Unauthorized Offshore Broker NordFX Included in Red Compliance List!

Offshore broker NordFX included in the FinTelegram Orange List
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FinTelegram issued a warning against NordFX, a retail broker operating without authorization, back in early 2023. The broker, formerly regulated by CySEC, currently has no license known to us and is mainly active in Asia and South America, with the formerly CySEC-regulated entity acting as payment agent. Most recently, it has attracted attention due to the “Mega Super Lottery.” We have added NordFX to our Red Compliance list.

NordFX Key Data

Trading nameNordFX
ActivityForex and CFD broker
Social mediaLinkedIn, Twitter, Facebook, Instagram
Legal entitiesNFX Capital VU Inc (Vanuatu)
Nord Group Investments Inc. (Mauritius)
Inveza Capital Ltd (Cyprus)
NFX Capital Cy Ltd (Cyprus)
Contact data+357-25030262; +972559662836 +86 108 4053677;
+447458197795; +593-9-97-221410; +972559661848;
+66600035101; +447458197293;
[email protected]
Leverageup to 1:1,000
Payment optionsCredit/debit card, bank wire,
e-wallets, crypto
Payment processorsBrightCart, Kryptova, DusuPay
DragonPay, Fasapay, Help2Pay
Perfect Money, Skrill, Neteller
SticPay, TC-Pay, PayRetailers
Cryptix, Binance
FXPaymentServices (https://secure.fxpaymentservices.com)
Related individualsAndrei Kopnov
Dmitry Konev
Andrei Lelyuk
Trustpilot4.4-star rating with “Excellent” trust level
Compliance ratingRed

Short NordFX Narrative

NordFX is a forex and CFD broker that has been in existence since 2008 or 2009 and has since been operated with different legal entities in different jurisdictions. According to older reviews and archived websites, NordFX in Europe used to be operated by CySEC-regulated NFX Capital CY Ltd with the domain NordFXeu.com. In 2022 the legal entity was renamed Inveza Capital Ltd and was also doing business as Inveza (www.inveza.com) until the CySEC license was voluntarily renounced in 2022.

In September 2022, Inveza announced that it would cease operations. The Inveza website is offline, but Inveza Capital Ltd is still active as a payment agent for NordFX.

Today, NordFX is an offshore broker registered in Vanuatu that operates through several websites, primarily in Asia, and offers leverage of up to 1:1,000.

With almost 500,000 monthly visitors, NordFX is quite a large broker. More than 60% of website visitors come from Asian countries like Vietnam, Thailand, or the Philippines. The NordFX scheme reportedly has more than 2 million clients and 29,000 affiliates. Those are impressive numbers.

Payment Processors

NordFX has an extensive portfolio of payment processors. Among the payment processors, we have discovered BrightCart, Kryptova, DusuPay, and DragonPay. Deposits via crypto are possible via BinancePay or Cryptix. There are also several e-wallet services, such as PerfectMoney, Skrill, and Neteller.

The credit/debit card payments were processed through BrightCart. The merchant payment address given is Loukis Akritas Street 14, Agia Zoni, Limassol, Cyprus. So once again we end up in Cyprus with Inveza Capital Ltd sitting at this address.

The deposits via BinancePay are processed via the domain https://dfsdsca3.kazkeqeda.com/payment via https://pay.tx-point.com.

Compliance Check

The NordFX website says no clients from North America and the EU are accepted. However, we could register as EU residents in our review on 24 Oct 2023.

Upon our registration we were prompted to make a first deposit. At this point we had not even confirmed our email. let alone a KYC check. However, a maximum of $5,000 was possible via credit/debit cards but (theoretically) unlimited amount would have been possible via crypto and e-wallets. A message at the bottom of the web page makes you aware that a verification is needed for withdrawals.

NordFX offers retail clients a maximum leverage of 1:1000 although most regulatory regimes only allow a maximum of 1:30 for retail clients.

Due to the lack of regulatory permission as well as regulatory violations in various we have placed NordFX on our Red Compliance list.

NordFX does not look like a scam, but it is certainly an unauthorized offshore broker. Any investor compensation schemes do not protect clients of offshore brokers and are not entitled to financial ombudsman support. You should, therefore, avoid offshore brokers in general.

Share Information

If you have any information about NordFX, its operators, and its facilitators, please let us know via our whistleblower system, Whistle42.

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