FXNet Review

MIN. DEPOSIT $50
Up to 500:1
No BONUS
0 Users (0 votes)
Odds0
Services0
Support0

Overview

Company Information Fxnet is a relatively new online trading broker who started its operations in 2012. The online platform launched in 2013. Their headquarters are located in Limassol, Cyprus, and… more

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Details

BrokerFXNet
Website URLhttps://www.fxnet.com/
Founded2012
HeadquartersLimassol,Cyprus
Support Number +357 25 108 111
Support Emailsupport@fxnet.com
Support TypesPhone, Live Chat, E-mail
LanguagesEnglish, Arabic, Greek, Japanese, Cantonese, Chinese, Vietnamese, Hungarian, Czech, Polish, Russian, Farsi, Slovak, Croatian, Romanian, Spanish
Minimum 1st Deposit$50
Minimum Trade Amount0.01 lots
Maximum Trade Amount20 lots
BonusNo
PayoutUp to 500:1
Free Demo AccountYes
Regulated Yes
RegulationCyprus Securities and Exchange Commission (CySEC)
Account TypesStandard, VIP, Platinum, Islamic, Corporate, MAM
Deposit MethodsVisa, MasterCard, Skrill, Wire Transfer, WebMoney, Neteller, China UnionPay, Qiwi, FastBank, Przelewy24
Withdrawal MethodsVisa, MasterCard, Skrill, Wire Transfer, WebMoney, Neteller, China UnionPay, Qiwi, FastBank, Przelewy24
Types of AssetsShares, Bonds, Indices, Commodities, Forex, CFDs
Account CurrencyEUR, USD, GBP, JPY, RUB, PLN, CZK, CNY,
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

Fxnet is a relatively new online trading broker who started its operations in 2012. The online platform launched in 2013. Their headquarters are located in Limassol, Cyprus, and the company is fully licensed by the CSEC (Cyprus Security and Exchange Commission). The broker offers a unique Forex and commodities trading experience to all its users. Despite their short history, they have earned the reputation of a stable trading platform and offer some excellent features. The versatility and trading options they offer are what every modern broker needs. The overall performance of the site is best recognized by the countless good reviews it got from trusted sites.  Getting an above average rate in these is quite an effort but it seems that the people who have invested in this platform have only the best things to say about it. With relatively low deposit requirements and a lot of educational material, Fxnet has grown to be a fully legit online broker. Let’s see what it has to offer.

 

Trading Information

The people behind Fxnet understand that a new platform has to offer the best trading experience possible to be acknowledged in this industry. For starters, maximum Forex leverage is set to 500:1. You have the usual Forex trading options along with gold, oil, stocks, indexes and CFD’s. You also have the possibility to trade with cryptocurrencies which are the nice addition that many other brokers don’t offer. Fxnet has the ‘No Re-quote, No Rejection’ policy for all executions. The usual scalping and hedging features are available. The site also provides support for people with Islamic beliefs where the account is following the Sharia law requirements. The online trading platform offers three types of accounts “The Standard”,“VIP” and ”Platinum”. These three options are pretty much usual for all companies in the industry. Fxnet offers the opportunity to trade for from 0.1 lots to 20 lots which are quite remarkable. Trading currencies pairs are 48, 18 of which are unique. Trading times are the industry’s standard 24/5. To make the experience even better you can connect to your account with your mobile device and continue trading while away from home.

 

Trading Platforms

Providing their clients with full-time access and tons of features is the main goal for Fxnet’s employees. That’s why they have made five different platforms available for their users. The trusty and stable Metatrader4 platform are used in their FXnet MT4 desktop, Simpletrader, and Webtrader platforms. The desktop variant is pretty much self-explanatory, it’s the main platform that the traders use while at home or their office. The Simpletrader is a simplified version of the MT4 where beginners can learn the basics and master the charts and other important tools.  The Fxnet MT4 webtrader is a platform that doesn’t need additional installation or download and can be used with any browser by just logging in. Fxnet Mobile trading platform is the best choice for people who travel a lot and can’t be at their desktop computers all the times. It offers all the important tools you need to get your work done with a few clicks. Finally, there is the ZuluTrade platform where all traders can share information about the markets and charts. It’s a valuable learning tool for traders who are looking to expand their knowledge about Forex trading.

Security and Customer Services

Security at Fxnet is top notch and shows how much the company values their clients. There is an SSL encryption on the site which protects the user’s personal data. Company’s and client’s funds are kept in different accounts. The company also offers Negative Balance Protection to protect customers from losing more than they have invested. To serve the deposits, Fxnet uses only top tier banks like Barclays. As far as customer service is concerned there are tons of ways to contact the company’s representatives. There is email, phone, Live Chat and even Skype, which is not offered by many of their competitors. Support is available in more than six languages including Arabic.  Also, the site offers a ton of educational material for beginner traders who like to get involved in the trading business faster. The website can be translated into eight languages.

 

Deposits and Withdraws

Depositing money into your Fxnet account is very easy. You can choose from a wide variety of banking methods with e-wallets also made available. If you choose another banking method that is not available on their list, you can send an email and ask the representatives about it. Minimum deposit is set to $50 which is quite low for the industry. You can choose from six account currencies that suit your needs. There are no fees for deposits or withdrawals. However, FXnet has reserved its right to make Bank Wire the only withdrawal method if there are circumstances that are against their policy. Withdrawal processing times are from instant to 3-5 working days. Usually, they are pretty fast are done in about 48 hours.

 

Deposit Bonus and Loyalty Programs

Currently, Fxnet offers two types of bonuses. The first one is a 50% margin bonus and the second one is the 15% rescue bonus. Another great promotion is the “Expert Advisor demo account” where you can win a $5000 prize without risking any of your funds.

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