FxNet Review 2020

FxNet Rated 3/5
learn more Learn more about eToro. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

FxNet Guide

FxNet are an online broker founded in 2012 offering Forex trading.

FxNet are a global broker and have a head office in Cyprus.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of FxNet we break down the pros and cons. What FxNet are able to offer, what countries FxNet are available in. Who FxNet are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

Benefits of trading with FxNet

  • Regulated by: Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC)
  • Headquarters Country : Cyprus
  • Foundation year 2012
  • Min Deposit : 50
  • Used by over 10,000 traders
  • FxNet is not available in the following countries : CO, JP, Quebec, Saskatchewan,US
Open FxNet's Website

Your capital is at risk

At the bottom of this review you can also learn about some pretty good alternatives to FxNet

With this review we hope to help you see if FxNet is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding FxNet that will help you get off to a good start in the world of online trading.

FxNet Review Table of Contents

FxNet what you should know

FxNet offer one way to trade: Forex.

With FxNet you will need a minimum deposit of $50. You can sign up for a demo account to acquaint yourself with FxNet platform.

FxNet are able to accommodate various levels of traders whether you are experienced or a beginner.


Are FxNet safe?

When choosing a broker like FxNet the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2012, and in operation for 8 years FxNet have a head office in Cyprus.

FxNet is regulated. This means FxNet are supervised by and is checked for conduct by the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to FxNet, this will be honored. If FxNet violate any regulatory rules their regulated status could be stripped.

Any payments funded to FxNet accounts by traders are held in a segregated bank account.

For added security FxNet use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Try creating two accounts when you are working with FxNet. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit FxNet

Your capital is at risk

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

Broker FxNet eToro XTB Pepperstone
Year Established 2012 2006 2002 2010
Head Office Cyprus Cyprus, UK Poland Australia
Regulation Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC)
Used By 10,000+ 10,000+ 250,000+ 10,000+
Negative balance protection Yes No Yes Yes
Guaranteed Stop Loss No No Yes No
Learn More Visit FxNet Visit eToro Visit XTB Visit Pepperstone
Risk Warning Your capital is at risk 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Your capital is at risk CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

FxNet Pros and Cons

What we like about FxNet

  • Used by over 10,000 traders
  • Established in 2012
  • Regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC)
  • Min. deposit from $50

What we don't like about FxNet

FxNet Financial Regulation and Supervision in more detail

We have checked and FxNet is regulated and supervised by reputable organisations. You are able to check every FxNet supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with FxNet. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect FxNet traders and provide a safe trading environment.

FxNet is governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as FxNet you should be sure they're legitimate online agent.

FxNet General Fees

  • FxNet withdrawal fees varies on payment method
  • FxNet doesn't charge inactivity fees
  • FxNet does charge deposit fees
Broker FxNet eToro XTB Pepperstone
Min Deposit 50 200 0 200
Withdrawl Fees Yes Yes varies No
Inactivity Fees No Yes No Yes
Deposit Fees Yes No No No
CFD Commission Fees Yes No Yes Yes

FxNet Commissions

  • FxNet does charge commission on CFD instruments.

What can you trade with FxNet?

You can trade a wide variety of instruments with FxNet over 100 instruments infact.

If you are looking at trading currency pairs FxNet offer over 15 currency pairs.

Compare FxNet with eToro and XTB below.

Your capital is at risk

Broker FxNet eToro XTB Pepperstone
Instruments Available 100 100 1,500 100
Platforms MT4, Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps MT4, Mirror Trader, Web Trader, Tablet & Mobile apps MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps
FX / Currencies Visit FxNet Visit eToro Visit XTB Visit Pepperstone
Forex pairs offered 15 50 50 70
Major forex pairs Yes Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies No Yes Yes Yes
Commodity CFDs Visit FxNet Visit eToro Visit XTB Visit Pepperstone
Commodities Offered 0 0 21 16
Metals Yes Yes Yes Yes
Energies Yes Yes Yes Yes
Agricultural Yes Yes Yes No
Indiced & Stock CFDs Visit FxNet Visit eToro Visit XTB Visit Pepperstone
Stocks Offered 957 1696 60
UK Shares Yes Yes Yes No
US Shares Yes Yes Yes No
German Shares Yes Yes Yes Yes
Japanese Shares Yes Yes Yes No

Trading on FxNet web platforms and other applications

FxNet offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

FxNet also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you’re on the move.

See FxNet's platforms

FxNet Trading benefits :

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection

FxNet Trading Accounts Offered :

  • Demo account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • STP account
  • Managed account
  • Islamic account

Can I try FxNet before I buy?

FxNet offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

FxNet withdrawl and funding methods.

FxNet offer the below funding payment methods. learn more about FxNet

  • Credit cards
  • Bank Transfer
  • Neteller
  • UnionPay
Broker FxNet eToro XTB Pepperstone
Bank transfer Yes Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes Yes Yes
Skrill No Yes Yes Yes
Payoneer Yes Yes Yes
Neteller Yes Yes Yes Yes

How can I start trading with FxNet?

When opening a trading account with FxNet, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on FxNet trading platforms here.

Performing trades with FxNet

FxNet allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As FxNet offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you‘re paying to execute your trades.

As a nice bonus, FxNet are one of very few brokers that claim to have no requotes, so you don't have to worry about slippage (your trades being ordered at a different price to what you executed them at).

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments.

FxNet also offers a number of useful risk management features, such as stop losses (with trailing stops), limit orders, negative balance protection, price alerts, and much more. You can see all of the account features offered by FxNet here.

FxNet Leverage and FxNet CFDs Explained

let's take a look at some of the basics of using FxNet leverage.

FxNet offer CFD are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

FxNet leverage magnifies both profits and losses when trading.

Let's say for example you buy ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the FxNet trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The FxNet leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

FxNet CFDs are typically used for short to medium term trades. For example FxNet intraday trading.

Limiting Your Risk When Trading with FxNet Negative Balance Protection

We should say something about negative balance protection with FxNet. When trading using leverage an adverse move could result in losing more than your trading account balance at FxNet. Your FxNet account could potentially become negative. We recommend you making use of negative balance protection. Using negative balance protection ensures your losses will always be limited to the current balance of the money in your account.

Limit Risk When Trading with FxNet Stop Loss, FxNet Stop Limit Orders

A stop-loss order is an order placed with a broker like FxNet to buy or sell once the stock reaches a certain price. A stop-loss is designed to limit a traders loss on a security position.

Most traders need to use stop losses to protect themselves from huge risk unless the trade is hedged against another trade or the trader is not using leverage. Circumstances differ depending on the trade and the markets.

Education resources at FxNet

To trade effectively with FxNet, it's important to get a have a good understanding of the FxNet trading tools and the markets.

FxNet offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with FxNet.

Take time to look around the FxNet platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at FxNet

FxNet support a wide range of languages including Arabic, Chinese, Croatian, Czech,English,Greek,Hungarian.Japanese,Persian,Polish, Romanian,Russian,Slovak,Spanish,Vietnamese

FxNet have a triple AAA grade support rating because they offer a wide range of languages, live chat, email and phone support.

FxNet customer service support multiple languages from all over the world. Having a broker that can hire people from various locations in the world who can better communicate with you in your local language is a huge advantage well trying to deal with issues.

Livechat Support at FxNet

We tested the FxNet live chat and it works well. We sent messages to FxNet livechat through their app and website and recieved a response within 3 minutes.

We tested communicating with FxNet support in multiple languages in multiple countries. FxNet where able to quickly resolve our customer issues.

Email Support at FxNet

We sent several emails to FxNet and answer times overall were excellent. The fastest response from FxNet was less than 2 minutes and the slowest response was 3 hours. Support response times may vary for you with FxNet, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall very good email support from FxNet.

Phone Support at FxNet

We called FxNet and the call was answered very quickly. The call was answered in less than 1 minutes.

The FxNet phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual FxNet team by calling in varying languages. FxNet made an effort to make sure our queries were answered.

Overall great phone support from FxNet.

See how FxNet Support Compares Against Other Brokers

Broker FxNet eToro XTB Pepperstone
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages Arabic, Chinese, Croatian, Czech,English,Greek,Hungarian.Japanese,Persian,Polish, Romanian,Russian,Slovak,Spanish,Vietnamese English, German, Spanish, French, and Italian English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic
Learn More Visit FxNet Visit eToro Visit XTB Visit Pepperstone
Risk Warning Your capital is at risk 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Your capital is at risk CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

What you will need to open an account with FxNet

As FxNet is regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore FxNet's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with FxNet you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.fxnet.com/ on 12th August 2018.

Is FxNet A Good Broker?

We spent over 3 months examining FxNet in depth. Although we found some very useful aspects of the FxNet platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative FxNet broker.

  • FxNet have a good track record of offering Forex.
  • FxNet has a history of over 6 years.
  • FxNet has a reasonable sized customer support of at least 10.
  • FxNet are regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC). This means FxNet fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • FxNet have regulation from a Tier 1 reputable country.
  • FxNet has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • FxNet have an international presence in multiple countries. This includes local FxNet seminars and training.
  • FxNet are able to hire people from various locations in the world who can better communicate in your local language.

FxNet Risk Disclaimer

Your capital is at risk

FxNet not quite right?

Check out these FxNet Alternatives

We have spent years researching the best alternatives to FxNet. Click the links below to learn more.

If you feel some of the above FxNet are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of FxNet alternatives below.

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If you would like to see how FxNet stands up against other brokers you can read some of our FxNet comparisons below. We compare side by side some of our top rated FxNet versus comparisons. Read some indepth FxNet VS pages below.

FXNET Frequently Asked Questions

Can I try FxNet before I buy?

FxNet offer a demo account so you can try before you put down and payment. Learn more here

What funding methods do FxNet accept?

FxNet offer the following funding payment methods accept Credit cards, Bank Transfers, Neteller, Wire Transfer, among other payment methods.
Learn more here

Your capital is at risk

Is FxNet safe?

FxNet are considered safe as they are regulated by and checked for conduct by the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC). Any payments funded to FxNet accounts by traders are held in a segregated bank account. For added security FxNet use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Is FxNet trading good?

FxNet is considered good and reputable to trade with. FxNetFxNet is used by over FxNet active traders. FxNet offers Forex trading. Minimum deposit with FxNet is mindeposit.

Is FxNet trading Legit?

FxNet was founded in Cyprus in 2012. FxNet has been facilitating trade on the financial markets for over 8 years. FxNet offers clients Forex trading. All funds deposited to FxNet are held in segregated tier 1 bank accounts for security. FxNet is regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) so can be considered legit.

Is FxNet a good broker?

FxNet is overseen by the top tier financial regulators Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) so can be considered a good broker.FxNet allows Forex trading.

Is FxNet trustworthy broker?

FxNet can be considered trustworthy. All money funded to FxNet is placed into a segregated tier 1 bank account. this means your money in not held by FxNet directly but a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money. Also FxNet is regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC).

What is the minimum deposit for FxNet?

The minimum deposit to trade with FxNet is 50.

How long do FxNet withdrawals take?

Withdrawing money from FxNet processing time varies but averages 2-5 days.

Is FxNet regulated?

FxNet is regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC).

Is FxNet a market maker?

FxNet is a market maker. Stocks, currency and other commodities and instruments will be purchased by FxNet even if no buyer is lined up.

How can I start trading with FxNet?

When opening a trading account with FxNet, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on FxNet trading platforms here.

Is my money safe with FxNet?

FxNet is regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC). One of the most important criteria for traders when choosing a broker like FxNet is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to FxNet, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is FxNet a con?

FxNet is regulated and well established having been in business for over 8 years. FxNet is definitely not a con.

Can you make money with FxNet?

Although traders have had great success with FxNet. Trading on the financial markets with FxNet is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Never trade with money you cannot afford to lose. Your capital is at risk.

Does FxNet have fees?

FxNet withdrawal fees varies on payment method. FxNet doesn't charge inactivity fees. FxNet does charge deposit fees.

When was FxNet founded?

FxNet was founded in 2012.

How many people use FxNet?

FxNet is used by over 10000 registered traders.

What is FxNet Headquarters country?

FxNet has its head quarters office in Cyprus.

Does FxNet offer negative balance protection?

FxNet offers negative balance protection. With Negative balance protection means traders cannot lose more money than they have deposited.

Does FxNet offer guaranteed stop loss?

FxNet does not offer guaranteed stop loss. With guaranteed stop loss protection risk is managed. Traders are guarenteed to close your trade at your specified price.

Does FxNet allow scalping?

FxNet offers scalping.

Does FxNet allow hedging?

FxNet offers hedging.

Does FxNet offer CFD trading?

FxNet offers CFD trading.

Does FxNet offer STP?

FxNet offers STP trading.

How many people use FxNet?

FxNet is used by over 10000 traders.

Is FxNet an ECN broker?

FxNet offers ECN trading.

Does FxNet offer a demo account?

FxNet offers a demo account.

Does FxNet offer an Islamic account?

FxNet offers a Islamic accounts.

What are the funding methods for FxNet?

FxNet accept the following funding methods : Credit cards, Neteller, UnionPay, Bank Transfer.

FxNet review written by Andrew Blumer and Mark Hansen

We hope you found our review of the FxNet brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

FxNet review written by Mark Hansen of Comparebrokers.co