Nextonbid Review: The Good, the Bad, and the Ugly of the Brokerage
If you are tired of searching for a broker and doing the research, our Nextonbid review will tell you everything you need to know. Learn about their regulation, traders’ opinions, payment methods, traders they serve, the Nextonbid scam, and many more. If you’re looking for a wider range of choices, explore our Northern Bits review to uncover potential fraudulent brokers.
Due to the possibility of fraud, both regulated and unregulated brokers are the subject of our in-depth analyses. When looking for a broker to trade with, awareness is key, and we always advise doing your research so you can be fully informed.
Who Is Nextonbid? All About nextonbid com
According to its website, Nextonbid claims to be based in the UK and to provide accounts for trading in forex, equities, cryptocurrencies, commodities, indices, and NFTs. There isn’t even an email address shown in their contact information, but they did provide a Reddy Keddy Limited phone number. Overall, the lack of information regarding this broker’s business makes it clear that it is a hoax.
|Broker name||Reliable Broker Must Have|
|Legal name||Reddy Keddy Limited||Transparently displayed in the disclaimer or legal documents|
|Regulation||Unregulated||Within your legal jurisdiction – local regulator|
|Registered in||7 Bell Yard, London, England, WC2A 2JR||Your country or the country whose license applies in your legal jurisdiction|
|Established||2023||The older the domain – the higher the possibility the company is trustworthy|
|Website||nextonbid.com||Domain should be from local or international zones, no .xyz etc.|
|Financial Authorities Warnings||
|Phone, email, social media, web form|
|If a withdrawal is possible||Highly unlikely||Yes|
||Transparent fees – list of spread and commissions|
|If Active on Social Media||No||Often present on social media|
|Investor Protection||None||Compensation fund|
Given that Nextonbid is not governed by anybody and that the BC Securities Commission (BCSC) has issued a warning declaring that they are not authorized to conduct business in the UK, the Nextonbid scam appears to be a little too real.
The Canadian Securities Administrators (CSA) supported that warning, providing a link directly to the BCSC’s website.
Additionally, the International Organization of Securities Commissions (IOSCO) published an investor alert, also providing a link to the BCSC’s warning.
Overall, it is safe to declare that this broker is a fraud and should be avoided in light of the numerous authorities’ warnings and the absence of regulation. Transparency and regulation are two important qualities to seek in a broker, but this broker is lacking in both.
Nextonbid Broker Profile
At Nextonbid, you can trade with forex, stocks, cryptocurrencies, metals, indices, commodities, and NFTs. The maximum leverage they offer is 1:1000 which seems too much and a great way for them to scam people. According to their website, they are using the CFD platform without a name, which raises even more red flags.
|Trading platform||Nextonbid CFD Platform|
|Account types||Main, Bronze, Silver, Gold, Platinum, VIP|
|Financial Instruments On Offer||
|Maximum leverage||1:1 to 1:1000|
|Education or Extra tools||CFD Trading, Technical Analysis, Fundamental Analysis|
Nextonbid Account Types
Customers of Nextonbid have access to a variety of account types. There is no indication of the maximum leverage or spreads, but each account type has a distinct maximum volume. The available account types and their details are listed below:
- Main Account: $250
- Bronze Account: $2,500
- Silver Account: $10,000
- Gold Account: $50,000
- Platinum Account: $100,000 – $500,000
- VIP Account: By invitation only
Please be aware that while the VIP account is only accessible by invitation and offers the most versatile trading choices with high maximum volumes for all asset types, the Main account has the lowest minimum deposit requirement.
Is Nextonbid Safe To Trade With?
We will never suggest that using an unregulated broker is a wise move. Your cash will never be secure if there is no one monitoring the broker’s operations, although occasionally we are astonished to encounter a broker with all other elements. As we previously stated, Nextonbid is not only unregulated but also lacks transparency because their fees are concealed, no mention is made of any withdrawal fees or other fees, multiple authorities alert investors to their operations, and overall, their traders have a very negative experience.
Avoid Nextonbid at all costs as it is not a reliable option. If you have already deposited money with them, make a withdrawal request right away. Since some traders have reported having withdrawal problems, if you run into trouble, contact us so we can help you get your money back.
Nextonbid Review: Traders’ Thoughts and Opinions
On Trustpilot, Nextonbid has 20 reviews with a 1,7 overall rating. Not only is this horrible, but after looking at even 95% of the negative reviews, we discovered that they virtually exclusively center on withdrawal problems. Since we do thorough reviews, we read each and every comment made about the broker.
One trader expressed his stress while dealing with Nextonbid: “They used to do business as Comovest, but this is a complete hoax. As you are going to withdraw money, a strange trade will begin on your account and lower your “supposed funds to zero”. They will keep taking your money.“
Another one shared his frustration: “Here I was thinking that with this investment platform, my financial status would be elevated but guessed wrong. All they did was steal from me. It was a very scary experience with NextonBid, but I have learned my lesson.”
Once you make a withdrawal request, they will either reduce your balance until they have taken all of your money or simply keep delaying it until they have. Your hard-earned money will be snatched from you in either case.
A Look at Nextonbid’s Traders They Serve
Nextonbid appears to have built a significant clientele through its referral program and alluring but deceptive promises. But a closer look at their clientele raises questions about their reliability. Their clientele is largely from nations like Canada, France, Finland, the United Kingdom, and Belgium.
The fact that Nextonbid is not governed by reputable financial organizations like the Financial Conduct Authority (FCA) of the UK or the Investment Industry Regulatory Organization of Canada (IIROC) is one glaring red flag. Because of this lack of control, their reliability and adherence to industry standards are seriously questioned.
Prepared to make wise trading decisions? Contact us right away to locate a licensed and trustworthy broker that meets your requirements. Begin your journey to successful trading today. Today, schedule your free consultation!
Deposits and Withdrawal Methods
To deposit at Nextonbid, you can use e-wallets, bank cards, and electronic payment systems. Although the accepted currencies are not listed, the most popular ones are the US dollar, the euro, and the British pound. Although it is claimed that there are no deposit fees, no information is provided on withdrawal fees.
According to their website, withdrawal has no restrictions. You can always ask to have any money that is still in your trading account withdrawn. Bank wire is an exception, with a $300 minimum withdrawal requirement. The minimum withdrawal amount for bank cards, wallets, and electronic payment systems is one dollar ($1) plus any applicable commission.
Nextonbid Pros and Cons
Long Story Short – Nextonbid
It’s clear as a day that Nextobid should be avoided. With multiple authorities agreeing with us, lack of transparency, withdrawal issues, bad experiences from their traders, lack of transparency and information, hidden fees, and their suspicious platform with high leverage, we conclude that Nextonbid is not a safe option for traders. Another poor opportunity for investment is GISCapital so make sure you read our review on them.
Don’t put your money at risk by using Nextobid or GISCapital. By selecting a trustworthy and open broker, you can safeguard your money and make wise judgments. For professional assistance in choosing the best broker who puts your financial security first, get in touch with us right away. Schedule a free consultation right away to trade with assurance!
Is Nextonbid Legit?
Nextonbid is an unregulated broker that multiple authorities like IOSCO, BCSC, and CSA advise against using.
How Does Nextonbid Work?
Their referral program, high leverage, and high maximum volumes help them draw customers. Because they are unfamiliar with trading, many inexperienced traders are susceptible to misleading promises.
What is the minimum deposit on Nextonbid?
The minimum deposit required is $250 and the maximum can go up to $500,000+. The VIP is an invitation only so the deposit is not disclosed.