Company Profile
| NextTrade Review Summary | |
| Founded | 1999 |
| Registered Country/Region | South Africa |
| Regulation | Exceeded |
| Market Instruments | Forex, Commodities, CFDs, Indices |
| Demo Account | Not Mentioned |
| Leverage | Up to 1:500 |
| Spread | Starting from 0.4 pips |
| Trading Platform | TradeLocker |
| Min Deposit | $10 |
| Customer Support | +27 31 100 1703 |
| support@nexttrade.com | |
NextTrade 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
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Is 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 Status | Exceeded |
| Regulated by | South Africa |
| Licensed Institution | The Financial Sector Conduct Authority (FSCA) |
| Licensed Type | Financial Service Corporate |
| Licensed Number | 52855 |
What 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 Instruments | Supported |
| 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 Class | Leverage | Additional Notes |
| Stocks | 1:20 | - |
| Cryptos | 1:100 | Excluding SHBUSD100 which is 1:30. For accounts with equity over 500K, leverage is 1:50. |
| Metals | 1:200 | For accounts with equity over 500K, leverage is 1:50. |
| Indices or Energies | 1:200 | For accounts with equity over 500K, leverage is 1:50. |
| Forex | 1:500 | For 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 Platform | Supported | Available Devices | Suitable for |
| TradeLocker | ✔ | PC and Mobile | Investors of all experience levels |
Deposit and Withdrawal
NextTrade requires a minimum deposit of $10.
Deposit Options:
| Deposit Options | Min. Deposit | Fees | Processing Time |
| Bitcoin (BTC) | $10 | N/A | 1-3 Hours (to reach Blockchain Network) + 3-6 Hours (Blockchain Confirmation for applicable crypto deposits) |
| Ethereum (ETH) | $10 | N/A | |
| Litecoin (LTC) | $10 | N/A | |
| Ripple (XRP) | $10 | N/A | |
| Dogecoin (DOGE) | $10 | N/A | |
| Tether (USDT) (TRC-20) | $10 | N/A | |
| USD Coin (USDC) (BEP-20/TRC-20) | $10 | N/A | |
| Credit Card or Bank Transfer | $10 | N/A |
Withdrawal Options
| Withdrawal Options | Min. Withdrawal | Maximum | Fees | Processing Time |
| Bank Transfer | $10 | No Limit | N/A | 3-5 business days |
| Bitcoin | $100 | No Limit | N/A | Depends on network traffic |
| USDT | $50 | No Limit | N/A | Depends on network traffic |
