NextTrade Review

NextTrade is a Forex broker launched in November 2023. The owner is Riza Financial. NexTrade has the idea of transforming the financial market experience with the latest technology.

NextTrade Pros and Cons

Is NextTrade Secure?

NextTrade is a secure broker. It’s registered at 8 Bond Street, Mount Moreland, Kwazulu Natal 339, in South Africa. The registration number is 2921/010163/07.

Markets and Products

At NextTrade you can trade:

• Over 60 Forex pairs
• Stocks and Shares
• Commodities
• Indices
• Cryptocurrencies

You’ll need to choose the leverage when you create a Live account. Leverages depend on the trading instruments:

Trading Instrument	Standard Leverage	Special Conditions
Stocks	1:20	N/A
Cryptos	1:100 (Excluding SHBUSD100 which is 1:30)	Accounts with equity > 500K: 1:50
Metals	1:200	Accounts with equity > 500K: 1:50
Indices/Energies	1:200	Accounts with equity > 500K: 1:50
Forex	1:500	Accounts with equity > 500K: 1:200

NextTrade Fees and Charges

There are no deposit fees except a 2.5% for cryptocurrencies. NextTrade doesn’t charge a fee for withdrawals. But, there’s a $10 inactivity fee if you don’t trade for 6 months.

Trading Commission fees depend on the account type:

• Standard – $5 per lot
• .Pro – $8 per lot
• .Var – none
• .Mini – $1 per lot

NextTrade Account Types & Account Opening

There are three account types at NextTrade:

• TradeLocker Next Account – Ideal for all types of traders
• TradeLocker Islamic Account – An account for people who prefer trading in accordance with Sharia Law
• TradeLocker Demo Account – An account for people who want to try out the features NextTrade offers

How to Open an Account

If you want to create an account at NextTrade, the process is as simple as it can be. Just follow these steps:

• Click the “Sign up” button
• Fill in the personal information
• Accept the terms and conditions
• Verify your email address
• Complete the additional account verification requirements
• Fund your account with the minimum deposit 

After this, you’re ready to trade on your account.

Trading Platforms

NextTrade offers the well known MetaTrader 5 and TradeLocker platforms. These platforms work with all types of devices. Besides that, they support many trading assets, and offer modern features.

Mobile Trading Platform

Unfortunately, NextTrade doesn’t have a mobile app you can use yet. 

NextTrade Research Tools

NextTrade doesn’t provide any information regarding the research tools.

NextTrade Educational Content

NextTrade tries their best to provide as many educational resources to their traders as possible. Currently, the only place you can find tips is their Instagram account. The broker has a lot of space for improval. With that being said, we can expect more educational resources in the future than they offer now.

Customer Service Overview

The NextTrade customer support is always available. You can contact them through email or live chat.

NextTrade Deposit Options

You can make the deposits using Alt Coins with no specified fees:

• BTC
• LTC
• ETH
• USDT
• DOGE
• XRP

NextTrade is working on accepting fiat currency too. The minimum deposit amount is $10. 

Withdrawal Methods and Payout Times

The only two accepted withdrawal options are Bitcoin and USDT. The processing time takes about 5 to 8 days. Specific fees are not mentioned, but you should know that some blockchain transaction fees may apply during Bitcoin withdrawals. 

NextTrade Online User Reviews and Ratings

There are no real user reviews on NextTrade on Trustpilot. This sadly can be an obstacle if you’re searching for reviews to know whether the broker is good for you or not. 

Author Opinion on NextTrade

NextTrade looks like a broker that can potentially make a big impact on the industry. One of the best things about it is the low deposit amount, and the range of trading tools and features it offers. It is definitely a broker worth trying for traders of all experience levels. 

FAQ