nextmarkets HeadlinesTrading PlatformAssetsSpreads & CommissionLeverageMobile AppsPayment MethodsDemo AccountRegulationAdditional FeaturesAccount TypesBenefitsDrawbacksTrading HoursCustomer SupportSecuritynextmarkets VerdictFAQsAccepted CountriesAlternatives to nextmarkets
nextmarkets Trading Ltd is an online broker that offers clients access to a wide range of assets, including stocks, forex, ETFs and CFDs. The brand is recognisable by its n3 logo and boasts competitive leverage rates alongside more than 800 instruments. This 2022 nextmarkets review will cover everything you need to know, including fees and spreads, customer support channels, payment methods and more.
nextmarkets Headlines
nextmarkets Trading Ltd is a neobroker founded in 2016 and registered in Malta. It is a subsidiary of nextmarkets AG GmbH, a company founded in 2014 and headquartered in Cologne, Germany. The company was established by co-founders Dom and Manuel Heyden, two brothers that have had esteemed careers in the financial and technological sectors. The broker has received funding from a range of well-known investors including Peter Thiel, the co-founder of PayPal.
The firm is regulated by the Malta Financial Services Authority (MFSA). While no specific valuation is available on sites like Crunchbase, the company has received over $43 million in funding through various investment rounds. Customers are accepted from a range of European countries, including Belgium, France, Germany, Spain and the United Kingdom. Over 1 million trades are completed every year through the platform.
Trading Platform
nextmarkets has developed its online trading platform, called Gettex. The platform runs on almost any browser and does not need to be downloaded to the desktop. Placing orders is simple, easy and can be done in units or in selected amounts. Leverage and margin can be scaled to whichever value the user desires. There is also a mass of charts and technical indicators to assist in research and analysis. Moreover, clients can implement risk management strategies such as stop-loss orders through the platform.
Assets
There are over 800 different assets and trading instruments available for nextmarkets customers. The broker covers a variety of classes, including forex, stocks, CFDs and cryptocurrencies. Users can purchase real stocks through the broker’s platform, which provides access to the Munich Stock Exchange. Alternatively, clients can purchase stock CFDs, whereby they do not own the underlying asset. Instruments available are:
Cryptos: Including Bitcoin (BTC) & Dogecoin (DOGE)
Indices: Global equity indices from across the world
Forex: 21+ major, minor and exotic currency pairs
Commodities: 5+ energies and metals
Stocks: 700+ company shares
Bonds
CFDs
ETF
Spreads & Commission
nextmarkets average spreads are around 0.8 pips. Comparing this vs competitors such as Smartbroker, eToro, Degiro and Trade Republic, nextmarkets orders have a lower average spread, indicating that they are a cheaper broker to trade with. Additionally, the broker offers commission-free trading, though this is only applicable to orders over EUR 250, any orders below this amount will be charged a EUR 1 commission. The broker does not charge any inactivity fees. The typical spread for the EUR/USD currency pair is 0.6 pips, much lower than the industry average.
Leverage
nextmarkets used to offer a maximum leverage rate of 1:200, however, this has now been lowered to 1:30. This is in line with EU law, which dictates that leverage rates above this cannot be offered to retail traders. The leverage is scalable, if you wanted to trade with 1:5 or 1:25, you can as you have full control. Trading with a leverage of 1:30 means users can put down EUR 100 and trade with EUR 3,000. While this may increase winnings, it also magnifies losses, so caution must be taken.
Mobile Apps
nextmarkets provides its mobile trading app. The app is available for download on both iOS and Android and has positive reviews on both stores with average ratings of 4.7 out of 5. The app is almost fully featured. All order types are available and placing orders is simple. The layout is intuitive and easy to use. The only thing the app is lacking is some of the chart analysis functions that are available on the web trading platform.
Payment Methods
There is no minimum deposit with nextmarkets. Equally, there are no deposit or withdrawal fees. Deposits are processed over different timeframes depending on the method (credit cards and debit cards are instant while bank transfers can take up to three days). Withdrawals take approximately one to two days to process. The minimum withdrawal amount is EUR 150. Deposits and withdrawals can be made via the following methods:
Trustly
Fast Bank Transfer
Manual Bank Transfer
Debit Dard (Visa & Mastercard)
Credit Card (Visa & Mastercard)
Demo Account
nextmarkets does offer a free demo account for users. The brokers’ customers can use this account to test their trading skills and get used to the platform. All clients should use the demo account first to support the platform learning process, it will also give great insights into your potential earnings. If you were thinking of quitting your careers and jobs to trade full time, the demo account will help you learn your potential before you start risking your hard-earned capital from the bank.
Regulation
nextmarkets Trading Ltd is regulated by the Malta Financial Services Authority (MFSA). This is an EU-based regulatory body and, as such, the broker complies with all EU laws and rules.
Additional Features
Education
nextmarkets provides a wealth of educational resources on its website. These include tutorials, YouTube videos and a range of learning articles. These resources are designed to teach customers everything they need to know about trading on the platform and in general, from how the markets work to what contracts for difference (CFDs) do. With so many resources, it is almost a trading school.
Coaches
nextmarkets has a team of pro coaches that analyse up to 100 different assets per month. There are 17 different coaches available, including Andre Stagge and Gerry Celeya. They will research the market for you and recommend different products for you to purchase so that you can save time.
Account Types
nextmarkets provides a single one-size-fits-all account for its customers. There is no minimum deposit and anyone can open this account, providing they are of legal age. The benefit of only providing one account type is that the best spreads are not hidden behind paywalls and high minimum deposits.
Benefits
Tight spreads
Demo account
Intuitive trading platform
Many different instruments
Negative balance protection
Lots of educational resources
Commission-free trading on orders above EUR 250
Drawbacks
No US clients
No bonus schemes
No MetaTrader platforms
EUR 150 minimum withdrawal limit
Commission on orders under EUR 250
Trading Hours
nextmarkets assets vary according to the markets they are listed on. For example, forex currency pairs can be traded during the standard forex session, 24/5 on weekdays with breaks on weekends. Stocks are available to trade when the Munich Stock Exchange is open for business.
Customer Support
nextmarkets customer support can be reached Monday to Friday between 09:00 and 18:00 CET. The team is available to help in all scenarios, whether you have forgotten your login details or have another issue that needs resolving. The broker can be contacted via the following methods:
Phone: +49 221 98259 007
Support form
Additionally, nextmarkets GmbH can be found on a range of social media platforms, including Facebook, Twitter, Instagram and LinkedIn.
Security
nextmarkets use a two-factor authentication (2FA) system for logins to add a layer of protection to accounts. Once activated, an SMS or push notification will be sent to the registered phone when someone tries to sign in.
The broker is also part of the Investor Compensation Scheme, which ensures that, should the broker go bankrupt, clients will be paid at least 90% of their funds. Moreover, your deposit and funds are held in a separate account from the broker’s funds, so they cannot be used for company business.
nextmarkets Verdict
nextmarkets is an exciting broker out of Malta and Germany, Recent news articles are pegging them as the up-and-coming broker in Europe who could rival the established names. With a range of forex, ETF and CFD instruments to trade, users will be able to find whatever they are looking for on nextmarkets.
FAQs
Is nextmarkets Legit?
Yes, nextmarkets is a legitimate, regulated broker. The firm has received many positive reviews on both Trustpilot and Reddit and complies with European legislation.
How Much Capital Do I Need To Trade On nextmarkets?
There is no minimum deposit limit on nextmarkets accounts. Therefore, you can start trading with any amount of money, which is great for beginners or casual traders.
Where Is nextmarkets Regulated?
nextmarkets is regulated by the Malta Financial Services Authority (MFSA). This is an EU body and, therefore, the broker complies with all EU laws.
Does nextmarkets Run Promotions?
No, nextmarkets does not run promotional events and financial incentives. These are prohibited under EU regulation, with firms instead needing to rely on differentiation through competitive services.
Does nextmarkets Offer A Demo Account?
Yes, nextmarkets offers a demo account, which is a great place to get used to the platform and practise strategies. These provide virtual funds in a simulated trading environment for risk-free practice.
Accepted Countries
nextmarkets accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Alternatives to nextmarkets
If you are looking for alternatives to nextmarkets we have compiled a list of the top 5 brokers that are similar to nextmarkets below. This list of brokers like nextmarkets is in order of similarity and only includes companies that accept traders from your location.
Spectre.ai – Spectre.ai is a blockchain-based binary options broker
RaceOption – RaceOption is a binary options and CFD platform offering trading contests and prize giveaways.
Rockfort Markets – Rockfort Markets is a New Zealand broker with a competitive range of assets, trading platforms and educational services.
AdroFX – AdroFX is a regulated, global broker offering forex, CFD and crypto trading with MT4 access and attractive welcome bonuses.
Finq.com – Finq.com offer a great all round service with trading on 2100+ assets and immediate bonus offers. Up to $4000 in Deposit Bonuses.