Nordenex has been flagged by The Dutch Authority for the Financial Markets for "Unregistered/Unlicensed entity offering financial products or services". The Netherlands Authority for the Financial Markets (AFM) warns consumers not to respond to offers from Nordenex . This company is a suspected boiler room, a form of online investment fraud. Nordenex has approached persons without being asked, to offer them investment proposals. A boiler room is ... This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Nordenex recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Regular platform improvements|Good analytical tools|Multiple order types|Clean UI
Cons: None so far
My withdrawal request from Nordenex has been pending for over two weeks now. Every time I contact support, I get the same copy-paste response about processing times. This is unacceptable for a financial platform in this day and age.
Pros: Comprehensive tools|Multiple order types|Regular platform improvements|Smooth onboarding
Cons: Could offer more webinars
Nordenex changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Tax reports included|Instant funding
Cons: Some tools only available on higher tiers
I want to warn everyone about Nordenex. They have been flagged by The Dutch Authority for the Financial Markets as an unauthorized entity. I wish I had checked before investing. They use high-pressure sales tactics and fake testimonials. Once you send money, getting it back is nearly impossible.
Pros: Professional looking website
Cons: Blocked my account|No legitimate license|Fake returns
Nordenex locked my account without warning and demanded documents I had already submitted. for over a year later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Clear documentation|Automated trading options
Cons: Live chat only during business hours|Limited cryptocurrency options
My withdrawal from Nordenex was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. since the beginning of the year of being strung along.
Pros: Stable platform|Good analytical tools
Cons: Onboarding videos are outdated|Inactivity fee applies after 12 months
I requested my data from Nordenex under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.
Pros: Responsive team|Instant funding|Competitive fees
Cons: Could offer more webinars|Help articles are sometimes vague
Several red flags with Nordenex: (1) They promise unrealistically high returns, (2) They're not registered with The Dutch Authority for the Financial Markets, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Not registered with regulators|Unrealistic promises
I gave Nordenex a fair chance. After for over a year of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.
Pros: Competitive fees|Economic calendar|Automated trading options|Fast support response
Cons: Nothing significant
I experienced a security concern with my Nordenex account and reported it immediately. Their response time was inexcusable for a financial platform. It took them four days to acknowledge my report and another week to actually address it.
Pros: Copy trading available|Intuitive for beginners
Cons: None so far|Could offer more webinars