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.
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 platformsFxNet 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 not quite right?
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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.