Nextonbid Review – Is nextonbid.com Broker Scamming People?

Is Nextonbid a Scam Broker?

Nextonbid provides their services in many developed countries, but does not have a trading license. The FCA is the financial supervisor that has legal precedent for brokers based in the UK.

A quick search in the FCA database confirms that Nextonbid does not have authorization. Nextonbid is not listed in ESMA, BaFIN, FIN-FSA, AMF, CySEC or FSMA. Also, a regional Canadian regulator BSCS issued a warning regarding Nextonbid.

Nextonbid is in violation of many UK regulatory rules. One of them is the maximum permitted leverage. Nextonbid allows leverage up to 1:100, while the maximum for UK brokers is 1:30. The EU has a similar cap, while Canada is only marginally higher at 1:50.

In order to qualify for a UK license, brokers must have a minimum of PS730000 in capital. In the EU this is EUR730000, while in Canada it is CA$1,000,000.

All of these regulators also require full transparency in transactions and segregated accounts. Nextonbid’s finances can be made opaque by the use of Cryptocurrencies.

There are discrepancies with the deposit and withdrawal methods offered at Nextonbid. Thus, we are led to believe Nextonbid blatantly ignores AML regulation as well.

Warnings Against Nextonbid

It is important to note that Nextonbid has been warned by a British Columbia regulator. In the warning, it is stated that Nextonbid offers their services without authorization. This authorization should be issued either by the former IIROC or the New SRO in Canada.

Nextonbid Traders’ Experience

Nextonbid’s user reviews reveal the scam signs. Some people give it 5 stars, but lately the 1 star reviews have become more common. The high rating is due to the paid supporters.

According to one of the most credible user reviews:

[…] Just as you are about to withdraw funds, a mysterious trade will open on your account and reduce your ‘supposed’ funds to zero. […]

Every day new scam brokers and trading bots appear on the web with only one goal – to steal your money. We have already exposed some of them, for example – FxAlta, Top-Market.Io, UltraPrimeFX.

Nextonbid Trading Instruments

Nextonbid is alleged to offer a variety of trading instruments in a range of categories. This scam does not just offer the highly speculated Forex but also commodities, and even NFTs.

• Forex (EUR/USD, GBP/CHF, AUD/NZD, EUR/RUB);
• Cryptocurrencies (Cardano, Ethereum, Bitcoin, Dogecoin);
• Stocks (Ford, Boeing, Coca-Cola, BASF);
• Commodities (Natural Gas, Soybean, Cocoa, Coffee);
• Metals (Copper, Palladium, Platinum, Silver, Gold);
• Indices (USD Index, Nasdaq, Dow Jones, Hang Seng);
• NFTs (Bored Ape CC, Cyber Kongz VX, DeadFellaz).

Nextonbid Trading Accounts

Nextonbid offers a variety of accounts, as is the norm for these scam brokers. The minimum deposit for these accounts is $250. They are quite pricey. Although you would expect some variation in the trading conditions, Nextonbid disappoints even more. The only difference between accounts is the lot size for each financial instrument.

• Main: $250;
• Bronze: $2 500;
• Silver: $10 000;
• Gold: $50 000;
• Platinum: $100 000;
• VIP: undisclosed, invitation only.

Choose only trustworthy and reliable brokers. You can read about the best ones in our article Best online brokers in 2023.

What Should I Do If I Am Scammed by Nextonbid?

There is not much that you can do to stop these scams on your own. We encourage our readers to get in touch with our staff. The more evidence we have, the quicker we can try return your money.

Contact our team if you or someone you know is a victim. Online chat is the fastest way to get a response and receive a free consultation. Do not give up! The sooner we act, your chances of recovering your money are better!

Nextonbid: Video

You can also write a comment under the video on our YouTube channel to tell other traders about your experience. But if you’ve already been a victim, contact us for a free consultation by filling out the form at the top of the page.
Below you will find a short video about Nextonbid. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about Nextonbid!