Today, we take a closer look at a stock/Forex/CFD broker that invites clients to build their future together with them. However, the company’s offerings are far from unique. The website is filled with the usual over-the-top promises of “limitless opportunities,” “professional trading conditions,” and “absolute security.” But any experienced trader will recognize within minutes that this is just another scam. For those who are unsure, here’s our NRDX review.
Key Features
- Company Name: NRDX PTY LTD
- Website: https://www.nrdx.com/
- Available Contacts: [email protected]; +35725775500
- Foundation: 2023
- Services: Forex/CFD trading
- License: FSCA (South Africa) № 49648
- Initial Deposit: $50
From Sign-Up to Payout
At first glance, the official NRDX website makes a good impression. The developers have stepped away from standard design templates, using eye-catching color schemes and thematic images.
If only the company’s content managers had taken the same approach, traders would have been much happier. Unfortunately, they also decided to ignore the industry standards set by regulated brokers (or rather, by financial regulators), but in doing so, they made critical mistakes. For example:
- The company boasts about the benefits of stock and CFD trading through its platform but only briefly mentions the available markets without providing any real details. There is no clear list of trading instruments, let alone specifications or stock characteristics.
- Analytics and educational materials? According to NRDX, these are a luxury visitors shouldn’t expect. They don’t even provide resources in the client area, apart from a dividend payout calendar. While useful, it certainly doesn’t replace full-fledged market analysis tools.
- The website features chat icons for support via Telegram and WhatsApp. However, these communication channels are not directly accessible — users must first log in to send or receive messages. From our perspective, such restrictions seem at the very least suspicious.
The NRDX website is filled with such issues. While there are fewer in the client area, that doesn’t mean things are any better. For example, for non-trading transactions, users are offered payments via bank cards, crypto wallets, and Google Pay. However, only cryptocurrency transfers actually work. In other cases, after submitting payment forms, clients are simply redirected to customer support.
Overall, the company’s website does not resemble the informative resource of a regulated broker. The listed problems are far more typical of scam operations.
Our Trading Experience With NRDX
The broker heavily promotes its proprietary WebTrader platform, claiming it offers everything a trader needs: an intuitive interface, high performance, and advanced analytical tools. To verify these claims, we tested the platform ourselves.
To be fair, there are a few good ideas. For example, the dashboard displays a list of assets in the main workspace with quick trade execution. However, the drawbacks significantly outweigh the advantages:
- No price chart visibility. Charts only open in a separate window after clicking on a ticker, closing the main workspace in the process. This setup makes quick multi-asset trading practically impossible.
- No trade levels displayed on charts. Without visible stop-loss or take-profit levels, traders cannot properly manage their positions.
- Limited analytical tools: The platform offers just six technical indicators, with no drawing tools for graphical analysis. Generating quality trading signals under such conditions is nearly impossible.
Add to this the lack of a multi-chart mode, no built-in tools for developing custom indicators or trading bots, and the need to manually configure the platform at the start of every session, and you get a complete picture. Is this platform user-friendly? Does it help traders achieve profitable results? The answer to both questions is clearly no.
NRDX also promotes its mobile apps for Android and iOS, which are available in app stores without requiring registration for download.
However, these apps pale in comparison to the broker’s second platform — MetaTrader 5. MT5 is available in all versions: web, desktop, and mobile. Why NRDX pushes its inferior proprietary platform by default is unclear. One possible explanation could be that it is designed for spot stock trading, but MT5 already supports reliable exchange gateways. In reality, there is no reason why MT5 wouldn’t outperform this software in every aspect.
Important note! Everything NRDX claims to be its own proprietary software is, in fact, not unique. We have seen these same trading platforms offered by several other brokers, suggesting they were developed by a third-party company. Why mislead traders while also violating the intellectual property rights of the actual software creators?
We also have concerns about trading conditions, which the company calls “designed by experts.” NRDX offers three account types for trading in real stocks:
- Basic — minimum deposit of $500.
- Intermediate — minimum deposit of $2,500.
- Premium — minimum deposit of $10,000.
There are also two types for FX/CFDs trading: Basic ($50) and Premium ($500). The table also includes trading commissions and overnight swap fees, allowing traders to estimate trading costs. Additional details can be found on the Trading Conditions page.
Now, here are our key questions:
- What does the company actually mean by “raw spreads” and “competitive spreads”?
- Who provides capital protection of up to $20,000, and what official documents confirm this?
- Which insurance company covers trader losses up to $100,000, and why hasn’t NRDX published a copy of the insurance policy? Why is this feature mentioned on the homepage but missing from the main account type table?
The information on trading conditions appears, at the very least, inconsistent. The most puzzling issue is that the leverage ratios shown in the platform differ from those displayed on the website. Naturally, customers will trust the numbers they see when executing a trade. So why post misleading figures on the website in the first place?
The Reality Check
In its Terms & Conditions, the broker claims to be registered and licensed. It states that it belongs to NRDX PTY LTD, a company registered in South Africa and regulated by the FSCA under license number 49648. A verification confirms that this firm does exist.
The company was indeed registered in 2017 under number 2017/257026/07 and obtained a regulator’s license on October 11, 2018. However, upon examining the broker’s history in detail, we found that in late 2023 – early 2024, NRDX was presenting completely different information. At that time, the website stated that the broker belonged to GMBB Investment Ltd, a company licensed by the Mauritius FSC under license number GB22201139. Interestingly, this firm is still mentioned in the Terms & Conditions, but now as a market maker and counterparty for clients’ trades (its registration and license are confirmed in the Mauritius registry).
This creates a highly suspicious picture. The broker shares its name with a South African company that has been registered since 2017 and authorized as an FSP since 2018. However, it also provides services on behalf of a Mauritius-based company created in 2023, which also holds a license. At some point, NRDX shifted back under the South African entity, yet it continues forwarding client orders to the Mauritius-based firm for execution.
Without further clarification from NRDX, the reasoning behind these movements remains unclear. However, this raises serious doubts — everything suggests that the broker isn’t actually registered or licensed anywhere, but instead borrows the names of real companies to appear legitimate.
How Long Has NRDX Been in the Game?
We believe that checking how long NRDX has actually been active online will help uncover the truth. To do this, we turned to an independent source — WHOIS, which provides domain registration dates.
Unfortunately, things turned out to be more complicated. The nrdx.com domain was originally registered in July 2011. However, Web Archive snapshots reveal that the broker only started operating on this domain in mid-2023, following the last recorded significant update.
This raises an important question: did the South African company really wait six years to launch its brokerage services? That seems highly unlikely. Instead, we suspect that the actual operators of NRDX are skilled fraudsters who manipulate data to appear more legitimate. These findings only reinforce our doubts — we still believe this company is hiding behind the names of real businesses.
Extra Fraud Indicators
Given the supposed longevity of NRDX, we expected to find a large number of broker reviews online. However, the reality is quite different.
Yes, there are some reviews — 39 on Trustpilot and 34 on Reviews.io — but the situation seems highly suspicious. Every single post praises the broker (out of 73 reviews, not a single negative one), and all of them appeared only in 2025.
It looks as if the broker took a long break from operations and then relaunched in 2025 with a flood of paid positive reviews to build credibility.
Moreover, there is barely any coverage of the firm on news sites, finance blogs, or social media. We found just a handful of articles about the broker, most of which appear to be sponsored content praising NRDX. Only a few authors have objectively pointed out its major flaws.
Is NRDX the Right Fit?
The materials included in our NRDX review lead us to conclude that this is a fraudulent project. Although the broker provides details about its official registration and license, the credibility of this information is questionable. Additionally, its proprietary trading terminal hardly deserves any praise, and the trading conditions raise more questions than answers. Therefore, sending money to this platform is unsafe, as there is a high risk of a scam.
I tried trading with NRDX, and I saw absolutely nothing good about it! First, what’s written on the website does not match what you see in the trading terminal. The company’s representatives claim that trading costs are minimal, but in reality, you end up paying nearly 10% of your profit per trade.
Second, hidden rules suddenly appear after you’ve already started trading. For example, some strategies are banned, even though this was never mentioned before. On top of that, orders sometimes open on their own, or protective stop orders disappear completely. Support blames this on ‘technical failures’ and refuses to take responsibility — but the money is gone from your account.
Honestly, this seems like a total scam. Be extremely careful with them.