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Unverified
Score
1.27 /10
Danger
NextTrade
1-2 yearsSuspicious Regulatory License
Suspicious Scope of Business
Suspicious Overrun
High potential risk
Influence
C
Add brokers
Comparison
Expose
Exposure
Time Machine
Website
Score
Regulatory Index0.00
Business Index5.16
Risk Management Index0.00
Software Index4.00
License Index0.00
Time Machine
Website
Licenses
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
Single Core
1G
40G
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Warning: Low score, please stay away!
3
Previous Detection :
2025-12-03
- It has been verified that this broker currently has no valid forex regulation. Please be aware of the risk!
- The broker's claimed South AfricaFSCA regulation (Regulation Number: 52855) has not been verified. Please be alert to the risks!
WikiFX Verification
| 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
| Pros | 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 |
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