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Nextmarkets Broker Review 2024

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Nextmarkets Broker Review 2024
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Investing and trading in financial markets such as the stock exchange, forex, digital currencies in the form of spot or with leverage face a high inherent risk. According to the statistics of all exchanges and brokers, more than 75% of people lose!

Overview
Company:Nextmarkets
Founded:Germany
Min Deposit:1
Max Leverage:100
Headquarter:Cologne, Nordrhein-Westfalen, Germany
US Accepted:
About
Nextmarkets is a German broker founded in 2014, offering access to MetaTrader 4 and over 7,000 tradable instruments. Regulated by MFSA, it has a low minimum deposit but suffers from poor trust ratings, limited educational resources, and limited availability for customer support.
Contact
Friesenstraße 50/3.Etage, 50670 Köln, Germany
Rank and Score
Pros and Cons
Account Types
Platforms
Pros
Commission-Free Trading
Wide Range Of Tradable Assets
Regulated By a Reputable Authority (MFSA)
Cons
No 24/7 Customer Support
Limited Educational Resources Compared To Larger Brokerages

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.

Nextmarkets review
Nextmarkets Review: Everything about this broker with pros and cons

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:

Nextmarkets registration page
registration page on the Nextmarkets website is unavailable

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)
nextmarkets proprietary platform
Nextmarkets proprietary trading platform on mobile devices

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.
nextmarkets trustpilot
Nextmarkets has a low score on the Trustpilot website

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.

FAQs

Is Nextmarkets a regulated and legitimate broker?

Yes, this broker is regulated by the Malta Financial Services Authority (MFSA), ensuring it complies with the required financial standards.

What trading platforms are available on Nextmarkets?

It offers two main trading platforms: the proprietary Nextmarkets platform and MetaTrader 4 (MT4). Both platforms provide access to real-time market data, charting tools, and risk management features such as stop-loss and take-profit orders.

What tradable instruments are available at Nextmarkets?

This company offers access to over 7,000 tradable instruments, including shares, ETFs, CFDs on stocks, indices, commodities, currency pairs, and bonds.

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