About the company

BelFx Ltd. owns FxNet Ltd., which is situated in Dubai. The firm is regulated by the International Financial Services Commission and provides financial trading services to nations outside of the European Economic Area. Customers may trade 51 different currency pairings, 81 different corporate stocks, and 16 different global stock indexes. Trading in five metals, nine commodities, including energy and agricultural items, and three CFDs on US and German bonds are also available through the firm.

Trading platform

Users get access to the well-known MetaTrader 4, which may be downloaded or accessed using a web browser. It was created with Forex trading in mind, and it offers a data-rich environment with strong market depth and trade history. It also comes with 30 different analytical tools, 50 different customizable indicators, and nine different timeline possibilities.

The firm’s platform may also be used to trade while on the go. The mobile platform is available for free download on any device running Android 4.0, iOS 5.1.1, or above. One-touch trading, three chart styles, and over 30 technical indicators are all included in the app’s sleek, user-friendly design.

Spreads and commissions

The spreads on forex accounts differ based on the account type. The minimal spread for standard accounts is 2.2 pips for EUR/GBP, 1.8 pips for EUR/USD, and 2.1 pips for GBP/USD. Spreads start at 0.2 pips for EUR/GBP and 0 pips for EUR/USD and GBP/USD on a Platinum account. In addition, all transfers are subject to a 1.2 point fee.

Leverage

All account types provide competitive leverage of up to 1:500 for Forex trading. Metals, indexes, and commodities, for example, can be leveraged up to 1: 100, whereas stocks can be leveraged up to 1: 50.

Payment Methods

Visa and Mastercard, Neteller, Skrill, and bank transfers are all acceptable methods of payment. Bank transfers might take up to five business days to complete, but other options are nearly instantaneous.

To withdraw funds from your account, you must use the same method that you used to fund it in the first place. However, any gains must be taken by bank transfer in order to entirely clear the account, which can take three to five business days. The processing time for all other options is up to 48 hours.

Fees apply to deposits and withdrawals, which vary depending on the payment method. Only bank fees apply to wire transfers; however, alternative methods have varying prices, which may be seen on the website.

Regulatory status

The business was originally situated in Limassol, Cyprus, and was licensed by the Cyprus Securities and Exchange Commission, allowing it to provide services inside the European Economic Area. It is now governed by the International Financial Services Commission. However, the examination also discovered a violation of CySEC guidelines, which resulted in a $60,000 punishment and the termination of the company’s license. The sanction was primarily imposed owing to a lack of adequate danger warnings on the website, as well as poor record-keeping. However, we advise caution before creating an account because the broker has been in the press for non-compliance with rules.

Account Types

Individual and business clients can choose from three different accounts. The minimum deposit grows as you progress through the account tiers, while spreads narrow and customer service improves.

Standard account

• Spreads start at 2.3 pips.
• A $50 deposit is required.
• Leverage is available up to 1:500.
• All instruments
• Limited Support
• No commission

VIP account

• Spreads start at 1.9 pips.
• A $10,000 deposit is required.
• Leverage is available up to 1:500.
• All instruments
• Full Support
• No commission

Platinum Account

• Spreads start at 0 pips.
• A $25,000 deposit is required.
• Leverage is available up to 1:500.
• All instruments
• Excellent support.
• 2 points for commission

Demo account

Traders may use a free trial account to acquaint themselves with the platform and broker, as well as test trading methods and chart styles. On the broker’s home page, you may sign up for a demo account.