Without any names provided, it means you are dealing with an anonymous investment platform. Unfortunately, there are huge risks that come with anonymity. One of them is no way of recovering funds once the platform blocks withdrawals. city index review Thankfully, the Forex market is pretty competitive and has a lot of reliable brokerage companies that can offer you something more valuable. We advise you to check out XM Group, which offers a generous $30 bonus for free.

Some brokers have one great feature that sets it apart from other brokers. FxNet has many features but most of them are quite standard. This doesn’t distract, however, from the broker offering high quality service and support and a website that is easy to navigate and user-friendly. The MetaTrader4 platform is offered in several different varieties and this helps to attract Forex traders with all levels of trading experience. FXNet also offer a demo account which gives newcomers the perfect opportunity for some practice, and also allow them to get a real feel for their services, rather than just reading what someone has said. $100,000 of free trading credit is available and there is no time limit.

This methodology considers over 200 criteria points, covering the categories of safety, fees, platforms, products, payments and customer support. We update this methodology and our recommended reviews yearly, so that you’re only given up to date information. All traders need to get started with is an internet connection and a FxNet trading account. As FxNet’s WebTrader is a web-based trading platform, you do not need to download any software either.

fxnet review

The company’s team claims their aim is to create and maintain safe and reliable relationships with customers ensuring them that they are also part of the FxNet team. The company is managed by investment professionals with thorough experience within the financial industry. FxNet is proud to be one of the few true STP companies, which is fully licensed and regulated. FxNet offers STP accounts for all clients, as well as accounts starting from 0 Pips.

Questions? Get answers from the FXNet staff and other customers

Since the platform has a U.S address, they should get a license from the NFA or SEC. Withdrawing funds is a significant problem for investors. But, unfortunately, none has made it this far for the last couple of months. And this is another reason we believe CySEC revoked their license.

At FxNet, traders can choose several different ebooks for guidance and a more comprehensive understanding of Forex and the list is always changing so traders can benefit from these ebooks on a continuous basis. FxNet is a member of Investor Compensation Fund that covers client deposits up to a maximum of Euros 20,000. FxNet is regulated by Cyprus Securities and Exchange Commission and has a good rating for security and reliability of deposited funds. Review details of the license, registration and regulation of this FX broker can be found on the brokers’ website.

This company represents diverse, modern and cutting edge trading platforms to cover all trading expectations; MetaTrader 4, MT4 Multi Terminal, MAM and Mobile platforms. You should consider whether you can afford to take the high risk of losing your money. On the Platinum account, a commission of 1.2 pips is charged for each closed lot, which is an option for professional traders. On the Standard Account spreads are 2.3 pips, on the VIP account 1.9 pips, and none on the Platinum account. FxNet offers flexible leverage, a choice between accounts, guarantees based on regulations, as well as various assets to trade with. Potential traders need to be assured that the broker company they choose can offer the necessary support and help whenever they may need it.

FxNet places all funds in a segregated tier 1 bank account. Your money is not held by FxNet directly but a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money.

History of the Broker

You can see independent reviews on platforms such as TrustPilot. The platform tries to sell itself as a successful investment platform. For those new at trading, most regulators have listed $250 as the acceptable minimum deposit. With FX Net, we don’t know their acceptable minimum deposit. We also don’t see the leverage and spreads available on the platform. That way, you will have prior information on which platform works better for you.

As a broker operating in 100 countries, it is no surprise that FXNet offers a long list of deposit and withdrawal methods. The funding options allowed are wire transfer, credit cards, UnionPay, Qiwi, Fastbank, Neteller, WebMoney, and Skrill. When we look at FXNet and what the broker has accomplished we would automatically say that this is a broker who has been in business for very long. But, as a matter of fact, this broker was founded in 2012 and operates, meanwhile, in more than hundred countries.

FxNET – a broker providing online trading services for Forex and CFD. There are three FxNet accounts offered to both individual and corporate customers. As you climb the record levels, the base store rises while spreads fix and client assistance improves. Standard records get a base spread of 2.2 pips on the EUR/GBP, 1.8 pips on the EUR/USD, and 2.1 pips on the GBP/USD. With the Platinum account, spreads start at 0.2 pips on the EUR/GBP and 0 pips on both the EUR/USD and GBP/USD.

FxNet acknowledges brokers from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, United Arab Emirates, Saudi Arabia, Kuwait, Qatar, and most different nations. We might want to see the specialist increment its scope of learning devices for more current brokers. These trades are variable, and subtleties can be found on the site. The organization gives financial trading administrations to nations outside of the European Economic Area. FxNet holds a permit with the International Financial Services Commission . When you need the highest level of accuracy for expert witness or ediscovery, turn to cyber-forensics.net.

fxnet review

The platform is still using the same name to try and lure naïve investors. FX Net is trying to ride on their old reputation when they had a CySEC license. FXNet has a consumer rating of 1 star from 3 reviews indicating that most customers are generally dissatisfied with their purchases. Secondly, as we already mentioned, there is no FxNet No Deposit Bonus available. They either close your account if you claim it or give you this bonus but you will not be able to withdraw anything. So, withdrawing the amount of bonus or the profits made from it is impossible.

Are Funds Safe with FxNet ?

Any gadget with Android 4.0, iOS 5.1.1, or above can download the portable stage for nothing. The application has one-touch trading, three graph types, and more than 30 specialized pointers incorporated into a smooth, natural interface. With such lack of information and FxNet being offshore, funds are not safe. Security of funds is a huge problem with offshore brokers. A red flag that we noticed is FxNet is withholding vital information to users. Problem with offshore brokers is that they are not reliable and abuse the regulations.

Typical Spread on Majors

Author at Scamrecovery.net Brandon Linton has spent the last 2 years writing financial reviews. By putting together a compelling chargeback strategy from beginning to end, victims of online fraud have a relatively high probability of recovering some of all of their funds lost. The team at MyChargeBack – a specialist group dedicated to helping consumers recover funds lost online – is available 24/7 and has helped consumers all over the world recoup millions of dollars. Mistakes can happen even with the most cautious of investors, and should be used as a learning opportunity. Be careful and verify your information through multiple sources. Constant vigilance should be applied at all times when sending money online.


It likewise offers 30 investigation devices, 50 customizable markers, and a nine-course of events decisions. FxNet offers trading through MT4 in different monetary instruments, including forex. This survey investigates stage downloads, least stores, how to pull out cash, spreads, and the sky is the limit from there. Facts & Figures FxNet is an online forex broker regulated by the IFSC and offering the MT4 platform. Don’t be fooled by the testimony you see on the homepage.

FxNet Ltd is a global, fully licensed Over the Counter online Forex and commodities broker, regulated by the Cyprus Securities and Exchange Commission . FxNet Ltd is a global, fully licensed Over the Counter online Forex and commodities broker, regulated by the CySEC. The broker provides This trading platform MetaTrader 4 can be downloaded from the broker’s website.

Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. Licensed and regulated by CySEC, FXNet are a company that offers online trading services from its headquarters in Limassol, Cyprus.

Fx Net does not include any information on the available accounts or packages. As a result, members are signing up blindly, not knowing the account features. And this comes at a considerable cost as the platform quickly takes advantage spreadex review of it. When a reputable regulatory body revokes your license, there’s no coming back from it. And this goes to show how members were treated on the platform. With a cloned website, it goes to show the lack of originality.

Regulation & Company Information

Execution time is one of the fastest available, with an average of 2-5ms. FxNet, being a true STP broker, has no conflict of interest with its clients and therefore strives to offer the best trading experience to forex traders. DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here.

Compare broker See what benefits one offers over the other. Find Your Broker We helped new traders to find their path. Traders must use the same currency when depositing or withdrawing money and third parties are not accepted for any transactions. If FxNet’s website itself does not provide enough means, a trader should explore other informative websites and means to obtain that knowledge.

Execution-only brokers, that is a broker that is not involved in any personal investment advice and gives traders complete control over how they trade the markets, tend to have lower commissions. 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 model. You won’t get to withdraw funds or even enjoy insurance cover. Without any regulatory framework, it means there’s no safety net. In addition, all the deposits go to a single bank account instead of segregated accounts.

The lowest deposit requirements in the world of online trading won’t stop your money being at risk. However, you can have the best of both worlds, so keep reading and we’ll tell you more about FXNet. MT4 has powerful charting features and many add-ons that enhance trading analysis and execution of orders. It is developed to provide traders with easy access to the most dynamic financial markets and is simple enough for novice traders to get started with.

LMFX – LMFX offers online forex and stock trading with low charges and significant influence. Trading administrations are accessible when the business sectors are open, and the stage is as yet available for stock trading classes Account the board outside of stock market working hours. Forex usually is tradeable 24 hours every day, Monday through Friday. Anyway, different instruments change contingent upon their business sectors.

We welcome everyone back and hope we can give you a new experience as we are happy to speak with first timers and introduce you to our company. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive commission from the companies we feature on this site. C) There is a forex glossary so newbie traders can get acquainted with forex terminology.

There are no restrictions on trading with MT4’s iPhone and iPad app, allowing the trader to carry the platform everywhere. The app offers fully functional trading and management of trading accounts as well as all important technical analysis tools. FxNet provides its clients with the industry’s most reputable, award winning and sought after forex and CFDs platforms – Metatrader 4 . Access all the dynamic FxNet trading instruments under the same account from multiple platforms.

The same can be said for the MT4 Android platform that allows traders to download MT4 on android smartphones and tablets. FxNet clients can choose from a wide variety of online funding methods in addition to Bank Wire and Credit Card transfers including Skrill, Neteller, CashU and others. If a preferred funding method is not yet available, a request for a new funding method will be considered. A nice feature seldom found on the sites of other brokers is a world clock which shows real times in New York, London, Tokyo and Moscow.