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NORVIK BANKA Review | Norvik.eu

Discussion in 'Forex Brokers Reviews' started by FBP Review Moderation Wing, Jan 6, 2016.

  1. FBP Review Moderation Wing

    FBP Review Moderation Wing Forum Moderator Trader

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    Have you been a client of NORVIK BANKA? If yes, we need an honest review from you to help others making the decision whether it is safe to join NORVIK BANKA. Please mention the following things in your review:

    1) Cost of services (spreads markup and commissions)

    2) Trade execution and overall experience about the broker’s trading platform

    3) Deposit and withdrawal operations

    4) Quality of support services

    5) Your final thoughts about the broker

    We hope your review will help us understand the quality of services provided by NORVIK BANKA.

    Broker’s Website: https://www.norvik.eu/en/

    WARNING: Due to our advanced IP detection and machine analysis tools, we can easily detect fake reviews. If you are found posting a fake review then you will be banned straight away.
     
  2. Hi, first of all I'll give replies to the topic questions.

    1. Cost of services inside the Norvik Trade was fine, now it's below average. Spread is very unstable, but you can catch a good one if you monitor it and have a good execution. 9 times out of 10 during the past year I saw much better spread with either Saxo, FXCM or IB.

    2. The platform is extremely outdated, interface looks terrible, but execution is OKish and orders come through most of the time.

    3. Normally works fine, but be prepared for high fees (way higher then normal SWIFT fees, and even SEPA payments for non-EU citizens cost from 12 EUR up to 35 EUR! Competitors offers them for free or starting from 0.36 EUR up to 10 EUR for immediate payment. And sometimes Norvik Banka charges you extra 50 EUR (!) for verification and payment compliance risk, even if you withdraw money from your personal account to your personal account in other bank. Once I was charged 78 EUR (!!) in total for the urgent withdrawal to my US account in USD, which took 4 days and several emails to pass through.

    4. Support won't be very helpful, unless you ask them a question, which was already answered in the FAQ. Also expect a strong Russian or Eastern European accent, which is fine for me, since I learned Russian and hence used to the accent, but it can be a real problem for others.

    5. The broker service is fine, but beware the Norvik Banka itself! This bank has an extremely aggressive and offensive approach to its international customers and it's gradually worsening for past 2 years. Fees are growing with no substantial reason. They even prohibit to close your account remotely, if your code card has expired! And this bank is charging a monthly fee of 5 EUR per account if you are not using it!! And penalties for a negative balance caused by these fees! So if you keep your money at a broker's account, you may be screwed by this bank. No phone call or email or even registered mail helps, this bank is just stealing from its clients and has a bad habit to frighten them with some legal actions, if the client won't obey their ridiculous fraudulent practices. Stay away at any cost!
     

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