FX Next Review 2020

FX Next Rated 3/5
learn more Learn more about eToro. 75% of retail investor accounts lose money when trading CFDs with this provider.
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FX Next Guide - Read our In Depth FX Next Review

This FX Next review was written by industry experts with over 20 years of financial experience in Forex trading, Spread Betting, Social trading, Share Dealing.

FX Next are an online broker founded in 2008 offering Forex trading trading, Spread Betting trading, Social trading trading, and Share Dealing trading.

FX Next are a global broker and have a head office in Vanuatu.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of FX Next we breakdown the pros and cons. What FX Next are able to offer, what countries FX Next are available in. Who FX Next are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

Open FX Next's Website

Your capital is at risk

At the bottom of this review you can also learn about some pretty good alternatives to FX Next

With this FX Next review we hope to help you see if FX Next is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding FX Next that will help you get off to a good start in the world of online trading.

FX Next Review Table of Contents

FX Next review
What you should know

FX Next offer four ways to trade: Forex trading, Spread Betting, Social trading, Share Dealing.

With FX Next you will need a minimum deposit of $100. You can sign up for a demo account to acquaint yourself with FX Next platform.

FX Next are able to accommodate various levels of traders whether you are experienced or a beginner.


FX Next review
Are FX Next safe?

When choosing a broker like FX Next the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2008, and in operation for 12 years FX Next have a head office in Vanuatu.

FX Next is not regulated. This means FX Next are not supervised by any regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to FX Next, this will be honored.

Any payments funded to FX Next accounts by traders are held in a segregated bank account.

For added security FX Next use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Try creating two accounts when you are working with FX Next. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit FX Next

Your capital is at risk

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

How FX Next as a Company Compare Against Other Brokers

Broker fxnext eToro IC Markets Trading212
Year Established 2008 2006 2007 2006
Head Office Vanuatu Cyprus, UK Australia UK
Regulation Unregulated Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), Financial Supervision Commission (FSC)
Used By 10,000+ 12,000,000+ 60,000+ 14,000,000+
Negative balance protection Yes Yes Yes
Guaranteed Stop Loss No No Yes
Learn More Visit FX Next Visit eToro Visit IC Markets Visit Trading 212
Risk Warning Your capital is at risk 75% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FX Next review
FX Next Pros and Cons

What we like about FX Next

  • Used by over 10,000 traders
  • Established in 2008
  • Min. deposit from $100

What we don't like about FX Next

FX Next review
FX Next Regulation and Licensing in more detail

FX Next are not supervised or regulated by any well known regulatory bodies. Its normal to find online brokers like FX Next that are not regulated yet appear to be legitimate.

FX Next maybe relatively new. Some brokers provide their service under offshore licenses to save operational costs. Regulatory licensing can be very costly. We recommend only trading with regulated brokers. Should anything go wrong with FX Next you are not guarenteed help in a difficult situation.

  • Unregulated

FX Next review
FX Next Fees Explained

  • FX Next withdrawal fees varies on payment method
  • FX Next does charge a fee for inactive accounts.
  • FX Next does charge deposit fees.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company, brokers may charge clients various fees.

How FX Next Fees Compare Against Other Brokers

Broker fxnext eToro IC Markets Trading212
Min Deposit 100 200 200 1
Withdrawal Fees varies Yes No No
Inactivity Fees Yes No No
Deposit Fees No Varies No
CFD Commission Fees No Yes No

FX Next review
FX Next Minimum Deposit

FX Next require a minimum desposit of 100 GBP/USD when opening an FX Next trading account.

A minimum deposit is the minimum amount of money required by FX Next to open a new online brokerage account with them.

Dont be scared off by brokers like FX Next charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on there platforms that are not available for free on other platforms.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

FX Next review
FX Next Withdrawal Fees

FX Next withdrawal fees vary depending on your selected withdrawal payment method.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees and processing times.

FX Next for example allow you to withdraw your funds to a Skrill account, a Neteller account,

FX Next review
FX Next Inactivity Fees

FX Next does charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill.

If a clients trading account dues not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

FX Next review
FX Next Desposit Fees

FX Next does charge deposit fees.

Some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

FX Next review
FX Next Commission Fees

FX Next does charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

FX Next review
What can you trade with FX Next?

Be aware that Different entities under FX Next Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client.

You can trade a wide variety of instruments with FX Next over 118 instruments infact.

If you are looking at trading currency pairs FX Next offer over currency pairs.

Compare FX Next with eToro and IC Markets below.

Your capital is at risk

How FX Next Trading Options Compare Against Other Brokers

Broker fxnext eToro IC Markets Trading212
Instruments Available 118 100 232 3000
Platforms MT4,WEB,iPhone,Mac Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac Web Trader, Tablet & Mobile apps
FX / Currencies        
Forex pairs offered 50 65 177
Major Forex pairs Yes Yes Yes Yes
Minor Forex pairs No Yes Yes Yes
Exotic Forex pairs No Yes Yes Yes
Cryptocurrencies No Yes Yes Yes
Commodity CFDs        
Commodities Offered 0 0 19 14
Metals No Yes Yes Yes
Energies No Yes Yes Yes
Agricultural No Yes Yes Yes
Indiced & Stock CFDs        
Stocks Offered 957 100 1731
UK Shares No Yes No Yes
US Shares Yes Yes Yes Yes
German Shares No Yes Yes Yes
Japanese Shares No Yes Yes Yes
Risk Warning Visit FX Next
Your capital is at risk
Visit eToro
75% of retail investor accounts lose money when trading CFDs with this provider.
Visit IC Markets
Losses can exceed deposits
Visit Trading 212
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FX Next review
Trading on FX Next web platforms and other applications

FX Next offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

An FX Next IOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device

FX Next also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.

See FX Next's platforms

FX Next Trading benefits :

  • Allows hedging
  • Offers STP
  • Low min deposit

FX Next Trading Accounts Offered :

  • Demo account
  • Micro account
  • ECN account
  • STP account

Can I try FX Next before I buy?

FX Next offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Your capital is at risk

FX Next withdrawal and funding methods.

Please note that the list of payment methods below depend on the FX Next Entity and the Clients Country of Residence.

FX Next offer the below funding payment methods. learn more about FX Next

  • Credit cards
  • Skrill
  • Neteller
  • American Express
Broker fxnext eToro IC Markets Trading212
Bank transfer No Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes Yes Yes
Skrill Yes Yes Yes Yes
Payoneer No No No No
Neteller Yes Yes Yes No

How can I start trading with FX Next?

When opening a trading account with FX Next, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on FX Next trading platforms here.

Your capital is at risk

Performing trades with FX Next

FX Next allow you to execute a minimum of trade of varies. This may vary depending on the account you open. FX Next allow you to execute a maxium trade of varies. As FX Next offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you‘re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the instruments.

FX Next Leverage and FX Next CFDs Explained

let's take a look at some of the basics of using FX Next leverage.

FX Next offer CFD are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

FX Next leverage magnifies both profits and losses when trading.

Let's say for example you buy ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the FX Next trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The FX Next leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

FX Next CFDs are typically used for short to medium term trades. For example FX Next intraday trading.

Education resources at FX Next

To trade effectively with FX Next, it's important to get a have a good understanding of the FX Next trading tools and the markets.

FX Next offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with FX Next.

Take time to look around the FX Next platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at FX Next

FX Next support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian

FX Next have a D grade support rating because because sometimes the response was slow or our query wasnt answered. FX Next less customer support features compared to other brokers like live chat, phone and email support. email support and supports a limited amount of Languages. Live chat support supports a limited amount of Languages. Phone support supports a limited amount of Languages.

Livechat Support at FX Next

We tested the FX Next live chat and it works well. We sent messages to FX Next livechat through their app and website and recieved a response within 20 minutes. Sometimes there was no response.

We tested communicating with FX Next support in multiple languages in multiple countries. FX Next where able to resolve our customer issues.

Email Support at FX Next

We sent several emails to FX Next and answer times overall were excellent. The fastest response from FX Next was 4 hours and the slowest response was 5 days. Sometimes there was no response. Support response times may vary for you with FX Next, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall average email support from FX Next.

Phone Support at FX Next

We called FX Next and the call was answered very quickly. The call was answered in less than 5-10 minutes.

The FX Next phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual FX Next team by calling in varying languages. FX Next made an effort to make sure our queries were answered.

Overall the phone support from FX Next was okay.

See how FX Next Support Compares Against Other Brokers

Broker fxnext eToro IC Markets Trading212
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian English, German, Spanish, French, and Italian English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more English, Deutsch, Nederlands, Espanol, Francais, Italiano, Polski, Srpski, Norsk, Svenska, Cesky, РУССКИЙ, Romana, Turkce, العربية, 中文
Learn More Visit FX Next Visit eToro Visit IC Markets Visit Trading 212
Risk Warning Your capital is at risk 75% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

What you will need to open an account with FX Next

As FX Next is regulated by Unregulated, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware Please kindly note that the expiration date of Proof of address document for different entities under FX Next Brand may be different.

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore FX Next's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with FX Next you can visit the FX Next trading platform here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.fxnextgen.com/ on 12th August 2018.

FX Next review
Is FX Next A Good Broker?

We spent over 3 months examining FX Next in depth. Although we found some very useful aspects of the FX Next platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative FX Next broker.

  • FX Next have a good track record of offering Forex trading, Spread Betting, Social trading, Share Dealing.
  • FX Next has a history of over 12 years.
  • FX Next has a reasonable sized customer support of at least 10.
  • FX Next are regulated by Unregulated. This means FX Next fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • FX Next have regulation from a Tier 1 reputable country.
  • FX Next has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • FX Next have an international presence in multiple countries. This includes local FX Next seminars and training.
  • FX Next are able to hire people from various locations in the world who can better communicate in your local language.

FX Next Risk Disclaimer

Your capital is at risk

FX Next review
FX Next not quite right?

If after reading this FX Next review, FX Next does not fulfill your needs check out these FX Next Alternatives.

Click here to view the best FX Next Alternatives

We have spent years researching the best alternatives to FX Next. Click the links below to learn more.

If you feel some of the above FX Next are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of FX Next alternatives below.

FX Next review
Related FX Next Vs Comparisons

We have covered allot in this FX Next review, If you want to see how FX Next compares side by side with other brokers check out our FX Next Vs pages.

If you would like to see how FX Next stands up against other brokers you can read some of our FX Next comparisons below. We compare side by side some of our top rated FX Next versus comparisons. Read our indepth FX Next VS pages below.

FX Next review
FX NEXT Frequently Asked Questions

Can I try FX Next before I buy?

FX Next offer a demo account so you can try the FX Next platform before you put down a payment. Learn more here

What funding methods do FX Next accept?

Please note that the list of payment methods below depend on the FX Next Entity and the Clients Country of Residence.

FX Next offer the following funding payment methods accept Credit cards, Skrill, Neteller, American Express, among other payment methods.
Learn more here

Your capital is at risk

Is FX Next safe?

While FX Next may not be considered unsafe, they are not regulated or supervised by any major regulatory body. Depending on your trading style this may be okay. We recommend you trade with a regulated broker.Any payments funded to FX Next accounts by traders are held in a segregated bank account. For added security FX Next use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Is FX Next trading good?

FX Next is considered good and reputable to trade with. FX NextFX Next is used by over FX Next active traders. FX Next offers Forex trading trading, Spread Betting trading, Social trading trading, and Share Dealing trading. Minimum deposit with FX Next is 100.

Is FX Next trading Legit?

FX Next was founded in Vanuatu in 2008. FX Next has been facilitating trade on the financial markets for over 12 years. FX Next offers clients Forex trading trading, Spread Betting trading, Social trading trading, and Share Dealing trading. All funds deposited to FX Next are held in segregated tier 1 bank accounts for security. FX Next is not regulated. Although this doesnt mean FX Next are awful, we recommend trading with regulated brokers.

Is FX Next a good broker?

FX Next is overseen by the top tier financial regulators Unregulated so can be considered a good broker. FX Next allows Forex trading trading, Spread Betting trading, Social trading trading, and Share Dealing trading.

Is FX Next trustworthy broker?

While having many plus points because FX Next is not regulated we personally would not trade with them. Make any broker you trade with is regulated and places any funded money into segregated tier 1 bank accounts. If your money is in a segregated bank account the broker has no direct access to your funds so cannot misappropriate your money.

What is the minimum deposit for FX Next?

The minimum deposit to trade with FX Next is 100.

How long do FX Next withdrawals take?

Withdrawing money from FX Next processing time varies but averages 2-5 days.

Is FX Next regulated?

FX Next is not regulated by a top tier financial regulator.

Is FX Next a market maker?

FX Next is a market maker. Stocks, currency and other commodities and instruments will be purchased by FX Next even if no buyer is lined up.

How can I start trading with FX Next?

When opening a trading account with FX Next, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on FX Next trading platforms here.

Is my money safe with FX Next?

FX Next is regulated by Unregulated. One of the most important criteria for traders when choosing a broker like FX Next is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to FX Next, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is FX Next a con?

While we would noy say that FX Next is a con. Because they are not regulated by a top tier financial regulator we would not trade with them.

Can you make money with FX Next?

Although traders have had great success with FX Next. Trading on the financial markets with FX Next is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Never trade with money you cannot afford to lose. Your capital is at risk.

Does FX Next have fees?

FX Next withdrawal fees varies on payment method. FX Next does charge a fee for inactive accounts. FX Next does charge deposit fees.

When was FX Next founded?

FX Next was founded in 2008.

How many people use FX Next?

FX Next is used by over 10000 registered traders.

What is FX Next Headquarters country?

FX Next has its head quarters office in Vanuatu.

Does FX Next offer negative balance protection?

FX Next does not offer negative balance protection. With Negative balance protection means traders cannot lose more money than they have deposited.

Does FX Next offer guaranteed stop loss?

FX Next does not offer guaranteed stop loss. With guaranteed stop loss protection risk is managed. Traders are guarenteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does FX Next allow scalping?

FX Next does not offer scalping.

Does FX Next allow hedging?

FX Next offers hedging.

Does FX Next offer CFD trading?

FX Next offers CFD trading.

Does FX Next offer STP?

FX Next offers STP trading.

How many people use FX Next?

FX Next is used by over 10000 traders.

Is FX Next an ECN broker?

FX Next offers ECN trading.

Does FX Next offer a demo account?

FX Next offers a demo account.

Does FX Next offer an Islamic account?

FX Next does not offer Islamic accounts.

What are the funding methods for FX Next?

FX Next accept the following funding methods : Credit cards, Skrill, Neteller, American Express,

FX Next review written by Andrew Blumer and Mark Hansen

We hope you found our review of the FX Next brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

FX Next review written by Mark Hansen of Comparebrokers.co