About FXONET LTD
Company Overview
FXONET LTD is an investment service provider registered in the Comoros, with a registered address at P.B. 1257 Bonovo Road, Fomboni, Comoros, KM. The company was founded on May 29, 2024, and reports zero employees. Its stated offerings include CFD trading on currency pairs, stocks, commodities, and other instruments, as well as a range of business services such as CRM, marketing automation, and content management.
Despite its registration in the Comoros, FXONET LTD operates without any verified regulatory license from a recognized financial authority. This lack of oversight is a significant factor for traders to consider when evaluating the broker's trustworthiness.
Regulation and Licensing
Our research has found that FXONET LTD does not hold a valid license from any major financial regulator. The company is registered in the Comoros, which is not known for stringent financial oversight. This means that clients have no access to investor compensation schemes or regulatory dispute resolution mechanisms. The absence of regulation is a critical red flag that should be weighed heavily by potential users.
Products and Services
According to its company description, FXONET LTD offers CFD trading across multiple asset classes, including currency pairs, stocks, and commodities. The broker also promotes additional services such as CRM and relationship management, marketing automation, content and social media management, and CPO (Configure, Price, Quote) handling. However, specific details on trading conditions—such as spreads, leverage, and fees—are not disclosed in the information provided.
Account Types and Platforms
FXONET LTD does not publicly specify the account types or trading platforms it offers. Based on available information, it is unclear whether the broker provides standard, premium, or Islamic accounts, or which third-party platforms (such as MetaTrader 4/5) are supported. Traders would need to contact the broker directly for these details, but given the negative reviews, caution is strongly advised.
Funding and Withdrawals
No information has been provided regarding the deposit and withdrawal methods accepted by FXONET LTD. The broker does not list payment options such as bank transfers, credit cards, or e-wallets. User reviews, however, indicate that the withdrawal process is a significant pain point, with many reporting that funds are blocked or that the broker demands additional deposits before allowing any payout. This pattern is consistent with scam operations.
Customer Support
Details about customer support channels are not available from the official data. Negative reviews mention that support responses are vague and unhelpful, particularly when clients attempt to resolve withdrawal delays or account verification issues. The lack of transparent contact information further compounds the risk for traders.
Conclusion
FXONET LTD is a newly established broker based in the Comoros with no verified regulation. While the company claims to offer CFD trading and additional business services, the absence of transparent trading conditions, platform details, and funding methods makes it difficult to assess its offerings. Combined with numerous user complaints about withdrawals and suspected fraud, the broker presents a high risk for any trader.
Overview compiled by FXCanary from regulatory records and public data. full FXONET LTD review