On September 15, 2020, the Cologne-based fintech company unveiled a new version of its platform. The European online broker expanded its product range with 7,000 shares from 52 countries and 1,000 exchange-traded funds (ETFs) that can be traded commission-free.
“nextmarkets is opening a new chapter in online brokerage,” said CEO and co-founder Manuel Heyden. “With our new release, customers are now able to trade more than 7,000 shares and 1,000 ETFs – and all this completely free of charge. nextmarkets charges no account management, order or third-party fees. Customers always pay zero euros per transaction,” he added.
The innovative European fintech company was founded in 2014 and has grown immensely since then. It boasts an average compound annual growth rate (CAGR) of 221 percent in terms of executed trades, and, compared to the fourth quarter of 2019, the trading volume more than tripled in just the first quarter of 2020.
But that’s not all. Thanks to the increased capital market volatility and the planned launch of more innovative features, nextmarkets expects a total of about 1.2 to 1.7 million trades to be settled via its platform in 2020.
“In addition, almost all securities can be traded with leverage. In this way, we are expanding our product universe to over 8,000 securities. Furthermore, we are extending the trading hours for shares in euros from 8 a.m. to 10 p.m. [CET],” Dominic Heyden commented.
nextmarkets is the first online broker to seamlessly integrate leveraged equities and contract for difference (CFD) trading like this.
What sets nextmarkets apart from other brokers?
With the new version of its platform, nextmarkets provides its users access to a demo and a real-money variant with just one nextmarkets account.
Further, nextmarkets allows its users to trade fractions of shares. Because of this, even expensive stocks can be traded for just €10.
Also, in addition to truly commission-free trading of shares and ETFs for €0 via the stock exchange, the fintech company offers an advanced, highly flexible proprietary technology platform as well as an extensive set of hard-to-get regulatory approvals and licenses.
The company is headquartered in Cologne but also has offices in Lisbon as well as Malta, and it is backed by leading venture capitalists such as Peter Thiel, Axel Springer, Christian Angermayer, Falk Strascheg, Founders Fund, and the publicly listed FinLab AG.
If you use nextmarkets, you don’t pay order and custody fees or hidden costs, such as third-party fees or flat rates. On top of that, you have access to the up to 200 real-time investment ideas across seven asset classes that the more than a dozen trading coaches on the platform provide per month, free of charge.
nextmarkets has iOS, Android and web apps that constantly get improved to ensure the best user-experience. You can deposit money via credit card (Mastercard, Visa) or via bank transfer, and, in addition to market orders, limit and stop orders are also available.
Trading hours are from 8 a.m. to 10 p.m. CET, and you can trade all shares and ETFs as CFDs with leverage. Additionally, all major indices, bonds, commodities, and currency pairs are available as CFDs.
How can nextmarkets provide its services without fees?
Like virtually any other online broker, nextmarkets receives rebates from the stock exchanges on which your orders are executed. However, usually brokers just pocket that difference. nextmarkets, on the other hand, uses that, and its lean corporate structure and high degree of automation, to eliminate order and custody fees.
The company also offers a money market product with a market-leading interest rate of 1.25 percent p.a., which it achieves by exploiting the difference in interest rates between the US and the EU.