A company is considered trustworthy only when they invest in developing their services and solutions in such a way that each of their clients is provided with the best possible conditions for trading, in accordance with his/her investment goals. This way they can avoid leaving unsatisfied clients who are happy to share their bedevilment with other potential traders.
In an already crowded market of forex brokers, new ones are appearing every day. It has been observed that most of them either aren’t licensed in major countries or have quick withdrawal timeframes. I’ve compared the NostraCapital forex platform with several competitors to see how it stacks up against its competition.
About NostraCapital Forex Broker
The first thing I’d like to mention about NostraCapital is that it’s a broker which has been around for a very long time now. Many people think that this is not a substantial indicator of a firm being competent enough but I believe the fast-moving market leaves you behind if you do not struggle to keep up.
The NostraCapital Forex platform itself has its own website but some users like me have had some minor issues with the overall look. There are also certain issues with usability which we’ll mention later.
There are two ways you can deposit money to your account – by credit card or by wire transfer (seems they have good relationships with mainstream banks). For withdrawals, NostraCapital provides bank wire along with Bitcoin transfers and Credit Card which is highly commendable because this reflects they want to make all procedures more convenient.
Now that we’ve covered what NostraCapital is all about, let us go through some of its pros and cons. Here are some of the advantages you’ll get while using this brokerage:
Low Spreads and Low Minimum Deposit
NostraCapital has low spreads on currency pairs and the minimum deposit amount is very reasonable for all the accounts keeping in mind their specs. While this doesn’t matter to a few people, it could be a huge plus for beginners who aren’t willing to risk a lot of money.
NostraCapital also supports other statistical indicators and tools that give you access to real-time data which helps you make well-informed decisions.
Traders can open trades with astonishingly high leverages up to 400 which gives an opportunity to win big despite relatively small initial stakes. A minimum deposit amount is only €250 but it works according to the account you pick. This is another appreciable feature because this way traders can choose a package which is right according to needs and budget.
Slow Chart Refresh Rate Is Great For The Young Lot
The charting software they use might not be the most modern one out there but it works good enough for most people. The problem is that it takes a while to refresh after your order is opened. That’s not something that will affect beginners if they’re armed with patience but more advanced traders who want to make 2 or 3 transactions per minute may find this frustrating.
NostraCapital’s development team is making an effort to make their brokerage more affordable for traders (that means charging less). Here are some of the costs related matters you should know while trading here:
- A small account holding fee of only a few dollars per month.
- Deposit amount worth a few dollars while opening the account
- No additional charges for deposits and withdrawals after VAT deduction
Responsive Customer Support
It may sound far-fetched but it’s true in this case. NostraCapital has amazing customer service reps who’re always willing to help with issues related to trading, deposit and withdrawal. I’ve also noticed that they don’t mind if you bounce between them every couple of minutes with questions. That’s simply awesome because trading platforms can be very complicated and beginners may find it hard to understand the ins and outs.
Online Trading Room
The NostraCapital Forex platform has an awesome 24/7 support desk that will help you out with anything related to trading. Since many people suffer from issues related to their internet connection, they’ve also added a live chat option for those who want to talk while browsing the online trading room.
Minimal/No Restrictions On Trade Types
Unlike many forex brokers who limit certain types of trades or require special requirements for traders, NostraCapital has no such limitations. That means you could open any kind of position whether it’s a high or low leverage trade, whether it’s a scalping strategy or an end-of-day approach.
Many platforms have this issue, including major players. You may execute a trade but the price is updated at the last second and you end up with one less pip profit than expected. It does happen rarely but at NostraCapital there are no issues like that because they don’t use such erroneous requoting methods.
There Are No Hidden Fees
It’s not often that trading platforms advertise about this issue but it’s very important for traders because they want to know how much money they’ll actually make after a trade is closed. NostraCapital has one of the most up-to-date fee schemes of any broker on the market which means you’re always aware of how much commission you’re going to pay before closing a position.
I’ve tested NostraCapital forex trading on several occasions and I was never let down. There were no major issues with the platform although there have been a few minor hiccups in the past most of them happened when I logged into my account after a very long period of absence. Just refresh your browser and you’ll be fine.
Advantages are based on my own personal experience, research and knowledge for that specific method.
Although there are many upsides to NostraCapital, here are some downers which you need to know beforehand:
The Platform Needs To Facilitate The Non Readers
Educating a trader has become a huge area that is being emphasized a lot these days. The traders need to be updated and made aware of the changing trends and concepts so that they can modify their working methodology and never fail to keep up. For this purpose, they have introduced a well laid out education segment but it does not have any video lectures. People are not in the habit of reading these days and to educate the broker is expected to take measures like arranging more webinars, conferences, introducing a channel or maybe a blog section. Adding video lectures is another option.
No Mobile App
This is another downside for active traders who need to check their positions while they’re away from their PCs (not everyone can afford an iPad). NostraCapital doesn’t have any mobile application yet so it’s really going backwards in that department when compared with most other firms
The No Deposit Bonus Is Relatively Low
Deposits begin at €250, which isn’t too much for a newbie but if you’re experienced and don’t want to risk your money, €250 may seem like an insignificant amount after all. There isn’t really anything bad about it except that there are some competitors who offer higher bonuses. But we shouldn’t forget that trading conditions would have been far worse without any no deposit bonus at all.
Lack Of A Demo Account
While the platform itself is very good and there are enough analytical tools available for traders who want to improve their trading skills. Unfortunately, you do not get a demo account. This does not go in the favor of the new traders but there are a few indicators that could help in certain situations. Such features allow the naïve ones to learn fast so this should be worked on.
Email Verification Issues
This isn’t really an issue with the platform itself because NostraCapital follows all laws related to KYC verification. There are a few users who have somehow got their email address blacklisted and they get emails from the broker as if they were spam, so you may want to try using an alternative address when signing up!
NostraCapital Review – Final Words
To get the full picture about NostraCapital Forex broker, one needs to know how it’s wise to use this platform:
It’s wise to use this platform for medium-term profiting (e.g., day trading) – The broker’s spread is not as narrow as most of the competitor’s nor do they have tight leverage but the trades are still fast enough for scalpers. Beginners should use it for testing purposes before trying other platforms – NostraCapital has better customer service and is easier to get started with compared to many other brokers in the industry which means you can learn how to trade without feeling scared all the time. Experienced traders will find a place here too – This brokerage may be lacking when it comes to a large number of language options but it’s still a good choice if price/liquidity is your primary concern.
Disclaimer: This review is written from my own experience and my self-knowledge only and this is not a recommendation.