| General Information | |
|---|---|
| Broker Name: | Foxane |
| Broker Type: | Forex and CFDs |
| Country: | Saint Vincent and the Grenadines |
| Operating since year: | 2021 |
| Regulation: | N/A |
| Address: | Beachmont Business Centre, 213, Kingstown, St. Vincent and the Grenadines |
| Broker status: | Active |
| Customer Service | |
| Phone: | +18008289937 |
| Email: | customercare@foxane.com |
| Languages: | English |
| Availability: | 24/7 |
| Trading | |
| The Trading platforms: | Proprietary |
| Trading platform Time zone: | N/A |
| Demo account: | No |
| Mobile trading: | Yes |
| Web-based trading: | Yes |
| Bonuses: | No |
| Other trading instruments: | Yes |
| Account | |
| Minimum deposit ($): | $1,000 |
| Maximal leverage: | 1:400 |
| Spread: | Floating |
| Scalping allowed: | Yes |
Foxane is a mid-tier online brokerage that aims to provide customers with a broad array of trading and investing services. The company specializes in forex and CFDs, meaning it has a broad library of different asset classes. That allows it to present itself as a diverse broker, able to satisfy the needs of traders with different preferences. Foxane operates from Saint Vincent and the Grenadines at Beachmont Business Centre, 213, Kingstown. Our Foxane review will go over its security and trading, helping you decide whether to use its services.
As always, we’ll start by presenting the first impression we got from visiting Foxane’s website. Although initial thoughts might not seem important in the long run, they have a tremendous impact on newer traders. Since the trading world is full of confusion and difficult to grasp, it can be daunting for those that have recently joined. As such, brokers need to work to alleviate that stress and appear open to newcomers. So while experienced traders might not mind confusing websites, newbies definitely will.
We’re glad to say foxane.com does pretty well in that regard. It’s a modern brokerage, and its visuals convey that very well. It looks elegant, which creates a professional atmosphere that’s fitting for an online broker. Even more important than that, it also has intuitive navigation, making it easy to find what you’re looking for. It also has detailed info on its services, ensuring customers know what they’re getting into.
So besides a few typos, Foxane’s website seems to hold up very well. The initial impression is positive, meaning our Foxane broker review is up to a solid start. Naturally, the broker will have to prove itself further and we’ll see how it fares. For now, let’s look at some of Foxane’s interesting qualities:
When signing up for a brokerage, it’s nice to know the firm is there to support you as a trader. A lot of brokers stop at being service providers and don’t especially care about whether their customers succeed. However, Foxane helps its customers every step of the way with educational and analytical features. That can help traders develop at a rapid pace and become confident and self-sufficient. Broker materials often beat free online resources because they’re more specific to their own service.
Having more choices is nearly always better in the trading world as it leads to a more skill-expressive experience. It’s especially important that the brokerage has a solid asset selection in the area it specializes in. Since Foxane aims to be an all-around brokerage, it needs to have a broad library across different categories. It does that by providing CFDs on nearly all major trading product classes, with a total of over 2,000 overall. That lessens the chance of traders not having access to an asset they wish to trade and makes it easier to experiment.
Security is one of the most crucial aspects of picking an online brokerage to trade with. Since there are a lot of scams in online financial markets, traders and investors need to be cautious. Unfortunately, there are few ways of getting reimbursed for scam losses, so your only hope is to avoid crooked companies. That’s why each of our reviews, including our Foxane review, pays special attention to the safety brokers ensure. So let’s look at Foxane’s specific case and how it measures up against other brokers.
One of the first things we noticed is that the broker has a specific security page where it outlines everything it does. That’s a good sign as it’s usually little more than just a footnote for most brokers. It indicates that foxane.com is serious about making sure their customers’ money doesn’t go anywhere it isn’t supposed to. And once you look at the precautions the broker takes, it’s apparent that they aren’t just for show.
The broker states it has an IT team devoted solely to customer fund security, creating an active reaction measure. Multiple preventive security features back that up, creating a sturdy security web. The security features include a robust firewall shield, PCI level 1 transactions, and 256-bit SSL encryption. Naturally, there’s more that the broker does, but we feel like these are enough to convey the point. Foxane’s broker security is quite refreshing to see, especially for a newer broker.
Now, naturally, there’s still room for the broker to improve. However we feel like it’s unfair to compare a company that’s starting out with industry giants. For now, we’re content with the broker’s safety measures as they do a good job of ensuring funds remain where they should be.
The account structure at Foxane follows the usual online brokerage formula. There are multiple versions, seven in total, each requiring a different cumulative deposit. The first account needs $1,000, making that the minimal investment for a live account. Naturally, you can trade with the funds you put in, meaning the accounts themselves don’t cost anything.
As we said earlier in our Foxane review, it’s a mid-tier broker, which is reflected in its pricing. While the initial investment may scare off traders on a tighter budget, it’s not an unreasonable ask. To compensate for the steeper-than-usual price, the broker provides luxury features at lower price points than usual. We feel like that’s a fair tradeoff, as it hits the sweet spot for Foxane’s target audience.
Here are some of the account features you can expect at foxane.com:
As we said earlier in our Foxane broker review, the brokerage tries to appeal to a wide audience. Because of that, it needs to set up its trading conditions so they can fit vastly different traders. So for high-pace strategies, the broker has a solid 1:400 leverage, with tight spreads. That means traders who aim to profit by making many trades don’t need to pay massive commissions, losing a significant chunk of their payoff.
On the other end of the spectrum, the broker eliminated overnight fees and account upkeep charges. That means traders who like to buy and hold can do so indefinitely without losing money in the process. Overall, we feel like that strikes a solid balance between the two ends. On top of that, the broker also manages to balance out users of different budget levels with its accounts.
There are also other conditions that improve the overall experience, such as the width of assets. We should also mention the broker’s proprietary platform which contributes to the overall trading quality. Naturally, some will prefer more standard options, but that’s a personal preference matter. Lastly, we should also say that the funding is solid, with quick deposits and withdrawals and options to expedite them with more expensive accounts.
As we said earlier in our Foxane review, the broker uses a proprietary platform. While a standard option like MetaTrader4 would allow traders to adapt quicker, their custom platform makes that easy enough. The broker clearly designed it with intuitiveness in mind, allowing newbies and veterans to adapt quickly. On top of that, the platform is also analytically competent, meaning you don’t miss out on anything from more standard solutions. FoxTrader also comes in web and mobile forms, increasing the overall convenience of using it.
We’ve praised the broker’s asset collection multiple times throughout our Foxane broker review, so there’s not much left to say. The total count sits at over 2000, with all major categories but cryptocurrencies present. While that may turn off some traders, crypto exchanges are the vastly superior way of trading digital currencies. That means the omission isn’t a huge loss for the broker, at least in our eyes. Here are the trading instrument categories present at foxane.com:
Foxane’s customer service has an advantage over most brokers since it operates 24/7. The extended work time reduces ticket response time and ensures users can get help around the clock. You can reach the broker using the standard means via phone, email, or live chat. It’s worth noting that the chat operatives work a bit shorter on a 24/5 schedule.
Phone: +18008289937
Email: customercare@foxane.com
While Foxane lacks experience in the brokerage world, it does well in holding its own. Its trading services overall are versatile and able to please heterogeneous groups of traders. The security is stricter than most new brokerages and does well in ensuring you don’t get scammed out of your money. That means the broker has the two primary qualities under control.
However, that would just let it sink in the sea of average brokerages that do nothing to stand out. It attracts attention by providing cheap luxury services, unique education and analysis methods, and a huge variety of assets. On top of that, its pricing overall is quite user-friendly, lowering the cost of trading.
The broker pleasantly surprised us, exceeding the expectations we have for new brokers. There are still improvements that the broker can make, but the core experience is solid even as-is. That means our Foxane review ends on a positive note, and we definitely recommend trying the broker out.
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