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- Full listing profile: NICOFX broker profile
Is NICOFX safe?
- Investor protection: Cyprus Investor Compensation Fund (ICF)
- Regulation: CySEC Cyprus
- Registration: FCA UK, BaFin Germany
- Publicly traded: no
- Segregated account: yes
- Guaranteed Stop Loss: no
- Negative Balance Protection: yes
Is NICOFX trusted?
- Information transparency: sufficient
- Customer service: virtually non-existent
- NICOFX website: semi-detailed, updated
- NICOFX popularity (by visitor count): least visited
How NICOFX works
The Company acts as principal and not as agent on the Customer’s behalf; therefore, the Company is the sole Execution Venue for the execution of the Customer’s orders for the Financial Instruments provided by the Company.
he Company is always the counterparty (or principal) to every trade; therefore, if the Customer decides to open a position in a Financial Instrument with the Company, then that open position can be only closed with the Company.
6.5. Speed Execution – High Importance
As explained in the ‘Execution Venues’ section of this Policy, the Company acts as principal and not as agent on the Customer’s behalf; therefore, the Company is the sole Execution Venue for the execution of the Customer’s orders for the Financial Instruments provided by the Company.
4.1. Prices: The Company generates its own tradable prices based on price feeds from some of the world’s leading liquidity providers and independent price providers.
Mark-up: in the context of http://www.nicofx.com the Customers shall be charged a mark-up per currency pair.
4) For the ECN platform, traders are routed directly to liquidity providers through the electronic execution system. This system automatically requests a quote from a selection of liquidity providers. In conjunction with the price, the Company quotes the available liquidity, (or ‘market depth’), as obtained from its third party liquidity providers. The Company’s software will automatically aggregate all available liquidity at the best possible prices available and fill at the Volume-Weighted Average Price (V.W.A.P.).