SCMN — Montenegro
Nozax a.d. Podgorica
Regulated · No. 03/2-5/5-21
NOZAX Review — Overview
Regulation
Offshore regulated
Licence
SCMN · No. 03/2-5/5-21
Licence status
Regulated
Platforms
MT5
Max. leverage
1:500
Instruments
Forex, shares, indices, commodities
Typical spread
From 0.0 pips
Operating
Est. 2017
Main market
ID
Entity
Nozax a.d. Podgorica
Website
Unknown
NOZAX is a forex & CFD broker based in Montenegro, established in 2017. On Trust Broker Hub it holds a Trust Score of 4.3 out of 10, which we rate as Fair — above the industry average of 3.3/10. Mixed profile — check regulation and conditions before depositing.
NOZAX's licence comes from an offshore jurisdiction (SCMN). Offshore regulation is far lighter than tier-1 oversight from bodies like the FCA (UK) or ASIC (Australia): there is usually no compensation scheme, and recovering funds can be difficult if the broker runs into trouble. Treat it with extra caution and verify the licence on the regulator's own register.
NOZAX provides access to Forex, shares, indices, commodities. Published conditions include leverage up to 1:500. No complaints are currently on record. Overall, NOZAX has a mixed profile: check its regulation and conditions carefully before depositing.
Trust score breakdown
How is this calculated?Trust Score history
NOZAX currently scores 4.3/10. The trend line will build here as the Trust Score is re-evaluated over time.
Pros
- Holds a SCMN licence
- No unresolved complaints on record
- Listed in our verified broker directory
Cons
- Offshore-only regulation with weaker investor protection
- Always verify the licence directly before depositing
Regulation
Tier 3 · Offshore
Verified
Offshore (tier-3) regulators typically have lower capital requirements and no compensation scheme. Funds may not be protected if the broker fails.
Trading conditions
| Instruments | Forex, shares, indices, commodities |
| Minimum deposit | Not disclosed |
| Maximum leverage | 1:500 |
| Typical spread | From 0.0 pips |
| Platforms | MT5 |
| Demo account | ✅ |
We mark unverified fields as “Not disclosed” rather than estimate them.
Our verdict on NOZAX
Our analysis · editorial
4.3/10
A mixed risk profile
NOZAX is regulated in an offshore jurisdiction (SCMN), which offers lighter oversight than tier-1 regimes. Based in Montenegro, it has been operating for about 9 years. We have no complaints on record against it. Weighing regulation, track record and complaint history, our Trust Score is 4.3/10 — a mixed profile.
Strengths
- Operating for 9 years
- No complaints on record with us
- Supports MT5 trading
Watch-outs
- Regulated only in an offshore jurisdiction — weaker investor protection
- Very high leverage available (1:500) — amplifies risk
Bottom line: Proceed with caution: start with a small deposit and test a withdrawal early.
This is Trust Broker Hub's data-driven editorial assessment — not a user review. It is generated automatically from regulation, licensing, company age and complaint records, and updates as those change.
User reviews
5 0
4 0
3 0
2 0
1 0
NOZAX — Questions & Answers
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Complaints & alerts
No complaints or regulator warnings on record
We monitor regulator alert lists and user reports. We'll flag NOZAX here if that changes.
Full specifications
Regulated region
Montenegro
Operating period
2-5 years
Main market
ID
Licensed entity
Nozax a.d. Podgorica
License status
Regulated
Instruments
Forex, shares, indices, commodities
Year founded
2017
Frequently asked
Is NOZAX a safe broker?
NOZAX scores 4.3 / 10 on our Trust Score, above the 3.3 industry average. It is only offshore-regulated, which means weaker protection. It has no complaints on record. Trade only with funds you can afford to lose.
How is the NOZAX trust score calculated?
The score weighs five factors: regulation tier, transparency of disclosures, operating footprint, user sentiment, and complaint history. Each is scored out of 10 and combined into the overall figure shown at the top. Read our methodology.
What does "offshore regulated" mean?
It means the broker's licence comes from a jurisdiction with lighter requirements than tier-1 regulators like the FCA or ASIC. There's usually no compensation scheme, so recovering funds can be difficult if the broker fails.
Can I withdraw funds easily from NOZAX?
NOZAX publishes some trading terms, but always confirm withdrawal fees directly. Test with a small amount first and document every transaction.