NSFX Review

Overview

Last reviewed: 11 September 2026

Verdict: NSFX is connected to a genuine MFSA-regulated Maltese investment firm, but it would not be our first-choice broker in 2026. The official nsfx.com domain has been identified by Malta's financial regulator as associated with the legitimate licensed business, and the underlying Maltese entity holds MFSA investment firm licence IS/56519. However, prospective clients should understand the company's regulatory history, recent legal-entity changes and relatively unclear trading-cost information before depositing funds.

NSFX should therefore not simply be labelled a scam. Equally, the existence of an MFSA licence is not enough on its own to make NSFX the obvious broker to choose.

Is NSFX legit?

Yes. The available evidence connects the official NSFX operation with a legitimate regulated financial-services business rather than an anonymous, unlicensed broker.

A January 2026 MFSA warning about an unrelated clone operation called iQpips is useful here. The regulator identified Alchemy Markets Ltd as the genuine licensed company and listed nsfx.com among its legitimate associated websites. It also identified company number C56519 and described the business as an investment firm.

That distinction matters because fraudulent websites have copied the regulatory details of NSFX and Alchemy Markets. A website displaying C56519 or IS/56519 is not automatically genuine.

The MFSA has also issued warnings about unauthorised businesses impersonating Alchemy Markets. A June 2026 warning again described Alchemy Markets Ltd as an MFSA-licensed company operating under investment firm licence IS/56519.

If someone claiming to represent NSFX contacts you from another domain, do not rely on the quoted company or licence number alone. Check the domain against the regulator's records.

Who is the company behind NSFX?

The corporate structure is more complicated than most NSFX reviews explain.

Historically, NSFX Limited became Alchemy Markets Ltd. NSFX's own website subsequently described NSFX as a trading name of Alchemy Markets Ltd, company registration C56519, regulated by the Malta Financial Services Authority under licence IS/56519.

Another change followed in 2026.

FDCTech, Inc., the parent company, disclosed that on 1 June 2026 the MFSA gave its no-objection to renaming Alchemy Markets Ltd to Crestmark Trading Ltd. The filing states that the change would not alter ownership, governance, capital position or regulated activities.

Alchemy Markets' current European website now identifies Crestmark Trading Ltd, registration C/56519, as the MFSA-regulated entity operating under licence IS/56519.

The important relationship is therefore:

NSFX → Alchemy Markets Ltd → renamed Crestmark Trading Ltd → MFSA licence IS/56519.

The company number and licence number provide a more reliable way to follow the entity than the brand name alone.

FDCTech also reported in 2026 that it owns the Maltese brokerage entity and described it as an MFSA-regulated investment firm serving European markets.

Is NSFX regulated?

Yes. NSFX is associated with a Maltese investment firm regulated by the Malta Financial Services Authority under licence IS/56519.

The MFSA has identified the underlying company as a licensed investment firm in warnings about clone websites.

Other European registers also show the Maltese entity operating across borders. The Bank of Lithuania lists Alchemy Markets Limited as a Maltese financial brokerage firm providing services in Lithuania without a branch. Cyprus's CySEC identifies the MFSA as the firm's competent authority.

What about NSFX's FCA licence?

NSFX's older regulatory history can cause confusion.

NSFX Limited historically appeared in Financial Conduct Authority records under reference 595195 as an EEA-authorised Maltese investment firm using European passporting arrangements. The historical FCA records confirm that status.

That reference should not be treated as proof that the NSFX brand currently has a standalone UK FCA brokerage licence.

For someone considering NSFX now, the relevant regulatory relationship is the Maltese entity and MFSA licence IS/56519.

Has NSFX or Alchemy Markets faced regulatory action?

Yes.

The Malta Financial Intelligence Analysis Unit imposed a €419,997 administrative penalty on Alchemy Markets Limited, formerly NSFX Limited, on 29 September 2023 following a compliance review conducted in 2019.

The FIAU notice identified shortcomings relating to anti-money laundering and counter-terrorist financing compliance requirements, including areas involving the company's business risk assessment and customer-risk processes.

There is important context.

FDCTech states that the 2019 examination occurred before its acquisition of the business. The company has challenged the penalty through Maltese legal proceedings and argues that aspects of the decision were unfounded or excessive. As disclosed in 2026 SEC filings, those proceedings remained ongoing.

So the accurate statement is not that NSFX has an unblemished regulatory record, nor that the 2023 penalty proves the current broker is fraudulent.

The accurate statement is:

The company formerly named NSFX Limited received a substantial AML/CFT-related administrative penalty following a 2019 compliance review, and the company has challenged that penalty.

That is relevant information for anyone assessing broker risk.

What can you trade with NSFX?

NSFX mainly targets forex and CFD traders.

Its product pages advertise:

• more than 50 forex currency pairs
• gold and other metals
• energy CFDs
• index CFDs
• commodities

Some parts of the website also display additional CFD market categories.

NSFX is therefore a leveraged trading provider rather than a conventional long-term investment platform.

What trading platform does NSFX use?

NSFX mainly promotes JForex.

The broker says its JForex account uses ECN and STP technology and is available on desktop, web and mobile. The listed order types include market, limit, stop, trailing stop, stop-limit and OCO orders.

That may suit traders who already use JForex.

If you are choosing NSFX because you want MetaTrader 4, MetaTrader 5 or another specific platform, confirm availability before opening an account. Third-party listings are inconsistent, while the official material reviewed for this article focuses on JForex.

How risky is trading with NSFX?

The main trading risk comes from the products NSFX offers.

NSFX provides leveraged forex and CFD trading. Its website has displayed a warning that 66% of retail investor accounts lose money trading CFDs with Alchemy Markets Ltd over the stated 12-month measurement period.

For retail CFD clients, the broker describes measures such as leverage limits, margin close-out rules and negative balance protection. Its website lists leverage of up to 30:1 for major forex pairs, with lower limits for more volatile markets.

Regulation can reduce some counterparty and conduct risks. It cannot prevent trading losses.

A regulated CFD account can still lose money quickly.

Is NSFX a scam?

There is not good evidence to describe the official NSFX operation at nsfx.com as a scam.

The MFSA has itself identified nsfx.com as associated with the legitimate Maltese investment firm.

However, there is an unusual complication around the NSFX and Alchemy Markets brands: scammers have repeatedly copied their company details.

The MFSA has issued multiple warnings involving businesses impersonating Alchemy Markets or using its registration and licence information. It previously issued a specific warning about nsfx.online, explaining that the site had no association with the genuine NSFX business.

The practical rule is simple.

A website displaying the NSFX name, C56519 or licence IS/56519 is not automatically genuine. Verify the exact domain against the MFSA's records before sending money.

This is more useful than asking whether "NSFX" in isolation is legitimate because clone brokers deliberately exploit recognised company names.

NSFX complaints and customer reviews

Online reviews of NSFX are mixed, but they are not a strong standalone measure of broker quality.

Reviews on broker websites include complaints about withdrawals and account handling, along with positive comments about trading conditions and the platform. Several samples are small, old or difficult to verify independently.

Regulatory records, legal-entity checks and a controlled withdrawal test provide stronger due-diligence signals.

If you plan to hold substantial funds with any broker, consider depositing a limited amount, completing KYC, trading minimally and requesting a withdrawal before increasing the balance.

NSFX pros and cons

The strongest argument for NSFX is that there is a real regulated company behind the brand. The biggest negatives are the regulatory history and the amount of entity and branding complexity a prospective client has to untangle.

Should you open an NSFX account?

NSFX can be considered if you specifically want its JForex-based offering and are comfortable dealing with an MFSA-regulated Maltese broker, but we would compare it against other regulated brokers before depositing significant capital.

The reason is not that NSFX appears to be an anonymous offshore scam. The evidence points in the opposite direction.

The issue is that choosing a broker is relative.

NSFX has a legitimate regulatory foundation, but a prospective client also has to factor in its historical FIAU penalty, corporate naming changes, inconsistent historical information across broker directories, clone activity and the need to verify current trading costs directly.

If another broker offers equally suitable execution and markets with clearer pricing, simpler legal-entity disclosure and the regulatory jurisdiction you prefer, there is little reason to accept additional uncertainty.

How to verify NSFX before depositing money

Before funding an account:

• Confirm that you are using the genuine NSFX domain rather than a clone.
• Check company number C/56519 and MFSA licence IS/56519 against current regulatory information.
• Read the legal entity shown on the account-opening agreement, particularly while the Alchemy Markets to Crestmark Trading name transition is being reflected across the group.
• Confirm spreads, commissions, funding charges, withdrawal conditions and platform availability for your specific account before transferring meaningful capital.

The domain check deserves particular attention because the Maltese regulator has repeatedly warned about businesses copying the licensed company's details.

Final verdict on NSFX

NSFX is a legitimate broker brand connected to a genuine MFSA-regulated investment firm, but it is not a clean enough proposition to recommend without qualification.

The strongest evidence in NSFX's favour is regulatory: Malta's own financial regulator has identified the underlying company as licensed and has recognised nsfx.com as one of the genuine associated websites.

The strongest reasons for caution are also concrete: the former NSFX Limited entity received a €419,997 FIAU administrative penalty, that dispute remains under legal challenge, the underlying legal entity has undergone another name change, and broker-directory information about NSFX is frequently stale or contradictory.

Our conclusion: NSFX is not an obvious scam, but regulation alone does not make it the best broker. Verify the exact entity and website, compare total trading costs against alternatives, and test deposits and withdrawals before committing substantial funds.

CFDs and leveraged forex products are high-risk instruments and can result in substantial losses. This review evaluates the broker and its regulatory position, not the suitability of CFD trading for any individual investor.