Broker Review

Unauthorised Firm Details

Name: FXonet (also styled as FXONET)
Website: fxonet.com

---

Overview

FXonet is promoted as an online trading and investment platform offering services such as CFDs, forex, and cryptocurrency trading. Despite its professional appearance, multiple independent reports and user testimonials have flagged FXonet as unregulated and high-risk, with numerous complaints about fund withdrawals, misleading marketing, and aggressive account management practices.

---

Platform Claims

FXonet claims to be registered in the Comoros and regulated under the Mwali International Services Authority (MISA). The platform advertises a comprehensive trading experience with web-based CFD and forex tools, promising high returns and easy trading for users. However, there is no verifiable evidence that these claims are supported by credible regulatory oversight, independent audits, or verified corporate registration.

---

Regulatory & Oversight Concerns

• FXonet is not authorised by major financial regulators such as the UK FCA, Australian ASIC, or the U.S. SEC. Regulatory warnings identify the platform as offering financial services without proper authorisation.

• Its claimed MISA regulation is issued by a low‑scrutiny offshore authority and does not provide investor protection equivalent to recognised regulators.

• Fraud‑watch and trust‑rating services flag FXonet as highly suspicious due to hidden ownership, anonymous registration, and negative user feedback.

---

Transparency & User Complaints

• FXonet provides minimal verifiable company information. No credible leadership records, registered office, or public corporate filings are available.

• Users report a pattern where small initial withdrawals are allowed to build trust, followed by blocked or delayed larger withdrawals.

• Many complaints describe pressure to deposit additional funds, excessive “processing fees,” and aggressive account manager contact via messaging platforms.

• Independent reviews consistently rank FXonet as a high-risk platform with multiple reports of potential fraud.

---

Major Warning Signs

• Unregulated by any major or credible financial authority.

• Anonymous ownership and offshore registration with limited oversight.

• Reports of blocked withdrawals and pressure tactics to increase deposits.

• Promises of high returns via high-risk trading products.

• Low trust scores in independent risk assessments.

These factors strongly indicate that FXonet operates outside legitimate financial and consumer-protection frameworks.

---

Investor Caution

Due to the lack of regulation, opaque operations, and consistent user complaints, FXonet should be regarded as high-risk and potentially fraudulent. Investors are strongly advised not to deposit funds or provide personal information.

For those who have already engaged:

• Stop all further deposits immediately.

• Document all interactions, including messages, emails, and transaction details.

• Contact your bank or payment provider to explore chargebacks or reversals where possible.

• Report the platform to local financial regulators or cybercrime authorities.