Broker NPBFX
It's no secret to all Russian citizens that a new law regulating forex markets has come into force, forcing many leading brokers to curtail their operations and re-register in so-called offshore zones.
Strange as it may sound, the new law has driven the market even further into the shadows, as unfavorable trading conditions prescribed by law make all Russian brokers uncompetitive.
Thus, starting January 1, Russia's largest banking broker, Nefteprombank, ceased providing services to private clients (namely, individuals) and began working only with legal entities (companies and funds).
According to Nefteprombank, NPBFX is its main partner. More precisely, part of the Nefteprombank team is the founders of this company and uses the bank's advanced technologies, maintaining the bank's high level of service.
Simply put, NPBFX is Nefteprombank, which has changed its registration. As confirmation, I suggest you read Nefteprombank's support response to a perfectly logical question about the similarities between the two brokers:
NPBFX offers its clients three account types: Master, Expert, and VIP. Each account differs primarily in its minimum deposit requirements and trading conditions.
For example, the minimum deposit for a Master account is $10, for Expert accounts it is $10,000, and for VIP accounts it starts at $100,000.
After re-registering the company, trading conditions and commissions became significantly more favorable. The maximum leverage for Master accounts is 1:200, while for Expert and VIP accounts it is 1:100.
Using STP technology, each trade is routed to a liquidity provider, ensuring incredibly low floating spreads.
For clients with a Master account, the spread on the EUR/USD currency pair is only 1.1 pips, for Expert accounts, the spread starts at 0.9 pips, and for clients with large capital, the spread is 0.7 pips. More detailed currency pair specifications can be found in the relevant section.
Trading Platforms:
The brokerage company currently provides access to financial markets through the Meta Trader 4 trading platform, as well as its versions for Android tablets and iOS. The company promises to soon restore the popular trading platform for Nefteprombank clients, NPBFX Trader.
Client Security: Licenses and Guarantees:
NPBFX holds licenses from two regulatory organizations: the International Financial Commission for Financial Services of Belize, the country of incorporation, and the equally renowned guarantor, The Financial Commission.
In fact, both of these guarantors are obligated to resolve any disputes between the client and the broker should they arise. It's also worth noting that The Financial Commission is establishing a fund under which five thousand dollars are allocated to resolve each dispute, which will allow for the resolution of virtually any dispute between the broker and the trader.
Deposits and Withdrawals:
Currently, NPBFX only allows deposits and withdrawals using Visa and MasterCard cards, with no commission. Soon, the broker will offer deposits and withdrawals via electronic payment systems such as WebMoney, Neteller, Yandex Money, and QIWI Wallet.
It's worth noting that the maximum daily withdrawal amount for dollar cards is currently no more than $5,000, and for ruble cards no more than 60,000 rubles. Incidentally, the first withdrawal to a card is commission-free, a feature unavailable with many other companies.
Contests and Promotions
: NPBFX brokerage is currently running a long-term contest called "Predict the Exchange Rate and Win an iPhone 6s!" The goal is to guess the approximate exchange rate for the euro/dollar currency pair on June 1st. The company has established five prize places.
All funds won in the competition are available for withdrawal without any restrictions on the number of lots traded.
Coming to the final phase of our review, it is worth noting that NPBFX, following its re-registration, has rapidly increased its ranking by improving its service and trading conditions.
NPBFX website
