The forex broker FxOnUs offers two types of live trading accounts: Book and STP/ECN and a PMAM account. There is also a demo account, which, unlike most of other brokers’ demo accounts requires a phone number as well.
FxOnUs has an extensive lists of trading instruments: forex pairs and CFDs on indices, precious metals and indices.
The Company. Security of Funds
FxOnUs is an offshore forex broker owned by MarketOnUs Ltd. registered on the Marshall islands. On its website the broker also provides the name of another company Yorkshire HG Ltd., which is supposed to be registered in the UK. Its name, however, does not appear in the Companies House registry of companies in the country.
This fact does not imply much, but it must be kept in mind that FxOnUs is an unregulated broker from an offshore zone, which brings a significant risk of loss. It is also alarming that the information in the “fund safety” is extremely vague and it does not become clear whether the broker keeps the client funds in segregated accounts or not.
There are cases when even regulated brokers break the rules and scam people out of their money. But in such cases there is the consolation that more often than not the clients will eventually recover the funds remaining in their account, as usually the regulated brokers are required to be members of compensation schemes. There is also the consolation that most regulators are diligent enough to keep an eye on the brokers and give them a slap on the wrist whenever they go rogue. It is true that some regulators are more diligent than others, but it is also true that there is absolutely nobody who keeps an eye on the unregulated brokers. So, we advise you to use the services of regulated brokers – like by UK’s FCA or the ASIC.
Like a significant portion of the forex brokers across the world, FxOnUs uses the popular MetaTrader 4 (MT4) platform. More than 10 years since its launch the platform is still enjoying great popularity, thanks to its ease of use, versatility and extensive functionality.
FxOnUs offers the MT4 platform in all its versions – as a trading terminal for PCs, a web version and the mobile application for smartphones and tablets.
FxOnUs offers a “100% withdrawable bonus”, a “50% losable bonus”, as well as a tailor made FX account and charge free deposits. The 100% withdrawable deposit is a somewhat unusual promise that sounds very enticing, but, naturally, it comes with a set of conditions.
Methods of payment
FxOnUs offers the usual deposit options like bank transfer, credit and debit cards and the Skrill, Neteller and China UnionPay online payment systems.
FxOnUs is one of the hundreds of offshore unregulated brokers that quite often exist with the sole purpose of scamming people out of their money. What is particularly strange about this one is that it does not give any information about its trading conditions on its page and we had to ask them in an e-mail and wait 2 days for a reply to find out about the most basic requirements.
Another unpleasant feature is that for a small unregulated broker, the minimum deposit requirement of $500 is too high.
FxOnUs Review Conclusion
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