- Regulated brokerage
- Innovative trading platform
- Very low trading fees
- Extensive array of financial markets
- Low leverage available
- Only one trading platform
NextMarkets is a newly launched online trading brokerage that just opened its services to investors and traders in early 2018. The brokerage is owned and operated by NextMarkets Trading Limited with their headquarters located at Level 13, Portomaso Business Tower, Portomaso, St. Julians, Malta, STJ 4011. NextMarkets differs from most other online trading brokerages as they focus heavily on providing a personal coaching approach to trading. Clients of NextMarkets are provided with eight analysts to coach them and provide them with various trading insights and opportunities as they come. Therefore, the NextMarkets trading brokerage is clearly for beginner traders rather than experienced traders who already know what to look for and how to trade. The whole idea behind NextMarkets is to replace the traditional investment banking landscape by offering the same level of service in a digitized manner. Therefore, NextMarkets is an innovative trading solution, but how does it compare to the traditional investment banking sector and traditional trading brokerages? Let’s find out in the following review where we’ll delve deep into the aspects that make up this innovative trading brokerage and see what sets them apart from the competition and whether or not they can be trusted.
NextMarkets features their very own proprietary web-based trading platform that’s designed to help traders become more successful by guiding them through the complexities of the financial markets. Traders have the ability to browse through the NextMarkets analysts and follow whoever they want to create a unique and personal portfolio. With these analyst coaches, traders can see what they recommend directly from the trading charts. They can make decisions and place their trades directly from the charts with one click trading. Traders can visually place their limit orders, stop losses, and take profit levels directly in the charting interface. The trading platform supports full screen trading and traders can open multiple tabs with different markets in full screen for a better trading experience. Overall, the trading platform is very sophisticated and features numerous advanced technical indicators, chart types, time periods, tools, and more.
In addition to the web-based trading platform, NextMarkets features a downloadable mobile trading application for both iOS and Android smart devices. The app is available for free download from the Apple App Store and the Google Play Store. All of the same features as the web-based trading platform have been fully optimized for a seamless mobile trading experience. However, the charting capabilities do not work as well on mobile but managing your trader profile and browsing through coaching analysts is very nice and easy to do. As well, traders can create watch lists and browse through their current trades and trade history. All in all, the mobile trading platform is a great feature for managing your trading portfolio on the go.
NextMarkets offers traders a truly extensive list of financial instruments to trade, claiming they offer over 1000 global instruments. These financial instruments are spread across various global markets including Stocks, Forex, Indices, Commodities and Bonds. See a quick overview of these markets below.
- Wide selection of American & European shares
- Over 900 shares to choose from numerous global Indexes
- Wide selection of spot foreign currency pairs
- Majors, Minors
- 21 currency pairs with tight spreads
- Trade long or short
- Wide selection of American & European indices
- Trade long or short
- Trade 7 of the most important indexes
- Gold, Silver, Crude Oil, Brent Crude, Natural Gas
- Trade on margin
- Minimal spreads
- German bond market (BUND)
- Trade on margin
Fees and Commission
NextMarkets charges zero commissions on trades as they charge their fees through the spreads. The spreads are very tight with fixed spreads as low as 0.6 pips on the EUR/USD currency pair. Also, traders have no monthly account fees, no deposit fees, and only a minimum initial deposit of EUR 500 to open an account. Therefore, NextMarkets is a highly lucrative online trading brokerage with very low fees compared with the competition.
Security and Fairness
Though NextMarkets is a relatively new online trading brokerage, they seem to be a very safe and secure online trading service. After all, they are regulated by the Malta Financial Service Authority (MFSA) as a securities trading bank. Also, clients funds are held securely in segregated bank accounts, so they are safe in the event of brokerage insolvency. Plus, NextMarkets are a member of the Financial Services Compensation Scheme (FSCS) which protects clients funds in the event of insolvency or the stop of operations. Additionally, NextMarkets employs secure SSL transmission protocols to protect the users personal information and transaction of funds. All in all, NextMarkets is a safe and secure online trading brokerage, even though they have yet to prove themselves as they are a very new broker.
The customer support provided by NextMarkets is somewhat limited but is very good and responsive. The support methods available include email and telephone support that’s available from 7am to 6pm, Monday through Friday. Additional methods of support include a variety of learning videos which provide step by step instructions on how to use their services.
Overall, the NextMarkets online trading brokerage is an innovative brokerage with an array of sophisticated trading tools and features. The trading platform is very well designed and great for both beginners and experienced traders. Also, traders have access to an extensive list of financial assets to trade. The brokerage is also very safe and secure as they are highly regulated and have a great reputation. All in all, we would recommend this trading brokerage to anyone.
The following are the common questions that customers inquired about NextMarkets.
Is NextMarkets regulated?
Yes, it is regulated by the Malta Financial Service Authority (MFSA) as a securities trading bank.
Is NextMarkets a scam?
No, NextMarkets is a legit broker and is highly reputable.
Where is NextMarkets based?
NextMarkets is based at Level 13, Portomaso Business Tower, Portomaso, St. Julians, Malta, STJ 4011.