NM23

NM23 is an online trading brand registered in Hong Kong and launched on October 20, 2020. It operates under the umbrella of Emperor Financial Group, a division of the larger Emperor Group conglomerate. The broker’s official website is nm23.com. While the group has a presence in financial services, property, and retail, NM23 itself focuses on retail forex and CFD trading, particularly in precious metals.

Our records indicate that NM23 is not registered with any recognized financial regulator. The broker’s own marketing materials claim that its EMXpro brand is regulated by the St. Vincent and the Grenadines Financial Services Authority (SVGFSA), but this offshore license is considered weak and does not provide the same protections as a major-tier regulator. FXCanary’s scam risk score for NM23 is 51 out of 100, indicating an elevated level of risk for traders.

NM23 does not hold a license from any major financial regulator such as the FCA, ASIC, or CySEC. The only regulatory claim found on its website is the SVGFSA registration for its EMXpro brand. However, the SVGFSA does not supervise forex brokers in a meaningful way and is not considered a credible regulator for retail trading. Furthermore, our independent verification did not find NM23 as a regulated entity under any jurisdiction.

Given the lack of verifiable regulatory oversight and the elevated risk score, traders should approach this broker with caution. The Hong Kong registration is a business registration only and does not equate to financial regulation. There are no user reviews available to assess real-world trading conditions or withdrawal experiences.

NM23 offers a limited product range primarily focused on precious metals and forex. According to the website, clients can trade gold (XAUUSD), silver (XAGUSD), and Hong Kong gold (HKGHKD). The broker also mentions forex and CFD trading under the EMXpro brand. Leverage is available up to 1:200 for gold and HKGHKD, and 1:100 for silver. Contract sizes are standard: 100 units for gold and HKGHKD, and 5,000 units for silver.

The broker provides profit calculation examples on its site, indicating transparency in its pricing structure. However, the product offering is narrow compared to many competitors who offer hundreds of instruments. This may suit traders who specialize in metals but limits diversification.

NM23 appears to offer a single real account type with a minimum deposit of HKD 10,000 (approximately USD 1,280). This is a relatively high entry barrier for retail traders. The account is denominated in USD. A demo account is also available with a 31-day validity and virtual funds.

Account opening is completed online and requires personal identification documents. The broker does not offer different account tiers (e.g., Islamic, VIP, or professional accounts) based on available information. The minimum deposit may be a hurdle for small retail investors.

NM23 provides two trading platforms: a proprietary desktop and mobile application called Emperor Financial International Trader, and the popular third-party platform MetaTrader 4 (MT4) through its EMXpro brand. The proprietary platform supports order types including market, limit, and stop-loss, and features trailing stops. It also provides real-time news and reports.

MT4 is widely recognized for its advanced charting and automated trading capabilities. The availability of MT4 is a positive note for traders who prefer a familiar interface. However, the proprietary platform appears dated, with system requirements as low as Windows 2000 and a 2014 release date.

Funding methods include eDDA (a Hong Kong instant bank transfer service), credit card, FPS (Faster Payment System), bank transfer, cheque, and wire transfer. The broker promotes eDDA as a fast and free method, with funds credited within minutes. Credit card deposits may incur fees, while other methods are generally free. The minimum deposit is set at HKD 10,000.

Withdrawals are processed through the trading platform and typically take two business days. The broker deducts bank charges from withdrawal amounts. NM23 does not accept cash or third-party deposits. For Hong Kong-based clients, the deposit options are convenient, but international clients may face limitations.

NM23 offers customer support via phone, email, and WeChat. The website lists Hong Kong and mainland China phone numbers: (852) 2110 5615 and 400 120 1228. Technical support is also available for platform issues. The broker provides daily market analysis and updates on its website, covering precious metals and currency movements.

Educational resources appear limited to basic product descriptions and profit calculation examples. There are no webinars, video tutorials, or comprehensive trading guides found on the site. The support is primarily geared toward Chinese-speaking clients, as the site is heavily in Chinese.