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TradeNext TradeNext Review

TradeNext review and comparison | tradenextglobal.com forex & CFD broker

RATING: 3 / 7 REVIEWS TradeNext
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Trading Accounts

 

Account type Minimum deposit  Min/Max trade size Maximum leverage Spreads
Micro $100 0.01 / 2 1:300 From 1.2 pips
Standard $500 0.1 /  20 1:200 from 1.0 pips
Premium $5 000 1 / N/A 1:100 From 0.7 pips

 

Clients of TradeNext can sign up for one of 3 basic account types, all of which offer floating spreads, and commission-free forex trading on both MetatTrader 4 and FlexStation. Micro tradeable lots are available on Micro accounts. This broker, however, offers no Swap-free accounts designed for clients of Islamic belief.

 

The Company. Security of Funds

 

Company Country Regulation
TradeNext Limited UK FCA

 

TradeNext is a London-based brokerage firm, providing online financial trading in wide range of currency pairs, various CFDs, as well as spread betting. Founded back in in 2010, the broker now has a global reach, focusing largely on the UK, EU and Asian markets.

 

TradeNext Limited regulated by the Financial Conduct Authority (FCA) since January 2012. The broker also has an institutional arm- TradeNext Prime.

 

FCA is famous for the strict rules and supervision it applies to license holders. For example, UK-based brokers are obliged to hold at least €730 000 and are subject to the client money rules set by UK’s financial watchdog and must keep all client money separated from the company`s own funds into segregated accounts. Besides, licensed companies are obliged to report to the commission on a regular basis and adhere to a number of other standards and procedures.

 

What is probably most important with regard to safety of funds invested in FCA-regulated firms is the Financial Services Compensation Scheme (FSCS) coverage. In the event of company insolvency, FSCS is able to cover your investment loss up to a maximum of £50,000.

 

Despite its strong regulation, TradeNext’s overall reputation is not so good. There are plenty of negative user reviews for this broker and the Forex Peace Army recommends a high level of caution dealing with it (as It appears that someone at this company left three fake 5 Star reviews).

 

Trading Conditions

 

Minimum Initial Deposit

The minimum deposit for opening or maintaining a trading account with TradeNext is $100, which is average for the forex market. Nonetheless, other FCA-regulated brokers require less or none at all -  for example, with leading UK broker IG, one can open an account by investing just $1.

 

Average spreads & Commissions

TradeNext offers commission-free trading and floating spreads, which vary by account category. Spreads on Micro and Standard account types are average, typical ones falling within the range of 1.0 – 1.5 pips for the EUR/USD. Premium account holders, on the other hand, may benefit from spreads averaged below 1 pip, which is a good offer.

 

In comparison, IG offers average spreads of 0.8 pips on EUR/USD on its commission-free accounts. For further information, you may look up and compare real-time spreads of 15 leading brokers may be viewed here

 

Leverage

The maximum leverage rates at TradeNext are up to 1:300, which is average for the industry. Many brokers offer leverage equal to or higher than 1:500, however that is probably about to change in UK, as FCA has proposed leverage to be capped to 1:50 (Like it is in the US).

 

Leverage is a double-edged sword – it may multiply your earnings on a small deposit, but it can also lead to heavy losses, exceeding initial investments. 

 

Trading Platforms

 

When trading with TradeNext, you will be offered their in-house web FlexStation and the renown Metatrader 4 (MT4). In 2013 this was the first broker to launch the Tradeable platform, but it appears that it is no longer supported.

 

FlexStation offers a customisable work space with maximum speed and efficiency due to the Cloud server connection. The platform allows trading from the charts and perform all trading activities including orders using advanced charting functionality. Besides, it offers a Fully open API.

 

In fact, this platform is built in the X Open Hub environment and provides a complete trading solution with a web-based trading platform, integrated social trading, an apps marketplace and back office technology.

 

Like most forex brokers, TradeNext supports the most popular front-end application in the industry - MT4. It is preferred by most experienced traders, as it provides all the necessary tools and resources to analyze price dynamics of financial instruments, make the trade transactions, or create and use automated trading strategies (EAs). Here is a list of more forex brokers offering MT4 platform.

 

Methods of Payment

 

Clients of TradeNext can make deposits to and withdrawals from their accounts solely via credit/debit cards and bank wire transfer. Popular e-wallets such as Skrill & Neteller are not available with this broker.

 

Conclusion

 

TradeNext is a well-regulated broker, offering trading in various currency pairs and CFDs on two trading platforms. Here are, in a nutshell, the advantages and disadvantages with regards to this broker:

 

Pros                                                                                      Cons
FCA-regulated Limited payment options
Commission-free trading    Insufficient information on website
Competitive spread  
Choice of trading platforms, MT4 available   

                                              

Latest news about TradeNext All news
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Belize CySec, FCA, IFSC MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, South Africa CySec, FSCA, FSC MT4, MT5, Web $5 Review Website
Cyprus CySEC MT4, Web $25 Review Website

Traders` reviews for TradeNext

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

Pros

Cons

 

 

cheater

Tradenext is cheater broker...company is not giving money back of deposit...leverage they cut when trades running...first they give bonus then automatically cut without reason....be aware cheater big cheater...Tradenext capital

Neha 07/21/2015

best fx broker

Best trading platform,best service provider.....

nitin 05/24/2015

good company

tradenext is best company for trade , good team and best service

navdeep bansal 09/28/2013

To trade or not to Trade

Tradenext is one of the world’s most successful brokerages that combines service, price and technology as its critical success factors. With clients in mind right from inception to execution the firm offers a unique trading experience. The firs is pleased to have launched the much awaited tradable, the world’s first open source trading platform, in addition the firm is nominated as the BEST NEW COMPANY in the English Asian Business Awards. To all those people who have concerns please use the necessary channels to voice your concerns, when a broker succeeds all the jealous folk wake up. Tradenext is regulated under the FSA.

Adil Siddiqui 02/22/2013

after sigmaforex, inarabia tradenext is going to do big scam

Mr Nijay Mehta ,shiv kumar ,saurabh are fraud. now they are going to do big scam in India and then they run away frm India, they start eating account of client. i give lots of proof but they are nt hear and now they dont pick up the phone

Rajesh 02/13/2013

Fraud

Hello Traderss..

Please be aware from the fraud broker, because now they have started cheating, they are stealing money of client and they have washed the account of the clients. I don't know how they got FSA Regulation in Forex Market.

praful 02/05/2013

totally fraud company in forex market

tradenext is eating account by changing leverage and wash account they close position from mt manager. my 13057$ account is wash by this cheater company and now they dont have to answer that how my position is close and don't have to time to talk. Mr Saurabh talked with when i called more than 4time and then he has no answer for my account that how position are close in account.
So be careful before investing in this company. They are India owner and in India they like v3fx, sigmaforex, mirror, inarabiafx etc. Now they make good money so they are planning to run away from India. be careful big scammer coming soon in market

praful 02/05/2013
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