NebulaXC offers forex trading through a single account type. A few CFDs on major equity indices are also included, as well as spot metals.
The Company. Security of Funds
NebulaXC is owned by Clover Markets Ltd. which is registered in Vanuatu. We typically don’t recommend dealing with off-shore brokers, as the regulation in those jurisdictions may not be decent.
Reputable financial regulators like FCA UK impose rules on certain aspects of a broker’s activity. For instance, segregated accounts are a popular rule with watchdogs. If a company operates with segregated accounts, it can’t spend its clients’ investments, but has to keep the funds in a separate account.
Vanuatu has recently became a hot-spot for new brokers, as the local regulators are very friendly. The VFSC requires only $2,000 in capital, for one to register a forex broker with them. This does not inspire trust.
Minimum Initial Deposit
NebulaXC requires a minimum of $500 for a client’s initial deposit. This is higher than what most brokers demand nowadays. Even some well established brokers like IG require onlyl $1 to start trading. Keep in mind this should not be a major factor for you, as trading successfully requires more capital and a solid risk management plan.
Average spreads & Commissions
NebulaXC offers floating spreads averaging around 3.0 pips on EUR/USD. Our testing during one of the most liquid sessions never saw it fall below 2.4 pips. This is quite a bit over the industry standards with most broker offering around 1.0-1.5 pips for this pair. You may look up a comparison of real-time spreads of 15 leading brokers here.
NebulaXC offers a maximum leverage of 1:200. This is relevant to the current offers by other brokers, with some offering 1:500 or even 1:888.
Keep in mind that trading with higher leverage is more risky. Your profits will be amplified, but so will your losses. This is why some regulators plan to limit maximum leverage levels, offered by brokers. The US NFA has set the cap at 1:50.
NebulaXC offers the popular MetaTrader 4 (MT4) platform. It has proven its capabilities for years, and many traders enjoy it. The charting package is solid and the automated system environment is the best in the industry. People can deveolpe their own systems (Expert Advisors), or browse the ones others have created.
One of the downsides of the platform is the lack of multiple-monitor support – a feature which seasoned day traders will surely miss.
Methods of Payment
NebulaXC offers a few deposit and withdrawal methods. They include: Bank Transfer, Credit/Debit Card, Neteller and even Bitcoin (via BitPay). Keep in mind international bank transfers may take several business days.
NebulaXC is a forex broker registers in Vanuatu. Local regulation (VFSC) may be better than nothing, but is still below our standards. That being said, the trading conditions are also not attractive, with spreads being higher than the current norm.
NebulaXC Review Conclusion
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