FinLab AG Nextmarkets expands its product range with 7,000 shares and 1,000 ETFs that can be traded commission-free via exchange
Frankfurt / Cologne, 15/09/2020 - The innovative European neobroker, Nextmarkets - a portfolio company of Frankfurt-based FinLab AG (ISIN: DE0001218063; Ticker: A7A.GR) - unveils the new version of its platform. "Nextmarkets is opening a new chapter in online brokerage," says CEO and co-founder Manuel Heyden. "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". This is possible because Nextmarkets, like some other online brokers, receives rebates from the stock exchanges on which the customer orders are executed. Thanks to a lean corporate structure and a high degree of automation, Nextmarkets can therefore be profitable without needing to charge fees to its users. The start-up company is essentially passing its cost advantage on to its customers.
All securities still tradable with leverage
CTO and co-founder Dominic Heyden adds: "In addition, almost all securities can be traded with leverage. In this way we are expanding our product universe to over 8,000 securities. Furthermore, we are extending the trading hours for shares in euros from 8 a.m. to 10 p.m.". Nextmarkets also offers a money market product with a market-leading interest rate of 1.25% p.a., which the company achieves by exploiting the difference in interest rates between the EU and the USA. In addition, Nextmarkets allows users to trade fractions of shares if they wish. In this way, even expensive stocks can be traded for only 10 or 50 euros.
New account version and completely new brand identity
Nextmarkets' new version simplifies the way that users open accounts. Until now, Nextmarkets users had either a demo account or a real money account. From today, both variants are combined in just one Nextmarkets account, which can be opened within a couple of minutes.
The wealth of innovations and improvements in the service is rounded off with a modernised brand image, including a new website and new logo "n to the power of 3". (The "3" stands for the three Nextmarkets pillars: commission-free trading of shares and ETFs, expert-curated investing and for smart financial products. It's also the "m" for "markets".)