NextTrade

NEXTTRADE REVIEW 2024

NextTrade is a new broker designed to transform the financial market experience using the latest technology.

NextTrade Company Information

Next Trade uses the TradingView platform and fosters a community where users collaborate, share insights, learn and thrive together.

What Makes Trading at NextTrade Different

NextTrade came to life in 2023. They accept various payment methods and all of them have an instant withdrawal feature, which means you won’t have to wait too long to cash out.

NextTrade Licence and Jurisdiction

NextTrade is owned by Riza Financial (Pty) Ltd as a Financial Intermediary with FSP Number 52855. It’s under the jurisdiction of South Africa.

Who is The Owner

Riza Financial (Pty) Ltd. Riza Financial (Proprietary) Limited, registration number 2021/010163/07, is a licensed financial services provider registered in South Africa.

Operating under the trade name “Next Trade,” the company is headquartered at 8 Bond Street, Mount Moreland, Kwazulu Natal 33901. 

Client Fund Protection

NextTrade Broker has  online security measures in place. All website features are up to the highest standards.

• SSL/TLS Encryption
• Trust Seals 
• Frequent Updates
• Strong Password Policies
• Secure Payment Options
• Data Collection Transparency 
• Limited Data Sharing
• Secure Checkout Process
• Firewall and DDoS Protection
• Regular Scanning for Malware

Traders are solely responsible for investing funds, managing accounts and decision making. As well as keeping his password and username safe. 

Restricted Countries 

Restricted Territories include, but are not limited to individuals residing in:

• Afghanistan, Botswana, Burma (Myanmar), Democratic Republic of Congo, Cuba, Ethiopia, Iran, Iraq, Japan, Lebanon, Libya, Malta, North Korea, Kenya, Pakistan, Republic of Congo, Somalia, Sri Lanka, Sudan, Syria, Trinidad and Tobago, Tunisia, Vietnam, Yemen, Zimbabwe.

Spreads & Commissions

Commission is 0% with tight spreads. Have in mind that the tightness of the spread can depend on factors such as the liquidity of the asset, market conditions and more.

Order Execution

The execution speed and accuracy offered by this service are nothing short of exceptional, setting it apart as a standout performer in the realm of financial transactions and trading.

How does the NextTrade Broker handle orders during high volatility or news events?

Considering that it’s a brand-new product, when our team did a rigorous stress test, it had zero delays. While there may be uncertainties, we have high confidence that once you experience this product, there won’t be any issues.

When is the best time to trade on Forex Using NextTrade?

It all depends on your strategy, goals, and the currency pairs you’re trading. The forex market is open around the clock during the business week, but it’s split into different trading sessions, each with unique traits. 

Sydney Session

• Time Zone: AEDT (Australian Eastern Daylight Time) or AEST (Australian Eastern Standard Time)
• Start Time: Typically begins at 7:00 AM AEDT (or 9:00 AM AEST) during daylight saving time.
• End Time: Ends at 4:00 PM AEDT (or 6:00 PM AEST) during daylight saving time.

Note: This session may vary slightly due to daylight saving time changes.

Tokyo Session

• Time Zone: JST (Japan Standard Time)
• Start Time: Often overlaps with the Sydney session and starts at 9:00 AM JST.
• End Time: Typically closes at 6:00 PM JST.

London Session:

• Time Zone: GMT (Greenwich Mean Time) during Standard Time or BST (British Summer Time) during daylight saving time.
• Start Time: Begins at 8:00 AM GMT (or 9:00 AM BST) during daylight saving time.
• End Time: Closes at 4:00 PM GMT (or 5:00 PM BST) during daylight saving time.

New York Session:

• Time Zone: EST (Eastern Standard Time) during Standard Time or EDT (Eastern Daylight Time) during daylight saving time.
• Start Time: Often overlaps with the London session and starts at 8:00 AM EST (or 9:00 AM EDT) during daylight saving time.
• End Time: Typically closes at 5:00 PM EST (or 6:00 PM EDT) during daylight saving time.

Overlap Periods:

The London and New York sessions overlap during daylight saving time in the Eastern Time Zone, from approximately 8:00 AM to 12:00 PM EST (or 9:00 AM to 1:00 PM EDT).

The Tokyo and London session overlap typically occurs from 8:00 AM to 9:00 AM GMT (or 9:00 AM to 10:00 AM BST) during daylight saving time.

The “best” time varies depending on your strategy. Day traders typically focus on the most active periods, like when London and New York markets overlap, as this is when price movements tend to be more significant. 

On the other hand, swing traders have more flexibility and can adapt their approach based on different trading sessions.

Market Analysis & Signals

Traders can use charting to visualize and apply the information provided by market analysis reports and trading signals. 

This visual representation of data helps them make informed decisions, time their trades effectively, and manage risk in the financial markets.

NextTrade KYC Process

Proof of Identity (POI):

• Valid Passport
• ID or driver’s license

Proof of Address (POA):

• Utility Bill (e.g., electricity, water, gas)
• Bank Statement
• Rental Agreement
• Government Issued Residence Certificate

Trading Assets, Indicators & Features 

Specific trading assets on NextTrade are forex, stocks, shares, currencies, commodities, indices and more.

Assets Samples: 

Stocks: IBM (US), MICROSOFT (US), APPLE (US), CITI (US), COCA COLA (US), GAZPROM (RUSSIA), HSBC HOLDINGS (LONDON), LUKOIL (RUSSIA), NIKE (US), SBERBANK (RUSSIA), TATA MOTORS (INDIA), TESCO (UK), AMAZON (US), GOOGLE (US), FACEBOOK (US), TWITTER (US), EBAY (US), ALIBABA (US), MCDONALDS (US), WALT DISNEY (US).

Currencies: EUR/GBP, EUR/JPY, EUR/USD, GBP/USD, NZD/USD, USD/CAD, USD/CHF, USD/JPY, USD/RUB, USD/SGD, USD/TRY, USD/ZAR.

Commodities: COFFEE, GOLD, OIL (LIGHT SWEET CRUDE), PLATINUM, SILVER, SUGAR, WHEAT.

Indices: BOMBAY SE, DAX (GERMANY), DOW (US), DUBAI FINANCIAL MARKET GENERAL INDEX (DUBAI), FTSE 100 (UK), HANG SENG (HONG KONG), KUWAIT GENERAL INDEX (KUWAIT), MICEX 10 (MOSCOW INTERBANK EXCHANGE), NASDAQ (US), NIKKEI 225 (JAPAN), RTS (RUSSIAN TRADING SYSTEM, MOSCOW, RUSSIA), S&P 500 (US), SSE 180 (SHANGHAI STOCK EXCHANGE), TADAWUL (SAUDI STOCK EXCHANGE), TEL AVIV 25, TOPIX.

Advanced Charting

Integration with TradingView gave NextTrade an option to provide interactive and customizable charts with multiple timeframes, chart types, and drawing tools.

Stock and Cryptocurrency Screeners

Screeners will allow you  to filter and find trading assets based on specific selected criteria, such as price, volume, and technical indicators.

Trading Integration

This broker offers direct trading integration with the TradingView platform, allowing you to execute trades.

Social Networking

Traders can easily communicate with traders and investors, share ideas, and comment on charts.

Market Data

You can access real-time and historical market data for a wide range of assets. This way you can stay informed about any potential price movements.

Fundamental Analysis

You can access all important data, news, and events. That way you can make better trading decisions.

Educational Resources

NextTrade plans to provide educational content, including tutorials, articles, and webinars to help anyone improve trading skills.

Does NextTrade Offer Bonuses?

NextTrade offers 100% deposit bonus.

Account Types:

• Trade Locker Next Account
• Trade Locker Islamic Account
• Trade Locker Demo Account

JOINT ACCOUNT OWNERS

If the Trading Account is held by more than one (1) person, all the joint holders agree that they are all fully liable for the obligations assumed in this Agreement as stated in their Terms and Conditions. 

How to Start Trading at NextTrade

Account Login and Registration:

• Go to Sign up button and open the account 
• Fill in the details 
• Check email for confirmation 
• Login

Mobile Trading on NextTrade

NextTrade’s mobile app offers a range of features to enhance your trading experience:

• User-Friendly Interface: Use the app effortlessly, access market data, and trade.
• Real-Time Market Data: Up-to-the-minute price quotes, charts, and news feeds.
• Efficient Order: Place various order types, fast and effective execution.
• Technical Analysis Tools: Use built-in charting tools, indicators, and drawing features.
• Account Management: Manage your trading accounts, review transaction history, and make deposits or withdrawals.
• Enhanced Security: Encryption and authentication keeps your accounts and data safe.

While mobile trading offers numerous benefits, there are a few considerations to keep in mind:

• Limited Screen Size: On smaller screens, you may need to prioritize information.
• Potential Distractions: Trading on the go can impact decision-making.
• Battery & Connectivity: Be mindful of internet & battery usage for uninterrupted trading.
• Complex Strategies: Implementing strategies can be more challenging on mobile. .

NextTrade Payment Options 

Deposit Methods 

Alt Coins (BTC, LTC, ETH, USDT, DOGE, XRP). You can deposit using your E-wallet. The Company is also looking to accept fiat currency via wire transfer and credit cards.

Deposit Process: 

• Log In to Your Trading Account
• Access the Deposit Section: Once logged in, navigate to the deposit or funding section of your trading account. 
• Select the Deposit Method: Choose your preferred deposit method
• Enter Deposit Amount: Specify the amount you want to deposit. 
• Confirm and Review: Before finalizing the deposit, review the information.
• Complete the Transaction: Follow the on-screen instructions to complete the deposit. 
• Confirmation: After the deposit, you’ll receive a confirmation. Check your account balance.
• Start Trading: With the initial deposit in your trading account, you are now ready to start trading. 

Withdrawal Methods 

Bitcoin, USDT. You can withdraw using your E-wallet. 

Withdrawal Process:

To request a partial or complete withdrawal of funds from your account, you must click on “Withdrawal request” in the Next Trader LLC portal.

• Log In to Your Trading Account
• Navigate to the Withdrawal Section
• Choose the Withdrawal Method
• Withdrawal Amount: Enter the amount you wish to withdraw from your trading account. 
• Review Withdrawal Details: Double-check the withdrawal amount, method, and recipient details (e.g., wire, e-wallet).
• Submit the Withdrawal Request
• Wait for Processing
• Receive Confirmation: Once the withdrawal is processed, you’ll receive a confirmation.
• Check Your Bank or Wallet
• Monitor Account Balances

Fees

$10 inactivity fee or equivalent in the alternative currency if they have not traded within the last 6 Months. 

NextTrade Trading Platform

NextTrade is using Meta Trader (MT4 and MT5). Meta Trader is a very versatile trading platform that is compatible on many devices. Whether you love using a desktop computer, mobile, or tablet, Meta Trader is a good solution.

The desktop version offers advanced features and customization options, while the mobile and web-based versions provide convenient and hassle-free access to the markets.

1. Desktop (Windows and macOS):

Meta Trader works with no issues on both Windows and macOS operating systems.

2. Mobile (iOS and Android):

Meta Trader offers mobile apps for both iOS and Android devices, allowing you to trade on the go.

3. Web-Based (MT4/MT5 WebTrader):

Meta Trader WebTrader is a web-based version of the platform compatible with popular web browsers like Chrome, Firefox, and Safari. It works on Windows, macOS, and Linux systems. There is no need for software installation. 

High-Quality Charts and Indicators

Charting is a visual representation of historical price and volume data for a particular financial instrument, such as a stock, currency pair, commodity, or index. Traders and analysts use it to analyze past price movements and predict future trends.

Chart Types

• Description of the types of charts available on the broker’s platform (candlestick, line, bar, Renko, Heikin-Ashi, etc.).
• Benefits and drawbacks of each chart type for analysis.

Timeframes

• Overview of the various time frames provided (1-minute, 4-hour, daily, etc.).
• How to switch between different timeframes for in-depth analysis.

Technical Indicators

• List of technical indicators available on the platform (moving averages, RSI, MACD, Stochastic Oscillator, etc.).
• How to add and customize these indicators on your charts.

Community Features

We haven’t found any social profiles or community activity since the broker is new. 

User Reviews and Broker Community

New Broker platform. We haven’t found many user reviews of the service. 

Customer Support at NextTrade

• Availability of customer support: 24/7
• Response time and quality of customer support: Outstanding, they respond immediately. 

User-Friendly Interface

• NextTrade has a very logical and well-organized website easy to use. The central focus of the platform is the charting area. 
• Order placement tools, including buy and sell buttons, are near the charting area. This allows traders to execute orders quickly.
• Account-related information, such as account balance, equity, and margin status, is displayed in a clearly visible location.You can check  account status at a glance. 
• Indicators and drawing tools are positioned conveniently near the charting area. You can add, customize, and remove technical indicators.

Verdict

NextTrade offers a trading environment that includes features such as a low minimum deposit, a diverse range of trading instruments, commission-free trading, and access to the popular Meta Trader platform. 

It is crucial for potential users to conduct thorough research and due diligence to determine if NextTrade aligns with their trading preferences and requirements. Traders should consider factors such as fees, regulations, customer support, and user reviews before making a decision.

FAQ