FxNet Review for 2019

FxNet Rated 4/5

FxNet Introduction

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.

Open FxNet's Website

As with any investment your capital is at risk, losses can exceed deposits.

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 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 7 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, 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

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

What we like

  • Used by over 10,000 traders
  • Established in 2012
  • Regulated by Financial Conduct Authority, CySEC
  • Min. deposit from $50

What we don't like

FxNet General Fees

  • FxNet withdrawal fees varies on payment method
  • FxNet doesn't charge inactivity fees

FxNet Commissions

  • FxNet does charge commission on CFD shares

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 Interactive Brokers and XTB below.

FX / Currencies FxNet IB XTB
# of forex pairs offered 15 10 50
Major forex pairs Yes Yes Yes
Minor forex pairs Yes
Exotic forex pairs Yes
Cryptocurrencies No No Yes
Commodity CFDs FxNet Interactive Brokers XTB
# of commodities offered 0
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural Yes Yes Yes
Indiced & Stock CFDs FxNet Interactive Brokers XTB
# of Stocks offered 1500
UK Shares Yes Yes Yes
US Shares Yes Yes Yes
German Shares Yes Yes Yes
Japanese Shares Yes Yes Yes
FxNet's
Instruments
IB's
Instruments
XTB's
Instruments

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
  • 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

What funding methods do FxNet accept?

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

  • Credit cards
  • Bank Transfer
  • Neteller

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, but as a guide, FxNet offer margin up to 1% on currencies.

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.

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, phone and email support.

What you will need to open an account with FxNet

As FxNet is regulated by Financial Conduct Authority, 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.

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 below funding payment methods accept Credit cards, Bank Transfers, Neteller, among other payment methods. Learn more here

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, 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.