From the very first look at the Fx On Us webpage, the one thing we can say for sure is that this broker tries really hard. To the point of us feeling uncomfortable. Let us explain. Their entire image revolves around being the best of the best, and the greatest there ever was when it comes to trading top-leading assets such as stocks, Forex, commodities and other securities. However, bigger is not always better, and Fx On Us is the clearest example. This company has made many unforgivable errors over the years, some of which were never even addressed or properly dealt with.
This just goes to show that you can never really know what you’re getting involved in with an unregulated broker. Namely, having a licence to do any type of business activity is the basic thing that you need to have in order to obtain clients. However, in this industry, there are a lot of brands that use loopholes and other tricks in order to avoid regulation. The main reason for that, of course, is the fact that they cannot comply with the strict demands and the regulatory frames that these authorities impose. As a result, we as clients are stripped of our basic rights and benefits in everyday trading.
Unfortunately, Fx On Us is one of those shameful brands. The suspicion about it first rose after seeing their place of establishment, which is somewhere on the Marshall Islands. You don’t have to know a lot about this area, except that it is a top-spot for off-shore companies who are trying to avoid regulation at all costs. As a result, the companies are refusing to give their clients a lot of features and advantages that are basically given in the trading community. So, how does a company like that stays on the market for so long? Let’s find out.
Platform and Execution SCORE: 41%
The Fx On Us trading platform is MT4 and customizable to any device or operating system, which is great. However, it takes forever to load and it does not look particularly appealing or different from the majority of platforms out there. Their website claims that there are over 470 tradeable assets to choose from, which is one of the widest selections we’ve ever seen. Also, the leverage comes at 500:1 which is a bit strange considering that the industry standard is 1:50, so we are not really sure what they were going for here.
The platform looks simple and user-friendly. It contains a big colourful chart that shows the performance of each asset on the market in real-time, which is one of the most important features that a successful trading platform should have. On the other hand, the platform is quite slow and cluttered in some sections, which is discouraging. Whether you are a first time trader or a pro, it is nice to have a simple and clear platform at your disposal, right? Unfortunately, Fx On Us does not seem to be able to give you that. So far, Fx On Us has only shown their ability to present the false promises in a neat package. Let’s see how the other sections are looking before we make a final decision.
Withdrawal Speed SCORE: 73%
The process of funding your account with Fx On Us is quite simple. You can use a lot of payment options, and it is given that you will need to use the same one for deposits and withdrawals. This way, their team is able to keep track of your orders and process your requests much faster and safer than usual.
The payment options include credit and debit cards, bank wire transfers and several e-wallets, including Neteller, Skrill and China Union Pay. The good news is that there are no additional or hidden fees of any kind for the deposits. However, the fees and commission on withdrawals may vary, and they are listed in the table below:
One thing that particularly stands out is the fact that the processing times could take up to 5 business days for each one of these payment methods. This is quite long, especially for the e-wallets and Bitcoin which usually take only a couple of minutes to do so.
Support and Assistance SCORE: 17%
Have you ever had a customer support team member chasing you, calling you every hour of every day, encouraging you to do something and pursuing you if you refuse? Us either. This, however, is the case with Fx On Us. Many clients have complained that the customer support team of the company called them every now and then to inform them about the latest bonuses, promotions and offers. However, if the clients seemed hesitant, they would continue pursuing them day after day until they eventually caved and gave in.
This isn’t what customer support is for. The agents should be there for the questions and issues that the clients may have while trading, and not trying to make them do something that they are not willing to. If you wish to express your concerns about Fx On Us, you can do so by contacting them through several channels. First one is the e-mail, which takes several days to be replied. There is also a telephone number and a pretty sketchy button that looks like it will open a live chat option. However, when you click on it you will receive the generic notification that they are offline and you should send them an e-mail.
Education and Tools SCORE: 21%
The educational section at Fx On Us seems like it has a variety of tools available for you, but don’t get fooled. Namely, whichever tab you click on, you will be redirected to the same page that lists the latest market news and announcements. And by latest, we mean the things that were relevant in 2018. It just does not seem like anyone from the Fx On Us is paying attention to this section at all, which is a real shame considering how useful it is for the clients.
Overall, Fx On Us is filled with contradictions. On one hand, they are dedicated to some parts of their operations, while others are missed out on entirely. Our advice to them would be to definitely try and be more consistent, so their clients could show them their trust.