FxNet is a CFD and Forex Brokerage Company owned by BelFX Limited and is licensed by the nternational Financial Services Commissionâ€™ in Belize. Created by traders for traders, the company offers unparalleled trading conditions favorable to both experienced and novice traders.
Managed by experienced professionals in the financial industry, FxNet aims to provide exceptional customer service, excellent trading conditions and offer useful knowledge to its clients. Also, the company is always improving on its services to make sure it provides the highest level of customer satisfaction.
Features and Services
Nothing is more important than providing excellent and transparent trading conditions. To begin with, the company offers a wide range of trading platforms. The Meta Trader 4 platform is available as either web-based or desktop application enabling you to trade and access your favorite instruments on one platform. This award winning platform is fast, powerful, reliable and most importantly simple enough for novice traders.
For smartphone lovers, FxNet provides the Meta Trader 4 for both iPhone and Android devices. This portable platform comes with all the important technical analysis tools and you can manage your trading accounts anywhere at any time.
You can also trade on a variety instruments with FxNet including currencies, indices, bonds, precious metals, shares and commodities. You can trade on most online Forex currencies 24 hours, 5 days a week. Common government bonds such as US30YBond, US10YNote, JPN10YBond and GER10YBond can also be traded through CFD trading. To make it better, price speculation is allowed, so the decision is yours on either to go long or short.
Additionally, there are several account types to choose from depending on which one works best for you. You can either choose to open the standard account, VIP account or the commission based Platinum account. However, only the Platinum and VIP account types offer 24/5 brokerage support.
Muslim traders have an option to open an Islamic account which strictly complies with the Sharia Law. This account doesn't charge any overnight fees and is swap free. To add on that, only standard accounts are used as Islamic accounts. Also, you can choose to open a demo account if youâ€™re not yet ready to go live.
There are also a lot of payment methods you could choose to either deposit or withdraw funds at FxNet. Payments and withdrawal could be made through WIRE TRANSFER, Skrill, NETELLER and MasterCard in either EUR or USD currencies.
There are a lot of advantages trading with this reputable online brokerage company including:
- A fully committed client support center.
- Availably of Live Chat system.
- Offer dynamic leverage.
- News trading, hedging and Scalping allowed.
- Offers low spreads.
- Financial transactionâ€™s security ensured by Secure Sockets Layer (SSL).
- Availability of trading tools such as economic calendar, holiday calendar and Expiry Date for certain CFDs
- You do not necessarily need to deposit funds using your base currency.
FxNet also has a few drawbacks including:
- Not available in some countries including; USA, Belize, Japan, Turkey, Canada, Russia and the European Economic Area (EEA) member states.
- Limited payment methods.
- Only works 5 days of the week.
- No trading on binary, cryptocurrencies and ETFs.
- Commission-free accounts attract high spreads.
- No third party deposits
To sum it up, FxNet is a good Forex broker that offers you a wide variety of trading instruments, accounts and platforms. All you need is to open a live account with a small deposit amount and enjoy market execution.