Noor Capital PSC Forex Broker Review

Read our comprehensive review of Noor Capital PSC, a regulated investment, asset management firm, Forex, and CFDs broker. Despite having a responsive website, trader reviews indicate serious flaws in its services.

Noor Capital PSC background — A brief overview

Noor Capital PSC is based in the United Arab Emirates and is overseen by the Securities and Commodities Authority. Despite having a license to offer both asset management and trading services, the broker fails to offer a decent service and has a multitude of unsatisfied traders who complain about the broker being scammed. The broker apparently has untrained employees in support, trading, and management areas that need immediate attention. The broker also operates in Abu Dhabi under the Department of Economic Development Abu Dhabi.

Noor Capital PSC started its operations in 2005 which makes it a very experienced company, apparently, not offering excellent brokerage and trading services, hence, so many complaints from so many traders.

Noor Capital PSC Review of Accounts

Noor Capital PSC offers just one live trading account which is not beginner-friendly and not retail-friendly. This is because it offers mainly institutional trading accounts both demo and live and has terrible customer service for retail traders. The problem also arises with trading platforms, as different assets can be traded on different platforms which makes it impossible to just select one platform and trade several different asset classes.

The broker offers more than 60 currency pairs for a maximum of 1:100 leverage. There are only 2 precious metals offered for 1:100 leverage and 2 energies with the same level of leverage. There are 9 indices offered for 1:100 leverage, and 70 share CFDs are offered from global financial markets. There are also cash equities offered for trading on a specialized platform and MT5. The minimum deposit to open a live account is 50 USD which is not much but the broker makes it super difficult to check information and details about its trading accounts and it’s hard to find what the minimum deposit is. The fees on shares are from 0.01 USD per share traded which is expensive if the trader wants to buy penny stocks.

Noor Capital PSC Deposit and Withdrawal

When it comes to deposits and withdrawals the broker only accepts bank cards and wire transfers, limiting traders’ capability to use e-wallets and other banks other than UAE-based ones. This makes it a lengthy and costly process to just deposit funds in your trading account unless you are a big institution. Withdrawals are also lengthy at 1-5 business days which is horrible for retail traders.

Noor Capital PSC Reviews of Trading Platforms

Noor Capital PSC offers several trading platforms such as advanced MT4 and MT5 platforms and custom mobile stock trading platforms. However, different assets require different platforms which is very inconvenient for multi-asset traders. Cash equities can only be traded via MT5 while all other assets are also supported by the MT4 platform. Both platforms come for all devices including mobile, desktop, and web browsers. There is also a GTN trading platform offered for all devices which mainly is the stock trading platform. Traders can download all three accounts on both Android and iOS devices and trade on the go.

Mobile trading at Noor Capital PSC

Mobile trading at Noor Capital PSC is possible via MT4, MT5, and GTN mobile trading apps available for all devices and tablets. All three platforms are decent trading apps for speculating on the go. They offer built-in indicators and chart analysis tools, including multiple trading order types and fast execution. Surely, they are not as advanced as desktop trading platforms and lack custom indicators and Expert Advisors (EAs) support for automated trading capabilities.

Noor Capital PSC Forex Review of Extra Features

Apart from being a terrible broker, Noor Capital PSC also offers several other services, including global financial advisory, asset management, investment, and funds administration. As a global financial advisory firm, Noor Capital PSC operates within the UAE and MENA region, offering advisory services to local clients. The broker is mainly focused on providing these advisory services to medium and large companies’ boards of directors and is less focused on retail investors and traders. As an asset management firm, the broker offers services to manage various assets such as global equity, fixed income, money markets, currency, and alternative investment products. As an investment services company, the broker offers investors accurate investment decisions and recommendations. It also offers services such as setting up asset management companies and fund houses, as a fund administration company.

Overall, Noor Capital PSC is offering so many other services that it fails to offer decent Forex and CFDs trading experience and fails to provide detailed information about account types and other crucial information.

Noor Capital PSC Review of Education and Tools

Noor Capital PSC provides several trading courses, webinars, and tools in its academy. Traders can sign up and join to learn Forex trading, but since these many traders are unsatisfied with the broker’s service qualities we doubt these educational courses will be of any help for beginners. These courses are also paid and require registration, unlike popular reliable brokers that offer all educational resources for free. The broker offers trading signals and video tutorials as well as a multitude of trading tools. The list of tools includes an economic calendar, market updates, technical analysis, daily broadcasting, and economic reports. Once again, the broker is focused on institutional clients and investment advice but falls short in brokerage services for traders.

Noor Capital PSC Reviews of Customer Support

The Noor Capital PSC customer support services are decent but still have serious issues. Firstly, there is no live chat to instantly and easily contact the broker and resolve issues and secondly, the broker has a history of terrible customer service. As for other options, the broker offers hotline and email channels which are good but not enough within Forex trading standards.

Noor Capital PSC Review Conclusion

Overall, Noor Capital PSC is focused on institutional clients and mainly offers investment advice and capital management services. Although the company is regulated and offers brokerage services, it is not retail-friendly. Its customer support is terrible as it lacks live chat and there are a multitude of reviews from traders assessing the broker as a scam and unsatisfactory.