Overview of NXG Markets
NXG Markets is an innovative online trading broker established in 2024 and headquartered in Australia, providing a wide range of financial services under the regulation of the Australian Securities & Investment Commission (ASIC). The broker offers diverse tradable assets including forex, cryptocurrencies, metals, indices, and stocks, and caters to all types of traders with multiple account types, from beginners to professionals. NXG Markets emphasizes advanced trading technology by featuring platforms like MetaTrader 5 and cTrader.
Is NXG Markets Legit?
NXG Markets operates as an Appointed Representative (AR) regulated by the Australian Securities & Investment Commission (ASIC). The attribution of a license number (001308207) further confirms NXG Markets' regulated status within the Australian financial landscape.
Pros and Cons
Trading Instruments
NXG Markets offers a comprehensive suite of trading instruments encompassing forex currency pairs, commodities, global indices, shares, and cryptocurrencies.
Account Types
NXG Markets offers a variety of account types tailored to meet the needs of different traders:
1. Start Account: This account is designed for newcomers, requiring a minimum deposit of just $25. It features spreads starting from 2 pips and offers leverage up to 1:500. This account does not charge commissions and includes the option for a swap-free account, making it accessible and cost-effective for those new to trading.
2. Pro Account: Targeting more experienced traders, the Pro Account requires a $1500 minimum deposit and improves on the Start Account by offering tighter spreads starting from 1.2 pips. It maintains a high leverage of up to 1:500 and also operates without commission. Like the Start Account, it provides a swap-free option.
3. Prime Account: With a minimum deposit of $2500, the Prime Account caters to serious traders looking for even better trading conditions. Spreads begin at 0.6 pips, and the leverage offered is up to 1:300. This account also features no commission charges and includes a swap-free option.
4. ECN Account: Ideal for professional and institutional traders, the ECN Account requires a minimum deposit of $5000 but offers the most competitive trading environment with spreads starting from 0 pips. It includes a commission for trading, reflecting its direct access to market prices. The leverage is slightly lower at 1:200, suitable for high-volume trading that requires precise execution.
All accounts offer instant execution and support trading with a minimum volume of 0.01 lots. They are all available in USD and come with a margin call set at 100% and a stop out level at 80%, ensuring a range of choices for traders at all levels.
How to Open an Account?
To open an account with NXG Markets, follow these steps.
- Visit the NXG Markets website. Look for the “Sign up” button on the homepage and click on it.
- Sign up on websites registration page.
- Receive your personal account login from an automated email
- Log in
- Proceed to deposit funds to your account
- Download the platform and start trading
Leverage
NXG Markets offers varying leverage levels across its account types, allowing traders flexibility based on their risk appetite and trading strategy. Leverage ranges from 1:200 for the ECN Account, which is geared towards professional traders, up to 1:500 available in both the Start and Pro Accounts, catering to those seeking higher risk-reward ratios. The Prime Account offers a moderate leverage of 1:300, balancing risk and potential gains for serious traders.
Spreads and Commissions
NXG Markets provides a range of spreads and commission structures across its account types:
- Start Account: Spreads start from 2 pips, with no commission.
- Pro Account: Offers tighter spreads starting from 1.2 pips, also without commission.
- Prime Account: Features even lower spreads beginning at 0.6 pips, commission-free.
- ECN Account: Provides the tightest spreads from 0 pips, but includes a commission on trades to offer direct market pricing.
Deposit & Withdraw Methods
NXG Markets offers a variety of deposit and withdrawal methods globally, all with no fees and processing times of up to one hour. These methods include Ethereum, Altcoins, Perfect Money, Net Banking, Neteller, Skrill, UPI, and traditional Bank Transfer. All transactions require uploading a screenshot in the CRM.
Trading Platforms
NXG Markets offers multiple trading platforms. The broker provides access to the industry-standard MetaTrader 5 (MT5) platform, renowned for its advanced features and robust trading capabilities. Additionally, NXG Markets supports the user-friendly cTrader platform, which combines a sleek design with powerful trading tools.
Customer Support
NXG Markets offers comprehensive customer support through multiple channels:
- Physical Address: #806, AL SERKAL BUILDING 2 PORT SAEED, DUBAI, U.A.E.
- Registered Address: BONOVO ROAD, FOMBONI ISLAND OF MOHELI, COMOROS UNION.
- Principal Business Address: L36 1 MACQUARIE PL, SYDNEY NSW 2000.
- Phone: +043432219 for calls.
- Messaging: +61-480-037-361 for text messages.
- Email: info@nxgmarkets.com for support queries.
- Online Chat: Available on their website for real-time assistance.
Educational Resources
NXG Markets provides a range of educational resources designed to support traders at all levels. These resources include instructional videos, live webinars, and in-person seminars, offering comprehensive learning opportunities for both beginners and advanced traders.
Trading Tools
NXG Markets offers advanced trading tools, including the integration of Autochartist, a top automated technical analysis tool. This enhancement provides traders with sophisticated analytics to identify promising trading opportunities efficiently.
CopyTrading
NXG Markets Copy Trading allows you to automatically copy the trades of expert traders, making it easy to increase profits and diversify your portfolio. Simply choose from top-performing traders and follow their strategies across over 100 assets.
Conclusion
NXG Markets offers a comprehensive trading environment, combining robust regulatory oversight from ASIC with a broad spectrum of tradable assets and advanced technological platforms like MetaTrader 5 and cTrader.
FAQs
What kind of regulatory framework does NXG Markets operate under?
NXG Markets is regulated by the Australian Securities & Investment Commission (ASIC).
What are the types of assets available for trading at NXG Markets?
Traders at NXG Markets can engage in trading a variety of asset classes including forex pairs, cryptocurrencies like Bitcoin and Ethereum, precious metals, global indices, and stocks.
What trading platforms does NXG Markets support?
NXG Markets utilizes the MetaTrader 5 (MT5) and cTrader platforms, both renowned for their powerful trading capabilities and user-friendly interfaces.
What are the account types available at NXG Markets, and what are their features?
NXG Markets offers several account types including the Start, Pro, Prime, and ECN accounts.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors.
FX2431712760
Pakistan
Hello Every One My Name is Asif Hussain And my Account # 18149 i have deposit 500$ in this company and gave me 500$ bonus i have diffrent times trade now profit and loss cut in daily basis then i gain profit now i transfer my funds in wallet 300$ and request for withdraw company give me 300$ withdraw then next time i again start trading and close position in profit & transfer amount 350$ and request for withdraw again but company next day send me email (Withdraw is Rejected ) i reply in support for send me a detail company reply me external hedging issue you can also check now my trading history is this is External or Internal Hedgng or company is a Scam
Exposure
In a week
FX2431712760
Pakistan
NXG has revoke my withdrawal and not giving to me my profit with saying that i have done external hedge. i even also ask them for proof of external hedge because i don't have even know about this hedge. i made many entries in different dates i also get many loss in these trades also that they are saying of hedge. actually they just make excuses to revoke my profit because they are scammers. i just received 300$ withdrawal. after that the other withdrawal, they are not giving any response to me through email i have contacted several times but in vain.
Exposure
03-28
戒
Hong Kong
They say I scalp or hedge, but my trades are one by one. I only place another trade after one trade is closed based on the signal. The duration of the orders can range from 1 minute to 1 hour, but there are also a significant number of orders that last more than 5 minutes. Sometimes, when I make a lot of profit or loss, I do lock positions. But does this also count as a violation? They directly blocked my account and then unblocked it, but they didn't give me the option to resubmit for verification.
Exposure
01-03
FX1169477544
India
My name is Sunil Kumar, in Rajni NXG my account was deposited and reduced to 0 and I was blocked. The account managers in the broker do not manage accounts and they are scamming. The same thing happened to my friends. There is no support from the broker's side. Please help me and stay away from these people.
Exposure
2024-10-09
FX1728939051
Argentina
My account closed for no reason. Two months ago I went through an account review claiming I didn't make more than 40,000 NZD. I showed very personal information of my crypto and stock portfolio show numbers and bank statement financials to save my account. My account was saved.
Neutral
2024-07-19
Nguyễn Ngọc Ming
Vietnam
Order types on NXG Markets is basic set, nothing special. Their overnight financing is average, not the best, but not terrible either. The platform is usable, but it's not the most intuitive.
Positive
2024-05-29