Our wallet review process
We examine wallets starting at the code level and continue all the way up to the finished app that lives on your device. Provided below is an outline of each of these steps along with security tips for you and general test results.
Application build test result
Update 2022-10-21: This app is not available anymore.
(Analysis from Android review)
NordFX is an “investing app.” Some of the primary features it advertises includes:
- Fast KYC for new clients
- FX, Metals, Cryptocurrencies to trade[…]
The description does not say much else about cryptocurrencies, and notably the official Twitter account refers to itself as an “ECN Forex Broker.”
We find two articles on the official NordFX website about CFDs.
While many brokers, frightened by high volatility, give up majoritarian cryptocurrencies trading, the brokerage company NordFX, has on the contrary provided its customers with a leverage ratio, exactly 1000 times (!) higher than their own funds.
Thanks to them [CFDs], in addition to currency pairs on Forex, you can work with stocks, stock indices, commodities and even cryptocurrencies. Trading accounts CFD are widely represented by the broker NordFX.
How can I fund my account? A trading account can be funded by a bank transfer, VISA and MasterCard cards, electronic payment systems (eg, WebMoney, QIWI, Skrill, Yandex.Dengi, Alpha-Click, etc.) or through an online exchange.
How can I withdraw funds from my account? You can withdraw funds by a bank transfer, VISA card and MasterCard, as well as a number of electronic payment systems (WebMoney, Skrill, QIWI, etc.) and currency exchange Z-Payment. Please note that the amount of the initial deposit can be withdrawn only to the same payment system, with which it was credited. The profit can be withdrawn to any payment system. Withdrawal by bank transfer is available in all cases.
We tried the app. The registration form required a surname and phone number.
We were given the option to verify our account using identification documents such as passport/ID Card and Proof of Residence.
There is seemingly no wallet, although you are given the option to Buy and Sell stocks.
You cannot send or receive cryptocurrencies on this app.
Tests performed by Daniel Andrei R. Garcia
Do your own research
In addition to reading our analysis, it is important to do your own checks. Before transferring any bitcoin to your wallet, look up reviews for the wallet you want to use. They should be easy to find. If they aren't, that itself is a reason to be extra careful.