Navik

Overview of Navik

Navik is an unregulated brokerage company registered in the United Kingdom. This firm boasts of providing investment choice of forex and CFDs with the popular MT4 platform. However, regulatory hurdles and lack of transparency on trading fees are the biggest drawbacks.

Pros and Cons

Is Navik Legit？

Navik currently does not hold any valid regulatory certificates. Although it is incorporated in he United Kingdom, it lacks regulation from any recognized financial authority. Opening an online brokerage account can be an easy way to start investing and there are always risks in investing. But we can choose to stay away from certain risks.

What Can I Trade on Navik？

Navik provides its clients forex and CFDs trading with leveage up to 1:100. Compared to other online brokerages, this firm does not offer as many ways to invest. For example, if you want to trade stocks, cryptocurrency, or ETFs, you won't be able to do that here. Whether this is a pro or con for you depends on your investment strategy. If you're a trader focused on forex and CFDs, then you may be fine with what Navik offers. On the other hand, if you want to diversify with a wider range of securities this brokerage may not be the best choice.

Account Types

Like some other brokerages, Star Forex tiers their accounts into three investment packages: micro, standard, and executive. Online and mobile platform are available for all account types. Mirco and standard are recommended for beginning and seasoned investors, respectively. But according to limited information on the website, we can not figure out what features or benefits each package could have.

Trading Platform

The popular MT4 platform is available with this firm. You can apply PC and mobile devices to download on its website. Its main features include high speed trading (up to 50 ms), technical indicators, automated trading and risk control.

Customer Support Options

For any question you might have, help is available via email (info@fxncl.com). There is no customer support phone number listed on the website and live chat isn't available. That could be an inconvenience if you need help with your account and time is of the essence. Other online brokerages may offer you more options for getting in touch with customer service representatives or investment experts.

The Bottom Line

Navik is a UK-based brokerage focusing on forex and CFDs trading. It offers three account types, but the features or benefits of each type is not clear on its website. Furthermore, Navik is not a trusted broker because it is not regulated by any financial authority with strict standards. If you want to stay safe, only sign up with brokers that are overseen by a top-tier and stringent regulator.

FAQs

Is Navik safe？

Navik is not regulated by any reputable financial authority. Before choosing a brokerage, remember to consider the risk involved.

Is Navik good for beginners？

While Navik offers a great platform for beginners, it's uncertain as their website lacks information about trading fees.

Does Navik offer leveraged trading？Yes, Navik provides leverage option, which is up to 1:100.

Risk Warning

Online trading involves considerable risk, so it may not be suitable for every client. Please make sure that you totally understand the risks involved and notice that the information above provided in this review may be subject to alteration owing to the constant updating of the company's services and policies.