Note: Networkfsi is to operate via the website - https://networkfsi.com/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
Networkfsi is allegedly a multi-asset broker registered in the United Kingdom that claims to provide its clients with various tradable financial instruments with leverage up to 1:200 and floating spreads from 0.1 pips on the WebTrader platform via five different live account types.
As for regulation, it has been verified that Networkfsi currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.04/10. Please be aware of the risk.
Note: The screenshot date is January 11, 2023. WikiFX gives dynamic scores, which will update in real time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.
Market Instruments
The available assets available to trade with Networkfsi were forex currency pairs, indices, commodities, stocks, and cryptocurrencies.
Account Types
Networkfsi claims to offer five types of trading accounts, namely Green, Premium, Platinum, Executive and Presidential, with minimum initial deposit requirements of €5,000, €25,000, €50,000, €100,000, and €250,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
Leverage
The leverage is capped at 1:200. However, according to the regulations, British and Australian brokers have to limit their clients to 1:30, while US brokers cant provide more than 1:50. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads
All spreads with Networkfsi are a floating type and scaled with the accounts offered. Specifically, 2.5-3 pips on the Green account, 2-2.5 pips on the Premium account, 1.5-2 pips on the Platinum account, 1-1.5 pips on the Executive account, and 0.5-1 pips on the Presidential account. The EUR/USD spread is just 0.1 pips.
Trading Platform Available
Instead of the world's most advanced and popularly-used MT4 and MT5 platforms, Networkfsi gives traders a WebTrader, just as the below screenshot shows. Anyway, you had better choose brokers who offer the leading MT4 and MT5, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
Networkfsi accepts credit cards and bank transfers only. The minimum initial deposit requirement is extremely high - €5,000. It also charges a 20% withdrawal fee.
Bonuses
Networkfsi claims to give some bonuses. In any case, you should be very cautious if you receive a bonus. Bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Note that brokers are prohibited from using bonuses and promotions by all leading regulators.
Customer Support
Networkfsis customer support can be reached by telephone: +44 2080976007. Company address: 25 Basinghall St, London EC2V 5HA.
Pros & Cons
Frequently Asked Questions (FAQs)
2022-12-20 11:25
2022-12-20 10:48
