company reviews
FXNICE

About company:

Founded in 2016, Fx Nice is a registered trademark of Venture Securities Limited, regulated by the Honduras Financial Services Authority (company ID 588121). It offers its clients more than 70 currency pairs, including cryptocurrencies, various precious metals, as well as energy carriers for trading on three types of accounts with the ability to use leverage up to 1: 500. Trading in micro lots is available.

 

Capital security

The company has international regulation of Honduras as well as segregated accounts. According to the data published on the website, client funds are completely separated from the company's operating funds and are stored in leading banks in the European Union and banks in Mauritius.

 

Moreover, Fx Nice operates on the SSL (Secure Sockets Layer) network security protocol, which guarantees the security of all customer transactions.

 

Trading conditionsMinimum deposit

Fx Nice offers three types of accounts: Mini, Standard and Premium. To open a Mini account, you need to deposit $ 100. To open a Standard Account, you need to deposit $ 2000. To open a Premium account, the minimum deposit is $ 5000. There is no demo account.

 

Average spreads and commissions

According to the website, the company offers spreads from 1 pip (on a premium account), from 2 pips (on a standard account) and from 3 pips (on a mini account). At the same time, in most cases, when working with Standard and Premium accounts, no commission is charged. When working on a Mini-account, the commission is $ 6.

 

If the client needs to make an urgent transfer in dollars or euros, the company will charge an amount equal to the local bank commission.

 

Minimum leverage

The company offers a maximum leverage of 1: 500 for all types of accounts, which is considered a fairly high indicator.

 

Trading platform

Fx Nice supports the industry standard MetaTrader 4 trading platform as well as MT5. Both of these platforms provide a wide range of tools and features a trader needs: a range of technical indicators, an advanced charting suite, a wide range of Expert Advisors (EAs) and an extensive backtesting environment.

 

Bonuses

There is no information on bonuses or promotions on the company's website.

 

Payment methods

Fx Nice offers its customers a variety of deposit and withdrawal methods: credit cards, Neteller (as well as Skrill) and bank transfer.

 

It is noted that the transfer to the card will not exceed 3 days.

 

Criticism of traders

There are very few reviews on this broker on the network, you have to believe on the word of information from the company's website. According to her, Fx Nice is completely reliable, transparent and profitable. Even too ...

 

Pros:

 

international regulation; a wide variety of trading instruments; MT4 and MT5 are available; training programs; long term on the market.

 

Minuses:

 

lack of a demo account; lack of bonus programs; lack of real reviews on the broker.

 

 

FXNICE is a company whose task is to provide intermediary services to traders. Brokers / Crypto exchanges provide access to currency / cryptocurrency trading, first of all. Also, many of them, if we are talking about brokers, give the opportunity to make transactions with company shares, bonds, commodities, precious metals, indices, cryptocurrency and other assets. A private person can make transactions with all these instruments only on a trading platform, access to which is provided by a broker or a crypto exchange.

 

In addition, thanks to such companies, an individual can operate in the market with amounts significantly exceeding the amount of his own funds. This is called the provision of leverage. For example, having a deposit of 1,000 USD with a leverage of 1:400, a trader can make transactions for 400,000 USD.

 

As well, the broker / crypto exchange opens access to analytics, auxiliary tools, trading signals. Without all this, modern trading is impossible.

 

What is the benefit of a broker / crypto exchange?  

 

FXNICE profits from traders' trades, usually in two main ways

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First – most common. Using spreads. This word refers to the difference between the best prices for buying and selling a certain asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between the broker and market users - another. The mediator takes the difference.

 

The second method is easier to understand. This is a fee for each operation performed. Most often it has a standard value, but can also be measured as a percentage.

 

Therefore, the company is interested in attracting as many clients as possible and that they conduct active trading.

 

The ways to deceive customers 

 

How honest brokers / crypto exchanges should work and how they work, we found out. And now let's look at how scammers act, they are also called kitchens.

 

The most common way to cheat – is to twist quotes. Broker / crypto exchange gives the trader quotes that differ from the real market. There is a substitution of data in order to make operations unprofitable. The deposit is reduced, and then completely reset. At the same time, the trader thinks that his operations were made on the market, but in fact – just on the site of scammers.

 

Bonus – traps. They are generously distributed for anything: registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money mixed with bonus money, it will be necessary to fulfill a number of actually impossible conditions. For example, to conduct trading operations in the amount of ten times more than the size of the deposit.

 

The User Agreement may also mask a clause that allows the broker / crypto exchange to dispose of the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.

 

Where do brokerage companies and crypto exchanges register?

 

One of the key points – it is the place of registration and regulation of the company's activities.

 

First let's talk about registration. As a rule, traders are more trusted by companies either from their own country or from an economically developed country, for example, a member of the European Union. Of course, compliance with UK law is reassuring, and compliance with the laws of an unknown island in the Indian Ocean does not mean anything to most at all.

 

On fact, most brokerage companies are registered offshore, and we are talking not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are popular offshore zones among companies. Registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.

 

If a trader has claims against such a company, then it is likely that he will have to deal with it in accordance with the laws of the same conditional Belize. It is possible to be physically present there at court hearings. And this is extremely expensive and difficult.

 

No is it worth running like fire from just the word «offshore»? As an answer, we will cite the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes with the help of offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.

 

And here we come to the second important point – this is the regulation of the broker / crypto exchange. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokering. So, in Russia it is the Central Bank of the Russian Federation. The trader can find permits on the websites of such authorities. But there are also supranational structures. For example, the International Financial Commission, which is an independent self-regulatory organization,   specifies disputes between its members – brokers and their clients.

 

If there is no information on the broker's website / crypto exchange about the regulation of its activities or license, then it is almost certainly a scammer. Or on the site there is data on some license issued by him, but this information is not confirmed anywhere else. Most likely, these are also scammers.

 

What else to look out for?

 

When choosing a brokerage company, or crypto exchanges, study its history. Look at the links to its experts. If one of the leading TV channels in the economic news for 5 years in a row refers to the opinion of the analyst of the broker in question – this is good. If the broker / crypto exchange assures that it has been working for 15 years, but there is no information about it on the Internet at all – this is bad.

 

It is important to pay attention to reviews about the company. And read them not only on the website of the broker itself / crypto exchange. In the kitchen, they will certainly be only praiseworthy. It is better to view as many sites as possible.

 

Pay attention solely to the specifics in the offers on the websites of brokers / crypto exchanges. Honest companies openly write about interest, spread size, minimum deposit, etc. Scammers lure loud streamlined phrases about a rich tomorrow, a stable income, mislead with incomprehensible terms about multi-sites, superfunctions and so on.

 

Specify the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers / crypto exchanges sometimes hold social promotions. Scammers will definitely not do this.

 

Therefore, the process of choosing a broker / crypto exchange is complicated. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich around the world

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