Losses can exceed deposits

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Tradenext Review

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Tradenext is a forex trading services broker. They give traders access to a wide variety of instruments in several markets like currencies and indices.

Pros

  • Segregates client funds
  • Established in 2010
  • Regulated by
  • Min. deposit from $100

Cons

To open a live account, you’ll need a minimum deposit of at least $100. Alternatively, Tradenext offers a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by . Tradenext puts all client funds in a segregated bank account and uses tier-1 banks for this. Tradenext has been established since 2010, and have a head office in UK.

Before we dive into some of the more detailed aspects of Tradenext ’s spreads, fees, platforms and trading features, you may want to open Tradenext ’s website in a new tab by clicking the button below in order to see the latest information directly from Tradenext.

Visit Tradenext

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

Tradenext screenshot Open a demo account

Losses can exceed deposits

What are Tradenext's spreads & fees?

Like most brokers, Tradenext takes a fee from the spread, which is the difference between the buy and sell price of an instrument.

The spreads displayed below are based on the minimum spreads listed on Tradenext’s website. The colour bars show how competitive Tradenext' spreads are in comparison to other popular brokers featured on BrokerNotes.

Tradenext
EUR/USD (Average: 0.7 pips) Not offered 0.7 pips 0.1 pips
GBP/USD (Average: 1.1 pips) Not offered 1.7 pips 0.1 pips
USD/JPY (Average: 1.1 pips) Not offered 0.6 pips 0.1 pips
AUD/USD (Average: 0.8 pips) Not offered 0.6 pips 0.2 pips
USD/CHF (Average: 2.3 pips) Not offered 2.3 pips 0.2 pips
USD/CAD (Average: 2.9 pips) Not offered 0.5 pips 0.3 pips
NZD/USD (Average: 3.6 pips) Not offered 2.8 pips 0.3 pips
EUR/GBP (Average: 2.4 pips) Not offered 0.5 pips 0.1 pips

Spreads are dynamic and are for informational purposes only.

As you can see, Tradenext’s minimum spread for trading EUR/USD is pips - which is relatively low compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with Tradenext vs. similar brokers.

See all Spreads

How much does Tradenext charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with Tradenext at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $0. Here’s a rough breakdown of the fees and how this compares against XTB & AvaTrade .

Tradenext XTB AvaTrade
Spread from: $ 0.00 $ 2.00 $ 7.00
Commission: $0.00 $0.00 $0.00
Total cost of a 100k trade: $ 0.00 $ 2.00 $ 7.00
$2 more $7 more
Visit Tradenext Visit XTB Visit AvaTrade

All fees/prices are for informational purposes and are subject to change.

General Fees

  • Tradenext doesn’t charge inactivity fees*
  • Tradenext withdrawal fees varies on payment method

Commissions

  • Tradenext does charge commission on CFD shares

What can you trade with Tradenext?

Tradenext offers over different instruments to trade, including over currency pairs. We’ve summarised all of the different types of instruments offered by Tradenext below, along with the instruments offered by XTB and AvaTrade for comparison.

FX / Currencies Tradenext XTB AvaTrade
# of forex pairs offered 48 59
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes
Exotic forex pairs Yes Yes
Cryptocurrencies No Yes Yes
Commodity CFDs Tradenext XTB AvaTrade
# of commodities offered 21 16
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural No Yes Yes
Index & Stock CFDs Tradenext XTB AvaTrade
# of Stocks offered 1606 99
UK Shares No Yes Yes
US Shares No Yes Yes
German Shares Yes Yes Yes
Japanese Shares Yes Yes Yes
See Tradenext's InstrumentsSee XTB's InstrumentsSee AvaTrade's Instruments

What’s the Tradenext trading experience like?

1) Platforms and apps

Tradenext offers the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers. Tradenext also offer their custom FlexStation platform.

Tradenext Screenshot

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

See Tradenext 's platforms

Trading Features:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

Accounts offered:

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Islamic account

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

Tradenext allows you to execute a minimum trade of 0.01 Lot. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As Tradenext offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.

As a market maker, Tradenext may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

Finally, we’ve listed some of the popular funding methods that Tradenext offers its traders on the right.

Funding methods:

  • Credit cards
  • Bank Transfer

3) Client support

Tradenext support a limited number including English.

Tradenext has a BrokerNotes double AA support rating because Tradenext offer live chat, phone, email support and less than three languages.

4) What you’ll need to open an account with Tradenext

As Tradenext is regulated by , 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:

  • 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 10 minutes or so to complete the account opening process.

While you might be able to explore Tradenext’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 Tradenext you can visit their website 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.tradenextglobal.com/ on 01/10/2019.