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United KingdomFCA (license number: 672844) The regulatory status is abnormal, the official regulatory status is Unsubscribed. Please be aware of the risk!

This broker exceeds the business scope regulated by Germany BaFin(license number: 142143)BaFin Non-Forex Licence Non-Forex License. Please be aware of the risk!

This broker exceeds the business scope regulated by France BDF(license number: 75131)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!

The broker NICOFX’ real address was inconsistent with its regulatory address. Although it has an CySEC STP license (reference number 226/14) and an FCA EEA Representative license (reference number 672844), it is running business out of the fields allowed by its BaFin license (No.142143) and French BDF license (No.75131)

Regulation: Cyprus Securities and Exchange Commission (CySEC). NICOFX also registered with Financial Conduct Authority (FCA, UK) and Federal Financial Supervisory Authority (BaFin, GER). NICOFX is also a member of the Investor Compensation Fund (ICF) and is governed by the European Markets in Financial Instruments Directive (MiFID). 

Trading instruments: Forex, Spot Metal, and CFD

Nico FX Review : Trading Conditions

Currency pairs: up to 46 

Nicofx offers its clients a 100% Straight Through Processing (STP) online trading service.

Advantages of STP Execution:

  • Transparent Business Model
  • Fast execution – Real market conditions
  • Market execution – No re-quotes
  • Deep Liquidity

NICOFX adheres to the strict policy that all clients’ funds are kept fully segregated from NICOFX’s own funds.

Spreads starting from 2.6

Maximum leverage is up to 1:100

The minimum trade size with which we can trade with this broker is 0.01 lots (micro lot)

Nico FX Review : Trading Platforms

NICOFX MetaTrader 4 Trading Platform

The NICOFX trading platform is the award winning MetaTrader 4, one of the most innovative and powerful trading platforms. The platform combines an accessible, user-friendly interface with a wide range of powerful functions, making it an ideal highly flexible platform for clients to start trading.

Some of the advantages of the MetaTrader 4 platform:

  • Available on PC, Mobile and Tablet versions
  • User-friendly interface
  • Advanced charting package
  • Robust security system
  • Expert advisor (EA) trading
  • Multi-currency & language support
  • Technical indicators
  • Trading Signals 

Nico FX Review : Trading Account Types

NICOFX offers three types of trading accounts: Mini, Standard and Premium, which offer different trading options. NICOFX continuously strives to provide more innovative trading accounts according to its clients’ needs.

Account SpecificationStandardPremiumVIP
Account Deposit CurrenciesUSD / EURUSD / EURUSD / EUR
Indicative Spread (EURUSD) from 2.6from 1.8from 0.9
Minimum Initial Deposits $ 100$ 5,000$ 10,000
Leverage (Max) ESMA leverageESMA leverageESMA leverage
Execution ModelSTP / ECNSTP / ECNSTP / ECN
Execution TypeMarket OrderMarket OrderMarket Order
Minimum Trade Lot Size (FX)
Incremental Trade Lot Size (FX)
Maximum Trade Per Ticket (FX)50 lots50 lots50 lots
Margin Call Level100%100%100%
Stop Out Level50%50%50%
Trading PlatformMT4MT4MT4
Trading InstrumentsFX, MetalsFX, MetalsFX, Metals
Expert Advisor (EA) TradingYesYesYes
Islamic Account (Swap-Free) YesYesYes


Nico FX Review : Payment methods for deposits and withdrawals

Available payment options include bank wire, credit/ debit cards, Skrill, UnionPay

Minimum deposit requirement: $100

Customer Support

NICOFX client support staff are available to assist you via live chat, email, client portal, telephone or call back during market trading hours. The broker does not offer educational content on its website. There is a Trading Tools section in the main menu, but the tab is currently disabled, so we can’t know what kind of tools they are, and how much interest they have for the trader.

How was the rating of Nicofx performed compared to other brokers? 

This 2023 Forex Broker Review  has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on Nicofx FX broker performance and features. 

Overall our online Nicofx review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online Nicofx or you find inaccurate details Nicofx broker review please get in touch with us and the changes will be applied.   

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