NCM
Pros and Cons
Pros
- Regulated by FCA, SCA, and Labuan FSA
- Diverse trading instruments: Forex, metals, energy, agriculture, and CFDs
- Trading platform: MetaTrader 5 (MT5) available
- Offers risk-free demo accounts for practice
- 24/6 customer support via multiple channels
Cons
- High minimum deposit of $3,000
- Limited trading instruments (no cryptocurrencies, bonds, or ETFs)
- Variable spreads can be wide
- Low maximum leverage of 1:100
- Poor transparency on fee structure
Basic Information
User Reviews
NCM Overview
NCM is a multi-asset forex broker founded in 1993 and headquartered in Kuwait. The broker is regulated by prominent financial authorities, including the UK Financial Conduct Authority (FCA), the Securities and Commodities Authority (SCA) of the United Arab Emirates, and the Labuan Financial Services Authority (Labuan FSA), which adds a layer of trust for potential traders. NCM’s regulatory licenses enhance its credibility within the forex trading community and provide assurance to clients regarding operational transparency and security.
Is NCM Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Financial Conduct Authority (FCA) | United Kingdom | Segregated Funds, Investor Compensation Scheme |
| Securities and Commodities Authority (SCA) | United Arab Emirates | Segregated Funds |
| Labuan Financial Services Authority (Labuan FSA) | Malaysia | Segregated Funds |
Is NCM Regulated and How Are Client Funds Protected?
NCM is a well-regulated broker, holding licenses from three recognized financial authorities: the Financial Conduct Authority (FCA) in the United Kingdom, the Securities and Commodities Authority (SCA) in the United Arab Emirates, and the Labuan Financial Services Authority (Labuan FSA) in Malaysia. These regulatory bodies ensure that NCM adheres to strict compliance standards, enhancing its legitimacy and trustworthiness in the financial market.
Client funds are protected through various measures including the maintenance of segregated accounts, which ensures that client deposits are kept separate from the broker’s operational funds. This structure minimizes the risk of loss in the event of financial difficulties faced by the broker. Additionally, the FCA’s Investor Compensation Scheme provides an extra layer of security for clients in the UK, offering compensation in the unlikely event that the broker fails. Overall, NCM’s regulatory status and fund protection measures contribute to a safe trading environment for its clients.
Trading Products and Services
What trading instruments does NCM offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, Major & Minor Pairs | Many |
| Commodities | Gold, Silver, Crude Oil, Natural Gas | Varies |
| Indices | S&P 500, NASDAQ, FTSE 100, DAX | Varies |
| Stocks | US (e.g. Apple, Tesla), UK (e.g. BP, Vodafone) | Many |
| Cryptocurrencies | BTC, ETH | Not available |
NCM offers a diverse range of trading instruments that cater to various trading styles and strategies. With options across five primary asset categories—Forex, Commodities, Indices, Stocks, and Cryptocurrencies—traders can find suitable products whether they are beginners or experienced professionals. This variety allows traders to build well-rounded portfolios and implement flexible trading strategies, thus enhancing their ability to navigate different market conditions. By supporting multiple asset classes, NCM empowers traders to diversify their investments effectively, making it a valuable platform for anyone looking to expand their trading horizons.
Account Types and Trading Conditions
What Account Types and Fees Does NCM Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners and retail traders | Low spreads, access to educational resources | Minimum deposit of $3,000 |
| Professional Account | Experienced traders | Higher leverage, lower spreads | Requires trading volume qualifications |
| Corporate Account | Corporate clients | Customized services, dedicated account management | Requires corporate documentation |
| Islamic Account | Traders seeking swap-free options | Compliance with Sharia law, no overnight interest | Available upon request |
| Demo Account | New and prospective traders | Risk-free trading environment, practice features | No minimum deposit required |
Account Opening Process
To open an account with NCM, potential traders must complete several steps:
1. Personal Information Submission: Fill out the application form with personal details, including name, contact information, and date of birth.
2. Employment and Financial Information: Provide details about employment status and financial background to assess trading suitability.
3. Identity Verification: Submit identification documents such as a government-issued ID and proof of address (e.g., utility bill).
4. Account Flexibility: Once registered, traders have the option to upgrade to a professional account if they meet the necessary criteria.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (ECN: $3.5/lot) | Tight spreads for major pairs |
| Forex (GBP/USD) | 1.0 | $0 (ECN: $3.5/lot) | Competitive spreads |
| CFDs (Stocks) | 1.2 | $10 per lot | Varied based on stock liquidity |
| CFDs (Indices) | 1.5 | $5 per lot | Spreads may widen during volatility |
| CFDs (Commodities) | 2.0 | $10 per lot | Standard spreads apply |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on market conditions |
Other Fees
Traders should be aware of additional costs that may apply:
– Deposit/Withdrawal Fees: May vary depending on the payment method selected.
– Inactivity Fees: Charged if the account is dormant for a specified period.
– Platform Usage Fees: Not applicable, as NCM does not impose fees for using its trading platform.
– Overnight Interest (Swap Rates): Applicable for positions held overnight unless in an Islamic account.
– Currency Conversion Fees: May apply for accounts operating in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does NCM Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT4/MT5 | Windows, macOS, iOS, Android | 2FA, encryption, multiple order types, price alerts, technical indicators | Demo accounts, VPS, API access |
| Web Version | All browsers | Login security, symbol lookup, one-click trading, push notifications | Demo accounts |
| Mobile App | iOS, Android | Biometric login, market search, price alerts, economic calendar | Demo accounts |
Each platform offered by NCM caters to different trading preferences. MT4/MT5 is ideal for advanced traders requiring comprehensive tools and features. The web version provides accessibility without software installation, while the mobile app supports trading on-the-go with convenient login and alert functionalities. NCM ensures secure logins across all platforms, rapid order execution, real-time alerts, and efficient market search tools, making it a versatile choice for traders.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | Deposit: 1-3 days, Withdrawal: 2-5 days | Usually free, but banks may charge a fee (USD 15-30 for international wires) | Min Deposit: 100 USD, Max Withdrawal: 50,000 USD/day | USD, EUR, GBP, JPY, AUD |
| Credit/Debit Card | Deposit: Instant, Withdrawal: 1-3 days (after verification) | No platform fees, but cash advance fees may apply | Min Deposit: 100 USD, Max Withdrawal: 10,000 USD/transaction | USD, EUR, GBP |
| E-wallets (PayPal, Skrill, Neteller) | Deposit: Instant, Withdrawal: Same day | No platform fees, but e-wallet fees may apply (1-2%) | Min Deposit: 50 USD, Max Withdrawal: 10,000 USD/transaction | USD, EUR, GBP |
| Local Payment Methods (Knet, NAPS, Benefit) | Deposit: Instant, Withdrawal: 1-2 days | No platform fees, but local fees may apply | Min Deposit: 10 USD, Max Withdrawal: Varies by method | Supports local currencies |
Withdrawals must return to the original payment method due to anti-money laundering (AML) and know-your-customer (KYC) requirements, ensuring traceable fund flows. First-time large withdrawals (typically over 2,000 USD) require identity documents (passport) and address proof (utility bill), with additional scrutiny for suspicious transactions.
Southeast Asian users may prefer local methods like Knet or NAPS; European clients often use SEPA transfers; Latin American users rely on domestic banks. Note that US users cannot use Skrill, and some Middle Eastern countries limit PayPal. Partner banks in Japan may offer zero-fee transfers.
Cost Optimization Tips
- Small Deposits (<1,000 USD): Prioritize e-wallets or credit cards for instant, fee-free deposits.
- Large Deposits (>5,000 USD): Use bank transfers or SEPA for a lower total cost despite slower processing times.
- Avoid Hidden Costs: Match the deposit currency with your account’s base currency to avoid conversion fees.
- Multi-base Currency Accounts: Select brokers with several base currency options to minimize cross-currency fees.
How to Withdraw
- Log into your trading account.
- Navigate to the withdrawal section.
- Select your preferred payment method.
- Enter the withdrawal amount and any required details.
- Submit your request and complete any necessary identity verification.
Customer Support
NCM Customer Support Overview
Support Channels
NCM offers multiple contact methods to ensure that customers receive prompt and effective help. These include:
- Email: Customers can reach out via cs@ncminvest.com for support inquiries.
- Live Chat: An instant messaging feature is available on the NCM website, allowing for real-time communication with support representatives.
- Telephone: Direct support can be accessed through the contact number +965 181 3888.
- Social Media: NCM is active on platforms like Facebook, providing additional avenues for customer interaction.
Service Availability
NCM’s customer service operates 24/6, accommodating the needs of traders across various time zones. The support team is proficient in multiple languages, including English and Arabic, ensuring effective communication with a diverse clientele.
Additional Resources
NCM provides educational resources to enhance customer trading experience, which include:
- Video tutorials that cover platform navigation and trading strategies.
- Webinars hosted by industry experts to deepen market understanding.
- Regular market analysis updates to inform trading decisions.
- Trading signals to assist clients in optimizing their trading strategies.
In summary, NCM is committed to delivering exceptional customer support, ensuring that assistance is readily available when needed, thereby enhancing the overall trading experience.
Frequently Asked Questions
NCM holds three valid financial licenses: an Institution Forex License from the FCA in the United Kingdom, a Retail Forex License from the SCA in the United Arab Emirates, and a Straight Through Processing (STP) license from the Labuan Financial Services Authority in Malaysia. These licenses ensure compliance with regulatory standards and provide a level of security for our clients.
To open an account with NCM, the minimum deposit requirement is $3,000. NCM offers trading with leverage up to 1:100 on the MT5 platform, focusing on a range of instruments including Forex, Gold & Silver, Oil & Gas, Agriculture, and CFDs on Shares and Indices. Our accounts include Variable Execution and Plus Leverage options, catering to different trading strategies.
NCM prioritizes the security of client funds by maintaining segregated accounts with top-tier banks, ensuring that client deposits are protected and separate from the company’s operational funds. Additionally, our regulatory compliance requires strict adherence to financial regulations, further ensuring the safety of client investments.
NCM offers comprehensive customer support available 24/6 through various channels including live chat, email at cs@ncminvest.com, and phone support at +965 181 3888. Our dedicated support team is trained to assist clients with any inquiries related to trading, account management, and technical issues, ensuring a seamless trading experience.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.