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Global Next Trade Review - is it scam or safe?

Global Next Trade review - Is scam or good forex broker?

RATING: 1.1 / 1 REVIEWS ForexBrokerz Global Next Trade
Global Next Trade is an offshore broker. Your money is not safe.


Global Next Trade is an offshore broker, based on St Vincent and Grenadines, offering a selection of forex pairs with a leverage of up to 1:200 and the MetaTrader5 platform. Unfortunately the broker is not regulated and that makes trading with them quire risky.


Account type Min. deposit Max. leverage Spreads
Standard Account $100 1:200 1,8 pips


Global Next Trade Advantages:


Over 60 currency pairs


In their presentation Global Next Trade says to be offering over 400 trading assets, including currency pairs, stocks, spot indices, futures, spot metals and spot energy commodities. And yet, when we tested their trading platform with a demo account we found only forex pairs. Still, we give Global Next Trade a credit for this, as we counted over 60 pairs, many of which minor, crosses or exotic. And because  Global Next Trade does not say anything about crypto assets, here you may also check our list of brokers, trading with bitcoin CFDs:


>>Bitcoin Forex Brokers<<


Good leverage


Leverage of up to 1:200 is definitely attractive. Bear in mind however that higher leverage has always been associated with higher risk and on regulated markets like the European Union, the US, Canada and Japan it is available only with professional accounts.


Still, if you really want to trade with unrestricted leverage, here you may also check our list of brokers regulated in Australia – the last major regulatory hub, where higher leverage is available for retail traders:


>>Brokers regulated in Australia<<


You can start trading with 100 USD


A minimum deposit of 100 USD is definitely acceptable and actually is in the lower range of what most brokers require for a trading account. And yet, bear in mind that some big well established brokers like FBS and IG  do not have a minimum deposit requirement at all.


Various payment methods


Global Next Trade accepts payments with credit cards like VISA and MasterCard, bank wire and several e-wallets among which Neteller and Skrill. At least that is what they say in their presentation. But as they do not mention anything about crypto coins, here you may check our list of brokers, where you can pay with bitcoins:


MetaTrader5 supported


That is another positive point -  Global Next Trade supports the MetaTrader5, which along its predecessor, the MetaTrader4 is one of the most widely used trading platforms on the market. MT5 features an excellent pack of advanced charting tools, many market indicators and easily customizable trading bots, with the help of which one can easily run automated trading sessions. So here you may check our list of brokers, supporting the MetaTrader5 as well:


>>MT5 Brokers<<


Global Next Trade Disadvantages:


No license


Global Next Trade is owned by an offshore company – the  St Vincent and Grenadines based GNT Capital LTD. The company, however, does not have a license to offer financial services on regulated markets like the European Union, the US, Australia or Japan and that is unfortunate.


Bear in mind that trusting your funds with unregulated brokers is extremely risky for one single reason – they are completely unaccountable for the way they manage your money, and quite too often are involved in outright scam.


Authorized brokers, regulated by respectable financial institutions such as the Cyprus Securities Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) on the other hand can be trusted as they are obliged to follow strict financial and ethical rules.


On top of that with a FCA broker your funds will even be covered by an insurance of up to 85 000 GBP, so here you may also check our list of brokers regulated by the FCA:


>>FCA Regulated Forex Brokers<<


Various fees and commissions


In their Terms and Condition Global Next Trade mentions various fees and commissions, which they say they can change on their sole discretion. See for yourself: 



Market maker


Again in their Terms and Conditions Global Next Trade acknowledge that they act as a market maker. 



Bear in mind that a market maker makes money when you lose yours, so basically you should be cautious not to let a broker, that is a market maker to manage your account – that is a sure recipe for a scam.


High spreads


In its presentation Global Next Trade says they offer spreads staring form 1,8 pips and that is higher then what traders would usually expect with a standard account. Generally spreads are considered attractive only when the start below 1,5 pips. So here you may also check our list of brokers offering tighter spreads:


>> Lowest spread forex brokers<<




Global Next Trade is not a broker you can trust and the reason for that is quite simple – they are not regulated by any of the well respected financial watchdogs in the industry such as the FCA in the UK, CySEC in Cyprus or ASIC in Australia. 


So here we will repeat our general advise - if you do not want to risk your money with potential scammers, trade only with legit and properly authorized brokers.

Latest news about Global Next Trade
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