Trusting suspicious offshore brokers is not the best idea, as they most often turn out to be scams. Fxonet Ltd is trying to attract traders’ attention by copying the website template used by other platforms. However, the company forgot that to attract clients, it must first offer guarantees of reliability, and there are none here. Moreover, there are almost no reviews online.
The company used a generic template to create its official website. We have seen this type of design many times, and it has always turned out to be associated with fraudulent platforms. It is unlikely that Fxonet Ltd is any different from its counterparts.
The color scheme is bright and aggressive: blue and white, neon blue, and a stark contrasting font. The images include photos of a smiling man in a suit, charts, device renderings, and phones — everything looks like stock images from a standard broker template set.
The website is overloaded: many sections, banners, promises, and requirements, yet almost no real documents, reports, or demonstrations. There is a menu, but nearly all sections are marketing and sales rather than actual information. Promises of “security”, “professionalism”, “modern standards”, “trust accounts”, “investment banks”, “PCI/SSL”, and “global reach” appear everywhere. Yet there is not a single specific bank mentioned, no name of the supposed “investment-grade bank”, no examples, and no links to documents. The message is essentially “you can trust us”, but the basis for that trust is completely unclear.
Fxonet Ltd lists an offshore legal address and a license from MISA — nothing more. The “About Us” section could be deleted entirely, and nothing would change. There is no founding date, no explanation of the business model, and no information about who owns the organization.
The appearance of the official website makes the templated and unserious nature of the project obvious. The broker does not differ in any way from thousands of other unlicensed platforms that offer no guarantees of reliability.
The contact information is basic. Fxonet Ltd provides an email address, a phone number, and an online chat button located on the right side of the page. This is the bare minimum, yet there are no messengers or social media accounts — channels that every modern, client-oriented company maintains.
Next, let us examine all the trading conditions in detail. Fxonet Ltd requires a minimum deposit of 250 dollars, which is typical for most fraudulent companies. For some reason, many illegal brokers choose this exact entry threshold.
The leverage is 1:200. This level is normal for unregulated CFD companies, since no authority, such as the CySEC or the FCA, would ever allow it. The number of available trading instruments exceeds 300. There are also four account types, differentiated primarily by their minimum deposit requirements. If 250 dollars seems acceptable for the first plan, the next tiers are absurd. For example, to activate the second account type, you must deposit 25,000 dollars, and the top account requires 250,000 dollars. Why an offshore company needs such enormous deposits is a mystery.
The spreads start from 3 points on EUR/USD. At the same time, Fxonet Ltd promises zero commission, and here lies the catch. How does the firm earn money if the commission is zero and the spreads are so narrow? It earns from client losses. This is a direct conflict of interest. The broker profits when you lose, because it operates as a dealing desk. This is a major red flag. The organization does not route trader orders to liquidity providers and does not hedge them in any way.
The most interesting part lies ahead. Now we will examine legal data, licenses, operating history, reviews, and other aspects we can uncover.
If we open the registry of the Mwali International Services Authority (MISA), we do indeed see a company named Fxonet Ltd with license BFX2024049, registered in March 2024. However, there is a major issue.
The MISA registry lists the company’s official website as fxonetltd.com, while the project we are reviewing operates under the domain fxonet.my, which is not found in the registry. This is a critical point. The domain discrepancy means only one thing — this is an impersonator. The license is being used by a website that is not listed in the official registry. In other words, fxonet.my is a “fake broker” that stole the name of a legally registered company in Mohéli and is pretending to be it. To any professional, this is a 100 percent sign of a scam. A legitimate and honest broker would never operate under a domain that differs from the one registered with the regulator.
It turns out that the subject of our review has taken someone else’s name and is hiding behind someone else’s registration data and licenses. This all means one thing: illegal activity, or, more precisely, fraud.
Even if we look at the real company, its license was issued only in March 2024. This means the platform is extremely new. It was created for short-term scamming. There is no experience and no proof of time-tested operation.
Reviews of Fxonet Ltd can be counted on the fingers of one hand. A serious and safe company with real operations gathers hundreds or even thousands of reviews within its first few months. Here, there are no discussions, no client history, and no real user experience. This is exactly how every short-term offshore scam project looks — created to operate briefly and never intended for long-term work.
Nothing new: stolen data, fake operations, no reliability guarantees, and a full set of negative indicators. This is why we recommend not even considering Fxonet Ltd. It is a scam broker.
Helen always knew that her passion for journalism was more than just a hobby. It was a potential career. She began her professional journey at a local newspaper in the small town where she was born. Writing on a variety of topics, from local news to financial reviews, her persistence and investigative talent soon caught the attention of editors at larger publications. We are thrilled that Helen accepted our offer and now writes for fincapital-reviews. Her exposés always create a buzz. Sometimes, we think Helen could easily open her own detective agency.
Lol, this is an extremely obvious scam. You do not even need trading experience to see that this is a fake company. There is not a single sign of safety. Where is the license? Where is the founding date? Where are the financial statements and banking details? There are not even any reviews online. This is laughable
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