FXNet
WellsTrade
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Overview
FXNet was founded in 2012 and is headquartered in Cyprus, while WellsTrade was established in 2008 and is based in United States. FXNet holds licences including Financial Conduct Authority (FCA), while WellsTrade is regulated by Unregulated among others. FXNet serves 10,000+ clients worldwide; WellsTrade has 10,000+. The minimum deposit is $50 at FXNet and $30 at WellsTrade.
| Feature | FXNet | WellsTrade |
|---|---|---|
| Min. Deposit | $50 | $30 |
| Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) | Unregulated |
| Founded | 2012 | 2008 |
| Country | Cyprus | United States |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between FXNet and WellsTrade, directly affecting your bottom line as a trader. WellsTrade has a lower barrier to entry with a minimum deposit of $30 (vs $50 at FXNet). Neither broker charges withdrawal fees. The two brokers are broadly comparable on fee structure.
| Feature | FXNet | WellsTrade |
|---|---|---|
| Min. Deposit | $50 | $30 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
FXNet offers MT4, MT5, cTrader, while WellsTrade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. FXNet supports social and copy trading features, which WellsTrade does not offer. The two brokers are closely matched on platform offering.
| Feature | FXNet | WellsTrade |
|---|---|---|
| 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 | iPhone,Tablet,Mac,Android,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how FXNet and WellsTrade compare. FXNet runs regular live webinars; WellsTrade does not. FXNet has a video library; WellsTrade does not. FXNet publishes daily market commentary; WellsTrade does not. FXNet integrates third-party research tools (Trading Central, Autochartist); WellsTrade does not. FXNet maintains an archive of past webinars for on-demand viewing. FXNet scores higher overall in education and research.
| Feature | FXNet | WellsTrade |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | Yes | No |
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 WellsTrade supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | FXNet | WellsTrade |
|---|---|---|
| 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 WellsTrade 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 | WellsTrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |