NexVest has been flagged by Financial Markets Authority for "Registered/Licensed entity impersonators|Fraud and Other Types of Misconduct". The FMA is warning about a series of fake online trading platforms. These platforms claim to offer cryptocurrency and foreign exchange trading platforms but are being used as part of a wider investment scam.
To establish credibility, the fake platforms may provide fraudulent certificates featur... This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
NexVest locked my account without warning and demanded documents I had already submitted. for over three years later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Helpful community forum|Multi-device support
Cons: Nothing significant|Would like more payment methods
I had a dispute with NexVest and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Instant funding|Competitive fees|Segregated accounts|Smooth onboarding
Cons: Website design could be more modern|Mobile app could be improved
After spending for close to eighteen months trying to make NexVest work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Copy trading available|Helpful community forum|Comprehensive tools
Cons: No phone support on weekends|Wish they had more educational resources
The spread at NexVest is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them while looking for alternatives to my previous provider and initially thought the platform was good - until I started trading seriously.
Pros: Portfolio tracking tools|Detailed reporting
Cons: Spreads widen during volatile periods|Cannot customize dashboard fully
NexVest advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Market news feed|Helpful community forum
Cons: Search feature is basic|No integrated tax optimization