FXNX Review 2026: Licence Status, Accounts, Fees and Risks

Short answer: FXNX is a CFD broker run by FXNX Global Markets Ltd, a company incorporated in Saint Lucia and in Mwali (Comoros) in 2025. Its website relies on one licence, MISA BFX2025082, but the Mwali registry page FXNX links to showed that licence as Suspended, with an end date of 11 July 2026, when we checked in October 2026. Accounts start at $10 to $2,500, commissions run $5 to $9 per lot round turn, and leverage goes up to 1:500.

How this review was made: we read FXNX’s website, its Help Center, its legal PDFs and the Mwali registry, and searched the FCA register, the FCA website, the IOSCO I-SCAN alert network and the RBI Alert List, all in October 2026. We opened the Mwali registry page twice through a normal browser and got the same result both times. We have not opened an account, so there are no measured spreads or withdrawal times here.

FXNX in four numbers. Source: Mwali registry, FXNX website and Client Agreement, October 2026.

FXNX at a glance

Is FXNX safe and legit?

FXNX has one operating company and one licence, so the question is simple: is that licence in force, and what does it protect? On the evidence we found, the answers are “the registry says no” and “very little”.

Who holds your account

The Terms of Service and the Client Agreement both name FXNX Global Markets Ltd, incorporated in Saint Lucia under registration number 2025-00128, with a registered office in Rodney Bay, Gros-Islet. Both documents are governed by Saint Lucia law, and the Client Agreement gives the courts of Saint Lucia exclusive jurisdiction over disputes (Client Agreement, Terms of Service). The same company is also registered in Mwali under HV00525348; the Mwali certificate of incorporation is dated 22 May 2025 (certificate). FXNX’s own documents present the Saint Lucia registration as a company registration, not a licence (source).

The MISA licence and what the registry shows

The regulation page says FXNX Global Markets Ltd holds MISA licence BFX2025082, an “International Brokerage & Clearing House Licence” issued on 11 July 2025 and covering “foreign exchange, futures, financial derivatives and options trading” (source). The licence certificate FXNX publishes gives the same number and date (certificate).

FXNX tells readers to check the registry themselves and, if the details do not match, to “Stop there” and write to its compliance desk (source). We did. The Mwali International Services Authority verification page for record 535 lists FXNX Global Markets Ltd, licence BFX2025082, with:

• Status: Suspended
• License end date: July 11, 2026
• Website: fxnx.com

(Mwali registry, checked twice in October 2026.) FXNX’s regulation page, about page and footer still present the licence as current and do not mention a suspension or a renewal. We could not find any explanation from FXNX. Until the registry shows the licence as active, treat FXNX as a broker without a working licence.

What protection you do not get

Even with an active MISA licence, the protection on offer would be thin:

• No UK, EU or Australian regulator. We found no FXNX firm on the FCA register (FCA register), and FXNX does not claim any FCA, CySEC or ASIC licence.
• No compensation scheme. None of the documents we read mention one, so there is nothing like the UK’s FSCS if the company fails.
• No ombudsman or independent dispute body. The contact page says complaints go by ticket in the portal or by email to FXNX’s support desk (source). After that, the Client Agreement points you to the courts of Saint Lucia.
• FXNX is your counterparty. The Risk Disclosure says that when you trade CFDs “you are entering into an over-the-counter (OTC) transaction directly with FXNX Global Markets Ltd” and are exposed to the risk of the company not being able to pay you (Risk Disclosure).

Client money: the Client Agreement and the Funds Safety document say deposits are held in segregated accounts, separate from company funds, with “top-tier international banking institutions” (Funds Safety). Neither names a bank. Deposits arrive as stablecoins or local payments into a USD wallet (source), and the documents do not explain how stablecoin balances are held.

Regulator warnings

As of October 2026 we found no regulator warning that names FXNX or fxnx.com:

• IOSCO’s I-SCAN network, which collects warnings from securities regulators worldwide, returned “There are no warnings that match your search criteria” for “fxnx” (I-SCAN).
• The FCA website search returned “No search results for fxnx” (FCA).
• FXNX is not on the RBI Alert List (see the India section below).

No warning does not mean authorised. A young broker may simply not have been reviewed yet.

Documents that do not match the website

The legal page says its binding PDFs were “Updated 3 Jun 2026” (source). The PDFs themselves say otherwise:

• The Terms of Service say “Last Updated: Feb 8, 2025”, and the Client Agreement and Risk Disclosure carry the same date. That is three months before the Mwali company was incorporated and five months before the licence was issued.
• The Client Agreement says FXNX “offers a single account type, the NX One Account” with raw spreads and a commission from $9 to $1 per lot depending on an “NX Miles” loyalty tier. The website now sells five accounts with fixed commissions from $5 to $9 and does not mention NX Miles on the account pages (source).

The website says the PDF governs where its summaries differ. So the binding contract describes a product that no longer matches what is on sale, which makes it harder to know which terms you could enforce.

FXNX account types

Source: the account comparison page, which says spreads “start at these values and move with the market”, commission is per lot round turn, and all accounts are in USD (source).

The “minimum deposit” is really an activation amount. Deposits land in a USD wallet first, and a live account only starts trading once you move at least its minimum into it. A smaller transfer is refused (source). Several accounts can sit under one login (source).

NX One is the default account. Demo accounts on NX One, NX Auto and NX Pro come with $1,000, $10,000 or $100,000 of virtual money (source). Our guide to demo accounts explains what a demo can and cannot show you.

NX Pro offers raw spreads from 0.0 pips at $5 per lot. FXNX’s own worked example: 2 lots in and out costs $10 in commission. It runs Expert Advisors on MT5, and the spec sheet says a VPS is included above $5,000 (source).

NX Flex lets you set the commission from $9 down to $0 and a spread markup from 2.5 down to 0.0 pips on forex and metals; your choices set the minimum deposit, from $10. Swap-free trading is a switch on NX Flex, but it lasts only 14 days per position, after which normal swap applies (source). Other markets keep their own pricing.

Which account costs less?

On EUR/USD, one pip on one standard lot is worth about $10. Using the starting spreads:

These are floors, not averages. Real spreads widen with the market, around news for example, and positions held overnight also pay swap. Our page on spread versus commission shows how to compare total cost.

Leverage, margin call and stop out

Every account offers 1:50, 1:100, 1:200, 1:300, 1:400 or 1:500, and some instruments are capped lower (source). The help centre says 1:100 is pre-selected when you open an account and that a change applies to new positions (source). Its own warning: at 1:500, a 1% move against you costs 500% of the margin that position uses.

The Client Agreement sets the margin call at 80% of the margin needed for your open positions and the stop-out at 40%, when the system starts closing positions with the biggest loss first (Client Agreement). We did not find these levels on the website or in the Help Center. Our guide to margin calls and stop outs explains the maths.

Negative balance protection: website versus legal text

• The regulation page says: “Negative balance protection is on every account. You can’t lose more than your account holds, but you can lose all of it” (source).
• The Client Agreement does not mention negative balance protection.
• The Risk Disclosure ends with an acknowledgement that you “are responsible for any losses that exceed your initial deposit if applicable under law” (Risk Disclosure).

The website is clear, but the binding documents do not back it up. Do not rely on it.

Deposits and withdrawals

Sources: the funding page (source) and the Help Center (withdrawals, deposits). Local methods are listed for eight countries in Latin America and Asia, including PIX in Brazil, SPEI in Mexico, GCash in the Philippines and UPI in India. Every wallet and account is in USD, so local payments are converted.

There are no card or international wire withdrawals in the sources we read. Points to know before funding:

• ID comes late. You can open an account, deposit and trade with no ID. Verification (an ID front and back plus a selfie) is needed only before your first withdrawal (source). If verification then fails or drags on, your money is already inside.
• Every withdrawal is reviewed by a person. FXNX says: “We don’t promise a time.” If a request is not approved, the full amount goes back to your wallet with a reason (source).
• No third-party payments. Deposits and withdrawals must use an account in your own name (Client Agreement).
• Conduct rules can freeze trading. Under the Client Conduct Policy, a second breach after a written warning lets FXNX suspend your trading accounts; you can then only contact compliance about withdrawing, and reinstatement is at FXNX’s discretion (source).

Start with a small deposit and a small withdrawal before you add more.

Markets and platforms

The instruments page lists 150+ markets by MT5 symbol (source). Counting that list in October 2026 gives 67 forex pairs, 6 metals, 9 indices, 3 energies, 12 crypto CFDs and 55 shares.

Platforms (source):

• MetaTrader 5 on Windows, Mac, iPhone, Android and web. Expert Advisors run here.
• NX Terminal, FXNX’s browser platform with TradingView charts and market, limit, stop and stop-limit orders. It does not run EAs.
• FXNX app for iPhone and Android: the client portal plus NX Terminal. MT5 is a separate app.

FXNX says both platforms are free to use.

AI trading, copy trading and bots

These run only on NX Auto ($200 minimum, $9 per lot):

• FXNX AI answers questions on any account. With AI trading switched on, it can place market orders you type in chat, up to 1 lot “at the time of writing”, only after you confirm; unconfirmed orders expire after 5 minutes (source). The Client Agreement says it gives information only, not advice.
• NX Copy mirrors a leader’s trades into your account. The leader takes a share of new profit above your high-water mark, set per leader by FXNX, and copying pauses if your equity falls a set percentage below its peak (20% pre-filled) (source). FXNX warns that losses can exceed your allocation under margin. See our explainer on copy trading.
• NX Bots are strategies FXNX builds and runs. FXNX says it “earns spread and commission on the trades they place”, which is a conflict of interest to keep in mind.

Bonuses

The bonuses page lists three offers paid as trading credit on an NX Bonus account (source):

The credit cannot be withdrawn. Any withdrawal or transfer out of NX Bonus removes credit, you can run one bonus at a time per account, and hedging across your own accounts breaks the terms (source). FXNX says plainly that a bonus “never lowers your risk”. The NX Bonus account also has the widest starting spread, 1.5 pips, so the credit comes with higher trading costs. You can trade without one.

Is FXNX available in my country?

Section 2.2 of the Terms of Service says FXNX “expressly does not offer its Services to residents of certain jurisdictions, including but not limited to” Australia, Canada, China, Japan, Myanmar, North Korea and the United States. Section 2.3 lets FXNX change the list at any time without notice (Terms of Service, legal page). The list is open-ended, so check your own country’s rules. The AML Policy adds sanctions screening and extra checks for customers from high-risk jurisdictions (AML Policy).

United States: US residents are excluded by the Terms. We do not suggest offshore brokers to US residents.

India: FXNX is not named on the RBI Alert List (updated 19 November 2025). The RBI says the list is not exhaustive and that a name missing from it should not be taken as authorised. Under FEMA, Indian residents may trade forex only in permitted currency pairs through RBI-authorised persons, recognised Indian exchanges or RBI-authorised platforms, and FXNX does not say it holds any Indian authorisation, even though it offers UPI deposits. If you are in India, weigh this legal risk before opening an account.

FXNX alternatives

Bottom line

FXNX lays out its accounts clearly: NX One from $50 at 0.5 pips plus $6 per lot, NX Pro from $2,500 with raw spreads at $5 per lot, and leverage up to 1:500. The website is detailed on bonuses, withdrawals and AI trading.

The foundation is the problem. The only licence FXNX cites shows as suspended on the Mwali registry, with an end date of 11 July 2026, and the binding PDFs predate the company and still describe one account. There is no compensation scheme or independent complaint route, and withdrawals have no promised time.

If the registry shows the licence as active again, start with a small amount and test a withdrawal first. Either way, only deposit money you can afford to lose.