Worked example
Practising on NordFX's numbers
This is an exercise sheet, not a review. We are going to take three things that NordFX publishes — a spread, a ladder of account types and a list of licences — and turn each of them into something you can do arithmetic with. By the end you should be able to repeat the whole exercise on any firm you come across, which is the actual skill being taught.
The figures we are working from
Nothing below is our estimate. Where a firm has not published something, or we could not read it on a source we trust, the box says so instead of guessing — a habit worth copying when you build your own broker notes.
Exercise one — turn the spread into money
NordFX does not publish a EUR/USD spread we were able to verify, so there is no honest arithmetic to do on this page. Do not substitute a number you read on a comparison site: an unverified spread quietly becomes an unverified cost, and then an unverified plan. Use one of the other examples on the practice index for this exercise and come back to this file for the account ladder below.
Exercise two — read the account ladder
Account tiers are a pricing structure dressed as a status ladder. NordFX offers 3 rungs. Read them as a question — what does each rung ask of me, and what does it give back? — rather than as a set of prizes to climb towards.
- ProThe entry rung. Whatever the published spread applies to, it is almost always this one — so this is the rung your arithmetic above describes.
- ZeroA higher rung usually trades a tighter spread for a commission, a larger deposit, or a status test. Convert both pricing models to money per lot before you decide either is cheaper.
- FixA higher rung usually trades a tighter spread for a commission, a larger deposit, or a status test. Convert both pricing models to money per lot before you decide either is cheaper.
Account names as published: Pro, Zero, Fix. Platforms listed: MT4, MT5.
Exercise three — what this licence list means for you
A long licence list is not automatically a good sign. What matters to a beginner is a narrower question: which entity would hold my money, and who supervises that entity? Those are often not the same as the impressive name at the top of the list. Here are NordFX's lines, each with a plain reading.
| Regulator | Entity on the register | Number | What that means for a beginner |
|---|---|---|---|
| None — Saint Lucia company registration only · Saint Lucia | NordFX LTD (Saint Lucia reg. 2023-00470) | not verified | an offshore registration: a company exists and pays a fee, but expect little practical recourse from that entity |
| FSA Seychelles · Seychelles | Maximus Global LTD | SD065 | an offshore registration: a company exists and pays a fee, but expect little practical recourse from that entity |
| FSC Mauritius · Mauritius | Nord Premium LTD | GB24204016 | an offshore registration: a company exists and pays a fee, but expect little practical recourse from that entity |
No top-tier line appears on this file. That does not make the firm illegitimate, but it does mean the compensation-scheme and capital-rule protections a beginner usually assumes are present are not evidenced here. 3 lines are offshore registrations; treat those as a company address rather than as supervision. We could not confirm a licence number on 1 line, which is exactly the kind of gap you should close yourself on the regulator's own register before depositing.
The record behind these numbers
- NordFX's own site states the website is owned and operated by NordFX LTD, part of Nord Group, registered in Saint Lucia under registration number 2023-00470; a Saint Lucia IBC registration is a company registration and not financial-services supervision.
- The group's licensed entities named on the site are Maximus Global LTD, a Securities Dealer under FSA Seychelles licence SD065, and Nord Premium LTD, an Investment Dealer under FSC Mauritius licence GB24204016 (checked 7 August 2026).
- NordFX holds no tier-1 or EU regulatory authorisation according to its own published disclosures.
- Trade-press reporting states the group moved its operating registration from Vanuatu to Saint Lucia; the Vanuatu status was not confirmed against the VFSC register for this record.
What we could not verify
The following are unconfirmed and are deliberately left blank rather than estimated: founded; minDeposit; maxLeverage (exact cap per entity); spreadEurusd; segregatedFunds; negativeBalanceProtection; publiclyListed; current VFSC (Vanuatu) status — not confirmed on the regulator's register; negative balance protection. Confidence in this file overall: medium. When you build your own notes on a firm, keep a list like this one — the gaps are more useful than the figures, because they tell you what to go and check.
Run the same exercise on another firm
PipMentor does not rank brokers, does not award badges and does not tell you where to open an account. This page exists so the arithmetic you learn in the curriculum has real numbers to bite on.