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BrokerChooser score
4.5

nextmarkets review summary

nextmarkets is an online broker providing CFD and real stock, ETF trading. nextmarkets offers commission-free real stocks and ETFs and has low CFD fees. The account opening is straightforward, quick and fully online. Email and phone customer support are fast and offer helpful answers. It is a good choice for beginner investors. On the negative side, nextmarkets only offers EUR and GBP (for UK clients) accounts. In addition, educational tools are limited solely to texts, and nextmarkets offers no fundamental data or market news to aid your trading decisions.

BrokerChooser gave nextmarkets a 4.5/5 rating based on analyzing 500+ criteria and testing via opening a live account.

nextmarkets is a regulated broker, it is overseen by a top-tier financial regulator in Malta . nextmarkets is also covered by investor protection in selected jurisdictions. We at BrokerChooser always test brokers with real money, including the withdrawal process.

You can't open an account at nextmarkets if you live in United States. See the best alternative available in your country.

nextmarkets pros and cons

Pros Cons
Commission free real stocks and ETFs Few account base currencies
Quick and easy account opening Limited educational tools
Great email and phone support No fundamental data or news flow

nextmarkets main highlights

🗺️ Country of regulation Malta
💰 Trading fees class Low
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $0
🕖 Time to open an account 1 day
💳 Deposit with bank card Available
👛 Depositing with electronic wallet Not available
💱 Number of base currencies supported 2
🎮 Demo account provided Yes
🛍️ Products offered Stock, ETF, CFDs (stock, crypto, index, forex, ETF, bond)
Compare to best alternative Visit broker
52.55% of retail CFD accounts lose money

nextmarkets review
Fees

4.5
Trading stocks/ETFs at nextmarkets is free for orders above €250, and there's no withdrawal or inactivity fee. However, financing rate calculations are not transparently displayed.
Pros Cons
Commission-free stocks and ETFs Financing rate calculation is non-transparent
Low CFD fees
Low non-trading fees
nextmarkets fees snapshot
Assets Fee level Fee terms
S&P 500 CFD Low The fees are built into the spread, 0.5 points is the average spread cost during peak trading hours.
Europe 50 CFD Low The fees are built into the spread, 1 point is the average spread cost during peak trading hours.
EURUSD Low The fees are built into the spread, 0.6 pips is the average spread cost during peak trading hours.
Inactivity fee Low No inactivity fee

How we ranked fees

We ranked nextmarkets's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

First, let's go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

In the sections below, you will find the most relevant fees of nextmarkets for each asset class. For example, in the case of forex and stock index trading the most important fees are spreads, commissions and financing rates.

We also compared nextmarkets's fees with those of two similar brokers we selected, eToro and Trading 212. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of nextmarkets alternatives.

To have a clear overview of nextmarkets, let's start with trading fees.

nextmarkets trading fees

nextmarkets has low trading fees. Real stocks and ETFs are commission-free, and fees are also low for CFD trading.

Real stock and ETF fees

nextmarkets provides commission-free real stock and ETF trading if your order is at least €250. Orders below €250 come with a fee of €1 per trade.

Stock and ETF commission for a $2,000 trade
  nextmarkets eToro Trading 212
US stock $0.0 $0.0 $0.0
German stock $0.0 $0.0 $0.0

CFD fees

We know it's hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products.

We have selected popular instruments within each asset class:

  • Stock index CFDs: SPX and EUSTX50
  • Stock CFDs: Apple and Vodafone
  • Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP

A typical trade means buying a leveraged position, holding it for one week and then selling. For the volume, we chose a $2,000 position for the stock index and stock CFDs and $20,000 for the forex transactions. The leverage we used was:

  • 20:1 for stock index CFDs
  • 5:1 for stock CFDs
  • 30:1 for forex

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let's see the verdict for nextmarkets fees.

Stock and stock index CFD fees

nextmarkets has generally low stock and stock index CFD trading fees.

nextmarkets CFD fees for a $2,000 long position held for one week
  nextmarkets eToro Trading 212
S&P 500 index CFD fee $1.4 $3.1 $1.5
Europe 50 index CFD fee $1.5 $3.2 $2.2
Apple CFD fee $5.6 $6.4 $14.2
Vodafone CFD fee - - $15.3

Forex CFD fees

nextmarkets forex CFD fees are low.

nextmarkets forex benchmark fees of a $20,000 30:1 long position held for one week
  nextmarkets eToro Trading 212
EURUSD benchmark fee $8.9 $15.6 $45,311.9
GBPUSD benchmark fee $2.1 $4.5 $23.5
AUDUSD benchmark fee $9.2 $9.6 $17.0
EURCHF benchmark fee $3.5 $12.5 $17.9
EURGBP benchmark fee $7.9 $16.4 $26.8

Non-trading fees

nextmarkets has low non-trading fees. There is no account or inactivity fee, and likewise no fees are charged for deposit or withdrawal.

nextmarkets non-trading fees
  nextmarkets eToro Trading 212
Account fee No No No
Inactivity fee No Yes No
Deposit fee $0 $0 $0
Withdrawal fee $0 $5 $0

 

nextmarkets review
Account opening

5.0
The account opening process is straightforward, fast and fully digital, and involves no minimum deposit. Our account was verified within one business day.
Pros Cons
Fast None
Fully digital
No minimum deposit

Can you open an account?

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52.55% of retail CFD accounts lose money

nextmarkets accepts clients mostly from the EEA region, but it is also present on some overseas markets such as Australia, Canada or Brazil.

What is the minimum deposit at nextmarkets?

The required nextmarkets minimum deposit is $0.

Account types

There are two account types you can choose from: personal and corporate accounts.

How to open your account

Account opening is fast, easy and fully digital. Our account was verified within one business day.

You need to go through the following steps to open your account:

  1. Provide your email address and country of residence
  2. Add your phone number and verify it
  3. Enter some personal data like your name, gender, address or employment status
  4. Answer a few questions about your financial status and trading experience
  5. Identify yourself and confirm your application

To identify yourself, you must upload the following documents:

  • Proof of identity - a passport or identity card
  • Proof of address - a bank statement, utility bill, or the back of your identity card (if it contains your address, and unless it was already used as proof of identity)

nextmarkets review - Account opening

Our best alternatives to nextmarkets are:

The highest ranking competitors are:

  1. eToro full review
  2. Trading 212 full review
  3. Capital.com full review
  4. Plus500 full review

nextmarkets review
Deposit and withdrawal

4.3
nextmarkets provides free deposit and withdrawal via a user-friendly interface. However, only EUR and GBP (for UK clients) are available as account base currencies.
Pros Cons
Credit/Debit card available Limited account base currencies
Free withdrawal
No deposit fee

Account base currencies

At nextmarkets, the only available base currency for the majority of clients is EUR. However, UK users can also open a GBP account.

Base currencies at nextmarkets vs similar brokers
  nextmarkets eToro Trading 212
Number of base currencies 2 1 8

If you have a personal bank account in a currency other than EUR or GBP, you will be charged a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Compare digital banks

Deposit fees and options

nextmarkets charges no deposit fees. You can fund your account using bank transfer or a credit/debit card.

nextmarkets deposit options
  nextmarkets eToro Trading 212
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes Yes
Electronic wallets No Yes Yes

nextmarkets review - Deposit and withdrawal - Deposit

When using the bank transfer option, you have two possibilities. You can either go with a transfer via Trustly, or you can opt for a manual deposit by bank transfer.

Transfers using Trustly usually take only a few minutes, but manual bank transfers can take several business days to arrive. Payment with a credit/debit card is instant.

You can only deposit money from accounts that are in your name.

nextmarkets withdrawal fees and options

nextmarkets charges no withdrawal fee. You can withdraw money using a bank transfer or a credit/debit card.

nextmarkets withdrawal fees and options
  nextmarkets eToro Trading 212
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes Yes
Electronic wallets No Yes Yes
Withdrawal fee $0 $5 $0

How long does it take to withdraw money from nextmarkets? We tested debit card withdrawal and it took 2 business days.

You can only withdraw money to accounts that are in your name.

How do you withdraw money from nextmarkets?

  • Log in to your account
  • Hover over your profile at the top right corner and click 'Deposit and Withdrawal'
  • Choose 'Withdrawal'
  • Enter the withdrawal amount and your password
  • Confirm the withdrawal request

nextmarkets review
Web trading platform

3.8
nextmarkets has a user-friendly web trading platform, with a clear fee report and safe login. On the negative side, the platform is not customizable and lacks price alerts.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report No price alerts
Two-step (safer) login
nextmarkets platforms to choose from
Trading platform Score Available
Web 3.8 stars Yes
Mobile 4.8 stars Yes
Desktop - No

nextmarkets has its own self-developed trading platform, available in 7 languages.

nextmarkets available languages
English German Spanish
French Italian Dutch
Portuguese

Look and feel

The nextmarkets web trading platform is user-friendly and easy to use. For example, important functions such as search, trading tools or your fee reports are easy to locate.

The biggest drawback is that the platform is not customizable. We also occasionally encountered some minor bugs during our test, such as our account balance being displayed in the wrong currency.

nextmarkets review - Web trading platform

Login and security

nextmarkets provides a safer, two-step login. Each time you wish to access your account, a 6-digit code is sent to your phone number for verification.

Search functions

The nextmarkets web platform search function works well. You can search by typing the name of an asset or the ticker of a stock. In addition, you can browse pre-defined categories such as indices or bonds.

nextmarkets review - Web trading platform - Search

Placing orders

nextmarkets offers the most basic order types, but more advanced ones like One-Cancels-the-Other (OCO) are missing.

You can use the following order types:

  • Market
  • Limit
  • Stop

To get a better understanding of these terms, read our overview of order types.

The web trading platform also offers two order time limits: Good 'til canceled and Good 'til day.

nextmarkets review - Web trading platform - Order panel

Alerts and notifications

You cannot set price alerts and notifications on the web trading platform.

Portfolio and fee reports

nextmarkets has a clear portfolio and fee report. You can access it if you scroll down a bit on the web trading platform. There is no separate menu for the report; you can always find it when you are at the trading segment of the site.

Visit broker
52.55% of retail CFD accounts lose money

nextmarkets review
Mobile trading platform

4.8
The nextmarkets mobile trading app is well-designed, has a good search function, offers price alerts, and provides two-step login (though no biometric authentication).
Pros Cons
User-friendly No Touch/Face ID login
Two-step (safer) login
Good search function

The application is available for both Android and iOS. We tested the Android version.

The mobile platform comes in the same 7 languages as the web trading platform.

Look and feel

Like its web-based counterpart, the nextmarkets mobile trading platform is user-friendly and easy to use. You can navigate the app smoothly even when using it for the first time.

nextmarkets review - Mobile trading platform

Login and security

nextmarkets provides a safe, two-step login for its mobile platform. However, biometric authentication is not supported.

Search functions

Similarly to the web trading platform, the mobile app's search function works well. You can search by the name of the asset or by stock ticker. Alternatively, you can browse pre-defined categories like stocks or indices. You can also view your recent searches.

nextmarkets review - Mobile trading platform - Search

Placing orders

You can use the same order types as on the web trading platform.

nextmarkets review - Mobile trading platform - Order panel

Alerts and notifications

Unlike on the web trading platform, price alerts and notifications are available in the form of push notifications. However, you can't set up email or SMS alerts.

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52.55% of retail CFD accounts lose money

nextmarkets review
Desktop trading platform

nextmarkets does not provide a desktop trading platform.

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52.55% of retail CFD accounts lose money

nextmarkets review
Markets and products

2.1
nextmarkets gives access to real stocks, real ETFs and a variety of CFDs (stock, ETF, crypto, index, forex, bond). Some popular asset classes like options or futures are missing, though.

Stocks and ETFs

All real stocks and ETFs on nextmarkets are available from gettex, a German trading venue founded by the Munich Stock Exchange. On gettex, you can also find stocks and ETFs listed on non-German exchanges like the NYSE or Nasdaq.

nextmarkets stock and ETF selection
  nextmarkets eToro Trading 212
Stock markets (#) 1 17 15
ETFs (#) 1,000 145 1,800

CFDs

In comparison with some close competitors, nextmarkets' product selection is great when it comes to stock and ETF CFDs. However, nextmarkets offers relatively few currency pairs, stock index CFDs or commodity CFDs.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 52.55% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

nextmarkets product selection
  nextmarkets eToro Trading 212
Currency pairs (#) 22 49 179
Stock index CFDs (#) 8 16 35
Stock CFDs (#) 7,000 2,000 1,530
ETF CFDs (#) 1,000 264 28
Commodity CFDs (#) 6 24 28
Bond CFDs (#) 1 - -
Futures CFDs (#) - - -
Cryptos (#) 4 76 -

You can change leverage levels at nextmarkets manually, which is a very useful feature when you want to lower the risk of your trade. Be careful with forex and CFD trading, as preset leverage levels may be too high.

nextmarkets review
Research

3.0
nextmarkets offers good charting tools and trading ideas. However, fundamental data or a news feed are not available.
Pros Cons
Good interactive chart No fundamental data available
Trading ideas No/poor quality news flow
User-friendly

Trading ideas

At nextmarkets, trading ideas are provided by several 'coaches', who support their positions with arguments. You can also see the exact position they took, should you wish to copy their strategy.

nextmarkets review - Research - Recommendations

Fundamental data

nextmarkets does not offer fundamental data.

Charting

nextmarkets has good charting tools and indicators. You can use 26 technical indicators, which is not an exceptional selection but can be used conveniently for basic analysis.

nextmarkets review - Research - Charting

News feed

nextmarkets offers no news feed.

Compare research pros and cons

nextmarkets review
Customer service

4.5
Customer support at nextmarkets provides quick and useful answers via email or phone. However, support is available only during working hours, and we also missed live chat.
Pros Cons
Phone support No live chat
Fast response time No 24/7 support

You can contact nextmarkets via:

  • phone
  • email

We received relevant information when contacting nextmarkets either via email or phone.

When reaching out via email, we usually received a reply in less than 20 minutes. Phone support was also prompt; we were connected to an agent within a minute.

We missed live chat and 24/7 availability, though.

nextmarkets review - Customer service

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52.55% of retail CFD accounts lose money

nextmarkets review
Education

2.0
nextmarkets offers a demo account and some educational articles. However, we missed video content such as educational videos or platform tutorials.
Pros Cons
Demo account No trading platform tutorial videos
Educational articles No educational videos

At nextmarkets, educational content is relatively limited. You can learn in the following ways:

  • Demo account
  • Quality educational articles

You gain access to a demo account automatically when you finish the account opening process; allowing you to try out the platform's features without committing actual money.

In addition, nextmarkets provides some educational texts on its website, e.g. a glossary of terms or an introduction to day-trading strategies.

There are no educational videos, although customer service informed us that nextmarkets is planning to offer such videos in the near future.

nextmarkets offers some webinars, but these are available only in German, and only accessible via the nextmarkets Facebook page.

nextmarkets review - Education

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52.55% of retail CFD accounts lose money

nextmarkets review
Safety

nextmarkets is regulated by the MFSA and provides up to €20,000 investor protection. However, it is not listed on a stock exchange and doesn't have a banking background.
Pros Cons
Negative balance protection Does not hold a banking license
Not listed on stock exchange
Financial information is not publicly available

Is nextmarkets regulated?

Yes, nextmarkets is regulated by the Malta Financial Services Authority (MFSA).

Is nextmarkets safe?

To be certain if a brokerage is safe, we highly advise that you check two facts:

  • how you are protected if something goes wrong
  • what the background of the broker is

How you are protected

All customers are served by nextmarkets Trading Limited, which is regulated by the Malta Financial Services Authority (MFSA). Customer assets and cash are protected up to €20,000 per account.

nextmarkets provides negative balance protection. If the balance on your account goes into negative, you will be protected.

Background

nextmarkets was established in 2014 and is headquartered in Germany. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.

Find your safe broker

nextmarkets review
Bottom line

nextmarkets is an EU-based broker providing real stocks, real ETFs and CFDs. It is regulated by the Malta Financial Services Authority (MFSA).

nextmarkets offers commission-free real stocks and ETFs, and its non-trading fees are low. The account opening is fast, easy and fully online. We also liked the speed and quality of customer support.

On the negative side, nextmarkets offers only EUR and GBP-denominated accounts. In addition, it only has some limited reserach and educational tools, missing useful features such as fundamental data, market news or educational videos.

As nextmarkets offers a demo account and requires no minimum deposit for its live account, we encourage you give it a try.

Visit broker
52.55% of retail CFD accounts lose money

nextmarkets review
FAQ

Lower fees, lower costs?

We detailed this in our nextmarkets fees article.

What about the minimum deposit?

Our ultimate guide to the nextmarkets minimum deposit is updated regularly.

How to start your nextmarkets account?

Look no further than our evaluation of the nextmarkets account opening.

How's their trading app?

Here's our expert view after checking the nextmarkets trading app.

Is the quality of customer service satisfactory?

All you need to know about the nextmarkets customer service.

Legit or scam?

Is nextmarkets legit features all the key aspects you need to look at to see if a broker is safe and legit.

Free or premium? Or both?

A glance at actual costs and whether nextmarkets is really free.

Is this broker good for beginners?

We checked it in Is nextmarkets good for beginners.

Should you buy your silver bullets on nextmarkets?

Research for silver bugs in the Silver buy on nextmarkets guide

I want to trade options, are they available at nextmarkets?

We explored the topic in Can you trade options on nextmarkets?

What is the minimum account balance at nextmarkets?

Check out the current account balance requirements at nextmarkets in our What is the minimum account balance at nextmarkets article.

Looking for commission and fees data for nextmarkets?

We collected them in nextmarkets commission and fees.

How do you withdraw money from nextmarkets?

We tested it and collected the options and costs in How to withdraw money on nextmarkets.

Author of this review

Ádám Nasli

Author of this review

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo-trading, programming and trading.

Ádám Nasli

Analyst head

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo-trading, programming and trading.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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52.55% of retail CFD accounts lose money

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