FxOnUs Review 2021
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|FxOnUs Facts & Figures|
FxOnUs is a forex, crypto, stocks and commodities broker offering leveraged trading products on more than 450 assets.
|Bonus||50% Loseable Bonus|
|Instruments||Forex, Crypto, Stocks, Futures|
|Payment Methods||Credit Card, Debit Card, Neteller, Skrill, UnionPay, Wire Transfer|
|Min. Trade||0.01 lots|
|Mobile Apps||iOS & Android|
FxOnUs clients can trade a wide range of currency pairs, including major, minor and exotic couplings.
FxOnUs supports cryptocurrency trading on the world-renowned MT4 trading platform, pegging each crypto against USD
FxOnUs is an offshore broker that focuses on forex and cryptocurrency CFD trading. The firm was established in 2016 in the Marshall Islands and boasts a range of instruments, educational content and account types. This 2021 FxOnUs review breaks down the broker’s assets, regulation, payment methods, platforms and more.
FxOnUs is a relatively new broker, only established in 2016. It is owned by the company Marketonus Ltd, which is registered in the Marshall Islands. The website claims links to the UK registered company Yorkshire HG Ltd., though this company does not appear on the UK business register. The broker’s website gives a link to the Republic of Marshall Islands and Corporate Registries, which leads to an error page. Even so, the Marshall Islands does not have an FX regulator, confirming FxOnUs as an unregulated broker. According to the website, there are no restrictions on any country, which means that the broker is willing to open accounts with citizens of any nationality.
FxOnUs offers the vastly popular and powerful MetaTrader 4 (MT4) to its clients. MT4 was designed specifically for forex trading, though it still supports other instruments, such as CFDs. MT4 is available for both Windows and Mac and is free to download. Having been released in 2005, the design can seem a little dated but it is as functional as ever. It has a user-friendly interface that is easy to navigate, whether you want to check the market or see your order history.
Opening and closing trades is simple and intuitive and the platform is packed with heaps of features to improve your trading experience. It has an algorithmic trading system that links to internal charting. This allows the system to run events in real-time and remind you of planned events. Also, there are lots of technical indicators and charts to help you analyse the market before making trades.
FxOnUs claims to offer over 470 instruments, covering many financial markets, industries and asset classes. While no information is provided regarding the individual instruments, those offered are categorised as follows:
- Spot Metals
- Spot Indices
- Spot Commodities
Spreads & Commission
The spreads and commissions offered on FxOnUs vary between the three account types. The standard zero-bonus account has spreads starting from 1.1 pips and does not charge any commission, while the 50% bonus standard account has spreads that start at 2.5 pips. The ECN account has spreads starting from 0.2 pips and charges a commission of USD 10 per lot. The firm does not charge any other trading related fees.
FxOnUs offers maximum leverage of 1:500 for its traders, though traders can opt to use lower rates for less risk. Trading with 1:500 leverage means that you can put down $100 and trade with $50,000. While this can magnify winnings, it will also increase losses. Therefore, caution must be taken, particularly when trading with an unregulated broker.
FxOnUs clients can access the MT4 mobile trading application, which includes many of the same features as the desktop and web-based clients. Users can easily open and close trades while on the move, as well as view their order history and deposit funds. The app also has all the same technical indicators and charts, allowing users to analyse the market while they are out, which is ideal when trading in a fast-paced market like forex.
The minimum deposit at FxOnUs is $100. The broker does not charge any additional fees for deposits, though fees may be incurred from payment providers. In many cases, deposits are processed instantly, though bank transfers can take one to two business days. Deposits can be made via the following methods:
There is no minimum withdrawal amount or limit. Moreover, FxOnUs does not specify any additional withdrawal fees. Withdrawals and transfers of funds must be performed using the same method as was used to make a deposit and it must be to the same bank account or electronic payment system. If the method cannot be used for withdrawals, then funds may be withdrawn to the bank account in the clients’ name. Withdrawals are typically processed within one to five days. Withdrawals can be made via the following methods:
- China Unionpay
- Bank transfer
- Credit Card
- Debit Card
Deals & Promotions
FxOnUs offers a 50% deposit bonus to its customers. To qualify, the deposit must be greater than $500. It is not possible to withdraw these funds straight away, they must be earned as profit before they can be withdrawn. On top of this, the broker offers fee-free deposits for all users.
Regulation & Licensing
FxOnUs, and its owner Marketonus Ltd., is registered in the Marshall Islands. The broker’s website provides a link to the Republic of the Marshall Islands and Corporate Registries but it leads to an error page. It is also worth noting that the Marshall Islands does not have a regulator that can give forex trading licenses. FxOnUs is an unregulated broker, which does not necessarily mean that the broker is a scam, though caution should be taken.
The FxOnUs website features a dedicated education centre, which includes eBooks and videos designed to teach you how to trade effectively. On top of this, it has a glossary covering many terms related to forex and trading.
At FxOnUs, there are three account types to choose between, the standard zero bonus account, the standard 50% bonus account and the ECN account. The minimum deposit, minimum trade (lot) size and maximum leverage are the same for each account. The differences relate to the bonuses offered and the spreads and commission charged. The standard accounts charge no commission and have spreads starting from 1.1 pips for the zero bonus and 2.5 pips for the 50% bonus. The ECN Account charges a commission of $10 for each lot traded and has spreads starting from 0.2 pips.
- Tight spreads
- High leverage rates
- MT4 platform access
- 50% deposit bonus
- Range of forex pairs
- Cryptocurrency trading
- Range of payment methods
Our research flagged these disadvantages of trading with FxOnUs:
- Not regulated
- Offshore broker
- No demo account
As a forex broker, the trading hours at FxOnUs match the standard forex session. This runs from 22:00 GMT on Sunday to 21:00 GMT on Friday. However, cryptocurrency markets run 24/7 so clients interested in these assets can trade any time of the day and week.
Should you encounter any issues while trading, it is important to be able to contact FxOnUs. Customer support is available 24/7 via the following methods:
- Phone No.: +44 2031501511
- Email Address: email@example.com
Safety & Security
Information regarding the safety of funds at FxOnUs is relatively vague. It is not clear what protections are given or whether the broker offers negative balance protection. The firm is also unregulated and provides incorrect information regarding its links to the UK and Marshall Islands company registries.
FxOnUs is a forex, equity and derivatives broker registered in the Marshall Islands offering almost half a thousand assets on the renowned MT4 trading platform. Clients can access leverage rates up to 1:500 and spreads as low as 0.2 pips. There is also a 50% deposit bonus in place to welcome new customers. However, the broker is not regulated and there is little information on the website, indicating that it may not be the most scrupulous of firms.
FxOnUs accepts traders from Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, Norway, United Arab Emirates, Saudi Arabia, Kuwait, Qatar and most other countries.
Traders can not use FxOnUs from United States, Japan, Australia, Austria, Belgium, , Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Sierra Leone, Spain, Sweden.
Alternatives to FxOnUs
If you are looking for alternatives to FxOnUs we have compiled a list of the top 5 brokers that are similar to FxOnUs below. This list of brokers like FxOnUs is in order of similarity and only includes companies that accept traders from your location.
- Rockfort Markets – Rockfort Markets is a New Zealand broker with a competitive range of assets, trading platforms and market conditions.
- Forex.com – Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer very tight spreads and a cutting edge platform.
- eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
- EagleFX – EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.
- Exinity – Exinity provides flexible low-cost trading in FX, commodities, indices and equities alongside unique education and support provided by teams located across the world. Now operating in the Middle East, through regulation from the Financial Services Regulatory Authority in Abu Dhabi and the Financial Services Commission of Mauritius, Exinity provides a range of services to traders and investors looking for new opportunities in the financial markets.
How Much Capital Do I Need To Trade With FxOnUs?
The minimum deposit at FxOnUs is $100. Users can trade freely after depositing this amount.
Where Is FxOnUs Regulated?
FxOnUs is an unregulated broker, so caution should be taken as the firm does not answer to a governmental agency.
What Assets Does FxOnUs Offer?
FxOnUs offers a range of forex currency pairs, cryptocurrencies, commodities, shares and futures assets.
What Countries Can Trade With FxOnUs?
The broker offers its services to most countries, excluding the US, Japan, Australia and any countries within the EU.
What Leverage Does FxOnUs Offer?
FxOnUs offers maximum leverage of 1:500. This can magnify winnings but also increase losses, so take care when trading on margin.
|FxOnUs is a forex, crypto, stocks and commodities broker offering leveraged trading products on more than 450 assets.|
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