NXG Markets (nxgmarkets.com) has been flagged by ASIC (Australia) for "Unlicensed". Phones: 61480037361
Addresses: Bonovo Road Fomboni island of Moheli Comoros Union; 806 AL Serkal Building 2 Port Saeed Dubai UAE This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.nxgmarkets.com.
I have been trying to close my account with NXG Markets (nxgmarkets.com) for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Intuitive for beginners|Tax reports included|Responsive team
Cons: Spreads widen during volatile periods
I lost a significant amount because NXG Markets (nxgmarkets.com) did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Two-factor authentication|Multi-currency support|Customizable dashboard|Competitive fees
Cons: Mobile app could be improved|Limited demo account features
I had a dispute with NXG Markets (nxgmarkets.com) 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: Personal attention|Easy withdrawals
Cons: No phone support on weekends
The hidden fees at NXG Markets (nxgmarkets.com) are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Multi-currency support|Market news feed|Good mobile app
Cons: Onboarding videos are outdated
I gave NXG Markets (nxgmarkets.com) a fair chance. After since last summer of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.
Pros: Responsive team|Economic calendar|Good mobile app|Professional team
Cons: Currency conversion fee exists
My withdrawal from NXG Markets (nxgmarkets.com) was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. since the beginning of the year of being strung along.
Pros: Intuitive for beginners|Good mobile app
Cons: Limited ETF selection
I had high hopes for NXG Markets (nxgmarkets.com) through a forum discussion, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.
Pros: Competitive fees|Real-time alerts
Cons: Some tools only available on higher tiers
NXG Markets (nxgmarkets.com) changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Regular platform improvements|Stable platform|Comprehensive tools|API access
Cons: Minor UI glitches occasionally