Nextrade Holding Company / www.nextrade.holdings has been flagged by Swiss Financial Market Supervisory Authority for "Other". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I wanted to transfer my portfolio from another broker to Nextrade Holding Company / www.nextrade.holdings. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Great customer service|Regular updates|High security standards|Easy withdrawals
Cons: Website design could be more modern
For anyone considering Nextrade Holding Company / www.nextrade.holdings, please be aware that this company has been flagged by Swiss Financial Market Supervisory Authority. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.
Cons: Appears in regulatory warnings database|Uncertain regulatory status
Do not believe the bonus offer from Nextrade Holding Company / www.nextrade.holdings. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited after my brother mentioned them and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Clear documentation|Good mobile app|Customizable dashboard|Regular platform improvements
Cons: No fractional shares|Limited social trading features
My card was charged twice by Nextrade Holding Company / www.nextrade.holdings on the same day. I had to dispute it with my bank. Nextrade Holding Company / www.nextrade.holdings then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Great customer service|Dividend tracking|Social trading features
Cons: Some tools only available on higher tiers|Website design could be more modern
Several red flags with Nextrade Holding Company / www.nextrade.holdings: (1) They promise unrealistically high returns, (2) They're not registered with Swiss Financial Market Supervisory Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Not registered with regulators|Unrealistic promises