|Type of Broker||ECN , STP|
|Islamic Account (Swap Free)|
|Deposit Options||Bank Wire Transfer , Cash-U , Credit Card , Debit Card , FasaPay , Moneybookers , Neteller , Skrill , U-Kash , Webmoney , Payza|
|Withdrawal Options||Bank Wire Transfer , Cash-U , Credit Card , Debit Card , FasaPay , Moneybookers , Neteller , Skrill , U-Kash , Webmoney , Payza|
Bonus & Rewards
|No Deposit Bonus|
|Bonus for First Deposit|
|Is the Bonus Based on the Volume of the Transaction?|
|Customer Support Languages||English, Russian, Greek, Arabic, Japanese, Czech|
|Customer Service Hours||24h|
|Place Trades Over the Phone?|
FxNet - Review
FxNet Review Article
FxNet is a new online forex and commodities broker that was recently (Nov 2012) granted its operating license as a financial services provider by Cyprus Securities and Exchange Commission (CySEC). With FxNet’s headquarter in Limassol, Cyprus, FxNet’s management have said that to win over customers and retain their patronage, their strategy is to provide exceptional customer service, transparency in their dealings and innovative trading solutions.
In order to provide their clients with fast and reliable services with their trading platforms, FxNet has teamed up with world renowned software developing companies Deloitte and Oracle to create a high-tech CRM system use for monitoring the needs of every client that it has. In addition, FxNet has also came up with a simplified but yet powerful web-based trading platform called “SimpleTrader” to enhance the trading experiences of their clients.
Clients of FxNet have access to all of FxNet’s dynamic trading platforms like the industry’s most popular forex trading platform, MetaTrader 4 (MT4), and the highly efficient SimpleTrader from just a single trading account. All in all, FxNet provided their clients with 5 main types of trading platforms and these comprises of:
- FxNet MT4 Desktop
· FxNet MT4 SimpleTrader
· FxNet MT4 WebTrader
· FxNet Mobile Trading platforms
FxNet MT4 Desktop
The industry’s standard platform for online trading, the FxNet MT4 Desktop is fully equipped charting and technical analysis tools. MT4 also allows for customization to encompass the use of Expert Advisors (EAs).
FxNet MT4 SimpleTrader
FxNet MT4 SimpleTrader is a trading platform designed to simplify trading to the extent that even newcomers will have no problem mastering all the sophisticated charting and technical analysis tools.
FxNet MT4 WebTrader
The FxNet MT4 WebTrader is a web based trading platform that allows traders to work from any computer without the need to download any software. Traders can log in to the WebTrader from any location around the world under their trading account.
FxNet Mobile Trading platforms
The FxNet Mobile trading platforms are designed to support trading on mobile devices like iPhones, iPads, Android powered devices and Windows mobile devices. With 30 indicators, all types of orders can be executed enabling traders to work virtually from any place around the world.
ZuluTrade allows traders to share information about the financial markets and trading decisions of the talented traders in an open environment enabling the less experienced to shorten their learning curve.
At FxNet, traders can choose between a standard trading account or a VIP trading account. Regardless of the type of trading account, all trades are executed by FxNEt on a Straight-Through- Process (STP) basis. The main differences between the Standard and VIP account include the following:
|Features||1. Standard Account||2. VIP Account||3. Platinum Account|
|24 Hrs Dealing Support||Yes||Yes||Yes|
|Spreads||From 2.3 pips (variable)||From 1.9 pips (variable)||From 0 spread (variable) + $12 commission|
|Minimum order||0.01 lot||0.1 lot||1 lot|
In addition ot the normal types of trading accounts, FxNet also services for:
- Corporate Accounts
- Islamic Accounts
- MAM Accounts
Commission & Spreads
FxNet does not charge any commissions for trading services (except from its Platinum account – raw spread + $12 commission). Traders pay a spread for 2.3 pips for standard accounts and 1.9 pips for VIP accounts.
Customer support is available 24/5 at FxNet. To get in touch with the customer support team, raders can reach them by:
- Phone: +357 25 108111
- Email: firstname.lastname@example.org
For the dealing room, the contact information is as follows:
- Email: email@example.com
- Phone: 00357 25 108111
As part of the procedures that FxNet to ensure their reliability in handling their clients’ orders and requests:
- Access to Investor Compensation Fund.
- All internet traffic between FxNet and their clients’ encrypted with SSL encryption technology.
- Clients’ funds are only deposited with top tier banks like Barclays Bank.
- Company’s funds and clients’ funds are kept in segregated accounts.
- Licensed and registered to operate with CySEC, FSA and BaFin.
- Negative Balance Protection to prevent clients from losing more than they invested.
- Regular upkeep of operational records as per required by CySEC.
Despite FxNet being newly established, the broker has managed to expand rapidly mainly due to the following:
- High Leverage At 1:500
- Legal Protection With A Regulated Broker
- Low Minimum Deposit
- Multiple Choice Of Trading Platforms
- Negative Balance Protection
- No Requotes
- Personalized Service
- Plenty Of Bonuses
- Plenty Of Promotional Activities Like Contests
- Provide Demo Account To Test The System
- Quick Withdrawal
- Reliable 24/5 Support
- Support EAs
- True STP Broker (No Conflict Of Interest)
- Wide Range Of Trading Tools
- Don’t accept U.S clients (Does not affect European or Asian based clients)
- With fixed spreads at 2.8 pips, this might seem high for some traders who are trading the majors.
So far most of the feedbacks from FxNet’s clients have been positive which seems to indicate that they are striving to provide highest quality of service to their clients. Their investments into new innovative technology like the FxNet MT4 SimpleTrader could possibly be an award winning platform given enough time for the market to assess its efficiency. With so many advantages going for the clients of FxNet, newcomers to forex trading are seriously recommended to give them a try.