s important to thoroughly research the options available. NPBFX is one such broker that has been operating in the financial markets since 1996, initially as part of Nefteprombank and later rebranding as an international brokerage in 2016.
In this comprehensive review, we’ll take a deep dive into NPBFX’s offerings, evaluating its trading conditions, regulatory status, user reviews, and more. Our goal is to provide you with a balanced and objective assessment to help you determine if NPBFX is the right fit for your trading needs.
We’ll cover key areas such as the broker’s account types, trading platforms, fees and commissions, customer support, and overall reputation in the industry. By the end of this review, you’ll have a clear understanding of NPBFX’s strengths, weaknesses, and whether it deserves consideration as your preferred forex and CFD trading partner.
Let’s get started with an overview of NPBFX and its core features.
Overview of NPBFX
NPBFX has an overall score of 8 out of 10 from Traders Union, indicating a positive review. This score is based on the broker’s trading conditions, user reviews, and other factors. The Traders Union expert Anton Kharitonov believes the broker can be recommended, as the majority of reviews indicate that the broker’s clients are fully satisfied with the company.
NPBFX is a long-standing broker offering competitive spreads starting from 0.4 pips and leverage up to 1:1000. It provides access to a variety of markets, including Forex, oil, stocks, and indices. The broker has fast order execution speeds of 50-70 ms, making it suitable for scalping and high-frequency trading. NPBFX is a member of the Financial Commission, offering up to EUR 20,000 insurance coverage on deposits. The broker explicitly indicates that strategies like scalping, hedging/locking, and algorithmic high-frequency trading are welcomed on all account types.
While NPBFX does not hold licenses from major regulators, it is a member of the Financial Commission, which offers some level of deposit insurance and dispute resolution. This membership provides a level of protection for clients, ensuring that their deposits are segregated and protected in case of any issues with the broker. Additionally, the broker’s reputation is supported by the reputation of the bank, which adds an extra layer of security for clients.
NPBFX has received mixed reviews from users, with some praising its fast withdrawal processes and good customer support, while others have reported issues with withdrawing funds and poor customer service. Despite these mixed reviews, the broker has a rating of 1.3 out of 5 stars from RebateKingFX, indicating a generally positive review.
Overall, NPBFX is a well-established broker offering competitive spreads and leverage. It provides access to a variety of markets and has fast order execution speeds. The broker is a member of the Financial Commission, offering up to EUR 20,000 insurance coverage on deposits. While it does not hold licenses from major regulators, its membership in the Financial Commission provides a level of protection for clients.
Advantages and Disadvantages of NPBFX
Advantages of trading with NPBFX
NPBFX offers several key advantages for traders:
- Best Market Prices: The broker provides traders with the best market prices supported by liquidity from Tier 1 banks and ECN systems like Integral, Currenex, and Hotspot.
- Deposit Insurance: NPBFX’s membership in the Financial Commission provides up to EUR 20,000 insurance coverage on traders’ deposits.
- Social Trading: The broker offers access to the independent ZuluTrade social trading platform, allowing traders to copy the strategies of successful traders.
- Favorable Trading Conditions: NPBFX has a low minimum deposit of $10 and offers leverage up to 1:1000. Additionally, the broker allows all trading strategies, including scalping, hedging/locking, and algorithmic high-frequency trading.
- Fast Order Execution: With order execution speeds of 50-70 ms, NPBFX is suitable for scalping and high-frequency trading strategies.
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Disadvantages of NPBFX
While NPBFX offers several advantages, there are also some potential drawbacks to consider:
- ZuluTrade Speed: Compared to other brokers, the speed of copying trades on the ZuluTrade platform is not the fastest.
- Lack of MT5 Platform: NPBFX only offers the MetaTrader 4 (MT4) trading platform, and does not provide the MetaTrader 5 (MT5) platform, which has some unique advantages.
- Regulatory Oversight: NPBFX is not licensed by major regulators, and is only a member of the Financial Commission, which does not always support traders and is not authorized to recover fines imposed on brokers.
- No Cent Accounts: NPBFX does not offer cent accounts, which can be useful for beginner traders.
- Relatively High Fees: While the broker’s spreads are competitive, its trading commissions per transaction are relatively high compared to some competitors.
Trading Platform and Accounts
Trading Platform
NPBFX offers the popular MetaTrader 4 (MT4) trading platform, which is suitable for traders who prefer customized indicators, scripts, and advisors. The platform is also integrated with ZuluTrade, allowing traders to copy the strategies of successful traders. Additionally, NPBFX offers its own customized platform, NPBFX Trader, which provides traders with a unique trading experience.
Account Types
NPBFX offers four account types, each designed to cater to different types of traders:
Master Account
- Minimum deposit: $10
- Leverage: up to 1:1000
- Average spread: 1.2 pips
- Access to 36 currency pairs, gold, silver, oil, and natural gas
Expert Account
- Minimum deposit: $5,000
- Leverage: up to 1:100
- Average spread: 1.0 pips
- Access to 36 currency pairs, gold, silver, oil, and natural gas
VIP Account
- Minimum deposit: $50,000
- Leverage: up to 1:100
- Average spread: 0.8 pips
- Access to 36 currency pairs, gold, silver, oil, and natural gas
Zero Account
- Minimum deposit: $1,500
- Leverage: up to 1:100
- Average spread: 0.4 pips
- Access to 36 currency pairs, gold, silver, oil, and natural gas
All accounts have access to both MT4 and NPBFX Trader platforms, and traders can choose which platform they prefer. The accounts also have the same access to the same markets, with no trade commissions charged.
How to sign-up/log-in on NPBFX
To sign-up or log-in on NPBFX, you can follow these steps:
Sign-up:
- Go to the NPBFX website and click on the “Register” button.
- Fill out the registration form with your personal details, including your first name, email address, and password.
- Agree to the terms and conditions and privacy policy.
- Click on the “Register” button to complete the sign-up process.
Log-in:
- Go to the NPBFX website and click on the “Log in” button.
- Enter your username and password in the respective fields.
- Click on the “Log in” button to access your account.
Regulation and Safety
Regulation
NPBFX is not regulated by any major financial authorities or government agencies. The broker is a member of the Financial Commission, an independent international organization for the settlement of Forex disputes. This provides some level of oversight and dispute resolution, but the Financial Commission does not have the same regulatory powers as government bodies like the FCA, ASIC, or CySEC.
Advantages
The main advantage of NPBFX’s membership in the Financial Commission is the deposit insurance coverage of up to €20,000 per trader. This provides a level of protection for client funds in the event of broker insolvency or other issues.
Additionally, the broker’s reputation is supported by the reputation of the bank it is associated with, which adds an extra layer of credibility and trust.
Disadvantages
The lack of regulation by major financial authorities is a significant disadvantage for NPBFX. Without oversight from bodies like the FCA or ASIC, there are fewer safeguards in place to protect traders’ funds and ensure the broker’s compliance with industry standards.
Furthermore, the Financial Commission does not have the tools to recover fines imposed on the broker. The Commission also does not always decide in favor of traders in disputes, which can be a concern for clients.
Overall, the lack of regulation by major authorities is a major drawback for NPBFX. While the Financial Commission provides some level of protection, it does not offer the same level of oversight and security as regulation by top-tier financial regulators. Traders should carefully consider the risks involved before choosing to trade with NPBFX.
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Commissions and Fees
Spread and Fees
NPBFX offers a balanced commission system, making it attractive for traders of various levels. The broker’s spreads are competitive in the market, though the trading commission per transaction is relatively high compared to some competitors.
On the Zero account, NPBFX charges a commission of $4 per entire lot. This is higher than the commissions charged by some other brokers, such as IC Markets ($3.5 per lot) and Roboforex ($2.16 per lot) for the same EURUSD pair.
However, it’s worth noting that NPBFX does not charge an inactivity fee or withdrawal fees (only the payment providers’ fees apply).
The level of spreads offered by NPBFX is in the average range in the market. For example, on the Master account, the average spreads are:
- EURUSD: 1.5 pips
- GBPUSD: 1.8 pips
- USDJPY: 2.6 pips
While the spreads are competitive, NPBFX’s swaps are somewhat higher than those of most competitors for major currency pairs.
Deposit and Withdrawal
NPBFX provides instant deposit and withdrawal of funds upon the trader’s request. There is no limit on the number of deposit and withdrawal requests.
The following deposit and withdrawal methods are available:
- Visa
- Mastercard
- Webmoney
- FasaPay
- Skrill
- AdvCash
- Ngan Luong
- Neteller
- Local payment systems
- SEPA
- SWIFT
- Local Bank Transfer for SEA (IDR, MYR, VND, THB)
- Cryptocurrencies
NOTE: The first withdrawal is free, with the fee for subsequent withdrawals determined by the payment system and the trader’s jurisdiction. All fees are available in the Trading/Documents/Tariffs section of the user account. Withdrawal processing time is 1-3 days and the available deposit and withdrawal currencies are EUR and USD.
NPBFX Referral Program
Revenue Share
NPBFX offers a revenue share program for its partners, which provides a steady stream of income based on the trading activities of referred clients. The revenue share is calculated as a percentage of the client’s trading volume, and the partner can earn up to $19 per lot or up to $900 per deposit.
CPA (Cost Per Action)
In addition to the revenue share program, NPBFX also offers a CPA (Cost Per Action) program for its partners. This program provides a one-time payment for each new client referred to the platform, with a maximum payout of $900.
Advantages
The NPBFX referral program offers several advantages for partners, including:
- Competitive Commission Structure: The revenue share program provides a competitive commission structure, with up to $19 per lot or up to $900 per deposit.
- High-Quality Marketing Tools: NPBFX provides high-quality marketing tools and promotional materials to help partners effectively promote the platform and attract new clients.
- Dedicated Support: Partners receive dedicated support from NPBFX’s customer service team, which helps to ensure that any issues or concerns are addressed promptly and efficiently.
- Transparent Tracking: The program provides transparent tracking and reporting tools, which allow partners to easily monitor their earnings and track the performance of their referrals.
- Flexible Payout Options: NPBFX offers flexible payout options, which allow partners to choose how they receive their earnings, such as via bank transfer, PayPal, or other payment methods.
User Reviews and Ratings
Here are the user reviews and ratings for NPBFX:
Trustpilot: 4.5/5 stars (13 reviews)
- Most users have had positive experiences with NPBFX, citing stable platforms, low spreads, and quick support.
- Some users have reported issues with withdrawing funds, but these are relatively rare.
RebateKingFX: 1.3/5 stars (0 reviews)
- NPBFX is rated 1.3 out of 5 stars based on its popularity, regulation, user rating, pricing, features, and customer support.
- The broker is not regulated by any major financial authorities and has a low user rating.
55brokers: 3/10 stars
- NPBFX is rated 3 out of 10 based on its testing and compared to other popular brokers.
- The broker is not considered safe to trade due to its lack of top-tier licenses and offshore registration.
WikiFX: No review found
- WikiFX does not have a review for NPBFX.
Our Opinion About NPBFX
NPBFX is a mixed bag when it comes to being a reliable and trustworthy broker. Here’s a summary of the key points:
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Positives:
- Offers competitive spreads starting from 0.4 pips and leverage up to 1:1000
- Fast order execution speeds of 50-70 ms, suitable for scalping and high-frequency trading
- Member of the Financial Commission, providing up to €20,000 deposit insurance
- Variety of trading instruments including forex, commodities, stocks, and cryptocurrencies
- Social/copy trading integration with platforms like ZuluTrade
Negatives:
- Not regulated by major authorities like FCA, ASIC, or CySEC
- Relatively low user rating of 1.3/5 on RebateKingFX
- Ranked only 3/10 by 55brokers due to lack of top-tier regulation
- Some reports of issues with withdrawing funds and poor customer service
- No MT5 platform, only MetaTrader 4 available
Conclusion
In conclusion, NPBFX is a mixed bag when it comes to being a reliable and trustworthy broker. While it offers competitive spreads and fast order execution speeds, the lack of regulation by major financial authorities is a significant concern. The mixed user reviews and low ratings from industry analysts further call into question the broker’s reliability and trustworthiness.
For traders seeking a secure and well-regulated trading environment, I would recommend exploring alternative brokers that hold licenses from top-tier regulators like the FCA, ASIC, or CySEC. Some examples include FP Markets, Eightcap, and HFM. These brokers tend to offer similar trading conditions but with the added assurance of robust regulatory oversight.
In summary, NPBFX may be suitable for experienced traders willing to accept the higher risks associated with an offshore, lightly-regulated broker. However, for most traders, I would suggest considering more reputable and well-regulated options in the market.
Final Rating: 6.5/10
Recommendation: For traders seeking a secure and well-regulated trading environment, I would recommend exploring alternative brokers that hold licenses from top-tier regulators like the FCA, ASIC, or CySEC.
Disclaimer: This review is based on publicly available information and is intended to provide a general overview of NPBFX. It is not intended to be a comprehensive or definitive assessment of the broker.
