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Forex Broker FXNet

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Review of the broker FXNet

FXNet-Forex Broker Review

FXNet is a regulated Forex broker founded in 2012 (it is regulated by CySEC of Cyprus) which offers many financial assets to trade in the market including currrency pairs (spot Forex) and Contracts For Difference based on commodities and indices. It is a NDD/STP broker through which the traders has direct market access thanks to the liquidity providers of FXNet among which there are global banks.


Type of broker

FXNet is a Non Dealing Desk broker.


Regulation

This broker is regulated by CySEC (Cyprus Securities and Exchange Commission) of Cyprus, under license no. 182/12.


Country of origin

The headquarters of FXNet are located in Limassol, Cypruss.


Trading Instruments

The clients of FXNet have the possibility to trade in the market with the following financial assets:

  • Forex Market: 25 currency pairs in the spot market, including the most important like the EUR/USD, GBP/USD and USD/JPY and other more exotic (minor currency pairs) like the GBP/NZD and AUD/NZD.
  • Commodities: Gold and Silver in the spot market.
  • Contracts For Difference: CFD based on the following assets:
    • Gold, silver and USOil.
    • 8 stock indices including the S&P 500, Dow Jones, FTSE 100 and Nikkei 225 among others.

Trading Accounts

FXNet offers various types of trading accounts with the following features:

  • Standard Account: This is the regular trading account of FXNet and is designed for regular retail traders. It requires a minimum deposit of $5.This account offers many services including telephone trading, mobile trading, fifth decimal prices and a deposit bonus up to %50. Through this account FXNet offers fixes spreads from 2.8 pips, a maximum leverage up to 1:500 and a minimum lot size of 0.01 lots.
  • VIP Account: This is a trading account of FXNet designed for profesional  traders and big investors. It requires a minimum deposit of $10000.This account offers many services including 24 hours dealing support, telephone trading, mobile trading, fifth decimal prices and a deposit bonus up to %50. Through this account FXNet offers fixes spreads from 2.3 pips, a maximum leverage up to 1:200 and a minimum lot size of 0.1 lots.
  • Corporate Account: It is a special type of account designed for entities and big investors interested in the financial markets.
  • MAM Accounts: Multi Account Management refers to the trading of many MT4 accounts (referred to as sub accounts) from the one account (the master account).

*For all these accounts there is a swap free version.

*FxNet follows a Straight Through Process Execution for all of its accounts.


Demo Account

Yes, with no limit of time. 


Trading Platforms

This broker offers the following types of trading platforms: 

  • FXNet MT4 Desktop: This is a downloadable trading platform based on Metatrader 4, one of the leading applications of its type in the Forex sector thanks to its many trading tools such as updated quotes, advanced price charts with multiple time frames and many built-in technical indicators. Also, the trader can design, evaluate and implement automated trading systems (Expert Advisors) and customized indicators.
  • FXNet MT4 SimpleTrader: This is a web based trading platform (no download is required) which allows to access the account and trade in the market from anyplace with internet connection. This application includes features like one click trading, technical analysis tools, chart trading, an user friendly interface and position management tools
  • FXNet MT4 Webtrader: It is another web based trading platform which is connected with the MT4 platform under the 1 account and offers many trading features like one click trading, technical analysis tools, chart trading, an user friendly interface and position management tools
  • FXNet MAM: It is a trading platform based on MT4 that allows to manage multiple accounts from one MT4 account. This application is designed for Fund Managers, portfolio managers and clients with multiple accounts. In this case the traders have control over their sub-accounts simultaneously and have access to many solutions  as to how trades and funds may be allocated to sub accounts.
  • 3 Trading platforms for mobile devices: FXNet offers three trading platforms designed specifically for movile devices like smartphones and other:
    • FXNet MT4 Droid/
    • FXNet MT4 iPhone/iPAD
    • FXNet Mobile

Payment Options

The options offered by FXNet to deposit and withdrawl include Bank Wire Transfer, Credit Card, Skrill (Moneybookers), Webmoney, Neteller, Wester Union and UKash.

The deposits can be made in USD,EUR,GBP,JPY,CHF,AUD.


Main Advantages of FXNet

  • FXNet is a Forex broker authorized and regulated by CySEC in Cyprus.
  • This broker offers regular promotion for new and regular clients including cash bonus on every deposit.
  • It uses the Metatrader 4 trading platform.
  • FXNet allows the use of automated trading strategies through the Metatrader 4 platform (Expert Advisors) in any of its trading accounts.
  • FXNet provides a Straight Through Process Execution for all of its trading accounts. That means that every trade is always matched by FxNet and is always processed on for Execution.
  • FXNet offers a good customer support via email, live chat in the company´s website and via telephone.
  • A complete and updated economic calendar which includes major developments and economic indicators that can affect the markets along with a forecast and past performance data produced by these indicators.
  • FXNet provides basic Forex education in its website including video tutorial.
  • The clients have access to various trading platforms for mobile devices.
  • FXNet offers the possibility to earn money by promoting its services as a broker to an affiliate program of its property. 

FXNet Promotions 

FXNet offers regular bonuses for new and regular customers with a trading account:

  • A 50% bonus for all deposits made by the client, including new and additional deposits.

Other categories of this broker

  • Metatrader 4 broker.
  • Oil broker.
  • Gold broker.
  • Silver broker.
  • Regulated broker.

 

Company

FXNet Ltd is a fully licensed Over the Counter (OTC) online Forex and commodities broker.

Minimum account size

$5

Minimum lot size

0.01 lot.

Maximum Leverage

1:500

Spreads

  • Fixed spreads from 2.3 pips for the major currency pairs like the EUR/USD.

Link to the website

Open an account

 


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