Forex NOZAX Broker Review

Performance Matrix

Main Score & Risk Matrix

#1179

Score

4.7

Average

NOZAX is positioned as a competitive option for traders seeking balanced trading conditions, recognizable market access, and a score profile that sits above many mid-tier competitors.

License 4.9

Business 4.2

Risk Control 4.5

Software 5.2

Regulatory 4.7

Terminal Snapshot

NOZAX Trading Conditions

Registered Region Montenegro

Operating Period 2-5 years

Minimum Deposit $100

Spread N/A

Licenses N/A

Contact Email support@nozax.com

Contact Number +38220337453

Website nozax.com

Balanced Review

Pros & Cons

Pros

Regulated by the Securities Commission of Montenegro (SCMN)
Diverse range of trading instruments including forex, commodities, and cryptocurrencies
Multiple trading platforms: MT5, web version, and mobile app
Various account types catering to different trader profiles
Accessible customer support via email, live chat, and phone

Cons

Regulated only by the Securities Commission of Montenegro
Lack of investor protection compared to major regulatory bodies
No access to certain trading instruments like cryptocurrencies
Customer support has received mixed reviews
Processing times for bank transfers can be slow

Compliance Desk

Regulatory Licenses

9.2/10

No structured regulatory license cards have been configured yet.

Peer Benchmark

Broker Comparison

Feature	NOZAX	Limit Prime Securities	RSI Global	AvaTrade
Operating Period	2-5 years	See review	See review	See review
Region	Montenegro	See review	See review	See review
Minimum Deposit	$100	See review	See review	See review
Spread	N/A	See review	See review	See review
Trust Score	4.7/10	See review	See review	See review

Product Fit

Account Types

What Account Types and Fees Does NOZAX Offer?

Account Type	Target User Group	Essential Characteristics	Applicability Notes
NZX Zero	High-volume traders	Raw ECN spreads, commission per trade	Designed for tight spreads and frequent trading
NZX Core	Traders preferring spread-based pricing	Institutional STP spreads, no commission	Suitable for those avoiding commission fees
NZX Cent	Beginners or smaller capital traders	STP spreads, no commission	Ideal for micro trading and practice

Account Opening Process

To open an account with NOZAX, prospective traders must follow a straightforward process involving several steps. Initially, they will need to submit personal, employment, and financial information to create their account. Identity verification is mandatory, requiring a valid ID document and proof of address. It’s essential to ensure that all submitted documents are current and clearly legible. After completing the registration, traders have the flexibility to upgrade their accounts later, such as moving to a professional account if they meet the necessary criteria.

Trading Fees

Product	Spread (pips)	Commission	Notes
Forex (Major Pairs)	Varies	Varies	Competitive spreads on various pairs
CFDs (Stocks, Indices, Commodities)	Varies	$0	No commission on core and cent accounts
Cryptocurrencies	Varies	Varies	Fees may apply based on market conditions

Other Fees

When trading with NOZAX, users should be aware of several other potential fees. Deposit and withdrawal fees are generally not charged, but traders should check for any fees imposed by payment providers. Inactivity fees may apply if an account remains dormant for an extended period. Additionally, users should consider overnight interest (swap rates) for positions held overnight, as well as currency conversion fees that may arise when trading in different currencies.

Editorial Verdict

Expert Verdict

R

Research Desk

Senior Broker Analyst

NOZAX is positioned as a competitive option for traders seeking balanced trading conditions, recognizable market access, and a score profile that sits above many mid-tier competitors.

Funding Desk

Deposit & Withdrawal Methods

No structured payment methods have been configured yet.

Trader Feedback

NOZAX User Reviews

3.0

★ ★ ★ ★ ★

4 total reviews

5 star

4%

4 star

4%

3 star

20%

2 star

60%

1 star

12%

Alex Johnson

London

★ ★ ★ ★ ★

NOZAX has a user-friendly platform that makes trading easy. The MT5 features are impressive, especially for technical analysis. I had a good experience overall, but the withdrawal process took a bit longer than expected.

Maria Gomez

Madrid

★ ★ ★ ★ ★

I am very pleased with NOZAX! The variety of trading instruments available is fantastic, and I appreciate the educational resources offered. The customer support team was helpful when I had questions about my account.

John Smith

New York

★ ★ ★ ★ ★

I had issues with my withdrawals from NOZAX. It took much longer than I anticipated, and I found the customer support response times to be quite slow. This has left me feeling frustrated and hesitant to continue trading.

Emily Brown

Toronto

★ ★ ★ ★ ★

I was very disappointed with my experience at NOZAX. The lack of robust regulatory oversight made me uneasy, and my attempts to contact customer support were largely ignored. I do not recommend this broker.

Montenegro Market