GENERAL INFORMATIONFUNDS TRADING AND SECURITYTHE TRADING ACCOUNTSTRADING CONDITIONSTRADING PLATFORMFOXANE’S TRADING PRODUCTSCUSTOMER SERVICECONCLUSION
Foxane is a modern online brokerage that started operating less than a full year ago. it strives to provide its users with top-tier trading services on forex and CFDs. That allows it to be a flexible brokerage able to welcome customers with vastly different trading habits. Foxane operates from Saint Vincent and the Grenadines, or more precisely Beachmont Business Centre, 213, Kingstown. Our Foxane review will help you determine whether it’s a broker that you want to do business with.
First impressions are more significant for brokers than most traders would like to admit. If you as a customer open an ugly or dysfunctional website, chances are you won’t consider the company serious. That’s why brokers need to work on their presentation and not only strictly trading-related features. Luckily, Foxane does exceptionally well in that regard, with a quick and visually appealing website.
When you enter foxane.com, you immediately get the impression the broker was meticulous when designing it. That’s a significant bonus in our books, as it shows that the firm is in capable hands. Naturally, just an appealing website isn’t enough to earn a passing grade, but it’s a solid starting point. It also does a good job of conveying the info customers want to know, but there are always improvements brokers can make in that regard.
As you already could’ve guessed, the first impression in our Foxane review was quite positive. Although there’s still a lot of ground to cover, it already appears that Foxane is more serious than most new brokers. It still has to prove itself in other vital regards, and we’ll see how well it fares later in our Foxane broker review. For now, let’s look at some of the broker’s appealing qualities:
. Free Education and Analysis
Free resources for learning and asset analysis are always a solid bonus with brokerages. Although most people say that there’s already plenty of free materials online, an excess can’t harm you. On top of that, it shows that the broker actually cares about their community instead of simply reaping profits. Brokerage resources also often include things that will specifically help with the services they provide. That includes platform tutorials, trading guides, and pointers for different functions, making it simpler to adapt.
. 24/7 Support
Customer support is often overlooked in terms of important online brokerage features. However, some of the world’s largest online brokerages are losing clients because of poor customer service. Problems are a common occurrence with online services, especially those as complex as online brokerages. When you add the massive monetary amounts moving around, unresolved issues can become points of massive frustration. Competent customer support teams are vital in relieving that tension, and having an extended work time increases responsiveness.
. Extensive Asset Library
The last thing we wanted to talk about in this section is Foxane’s wide library of assets. The broker has over 2,000 assets for users to trade, split across multiple different trading product categories. As we said earlier in our Foxane review, that makes it able to welcome different types of traders and investors. Also, the high asset count makes it unlikely a trader will miss a solid opportunity because of a trading instrument being absent. It’s always good to have more options in the trading world, and the high asset count represents that exactly.
Funds Trading and Security
Safety is a primary concern when choosing any online service involving money, let alone an online broker. Since there’s little to no chance of getting compensation if you’re wronged, all you can do is stay away from shady brokers. That’s simple enough, as most dishonest brokers are easy enough to spot, but there are some that hide well. And even the ones that are more apparent can look good to people without a lot of experience. That’s why security is a crucial part of our Foxane review, as it’s one of the primary qualities for brokers.
Luckily, Foxane seems to hold up, especially for a newer broker. It has a broad spectrum of technical qualities that ensure that customer funds remain safe. Here, we’ll look at them and see how they play into fund safety overall.
Naturally, the broker employs a highly qualified IT team to work on preventing data breaches. Their active efforts are backed up by passive risk management functions such as 256-bit SSL encryption. There are also protective measures in the form of firewalls and PCI level 1 transactions. That means customer money should remain safe both while it’s being sent and while the brokerage stores it.
As we said, the broker does much better than most of its peers in the security department. Naturally, as the broker grows, we expect it to improve in the security department. With that said, we do believe it holds up as-is, it’s not as robust as some industry leaders, but that’s a tough standard to set.
Review of The Trading Accounts
Accounts at Foxane follow the usual brokerage structure of different tiers based around cumulative deposits. The broker starts its accounts at $1,000 and has seven different types. Naturally, the later options are meant for luxury traders and serious investors. That means the cheaper options are lower to the ground, without broad features.
However, that doesn’t mean Foxane’s base account users will feel like something is lacking. The broker made sure to keep fundamental trading features open to everyone. While the later types do bring improvements and additional luxury, they’re by no means necessary. As we said earlier in our Foxane review, that makes it a more versatile brokerage.
As per usual with the account setup Foxane follows, you don’t actually pay anything for the accounts. You can still trade with all the money you deposit. In other words, that means you don’t need to stress about your account choice. Just choosing what you’re financially comfortable with is an entirely viable method. Here are some specifics on what the accounts at foxane.com get you:
Min Deposit: $1,000Range of MarketsMultilingual Support
Min Deposit: $2,500Advanced List of Market InstrumentsMultilingual SupportEducational ToolsLive Signals
Min Deposit: $5,000Advanced List of Market InstrumentsMultilingual SupportEducational ToolsLive SignalsPersonalized AccountAccess to Trading with Individual Stocks
Min Deposit: $10,000Advanced List of Market InstrumentsMultilingual SupportEducational ToolsLive SignalsPersonalized AccountAccess to Trading with Individual StocksIndividual Charts and Personal-Oriented AnalyticsIslamic Accounts
Min Deposit: $25,000Advanced List of Market InstrumentsMultilingual SupportEducational ToolsLive SignalsPersonalized AccountAccess to Trading with Individual StocksIndividual Charts and Personal-Oriented AnalyticsDevelopment of A Personal Trading Strategy24/7 Support from Personal Account Manager
Min Deposit: $50,000Advanced List of Market InstrumentsMultilingual SupportEducational ToolsLive SignalsPersonalized AccountAccess to Trading with Individual StocksIndividual Charts and Personal-Oriented AnalyticsDevelopment of A Personal Trading Strategy24/7 Support from Personal Account ManagerIndividual Direct Communication LineSpecial Swap Account
Min Deposit: $100,000Advanced List of Market InstrumentsMultilingual SupportEducational ToolsLive SignalsPersonalized AccountAccess to Trading with Individual StocksIndividual Charts and Personal-Oriented AnalyticsDevelopment of A Personal Trading Strategy24/7 Support from Personal Account ManagerIndividual Direct Communication LineSpecial Swap AccountInvitations to VIP EventsAccelerated Withdrawal of Funds
You can see a portion of the trading conditions from the accounts section of our Foxane review. However, there’s still more to discover, including the 1:400 leverage and simple margin requirements. That makes the broker much more open towards high-leverage strategies. Day traders and scalpers often employ such tactics, making Foxane a solid fit for them. However, the tight spreads and price-benefit ratio of the accounts also make the broker a solid fit for more standard traders.
There are also a few standout features in account managers and personalized trading sessions. The more exclusive accounts also get expedited withdrawals and access to select trading communities. However, that won’t matter for most traders. Still, the broker’s deposits and withdrawals are quick even without the boost, which does matter for the everyday trader.
We also mentioned the asset variety earlier in our Foxane broker review, which is a significant boon for the broker. It also did well in creating its custom platform, although most traders do prefer standard options. All in all, Foxane seems to have a high degree of understanding of what its customers want. For a newer brokerage, that’s quite commendable.
We mentioned the broker’s platform a moment ago but we should also go more in-depth. It’s a custom platform, meaning it’ll get some getting used to for anyone that signs up. However, it’s intuitive and works similarly to most standard trading software. That smoothens the learning curve, allowing traders to adapt and learn relatively quickly.
The platform is analytically competent, with features such as live interactive charting and 21 timeframes. That means it doesn’t lag behind the more standard options in terms of functionality. It’s also available through a downloadable desktop terminal, as well as web and mobile clients. Overall, the software is nice and versatile, although some might prefer something like MetaTrader4.
Foxane’s Trading Products
Earlier in our Foxane review, we talked about the importance of having a broad selection of trading instruments. As to not repeat ourselves, we’ll go over some key points once more. For starters, it’s vital for differentiation and users to create healthy portfolios. It also plays into vital related skills, such as risk management. Here’s a rundown of the asset classes at foxane.com:
As we already stated, customer support is crucial to round off a solid brokerage experience. Foxane’s team works 24/7, meaning they have an advantage over brokers with the standard 24/5 work time. It reduces ticket response time and ensures that customers can always reach out.
Email: [email protected]
Foxane review: Conclusion
Foxane is a competent brokerage despite its young age. Its trading services include all the necessities and various bonuses that propel it ahead of competitors. The security is also strict, with preventive measures on each step your funds need to take. With those two, we already have an experience that’s solid as a baseline. However, it also includes many additional features which push it the extra mile.
The broker organizes custom educational content for its users, helping them grow as traders. It also has custom communities with curated content that can help traders. Some luxury features, such as personal account managers, come at a much cheaper price tag than usual. And while the broker does have some improvements to make, what it already has is impressive considering its age.
We won’t hesitate to end our Foxane broker review with a definite recommendation. The broker earns it already, and we’re eager to see where it goes in the future.