Nekstra-Overview of Minimum Deposit, Leverage, Spreads

Note: Since Nekstras official site (https://www.nekstra.com/) is not accessible while writing this introduction, only a cursory understanding can be obtained from the Internet.

General Information & Regulation

Nekstra is allegedly an unregulated forex broker established in 2020 and registered in Latvia that claims to provide its clients with over 1,000 tradable assets with leverage up to 1:200 and high spreads from 3 pips on the desktop and web-based trading platforms, as well as a choice of six different account types.

Market Instruments

Nekstra advertises that it offers more than 1,000 trading assets in financial markets, including forex, stocks, commodities and indices.

Account Types

There are six live trading accounts offered by Nekstra, namely Basic, Bronze, Silver, Gold, Platinum and Black. Opening a Basic account requires the minimum initial deposit amount of $250, while the other five account types have much higher minimum initial capital requirements of $2,500, $5,000, $10,000, $20,000 and $100,000 respectively. However, the broker didnt offer free demo accounts.

Leverage

A leverage ratio of up to 1:200 is offered by Nekstra, which is much higher than that provided by most brokers. Inexperienced traders are advised not to use too much leverage since leverage magnifies gains and losses.

Spreads

The EUR/USD spread offered by Nekstra is fixed at 3 pips.

Trading Platform Available

Platforms available for trading at Nekstra are the desktop and Webtrader. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Deposit & Withdrawal

Nekstra says to work with credit cards, wire transfers, e-wallets (Neteller, Skrill) and Perfect Money, but in reality, you can fund your account only with cryptocurrencies or through some unreliable e-wallets. The minimum initial deposit requirement is $250, and the minimum withdrawal is said to be $75. The withdrawal fee is said to be 3.5% of the withdrawal amount, but not less than $50 per transaction. Withdrawal requests usually take up to 3-4 business days to process.

Bonuses & Fees

Nekstra claims to offer different welcome bonuses on different account types. For example, the Basic account will be given a 20% Welcome Bonus, while the Bronze account with a 40% Welcome Bonus, the Silver account with 60%, the Gold account with 80% and the Platinum account with 100%. However, to withdraw, traders have to execute a turnover 30 times the size of the bonus and deposit.

Apart from the withdrawal fee, the broker also charges all kinds of fees, more specific as below:

Inactivity Fee: An account becomes dormant after only a month of inactivity and will be subject to a $200 handling fee.

Profit Clearance Fee: $1.50-5 per trade.

Maintenance Fee: $30 monthly.

Verification Fee: If your verification process is not completed within 30 days of your first deposit, then you will be charged a verification fee of $150. This fee will be charged monthly until the verification process is complete.

Customer Support

Nekstra‘s customer support can be reached by telephone: +48221530758 (Poland), +74992166279 (Russian Federation), +37052060078 (Lithuania), +77273499974 (Kazakhstan), email: support@nekstra.com or send messages online to get in touch. However, this broker doesn’t disclose other more direct contact information like the company address that most brokers offer.