Independent Review - Nixse
Nixse is a new CFD online broker that was established in 2020 and promises traders access to global markets with lower costs than available from most brokers. They also seek to make it easier and faster to access financial markets. DO they succeed in their vision? Read on and you can find out through our review of Nixse’s offerings and services.
Nixse was launched as an online trading platform in 2020, and has its business licensed in St. Vincent and the Grenadines. As a newcomer to the CFD industry they have plenty to prove and are trying to establish themselves as a top-notch platform capable of delivering a superior trading experience to their clients. With a focus on making it faster and easier to access financial markets, while also lowering costs for traders, the broker has an ambitious task.
One benefit is that Nixse makes its services available globally, however this does not extend to the United States due to the regulations in place there regarding CFD trading. Nixse is also prohibited from offering its services to residents of Iraq and North Korea.
In terms of utility the platform offered by Nixse is called the NX Trader, but the features sound very similar to MetaTrader 5 to us. It is necessary to register an account with the broker to access the trading platform however, so we cannot verify whether this is true or not. If it is, then kudos to Nixse, because MetaTrader 5 is one of the top CFD trading platforms available. We do seriously doubt this new broker has spent the money to develop a proprietary trading platform.
Nixse is also competing with the bigger exchanges by offering over 1,500 different assets, including the new cryptocurrencies. That is certainly in their favor. There are some notable downsides however, most of which seem to revolve around a lack of transparency or possibly an unwillingness to share information. You will learn more about this throughout the review.
Nixse.com is the brand owned and operated by Nixse LLC and registered in St. Vincent and the Grenadines under business number 25973BC2020. There is no regulation of the broker, but it is required to operate under all the laws and regulations of St. Vincent and the Grenadines.
Aside from the regulations, Nixse does offer a number of security provisions to ensure client data and funds remain safe from hackers and scams. This includes SSL encryption of all sensitive personal information. It also includes 2-factor authentication for accessing accounts, which helps protect against hackers even further.
One thing will immediately stand out to you when visiting Nixse.com and that is the huge number of account tiers available. There are no less than seven different account levels, each with their own minimum deposit requirements, and with an increasing number of benefits and perks as you climb the ladder of tiers.
At the lowest levels clients will only have access to basic markets, but they do receive the same support as every other client, and access to leverage that goes as high a 1:400. Higher account levels do provide access to additional assets.
Once you hit the VIP tiers there is mention made of access to analysis and technical signals, but there is no information regarding any of this elsewhere on the website. The VIP levels also claim “no extra charges” and “0 fees on deposit” which makes me wonder just what fees are being paid at the lower levels. This is one of the areas where more transparency would be great because there is no information on the website regarding fees, spreads, commissions, or anything similar.
Below are the minimum deposits required at each tier:
- Newcomer (Minimum Deposit $250)
- Standard (Minimum Deposit $15,000)
- Blaze (Minimum Deposit $50,000)
- Turbo (Minimum Deposit $100,000)
- VIP Exclusive (Minimum Deposit $500,000)
- VIP Gold (Minimum Deposit $1,000,000)
- VIP Platinum (Minimum Deposit $10,000,000)
As mentioned earlier there are over 1,500 assets represented on the Nixse platform, which is quite impressive for a newer CFD broker. These assets span all the major classes and include forex, cryptocurrencies, shares and indices, and commodities.
Forex – There are more than 90 currency pairs available with leverage as high as 1:400.
Cryptocurrencies – Cryptocurrencies have become increasingly popular over the past few years, and traders demand access to this innovative new asset class. Nixse responded by adding a number of popular cryptocurrencies such as Bitcoin, Litecoin, and Ethereum. Cryptocurrencies also benefit by being the only asset trading 24/7.
Shares – This is where the bulk of the 1,500 assets comes from, and Nixse has some of the world’s largest stocks available to trade as CFDs. This includes popular names like Tesla and Apple.
Indices – Nixse offers trading against some of the most popular global indices such as the S&P 500 and the FTSE 100.
Commodities – These fall into the energy and metals categories. In energies traders can speculate on crude oil and natural gas, while the metals include the popular gold and silver CFDs.
As mentioned above Nixse advertises its platform as the NX Trader, but the specifications sound like MetaTrader 5 to us. Of course, the broker is free to brand the platform as they like, but we see no reason not to just call it MetaTrader 5.
In any case, here is a list of all the benefits and features the NX Trader platform possesses to satisfy all traders’ needs.
- Advanced automation and charting tools
- Advanced charting and trading tools
- Automated ordering
- Over 1,500 instruments
- Leverage up to 1:400
- Superior analysis tools
- 21 different timeframes
- Up to 100 charts simultaneously
- Access via Web, from any web browser
Nixse has a graphic on their website that indicates they accept several deposit methods that include bank transfers, Visa, Mastercard, Discover, and even Bitcoin. However, there is no actual information on the website regarding deposit and withdrawal methods. There is also no information regarding deposit and withdrawal fees. The only indication about deposits and withdrawals we found was that withdrawals take five business days to process.
Customer service at Nixse is provided by two different groups, which we found to be interesting and most likely quite useful. One group is dedicated to responding to prospective clients who have not registered yet, while the other group is dedicated to responding to clients who are registered. We feel like this probably provides superior customer service results.
Both support teams can be contacted via online chat, telephone, or email and there are different email addresses for each group.
Email (pre-sign up): firstname.lastname@example.org
Email (post-sign up): email@example.com
As a new CFD trading platform Nixse is providing some mixed results. The over 1,500 assets available from the broker is an excellent showing, and we are certain many traders appreciate the varied tiers of access available. It is also interesting to see two separate support teams operating to serve clients and non-clients. We think that is a good idea.
If Nixse actually delivers on its promise of low fees and spreads, then this could be a great choice for new and seasoned traders. However, the actual fees, commissions, and spreads are not revealed on the website, and that is one area they could improve on their website.
In the meantime, we believe the broker is worth trying, especially for its broad asset offering.