NessFX.com – scammers or a decent broker?

NessFX.com – what we know and have as facts about it; The website is owned and operated by FxNet Limited, which is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 182/12. This license allows it to conduct various financial services, including receiving, transmitting, and executing customer orders.

We have found in the Order Execution Policy document that the company acts as a principal. There also are so-called execution venues, where FxNet transmits orders for execution. Either the company or a third-party liquidity provider will be the execution venue for the fulfillment of the client’s orders. This means that FxNet may use the Straight Through Processing (STP) model to execute orders or may act as a market maker being a counterparty to each client’s transaction. When the company takes the opposite side of the transaction, the conflict of interest arises. The market risk for the market maker increases and it only hopes that customers will lose. Every loss of customers is its profit.

We also found that there are some posts in the forums about using fraudulent practices to push clients to deposit more and more money and to open orders with larger quantities, poor or lack of customer support and withdrawal issues.

So far, we have not received any complaints from customers of FxNet. If you have any criticism to share with us or feel annoyed by FxNet, please fill in the form below, detailing your case. Once we have made your case public, we may attempt to mediate between you and FxNet if you wish.