FxNet Review 2020

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.

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.

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.

FxNet review written by Andrew Blumer and Mark Hansen