Global Next Trade Forex Broker

Global Next Trade Review SummaryFounded2019Registered Country/RegionCayman IslandsRegulationNo regulationMarket InstrumentsForex, commodities, indices, cryptocurrenciesDemo Account❌EUR/USD SpreadFrom 1.8 pips (Standard account)LeverageUp to 1:300Trading PlatformMT5, CQGCopy Trading✅Min Deposit$200Customer SupportTel: (+52) 8111341890Email: support@gntcapital.comAddress: Av. Ricardo Margain Zozaya 315, Col. Santa Engracia, San Pedro Garza, N.L. , 66263, MéxicoRegistered address: Two Artillery Court, 2nd Floor, 161 Shedden Road, George Town, PO Box 799, KY1-1103, Cayman IslandsGlobal Next Trade Information Global Next Trade was registered in Cayman Island while actually operates in Mexico. The company mainly deals in trading in forex, commodities, indices and cryptoscurrencies. It offers three live trading accounts, with a minimum deposit of $200, and tight spreads from 1.8 pips on the Standard account. The advanced MT5 platform is available to enhance customer experiences. In addition, the broker allows copy trading to follow successful investors and offers PAMM accounts, so you can entrust your trading to experienced money managers for better profit allocation. However, the broker currently operates without valid regulation from authority bodies, which degrade its legitimacy and reliability.Pros and ConsPros Cons Diverse tradable asset classesNo regulationTiered live accountsWikiFX complaints about poor earningsCommission-free accounts offeredHigh minimum depositFlexible leverage ratiosCopy tradingPopular payment optionsRegulatory Status Regulation is a crucial aspect of evaluating the legitimacy and reliability of a brokerage firm, and in the case of Global Next Trade, the broker operates without any valid regulatory oversight. The absence of a regulatory framework raises huge concerns regarding the broker's adherence to industry standards, financial transparency, and the protection of client interests.What Can I Trade on Global Next Trade?Tradable Instruments Supported Forex✔Commodities✔Indices✔Cryptocurrencies✔Stocks❌Bonds❌Options❌ETFs❌Account Type/Fees Global Next Trade offers four different live accounts: Standard, Silver and Platinum accounts, with increasing minimum deposit requirements of €200, €10,000 and €5,000 respectively. Spreads are from 1.8 pips for standard account and 0 pip for silver/platinum accounts. However, there's no commission for standard account, while the silver account charges a commission of $5 per side per lot and the platinum account $3.5 per side per lot.Account TypeMin DepositSpread CommissionStandard$200From 1.8 pips❌Silver$1 000From 0 pips$5 per side per lotPlatinum$5 000From 0 pips$3.5 per side per lotLeverage Global Next Trade offersa leverage level of up to 1:300 for standard account while 1:200 for silver and platinum accounts, which means you can control a larger position of up to 300 times of your initial deposit. However, you should always be very prudent to use such tool since leverage not only amplify profits, but losses will be augmented at same level as well.Account TypeMax Leverage Standard1:300Silver1:200PlatinumTrading Platform The broker offers multiple trading platforms: the advanced MetaTrader 5 with Android and iOS versions, a proprietary Pro Next Trade platform available on both Windows and MacOS, as well as the CQG platform with advanced analysis and charting tools.Trading PlatformSupported Available Devices Suitable forMT4❌/BeginnersMT5✔Android, iOSExperienced tradersPro Next Trade✔Windows, MacOSBeginnersCQG✔WebAdvanced tradersDeposit and Withdrawal Global Next Trade accepts payment through Bitolo (SPEI), Wirebit, and Match2pay (Crypto), as well as the option for domestic and international bank transfers. Additionally, VISA cards are also available for withdrawing profits.