FxNet Review Is Fxnet.com A Legit Broker

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FxNet Review

FxNet

Leverage: 1:30

Regulation: CySEC, IFSC

Min. Deposit: 50 US$

HQ: Cyprus

Platforms: MT4

Found in: 2020

FxNet licenses:

  • FxNet Ltd – authorized by CySEC (Cyprus) registration no. 182/12
  • BelFX Limited – authorized by IFSC (Belize) registration no. IFSC/60/260/TS/17

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Within FxNet Review among numerous others, we cover the most important information trading offering is consisted of. Therefore, you may make a wiser decision and choose a reliable broker to trade with.

What is FxNet?

FxNet is a brokerage firm established as a Cyprus Broker acquired over a decade in the financial investment industry, as well as based on the knowledge and professionalism approach.

Being an STP broker you will trade through a Market Execution also provided with competitive pricing, with no restrictions on strategies while broker keeping a high level of customer service and supporting its clients.

Along with an offered powerful execution and connection to the market through liquidity providers, there is an exposure to various markets including Currencies, Metals, Shares, Bonds, Commodities and Indices.

However, there are no comprehensive educational materials, just trading information with economic calendars, news feed and other essential data. So beginning traders better to find another source of learning, yet there are good conditions for starting with FxNet, so it might be an option too.

Nevertheless, to understand offering in a detail you should always check the most important information of the broker’s proposal. In this purpose this review covers the following highlights:

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Is FxNet safe or a scam?

FxNet as a Cyprus investment firm therefore, operates under CySEC license which is being a part of European Union legislation that complies fully with MiFID regulatory directive active within the EEA zone. Also, FxNet serves additional entities through offshore zone Belize, so the company getting global exposure as well. Nevertheless, we would recommend trading with the Cyprus entity only due to its regulatory obligations and coverage of the client complains in any unlikely scenario or experience with FxNet.

So due to its regulated nature, it is considered safe to trade with FxNet as its operational standards are set according to the requirements along with the client protection with money segregation and participation in investor compensation schemes.

FxNet Trading Platforms

As for the trading platforms, FxNet made a decision to mainstay on MetaTrader4 an industry-leading software that is actually the most regarded and used platform. MT4 provided through a variety of applications that gives access to trading through any device so you will stay in control at any time.

Also, FxNet does not restrict the use of some specific strategies, so there is an option to deploy trading style as you wish either manual or automatic through EAs. MetaTrader is known for its powerful charting features, as well as numerous add-ons that enhance trading analysis and execution of orders.

In addition, FxNet added extra benefit though its truly well-managed access to markets by the use of numerous liquidity providers along with competitive pricing which we will cover further.

What are FxNet Costs and Fees?

There are three account types offered by the FxNet so either you are a beginner or professional trader there is a suitable account for you. Also, there is Islamic Account offering suitable for those who follow Sharia laws and available for day trading and specified conditions.

FxNet spread

FxNet spread is based on tight variable spreads, which is defined by the account type as well. Standard account has slightly higher ratios, where spreads starting from 2.3 pips, and VIP Account has lower charges of spreads from 1.9 pips. Premium account features 0 spread plus the commission charge of 1.2 pips per each closed lot, which is an option for professional traders. See some of the examples you may see below for a better understanding of costs, which is considered as average rate compared to industry offerings, as well you may see fees of another broker Exness.

Also, always consider FxNet rollover or overnight fee as a cost, which is charged on the positions held longer than a day. Each instrument charges different quote for overnight positions, you also may see some swap examples above.

FxNet Leverage

The maximum leverage FxNet offers is a maximum of 1:500, which is available only while trading with an offshore entity of FxNet. Otherwise and in case you are EU resident automatically you will fall under regulatory restriction where lowered ratios may be used for retail traders, alike 1:30 for major currencies, 1:20 for minor ones and 1:10 for commodities. It will also depend on your trading knowledge, since professionals by confirming its status may access higher ratios for speculative products.

And of course, always learn how to use leverage correctly, as leverage may increase your potential loses as well and is a different feature in various instruments.

What Payment Methods FxNet offers?

The last point of FxNet Review is payment methods or how exactly you may transfer funds to or from the account. Actually, FxNet offers a truly diverse range of payment options so you will definitely find the one suitable for you. These methods including Card Payments, Bank Wire, e-wallets, WebMoney, Turstly, iDeal, Przelewy24 and more.

FxNet Minimum deposit

As usual it happens minimum deposit defined by the account type you are going to trade through, while the very minimum is only 50$ according to Standard Account. VIP account and Platinum will need much higher deposits 10k$ and 25k$ respectively in reverse giving extra benefits to its holders.

FxNet withdrawal fee

As for the fee policies, each method has its own defined charges considered as payment provider fees. So while depositing or withdrawing money make sure to check on necessary fees, some examples of fees you may see above and for other methods consult customer service or see brokers’ website.

Conclusion on FxNet

What we do like within FxNet Review and offering is flexibility over the trading process you may get, covering flexible leverage, a choice between accounts, guarantees based on regulations, as well as various assets to trade. The trading costs considered among regular compared to other brokers, while professionals may maximize strategy with raw spread and commission per charge. So overall, the trader of any size or portfolio may find its way with FxNet.

Yet, we would be glad to know your personal opinion about FxNet, you may share your experience in the comment area below, or ask us for some additional information if required.

FxNet Review: Is Fxnet.com A Legit Broker?

Fxnet.com Review: this is the website of a Forex broker that is located in Cyprus and it offers CFDs trading. Is it safe to invest funds in FxNet? Read this revealing review to find out important details about this Forex trading company.

The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.

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FxNet is owned by FxNet Limited and the company is headquartered in Cyprus. Forex trading in this region is under the regulation of the Cyprus Securities and Exchange Commission (CySEC). When we checked the online register, we found that FxNet Limited is truly licensed by it and the broker is listed as one of its subsidiaries.

This is a major advantage for the brokerage because trading with a Forex broker that is licensed reduces many dangers to traders’ funds. Misappropriated funds can be recoverable by the government as well. Licensed brokerages are under many rules of trade and this gives traders a level of assurance.

Advantages of FxNet

Fx Net offers traders an impressive portfolio of trading instruments containing the major assets. The trading conditions clients of the broker will be placed under is one of the best and the trading platform is top-notch. A Demo account is also allowed for traders to be sure they can make a profit with this broker before trading with real funds.

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

FxNet Trading Platform

FXNet gives traders access to the MT4 and some web-based trading platforms. We advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating systems. All can be used on desktops, Linus, Windows, iOS, and Android.

Tools that come with these trading platforms are also found to be useful for traders. It has proven to be user-friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are major and minor forex pairs, metals, energies, commodities, equity indices, bonds, and shares. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

The maximum leverage offered to clients is 1:500 and while this may seem generous, it is not advisable. High leverages can lead to a huge loss of funds as well. Spreads on the standard account are from 2.3 pips.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on FxNet

The means of making deposits and withdrawals with this broker are VISA, MasterCard, Bank Wire, Neteller, Qiwi, China UnionPay, WebMoney, FastBank, Przelewy, and Skrill. We find it encouraging that e-wallets are allowed for transactions.

This is because standard and legit brokers make deposits and withdrawals available via Visa, MasterCard, and Wire Transfer. Many offer e-wallets like Skrill, Neteller, UnionPay, FasaPay, and so on.

The minimum deposit required is $50 and this is within the obtainable average of $100 to $250 usually required by many other brokers. Withdrawal fees are not mentioned and this may be because they do not apply. However, we will appreciate it if this is stated.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Negative Reviews

During our investigation, we found many negative reviews on the Forex Peace Army website regarding this broker.

Although a representative of the broker responded to a few of them, the issues have not been resolved at this time. We think it is vital for traders to be aware of this.

Is FxNet Licensed?

Yes. FxNet is a properly licensed and registered Forex brokerage. It is authorized to trade by the Cyprus Securities and Exchange Commission (CySEC) under the company name, GBE Group.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

To contact the broker or a representative of the customer support service, call +357 25 108 111 or email [email protected] There are other methods of making contact listed on the page, including an online message form.

Conclusion

FxNet gets a high rating because it is properly licensed and the trading conditions are good. The only discouraging thing we find is that the spreads used on the standard account are high. Other details like minimum deposit, trading platform, and leverage is enticing. The negative reviews we found concerning this broker taints its image.

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Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

FxNet.com Review Visit site

About FxNet.com

FX Net is a forex broker. FX Net offers the MetaTrader 4 and MT Mobile online forex trading top platforms. FXNet.com offers over 20 currency pairs, metals, stocks, oil, and indices for your personal investment and trading options.

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FxNet.com profile provided by FXNet, Dec 22, 2020

FxNet Ltd is an Investment Firm with registration number HE 300624, and is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under licence no. 182/12. As a CySEC regulated firm governed by MiFID, FxNet offers the advantage of safe monitored trading with no possibility of fraud. FxNet clients are all ensured by the Investors Compensation Fund (ICF), which guarantees the return of funds in the rare case of the company’s insolvency.

There is nothing more important than actual trading and FxNet offers traders a wide variety of trading accounts to suit a wide range of trading needs, which is all done through the STP (Straight Through Processing) model.

FXNET ACCOUNT TYPES

FXNET TRADING PLATFORMS

• MetaTrader 4 for Desktop

• MetaTrader 4 for iPhone/iPad

• MetaTrader 4 for Android

FxNet offers excellent trading conditions allowing more flexible and successful trading, including the following advantages:

• No re-quotes, no rejections

• Negative balance protection

• Flexible leverage up to 1:500

• Hedging, Scalping and News Trading Permitted

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