FxNet is an STP CFD broker that features on its trading platform CFDs on Currencies, Commodities, Indices, Shares, Bonds, Cryptocurrencies. FxNet Limited is regulated and overseen in Cyprus by the CySEC (this company also run three other brokers – NESSfx, Rynki and NetMarkets.) The minimum spread is for EUR/USD 2.3 pips*, real trading is possible with the minimum deposit of $50. The FxNet website is available in 12 languages including English, German and Italian.
What do we cover in our FxNet Review?
|General Risk Warning: 74–89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.|
Basic information about the broker
- Website address: www.FxNet.com
- Leverage: up to 1:30
- Instruments: CFDs – Currencies (102), Commodities (14), Indices (16), Shares (99), Bonds (3), Cryptocurrencies (4)
- Minimum deposit: $50 (accounts held in USD, EUR, GBP, PLN, CZK)
- Demo account: Yes, free of charge
- Methods of deposit and withdrawal: Wire Transfer, Skrill, Neteller, WebMoney, QIWI, Przelewy 24, Credit and debit cards (Visa/MasterCard)
FxNet Trading Platform
For FX and CFD trading, FxNet offers MT4. A popular platform used not only for executing trades but also for analyzing financial markets and automated trading. MT4 can be downloaded to any computer or can be accessed via just a web browser or a mobile application. The trading platform gives access to a little over 200 trading instruments.
As any other CFD broker, FxNet charges a spread fee. For the most current spread charges, please visit the FxNet.com website. Here is a spread comparison table that contrasts FxNet spreads with popular industry competitors.
*Minimum spreads recorded on 23.06.2019 at 8:22 GMT for the standard account. Data were taken from the website of the broker. **Spreads recorded on 26.09.2019 at 11:26 GMT from the trading platform of the broker.
Advantages and disadvantages
Every Broker has its pros and cons, let’s have a look at the ones that elevate & denounce FxNet.
- Low minimum deposit
- Wide variety of FX pairs
- Average spreads
- Up to 3% commision fee on deposits and widthrawals when using a card
To sum up the FxNet Review
FxNet adheres to strict regulatory guidelines of the CySEC (No. 182/12). The broker offers a wide variety of forex pairs, spreads that apply on 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 + up to 3% fee when you make a withdrawal).
Your review can make a difference to other traders, please leave a comment if you have any personal experience with FxNet.
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