U.S. markets closed
  • S&P 500

    -119.65 (-3.53%)
  • Dow 30

    -943.24 (-3.43%)
  • Nasdaq

    -426.48 (-3.73%)
  • Russell 2000

    -47.21 (-2.97%)
  • Crude Oil

    -2.23 (-5.64%)
  • Gold

    -34.90 (-1.83%)
  • Silver

    -1.14 (-4.64%)

    -0.0036 (-0.31%)
  • 10-Yr Bond

    +0.0030 (+0.39%)

    -0.0056 (-0.43%)

    -0.1680 (-0.16%)

    +0.79 (+0.01%)
  • CMC Crypto 200

    -11.75 (-4.31%)
  • FTSE 100

    -146.19 (-2.55%)
  • Nikkei 225

    -67.29 (-0.29%)

Nextmarkets Expands to 7,000 Shares and 1,000 ETFs That Can be Traded Commission-Free

Jared Polites
·3 mins read

It seems that the more the fintech industry expands, the more avenues there are for the buying and selling of financial products. One of the latest of these comes from Nextmarkets, which recently announced that they expanded their product range for customers. This expansion includes 7000 shares as well as 1,000 ETFs which can all be traded free of commission on their platform. 

The announcement was officially made on Sept 15 and outlines the new products and services of Nextmarkets. Firstly, the company offers zero-fee for equity trading as well as zero account management fees, zero-order fees and zero third-party fees. This means that across all transactions, customers will pay exactly 0 euros in terms of fees.

New Features Integrated for Ease of Use

For those who are not very well-versed in the art of trading, Nextmarkets provides convenient resources for this purpose. There are over a dozen trading coaches on the platform who offer real-time advice for users, providing users who are new to investing receive a great deal of support and guidance throughout the process.

For those who are interested in leveraged trading, Nextmarkets allows up to five times leverage for almost all securities offered on the platform. To take advantage of this, users only need to drag the leverage slider up to five times at which point they will be allowed to leverage trade. Nextmarkets is the first neobroker to integrate this sort of equities and CFD trading in this manner. 

Nextmarkets also offers a money market product with a market-leading interest rate of 1.25%, which the company achieves by exploiting the difference in interest rates between the EU and the USA. While the cutting interest rates is taking place across the board, Nextmarket has been able to avoid this for their customers. These new developments are part of a strategic plan to innovate the market and bring more benefits to Nextmarket’s customers according to their management.

"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,” says CEO and co-founder Manuel Heyden. 

Some might be curious as to how Nextmarkets is able to run a profitable business while charging zero commissions. Nextmarkets receives rebates from the stock exchanges where customer orders are executed. This, along with the amount of automation and lean corporate culture that Nextmarket leverages, means that they can be profitable without charging fees to their customers.

Customers are able to take advantage of these benefits for an even longer time, as the company also extended the trading hours for shares in euros from 8 a.m. to 10 p.m, according CTO and co-founder Dominic Heyden. 

With all these developments, the European-based neobroker is on track to have a very profitable 2020 and as well as bringing brand new benefits to their large customer base. This is as the crypto market has seen an expansion in the last few months even following the COVID-19 outbreak.

Disclaimer: the writer does not have any relationship or vested interest in Nextmarkets. 


See more from Benzinga

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.