FxOnUs is a UK-based Forex and cryptocurrency broker. The Marshall Islands-based firm was founded in 2016 and provides a wide range of tools, educational resources, and account types. According to the website, there are no country restrictions, meaning that the broker is happy to open accounts for people of any nationality. FxOnUs claims to have over 470 instruments in its portfolio, which include a variety of financial markets, sectors, and asset classes.
FxOnUs provides its clients with the highly popular and sophisticated MetaTrader 4, which is free to download and install on both Windows and Mac computers. The design, which was first introduced in 2005, may appear a touch old, but it is still as useful as ever. It includes a simple, user-friendly design that makes it simple to monitor the market or examine your purchase history.
Trading is straightforward and intuitive, and the platform is jam-packed with features to make your trading experience even better. It features a trading algorithm that is linked to internal charts. This enables the system to trigger real-time events and notify you of upcoming events. Furthermore, there are several technical indicators and charts available to assist you in analyzing the market before making trades.
Clients of FxOnUs may use the MT4 mobile trading app, which has many of the same capabilities as the desktop and online versions. Users may effortlessly open and terminate transactions while on the move, as well as see and deposit cash. The app also includes all of the same technical indicators and charts as the desktop version, allowing users to examine the market while not trading, which is excellent for a fast-paced market like forex.
Regulation and licensing
Marketonus Ltd., the company that owns FxOnUs, is based in the Marshall Islands. A link to the Republic of the Marshall Islands and the Corporate Registrar is available on the broker’s website, however, it leads to an error page. It’s also worth mentioning that the Marshall Islands have no regulator that can provide forex trading licenses. FxOnUs is an unlicensed broker, which does not necessarily imply that it is a fraud, but it should be avoided.
There are three types of accounts available at FxOnUs: standard zero bonus, standard 50% bonus, and ECN account. Each account has the same minimum deposit, minimum trade (lot) size, and maximum leverage. The incentives provided, as well as the spreads and commissions charged, are all different. Standard accounts offer spreads ranging from 1.1 pips for a zero bonus to 2.5 pips for a 50% bonus and do not charge a fee. A fee of $ 10 is required for each lot traded on the ECN account and spreads start at 0.2 pips.
Spreads and commission
The three account categories on FxOnUs have different spreads and fees. The basic account with no bonus has spreads starting at 1.1 pips and no fee, but the standard account with a 50% bonus has spreads starting at 2.5 pips and charges commission. Spreads start at 0.2 pips on an ECN account, with a fee of $ 10 per lot. Other trading-related commissions are not charged by the firm.
FxOnUs offers maximum leverage of 1: 500 to its traders, while they can choose lesser rates to reduce risk. You may trade with a leverage of 1: 500, which means you can put in $100 and trade with $50,000. While this increases your chances of winning, it also increases your chances of losing. As a result, extreme caution should be used while dealing with an unregulated broker.
FxOnUs requires a minimum investment of $100. The broker does not charge any additional fees for deposits, while payment service providers may impose costs. Deposits are often handled immediately, however, bank transfers may take one to two business days. Deposits can be made in a variety of ways, including:
- China UnionPay
- Bank transfer
- Credit card
- Debit card
There is no minimum or maximum withdrawal amount. FxOnUs also does not mention any additional withdrawal costs. Withdrawals and transfers of monies must be made to the same bank account or electronic payment system as the deposit, and the same bank account or electronic payment system. Funds can be withdrawn to a bank account in the client’s name if the method cannot be utilized to withdraw funds. Withdrawals normally take one to five days to process. Withdrawals can be done in the same ways as deposits.
Deals and promotions
FxOnUs gives a 50% deposit incentive to its customers. The deposit must be greater than $ 500 to be eligible for the program. This money cannot be removed right away; it must first be made profitable before it can be withdrawn. Furthermore, the broker provides all consumers with free deposits.
FxOnUs provides a dedicated education area with e-books and videos to help you learn how to trade properly. It also includes a glossary that covers many of the words associated with FX and trading.
- Tight spreads
- High leverage rates.
- Access to the MT4 platform
- 50% deposit bonus
- Range of currency pairs
- Cryptocurrency trading
- •Payment Methods.
Our research revealed the following disadvantages of trading with FxOnUs:
- Not regulated
- Offshore broker
- No demo account