Want to Try a Relatively New Broker? Read our Nexsus Financial Markets Broker Review
Not to be confused with a mini tablet developed by Google, Nexsus Financial Markets are a UK based brokerage firm that’s owned by Abshire-Smith Global Ltd, an FCA regulated company. Nexsus Financial Markets is an execution only broker, and is not authorised to provide financial advice. The brand was established in 2013, so can be considered a bit of a newcomer to the world of Forex trading. Aside from foreign currency trading, it also offers investors the chance to trade in precious metals, futures, commodities, indices, and Government and Public Securities. Although this last option is mostly offered to institutional clients.
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Nexsus Financial Markets offers traders the most popular trading platform available
For all its customers, Nexsus has decided to stick with what is still the most popular trading platform for traders, and indeed many other brokers. MetaTrader 4, both desktop and mobile versions, provides everything a trader could possibly need. Including automated strategies, loads of built-in technical analysis tools, and an extensive back-testing environment. It still manages to keep up with the latest advances in the trading industry, and is more than capable of serving thousands of traders at the same time, across multiple accounts, via the average computer. MT4 has no problem processing tons of different financial instruments, with the help of historical tracking that goes back quite a few years. The advantages of using Nexsus Financial Markets MT4 platform include:
- Easy to use and extremely user-friendly
- Live quotes support fast trade execution
- Trailing stop orders
- Multilingual user interface
- Expert Advisor
- Traders alerts
- Contingent and pending orders are allowed
Nexsus Financial Markets offers a range of different trading accounts
With Nexsus Financial Markets there is a choice of four different types of account. Let’s take a look at each one in turn.
Micro account – This account is designed for investors who would prefer to take a smaller position in a currency. A Micro account holder has access to the same options as a standard account holder which include trading platforms, charts, support, and a number of other material. Small contract sizes, and minimum deposit of only $250, makes this the perfect account for beginners. One downside is that Micro account holders can only trade gold and silver, and Forex.
Standard account – A Standard account offers traders the full range of trading instruments and much better trading terms. There are fixed or verbal spreads, top of the range quote streams, and speedy order execution. Minimum deposit is $2,000.
Advanced account – This account is aimed at the high volume traders, and those who have $100,000 or more to invest. With this account there are lower spreads, but leverage is also lower at 1:100. This type of account is perfect for professional traders, Money Managers, assist management and hedging funds.
With all the above accounts there are no commission charges. The broker makes their money via the spread.
ECN account – This account is for those traders who require lower spreads, and the quick execution that comes with the ECN environment. Rather than charges being made through the spread an ECN account raises a $6 round-turn commission instead.
Trading conditions at Nexsus Financial Markets
Many of the trading condition offered by Nexsus Financial Markets can be considered pretty average. There isn’t really anything that will make new traders go wow. A minimum deposit of $250 will enable you open a Micro account. A number of other better known brands have much larger minimum deposits, such as FxPro, which requires $500 from their clients.
Spreads offered can be fixed or variable. Fixed spreads are 2.0 pips on major currency pairs, with a Micro account, and 1.8 pips with a Standard account. Variable or floating spreads start from 0.6 pips on an ECN account. However, this account also involves commission fees of $6 per lot.
The maximum leverage at Nexsus Financial Markets is 1:400. Pretty much average there as well. There are a number of brokers with much higher leverage, such as XM at 1:888.
Customer support was a little disappointing
Support for new customers is always an important factor we take into consideration when writing our broker reviews, and we were a little disappointed with Nexsus Financial Markets. There is a live chat option, but this doesn’t appear to work 24 hours day, as well as a call back option. There is also an email address. With regards training and educational information there was nothing, not even a FAQs section. This may be because Nexsus Financial Markets are not aiming their services at the complete beginner. So perhaps we shouldn’t consider this failing a reason for not trying out their services. After all, they haven’t been operating in the industry for as long as many of the other big brand names, and there is plenty of time for this company to improve their services.