de | cn | ru

FXNET Review - Is it a good forex broker?

FxNet Review - Is it a good forex broker?

RATING: 2.5 / 4 REVIEWS ForexBrokerz FXNET


FXNET execution and slippage

0.66 pips



0.66 pips

FXNET slippage with For333 trading strategy

Average pips/trade:           12.0

Average trade lifespan:   15 hours

Most traded pairs:              GBP/USD, EUR/USD, AUD/USD

Trading Accounts


Account type  Minimum deposit Minimum trade size Maximum leverage Average Spreads 
Standard $50 0.01 1:500 From 2.3 pips
VIP $2 000 0.01 1:500 From 1.9 pips
Platinum $5 000 0.01 1:500 From 0 pips+ $12 commission/lot


FxNET offers three basic forex trading account types, based on the initial deposit amount. All of them offer leverage up to 1:500, market execution, variable spreads and micro tradeable lots.  The Standard & VIP accounts are commission-free, while the Platinum one offers raw spreads and involves a small commission.


Besides, the brokerage provides Islamic accounts that allow swap-free trading in compliance with the Sharia Law, which means that such account holders can trade without being charged overnight fees. 



The Company. Security of Funds





FxNET Ltd.




FxNET is a global, fully licensed STP (Straight Through Processing) broker offering trading in over 40 currency pairs, CFDs on shares, bonds, commodities, and equity Indices on the MT4 platform. Its Liquidity Pool includes some of the best, most credible and widely known banks in the world.


FxNET is the brand name of FxNET Ltd., a company authorized and regulated by the Cyprus Securities Exchange Commission (CySEC), a regulator known for its efficient work. CySEC requires Cyprus Investment Firms to hold at least €730 000 as a proof of financial stability (the same amount is also required from UK-based brokerages by FCA); in addition, forex brokers must keep customer funds in segregated accounts, and regularly report to the commission.


As far as safety goes, FxNet has done its best to ensure high levels of client protection. The broker is also a member of the Investment Compensation Fund (ICF), which means that if anything goes wrong, any customer can get a compensation of up to €20,000. As per regulatory requirements, FxNet LTD fully protects its Clients from negative balances.Thanks to the negative balance protection provided, the risk associated with trading with this broker is limited to the equity gathered on client’s account.


Additionally, every CySEC- regulated investment company is also MiFID compliant and therefore entitled to offer cross-border services within the EU. Nonetheless, FxNET is also registered with UK’s FCA, Germany’s BaFin, Netherlands’ AFM and others EU regulators.


Trading Conditions


Minimum Initial Deposit

In order to open an account with FxNET, traders have to invest a at least $50. Such minimum initial amount is quite low, as most brokers require around $200 as a start. Of course, there are brokerages which demand less – for example, one may open an account with leading Cypriot brokerage FXTM with just $5.


Spreads & Commissions

As a true STP broker, FxNET provides only variable spreads. Unfortunately, the ones offered on the Standard and VIP accounts are quite wide – starting out at 2.3 and 1.9 pips for the EUR/USD pair, respectively.  The best spreads with this broker are offered on the Platinum (ECN account) – starting out at zero for the EUR/USD, but if we add the commission applicable of $12 per lot, the cost of trading appears to be average – within the range of 1.0 – 1.5 pips.


By comparison, FXTM’s typical ECN spreads amount to 0.7 pips and involve a commission of $4 per lot round turn. For more information, you may look up real-time spreads of 15 leading brokers here.




The maximum leverage level offered by FxNET is 1:500, however the default leverage is 1:50. Client’s may request a higher leverage ratio, but the actual leverage assigned to the account depends on client’s knowledge, previous experience in trading and country of residence. Maximum leverage available for Polish citizens is 1:100.


Trading Platforms


This broker offers its clients the internationally acclaimed trading terminal MetaTrader4 (MT4), available in all forms and shapes: desktop, web based version and mobile apps.


MT4 offers a full spectrum of trading tools and resources: more than 50 built-in technical indicators, advanced charting package, a wide range of Expert Advisors (EAs) and extensive back-testing options for them. Traders can download ready-made or create their own EAs and let the program do all the work.


Besides, FxNET provides VPS hosting so that it clients can run their EAs 24/7, even if their PCs are turned off.


Methods of Payment


FxNET offers an array of payment methods: credit/debit cards (Visa, MasterCard, Maestro), bank wire transfer and e-wallet payment systems, such as Skrill, Neteller, China UnionPay, Qiwi, WebMoney, FastBank, Przelewy24.




FxNET is a well-regulated STP broker offering trading in forex a number of CFDs on the popular MT4 platform. Its offerings seem quite reasonable, but we find the spreads on commission-free accounts too high. To sum up the above, here are the advantages and drawbacks with regards to this broker:


Pros Cons
Well-regulated High spreads on commission-free accounts
STP/ECN trading model No choice of trading platforms
High leverage levels available  
Low minimum initial deposit  


Latest news about FXNET
Broker Country Regulation Platform Min Deposit Review
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for FXNET
















Price feed















Customer service










Happy to trade with FxNet

Hi. I have been trading with FXNET for 3 months.All i know is that the management of the Company has changed since August 2015 and everything has been changed in the Company. Is a reliable company always happy to help and advice.

Jason 05/12/2016

FxNet Representative

Dear all

As a representative of FxNet I have been looking through your reviews to take in all comments (complaints and compliments alike) to keep understanding what the clients are experiencing when trading with FxNet.

To everybody who has left with a sour taste from trading with FxNet I understand there must have been reasons for that, but we are always happy to take calls, emails and live chats to discuss any problems - remember reaching out to the company goes a long way and our customer support team is always ready to assist with any problems and right any wrongs. What may seem like a misunderstanding or a major problem may turn out to be no more than a bump which can be fixed if we collaborate together.

It is important to note that FxNet operates transparently and all our fees, spreads, swaps and any details are listed on our website and can be checked through the platform for a live rate. Following changes our spreads are now variable and can be monitored through each client's MT4 platform.

Once again thank you for your comments and for taking the time to check FxNet and leave your reviews. We welcome everyone back and hope we can give you a new experience as we are happy to speak with first timers and introduce you to our company.

Best Regards

Deema Osman
FxNet Representative

Deema Osman 07/23/2015

Fxnet is the best!

I am very happy with this broker. They provide me one of the best VPS for free because of my account balance which is 5000 USD. They cover the 10 dollars bank transfer fee. I got 100 dollars margin bonus which is a tradable bonus.

Their trade execution speed is awesome. No slippage or re quotes till today. The support staff is great and very helpful. I have provided my own dedicated personal manager. She is very very helpful. I got my daily trade report and also daily technical analysis and trade suggestions. Their spread is a bit high but they are true STP NDD so that is not a problem for me. There are many brokers who claim that they are true STP but in fact they are not. A true STP broker must have high spreads than other brokers for obvious reasons.

They offered me an Islamic account (No swaps). I had to fill a form with attached proof of my religion. Their only condition is that there must be activity on my account. In other words they will revoke the 'no swap' facility if I abuse the account by just opening a couple of trades and letting them open forever without opening new trades. Which is fair as I understand. So far no swaps charged and a couple of my positions remained open for like 15 days but at the same time I was trading other positions and open and closing positions on daily basis.

So, in short I am very happy. I will keep updating you about my progress with them on monthly basis.


kashif 01/15/2014
de | cn | ru