NOZAX

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information & Regulation

Feature	Detail
Regulation	No regulation
Market Instrument	Forex, shares, indices, cryptocurrencies and commodities
Account Type	NZX ZERO and NZX CORE
Demo Account	yes
Maximum Leverage	1:500
Spread	From 0.0 pips
Commission	NZX ZERO: $3.5, NZX CORE: no
Trading Platform	MT5
Minimum Deposit	no
Deposit & Withdrawal Method	Bank Transfer, Visa, MasterCard, Skrill, Neteller and Local Bank

NOZAX, a trading name of NOZAX AD, is allegedly a forex broker registered in Montenegro that claims to provide its clients with various tradable financial instruments with leverage up to 1:500 and floating spreads from 0.0 pips on the MT5 trading platform via two different live account types, as well as 24/7 customer support service. Here is the home page of this brokers official site:

As for regulation, it has been verified that NOZAX currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.40/10. Please be aware of the risk.

Market Instruments

NOZAX advertises that it offers access to 100+ trading instruments in financial markets, including forex, shares, indices, cryptocurrencies and commodities.

Account Types

Apart from demo accounts, NOZAX claims to offer two types of trading accounts, namely NZX ZERO and NZX CORE, with no minimum deposit requirement.

Leverage

The leverage provided by NOZAX is 1:500. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads & Commissions

NOZAX claims to offer spreads from 0.0 pips on the NZX ZERO account. As for the commission, there is a commission of $3.5 per lot per side on the NZX ZERO account, while no commission on the NZX CORE account.

Trading Platform Available

The platform available for trading at NOZAX is one of the most notable and preferred trading platforms the market offers - MetaTrader5. This trading terminal is highly praised by traders and brokers alike due to its ease of use and great functionality. The MT5 offers top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.

Deposit & Withdrawal

NOZAX says to work with numerous means of deposit and withdrawal choices, consisting of Bank Transfer, Visa, MasterCard, Skrill, Neteller and Local Bank. The minimum deposit and withdrawal amount for Bank Transfer is $100, while no limits for the other methods. There is no deposit and withdrawal commission fees charged. As for the processing time of deposits and withdrawals, Bank Transfer takes up to 3 working days, while others are instant.

Customer Support

NOZAXs customer support can be reached by telephone: +382 20 337 453 or fill in Contact Form to get in touch. You can also follow this broker on social networks such as Twitter, Facebook, Instagram, YouTube and LinkedIn. Company address: Ankarski bulevar 12 Podgorica 81000 Montenegro.

Pros & Cons

Pros	Cons
• Multiple trading assets and payment options offered	• No regulation
• Demo accounts available
• No minimum deposit requirement
• MT5 supported

Frequently Asked Questions (FAQs)

Q 1:	Is NOZAX regulated？
A 1:	No. It has been verified that NOZAX currently has no valid regulation.

Q 2:	At NOZAX, are there any regional restrictions for traders？
A 2:	Yes. Restricted Regions: NOZAX does not provide services to residents of certain jurisdictions such as the United States of America, Canada, Cuba, Islamic Republic of Iran, Sudan, Syria and the Democratic Republic of Korea.

Q 3:	Does NOZAX offer demo accounts？
A 3:	Yes.

Q 4:	Does NOZAX offer the industry-standard MT4 & MT5？
A 4:	No. Instead, NOZAX offers the MT5 platform.

Q 5:	What is the minimum deposit for NOZAX？
A 5:	There is mo minimum initial deposit requirement at NOZAX.

Q 6:	Is NOZAX a good broker for beginners？
A 6:	No. NOZAX is not a good choice for beginners. Although everything seems to be quite good, it lacks legitimate regulation. So, trading with this broker has no security guarantee.