Nozax Review – Is It Safe? Fees, Regulation, and More

Is Nozax Safe for Traders?

Nozax is regulated by the Capital Market Commission (SCMN) in Montenegro under license number 03/2-5/5-21. While this provides a basic level of regulatory oversight, it is not regulated by more prominent authorities such as the FCA, ASIC, or CySEC, which may raise concerns about investor protection. Traders may not benefit from compensation schemes or other safeguards available with brokers regulated by these major authorities.

Nozax operates as an STP (Straight Through Processing) broker, meaning that it passes trades directly to liquidity providers without internal intervention. This is a positive feature for transparency, as it reduces the risk of conflict of interest. However, the lack of higher-tier global regulation leaves potential risks for traders, especially those seeking stronger financial protections.

What Are the Fees at Nozax?

Nozax has a competitive fee structure, especially in terms of commission-free accounts. However, understanding the specifics of its fee model is essential for traders:

NZX ZERO Account:

• Commission: $2 per side (In & Out)
• Spreads: Raw ECN spreads starting from 0.0 pips

The NZX ZERO account is designed for traders looking for low-cost trading with tight spreads and a commission fee per trade.

NZX CORE Account:

• Commission: $0 per trade
• Spreads: Institutional STP spreads

The NZX CORE account is ideal for traders who prefer no commission fees and institutional-level STP spreads, offering flexibility and cost-effectiveness.

NZX CENT Account:

• Commission: $0 per trade
• Spreads: Institutional STP spreads

The NZX CENT account is tailored for smaller traders or those who prefer trading in cent-based accounts, with no commission fees and institutional STP spreads.

What Are the Pros & Cons of Nozax?

Final Verdict – Should You Trade with Nozax?

Nozax offers a competitive trading environment, with various account types, including commission-free options and access to the powerful MT5 trading platform. However, the broker's regulation in Montenegro under the Capital Market Commission (SCMN) raises concerns for traders who prioritize stronger investor protection from top-tier global authorities.

Despite these concerns, the STP execution model and competitive spreads on accounts like NZX ZERO and NZX CORE make Nozax a viable option for traders looking for low-cost, efficient trading in Forex, Commodities, and Indices.

For those looking to trade cryptocurrencies or seeking a broker with robust global regulatory oversight, Nozax might not be the best choice. Traders should weigh the benefits of tight spreads and high leverage against the risks of limited investor protection due to its Montenegro-based regulation.