3.8 / 5
Rating breakdown
Things we didn't like:
Absence of a direct telephone number for customer supportNewcomer in the industry
The absence of community features
Why would you want an alternative to NEXTTRADE?
NextTrade faces two notable drawbacks that could hinder its appeal to potential traders. Firstly, as a newcomer in the industry with a limited customer database, the broker encounters the challenge of establishing credibility and trust among prospective clients. Traders often seek well-established brokers with a proven track record to ensure the security of their investments. The lack of an extensive customer base may raise concerns about the broker's reliability and experience, potentially deterring potential users from choosing their services.
Secondly, the absence of community features, such as a Discord channel, deprives traders of a platform for shared insights, discussions, and support. A vibrant community fosters a sense of belonging and provides valuable information, aiding traders in making informed decisions. The broker's failure to provide such a space not only inhibits the development of a supportive network but also hinders transparency and communication, which are crucial aspects in the dynamic world of forex trading.
What to look for in a NEXTTRADE Alternative?
When seeking an NextTrade alternative try to consider brokers which can prove that they offset any of the limitations and cons of NextTrade, while at the same time matching or exceeding the strongpoints of the NextTrade offering, especially in those aspects which interest you the most.
Try to prioritize certain features to ensure a secure and supportive trading environment. Consider opting for a broker with an established reputation and a robust track record, as this helps instill confidence in the reliability of their services. A well-populated customer database attests to the broker's experience and trustworthiness. Additionally, explore brokers that offer community features like Discord channels, fostering a collaborative space for traders to share insights, strategies, and support. A vibrant community not only enhances transparency but also contributes to a sense of belonging and collective learning. By prioritizing both credibility and community engagement, traders can identify brokers that not only meet their financial needs but also provide a comprehensive and supportive trading experience.
Best NEXTTRADE alternatives – forex brokers like (or better than) NEXTTRADE
4.3 / 5
Rating breakdown
Things we liked:
Up to 500:1 leverageLow minimum deposit requirement
Things we didn't like:
Absence of a direct telephone number for customer supportOspreyfx is not a fully licensed and regulated broker
OspreyFX Overview
Named after the very large, distinctively shaped, fish preying hawk, which suitably decorates the brand’s logo, OspreyFX is a relatively new entrant in the world of forex brokerages, aiming to offer existing and aspiring traders an innovative venue in which they can satisfy all their trading needs, including the trading of cryptocurrencies.
4.2 / 5
Rating breakdown
Things we liked:
AvaTrade has low trading feesThe account opening is user-friendly and fast
It offers a lot of deposit and withdrawals options free of charge
Things we didn't like:
The product portfolio is limited as it offers only CFDs, forex, and cryptosThe research tools are limited
AvaTrade Overview
Since its establishment in 2006, AvaTrade has expanded to 11 countries and offers an array of trading platforms for web, desktop, and mobile use. It facilitates trading in spot forex, forex options, and CFDs across various asset classes, including cryptocurrencies. AvaTrade boasts 300,000 registered traders executing over 3 million trades monthly, with a total traded value exceeding $1.47 trillion.
4.0 / 5
Rating breakdown
Things we liked:
XM has low trading feesThe account opening is user-friendly and fast
Lots of educational tools
Things we didn't like:
XM has a limited product portfolioThe research tools are limited
It charges inactivity fees
XM Overview
XM is a CySEC, ASIC and IFSC regulated, multi-asset class broker offering to trade on more than 1,000+ tradable CFD’S on Forex, Stocks, Commodities, Indices, Metals and Energies on the globally-recognised trading platforms MetaTrader 4 and MetaTrader 5 for PC, Mac, Web, iOS and Android systems.