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nextmarkets Review, Test & Rating in 2024

Autor: Florian Fendt — Updated in Jul 2024

nextmarkets

nextmarkets Trader Rating

3.7/5 stars (18 reviews)
nextmarkets Trading Limited is a subsidiary of nextmarkets GmbH. nextmarkets Trading Limited was founded in 2016 and handles the financial services for nextmarkets GmbH, which was founded in 2014. nextmarkets Trading Limited is a company registered in Malta (registration number C 77603) and licensed and regulated by the MFSA as a financial services company under licence IS/ 77603. nextmarkets has coined the terms coachfolio and curated investing, among others.
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75.5% of retail investor accounts lose money trading CFDs with this provider.

Summary about nextmarkets

In summary, our nextmarkets experience can be described as predominantly positive. Because nextmarkets has only been active for a few years, the broker scene is already mixed. Especially trading beginners are quickly convinced by nextmarkets with helpful trading tools such as Curated Investing, Coachfolio and the intuitive Webtrader.

nextmarkets review highlights
Minimum deposit in USD$100
Trade commission in USD$0
Withdrawal fee amount in USD$0
Available trading instruments8000
Pro & Cons of  nextmarkets

What are the pros & cons of nextmarkets?

What we like about nextmarkets

Positive nextmarkets experiences for traders will definitely occur from Coachfolio and Curated Investing. Both are ideal for trading beginners and even for advanced traders. Through the casual implementation, anyone can look at professional trading approaches and decide whether to follow them directly or not. Coachfolio goes one step further and allows the private investor (similar to social trading) to copy the trades of a coach 1 to 1. This is possible from the smallest Euro amounts and is therefore also suitable for traders with small accounts. The trading platform is very modern and simply structured and helps especially beginners to find their way around as quickly as possible. During the creation of orders you can choose the leverage freely (within the ESMA restrictions, if you do not unlock as a Pro). All products from the category shares are currently available as CFDs, but can be traded unleveraged and without additional commissions or minimum fees. In the future, trading of classic physical shares will also be possible.

Most spreads are average to low. For example, the DAX is low at 1 point, but the gold spread is rather high at 0.8. nextmarkets offers innovative CFD products such as a savings CFD or CFD baskets and does not charge any financing costs for long positions and leverage 1:1.

  • Coachfolio & Curated Investing
  • Leverage freely selectable (ESMA apply)*
  • Free stock trading
  • Modern & simple trading platform

What we dislike about nextmarkets

Negative nextmarkets experiences will occur for some traders with the lack of CFD futures. Especially for swing traders these products are currently missing. The spreads are small in places (EUR/USD, DAX) and on the other hand slightly increased (e.g. gold). Some advanced traders will probably miss an ECN/RAW account with DMA/STP execution. Otherwise, for some PayPal as a payment option for deposits will be missing.

  • No CFD Futures
  • Average spreads
  • No ECN/STP/DMA/RAW account model
  • No PayPal
Available Trading Assets at  nextmarkets

Available trading instruments at nextmarkets

nextmarkets offers over 800 different trading instruments for trading.

Innovative products offered include the so-called Money Market CFD with a currently fixed performance of 1.25% p.a. The Money Market CFD can be traded around the clock from Monday to Friday and thus promises maximum flexibility. In addition, nextmarkets offers several basket CFDs, each of which can be used to invest in a basket of shares in different sectors.

The trading instruments include:

  • +21 forex/currency pairs
  • +5 Raw materials
  • +7 Indices
  • +700 shares from the following countries (USA, DE, UK, Austria, Spain, France)
  • +1 Money Market CFD
  • +1 Property Index CFD
  • +1 Real Estate CFD
  • +1 Green CFD
  • +1 Life Science CFD
  • +1 US Titans CFD
 nextmarkets Review

Conditions & detailed review of nextmarkets

nextmarkets is a newcomer compared to long established brokers such as CMC Markets or XTB, but offers interesting and innovative functions that no other broker currently offers in this form. nextmarkets is the first broker to offer Curated Investing as well as Coachfolio as a tool for private traders. The aim is to support the traders and thus increase the quota of successful traders. nextmarkets is a market maker and does not offer ECN/RAW or STP/DMA accounts, which is not surprising given the services offered. The general ratings of nextmarkets are positive, which can already be seen in the app ratings. General fees are not available. The spreads at nextmarkets are often small, only increased in places. Learning videos and webinars are also available for trading beginners.

nextmarkets was founded by former ayondo founder Manuel Heyden and his brother Dominic. The Heyden brothers have recognized the problems of the social trading platform ayondo. Therefore, nextmarkets tries to solve the problems of social trading through Coachfolio and Curated Investing while maintaining the most interesting aspects (such as copying successful traders).

We have written a separate article for those traders who are not familiar with Curated Investing. In short: Curated Investing takes private investors by the hand and supports them with coaches and professional traders. In this way it is possible to map or copy individual ideas from selected top traders.

coachfolio nextmarkets

What is Coachfolio?

Coachfolio enables the automated copying of all trades of a selected coach. You copy the portfolio of the selected Pro Trader and participate directly in the profit and loss. You can either follow all coaches or only selected coaches and thus create a widely spread portfolio. This already works with smaller deposits.  The development of the coach portfolio is updated in real time.

When you use Coachfolio, all trading instruments are automatically traded, i.e. indices, stocks, currencies, commodities, cryptos, bonds and ETFs. This is because these are an integral part of the Coachfolio categories and cannot be deselected at this time.

Trading Platform of  nextmarkets

Software & trading platform of nextmarkets

The trading software from nextmarkets focuses on the specially developed Webtrader, as well as their mobile app. Popular trading platforms such as MetaTrader 4 or MetaTrader 5 (from 2022) were added subsequently at the request of customers. However, certain additional offers such as Coachfolio and Curated Investing are not possible via the MT4 and MT5 structure.

We recommend that existing MetaTrader users test the Webtrader from nextmarkets. The webtrader fulfils most of the traders' wishes and also offers some functions for chart analysis. The following image shows some popular indicators such as the RSI, Bollinger or Pivots.

The order mask of nextmarkets is elegantly solved. You can place orders either in units or with a selected amount as long or short position. The leverage is also freely selectable (up to 1:100 as Pro Trader and max. 1:30 as normal trader). Helpful is also the display "required margin" which shows how much capital is needed to open the position. Additionally you can see the point profit or loss for the selected size. Of course you can choose between Market Order (immediate execution) and Entry Order (choice of entry e.g. DAX 12050).

The mobile trading app from nextmarkets is very intuitively modern and extremely popular. With 4.7 out of 5 stars and over 700 ratings, most trading apps can take a leaf out of your book. The app is available for both iOS and Android and can also be used with tablets. Most of the functions as in the Webtrader can also be used in the mobile app. However, the chart analysis functions are somewhat more limited.

Different Trading Accounts at nextmarkets

Your account at nextmarkets

nextmarkets offers only one account type and differs drastically from most other brokers in this respect. There is neither an ECN account with RAW commissions nor a separate DMA/STP account. On the negative side for some traders, there is no ECN or DMA/STP account available. On the positive side, however, every trader has the same conditions and is not graded according to the amount of the deposit. This means that every trader is treated equally and fairly. Additionally, there is no confusion when opening an account due to different account types or regulations. An Islamic account is currently not offered by nextmarkets. The demo account is available free of charge and unlimited.

However, nextmarkets compares itself not only with CFD and Forex brokers, but also with online brokers, as nextmarkets will soon be offering free share trading. A direct comparison can be drawn from the following table.

Online Brokernextmarkets
No account management fees✔️✔️
Trading without leverage possible*✔️✔️
No withdrawal fees✔️✔️
Spreads at XETRA level✔️✔️
No dividend fees**✔️
No order fees✔️
Trade with leverage possible✔️
Trading-coaches included✔️
Smart financial products included✔️

 

* Trading on nextmarkets currently takes place via CFDs. Therefore the share is not physically held and the investor has no voting rights.

** In some cases, online brokers charge a fee for dividend payments

By regulation, every new client must go through some basic compliance checks to ensure that you understand the risks of trading and are admitted to trading. When you open an account, you will probably be asked for the following items, so it is good to have them handy:

A scanned colour copy of your passport or national ID
A utility bill or bank statement from the last six months with your address

You will also need to answer a few basic compliance questions to confirm how much trading experience you have. It is therefore best to take at least 10 minutes to complete the account opening process.

Although you can explore the demo account immediately, it is important to note that you cannot make any real trading transactions until you have passed compliance, which can take up to several days depending on your situation.

To nextmarkets
75.5% of retail investor accounts lose money trading CFDs with this provider.
Deposit and Withdrawals at  nextmarkets

Deposits and withdrawals at nextmarkets

nextmarkets offers several payment options for deposits and withdrawals. In this case, no fees are charged for either payouts or deposits. With a small minimum deposit of 100€, even traders with a small account can become active in nextmarkets.

nextmarkets currently offers the following payment options:

  • Bank transfer
  • Credit cards (Visa, Mastercard)
  • Trustly

Credit card and Trustly deposits are processed instantly.

Service of  nextmarkets

How is the service at nextmarkets

Traders are likely to have good experiences with the service of nextmarkets. The offer of live chat could be expanded. The service for German customers is handled by nextmarkets' office in Cologne, among others. The address for this office is: nextmarkets GmbH - Friesenstraße 50, 50670, Cologne. The customer service is available Monday to Friday from 09:00 to 18:00 hours via:

  • Phone: +49 221 98259 007
  • Contact form
Is  nextmarkets regulated and secure or scam?

Regulation & Safety at nextmarkets

nextmarkets is reputable and regulated. nextmarkets Trading Limited is a company registered in Malta (registration number C 77603) and licensed and regulated by the Malta Financial Services Authority (MFSA) as a financial services company under licence IS/ 77603.

Due to the MFSA regulation, nextmarkets is also subject to the EU/ESMA guidelines and therefore also to the leverage restrictions. The MFSA is considered somewhat higher by most traders than the comparable CySEC regulation, which is somewhat discredited by some traders.

More information can be found on the MFSA website.

Highlights of nextmarkets

Finding the right broker for you is not easy, but hopefully you now know if nextmarkets is the best choice for you. If you are still unsure, you can use our forex broker comparison to get a quick overview.

  • ✔️ leverage max. 1:30 - Pro 1:100
  • ✔️ Free demo account for trading beginners
  • ✔️ Curated Investing & Coachfolio
  • ✔️ Over 800 trading instruments

Frequently asked questions about nextmarkets

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Is nextmarkets a good broker?

XXX maintains a competitive trading environment and offers services by Trading Central, which many traders find valuable.

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Is nextmarkets a scam broker?

XXX is a legit broker operating under CySEC oversight. No scam warning has been issued on the CySEC website.

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Is nextmarkets regulated and trustworthy?

XXX remains fully compliant with CySEC rules and regulations. Traders should view it as a safe and trusted broker.

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What is the minimum deposit at nextmarkets?

The minimum deposit at XXX to open a live account is $250.

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Which trading platform is available atnextmarkets?

XXX offers the core MT4 trading platform and a proprietary WebTrader.

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Does nextmarkets offer a free demo account?

Yes. XXX offers an unlimited demo account for trading beginners or testing purposes.

Trade at nextmarkets
75.5% of retail investor accounts lose money trading CFDs with this provider.

Author of the review

Florian Fendt
An ambitious investor and trader, Florian founded BrokerCheck after studying economics at university. Since 2017 he shares his knowledge and passion for the financial markets on BrokerCheck.

At BrokerCheck, we pride ourselves on providing our readers with the most accurate and unbiased information available. Thanks to our team’s years of experience in the financial sector and feedback from our readers, we have created a comprehensive resource of reliable data. You can therefore confidently trust the expertise and rigor of our research at BrokerCheck. 

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nextmarkets
Trader Rating
3.7/5 stars (18 reviews)
Excellent56%
Very good11%
Average5%
Poor0%
Terrible28%
To nextmarkets
75.5% of retail investor accounts lose money trading CFDs with this provider.

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