FxNet – a broker with wide range of forex pairs harmed by inconvenient fees

FxNet.com is a forex broker that offers CFDs on stocks, commodities, indices, bonds and cryptocurrencies in addition to currency pairs. Learn more about CFDs here. FxNet Ltd is a company licensed in Europe by the regulatory authority CySEC, thanks to which it can legally offer its services in Europe. The minimum spread for the EUR/USD currency pair is 2.3 pips, and the minimum deposit is set at $50. The broker’s website is available in 12 languages.

FxNet Review – Broker overview

Minimum deposit	50 USD
Platform	MT4
Regulated broker	Yes
Regulations	CySEC
Demo account	Yes

Special features and advantages

Automatic Trading (EAs)

Trading platform

FxNet offers its clients the MT4 trading platform. It is very well known in the forex world and is commonly used not only for closing but also for analyzing the market or for automated trading. On this platform, the broker offers access to approximately 200 trading instruments.

FxNet fees (spreads)

Just like any other CFD broker, FxNet charges a spread fee. For the current value of this fee, please visit the FxNet website. We have prepared a small comparison table here, where you will find the amount of FxNet spread fees on popular currency pairs compared to 2 other popular CFD brokers. However, there also other fees, such as when depositing or withdrawing funds (find more below the table in the Summary section)

EUR/USD	EUR/USD	USD/JPY	GBP/USD	AUD/USD
Plus500*	0.6	0.7	1.1	0.6
XTB*	0.8	1.4	2.0	1.7
FxNet**	2.3	2.4	2.5	2.4

FxNet – Review summary

FxNet must comply with the strict regulatory guidelines of the CySEC regulatory authority. The broker offers a wide range of forex pairs, but the spreads that FxNet charges on these assets are not exactly low and can hardly compete with the spreads of other popular CFD brokers.

In addition to spreads, FxNet also charges huge fees when depositing and withdrawing. When you use your card to deposit funds, the broker will charge you a full 3% of the deposited amount and then do the same for withdrawals. For other payment methods, the fees are slightly lower, but not by much.

Advantages

• Relatively strict regulation
• Wide choice of currency pairs
• Quite low minimum deposit

Disadvantages

• Not really good spreads
• High fees when depositing or withdrawing

FxNet Review – Broker rating