FXON Forex Broker

FXON Review SummaryFounded2005Registered Country/RegionSeychellesRegulationFSA (Offshore regulated)Market InstrumentsForex, CFDs on cryptos, index, stocks, metals, energyDemo Account❌Spread1.5-2.5 pips (Standard account)LeverageUp to 1000xTrading PlatformMT4, MT5Minimum DepositUSD 100 or equivalentCustomer SupportInquiry form, live chat, FAQSocial media: Twitter, Instagram,YouTube, LinkedIn, TiktokAddress: F2-2A, Oceanic House, Providence Estate, Mahe, SeychellesRestricted RegionUnited StatesFXON Information FXON is a Seychelles-beased brokerage company who focuses on trading services in forex and CFDs in commodities, indices, cryptocurrencies and stocks. It offers the industry-leading MetaTrader 4 and 5 platforms to enhance customer trading experience. Minimum deposit is affordable at USD 100 or equivalent, friendly to even beginners. And the broker implements fund segregation to separate client funds from their operational accounts. What's more, damage insurance in the event of a data leakage or disaster is also available to protect customer data. The good thing is that the company is regulated by FSA, which means its financial activities are strictly watched by these authorities, to some extent guarantees a certain level of customer protection. However, you should be cautious because the FSA regulation is offshore only.Pros and ConsPros Cons Rich educational resourcesOffshore FSA regulationMT4 and MT5 platformsNo demo accountsData leakage insuranceFund segregationAffordable minimum depositIs FXON Legit? FXON is currently being well regulated by FSA (the Seychelles Financial Services Authority) with license no. SD091. However, one fact that you should not neglect is that the SFA regulation is offshore only, which indicates less grasp by the authority.Regulated CountryRegulatorCurrent StatusRegulated EntityLicense TypeLicense No.FSAOffshore RegulatedFXON LtdRetail Forex LicenseSD091What Can I Trade on FXON?Trading InstrumentsSupportedForex✔CFDs✔Cryptos✔Indexes✔Stocks✔Metals✔Energy✔Bonds❌Options❌ETFs❌ Account Type & Fees There are two live accounts to choose from FXON: the Standard account for beginners and Elite account for professionals.Account TypeMinimum Deposit Spread CommissionSuitable for Standard USD 100 or equivalent1.5-2.5 pips❌BeginnersElite0-0.8 pips$3 orequivalent per tradeProfessional tradersLeverage While the broker offers leverage up to 1000x, traders should use leverage cautiously and choose the product that best suits their experience levels to avoid huge losses.Trading Platform FXON claims to use the world renowned MetaTrader 4 and 5 platforms, which are well-recognized by its advanced charting tools and robust functionalities. You can reach the platform on web, or download app from Windows, mobiles phones and Mac.Trading PlatformSupported Available Devices Suitable forMT4✔Web, mobile, Windows, MacBeginnersMT5✔Web, mobile, Windows, MacExperienced tradersDeposit and WithdrawalDeposit FXON supports deposits via local and international bank transfers, as well as cryptocurrency. Deposits are generally free of charge if the minimum amount is met, and processing times vary by method.Deposit MethodAccepted CurrenciesMinimum DepositMaximum DepositDeposit FeeDeposit TimeJapan Local Bank TransferJPY¥10,000¥10,000,000Free, ¥1,000 fee if deposit < ¥10,0005 minutes – 1 hourInternational Bank TransferUSD$100$1,000,000Free, $10 fee if deposit < $1002 – 5 business daysCryptocurrency (BTC/USDT)JPY/USD/EUR¥10,000/$100/€100/Free, 1,000 JPY / 10 USD / 10 EUR fee if under minimum10 minutes – 1 hourWithdrawal FXON allows withdrawals via local banks, international wire transfers, and cryptocurrency. Fees apply for lower-than-minimum withdrawals and vary by method.Withdrawal MethodAccepted CurrenciesMinimum WithdrawalMaximum WithdrawalWithdrawal FeeProcessing TimeJapan Local Bank TransferJPY¥20,000¥1,000,000Free, ¥2,000 fee if withdrawal < ¥20,0001 – 2 business daysInternational Bank TransferUSD$200$1,000,000$34, +$20 and bank fees if withdrawal < $2005 – 10 business daysCryptocurrency (BTC/USDT)JPY/USD/EUR¥20,000/$200/€200/Free, Fee of 2,000 JPY / 20 USD / 20 EUR if under minimum10 minutes – 1 hour