As the broker registered originally registered in Cologne (Germany), we shouldn’t have second thoughts about it. However, that’s the headquarter. NextMarkets Trading Limited is licensed only in Malta, but not in Germany. After more than 8 years of trading globally, we expect them to have built up on their original license.
NextMarkets review will show you all the details about this trading firm.
Before we go any further, we suggest reading our brokerage reviews on FINQ, LegacyFX, and Alpari.
| Broker status: | Regulated Broker |
| Regulated by: | MFSA |
| Websites: | Nextmarkets.com |
| Regulators’ Complaints: | N/A |
| Owned by: | NextMarkets AG |
| Headquarters Country: | Germany |
| Foundation year: | 2014 |
| Supported Platforms: | Web trader |
| Minimum Deposit: | N/A |
| Cryptocurrencies: | Yes – ETH, LTC, BNB |
| Types of Assets: | Forex, Commodities, Indices, Shares, Cryptocurrencies, ETFs |
| Maximum Leverage: | Up to 1:30 (retail) / Up to 1:100 (pro traders) |
| Free Demo Account: | Yes |
| Accepts US clients: | Yes |
Is NextMarkets a Legit Broker?
We can’t say that this broker is not legitimate. However, some NextMarkets reviews are presenting a different picture. Moreover, this broker still hasn’t established their security with the most trusted Tier 1 regulators like FCA, BaFin or ASIC. After all, we checked their database for your convenience.
NextMarkets is a broker registered in Germany, with a licensed subsidiary in Malta. The company has some negative reviews you should consider.
Why Is Trading On a Licensed Broker’s Platform Preferable?
Funds security, negative balance protection and transparency are some of the key points. In addition to that, trading conditions are reasonable and don’t lead you into trouble. Moreover, in case you have any issues you always have an institution that you can reach out to. That’s why Tier 1 regulators are the most trusted.
NextMarkets Available Online Trading Platform
Surprisingly, NextMarkts broker doesn’t provide any third-party trading platform like MetaTrader or cTrader. On the contrary, it is a proprietary web-based trading platform. It provides limited features and just some essential customization options. As can be seen, they don’t provide price alerts as well. For some traders, it might be a key to a good trading execution.
Mobile Application For Androids and IOS
On the positive side, NextMarkets offers a mobile version of their web trader. However, some features that are not available on the regular version you have here. Still, advanced indicators, social or copy trading and algorithmic trading are missing. That’s why most traders stick to an industry-standard MT5.
NextMarkets Reviews by Traders
Although there are not many comments on Trustpilot, we find it interesting to share them. Out of 19% in total, almost 20% were rated 1-star.
However, one specific comment could point to potential issues with the NextMarkets broker. Allegedly, one client lost almost 100.000 USD without trading on financial markets. Check it out yourself.
NextMarkets’s Trading Assets and Instruments
The broker offers many different financial classes for trading. It is quite solid availability of assets, especially stocks and cryptocurrencies. Here are the available groups:
- Forex USD/GBP, EUR/JPY, AUD/NOK
- Commodities oil, natural gas, platinum
- Indices DJI, DAX30, FTSE100
- Shares NEO, Tesla, Qualcomm
- Cryptocurrencies BTC, ADA, ETH
- ETFs SPY, QQQ, IWM
Considering leverage according to regulations and ESMA rules, these assets are all good for even beginners.
NextMarkets Service Countries
Countries, where NextMarkets provides its services, are quite interesting. As can be seen in NextMarkets reviews they are operating in the:
- United Kingdom
- Austria
- Germany
- Spain
- Brazil
However, since the UK left European Union, all trading companies should have TPR or FCA license. Without that, they are not legally providing services to UK clients.
What Are The Different NextMarkets Account Types?
Usually, brokers divide their services into certain groups. Most of the time, you are entitled to better trading conditions with a higher deposit. However, NextMarkets broker have only two account types:
- CFD account
- Pro account
For any of these accounts, clients don’t have the minimum deposit requirement. The main advantage or disadvantage, depending on your skill level, is the leverage of 1:100 the for Pro account.
Free Demo Account
Besides live trading accounts, clients can try the platform with virtual funds. Some traders don’t find it suitable, due to lack of advanced features.
Anyway, virtual balance is a good choice if you are going to throw money away. If you want to learn how to trade properly, open a micro account. Unfortunately, you will have to do it with some other broker. Check some Tier 1 regulated brokers for that service.
What Methods Of Deposit And Withdrawal Does NextMarkets Accept?
As a regulated broker they provide a vast of verified methods. None of the methods have commissions, whether for withdrawal or deposit. However, payment providers might charge their fees for transaction services.
Payment Methods Available
To sum it up, available payment options are:
- Cards Visa/Master card
- Wire transfers Trustly, iDeal
- e-payments Giropay, MBway, Sofort
For initial deposits, we always recommend the usage of cards. That way, you can always get a chargeback. Of course, if you are not satisfied with some products or services.
NextMarkets Promotions – How Does The Program Work?
On the positive side, NextMarkets holds up to EU regulations. Since 2018, ESMA banned all kinds of bonuses. However, an affiliate program is designed for marketing business owners. That way you can collaborate with NextMarkets and advertise their services.
NextMarkets Terms & Conditions – What You Need to Know
One of the main marketing key points of NextMarkets is zero commission trading. There are limitations on the order size of 0.01 lots. Besides, scalping and hedging are available. Mostly when executing market and stop orders.
Leverage, Spreads and Fees
Leverage for retail traders is limited to 1:30. However, for pro traders goes up to 1:100. Spreads start from 0.6 pips. That is way lower than the industry average of 1.5. After all, NextMarkets doesn’t withhold non-trading fees.
What Should I Do If I Have NextMarkets Problem?
Firstly, you can contact the regulator to check for a solution. Secondly, share your opinion with us. Our support team can as well give you advice on the next step.
Thirdly, you can recover funds if that was the issue. Contact our fund recovery team today!
What Is NextMarkets?
NextMarkts is a broker operating from Malta in FX and CFD markets and with headquarters in Germany.
Is NextMarkets a Regulated Broker?
Yes. However, they only have a license from MFSA (Malta), but not from Tier 1 regulators.
Is NextMarkets Available in the United States or the UK?
Based on NextMarkets research, they are providing services to clients from both mentioned countries
Does NextMarkets Offer a Demo Account?
Yes. On top of their 2 live trading account types, you can check their platform first through a demo account.