WHAT IS NOOR CAPITAL?
Noor Capital is a prominent forex and multi-asset broker that was founded in 2001 and is headquartered in London, UK. With a legacy of over two decades in the financial services industry, Noor Capital has established itself as a trusted provider of investment solutions, catering to both retail and institutional clients globally.
Regulated by some of the most stringent financial authorities, Noor Capital holds licenses from both the Financial Conduct Authority (FCA) in the UK and the Securities and Commodities Authority (SCA) in the UAE. This dual regulation not only underscores Noor Capital’s commitment to maintaining high standards of financial integrity and transparency but also provides a robust layer of protection to investors’ funds.
The broker’s regulatory status in these major financial hubs allows it to offer a secure trading environment, where clients can trade a wide range of instruments ranging from forex to commodities, indices and more. The strong regulatory framework also ensures that the operational practices of the broker are regularly audited and comply with international standards.
This strategic positioning and regulatory oversight have enabled Noor Capital to develop innovative trading solutions that cater to a diverse clientele, helping them to navigate the complex world of financial markets with ease and confidence.
INTRODUCTION
Noor Capital operates through two main divisions: Noor Capital UK and Noor Capital UAE, enhancing its reach and capabilities within the global financial markets. Established in 2001 with its headquarters in London, UK, Noor Capital has grown into a reputable entity in the financial services industry, recognised for its robust regulatory compliance and broad array of trading options.
The broker’s extensive portfolio of financial instruments is designed to cater to the diverse needs of its global clientele, encompassing both individual and institutional investors. Clients of Noor Capital have access to a comprehensive range of markets including forex, indices, commodities, equities, ETFs and futures.
Noor Capital’s dual operation under Noor Capital UK and Noor Capital UAE not only emphasises its global outreach but also reinforces its commitment to adhering to the highest regulatory standards imposed by both the FCA in the UK and the SCA in the UAE. This strategic structure supports Noor Capital’s mission to offer secure, reliable and comprehensive trading services worldwide.
The broker leverages advanced technological platforms to ensure that all clients, regardless of their market focus or geographical location, receive real-time data, swift execution and a user-friendly trading experience. This approach underscores Noor Capital’s dedication to empowering traders with the tools and resources needed to achieve their investment objectives effectively.
PROS & CONS
PROS
- Regulated by the Central Bank of the UAE.
- Offers a wide range of trading instruments.
- No inactivity or withdrawal fees required.
- Low commission charges.
CONS
- Lower leverage of 100:1 is available.
- Only one trading platform is available.
TRADING INSTRUMENTS
Noor Capital provides a comprehensive suite of trading instruments across multiple asset classes, enabling traders to diversify their portfolios and access various markets from a single platform. Here’s a closer look at each type of instrument available:
Forex
Noor Capital offers a wide selection of currency pairs, with over 60 pairs available and encompassing major pairs like EUR / USD, GBP / USD and USD / JPY, as well as a variety of minor and exotic pairs. This market is renowned for its high liquidity and 24-hour trading opportunities, making it a favourite among traders looking for flexibility and high volume.
Indices
Traders can access major global indices through Noor Capital. This includes benchmarks like the S&P 500, the FTSE 100 and the Nikkei 225. Trading indices allows investors to speculate on the overall movement of national economies without the need to analyse the performance of individual companies.
Commodities
The broker offers a diverse range of commodities trading options which include precious metals such as gold and silver and energy commodities like crude oil and brent oil. Commodities are popular among traders looking to hedge against inflation or diversify beyond traditional financial instruments.
Equities
Noor Capital provides the ability to trade equities from major stock exchanges around the world, allowing clients to buy and sell shares of leading companies. This opens up opportunities for traders to participate in the equity markets and benefit from price movements and potential dividends.
ETFs (Exchange-Traded Funds)
ETF trading at Noor Capital covers a broad spectrum, including funds that track indices, commodities and baskets of assets. ETFs are ideal for portfolio diversification because they provide exposure to a wide array of securities, combining the trading flexibility of a stock with the diversified risk of mutual funds.
Futures
For those interested in derivatives, Noor Capital offers futures contracts on various financial instruments and commodities. Futures trading is used by traders who wish to speculate on the future price movements of an asset or hedge current holdings against potential adverse price shifts.
Each trading instrument category at Noor Capital is backed by sophisticated trading technology and real-time market data, ensuring that traders have all the necessary tools at their disposal to make informed decisions. Furthermore, Noor Capital’s commitment to providing a broad array of instruments reflects its understanding of the diverse needs and strategies of its global clientele, from day traders to long-term investors.
TRADING PLATFORMS
Noor Capital caters to its diverse clientele with the provision of MetaTrader5 (MT5), an advanced and highly versatile trading platform developed by MetaQuotes Software. MT5 is recognised globally for its robust functionality, catering to traders of all experience levels with a comprehensive suite of tools and features.
Key Features of MetaTrader5 (MT5)
- Multi-Asset Trading: MT5 allows users to trade forex, stocks and futures all from one platform. This integration offers a seamless trading experience, enabling traders to diversify their portfolios without the need for multiple platforms.
- Advanced Charting Tools: The platform provides an array of technical analysis tools. Traders can access over 80 built-in indicators and tools, facilitating detailed market analysis.
- Algorithmic Trading: MT5 shines in its support for automated trading systems, known as Expert Advisors (EAs) where traders can develop, test and apply EAs to automate trading and analysis. The MQL5 development environment, which is more advanced than its predecessor MQL4, enables the crafting of more complex and faster-executing strategies.
- Economic Calendar: Integrated directly into the platform, the economic calendar keeps traders apprised of important financial events and indicators that could affect the markets, from inflation figures to non-farm payroll data.
- Superior Execution: MT5 offers two market orders, six pending orders and two stop orders, enhancing the precision of entry and exit strategies. This is critical for traders utilising sophisticated trading tactics and those needing high-speed trade execution.
- Multi-Threaded Strategy Tester: For those who use back-testing to refine their trading strategies, MT5 offers a powerful strategy tester that allows for simultaneous multi-currency and multi-timeframe testing, significantly speeding up the optimization of trading robots.
- Enhanced Security: The platform employs advanced security features to protect traders’ data and financial transactions. This includes encryption protocols for data exchange between the client terminal and the platform servers.
- Accessibility: MT5 is available on various devices and operating systems including Windows, macOS and Linux for desktop users, along with iOS and Android for mobile users. This accessibility ensures that traders can monitor markets and execute trades from anywhere at any time.
The implementation of MetaTrader5 by Noor Capital underscores the broker’s dedication to providing high-tech solutions that enhance the trading experience. Its comprehensive features support both novice traders who require ease of use, and experienced traders looking for deep analysis and automated trading capabilities.
ACCOUNT TYPES
Noor Capital caters to a diverse client base by offering three main types of trading accounts: Silver Trader, Gold Trader and Platinum Trader. Each account type is fairly similar when it comes to the features offered, with the main differences being the minimum deposit requirements and the commissions charged.
Silver Trader Account
This account type is ideal for novice traders or those new to Noor Capital, looking to start with a lower risk profile. The Silver Account offers commission charges starting from $7 USD per $100 000 USD traded.
Gold Trader Account
The Gold Account charges a commission of $6 USD per $100 000 USD traded, which is 14% lower due to the higher volumes traded on this account type.
Platinum Trader Account:
The Platinum Account offers commission charges of $5 USD per $100 000 USD traded, which is 28% lower than the Silver Account.
Each account type also offers different levels of access to market analytics. This tiered approach allows traders to select an account that best fits their trading style, experience level and financial goals, ensuring a customised trading experience that maximises their potential for success.
HOW TO OPEN AN ACCOUNT
Opening an account with Noor Capital involves a simple registration process which can be accessed on the broker’s website. Traders need to upload their personal information and required documentation which needs to be verified.
Once traders’ documents have been verified, traders can make a minimum deposit before starting to trade.
DEMO ACCOUNT
Noor Capital provides a demo account for new traders to practice trading without risking real money. This is a valuable tool for gaining experience and testing trading strategies in a simulated trading environment.
SOCIAL TRADING AND COPY TRADING
Noor Capital does not offer its own proprietary social or copy trading tools, however, with the provision of the MT5 trading platform, traders are able to access and implement copy trading features available on the platform.
COMMISSIONS AND FEES
The broker typically operates on a low fee structure with competitive spreads and no hidden fees. Commissions charged vary based on the account type selected.
The Silver Account charges commission at $7 USD per $100 000 USD traded, while the Gold and Platinum Accounts charge commission at $6 USD and $5 USD per $100 000 USD traded, respectively.
Additionally, the broker does not charge any inactivity or withdrawal fees, ensuring their fees are kept as low as possible for their clients.
LEVERAGE
Leverage at Noor Capital is subject to regulatory restrictions and varies by asset class. The highest maximum leverage available to traders is 100:1, while higher leverage can be accessed for professional traders.
WITHDRAWALS AND DEPOSITS
Noor Capital supports various methods for deposits and withdrawals including bank transfers and debit and credit cards. For their clients’ benefit, the broker does not charge any deposit or withdrawal fees, although fees may be charged by third-party financial service providers.
CUSTOMER SERVICE
Noor Capital provides robust customer service with support available through multiple channels including phone, email and live chat. Their team is noted for being responsive and helpful in addressing client inquiries and issues.
SAFETY AND SECURITY
Noor Capital places a high priority on ensuring the safety and security of its clients’ funds and personal information. The broker’s commitment to security is underpinned by strict adherence to regulations set forth by two of the most respected financial regulatory bodies in the world: the Financial Conduct Authority (FCA) in the United Kingdom and the Securities and Commodities Authority (SCA) in the United Arab Emirates.
Regulatory Oversight by the FCA
The FCA is renowned for its rigorous regulatory standards, focusing on the stability and transparency of financial services firms. Noor Capital UK’s compliance with these standards ensures that it operates with high levels of financial integrity and risk management.
As a regulated entity under the FCA, Noor Capital UK adheres to stringent client protection measures, including the segregation of client funds from company funds. This means that clients’ money is held in separate accounts at top-tier banks, ensuring that these funds are not used for any other purpose than the intended trading activities.
Clients of Noor Capital UK are also covered by the Financial Services Compensation Scheme (FSCS), which offers compensation up to 85 000 GBP per person in the extreme event of the broker’s insolvency.
Regulatory Oversight by the SCA
The SCA’s oversight ensures that Noor Capital UAE operates within a framework that prioritises market integrity and consumer protection. This includes compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.
Regular audits and reporting to the SCA ensure that Noor Capital UAE maintains the highest standards of operational competence and financial stability. This continuous scrutiny helps prevent fraudulent activities and enhances overall trustworthiness.
The SCA mandates that all regulated brokers, including Noor Capital UAE, implement strict measures to protect investors, which includes ensuring fair trading practices and transparent communication.
To protect the confidentiality and integrity of client transactions and personal information, Noor Capital employs advanced encryption technologies. This includes secure sockets layer (SSL) encryption for all data transmissions between clients’ devices and Noor Capital’s servers.
The broker uses state-of-the-art network security measures, including firewalls and intrusion detection systems, to safeguard its systems from unauthorized access and potential cyber threats.
Both internal and external IT audits are conducted regularly to ensure that security protocols are updated and effective against emerging security challenges.
Together, these regulatory and technological measures form a comprehensive safety net for Noor Capital’s clients, providing a secure and stable environment for their trading activities. This rigorous approach to regulation and security not only enhances client trust but also positions Noor Capital as a reliable and reputable broker in the competitive world of online trading.
PROMOTIONS
Currently, Noor Capital does not offer any promotions on their website, however, this is subject to change and traders are advised to regularly visit the website to in the event that this changes.
RESEARCH
The brokerage does not provide its own research tools, however, with the provision of the MT5 platform, traders can access the variety of research tools available on the platform. The only research tools available on the broker’s website is the provision of an economic calendar.
EDUCATION
Noor Capital also does not provide any educational resources to its clients. Fortunately, with the wide variety of educational tools easily accessible on the internet, this lack of provision is not a key factor when deciding to utilise this broker.
GLOBAL AWARDS
Noor Capital has won multiple global awards in recent years, underscoring their commitment to providing a great trading environment. Some of their most recent awards include the following:
- Best FX Broker in the MENA Region (2023) – Forex Expo Dubai.
- Best Regulated Broker (2022) – Forex Expo Dubai.
- Best FX Broker in the MENA Region (2021) – Forex Expo Dubai.
- Most Transparent Forex Broker (2021) – Forex Traders Summit.
- Creativity and Excellence Awards (2020) – Gulf Business Forum.
SAFE OR SCAM?
Noor Capital is a legitimate financial services provider that is rigorously regulated by two of the world’s most respected regulatory bodies in the FCA and the SCA. This dual regulation not only underscores Noor Capital’s commitment to transparency and ethical trading practices but also provides a strong layer of security and oversight.
The broker’s adherence to the strict guidelines set by the FCA and SCA ensures a high standard of accountability and operational integrity. This compliance protects clients from the risks associated with unregulated trading practices.
Noor Capital adheres to the best practices of keeping client funds in segregated accounts separate from the company’s funds, which safeguards client assets from being used for any unauthorized purposes.
For Noor Capital UK, coverage by the Financial Services Compensation Scheme (FSCS) offers an additional layer of security, providing clients with compensation in the unlikely event of the broker’s default.
Both divisions of Noor Capital are subject to regular audits that ensure financial transparency and help detect and prevent any fraudulent activities.
Noor Capital provides clear and detailed information regarding its trading conditions, fees and processes, which is a hallmark of a trustworthy broker that values client education and informed decision-making.
Given these strong protective measures and regulatory oversight, Noor Capital is widely regarded as a safe and reliable broker, not a scam. Clients looking for a secure trading environment would find Noor Capital a commendable choice.
CONCLUSION
Noor Capital stands out as a reputable financial services provider in the Middle East and the UK, offering robust trading solutions and comprehensive client support. While the broker does lack research and educational tools, they make up for it by providing a high quality trading environment.
After conducting the above review on Noor Capital, the team at Brokersuggest.com highly recommends the broker as a good trading partner for more experienced traders looking for a quality and cost effective trading environment.
