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FxNet.com Review Visit site

Updated: Aug 12, 2019
2.639 · 37 REVIEWS
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About FxNet.com

FX Net is a forex broker. FX Net offers the MetaTrader 4 and MT Mobile online forex trading top platforms. FXNet.com offers over 20 currency pairs, metals, stocks, oil, and indices for your personal investment and trading options.

FxNet.com

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FxNet.com profile provided by FXNet, Dec 22, 2016

FxNet Ltd is an Investment Firm with registration number HE 300624, and is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under licence no. 182/12. As a CySEC regulated firm governed by MiFID, FxNet offers the advantage of safe monitored trading with no possibility of fraud. FxNet clients are all ensured by the Investors Compensation Fund (ICF), which guarantees the return of funds in the rare case of the company’s insolvency.

There is nothing more important than actual trading and FxNet offers traders a wide variety of trading accounts to suit a wide range of trading needs, which is all done through the STP (Straight Through Processing) model.

FXNET ACCOUNT TYPES

• Standard

• VIP

• Platinum

FXNET TRADING PLATFORMS

• MetaTrader 4 for Desktop

• MetaTrader 4 for iPhone/iPad

• MetaTrader 4 for Android

• MT4 WebTrader

FxNet offers excellent trading conditions allowing more flexible and successful trading, including the following advantages:

• No re-quotes, no rejections

• Negative balance protection

• Flexible leverage up to 1:500

• Hedging, Scalping and News Trading Permitted




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2.639 · 37 REVIEWS
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Consumer Reviews

Amin El-Hakim,
Beirut, Lebanon,
Feb 19, 2014,
Guest

I have to disagree a bit with Mr. Mazen in some points. To my knowledge, me and Mr. Mazen started working with Fxnet at the same time, which is the time of their opening, in the beginning of 2013. I'm still a client and I'm rating 4 stars for the following reasons:
1. Execution is good in all market conditions (no freezing, no disconnection, etc). Basically, all market maker tricks are not present.
2. Customer support is more than efficient and friendly, and they will follow you inquiries to the last minute.
3. I personally was refunded huge losses by the company on numerous occasions due to slippage.

BUT

Spread is mostly fixed but on SOME news events gets wild and especially on NFP that's why I don't know how Mr. Mazen managed with that without a margin call especially that to my knowledge, he trades the news the same way I do. Unless I'm missing something. I personally observed Feb 2013 NFP where the spread of USDJPY reached 125 pips, and observed an earlier NFP where spread reached 178 pips on USDJPY.
Fxnet blames that on their liquidity provider and I totally believe that.

Overall, they are very good, not just good, but I had to shed the light on those issues. I go way back in the FPA and I always speak the truth and even Fxnet knows that.

2013-03-26 5Star Apparently the phrase "too good to be true " is my personal statement. 2 full months of trading with not a single problem. And when I say I'm an agressive trader, it means I go full margin with these guys. And what's more surprising is that they call me and tell me... PLEASE MORE VOLUME. The only setback I had is a withdrawal delay because of the Cyprus banks problem. And despite, these guys tried to surpass the problem and transferred me some money via Skrill and refunded my credit card deposits. Sill waiting the banks opening on Thursday and you know that you'll hear from if something goes wrong. This broker was the first to earn my 5 stars rating. No execution delays, minimal slippage (biggest I had was 7 pips). It really feels like a real market. Definitely "Far better performance than expected".
Frederika Fraser,
Limassol, Cyprus,
Oct 4, 2013,
Guest

I can assure you that the reviews written below are confirmed clients of FxNet. You can also check this with forexpeacearmy because they do they own diligence on IPs etc..
As per the points mentioned below please see our answer
1. We do have an easy account opening process because of an advance in technology and now most of the steps, if not all, are done online. There is no need to download, fill, sign, scan etc…
2. We are very sorry your experience was poor with our customer service; however I assure you that if you are not happy with your existing account manager, you can send an email to support and we will assign a differ account manager.
3. We avoid restarting our servers during trading hours, and we only do them on weekends so as not to affect trading unless for emergency reasons. If the disconnections you are mentioning are happening on weekends, then this is quite normal.
4. Our spreads are fixed most of the time for the majors. During extreme market conditions spreads might change

As per 4,5,6 & 7 please send us an email with exact info to support@fxnet.com so we can examine and ensure you receive a reply from us.

We are very sorry that your trading experience with us was poor; however we encourage you to send us an email again to support@fxnet.com so we examine all issues. We are always here for our clients and listen to them carefully in order to enhance their trading experience with us.
Revealer,
Somewhere, Russian Federation,
Sep 13, 2013,
Guest

I fully understand why there are fake positive reviews for this company as FxNet's performance is one of the worst out there. Hopefully, this review which is totally unbiased and based on facts (includes data recorded) will prevent a few traders from making a horrible mistake and signing up with this broker. I will rate the performance based on: 1) Ease of Opening an Account, 2)Customer Service, 3) Metatrader Platform Disconnections 4) Spreads, 5) Slippage, 6) Latency and 7) Execution. The rating will be from 1 to 5 with 1 being Terrible and 5 being Excellent.

1) Ease of Opening Account: This is a 5 out of 5, account opening and funding was very smooth and hassle free which is probably not surprising since they are a new broker and looking to grow the customer base quickly.
2) Customer Service: This is a 1 out of 5, communication was good prior to account opening but extremely poor and lacking after the account was opened.
3) Metatrader Platform Disconnections: This is a 1 out of 5, frequent Metatrader Platform disconnections and reconnections, I have to mute my PC at nights because of that annoying sound when it disconnects and reconnects and when I check it is always FxNet's platform.
4) Spreads: This is a 1 out of 5, they advertise as having fixed spreads 24/5 on this page http://www.fxnet.com/content/about/advantages but I guess 2 out of the 5 days are probably Saturday and Sunday. This is misleading advertising at the least and I may just submit a report to the relevant authorities to investigate. Based on logging of the spreads the claim about fixed spread 24/5 is absolutely false.
5) Slippage: This is a 1 out of 5, one of the worst brokers out there based on the recorded slippage on executed orders.
6) Latency: This is a 3 out of 5 since the latency based on my setup is about average when compared to other brokers.
7) Execution: This is 3 out of 5 since the execution based on my setup is about average when compared to other broker.

Hopefully this review will assist a few traders who might be thinking about opening an account with this broker. There are a few tools out there to record your broker's performance, make use of it in order to know when the broker is misbehaving.
Frederika Fraser,
Lemesos, Cyprus,
Aug 28, 2013,
Guest

Hi Everyone ,

Allow me to introduce myself; my name is Frederika Fraser and I am a new official representative of FxNet Ltd (www.fxnet.com) – an EU Regulated STP Forex Broker. I am posting on this thread in order to assist the CashFindForum members with any queries they may have with respect to FxNet and/or Forex in general.

At FxNet we provide members with a number of financial instruments that may be traded through CFD’s, including Forex, Commodities and Stock Indices, which can be traded via our MT4 platform, smartphone/ mobile applications, or via our web based SimpleTrader, all under 1 account.

All questions/ comments are welcome. Please feel free to contact us via this thread or alternatively you may contact me directly at fraser@fxnet.com.

Alternatively, you can follow us on Twitter: @FxNetTraDinG or 'like' us on Facebook for updates about FxNet

Thank you for your time

Frederika Fraser
Funshow,
Ilorin, Nigeria,
Jul 31, 2013,
Guest

i've been trading for years and i've never seen a broker as good as fxnet. All my trading conditions are met and i feel secure trading with them. I never regret having them as my broker.
Ganesh,
Mumbai, India,
Jul 11, 2013,
Guest

I have been using quite a few brokers so far among them fxnet have the fastest execution, no requotes , support is very friendly and fast in response. Withdrawals are fast too.
Wilson,
Manchester, United Kingdom,
May 8, 2013,
Guest

FXNet are one of about 30 brokers I use currently. I do because they are reliable and as a previous poster has already said, they can even be trusted to provide good fills during volatile markets (something key to my trading style).
it seems that most of the complaints here relate to misunderstanding how bonus promotions work or how to trade Forex at all.
Remember guys, no matter what you've been sold by training guides or websites, FOREX TRADING IS VERY DIFFICULT TO GET RIGHT. There is no easy win and you have to be on top of the many many dangers before you start trading with real money.
It's not right to come on to a forum like this and take out your anger on a perfectly reasonable (in this case excellent) brokerage.
This site can contribute a lot to helping us individuals to find quality service providers so please try to use it properly and not turn it into just another abusive forum.
Rant over.
:)
Nizam Bou Fakher Eddine,
Lebanon, Lebanon,
May 8, 2013,
Guest

during the last NFP, my account experienced a 47pips slippage, of a total loss of 1600$, and due to that my account was zeroed... i was surprised yesterday to receive an email from FXNET explaining what and what has happened, and letting me know that my losses was all being deposited in to my account again, and i didn't even send a complain email, or asked for an explanation. FXNET did that on their own will, by their own terms, and they could have let that slip and they could have got away with it, and not refunding my account, but because they are a respected broker, they did what they did...
guys believe me no other broker is ready to do this for any one, no matter what the consequence are... for this FXNET , you rock...
FxNet Ltd - Official Representative,
Limassol, Cyprus,
May 6, 2013,
Guest


Dear TokNick,

Further to your comment below, we kindly request that you inform us of the trade at hand; for which you are unsure of what has happened and yet you instinctively label us a ‘scam’ for.

Please note that we operate as a True and Pure STP Broker with a hedge before confirm policy, which allows us to ensure that our No Re-quotes and No Rejections policies can be upheld further to market demand. In your case we are unsure of what has occurred as we are unaware of your account number, ID, instrument traded or time of trade.

We very much consider it prudent if you could inform us (by this thread if you wish or by direct email to myself at ckappai@fxnet.com) of the trade at hand so that we may look into the matter fully and resolve this issue. In future also we very much would appreciate if you could contact us first as we are here 24/5 to assist you via phone/ live chat with any matters, prior to spreading negative comments about us in a scenario in which you yourself state you ‘don’t know’ what happened and are ‘very confused’ by.

I hope that after having reviewed the case you will be assured that no ‘scam’ has occurred. We are a broker that prides itself in its fair dealings, especially its fair and fast execution of orders.

Kind Regards,

Costas Kappai
Official Representative of FxNet Ltd
TokNick,
Kuala Lumpur, Malaysia,
May 5, 2013,
Guest

FXNet is SCAM and cheating:

I just make the Pending Order BUY 20 pips during the news for the 0.3 lot.
After bullish about 70 pips... i must get the profit USD60.
But what i git is -USD12.90 ?? I don't know and very confused.
So.... confirm this is the SCAM Broker !!