NextTrade Forex Broker

NextTrade Review Summary Founded1999 Registered Country/RegionSouth Africa RegulationExceeded Market InstrumentsForex, Commodities, CFDs, Indices Demo AccountNot Mentioned LeverageUp to 1:500 SpreadStarting from 0.4 pips Trading PlatformTradeLocker Min Deposit$10 Customer Support+27 31 100 1703 support@nexttrade.comNextTrade Information NextTrade is an online trading platform that offers trading in forex, commodities, CFDs, and indices, with access to over 150 assets. Leverage varies by instrument, reaching up to 1:500 for Forex. Trading is conducted on the TradeLocker platform, with spreads starting from 0.4 pips and a fixed commission of $7 per standard lot. The company requires a minimum deposit of $10.Pros and Cons ProsCons Supports Meta Trader 4 Exceeded regulatory status High leverage up to 1:500 Limited account variety Offers multiple assets to tradeIs NextTrade Legit? NextTrade once had a Financial Service Corporate license regulated by the Financial Sector Conduct Authority (FSCA)in South Africa with a license number of 52855. However, this license now has an exceeded status. Regulatory StatusExceeded Regulated bySouth Africa Licensed InstitutionThe Financial Sector Conduct Authority (FSCA) Licensed TypeFinancial Service Corporate Licensed Number52855What Can I Trade on NextTrade? NextTrade allows trading across diverse asset classes, including CFDs on stock indices, various commodities like gold and silver, and a wide selection of FX pairs such as EUR/USD and USD/JPY. They offer over 150 assets across 5+ asset classes. Tradable InstrumentsSupported Forex✔ Commodities✔ CFDs✔ Indices✔ Bonds❌ Shares❌ Futures❌Account Type NextTrade offers a standard ECN account for all traders, which involves a fixed commission of $7 per standard lot traded.Leverage NextTrade's leverage options will vary depending on the pair/instrument chosen. Asset ClassLeverageAdditional Notes Stocks1:20- Cryptos1:100Excluding SHBUSD100 which is 1:30. For accounts with equity over 500K, leverage is 1:50. Metals1:200For accounts with equity over 500K, leverage is 1:50. Indices or Energies1:200For accounts with equity over 500K, leverage is 1:50. Forex1:500For accounts with equity over 500K, leverage is 1:200.NextTrade Fees NextTrade offers spreads starting from 0.4 pips and charges a fixed commission fee of $7 per standard lot traded.Trading Platform Trading PlatformSupportedAvailable DevicesSuitable for TradeLocker✔PC and MobileInvestors of all experience levelsDeposit and Withdrawal NextTrade requires a minimum deposit of $10. Deposit Options: Deposit OptionsMin. DepositFeesProcessing Time Bitcoin (BTC)$10N/A1-3 Hours (to reach Blockchain Network) + 3-6 Hours (Blockchain Confirmation for applicable crypto deposits) Ethereum (ETH)$10N/A Litecoin (LTC)$10N/A Ripple (XRP)$10N/A Dogecoin (DOGE)$10N/A Tether (USDT) (TRC-20)$10N/A USD Coin (USDC) (BEP-20/TRC-20)$10N/A Credit Card or Bank Transfer$10N/A Withdrawal Options Withdrawal OptionsMin. WithdrawalMaximumFeesProcessing Time Bank Transfer$10No LimitN/A3-5 business days Bitcoin$100No LimitN/ADepends on network traffic USDT$50No LimitN/ADepends on network traffic