FxNet overview

FXnet is an international Forex broker registered in Limassol, Cyprus. It was founded in November 2012. For the several years of its activity the company has extended its influence on the European market. Moreover, recently (in 2014) it has entered the CIS market and according to the feedbacks has found “its own customer”. The popularity of FXnet broker is conditioned upon two factors: working under European licenses and meeting the requirements of the modern trader. We are talking about super quick order execution and modern technologies introduction.

Regulation

According to the market feedbacks about any Forex broker traders care deeply about the questions of security. Without being an exception to the rule, FXnet has certain advantages as it is regulated by CySEC, the Cyprus Securities and Stock Exchange Committee. It should be mentioned that CySEC controls a severe conformity of the activity of all the financial organizations to the European legislation as well as requires their participation in MiFID and ICF, the investors’ compensation funds.

Besides, while extending its influence in European countries FXnet Forex broker obtained the licenses issued by the following regulators: FSA (Great Britain), BaFin (Germany), ACP (France), CNMV (Spain), Finanstilsynet (Norway), and AFM (Netherlands). It should also be underlined that each regulator requires the segregation of customers’ funds that is why traders can be sure that their funds are allocated on separate secured accounts and are not mixed with the FXnet’s own assets.

Awards

Despite the short period of its activity FXnet Forex broker has already managed to receive two prestigious awards which potential customers should be aware of. The first one, the Best Newcomer Broker, was given to FXnet in 2013. The second one, the Most Trusted Broker, was obtained by the company in 2014. These awards confirm the intention of FXnet management to create stable and reliable company for the long-term and successful activity.

Trading conditions

FXnet offers to use MT4 popular terminal that provides traders with traditional variations for standard PC, Android based mobile devices and iOS based iPhone and iPad. Moreover, it offers MAM (Multi Account Management) for the licensed stock managers and MT4 Multiterminal which allows maintaining several accounts from one trading platform.

Among the available trading instruments there are nine basic and more than twenty secondary currency pairs, eight international indexes and twelve raw commodities. The trading activity is conducted according to STP (NDD) scheme; time of order execution is 5 mc for ordinary server and 2 mc for VPS. High-quality fulfillment and trading model excluding any conflicts of interest between the broker and its customer are the factors that make FXnet an excellent broker which can carry out different trading strategies from scalping and news trading to hedging.

Trading accounts

Apart from traditional demo account FXnet offers three more accounts: Standard, VIP and Platinum. Each trading account can use the leverage up to 1:500. The type of order execution all the accounts apply is Market Execution. The major difference between the accounts lies in the spread size. Spread for the Standard account makes up 2.3 points and more, for the VIP account – from 1.9 points. Platinum accounts can work without any spread or the spread can be zero for the popular currency pairs. However, owners of platinum accounts pay additional fee of 12 USD per one trading lot.

You should choose your trading account taking into consideration your trading sum. So, you need 50 USD to open the Standard account, 2000 USD – to open the VIP account and 5000 USD – to open the Platinum one. Moreover, FXnet allows Muslims opening Islamic accounts after they confirm their Islamic confession by loading scanned birth or residence certificate to the official website of the broker. As it was mentioned above, FXnet offers MAM and corporate trading accounts for legal persons.

VPS

The FXnet customers can use a free virtual private server (Great Britain). However in order to access it the trader should deposit the amount of not less than 2000 USD or their equivalent in any other acceptable currency such as Euro, Great Britain Pound or Yen. It is the condition that allows the client using VPS directly connected to CFxNet. This guarantees the quickest execution of the trading orders. According to the customers’ positive feedbacks it is very useful while applying scalping or news trading when a split second influences the final profit.

Technical analysis

Technical Analysis Section helps improve the trading results. Here the experts publish daily short and burning reviews that help follow the current trends. Customers’ feedbacks confirm that thanks to the activity of the FXnet experts the traders can increase the efficiency of their activity.

Education

Education Section on the FXnet official website is likely to be designed for introducing the web resource itself. Among the useful information here you can find a glossary of the terms the trader can face while working on Forex, online currency quotes and an economic calendar for the broker’s clients not to miss any important event.