FxNet

  • Name:FxNet
  • Website:http://www.fxnet.com/
  • Location:Cyprus
  • Found in:2012
  • Regulation Authority:CySEC (Cyprus)
Editorial Rating:
3.47
Accept US Traders:
No

FXNet.com

Located in Cyprus amongst a sea of competing Forex brokers, FXNet is a company which attempts to separate itself from the crowd with one overriding policy: “integrity first”. Pitched as a true STP (Straight Through Processing) broker with no conflict of interest between itself and its members, FXNet is able to offer a transparent trading platform and values customer security above all else.

Indeed, while many online trading platforms will tout lucrative bonuses or tight spreads as their major selling points, FXNet makes sure its customers’ core funds are safe. Giving people the means to make a lot of money is obviously every broker’s aim, but if their money isn’t safe it’s almost pointless.

With this in mind FXNet has held all its traders’ funds in segregated accounts since the company’s inception in 2012. Banking with one of the world’s top banks, Barclays, also provides an added layer of security and peace of mind for all FXNet.com members.

FXNet.com’s Special FX:

Continuing FXNet.com’s “no risk trading” theme, all prospective members can take advantage of a monthly demo account competition which carries a total prizepool of $500. Open to all new practice account holders, the contest doesn’t cost anything to enter and in addition to learning then nuances of FX trading, users can earn anything from $50 to $250 in trading credit if they can beat their peers.

In addition to regular demo contests, FXNet also offers regular deposit bonuses ranging from 50% to 100%. Even more attractive than these welcome bonuses is a 15% account rescue payment. Designed to help novice traders claw back some of the money they lose in the initial stages of their career, a 15% rebate is given to any user who loses all of their initial deposit.

The Essentials:

FXNet.com’s platform is a tale of two accounts with one aimed squarely at novice traders and the other at professionals. Indeed, with the help of MetaTrader 4, FXNet is able to offer a standard account with a minimum deposit limit of $5 and a VIP option with an entry fee of $10,000+.
Depending on which account a users chooses, the following conditions are on offer:

Standard Account:
Minimum account size = $5
Minimum position size = 0.01 lot
Fixed spreads from 2.8 pips.
Scalping and Expert Advisors are allowed.
Leverage = 1:500
Digits quoted after the comma = 5
Margin call level = 50%
Stop-out level = 20%
Minimum distance to stop/limit orders = 4 pips
Number of currency pairs available = 25

VIP Account:
Minimum account size = $10,000
Minimum position size = 0.01 lot
Fixed spreads from 2.3 pips.
Scalping and Expert Advisors are allowed.
Leverage = 1:500
Digits quoted after the comma = 5
Margin call level = 50%
Stop-out level = 20%
Minimum distance to stop/limit orders = 4 pips
Number of currency pairs available = 25

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fxBrokerSearch.com does not support nor encourage the execution of any investments. Trading with a margin is high risk endeavour and not suitable for everyone, therefore, each investor should carefully consider all relevant trading conditions, such as experience, risk and cost, before taking part in any type of trading, including Forex.

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This means advertised prices may not be accurate and could differ from the actual market conditions. For this reason it is not appropriate to rely on any data presented by fxBrokerSearch.com for the purposes of trading.

Based on these conditions, fxBrokerSearch.com will not be held responsible for any losses incurred through trades conducted in light of data presented on this site.