nextmarkets Review 2023
- DayTrading Review Team
We recommend nextmarkets if you want to trade stocks and ETFs with zero commissions on a user-friendly mobile app. The broker's experts also share daily trading ideas.
nextmarkets is a German-headquartered stock and CFD broker, established in 2016. You can open an account in less than five minutes on the beginner-friendly app and start trading over 5000 instruments. The firm also offers hundreds of monthly trading ideas to support newer investors.
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Trade 20+ currency pairs with floating spreads averaging 0.8 pips for majors like the EUR/USD. However, the range of currencies and forex research trails the best brokers so we don't recommend nextmarkets for serious currency traders.
nextmarkets offers more than 5000 shares spanning major economies, including Europe and the US. Over 1000 ETFs are also available for broader exposure. You can trade equities in a few clicks on the investing app.
Trade 5000+ CFDs on a no-frills trading platform and mobile app. This includes stocks, indices, and commodities with a maximum leverage of 1:30 in line with EU regulations.
Trade cryptocurrency CFDs including Bitcoin, Litecoin and Ethereum. You can go long or short on popular digital currencies with up to 1:5 leverage and variable spreads.
- Easy to use mobile app packed with market alerts, customizable charts and straightforward order placement
- Excellent investment offering with 5000+ products including forex, cryptocurrencies, stocks, bonds and ETFs
- There is a wealth of educational resources suitable for new traders including articles and video content
- Regulated in the EU with adherence to MiFID and membership with the ICF
- Transparent pricing model with commission-free trading for retail investors
- No minimum deposit makes the brand accessible for beginners
- Customer service is only available between 9 AM and 6 PM weekdays, with no weekend or out-of-business hours support
- Commission-free trading is only available on volumes over €500
- Limited funding methods with no Paypal, Skrill or Neteller
- No third-party platform such as MetaTrader 4
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 2023 nextmarkets review will cover everything you need to know, including fees and spreads, customer support channels, payment methods and more.
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.
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.
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 include:
- 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: 5000+ company shares
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. The typical spread for the EUR/USD currency pair is 0.6 pips, lower than the industry norm.
Additionally, the broker offers commission-free trading, though this is only applicable to orders over EUR 500, any orders below this amount will be charged a EUR 1 commission.
The broker does not charge any inactivity fees.
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.
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.
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. Deposits and withdrawals can be made via the following methods:
- Fast Bank Transfer
- Manual Bank Transfer
- Debit Dard (Visa & Mastercard)
- Credit Card (Visa & Mastercard)
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.
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.
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.
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.
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.
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.
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
- Live chat: available on website
- Support form
Additionally, nextmarkets GmbH can be found on a range of social media platforms, including Facebook, Twitter, Instagram and LinkedIn.
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 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.
nextmarkets accepts traders from Australia, Thailand, Canada, United States, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use nextmarkets from United Kingdom.
|Mobile Apps||iOS & Android|
|AI / Machine Learning||No|
|Negative Balance Protection||No|
|Guaranteed Stop Loss||No|
CFD Trading Details
Forex Trading Details
Cryptocurrency Trading Details
|Crypto Auto Market Maker||No|
Compare nextmarkets with similar brokers that accept traders from your location. Among available brokers these are the most similar to nextmarkets:
IG Group – IG is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.
Go to IG Group
Just2Trade – Just2Trade is a reliable multi-regulated broker registered with FINRA, NFA and CySEC. The company has 155,000 clients from 130 countries and stands out for its huge suite of instruments and additional features, including a social network, robo advisors and a funded trader programme.
Go to Just2Trade
World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
Go to World Forex
nextmarkets Comparison Table
|nextmarkets||IG Group||Just2Trade||World Forex|
|Markets||Forex, Stocks, Commodities, Crypto||CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting||Stocks, ADRs, ETFs, Futures, Options, Commodities, Bonds||Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts|
|Minimum Trade||$1||0.01 Lots||0.01 Lots||0.01 Lots|
|Regulators||MFSA||FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA||CySEC, NFA, FINRA, Bank of Russia||SVGFSA|
|Bonus||–||–||Up to $2,000 for professional accounts||100% Deposit Bonus|
|Platforms||Own||MT4, AutoChartist, TradingCentral||MT4, MT5, TradingCentral||MT4, MT5|
|Leverage||1:30||1:30 (Retail), 1:250 (Pro)||1:20||1:1000|
Compare Trading Instruments
Compare the markets and instruments offered by nextmarkets and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
|nextmarkets||IG Group||Just2Trade||World Forex|
nextmarkets vs Other Brokers
Compare nextmarkets with any other broker by selecting the other broker below.
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.
|nextmarkets is a German-headquartered stock and CFD broker, established in 2016. You can open an account in less than five minutes on the beginner-friendly app and start trading over 5000 instruments. The firm also offers hundreds of monthly trading ideas to support newer investors.|