FXNet
umarkets
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Overview
FXNet was founded in 2012 and is headquartered in Cyprus, while umarkets was established in 2018 and is based in Bulgaria. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. FXNet serves 10,000+ clients worldwide; umarkets has 10,000+. The minimum deposit is $50 at FXNet and $250 at umarkets.
| Feature | FXNet | umarkets |
|---|---|---|
| Min. Deposit | $50 | $250 |
| Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F333 |
| Founded | 2012 | 2018 |
| Country | Cyprus | Bulgaria |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between FXNet and umarkets, directly affecting your bottom line as a trader. umarkets has a lower barrier to entry with a minimum deposit of $250 (vs $50 at FXNet). umarkets charges withdrawal fees while FXNet does not, giving FXNet an edge for frequent withdrawers. umarkets applies inactivity fees on dormant accounts; FXNet does not. Overall, FXNet scores higher on fees in our assessment.
| Feature | FXNet | umarkets |
|---|---|---|
| Min. Deposit | $50 | $250 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
FXNet offers MT4, MT5, cTrader, while umarkets supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. The two brokers are closely matched on platform offering.
| Feature | FXNet | umarkets |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how FXNet and umarkets compare. FXNet runs regular live webinars; umarkets does not. Both provide video tutorials. FXNet publishes daily market commentary; umarkets does not. Both integrate third-party research tools. FXNet maintains an archive of past webinars for on-demand viewing. FXNet scores higher overall in education and research.
| Feature | FXNet | umarkets |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. FXNet accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while umarkets supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). umarkets uniquely supports PayPal and Skrill and Neteller among the two brokers. umarkets scores higher on deposit and withdrawal flexibility.
| Feature | FXNet | umarkets |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both FXNet and umarkets offer live chat support. Both provide phone support. Email support is available at both brokers. FXNet supports 2 languages and umarkets supports 8, giving umarkets broader global reach. Both brokers are comparable on support quality.
| Feature | FXNet | umarkets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |