Brief informationFxonet Ltd
Digital broker Fxonet Ltd positions itself as a platform for CFD transactions. The intermediary claims to be registered under number HA0032474 in the Comoros Islands. Its legal address is 1257 Bonovo Road, Fomboni, Comoros, KM. Fxonet Ltd broker also states that it is accredited by the offshore regulator MISA. Document number is BFX2024049.
However, the official website fxonetltd.com does not contain a registration certificate, a copy of the license, or links to the relevant registries. The company also does not disclose the year it entered the market or the names of its directors and founders.
The Fxonet Ltd broker communicates with traders via email at info@fxonet.com and through a contact form.
Fxonet Ltd trading terms
The intermediary offers seven categories of financial instruments:
Forex;
ETFs;
commodities;
metals and energy resources;
stocks;
cryptocurrencies;
indices.
Depending on the asset, broker fxonetltd.com promises leverage from 2x (for digital currencies) to 400x (for national currencies). The company also announces the minimum trade size, dates, and rollover calculation rules for index and commodity futures. Information on spreads, swaps, and trading hours is missing. The platform states that it does not charge commission from clients
Regarding margin conditions, the intermediary warns that it is not obligated to notify clients of margin calls. Stop-out levels range from 20% to 100% of the margin level.
The trading terminal used by broker Fxonet Ltd is unknown. Nothing is said about the model, types, or order execution speed. There is also no information about software availability on different devices, or the availability of a user manual.
Trading accounts at Fxonet Ltd
The company has no trading accounts and does not provide information about the entry threshold. However, it does mention a bonus system. For example, Fxonet Ltd broker promises to double the deposit amount of $5,000 or more.
Registration and personal account on fxonetltd.com
The broker's website does not support the procedure. Login to your Fxonet Ltd account is likely performed through a third-party resource. You can inquire about the procedure with support.
Deposits and withdrawals with Fxonet Ltd
The broker’s clients make payments using these methods:
bank cards (withdrawal fee 3.5%);
bank transfer (30 CHF/USD/EUR/GBP);
e-wallets (1.5%-4.5%).
The intermediary also imposes account inactivity fees, which can reach €1,000 per month if the account has not been used for one year. However, the company doesn't disclose the minimum and maximum deposit and withdrawal amounts for Fxonet Ltd or the processing time for requests. You can inquire about this with support.
Conclusion about Fxonet Ltd
The firm was unable to prove its legality due to the lack of a registration certificate and copies of licenses. Its website doesn't support registration and doesn't provide information about important trading conditions or the technical specifications of the trading terminal. Reviews of Fxonet Ltd. will help you assess the risks facing the broker's clients.
