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Articles / Firstrade vs Nextmarkets: 2023 Comparison

Firstrade vs Nextmarkets: 2023 Comparison

Franklin Carneiro da Silva| Updated: February 27, 2023

Are you confused about whether to choose Firstrade vs Nextmarkets as a broker for your investing needs?

In this side-by-side comparison, we analyse Firstrade vs Nextmarkets to help you understand how these apps compare on some of the most common features and make a better-informed decision about the best broker for you.

Below, you’ll find the pros and cons of each broker, as well as a comparison table that features the different fees charged, the financial instruments supported, the regulation, and more. Keep reading!

Ideal for
US investors looking for US options only

Firstrade is a traditional company founded in 1985 that recently changed its strategy to become a commission-free online trading platform for stocks, ETFs and options.

The broker is considered safe, with a long track record that survived a few crises and top-tier regulators’ supervision.

The main drawbacks are its limited products offering (no European ETFs, stocks,…) and the fact that it only offers fractional shares on reinvested dividends.

Firstrade vs Nextmarkets: 2023 Comparison 2
Visit NextmarketsAsset 3

56.65% of retail CFD account lose money.

Ideal for
Curated investing

Nextmarkets is an online broker well-tailored for those with a basic understanding of the financial markets. It has a very intuitive and hassle-free mobile app.

You can invest in financial products such as shares, ETFs, CFDs on shares, ETFs, indices, forex, bonds, cryptocurrencies, and commodities.

With “curated investing”, Nextmarkets wants to allow you to benefit from the experience of proven experts (called “coaches”) and stock market professionals.

Pros and Cons

Pros

  • Commission-free stock, ETF, mutual fund and options trading
  • Good research and educational content
  • No inactivity fees
  • No minimum deposit

Cons

  • You can trade only on US markets
  • No 24/7 customer support
  • No demo account
  • No fractional shares

Pros

  • Zero commission trading for all asset classes (orders above €250)
  • No custody, inactivity and deposit/withdrawal fee
  • Fast account opening process (less than 5 min)
  • No minimum deposit
  • No currency conversion fee
  • Good customer support
  • Demo Account

Cons

  • €1 commission per order below €250
  • The web platform is a little “buggy”
  • No clear distinction between real shares and CFDs
  • Spreads are above average
  • No fundamental data
  • No educational materials
  • The minimum withdrawal is €150
Firstrade vs Nextmarkets: 2023 Comparison 3
Firstrade vs Nextmarkets: 2023 Comparison 4
  •  
  • General Information
  • Founded in
  • Demo Account
  • Account Minimum
  • Interest on unninvested cash (annually)
  • Products
  • Stocks
  • ETFs
  • Bonds
  • Funds
  • Options
  • Futures
  • CFDs
  • Leverage Products
  • Forex
  • Cryptocurrencies
  • Commodities
  • Fees
  • US stocks
  • EU stocks
  • ETFs
  • Cryptocurrencies
  • Custody Fee
  • Inactivity Fee
  • Withdrawal Fee
  • Connectivity Fee
  • Currency Conversion Fee
  • Security
  • Regulators
  • Investor Compensation Scheme(per person, per institution)
  • FirstradeAsset 3
  • General Information
  • Founded in1985
  • Demo Account
  • Account Minimum$1
  • Interest on unninvested cash (annually)0%
  • Products
  • Stocks
  • ETFs
  • Bonds
  • Funds
  • Options
  • Futures
  • CFDs
  • Leverage Products
  • Forex
  • Cryptocurrencies
  • Commodities
  • Fees
  • US stocks$0
  • EU stocksNot Applicable
  • ETFs$0
  • Cryptocurrencies1%**Spread on either side of a crypto trade.
  • Custody Fee$0
  • Inactivity Fee$0
  • Withdrawal Fee0$ for ACH**Wire transfers cost $30-35 (depends on your residency).
  • Connectivity Fee0$
  • Currency Conversion FeeNo available information
  • Security
  • RegulatorsFCA and FINRA.
  • Investor Compensation Scheme(per person, per institution)Up to $500,000 **Including international clients.
  • NextmarketsAsset 3

    56.65% of retail CFD account lose money.

  • General Information
  • Founded in2014
  • Demo Account
  • Account Minimum€1
  • Interest on unninvested cash (annually)EUR: Up to 2.30%
  • Products
  • Stocks
  • ETFs
  • Bonds
  • Funds
  • Options
  • Futures
  • CFDs*On Stocks, ETFs, Indices, Bonds, Cryptocurrencies, and Commodities.
  • Leverage Products
  • Forex
  • Cryptocurrencies
  • Commodities
  • Fees
  • US stocks€0**€1 for orders below €250.
  • EU stocks€0**€1 for orders below €250.
  • ETFs€0**€1 for orders below €250.
  • CryptocurrenciesNot Applicable**$20 spread on Crypto CFDs.
  • Custody Fee€0
  • Inactivity Fee€0
  • Withdrawal Fee€0
  • Connectivity Fee€0
  • Currency Conversion Fee0%
  • Security
  • RegulatorsMSFA
  • Investor Compensation Scheme(per person, per institution)Up to €20.000 **From non-returned assets up to 90%.
Franklin Carneiro da Silva
Co-Founder & Fintech Analyst

Franklin is a CFA Level III Candidate with 3 years of experience in Wealth Management as a Fund Research Analyst and the Host of the "Edge Over Hedge" YouTube Channel.

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