Overall, FxNet is a trustworthy broker to invest with and utilize its trading services. FxNet traders have a choice of three accounts and have a high overall rating of 7 out of 10.
FxNet at a Glance
| 🔎 Broker's Name | FxNet |
| 📍 Headquartered | Limassol, Cyprus. |
| 📅 Year Founded | 2012 |
| ⚖️ Regulating Authorities | CySEC, IFSC |
| 🌐 US Clients Accepted | Yes |
| ☪️ Islamic account (swap-free) | Yes |
| 👍 Demo Account | Yes |
| 📊 Institutional Accounts | No |
| 📊 Managed Accounts | Yes |
| 🚀 Sign up bonus | No |
| 📈 Maximum Leverage | 500:1 |
| 💰 Minimum Deposit | $50 / R 914,18 |
| 💳 Deposit Options | Visa, Mastercard, Bank Wire, e-wallets, Skrill, Neteller, WebMoney, Turstly, iDeal, Przelewy24. |
| 💳 Withdrawal Options | Visa, Mastercard, Bank Wire, e-wallets, Skrill, Neteller, WebMoney, Turstly, iDeal, Przelewy24. |
| 💻 Platform Types | MT4 |
| 📱 OS Compatibility | Web, desktop, iPhone, Android |
| 📈 Platform Languages | English, Arabic, Chinese, Vietnamese |
| 👨💼 Languages supported on Website | English, Arabic, Chinese, Vietnamese |
| 👥 Customer Support Languages | English, Arabic, Chinese, Vietnamese |
| 📆 Customer Service Hours | Monday-Friday 7:00-16.00 GMT |
| 👉 Open a account | Click Here |
Min Deposit
USD 50
Regulators
IFSC, CySEC
Trading Platform
MT4
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
FxNet Review – 19 key points quick overview:
FxNet Overview
According to research in South Africa, FxNet is a brokerage firm established in 2012 with its headquarters in Cyprus. It has over a decade of experience in the financial investment industry.
The FxNet.com domain is owned and operated by BelFX Limited which is an international Forex and CFD broker.
The Company has been created for traders by traders, which is why it offers unparalleled trading conditions designed to meet all realistic expectations of both professional and less experienced investors.
BelFx Limited is a limited liability company duly registered and existing under the laws of Belize with registration number 130266 and licensed by the International Financial Services Commission (“IFSC”) in Belize with license number IFSC/60/260/TS/17.
The mission of the company is to provide excellent trading conditions and to make sure that its clients are always the top priority.
As a company, it aspires to continue to improve its services, ensuring that it always maintains itself to the highest spectrum of customer satisfaction
FxNet Safety and Security
FxNet as a Cyprus investment firm operates under a CySEC license which is a part of European Union legislation that complies fully with MiFID regulatory directive active within the EEA zone.
FxNet also serves additional entities through the offshore zone Belize, so the company gets global exposure as well.
It is recommended to trade with the company due to its regulatory obligations and coverage of client complaints in any unlikely scenario or experience with FxNet.
It is considered safe to trade with FxNet as its operational standards are set according to the requirements along with client protection with money segregation and participation in investor compensation schemes.
All money funded to FxNet is placed into a segregated tier 1 bank account. This means your money is not held by FxNet directly but by a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money.
Min Deposit
USD 50
Regulators
IFSC, CySEC
Trading Platform
MT4
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
FxNet Leverage
The maximum leverage FxNet offers is 1:500, which is available only while trading with an offshore entity of FxNet.
If you are an EU resident you will automatically fall under regulatory restrictions where lowered ratios may be used for retail traders, like 1:30 for major currencies, 1:20 for minor ones, and 1:10 for commodities.
It will also depend on your trading knowledge, since professionals may access higher ratios for speculative products.
Always learn how to use leverage correctly, as leverage may increase your potential loses as well and is a different feature in various instruments.
FxNet Accounts
With FxNet traders have a choice of three accounts.
Standard account
| Spreads: From 2.3 pips |
| Minimum deposit: $50 / R 914,18 |
| Leverage: 1:1 – 1:500 |
| 24/5 Brokerage support: No |
| Commission: No |
VIP account
| Spreads: From 1.9 pips |
| Minimum deposit: $10 000 / R 182 760,00 |
| Leverage: 1:1 – 1:500 |
| 24/5 Brokerage support: No |
| Commission: No |
Platinum account
| Spreads: From 0 pips |
| Minimum deposit: $25 000 / R 456 857,50 |
| 24/5 Brokerage support: Yes |
| Commission: Yes |
All three accounts deal in currencies, commodities, indices, shares, and bonds and the account currency used is USD, EUD, and GBP. On all accounts, the stop-out is 50% and the margin call 70%. They all allow mobile trading on the MetaTrader4.
FxNet also has an Islamic Account which allows swap-free trading in compliance with the Sharia Law, which means traders can trade on an Islamic account without being charged overnight fees.
Islamic Account is completely swap-free for as long as the account is open and is only available for traders of the Muslim religion and should only be requested on the grounds of religious beliefs.
To open an Islamic Account, register with a real account
FxNet Market Instruments
Forex
Forex trading is the largest and fastest-growing industry with over 4 trillion dollars traded daily. With FxNet you get direct access to the forex market 24/5 and, for extra accuracy, prices of the currency pairs are quoted up to the fifth digit after the decimal point.
Commodities
With FxNet you have access to a variety of the most popular Commodities worldwide. This includes Energies, Grains, and Softs. It offers two popular ways to trade CFD Commodities: Cash CFDs and Futures.
Shares CFD
Share CFDs trading with FxNet allows you to access the world’s biggest companies, including Apple, eBay, Google, and Coca Cola without having to physically purchase any shares.
While investing in global CFD Shares, you can speculate on the price movement and trade on their shifting value. You can trade more than 80 global shares.
Bonds
FxNet allows you to trade on the shifting value of common government bonds, through CFD trading. You can speculate on the price of the underlying asset without owning the asset itself and decide whether to go long or short.
Metals
With FxNet you can trade on the most lucrative metals, without physically purchasing the product. The broker offers two popular ways to trade CFDs on Metals: Cash CFDs and Futures.
CFD Equity Indices
Go long or short on the most popular Indices around the world, like DAX 30, CAC 40, and FTSE 100.
FxNet Fees
FxNet spread is based on tight variable spreads, which are defined by the account type as well. The standard account has slightly higher ratios, where spreads start from 2.3 pips, and the VIP account has lower charges of spreads from 1.9 pips.
Premium account features 0 spread plus the commission charge of 1.2 pips per closed lot, which is an option for professional traders.
FxNet Deposit and Withdrawal
FxNet offers a diverse range of payment options. These include Card Payments, Bank Wire, e-wallets, WebMoney, Turstly, iDeal, and Przelewy24.
The minimum deposit is defined by the account type you are going to trade through, while the very minimum is $50 if you open a Standard Account.
VIP accounts and Platinum will need much higher deposits $10 000 and $25 000 respectively in reverse giving extra benefits to its holders.
As for the fee policies, each method has its own defined charges considered as payment provider fees. So, while depositing or withdrawing money make sure to check on necessary fees.
FxNet Trading Platforms
With FxNet you can access all your favorite instruments and trade from one platform: MetaTrader4, as it is regarded as the most used platform.
MT4 is provided through a variety of applications that gives access to trading through any device so you will stay in control at any time.
MT4 is known for its powerful charting features, as well as numerous add-ons that enhance trading analysis and execution of orders.
It is a trading platform developed to provide traders with easy access to the most dynamic financial markets, a professional forex and CFDs trading platform that’s simple enough even for novice traders to get started with.
FxNet adds an extra benefit through its truly well-managed access to markets using numerous liquidity providers along with competitive pricing.
Metatrader4 can be used on desktops, iPhone/iPad, or Android and is a fast, reliable, and powerful trading platform. You can trade on the go anywhere, anytime.
There are no restrictions on trading with MT4’s iPhone and iPad app allowing the trader to carry the platform everywhere. The app offers fully functional trading and full management of trading accounts as well as all-important technical analysis tools, on the go.
The MT4 iPhone/iPad application is compatible with iPhone, iPad, and iPod touch devices. Trade on the Go with Android MetaTrader4 App.
This allows traders to download MT4 on Android smartphones and carry their trading everywhere. The application allows fully functional trading and full management of trading accounts in addition to the use of all the important technical analysis tools.
The MT4 Android application is compatible with all Android devices. Traders can start trading on MT4 in seconds with FxNet’s Webtrader on Chrome, Firefox, Microsoft Edge, Internet Explorer, and Safari.
All you need is an internet connection and a FxNet trading account. As FxNet’s WebTrader is a web-based trading platform, you don’t need to download any software either.
Min Deposit
USD 50
Regulators
IFSC, CySEC
Trading Platform
MT4
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
How to open a FxNet account step by step
Step 1 – Visit the FxNet Website
Visit the official website of FxNet.
Step 2 – Click on the “Open Demo Account” tab
The FxNet review is simple and easy. You have the option of opening a demo account before going live. Complete the form on either account to confirm your details and get started.
If you think that you are not ready for a Live Account, start practicing on the demo, as it is the best way for a new trader to enter the world of Forex and CFDs.
FxNet Customer Support
FxNet offers all its clients help and technical support as its Brokerage Department operates 24/5, Monday to Friday 7:00-16.00 GMT.
If you have general questions regarding the services FxNet provide, check out its FAQ section and you will probably find most of the answers in there.
You can also leave a message and they will get back to you within 24 working hours.
FxNet Education
No educational content could be found on their website. It does however have a FAQs division where it answers obvious questions on Forex
FxNet Research
FxNet has a few tools to assist you in your trading:
Economic Calendar
Holiday Calendar
For certain CFDs, an expiry date may apply. When a CFD contract on an instrument expires, all positions that have been open on that instrument will be automatically closed.
The price of an expiry transaction will be based on the current available market price, at the time the transaction is executed.
FxNet Awards
There are no indications of any awards received.
FxNet vs FXGlobe vs XM – A Comparison
| 🔎 Broker | 🥇 FxNet | 🥈 FXGlobe | 🥉 XM |
| 💰 Minimum Deposit | $50 / R 914,18 | $250 | $5 USD |
| 📝 Sign-Up Bonus | No | ☑️ Yes | ☑️ Yes |
| ➕ Max. Leverage | 500:1 | 1:300 | 1:888 |
| 💵 Currency Pairs | - | 50+ | 57 |
| 🚀 Open an Account | 👉 Click Here | 👉 Click Here | 👉 Click Here |
FxNet Current Popularity Trend
According to Google Trends, here is an overview of how frequently the search term – “FxNet” is entered into Google’s search engine over a given period of time.
FxNet Pros and Cons
| ✔️ Pros | ❌ Cons |
| High leverage levels | No choice of trading platforms |
| Low minimum initial deposit | No VPS offered |
| STP/ECN trading model | High spreads on commission-free accounts |
| Low spread starting from 0 pips | No educational material |
| Leverage up to 1:500 |
Min Deposit
USD 50
Regulators
IFSC, CySEC
Trading Platform
MT4
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Conclusion
FxNet is flexible over the trading process you may get, covering flexible leverage, a choice between accounts, guarantees based on regulations, as well as various assets to trade with.
The trading costs are considered fair among regular traders compared to other brokers, while professionals may maximize their strategy with raw spread and commission per charge. Overall, trader of any size or portfolio may find their way with FxNet.
FxNet adheres to strict regulatory guidelines of the CySEC (No. 182/12). The broker offers a wide variety of forex pairs. Spreads that apply to these currency pairs are average for the FX industry.
If you decide to trade at FxNet, make sure that you are aware of all fees that might be charged to you when using a certain payment method. For credit/debit cards there is up to 3% fee when you make a deposit and up to 3% fee when you make a withdrawal.
Disclaimer
Trading in Forex/CFDs involves significant risk and may not be suitable for all investors. Trading in the financial markets may lead to a loss of some or all your original investment and as such you should not invest money that you cannot afford to lose.
Trading on margin/leverage can work against you as well as for you. You should be fully aware of all risks involved in trading and should seek professional advice from an independent financial advisor if you have any doubts.
The domain is owned and operated by FxNet Limited, Cypriot Investment Firm, which is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC), under license number 182/12.
FxNet Ltd is incorporated and registered under the laws of the Republic of Cyprus (Certificate of Incorporation No. 300624).
FxNet.com does not provide services to residents of the United States of America, Belize, Japan, Canada, Russia, Azerbaijan, and citizens of the European Economic Area (EEA) – the 28 EU member states including Iceland, Norway, and Liechtenstein, According to research in South Africa.
Frequently Asked Questions
Is FxNet a regulated broker?
Yes, FxNet is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 182/12. This means they have to adhere to strict regulatory requirements designed to protect investors.
What trading platforms does FxNet offer?
FxNet offers the popular MetaTrader 4 (MT4) trading platform, which is available for desktop, web, and mobile. They also offer a proprietary platform called FxNet Trader, which is web-based and allows for one-click trading.
What account types are available at FxNet?
FxNet offers four account types: Standard, VIP, Platinum, and Islamic. The Standard account requires a minimum deposit of $50 and has fixed spreads, while the VIP, Platinum, and Islamic accounts require larger deposits and offer lower spreads and additional features.
What instruments can be traded with FxNet?
FxNet offers a range of trading instruments, including forex currency pairs, commodities, indices, and cryptocurrencies. They also offer social trading through the ZuluTrade platform, which allows clients to follow and copy the trades of successful traders.
What are the deposit and withdrawal options at FxNet?
FxNet offers a variety of deposit and withdrawal methods, including bank transfer, credit/debit cards, and electronic wallets such as Skrill and Neteller. The minimum deposit and withdrawal amounts vary depending on the method used, and there may be fees associated with certain methods.
