NOZAX

NOZAX AD is a brokerage firm registered in Montenegro, with its registered address at Ankarski bulevar 12, 81000 Podgorica. The company states it was founded in 2017 and offers trading in forex, indices, commodities, and shares. It operates under the regulatory oversight of the Securities and Exchange Commission of Montenegro (SCMN), holding a Derivatives Trading License (STP) with license number no 03/2-5/5-21.

Despite its recent establishment, NOZAX has built a presence targeting both local and international traders, with a particular emphasis on the Indonesian market through the availability of a cent account denominated in Indonesian Rupiah (IDR). The broker’s platform, MetaTrader 5 (MT5), is widely recognized in the industry and provides access to a range of instruments.

NOZAX is regulated by the SCMN in Montenegro, which is a European but non-EEA regulator. The license type is a Derivatives Trading License (STP), indicating that the broker operates as a Straight Through Processing firm, executing client orders directly to liquidity providers without intervention. The status of the license is listed as 'Regulated' on public registers.

It is important for traders to note that the SCMN is not as stringent as top-tier regulators like the FCA or CySEC, but it provides a baseline of oversight. The broker does not disclose any additional regulatory licenses from other jurisdictions, and we found no evidence of clone or impersonator sites. The FXCanary Scam Risk Score stands at 36/100 (Guarded), suggesting that while the broker appears legitimate, traders should exercise normal caution, particularly in relation to the isolated negative reviews.

NOZAX offers three account tiers designed to cater to different trading styles. The CENT account is aimed at beginners and those who prefer to trade small volumes, offering leverage up to 1:500 and zero commission on FX, Gold, and Silver. The CORE account is the standard option with the same leverage and commission structure, but includes indices and commodities alongside forex. The ZERO account is for experienced traders seeking tight spreads from 0.0 pips, charging a $2 commission per standard lot (in and out) on FX, indices, and commodities.

Minimum deposit requirements are not publicly disclosed, but the account types are accessible via the MT5 platform. The broker does not specify whether swap-free or Islamic accounts are available. Leverage of 1:500 is high and may not be suitable for all traders, particularly those with smaller capital.

NOZAX supports a variety of funding methods including bank wire transfer, Visa, Mastercard, and Skrill. The broker promotes fast and efficient processing, which is echoed in many positive user reviews. Withdrawal methods mirror the deposit options.

However, some negative reviews highlight instances where withdrawals failed or deposits were rejected with funds held, and the broker did not respond promptly. These incidents appear to be exceptions rather than the norm, but they are worth noting. The broker does not disclose any fees for deposits or withdrawals, nor does it specify processing times.

The broker provides the MetaTrader 5 platform, which is available for desktop, web, and mobile devices. MT5 is known for its advanced charting, analytical tools, and automated trading capabilities through Expert Advisors (EAs). NOZAX also offers a user-friendly dashboard and local language support for Indonesian clients.

While the platform itself is stable, the broker does not appear to offer additional proprietary tools or educational resources. The focus is on delivering a reliable MT5 experience with fast order execution, as noted in user reviews.

NOZAX seems particularly suited for Indonesian traders due to its IDR cent account and local support. The broker also appeals to traders who prioritize low spreads and fast execution, as well as those looking for a straightforward MT5 broker with a regulated status. However, the high leverage and limited regulatory oversight may not suit risk-averse traders or those from jurisdictions with stricter regulatory requirements.