RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Next Markets is a CFD forex brokerage, based in Malta, with a wide range of trading products. It provides its own innovative web-based trading platform, offers a spread of 0.6 pips on EUR/USD, but gives no information regarding the required minimum deposit. The brokerage offers a leverage of up to 1:30 which should not come as a surprise since all European brokers must comply with the newest regulation from August 2018 which posits a maximum leverage of 1:30.
Traders have at their disposal only one standard trading account that has a fixed 0.6 spread and a minimum trading size of 0.01 lot. Another feature worth mentioning is the truly innovative web-based trading platform of Next Markets where we find the option for traders to follow expert analysists. This form of social trading allows clients to follow the advice of different experts and not rely only on their own information and intuition for trading. They have to subscribe to a certain Trading coach who advises the trader based on chart analysis and trading indicators, as well as leaves comments in a kind of “chat monologue” so that subscribers understand the working process of the “trading coach”.
Clients of Nextmarkets are able to follow analyses with one click and subscribe to a certain Trading Coach. The subscriber most often sees the approach based on chart analysis and which indicators the coach uses. Moreover, the coach’s comments appear in a kind of “chat monologue”, so that subscribers can understand how the coach analyzes the markets why he makes certain decisions. Dominic Heyden, the founder and CTO at Nextmarkets, describes this model as “Curated Investing”.
Next Markets regulation & safety of funds
Next Markets state that they fall under the regulatory oversight of the Malta authorities. After checking with the online registry of MFSA, we can confirm this to be true. Malta is a European Union-member and regulators there are considered trustworthy. Next Markets also provides clients with balance protection which means that clients have a guarantee that their losses cannot be bigger than the initial deposit.
Regulatory agencies such as the FCA or MFSA force a broker to comply with a number of strict rules that lower the risk of fraud and give assurance for the safety of the clients funds.
Furthermore, clients have authorities to which to turn if they have grievances with the brokerage. All this cements Next Markets credibility.
Next Markets Deposit/Withdrawal Methods and Fees
Next Markets does not disclose any information about its payment methods, nor does it mention any withdrawal or procession fees in its Terms and Conditions.
