Noor Capital PSC Forex broker review

Noor Capital PSC is a regulated investment advisory, asset management, and Forex and CFDs broker operating within the UAE. The broker has many negative reviews despite being launched back in 2005 indicating inefficiencies in its customer services. Noor Capital PSC is overseen by the Securities and Commodities Authority (SCA) of the United Arab Emirates, and the Department of Economic Development Abu Dhabi. The company is mainly focused on offering asset management and investment advisory services to institutional clients and is a horrible retail broker.

Noor Capital PSC Overview of the website

The website as anticipated for such a complex company contains many things and it makes it difficult to find exact details about the company as a broker. While responsive and simple in design, there are many little but crucial details omitted about the broker’s services. For example, it is difficult to find information about minimum deposit requirements, withdrawals, and account types. Unless the trader goes digging and browses the trading asset’s menu it is impossible to find details about leverage. There is no information given about spreads and commissions apart from 0.01 USD per share commissions for stocks.

Noor Capital PSC Accounts Reviewed

Noor Capital PSC offers retail and institutional accounts both demo and live. There are no different account types for different types of traders which is a huge disadvantage. This is especially a drawback for the broker as there are many reliable and time-tested brokers operating within the same region with much better accounts and low spreads. The broker is more focused on large clients and is not recommended for retail Forex traders because of its bad customer service. Different assets require different platforms which is not consistent for balanced general trading. The broker allows access to a handful of instruments including 60 Forex pairs, 2 precious metals, 2 energies, 9 indices, and only 70 share CFDs. All assets have 1:100 leverage excluding the shares. There is a commission for share trading with 0.01 USD per share traded and the minimum deposit is 50 dollars. The information is not clearly given about trading accounts and traders will need to search through pages for a long time. There is a FAQ section that takes time to search and there are no answers for all trading-related details. Overall, Noor Capital PSC fails to offer anything new or attractive when it comes to trading account types and is not worth the time and money.

Deposit and withdrawal options at Noor Capital PSC

Noor Capital PSC only accepts a handful of opinions for payments including bank cards and wire transfers with local banks in the UAE. The broker is almost unusable for international traders and there are heavy conversion fees charged if the trader does not open an account in the base currency. Withdrawals as expected from wire transfers and bank card payments are really slow and take several days to get processed, which is another inconvenience for Noor Capital PSC as a broker.

Noor Capital PSC Assets — What can you trade?

Noor Capital provides access to diverse markets including Forex pairs, indices, commodities, and equities. However, the number of instruments is very limited for each of those assets. The leverage is 1:100 and the minimum deposit starts from 50 USD or equivalent. There are around 60 currency pairs which is a decent number but only 4 commodities and 9 indices are provided. The number of share CFDs is also short at 70 and requires a commission of 0.01 USD per share which might get expensive when buying cheap shares.

Trading platforms of Noor Capital PSC

The broker provides access to several advanced trading platforms including MetaTrader 4, MetaTrader 5, and GTN. The MT4 and 5 are perfect for Forex and CFDs trading while the GTN is suitable for stock trading. All these platforms are also offered for mobile devices including Android and iOS. Web trader versions are also available, requiring no installation to trade. Mobile apps can be downloaded directly from the broker’s website.

Education at Noor Capital PSC

Noor Capital PSC provides diverse educational resources including a trader glossary, video education, and various trading courses. However, trading courses are paid and require registration which might not be suitable for all traders. The broker also offers numerous trading and market analysis tools including economic calendar, market insights, and various technical analyses. There are also trading signals offered.

Noor Capital PSC Customer Support

Noor Capital has poor customer support services as confirmed by numerous trader reviews. This is because the broker mainly focuses on institutional clients and has terrible support for retail traders and there is no live chat offered. While traders can request a callback, live chat is still a much more viable option as it offers a quick connection with the broker support team. There are email and hotline support options offered though which is not enough for quality support, as traders often need immediate solutions to their issues.

Noor Capital PSC bonuses and promotions

Noor Capital PSC does not offer bonuses or promotions. This is because the broker is mainly providing other services related to investment advice and does not care about its retail traders. While there is much trading educational content, there are no promotions and discounts on trading courses, making it expensive to learn trading at Noor Capital PSC broker.

Is Noor Capital PSC your broker? Final verdict

In the end, Noor Capital PSC falls short as a retail Forex broker due to limited trading options, poor customer support, and inefficient services. The broker may be suitable for large institutional clients but is not recommended for retail Forex traders at all. There is no live chat available and many traders complain about the broker having terrible customer support and trading services overall.

FAQs on Noor Capital PSC broker

Is Noor Capital PSC a good broker?

Noor Capital PSC is not recommended for retail traders due to poor customer support and limited trading options.

What is the minimum deposit at Noor Capital PSC?

The minimum deposit at Noor Capital PSC is 50 USD.

What can I trade on Noor Capital PSC platforms?

You can trade Forex pairs, indices, commodities, and equities on Noor Capital PSC platforms.