FxOnUs Forex Broker

Note: FxOnUs's official website https://fxonus.com/ is currently inaccessible normally.FxOnUsReview SummaryFounded2015Registered Country/RegionMarshall IslesRegulationNo regulationMarket InstrumentsForex, commodities, indicesDemo Account❌LeverageUp to 1:500SpreadFrom 1.1 pips (Standard zero-bonus account)Trading PlatformMT5Min Deposit$100Customer SupportPhone: +44-2031501511Email: fxonus@fxonus.com FxOnUs was registered in 2015 in Marshall Isles. It supports MT5, and offers trading services on forex, commodities, and indices. However, this company is not regulated, and its website is inaccessible now.Pros and ConsPros Cons MT5 supportedLack of regulationUnavailable websiteIs FxOnUs Legit? FxOnUs is not regulated by the financial services regulatory authority in Marshal Isles, which means that the company lacks regulation from its registration site. Moreover, the current status shows that activities like transferring and updating are prohibited.What Can I Trade on FxOnUs? FxOnUs claims to offer products like forex, commodities, and indices.Tradable Instruments Supported Forex✔Commodities✔Indices✔Stocks❌Cryptocurrencies❌Bonds❌Options❌Mutual Funds❌Account Type FxOnUs offers various account types including a Standard zero-bonus option for cautious traders (minimum $100 deposit advertised). They also have a Standard account with a 50% bonus, but be wary of such offers from unregulated brokers. Finally, an ECN account is advertised, but without regulatory oversight, its legitimacy is questionable.Leverage On FxOnUs, the leverage can be up to 1:500. When the leverage is high, potential risks may also be high. Therefore, careful considerations are needed.FxOnUs Fees FxOnUs provides different spreads and commissions across its three account types. The Standard zero-bonus account offers spreads from 1.1 pips with no commission. In contrast, the 50% bonus Standard account features spreads starting at 2.5 pips. The ECN account boasts spreads as low as 0.2 pips and incurs a commission of USD 10 per lot. The broker does not impose any additional trading-related fees.Trading Platform FxOnUs uses MT5 as its trading platform.Deposit and Withdrawal The options for deposit and withdrawal are the same, and it is free to withdraw if the amount is bigger than $100. However, when the amount is less than $100, $20 should be charged for withdrawal.Payment Option WithdrawalFeeProcessing Time Cards, wire transfers$20 if less than $100; free if bigger than $1001 - 5 days