Fidency.net is a forex and CFD broker that claims to offer a wide range of trading instruments, competitive spreads, fast execution, and excellent customer service. But are they really legit or just another scam? In this review, we will examine the features, advantages, and disadvantages of Fidency.net and help you decide if they are worth your time and money.
Features of Fidency.net
Fidency.net is a brand name of Fidelity Group Ltd, a company registered in St. Vincent and the Grenadines. According to their website, they are regulated by the Financial Services Authority (FSA) of SVG, but this is not a reputable or reliable regulator. In fact, SVG is known as a hotspot for offshore brokers that operate without proper oversight or protection for their clients.
Fidency.net offers four types of accounts: Basic, Silver, Gold, and Platinum. The minimum deposit for the Basic account is $250, while the Platinum account requires $50,000. The leverage ranges from 1:100 to 1:400, depending on the account type and the trading instrument. The spreads are variable and start from 0.1 pips for major currency pairs.
Fidency.net provides access to over 200 trading instruments, including forex, indices, commodities, stocks, and cryptocurrencies. They also offer a web-based trading platform called WebTrader, which has a simple and user-friendly interface. However, they do not support the popular MetaTrader 4 or MetaTrader 5 platforms, which may be a drawback for some traders who prefer more advanced features and tools.
Advantages of Fidency.net
- They offer a variety of trading instruments and markets
- They have low spreads for some instruments
- They have a responsive and helpful customer support team
- They have a demo account option for beginners
Disadvantages of Fidency.net
- They are not regulated by a reputable or trustworthy authority
- They have high minimum deposit requirements for some accounts
- They have high withdrawal fees and commissions
- They do not support MetaTrader 4 or MetaTrader 5 platforms
- They have negative reviews and complaints from some clients
Conclusion
Fidency.net is a forex and CFD broker that offers a wide range of trading instruments and markets, but they also have many drawbacks and risks. They are not regulated by a credible regulator, they have high fees and charges, they do not support popular trading platforms, and they have a questionable reputation. Therefore, we do not recommend Fidency.net as a reliable or safe broker to trade with. You should always do your own research and due diligence before choosing a broker and investing your money.
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