The protagonist of this review, NPBFX is truly unique as it has been operating since 1996. For most of that time, it worked through a licensed Russian bank. Today the broker serves clients all over the world. Obviously, the company has nothing to do with scammers. Anyway, let’s check this out!
- NPBFX General Information
- Registration and Client Portal Review
- NPBFX Trading Conditions
- Account Types Review
- Trading Platform
- NPBFX — Deposit and Withdrawal of Funds
- Verification
- Education and Analytics
- Promotions and Partnership
- Is NPBFX a Scam?
- Legal Information and License
- Npbfx.com Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
NPBFX General Information
| Website |
|
| Phone Number | +44 800 069-84-70 |
| client.trading@npbfx.com, client.payments@npbfx.com | |
| Address | Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, Saint Vincent and the Grenadines |
| License | — |
| Minimum Deposit | $10 |
| Assets | Forex (currency pairs), CFDs |
| Leverage | From 1:200 to 1:1000 |
| Trading Platform | MetaTrader 4, NPBFX Trader |
Registration and Client Portal Review
At first glance, the official website is beyond doubt. NPBFX immediately states that it has been providing services since 1996. The menu consists of many sections and tabs that describe in detail various aspects of the broker’s activities.
Below, the company lists its advantages, indicates quotes that are updated in real-time, and posts the latest news. Summing up, the NPBFX website makes a positive impression: a user-friendly interface, competent texts, relevant infographics, and a variety of information. Well, it’s time to take a look at the client portal.
Enter your personal and contact details. The system will send confirmation codes to the specified email address and phone number. To complete the registration process, both codes must be entered. The password will also be sent to you.
Like the official website, NPBFX’s client portal inspires confidence. In fact, the trader has access to all the same standard options that are found with other brokers. There are verification, account operations, and payment transactions.
Please note that the company provides a demo account, promotions, and analytics on a separate portal. If necessary, the user can contact support via online chat.
NPBFX Trading Conditions
It should be assumed that a broker with such an impressive experience offers truly unprecedented conditions. Or at least pretty attractive ones. Let’s look at this.
Account Types Review
NPBFX offers 3 tariffs with clear terms. They have the same list of trading instruments and additional services.
| Terms | Master | Expert | VIP |
| Minimum deposit | $10 | $5,000 | $50,000 |
| Lot size | 1000 | 10,000 | 10,000 |
| Spread | From 0.8 | From 0.6 | From 0.4 |
| Leverage | 1:1000 | 1:200 | 1:200 |
It is obvious that accounts are differentiated mainly by the size of the deposit. By the way, the euro and the Russian ruble can also be the currency of the account.
According to NPBFX, it receives liquidity from world-famous banks (such as JPMorgan) and ECN. Clients can use advisors, scalping, hedging, and any strategy that can increase trading volume.
Trading Platform
NPBFX says that it uses MetaTrader 4 for trading. It is available for Windows, macOS, iOS and Android and also works in browsers. In your client portal, you will find links to download the terminal for any system or device. In addition to MetaTrader, the company offers several other web platforms.
First of all, it is NPB Invest. With it, you can automatically copy the deals of successful traders. Also here are:
- ZuluTrade (a social trading platform)
- MyDigiTrade (a trade copy service)
- Myfxbook AutoTrade (an analytical tool for successful Forex trading).
All listed services are third-party products and require additional registration.
Let’s get back to MetaTrader. To access the web terminal, you have to open a demo account to get a username and password. First, select an account type: Master, Expert, VIP, or Standard Cent. Next, choose a currency, leverage, and set a custom balance amount.
As a result, the system will issue a login and password to enter MetaTrader. You can use the Web-platform or download the software to your device.
The demo account is shown in the screenshot. MetaTrader 4 functionality is standard; NPBFX has not added any changes.
NPBFX — Deposit and Withdrawal of Funds
Ways for depositing and withdrawing funds:
- Bank cards
- Electronic payment systems
- Wire transfer.
Among payment methods, great attention is paid to transfers in Southeast Asia and the Middle East. NPBFX does not charge fees, excluding fees for withdrawals via wire transfer. Besides, the customer’s bank may charge its commission.
Verification
The broker does not describe the verification process. It is only mentioned in the AML/CTF Policy. However, in the client portal, the system asks you to upload documents to access all functions.
To do this, you will need:
- Proof of identity
- Proof of residence.
The deadline for checking the documents is unknown.
Education and Analytics
As a training, NPBFX offers a demo account, the presence of which is not something supernatural. A more attractive and useful offer is the portal with more than 60 trading strategies. Each strategy is analyzed in detail on a specific example in the terminal.
The strategy guide is part of a large analytical portal. Here NPBFX offers:
- Daily market reviews
- Trading signals for all instruments
- Weekly video forecast
- Economic calendar (including interest rates of state banks and dividend payments of the largest joint-stock companies)
- Strategies (as we mentioned above)
- Various calculators and historical charts.
Finally, you can contact an independent qualified analyst for any trading questions. All this is really very useful for both beginners and experienced traders.
Promotions and Partnership
Also, NPBFX pays great attention to promotions and marketing. So, its proposals include:
- Loyalty program (cash and material gifts for the volume of transactions)
- Cashback up to 60% of the spread (just deposit $100)
- Compensation of loss (up to half of the deposit amount)
- Welcome deposit bonus up to 30% when transferring an account from another broker
- Demo account contest with a prize of up to $1,000.
Of course, you can become an NPBFX partner. The referral program provides for commissions up to $19 per lot or a one-time payment of up to $900 when you refer a client.
Is NPBFX a Scam?
Now let’s try to analyze the history of NPBFX, as it has been operating for over a quarter of a century. Is it possible to consider it dangerous?
Legal Information and License
Probably any potential client, after getting acquainted with favorable trading conditions, will think about whether NPBFX is regulated. Unfortunately, the answer to this question is “no”.
Unlike many scammers, the company describes in detail the history of its activities. Until 2016, customer service was carried out on behalf of the licensed Russian bank JSC “Nefteprombank”. Then, for some reason, the broker came under the management of NPBFX Company. In the same year, it became a member of The Financial Commission.
Please pay attention! Since 2016, the firm did not belong to the bank and was not licensed.
Just in case, we decided to inquire about JSC “Nefteprombank”. It turned out that in 2021 the Central Bank of Russia revoked its license, declared it bankrupt, and appointed a provisional administration. So you can forget about this thread of the story.
What happened to NPBFX? According to the website, it is operated by NMarkets Limited, which is registered in Saint Vincent and the Grenadines. The FSA registry reports that this legal entity was created in 2018. Again and again, we remind you that the Grenadines do not in principle license forex brokers.
The second management company, NPBFX Limited, is registered in Belize and is also not licensed. Besides, the Belize registry does not disclose the company’s founding date. As a result, we cannot judge the legal status of the broker from 2016 to 2018.
The last guarantee that the project can offer is membership in The Financial Commission and compensation up to 20,000 euros per trader. NPBFX has been a member of this organization since 22.12.2015.
However, it states that it is not regulated by or registered with as an EDR body in any jurisdiction (https://financialcommission.org/about/what-we-do/). We do not think that such an ephemeral organization can better protect the rights of clients than a government financial regulator.
Npbfx.com Domain Info
The broker claims to have been operating since 1996. Obviously, the site came later, but how big is the difference?
The domain name appeared in 2014. The Internet Archive took pictures of it in January 2016. Apparently, the firm previously worked on the online resources of Nefteprombank.
By the way, 6 years after the break in relations with the bank, most of the broker’s clients are still from Russia. Meanwhile, NPBFX continues to expand internationally. We have discovered many domain names:
- npbfx.org (marketsnpb.fxofficial.org)
- npbfx.biz
- npbfxofficial.com
- npb-indonesia.com.
And probably others. Some are no longer working; others are focused on the Russian market. The third ones have been registered recently.
Contacts Review
Communication methods are standard. They include a single international phone number, a couple of email addresses, and a live chat. Social networks are missing or not listed.
Pros and Cons
- Impressive work duration.
- Demo account.
- Powerful analytical portal.
- No license.
- Offshore registration.
- Multiple domains.
- Few ways to get in touch.
- Communication with major liquidity providers has not been confirmed.
Speaking of guarantees, NPBFX can only boast of offshore registration, lack of a license, and a certificate from a suspicious online project (The Financial Commission). The broker puts a lot of effort into customer service; however, we think the scam is real here.
Frequently Asked Questions (FAQ)
No. The broker only has a certificate from The Financial Commission, which allegedly resolves disputes between the company and clients.
The line of accounts allows you to trade with 10 dollars or euros. Or with 500 Russian rubles.
We assume that in this case, you need to contact the support operator and apply to The Financial Commission. Whether this will help is unknown.
Now I know they are scammers
I opened the account on the recommendation of a friend, so unfortunately I did not read the reviews. I thought NPBFX was a reliable broker since it has been on the market since 1996. When requested from the site for feedback, the manager contacted me the next day. Technical support always worked quickly. At first, I put a small amount on the withdrawal. They processed it within 6 days. Then, when I put in 3 more applications, they began to ignore me. The manager who spoke to me is gone. I wrote via email, but more than a week passed, and nothing was answered, so I made a request for feedback on the site. Complete disregard.
Contest results may be fake
I have been working with this broker since about 2020. I have made more emphasis on the affiliate program. There were no problem with the withdrawal. I’ve first contacted the manager and then I’ve applied for withdrawal. Also, every month the company holds a contest. I even once got into the prize-winners, although the prize was not paid to me. They said that I made a mistake and broke the rules, although I didn’t seem to break them.
Looks like a scam
I traded here for a while and decided to withdraw some part of the deposit. It has been 7 working days, and the broker has not withdrawn money. In the conditions, it was said that the withdrawal is already long from 1-5 working days. I have already passed enough time, but I do not see the money. The application just hangs unprocessed for 7-8 days. Managers don’t get in touch.