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FxNet.com Review Visit site

Updated: Aug 30, 2018
2.506 · 37 REVIEWS
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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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2015-0142015-01-27claudiu777 vs fxnet.comresolved

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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2.506 · 37 REVIEWS
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DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Nakheel,
Sharjah, United Arab Emirates,
Aug 18, 2018,
Registered user

Good for a Start

Their market knowledge is good, Can help you to learn some good market analysis in a short span of time,

Registration process was simple, documents approval was quick as well

Funds featured after 48 hrs as I had done a WIRE TRANSFER and money had to be sent to Cyprus so I was aware of it.... Overall a satisfied experience with a broker with so many -ve reviews

Would recommend it big time to new traders
Paul Sneeden,
Gauteng, South Africa, South Africa,
Aug 10, 2018,
Guest

Terrible service

They took 3 deposits from me last month, but only paid 2 into my trading account. When I send emails to them, they ignore me, or send me replies in Spanish, which I do not understand.

They take your deposits without question, but when you want to withdraw, then suddenly your documentation is incorrect & they tell you to submit more documents.

I am currently looking for a new broker while they illegally withhold my funds!!!
mohammed,
dubai, United Arab Emirates,
Jul 24, 2018,
Guest

Dears
i deposited 5000USD and then i traded i got the profit of 505. i want to close account with them after reviews on the internet. i withdraw 5505$. they only transfered 5000$. and 505$ they didnt and when i asked they informed me that ibecause of some reason it got rejected and i requested once again for the transfer of 505$, they informed that alrady it has been made, i asked for the swift copy, may its almost 20days they replied me that they have requested the bank and they will send me, till now i didnt receive that. I have decided now i am going to take this n=money from them at any cost.
Nosisa,
Johannesburg, South Africa,
Feb 7, 2018,
Registered user

Do NOT trade with FXNET

The WORST company on the face that f this earth! I've been trying to get my money back, they changed my account details now I can't log into the account. I was told to upload my documents again to reopen the account, I did that and still nothing. The consultants have been ignoring my calls and my emails! I'm reporting the company to FICA and FSA, they are playing with people's lives
Reply by FXNet submitted Feb 12, 2018:
Thank you for your comment. We are truly sorry to hear that you had a bad experience with us. Our Clients are our main priority and therefore we apply all measures to ensure that each of our client’s requests are met as soon as possible. If you are not satisfied with our services, please send an email to support@fxnet.com with your client ID number to assist you further.
We look forward to hearing from you.
InkyV,
Pforzheim , Germany,
Dec 17, 2017,
Registered user

Not recommendable

Hi Diana,
I’ve read your message and understand why you feel like that. When i traded in August 2017 with FxNet, i’ve traded with the maximum leverage that the company provides. The first trade was over and I lost over 4000€. After a week I deposit another 5500€ to trade on NVidia, but unfortunately i lost that investment as well.
After i lost 9500€ with these two trades, they send me an email that i violate the term and conditions of the company, and they closed my account. But i want to tell you, that they give me even a single euro back to my account and i’ve never heard from them again. I can send you the email they have send to me, if that be any help to you. I hope you can succeed with your fight against them!!!
Konrad,
Zurich, Switzerland,
Nov 20, 2017,
Registered user


Hi Diana
I tried to trade with FxNet Two weeks ago on the report of NVidia and I also get an alarm about violating their “Terms and Conditions” by abusing the negative balance protection. But I must say that the story that you are telling here is different then what I experienced with them.
I open the trade at 09.11.2017 in around 22:30 but just before the market close, FxNet close my position without my approval and they send me an email about it.
Obviously I was mad because a day later NVidia release their report and the price of the stock went up by more than 5 percent. Which by the way with a leverage of 1:50 could give me a good profit. But they close the trade before any profit was made.
Is it possible that FxNet change their protocol but still mislead their clients by providing fake promises about the leverage?
calito,
Durban, South Africa,
Nov 17, 2017,
Registered user

thank you guys

i joined fxnet a month ago and i had my doubts because of what i read on reviews,was so surprised i made 90% profit and i withdraw half of it,though it took 4 days to reflect on my bank account,i got my money,
Temics,
South Africa,
Nov 15, 2017,
Registered user

Guys watch out!! Fxnet will make you lose all your savings. Happened to me in 3 weeks

Guys I just want to warn you about fxnet, this broker will actually give you all the good stories about them in order to convince you to trade with them. Once you join however it’s a different story... the so called trade specialists will make you lose all your money and when you call people who convinced you to join at the first place their numbers don’t belong to them all of a sudden. My first trade specialist advised me to open few trades nd once they went bad, he told me to either deposit more money or my account will be closed and I’ll lose everything. Next day I get a new trade specialist without fxnet telling me they changing. When I call them they tell me they are busy they’ll call me in 10 minutes, they never call. Next thing my money is all lost due to bad trades they advised me to open. Guys don’t fall for these people they will just make money of you and ignore you once you have lost. I still can’t get hold of them. They are ignoring my calls.
Diana,
Bucharest, Romania,
Nov 14, 2017,
Guest

FxNet new ways of SCAMMING their clients!!!!!!

Few weeks ago I opened 4 trades on First Solar, over whom I had to pay commission of almost 6000 EUR. For that commission FxNet gave me a leverage on 1:100 !!! over my own investment. I succeed to make a profit of almost 80 000 EUR.
So, few days later, I asked for a withdrawl and guess what?????? They told me that my trades have been canceled because I violate their “Terms and Conditions” by abusing the negative balance protection offered by the company and that only my initial investments will be returned. NO PROFIT.
Funny thing is that I lost over 13000 EUR in a previous trade using the same strategy without giving me any single notice that I break their conditions. More than that, they happily took my money and let me do a new deposit.
From the past reviews that I saw I am not the only one that got scammed in similar ways. So tell me, why they keep stealing money without any consequences?? Obviously, I will go further with any legal procedure necessary and I will take any single cent that belongs to me and more! What about you?!?!
Okkie Butler,
Pretoria, South Africa,
Sep 27, 2017,
Registered user

Don't be caught by FXnet!

FXnet will encourage you to invest a large sum of money. Then they give you this crappy advisor calling you 5 times a day to make investments(buy/sell) in Forex. Of course with every transaction they make money. I promise you your whole sum will be depleted within two weeks!! They don't train you at all...
Reply by FXNet submitted Oct 20, 2017:
Dear Okkie Butler,

Thank you for your comment. Our Clients are our main priority and therefore we apply all measures to ensure that each Client is provided with an exceptional customer support, high-end trading technology and excellent trading conditions. If you have any reasons to believe that we have not met our obligations to you, please send us an e-mail to support@fxnet.com   specifying your client number in order to follow up with you personally.

We look forward to hearing from you.
Des Nel,
Kathu, South Africa,
Aug 15, 2017,
Registered user

Forex Scam

Use two different brokers to help me. Do everything that they told me to do and still lost $4400/ R53 000.
Reply by FXNet submitted Oct 20, 2017:
Dear Des Nel,
Thank you for your comment. Our Clients are our main priority and therefore we apply all measures to ensure that each Client is provided with an exceptional customer support, high-end trading technology and excellent trading conditions. If you have any reasons to believe that we have not met our obligations to you, please send us an e-mail to support@fxnet.com   specifying your client number in order to follow up with you personally.
We look forward to hearing from you.
Shereef Ateff,
Caio, Egypt,
Mar 7, 2017,
Registered user

amazing broker

very very amazing broker
fast withdrawals
amazing platform
I an work with it now with more money
very trusted broker
giving 5 stars
Rafaqat Ali,
Lahore, Pakistan,
Jul 12, 2016,
Guest

I think it is not very fair to blame the old fxnet. This company was taken over a few years ago and they have made very big progress as a broker.


I have traded with them since March and they have always allowed me to make withdrawals. To be honest, I have not had to wait for more than 1 day. They are a steady broker and I will continue to use them. I have lost a lot of money to brokers like Ironfx and so far so good with fxnet.
Igor,
Moscow, Russian Federation,
Jun 2, 2016,
Guest

Never open accounts there!. It's a SCAM! They don't withdraw money for 4 weeks and talking rude!
Ramesh,
Chennai, India,
Aug 4, 2015,
Guest

These broker not processing my withdraw for last 10 days.And when email them about these no reply found..so please stay away...
Robert,
Warsaw, Poland,
Aug 3, 2015,
Guest

(Please kindly for removal my reviev of 24 March 2015)

Review Moderation Team Note: The FPA doesn't remove reviews when things change between a trader and a forex company. The FPA does allow reviews to be updated. The old review is nested beneath the new one and only the most recent rating counts.

Broker has collected over 10k Usd from my account 119607. At least 2 points of trading agreement (points 6.3 and 18.2) has been violated by the company.

Despite more than 10 attempts to solve the problem in a polite manner, I didn't get any proposal from the company.

The matter has been reported to the law firm and to debt collection company.

2015-03-24 5 Stars One of the best brokers which I used. I trade with them since almost one year and I never had any issues. Fast execution, no requotes, wide range of instruments.
Raja,
Coimbatore, India,
Jul 27, 2015,
Guest

These broker freezes my account and says account investigation going on even after 1 month they say same message and no progress found...Poor broker stay away.....
Kumar,
Chennai, India,
May 28, 2015,
Guest

New management is good.No issues with deposit and withdraw they make it quicker...thx for the new management.
Silviu,
Bucharest, Romania,
Jan 28, 2015,
Guest

I have a good news!
FXNET have a new management team and they are closing all the issues the OLD management created! This is what an employee told me on the phone on 27th of Jan.

They transferred to my bank account the amount the OLD management stole from me!

I hope that everybody get their money back!

Rgds,
Silviu

2014-12-02 1Star FXNet stole my money!
I had open an account and start trading this year in mid September.In the beginning I lost around 3000 EUR and I had to make a new deposit in order to trade again, which I did. This time I got lucky using the same strategy. They cleared my account "suspecting" as they said "illegal transactions". After 10 days they said that will only give me back my money EXCEPT THE PROFIT. Even today, my profit is in their pockets! So this is their business model, when the client looses they keep the money and when he wins they say he breached the Terms and Conditions to justify not to payout his profits!
FXNET is a SCAM broker!
Monica,
Ilfov, Romania,
Jan 28, 2015,
Guest

FXNET got a new management team!

They are closing the issues that OLD management had got, and they gave me back my money!

I am very sure that discussions with FPA really helped and I wish to thank you all!

Today I saw in my bank account all the money that the old management was trying to steal from me!

An employee from FXNET called me yesterday and explain all the situation to me. Now, I can't erase my warnings but I CAN WRITE THIS POSITIVE MSG about the NEW team they have!

Rgds,
Monica

2015-01-09 1 Star Hello to All!

Last year I traded with FXNET. They accused me of bonus abuse and cancelled my account in November. After long discussions they made a deal to give me 5250 EUR - but to keep 1421.50 EUR for themselves. I have been more then patient with them but now THEY DO NOT ANSWER the phone! So, they stole all my money!!!
DON'T TRADE WITH FXNET!
They're web site is still active!

I can see that I am not the only romanian complaining of FXNET!

I had file a complain on www.cysec.gov.cy, too.

Somebody must help me get my money!!

By the way, some of FXNET employees are now at ACFX!
Should we expect the same from ACFX? In time we will see....
Gregory Black,
Hungary, Hungary,
Jan 22, 2015,
Guest

Dear All,

I've read the reviews concerning the withdrawals. I've managed to get my funds transfered without any hesitation. So far this broker has been fiar towards me and my problems. I hope they get the problem fixed with other clients too. I'm sure the swiss situation had led them to suffer difficulties, but that really isn't their fault. I was satisfied with the job they did and their service has been excellent but sitll, nowadays I'm not sure if my money is safe with them. Once again it might not be their fault.
Aurel,
Brasov, Romania,
Dec 1, 2014,
Guest

FxNet is not Processing withdrawals !

FxNet has become a scam broker! I have been waiting for more than 2 weeks for a part withdrawal of 1950 Euros (out of 3892 Euros). First the 48 hours processing time that is advertised on the website has become 48 business hours which means 6 days for FxNet! I keep asking about my withdrawal and I only hear, "tomorrow", "today" or that someone will call me to tell me when I get my money. Of course it never happened.

The employees don't want to talk to me, they hide as much as they can. They say that they don't work for FxNet anymore, that they are on vacation or sick or that I should contact backoffice or the compliance department. All that just to delay the payment and to avoid contact with me.

I have enough now!

I have heard about several other clients experiencing similar problems and I am thinking of joining them for class action. FPA thank you for this site and please suggest anything that would support our case. FxNet belongs on the SCAM LIST.

So,stay away from this broker.
matthias,
Berlin, Germany,
Dec 1, 2014,
Guest

Problems with FXNet - I am waiting for my withdrawal more than 3 weeks!!!!!
Florian,
Germany, currently visiting, Romania,
Nov 24, 2014,
Guest

***ATTENTION TRADERS AND FXNET CLIENTS*** FXNET IS TRYING TO USE ITS BONUS PROGRAM TO STEAL ALL YOUR MONEY. FIRST THEY GIVE YOU A BONUS AS A PROMOTION AND THEN THEY TAKE IT BACK AND THEN THEY CLAIM YOU ABUSED THE BONUS SO THEY WOULD KEEP ALL YOUR MONEY, DEPOSITS AND PROFITS !!!
IF YOU HAVE BEEN SCAMMED IN THIS WAY BY FXNET PLEASE CONTACT ME at scoony@gmx.com TO ORGANIZE A LEGAL CLASS ACTION (ALL OF US AGAINST FXNET).

FXNet's action is highly illegal and we can hold them responsible.

FPA, please support us in any way you can. Possibily recommend a good law firm in Cyprus or a person at CySec or anything to help stop these scammers. Or is CySec just a fake?

I will pubish all details soon - but here is the best part up front: They accused me of bonus abuse and removed all my deposit and profits - but I DID NOT EVEN HAVE A BONUS (!) and I was trading on their ECN platfom. What do you say now? Is this a scam or what?

If you have also been scammed by FxNet please contact me at scoony@gmx.com
tony,
roma, Italy,
Nov 19, 2014,
Guest

Incorrect broker

To open trading reduces the leverage and increase the spred.
Removes the bonus at open trading.
Delays in payment of more than two weeks.
These signals should not be underestimated.
Discard them