NextTrade

WikiFX | 2025-05-08 20:24

Abstract：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.

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
Customer Support	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
Supports Meta Trader 4	Exceeded regulatory status
High leverage up to 1:500	Limited account variety
Offers multiple assets to trade

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