FxNet Review – Is FxNet Scam or Satisfactory As a Broker?

FxNet Review

FxNet is a digital trading platform founded in 2012. It was established as a Cyprus brokerage firm. Over the past 10 years it has made its place in the global trading market and serving as a reputable forex broker. FxNet is remarkably playing its role as an international financial manifesto and an asset trading platform for the investors in 2022.

FxNet is a broker based in Dubai and is owned by BelFx Ltd. The firm also delivers its services to the countries beyond the European economic geographical region. It has also been issued the license by the International Financial Service Commission (IFSC).

Digital trading is not every one’s piece of cake. To trade smartly and successfully, the traders and investors have to conduct a lot of research to invest with a reputable company and to have a better understanding of what they are basically doing. This is how FxNet helps the online traders by mediating between the retailor and the clients by their exemplary services and customer care.

Account Types

FxNet provides three different types of accounts to its customers depending upon their needs. These account types include VIP account, Standard account and Platinum Account. In addition to these, FxNet also offers Islamic account available only in Islamic regions that allows complete swap free trading account to the Islamic principles. The traders are not charged overnight fee while trading in Islamic accounts.

The traders are also given an opportunity to open a demo account before dealing with a live account

Safety and Security

Before working with a broker, one must assure that it is safe and secured. The most valid benchmark to ensure authenticity is to look upon the higher authorities that are regulating the broker’s activities.

FxNet is a trustworthy broker registered as a Cyprus investment firm and works under the local CySEC license which is also a part of EU legislation. It provides segregated accounts along with asset protection to its clients. It is considered safe to trade with FxNet because it has set its operational guidelines and standards according to the customer demands.

Deposits and Withdrawals

FxNet offers a variety of methods to its customers to deposit and withdraw funds. This can be done via debit card, credit card, Neteller, Bank Wire, Skrill, e-Wallets, web money and multiple other methods. It does not accept deposits from any outsider so one should always use the cards that they have personally registered. It has fixed the minimum deposit amount depending on the account type.

Trading Fee, Commissions and Spreads

The trading fee depends upon multiple factors such as margins, commissions and spreads.

Before coming to a conclusion to trade with FxNet make sure to be aware of the charges that would be deducted using some specific payment methods. It charges 3% fee on every deposit or withdrawal via debit card or credit card.

Spreads in FxNet vary with the account types and offers tight spreads on most of its asset domains depending on the market conditions.

Trading Platforms

The trading platforms provide the feasibility of trading via the electronic instruments with a single click. FxNet offers MetaTrader4 (MT4) for this purpose.

MT4 provides price charts and several add-ons that help in effective trade analysis further assisting the traders to gain maximum profits.

Leverage

Leverage is the opportunity given to the traders that provides him a bigger exposure in the trading market than the investment he has done to start a trade. As the leveraged entities increase the investor’s potential benefits, simultaneously it also increases the chances of losses.

FxNet offers the maximum leverage in ratio 1:500 that is only given if one is trading with an offshore enterprise. For the residents of EU, the ratio is automatically lessened as they fall under the regulatory conditions.

Education and Training Resources

To trade effectively, one should have a good analytical approach towards it. FxNet provides a fine collection of educational resources that could help the customers to develop a better understanding of the techniques and instruments being used. One must take the time and the train accordingly to think more logically. Hence, multiplying one’s profits.

Customer Support

FxNet provides an efficient customer service to its clients five days a week. It responds to the problems of the clients usually within 24 hours and try helping them in the best possible way. One can contact FxNet customer service via telephone, email or post.

Conclusion

A reliable broker is the key to success in digital trading. In order to gain maximum profits, your demands should match with the broker’s profile too. FxNet offers less complicated and flexible trade options depending upon their requirements and portfolio of its customers so that one could draw utmost profit out of the amount invested.