Best Forex Brokers:FxNet Review
General Information
Founded in: 2012
Headquarters: Cyprus
Commissions: None
Minimum deposit: None
Languages available: English, Greek, Mandarin, Japanese, Russian, Korean
Leverage: Up to 1:500
Regulation: CySEC
Headquarters: Cyprus
Commissions: None
Minimum deposit: None
Languages available: English, Greek, Mandarin, Japanese, Russian, Korean
Leverage: Up to 1:500
Regulation: CySEC
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FxNet.com is a global online Forex and commodities broker that provides investors around the world with full service Forex trading. FxNet is a fully licensed over the counter brokerage located in Limassol, Cyprus and is regulated by the Cyprus Securities and Exchange Commission (CySEC).
The FxNet website provides features and tools that are easily understood by beginner traders as well as professional investors. The homepage of the website is packed with all sorts of useful data and opens up easily to instructional pages regarding the various available accounts, payments, withdrawals etc.
The buttons that are found at the top for their demo account and real account were clearly defined as is access to their various accounts, platforms and other products. Overall, we found the FxNet website extremely user-friendly and easy to navigate throughout this FxNet review.
Account Types
Account Types Among their many features, FXNet offers several platforms including the FxNet MT4 Desktop which can be loaded directly to a Laptop or PC and has a user friendly interface and analysis tools. The FxNet SimpleTrader is also a user friendly platform and is custom designed to suit both veterans and newcomers alike. The SimpleTrader is quick and easy to master, whilst offering multiple charting and analysis tools.
Another platform, the FxNEt Droid Trader, provides an integration for Android smartphones and gives traders full access to their FxNet accounts 24 hours a day with full trading functionalities, including charting and news feeds. Through the Android powered mobile devices, traders can carry out technical analysis while on the go and perform their trades whenever they wish and wherever they are.
FxNet believes in keeping things simple and efficient and offers only 2 basic account types- the Standard Account and VIP. These accounts allow trading from as little as 0.01 lots (1 thousand units) to 20 lots (2 million units) per transaction. Accounts are designed to accommodate every client’s preference and vary according to a trader’s needs.
There is a wide choice of financial instruments to choose from including the major s, minors, exotics and CFD’s on stock indices as well as commodities comprising gold, silver and oil. All trades are offered at fixed competitive rates and follow the company policy of ‘No Re-quote, No Rejection’ for all executions. Prices are quoted to one tenth of a pip (5th decimal on most instruments) so as to give the most accurate pricing to all clients. Like most Forex brokers, trading can be done 24/5 all year round.
FxNet also offers a Multi Account Management (MAM) option which allows the trader to trade in many accounts (sub accounts) from the one master account. The Master account will perform a trade which will be replicated in the sub accounts that the Master account has under it. MAM is available for those using the MT4 platform wherein the allocation of profits and losses from the trades may be distributed equally or as specified by the master account.
The brokerage has been fully integrated into the ZuluTrade platform which a trader to choose and follow signals from the most successful traders currently trading. This eliminates the need to spend hours studying charts and trying to analyze patterns.
Another platform, the FxNEt Droid Trader, provides an integration for Android smartphones and gives traders full access to their FxNet accounts 24 hours a day with full trading functionalities, including charting and news feeds. Through the Android powered mobile devices, traders can carry out technical analysis while on the go and perform their trades whenever they wish and wherever they are.
FxNet believes in keeping things simple and efficient and offers only 2 basic account types- the Standard Account and VIP. These accounts allow trading from as little as 0.01 lots (1 thousand units) to 20 lots (2 million units) per transaction. Accounts are designed to accommodate every client’s preference and vary according to a trader’s needs.
There is a wide choice of financial instruments to choose from including the major s, minors, exotics and CFD’s on stock indices as well as commodities comprising gold, silver and oil. All trades are offered at fixed competitive rates and follow the company policy of ‘No Re-quote, No Rejection’ for all executions. Prices are quoted to one tenth of a pip (5th decimal on most instruments) so as to give the most accurate pricing to all clients. Like most Forex brokers, trading can be done 24/5 all year round.
FxNet also offers a Multi Account Management (MAM) option which allows the trader to trade in many accounts (sub accounts) from the one master account. The Master account will perform a trade which will be replicated in the sub accounts that the Master account has under it. MAM is available for those using the MT4 platform wherein the allocation of profits and losses from the trades may be distributed equally or as specified by the master account.
The brokerage has been fully integrated into the ZuluTrade platform which a trader to choose and follow signals from the most successful traders currently trading. This eliminates the need to spend hours studying charts and trying to analyze patterns.
Additional Features
During the course of our FxNet review we also came across several interesting features that are unique to this brokerage. For example, the company offers a choice of two different bonuses: a 50% margin bonus and a 15% rescue bonus.
In addition, their demo account offers what they call an “Expert Advisor Demo Account” where prizes of up to $5000 can be won.
In addition, their demo account offers what they call an “Expert Advisor Demo Account” where prizes of up to $5000 can be won.
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Final Thoughts
With no specific minimum deposit and integration of today’s hottest platforms and applications like MetaTrader4 and ZuluTrade, we found FxNet to provide an entirely comfortable trading experience for traders at all levels.
