WikiFX

Sagot

As someone who takes risk management and broker vetting extremely seriously, I do not recommend engaging with fxonet—especially for purposes such as running Expert Advisors (EAs) for automated trading. My perspective is rooted in the facts that matter most to me as a trader: regulatory standing and broker reliability. Fxonet currently operates without any valid regulation, holding a highly suspicious license and scoring very poorly in terms of oversight and risk management according to independent sources. The lack of regulatory information is a major red flag, as it leads to significant uncertainty regarding the fairness of executions, the safety of automated strategies, and even the security of deposited funds. Even if their technical infrastructure allowed for the use of EAs, which is a threshold many brokers meet, the critical issue is not the technical capability but the trustworthiness of the broker. With fxonet’s operations based in Comoros and only 1-2 years of history, I find it impossible to confidently deploy automated trading strategies here—especially since EAs often require uninterrupted and honest trade execution, as well as reliable withdrawals. For my own trading and capital safety, I only consider brokers with solid, well-known regulation and a strong track record. Without these, using EAs on such a platform introduces unacceptable risks that could jeopardize both strategy performance and account balances. To me, these risks simply outweigh any potential benefit.