Richard Montana | November 17, 2022
nextmarkets is dedicated to helping private investors to operate in a sustainable and better educated manner on the stock exchange. For this purpose, the company developed a very easy-to-use trading platform in which private investors can trade a great selection of financial instruments across multiple asset classes including CFDs on major indices, currency pairs, bonds and commodities. You can get quick and easy access to the markets via an intuitive web platform and mobile app to invest in over 7,000 shares and 1,000 ETFs without paying a commission or other fees. I think they can be worth consideration for beginners and experienced investors who are looking for a simple way to invest in the global markets via your smartphone.
Pros & Cons
- Advanced trading platforms
- Multiple financial instruments
- Tools for market analysis
- Educational resources
- Commission free trading
- No MetaTrader platforms
- No standalone trading tools
- Min $500 deposit
- Limited account funding options
- Cannot accept clients from some countries
Headquartered in Cologne, Germany, nextmarkets is a commission-free online broker that offers first-class execution of clients’ orders via an award-winning trading app. In addition to very favourable trading conditions, they give can provide access to trading coaches and other educational resources that can help you to get the most out of your trading. The account opening process is swift and a customer support team is always available to assist you with anything that you need. The broker’s subsidiary in Malta is licensed to offer securities trading, act as a portfolio manager, and also offer financial products throughout Europe. At nextmarkets, you pay neither order and custody fees nor hidden costs such as flat rates or third-party fees.
When it comes to choosing a broker, regulation is one of the most important things to look for. I would always prefer to use a regulated broker as they can provide certain protections that an unregulated broker cannot should things go wrong. nextmarkets Trading Limited is authorised and regulated by the Malta Financial Services Authority (MFSA) as a financial services company. The MFSA main functions include the protection of consumers, integrity of financial markets, financial stability and the supervision of all financial services activities.
nextmarkets offers its services to clients from different parts of the globe where the use of such services would not be contrary to local laws and regulations. If you find they do not accept users from your country when you go to open an account, please feel free to browse our broker reviews for an alternative option.
nextmarkets operates an in-house web-based platform that is very tidy, modern and user-friendly. The web platform is designed to run directly on most modern web browsers without the need to download and install any additional software. The company’s platform is easy-to-use and helps to invest in stocks including equities, foreign exchange, and other asset classes, as well as provides training and strategies of trading to new private investors, enabling users to understand the stock market and trade in an enhanced way.
There is also a mobile trading app that is compatible with Android and iOS devices and can be downloaded from the respective websites. I found the nextmarkets app easy to navigate with an intuitive interface that made it easy to find everything I needed in just a few taps. I don’t think anyone would have any issue using the app to study the markets, place and manage trades. I like how the app allows users to familiarise themselves, free of charge, with trading financial instruments to build up and expand their knowledge and skills in this area.
There are some handy tools available from within the platforms which you can use for analysing the charts to find opportunities. You will find some basic indicators that you would expect from most platforms but nothing too ground breaking. I would say they are slightly lacking when it comes to built-in tools when compared to other brokers such as IG who have industry leading platforms that are loaded with tools for complex market analysis. That being said, if you are an average retail trader just looking to run some basic strategies and don’t have any specific requirements, there should be enough for you to get by. You will have to make do with the platform tools as there are no standalone trading tools on the nextmarkets website at the moment. This is an area in which I feel there is room for improvement.
You will find a decent selection of learning materials that are designed to improve your trading knowledge and keep you them informed on the factors that control the financial markets. They include market news, press releases, a useful FAQ section and trading guides. If you are you new to the stock markets or simply don’t know which stocks to invest in, nextmarkets provides you with more than a dozen trading coaches who publish up to 200 independent real-time ideas in seven different asset classes such as shares, ETFs or indices. I think it is great how you can learn from pros and follow them with a swipe if you wish. However, there is no dedicated trading academy with step by step walkthroughs and video tutorials. If you are an absolute novice, then you may want to take a look at our best brokers for beginners.
You can invest in more than 7,000 shares from 52 countries, as well as in over 1,000 ETFs. The nextmarkets trading hours are from 8am to 10pm CET. You can also trade shares and ETFs as CFDs with leverage. In addition, all major indices, currency pairs, bonds and commodities are available as CFDs. A contract for differences (CFD) is a financial contract that pays the differences in the settlement price between the open and closing trades. CFD trading essentially allows investors to trade the direction of securities over the very short-term without needing to physically own the underlying asset. The difference in price between when you open and close the trade is your profit or loss, minus any applicable brokerage fees.
Commission Free Trading
nextmarkets, like any other online broker, receives rebates from exchanges where transactions are executed. Due to their proprietary technology and unique corporate structure, they can therefore waive an order commission that is normally paid by investors. Only minor transactions under €250 are subject to a fee of one euro each.
You are allowed to create a single live trading account as well as a demo account for practice purposes. The minimum deposit required to open the live trading account is €500 which isn’t the cheapest you will find. Trade Nation let you get started with a minimum deposit of juts €1 in comparison. There are no deposit fees, negative interest rates, minimum investment amount or anything similar. You can trade all shares free of trading commission. You can open your nextmarkets account easily via the website or by your smartphone. The requirements are that you are at least 18 years old. When you create an account you can trade on the gettex trading platform operated by the Munich Stock Exchange segment. The price quality is monitored by the exchange.
You can register today to try a free demo account that comes complete with 10,000 of virtual money to invest, and find out where your trading skills might take you. The demo account can be a great way to get a taste for what nextmarkets have to offer and see if it is a good fit for you without making any financial commitment.
The nextmarkets client support team is available 24/7 to respond to your trading inquiries. They have a dedicated customer service department that can be contacted via phone or an online contact form. I think it would be great if they could also add live chat support as I find this to be the most convenient way to connect with brokers. The website is available in seven different languages to reach a wider audience. On the nextmarkets platform, they have comprehensive help and support sections for you to refer to in any situation, along with vast resources and tools to help with your learning as you grow into your trader journey. You should never find yourself left alone if you have any questions or encounter problems with your account.
Making deposits and withdrawals with your online broker needs to be as convenient, secure and hassle-free as possible. nextmarkets offer a limited range of payment methods to provide you with security and convenience every time you make a transaction. Account deposits and withdrawals can be processed using bank transfers and card payments. Funding with nextmarkets is simple and secure, using whichever payment platform you choose to fit best with your own trading strategy.
At nextmarkets they don’t charge any fees for making deposits. Debit or credit card transactions are a popular payment type; everyone is familiar with processing online transactions by card, and there are many security measures in place to keep them safe. If, however, that option isn’t for you, there are various alternatives. Bank transfers are an option, but they are slow and rather complicated, and can incur banking fees in many cases. I think it would be great if they can add support for some more digital wallets as I find this to be the quickest and easiest way to move funds around between my trading accounts. If you want more funding options then Trading 212 have a nice selection.
Compare Broker Features
|This Broker||AvaTrade||IG||IC Markets|
|Regulated||ADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSA||ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA||ASIC, CySEC, FSA, SCB|
|Commission||From $0||From $0||From $0|
|Instruments||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Bonds|
|Platforms||MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade||MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API||MetaTrader 4, MetaTrader 5, cTrader|
|Funding||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets|
Overall, I think nextmarkets is a good broker for anyone who is looking for a simple way to invest in stocks and trade CFDs. You can access a great selection of financial instruments across various markets using intuitive web platforms and modern investing apps. They have the right resources and environment to facilitate smooth trading and provide various educational resources to assist with your decision making. They also offer tight spreads, zero commissions, and on-demand leverage to clients. However, the minimum deposit is not the lowest whilst I feel active day traders will find the platforms and tools slightly limited compared to what they may be used to. Please feel free to check our best stock brokers for some alternative options. Otherwise, you can always open a free demo account to see of nextmarkets meet your expectations.