NebulaXC Review – 5 things you should know about NebulaXC.com

NebulaXC Review – 5 things you should know about NebulaXC.com

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NebulaXC is a forex broker which you may have recently heard of. You may be deliberating trading with them. In this review we will tell you five things you need to know before making your decision.

1. Will your funds be safe with NebulaXC?

NebulaXC is owned and operated by Clover Markets Ltd. The company has a license with the Vanuatu Financial Services Commission (VFSC). As you may have realized, if you have read any of our other reviews, regulation should be the most important factor when comparing forex brokers. An off-shore registration is generally considered a big red flag by us. We would not recommend dealing with them.

To further reiterate the point, a company with $2,000 can become a regulated broker in Vanuatu. The island nation recently became a hot-spot for shady brokers (and out-right scams), due to the ease of registration. More reputable regulators such as Australia’s ASIC, for instance, require capital holdings of at least AUD 1 million. They also require the clents’ funds be kept in segregated bank accounts – meaning the broker can’t freely access their customers’ investments.

2. What are the trading conditions at NebulaXC?

NebulaXC claims to offer floating spreads, with an average of 3 pips on EUR/USD. This is substantially higher than the contemporary industry averages. Nowadays most forex brokers offer spreads in the 1.0-1.5 range for this pair. Our test never saw the spread on EUR/USD fall below 2.4 pips during the most liquid session. The conditions are not competitive, but at least the company admits it on its website. Here is a table form it:

CURRENCY PAIR

24H AVERAGE SPREAD

EURUSD

3.0 Pips

USDJPY

3.1 Pips

GBPUSD

3.9 Pips

USDCHF

4.1 Pips

Gold

3.5 Pips


Other than the typical currency pairs, the company offers spot gold and silver as well as a few index CFDs. Their trading
conditions are what you would expect at this point.

NebulaXC offers leverage of 1:200. This is in line with most other brokers, although some offer even bigger ratios. That being said, a higher leverage ratio is not always a positive thing, as it can carry a bigger risk for your capital (or even generate losses, which are greater than it, when misused). Be sure to fully understand the risks involved with margin trading before you start doing it.

The company requires $500 as the initial deposit. This is above what other brokers are asking for. That being said, this should not be a big factor for you when choosing a forex broker. Solid risk management and an adequate account size are necessary in order to successfully navigate the dynamic global financial markets.

3. What trading platform does NebulaXC offer?

NebulaXC provides the well-established MetaTrader4 platform. It has proven itself, as the undisputed industry leader when it comes to currency trading. It has great charting capabilities and an easy to use automated trading environment. Even if you lack the coding experience, you could easily find an automated system (or Expert Advisor, as they are called in MT4) to suite your needs.

The platform does lack multiple monitor support which some veteran day traders may find frustrating.

4. What are the deposit and withdrawal methods?

NebulaXC offers few payment methods, which include:

  • Bank Transfer;
  • Neteller;
  • Bitcoin (via BitPay)

Keep in mind, international transfers may take several business days to process.

5. How good is the customer support?

The company offers live-chat, email and phone support, which is to be expected nowadays. The live-chat functionality was not active at the time of our review. A few parts of the website also fell a bit nonintuitive, but we have seen much worse.

Conclusion

NebulaXC is a forex broker, registered in Vanuatu. This immediately lowers their credibility. That being said, the trading conditions they offer are simply not competitive in today’s environment. The company may be honest i.e. not a scam, but it is still not attractive. We would not recommend trading with them.

NebulaXC Review – 5 things you should know about NebulaXC.com

NebulaXC is a forex broker which you may have recently heard of. You may be deliberating trading with them. In this review

Regulation & Safety 1.5
Minimum Initial Deposit & Trade Size 2
Cost of Trading (Spread & Commission) 1
Leverage 5
Editor’s Opinion 0
Summary
NebulaXC is a forex broker, registered in Vanuatu. This immediately lowers their credibility. That being said, the trading conditions they offer are simply not competitive in today’s environment. The company may be honest i.e. not a scam, but it is still not attractive. We would not recommend trading with them.
1.9
High spreads
User Rating : 0 (0 votes)

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