NYX

NYX Information

NYX, full name NYX Ltd, is incorporated in Turkey. NYX provides traders with a variety of popular markets, supporting traders to buy and sell foreign currencies, stocks, bonds, stocks, indices, cryptocurrencies, commodities, etc., and also provides 5 account types to suit different traders. But the broker's lack of regulation is its biggest drawback.

Pros and Cons

Is NYX Legit？

NYX, full name NYX Ltd, is incorporated in Turkey. At present, it is not regulated, so it has great disadvantages in security.

What Can I Trade on NYX？

NYX offers trading services in several financial markets, including modern markets such as Forex, commodities, stocks, cryptocurrencies, indicies, and various other instruments. This caters to both short-term traders and those looking for a longer-term investment.

Account Types

NYX provides 5 types of account, which are ECN VIP Account, CopyTrade Account, ECN Account, CUSTOM Account and PRO VIP Account.

These account types all offer high leverage, with CUSTOM accounts having a maximum leverage of 1:2000, which is suitable for traders who want to maximize their exposure while managing risk. They can also trade swaps and offer a range of foreign exchange pairs, metals and oil. CUSTOM accounts stand out for also including the stock market and digital currencies.

In addition, the minimum deposit amount for each of the 5 accounts varies, with ECN accounts requiring at least $300, while CUSTOM accounts are transferable, which can be advantageous for high-volume traders. Spreads vary the most, custom accounts offer the widest range of customizations, and PRO VIP accounts promise the narrowest spread, starting at 0.2 points. Commission structures vary, CUSTOM accounts allow negotiation and PRO VIP accounts offer a minimum rate of 3S/ lot.

NYX Fees

NYX Spreads

NYX account spreads vary, ranging from 0.1 to 0.4. It also supports the option of customizing spreads, which is attractive to experienced traders.

Non-Trading Fees

Both deposits and withdrawals through bank transfers and cash transaction accounts incur a 2-3% fee.

Webmoney does not charge commission for deposits, but withdrawals are subject to a 15% handling fee, plus any additional Webmoney fees. There are no commissions for depositing cryptocurrencies, while withdrawals have a 2% fee structure plus any applicable network fees.

Trading Platform

Deposit and Withdrawal

NYX offers 5 deposit and withdrawal options, different options require different fees, Webmoney and Tether withdrawal fees are higher, while cryptocurrency withdrawals require network fees. The minimum deposit is $10. With the exception of bank transfers and cash, the processing time of other electronic payment methods is relatively fast, which is an advantage for customers seeking efficiency.

Deposit Options

Withdrawal Options

Customer Service

NYX provides 24/7 support, and you can also get in touch by phone and email. In addition, you can choose to find them on social media or the company address they provide.

The Bottom Line

In summary, NYX offers a range of trading conditions that attract traders, such as low spreads or multiple trading methods. But the lack of regulation is a major shortcoming that cannot be ignored. Potential traders should carefully consider the risks associated with using an unregulated broker.

FAQs

Is NYX safe？

No. Given that NYX is not regulated, this means that there is a certain amount of increased risk for traders.

Is NYX good for beginners？

No. Because of its unregulated status and the complexity of some account types, NYX may not be the best choice for beginners. Beginners often need a safe, transparent, and well-supported trading environment, which unregulated brokers like NYX may not be able to fully provide.

Is NYX good for day trading？

No, NYX is not well suited for day trading. Despite its low spreads and the availability of various trading instruments, it is very popular among day traders. Yet unregulated status is a point of concern.