NewForex Review

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Company Overview

With its offices in Moscow, London, Hong Kong and Dubai, NewForex is a globally renowned and an independent forex broker which started doing business in 2014. It is a very young forex broker working in the trading industry that aims to offer optimal platforms for training and trading commodities, forex and CFDs and allow its clients to make quick gains in a cost-efficient way. It has outstanding and high-quality customer support that is accessible throughout the week.

Trading Platform

NewForex allows only one platform for trading, which is MetaTrader 4 for Windows. It is the most extensive trading platform and perfect for all traders, whether they are new to the trading industry or experts. It offers a broad range of functions to ensure successful trading. It is limited to fourteen days of inactivity.

NewForex presents its clients with two different categories of accounts: MT4 First Stream and MT4 New Grade. Both accounts are instant execution type and have a base currency of American dollar, Russian ruble, and euro. MT4 First Stream requires a minimum deposit of 1 USD/EUR or 50 RUB. It has a leverage of 1:100 to 1:1000, spreads are fixed from 2 points, stop out level is 25%, and no interest per annum. On the other hand, the MT4 New Grade account requires a minimum deposit of 10 USD/EUR or 500 RUB. It has a leverage of 1:100 to 1:700, spreads are fixed from 2 points, stop out level is 30%, and 2.5 y/y interest percentage per annum.

Both accounts require a recommended deposit of 25 USD, 20 EUR, or 500 RUB, have a minimum lot size of 0.1 lot, a maximum lot size of 100 lots, a 50% margin call level and no commission, and are swap-free accounts. Trading period is from Monday to Friday.

NewForex allows its clients to take advantage from a few but reliable payment options. Clients can withdraw money and make a deposit through Skrill, Qiwi, WebMoney, and credit/debit cards.

Features

  • Fixed spreads from 2 pips
  • Widespread trading platform named MetaTrader 4
  • Leverage as high as 1:1000
  • Can create account from 1 USD/EUR
  • Customer service is accessible throughout the whole week
  • 30% deposit bonus
  • Extensive educational articles and other educational tools

Customer Service

Clients can call NewForex on its local numbers of its Moscow, London, Hong Kong and Dubai offices. It also provides clients with the facilities of “call from site” and “call me back”. Also, there are four separate emails and Skype IDs for a general question and promotion, support service, financial service, and partnership program available on its website. The website is accessible in English, Indonesian and Russian languages, whereas support system is only available in English and Russian.

Conclusion

Though NewForex is a new name in the trading industry, it offers extensive facilities like a well-established trader. With its wide range of forex education tools including numerous articles, literature and news and a 24/7 customer support system, it creates convenience for clients who are new to the forex industry. Still, it needs to work on its trading platform, which is only available on Windows.

Office website: https://newforex.com/

1 COMMENT

  1. Typical offshore broker with quite good execution and trading conditions. But there were some things, that make me change this broker: big negative slippages, rejects, sometimes even platform freezing. Now i’m trading with regulated ECN brokers and i forgot about such problems. So never trade with market maker. If you want to choose a really good broker, add me to skype – vovkfx, i will help you.

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