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:
Broker | Nextmarkets |
Account Types | Standard, Pro |
Regulating Authorities | MFSA |
Based Currencies | EUR, USD, GBP |
Minimum Deposit | $1 |
Deposit Methods | Credit/Debit Cards, Bank Transfer, E-Payments |
Withdrawal Methods | Credit/Debit Cards, Bank Transfer, E-Payments |
Minimum Order | 0.01 Lot |
Maximum Leverage | 1:100 |
Investment Options | None |
Trading Platforms & Apps | MetaTrader 4, Proprietary Platform |
Markets | Shares, ETFs, CFDs on Stocks, Indices, Currency Pairs, Commodities, and Bonds |
Spread | From 0.6 Pips |
Commission | Withdrawal Fees |
Orders Execution | Market |
Margin Call/Stop Out | Not Specified |
Trading Features | Funds Held in Segregated Accounts |
Affiliate Program | Yes |
Bonus & Promotions | None |
Islamic Account | None |
PAMM Account | None |
Customer Support Ways | Email, Phone Call, Ticket |
Customer Support Hours | Monday to Friday, 9 Hours/Day |
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.
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:
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.
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).
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.
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.
