Nextmarkets Broker Review 2024

Nextmarkets is a German financial company founded in 2014. You will have benefits such as access to MetaTrader 4, a low minimum deposit of $1, and 7,000+ tradable instruments when trading with this broker.

However, the more important thing is, is Nextmarkets safe and legit? In this review, we will answer this question by investigating the brokerage in a detailed way.

Company Information & Regulation

According to the available data on the company's profile on the Crunchbase website, Nextmarkets is a private corporation founded by Dominic Heyden and Manuel Hayden. Key Points:

• Established Date: 2014
• Legal Name: Nextmarkets AG
• Headquarters: Cologne, Nordrhein-Westfalen, Germany
• Other Offices: Lisbon & Malta
• Regulation: Malta Financial Services Authority (MFSA), C 77603

Summary of Features

There are several common parameters among brokers. In this section, we will take a look at these parameters in Nextmarkets:

Nextmarkets Account Types Specifics

This brokerage is not the best in terms of offering various account types. In fact, it only provides 2 trading accounts:

• Standard: Leverage up to 1:30
• Pro: Leverage up to 1:100 for qualified traders (under certain conditions)

Nextmarkets also provides a demo trading account with a virtual balance of $10,000.

Advantages and Disadvantages

Nextmarkets, similar to other brokers in the industry, comes with some significant pros and cons. We will mention some of them in the table below:

Nextmarkets Broker Account Opening and Authorization

We attempted to create an account by clicking the "Open account now" button on the official website, but the related page didn't open for us. As you can see in the screenshot below, it prints a "502 Bad Gateway" error:

This issue is a big disappointment for the company, as it prevents new clients from registering with it.

Available Trading Platforms and Applications

Nextmarkets offers a proprietary trading platform designed to provide a seamless and intuitive trading experience, which is accessible on web and mobile devices. Also, it employs MetaTrader 4 as a third-party platform. Key Features:

• Real-time market data and quotes
• Access to charting tools and technical indicators
• One-click trading for quick execution
• Risk management tools (stop-loss, take-profit)

You can download the proprietary platform for your smartphones through these links:

• iOS
• Android

What is The Structure for Spreads and Commissions?

Nextmarkets performs average in spreads and fees. Unfortunately, the broker does not offer RAW or ECN accounts, and the spread for both accounts is the same, variable starting from 0.6 pips.

However, there are no additional commissions on trading with the broker. However, you should consider the withdrawal fees when working with it. Besides that, there are no inactivity or deposit costs.

Nextmarkets Deposit & Withdrawal Methods

The broker provides a limited range of common options for funding your account and withdrawing your profits. Nextmarkets Payment Methods:

• Credit/Debit Cards (Visa, Mastercard): Instant processing
• Bank Transfer (SEPA, IBAN): 1-3 business days processing time
• E-Payments: Trustly, iDeal, Giropay, etc.

Always check the most current information on the website or contact customer support for specific details about deposit and withdrawal processes, as these can change over time.

Copy Trading & Investment Options Offered on Nextmarkets

We examined the website for any information on the investment options for Forex traders and found nothing. As it appears, there are no ways to earn passive income on FX market with this broker.

Nextmarkets Forex Broker Tradable Markets & Symbols

This company offers a very long list of over 7,000 tradable markets and instruments. It's the most significant benefit of trading with this brokerage. Financial instruments on Nextmarkets:

• Shares: Access to major global stock markets
• ETFs (Exchange-Traded Funds): Wide selection of ETFs covering various sectors and regions
• CFDs on Shares: Trade price movements without owning the underlying asset
• CFDs on Indices: Major global indices available
• CFDs on Currency Pairs: Forex trading with fair spreads
• CFDs on Commodities: Including gold, silver, oil, and more
• CFDs on Bonds: Government and corporate bonds

Are There Any Bonuses and Promotions?

As of our latest review, Nextmarkets does not offer traditional bonuses or promotions. While the absence of bonuses might seem disappointing to some traders, it's important to note that this policy ensures transparency and compliance with regulatory standards.

Always check the official website for the most up-to-date information on any special offers or changes to their promotional policies.

Support Contact Channels and Timing

Nextmarkets provides common channels and methods for contacting customer support. We will discuss these channels in this list:

• Email: support@nextmarkets.com
• Phone Call: +49 221 98259 007
• Ticket System: Access through the website

Unfortunately, there is no live chat option for getting help from the broker's team, which is found in many other companies. Customer support is available Monday to Friday, 9:00 AM to 6:00 PM CET (Central European Time).

NextMarkets List of Restricted Countries

Brokers and financial companies do not provide trading services to all countries, and are restricted for some regions because of regulatory issues, sanctions, etc. While Nextmarkets does not offer a public list for banned countries, it mainly includes:

• United States;
• Iraq;
• Lebanon;
• North Korea;
• Cuba;
• Afghanistan;
• Japan;
• Turkey;
• Other countries sanctioned by international bodies.

Trust Scores & Ratings

Trust scores and user reviews provide valuable insights into a broker's reliability and service quality. Actually, the only platform on which we found Nextmarkets' rating is the Trustpilot. Let's examine it in detail:

• 1.9 out of 5;
• Based on +35 reviews;
• Half of the ratings are 1-star.

Overall, the broker has a low reputation on review websites. However, online reviews can be subjective and may not represent the overall experience of all users.

Education Resources on the Website

Nextmarkets does a poor job in terms of providing educational resources for traders. The only education offered by the broker is found on the YouTube channel, which is not even in English, and has not been updated for a long time.

Conclusion and final words

Nextmarkets might seem like a reliable broker regulated by MFSA, a high-tier financial authority, but in practice, there are negative and concerning signs about its reputation.

However, no one can say for sure that this company is not reliable, but you should conduct your own research thoroughly before depositing any funds.