Brief informationFornaxeng
The brokerage intermediary Forn Xeng began its operations in 2017, aiming to provide various financial services worldwide. The broker operates through two domain addresses:
- fornaxeng.com
- forn-xeng.co
According to information on the site, the intermediary holds several licenses from independent financial authorities, such as ASIC, FCA, DFSA, and CySEC. However, detailed licensing information is only provided for CySEC (license number 371/13).
The key advantages highlighted by Forn Xeng include:
- Experienced specialists;
- Individual approach to each client;
- Guaranteed service quality;
- Cooperation with international liquidity providers;
- Low commissions;
- Modern trading tools.
Forn Xeng also offers several internal licenses clarifying the platform's operations and the terms of cooperation. The company’s legal address is:
Herrengasse 1/3, 2nd and 3rd floor, 1010 Vienna.
For customer support, you can reach them via email: support@fornaxeng.com.
Trading Conditions at Forn Xeng
Forn Xeng’s trading terminal provides access to various markets, including currencies, stocks, and cryptocurrencies. It features analysis tools such as charts, indicators, and built-in strategies. The interface is designed to be compatible with all devices, allowing users to trade in any convenient format. Orders are processed quickly, and automation options are available. Enhanced security measures ensure the protection of users' data and funds.
Account Types at Forn Xeng
The platform offers several types of accounts, each tailored to meet different levels of trader experience and needs:
Beginner Account
- Designed for new traders
- Basic access to core markets
- Minimum deposit: $1,000
Standard Account
- Suitable for more experienced users
- Provides advanced analytics tools
- Enables cryptocurrency trading and opening a PAMM account
- Minimum deposit: $25,000
Master Account
- Tailored for high-level traders with demanding needs
- Includes exclusive services such as ETF and index trading, deposit insurance, and personal support
- Minimum deposit: $50,000
All account types support instant order execution and offer the option of leveraged trading.
Deposits and Withdrawals at Forn Xeng
Depositing funds on the Forn Xeng platform can be done through bank transfers, e-wallets, and other available payment systems. The minimum and maximum deposit amounts depend on the selected account type. All deposits must be made through the payment methods listed on the website, with funds credited according to the company’s internal exchange rate.
Withdrawals are only processed using the same payment method originally used for the deposit. The company reserves the right to refuse withdrawal requests if the user violates the platform's rules. Withdrawal requests are processed within two business days, and any transfer fees are the responsibility of the client.
Conclusion on https://forn-xeng.co
While Forn Xeng claims to hold several licenses, the only detailed regulatory information provided is from CySEC, raising concerns about the broker’s overall compliance. The high minimum deposits and the possibility of withdrawal refusals create barriers for accessibility, while fees and potential delays in processing withdrawals detract from the platform’s convenience. Prospective users should carefully review the broker’s policies before engaging with the platform.
