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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.

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:

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

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

Tokyo Session

London Session:

New York Session:

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):

Proof of Address (POA):

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:

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:

Mobile Trading on NextTrade

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

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

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: 

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.

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

Timeframes

Technical Indicators

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

User-Friendly Interface

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.

PROS

  • Wide Range of Trading Instruments: Over 1000 trading instruments, including forex pairs, cryptocurrencies, stocks, shares, commodities, and indices. 
  • Licenced and regulated broker
  • Commission-Free Trading: NextTrade offers commission-free trading, making it cost-effective for traders.
  • Meta Trader (MT4/MT5) Platform: The Meta Trader is a well-established and widely respected trading tool. 
  • High Leverage: The platform offers a maximum leverage of up to 1:500, providing traders with the opportunity to magnify their positions.

CONS

  • Missing Minimum Spread Information: The absence of minimum spread details makes it challenging for traders to evaluate the cost of trading on the platform accurately. 

FAQ

What is the minimum deposit required to start trading on NextTrade?

The minimum deposit to start trading on NextTrade is €10, offering accessibility to traders with various budget sizes.

What is the range of trading instruments available on the platform?

NextTrade provides access to over 1000 trading instruments, including forex pairs, cryptocurrencies, stocks, shares, commodities, and indices, allowing traders to diversify their portfolios.

What are the trading commissions on NextTrade?

NextTrade offers commission-free trading, meaning traders can execute their trades without additional trading fees.

What trading platform does NextTrade use?

NextTrade uses Meta Trader (MT4 and MT5), a widely respected trading platform known for its features and customization options.

Are there any bonuses and promotions available for traders?

NextTrade offers 100% deposit bonus.

What is the maximum leverage offered on NextTrade?

NextTrade offers a maximum leverage of up to 1:500, providing traders with the option to magnify their positions.


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