Tradenext Review

Tradenext is a very recent addition to the marketplace. It was founded in 2010 and went online in 2012, according to its website. It offers Forex trading, contracts for difference, and spread betting. It is registered with the FCA and received several awards in 2013 from various organizations and magazines, including Best New Company and Best Forex Broker. The company is Indian owned.

The trading platform offered is MetaTrader 4, which is well established and liked by forex traders. MetaTrader allows custom add-ons such as indicators, expert advisors, and interfaces, so you can customize the software to suit your preferences. Because the platform has been out for several years, there are also a wealth of custom written applications available, both free and paid, and you could easily find a metalanguage expert if you wanted to have your own custom add-on created.

The company advertises spreads as low as 0.7 on the major currencies, although the homepage has a scrolling display which shows a spread of 1.0 for the USDJPY, USDCAD, and EURUSD, and 1.4 for USDCHF and GBPUSD. It may be that the Flash display was commissioned and written before the spreads were decided upon.

Service is offered 24 hours a day for five days a week, by live chat, e-mail, or telephone. Because the company is so new, it is difficult to know how good the customer service is or how well the company performs. However, as it is FCA regulated the UK customer will have some means of reparation if things do not go as well as they should.

We normally don’t advocate you pay much attention to online reviews, as it is so easy to falsify these to make a company look better, or on the other hand to have one discontented client with a good Internet connection cast aspersions on an otherwise good company. However, we did note that many of the favourable reviewers stated that they had been satisfied clients since 2008 or 2009, which would suggest that at least some of the comments were clumsily fabricated.

It is not particularly clear from the website which markets are available for spread betting, so you need to register for a free demo account in order to confirm that the financial assets which you want to trade are available, and also to see what the spreads are. The website gives examples for trading Forex, trading commodities, and trading indices.  If you would like to consider the company, they do offer a demo account.