Nexsus Financial Markets Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this Nexsus Financial Markets Review.
Nexsus Financial Markets Review
There are 4 basic accounts available to Nexsus Financial Markets’ clients: Micro, Standard, Advanced and ECN.
Micro account is targeted at inexperienced clients, requires low minimum deposit, offers high leverage and allow trading with low volumes (micro lots). However micro account holders can trade only forex, gold and silver.
Standard account allows trading with forex, gold, silver, futures, indices and commodities and still offers high leverage and fixed spreads. However the minimum trade size is ten times higher and so is the minimum deposit.
Advanced account is intended for high net worth investors, ready to deposit minimum $100 000. With this account type they get access to lower spreads but also lower leverage of only 1:100.
In addition, ECN account is available for traders who need lower spreads and fast execution in ECN environment and are ready to pay $6 round-turn commisson (about 0.6 pips) for them.
All account types are avilable in Islamic (swap-free) version except for the ECN account. For more brokers offering swap-free accounts click here.
Nexsus Financial Markets is a brand established in 2013 by Abshire-Smith Global Ltd., a UK-based company, regulated by FCA. The broker offers trading in currency pairs, precious metals, futures, indices and commodities.
Security of Funds
As we have already mentioned, Nexsus Financial Markets is operated by Abshire-Smith Global Ltd. – a company authorised and regulated by the UK Financial Conduct Authority (FCA).
FCA is UK’s watchdog in the field of provision of financial services, applying strict requirements to brokerage firms. They are required to comply with certain rules and regulations covering client funds, order execution and minimum capital requirement. UK-based brokers are obliged to hold at least €730 000 in order to prove their reliability. Regulatory authorities in most jurisdictions set minimum capital requirements to providers of financial services: Cyprus-based ones are required to possess at least €1,000,000 in order to conduct their business legitimately; likewise, Australian brokers must hold a minimum of $1,000,000; US-based brokers are required to have as much as $20 million as a minimum.
As regards the security of client funds, we would also like to draw attention to the fact that FCA-regulated companies fall under the umbrella of the Financial Services Compensation Scheme (FSCS), which protects consumers up to £50,000 per person. Here is a list of more FCA regulated forex brokers.
Furthermore, Nexsus Financial Markets states on its website that it provides liquidity from tier 1 bank and non-bank institutions in order to provide traders with access to deep liquidity pool. Among the enlisted names are the following: Deutsche Bank, SEB, Goldman Sachs, BARCLAYS, JPMorganChase, HSBC and others.
Minimum Initial Deposit
The minimum initial deposit, required by Nexsus Financial Markets amounts to $250, which is average for the industry. Other UK-based forex brokers, like Darwinex and the famous FxPro, require as much as $500 from their clients, however there are others, like FXopen and Price Markets, that demand just $1 from clients to start with.
Spreads & Commission
Nexsus Financial Markets offers both fixed and variable spreads. Fixed ones amount to 2.0 pips on majors and are offered to Mini and Standard account holders, while floating ones are starting from 0.6 pips (on the ECN account), however they also involve a commission fee of $6 per lot.
For purposes of comparison, FxPro offers average spread of 1.4 pips on the EUR/USD for its commission-free MT4 accounts and average spreads as low as 0.4 pips on the EUR/USD for its cTrader accounts, charged $4.5 per standard lot.
The maximum leverage level at Nexsus Financial Markets is 1:400, which may be considered average, as FxPro, for instance, offers leverage up to 1:500 and FXCM – up to 1:200. There are other brokers, like XM, providing leverage levels as high as 1:888. Traders, however, should be careful, because such leverage levels may both multiply their earnings and lead to heavy losses. That is why limitations on leverage rates are set in several jurisdictions: 1:50 in the USA, 1:25 in Japan, 1:100 in Poland.
Nexsus Financial Markets uses the most popular and powerful trading platform MetaTrader4 (Desktop and mobile versions available). The MT4 provides all the tools and resources a trader needs: automated strategies, extensive back-testing environment and plenty of build-in technical analysis tools. Here is a list of more forex brokers offering MT4 platform.
Methods of Payment
This broker offers its clients two ways of making deposits and withdrawals to and from their accounts: Bank transfer and the e-payment system Skrill.
Nexsus Financial Markets is a new broker, regulated by the FCA, which offers relatively fair trading conditions for trading forex, futures, indices and commodities through the industry’s standard MT4.
Nexsus Financial Markets Review Conclusion
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