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NextMarkets is an online broker, offering Forex, Cryptocurrencies, and other financial instruments. Based in Malta and regulated by the Malta Financial Services Authority (MFSA), NextMarkets Trading Limited is a subsidiary of NextMarkets GmbH, based in Cologne, Germany. This relatively new broker is taking an innovative approach to trading, aiming to offer clients a “market coach, analyst, and trading platform – all in one”. The site provides eleven experienced analysts who can coach clients and draw their attention to interesting opportunities. The ability to follow and learn from these analysts is built into the platform.Like many online brokers, NextMarket offers a no-commission model and instead takes its fees from the spreads. These spreads are very competitive, with a spread of 0.6 pips on EUR/USD currently quoted. Trading costs, therefore, work out very low, and there are also very few extra or ‘hidden’ fees. The broker offers free deposits, with no account administration fee. Clients receive free real-time market quotes, and a free demo account, with up to $10,000 of virtual money. There is also EU account deposit protection of up to £20,000 (GBP). NextMarkets offer an in-house web-based trading platform which is very clean, uncluttered and user-friendly. And they provide a range of trading and charting tools and easy access to all markets and assets. Various technical indicators are included, along with the software that makes it possible for traders to easily follow the in-house analysts and benefit from their ideas and strategies, in real-time. It is, of course, also possible to trade independently. The broker offers free mobile trading apps for both iOS and Android devices. Customer support can be contacted via a dedicated support phone line, or by filling out a contact form on the website. There is no live chat, which is unfortunate, given how popular this form of contact is. Additionally, there is no dedicated email support address, but the contact form works in the same way, as you will receive an answer from support staff. The first stop for customers looking for answers to common questions should be the extensive help section, available from the footer of the home page. The help section is broken down into categories for ease of use and is also searchable if you have a specific question.
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