FXNet
Virtual Brokers
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Overview
FXNet was founded in 2012 and is headquartered in Cyprus, while Virtual Brokers was established in 2008 and is based in Canada. FXNet holds licences including Financial Conduct Authority (FCA), while Virtual Brokers is regulated by The Investment Industry Regulatory Organization of Canada (IIROC) among others. FXNet serves 10,000+ clients worldwide; Virtual Brokers has 10,000+. The minimum deposit is $50 at FXNet and $1000 at Virtual Brokers.
| Feature | FXNet | Virtual Brokers |
|---|---|---|
| Min. Deposit | $50 | $1000 |
| Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) | The Investment Industry Regulatory Organization of Canada (IIROC), Canadian Investor Protection Fund (CIPF) |
| Founded | 2012 | 2008 |
| Country | Cyprus | Canada |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between FXNet and Virtual Brokers, directly affecting your bottom line as a trader. Virtual Brokers has a lower barrier to entry with a minimum deposit of $1000 (vs $50 at FXNet). Virtual Brokers charges withdrawal fees while FXNet does not, giving FXNet an edge for frequent withdrawers. Virtual Brokers charges deposit fees; FXNet does not. Overall, FXNet scores higher on fees in our assessment.
| Feature | FXNet | Virtual Brokers |
|---|---|---|
| Min. Deposit | $50 | $1000 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
FXNet offers MT4, MT5, cTrader, while Virtual Brokers 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 | Virtual Brokers |
|---|---|---|
| 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,Desktop,iPhone/iOS |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how FXNet and Virtual Brokers compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. The two brokers are evenly matched on educational content.
| Feature | FXNet | Virtual Brokers |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| 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 Virtual Brokers supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | FXNet | Virtual Brokers |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both FXNet and Virtual Brokers offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 2 languages. Both brokers are comparable on support quality.
| Feature | FXNet | Virtual Brokers |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |