NextTrade Review

NextTrade Company Information

NextTrade is a new broker designed to transform the financial market experience using the latest technology. Works with TradeLocker and Meta Trader 5. Brand is launched in November 2023. It is owned by Riza Financial (Pty) Ltd.

Our Rating of NextTrade Forex

• Trading Instruments: +1000
• Max Leverage: Up to 1:500 Leverage
• Spread: N/A
• KYC: PoI & PoR

Our Overall Rating:

90/100

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Overview of NextTrade

The Company’s name is Riza Financial (Pty) Ltd. and it has been registered in South Africa with the number 2021/010163/07. 

License and Regulatory Compliance

The Company’s Registered Address is 8 Bond Street, Mount Moreland, Kwazulu Natal 339. The Company operates under the trade name “Next Trade” and it has the license to operate as a Financial Intermediary with FSP Number 52855

Trading Platforms

NextTrade uses two modern platforms: TradeLocker and Meta Trader 5.

Spreads and Commissions

Dive into the details of spreads and commissions offered by NextTrade to assess the cost of your trading.

Leverage 1:500

The broker offers leverage up to 1:500, which means that traders can make huge profits even with a minimum deposit.

Because there are so many options available for traders, anyone can easily find something that fits their personal needs. 

Keep in mind that there are a lot of risks associated with using high leverage. As much as leverage can be helpful for making more profits, this can also impact traders in a negative way.

Payment Options

Deposit

Alt Coins (BTC, LTC, ETH, USDT, DOGE, XRP). The Company is also looking to accept fiat currency via wire transfer and credit cards.

Withdrawals

Bitcoin, USDT. 

Market Analysis and Trade Signals

NextTrade Broker offers seamless market analysis and trade signals so that the traders can make informed decisions. NextTrade offers trading signals options across a variety of asset classes. Those include stock trading signals, crypto trading signals and more. 

Account Types and Their Features

Compare the different account types offered by NextTrade and their features to choose the one that suits your trading needs.

• TradeLocker Next Account
• TradeLocker Islamic Account: An Islamic Trading Account is an account that grants traders the ability to trade with a swap fee-free account.
• TradeLocker Demo Account: Want to test your trading skills and learn more about NextTrade features by doing instead of reading? Create a demo account and trade with virtual funds first before you make a decision.

Customer Support and Assistance

Customer Support is Available 24/7. They have an operator ready to assist with any questions you may have. 

Trading Instruments

NextTrade offers a wide range of trading assets including forex, stocks, currencies, commodities, and indices. 

• Some of the specific stocks available for trading include: IBM, Microsoft, Apple, Coca Cola, and more. 
• Various currency pairs such as: EUR/GBP and USD/JPY
• Commodities like: gold, oil, and silver. 
• Traders can access different market indices such as: NASDAQ, FTSE 100, and DAX. 

NextTrade KYC Process

Proof of Identity (POI):

• Valid Passport, 
• ID or driver’s license

Proof of Residence ( POR)

• Utility Bill (e.g., electricity, water, gas)
• Bank Statement
• Rental Agreement
• Government Issued Residence Certificate

Bonus and Promotions

100% deposit bonus available. 

Verdict on NextTrade

If you are new to trading this option might be good. Complex platforms may be very stressful for  beginners so it’s good to start with an easier broker.