nextmarkets Review 2024


2.7 / 5
nextmarkets is #108 in our CFD broker rankings.

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.

- Daytrading Review Team

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.

$0
Own
CFDs, Forex, Stocks, ETFs, Cryptos, Commodities
-
EUR, GBP
Debit Card, Credit Card, Wire Transfer, ADVcash, Mastercard, Trustly

Forex Trading

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.

Stock Trading

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.

CFD Trading

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.

Crypto Trading

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.

✓ Pros

  • 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

✗ Cons

  • 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 2024 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 5000 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 include:

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.

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.

nextMarkets trading platform

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. Deposits and withdrawals can be made via the following methods:

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.nextmarkets trading education platform

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.

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:

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.

Top 3 Alternatives to nextmarkets

Compare nextmarkets with the top 3 similar brokers that accept traders from your location.

  1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
    Go to IG
  2. Swissquote – Swissquote is a Switzerland-based bank and broker that offers online trading and investing. The company has a high safety score and is listed on the Swiss stock exchange. The firm offers a huge range of products, from stocks, ETFs, bonds and futures to 400+ forex and CFD assets. Hundreds of thousands of traders have opened an account with the multi-regulated brokerage. Clients can get started in three easy steps while 24/7 customer support is available to assist new users.
    Go to Swissquote
  3. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
    Go to Interactive Brokers

nextmarkets Comparison Table

Compare nextmarkets With Similar Brokers
nextmarkets IG Swissquote Interactive Brokers
Rating 2.7 4.4 4 4.3
Markets CFDs, Forex, Stocks, ETFs, Cryptos, Commodities CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Forex, CFDs, Indices, Stocks, ETFs, Bonds, Options, Futures, Cryptos (location dependent) Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
Demo Account Yes Yes Yes Yes
Minimum Deposit $0 $0 $1000 $0
Minimum Trade $1 0.01 Lots 0.01 Lots $100
Regulators MFSA FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA FCA, FINMA, DFSA, SFC FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA
Bonus
Education No Yes No Yes
Platforms Own Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral MT4, MT5, AutoChartist, TradingCentral Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
Leverage 1:30 1:30 (Retail), 1:250 (Pro) 1:30 1:50
Payment Methods 6 6 5 6
Visit Visit Visit Visit Visit
Review IG
Review
Swissquote
Review
Interactive Brokers
Review

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.

Compare nextmarkets Trading Instruments
nextmarkets IG Swissquote Interactive Brokers
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil No Yes Yes No
Gold No Yes Yes Yes
Copper No Yes No No
Silver Yes Yes Yes No
Corn No No No No
Crypto Yes Yes Yes Yes
Futures No Yes Yes Yes
Options No Yes Yes Yes
ETFs Yes Yes Yes Yes
Bonds No Yes Yes Yes
Warrants No Yes No Yes
Spreadbetting No Yes No No
Volatility Index No Yes No No

nextmarkets vs Other Brokers

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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.