Broker fxopen

Go to the brokers list for alternatives fxopen mobile trading

Fxopen review and tutorial 2021

Go to the brokers list for alternatives

New forex bonuses

FXOpen Review and Tutorial 2021, broker fxopen.

Fxopen is a highly regulated FX & CFD broker offering multiple trading platforms.

Trade major, minor & emerging forex pairs with 1:30 leverage.

Trade on dozens of cryptocurrency coins with 1:2 leverage.

Fxopen is an ECN forex broker offering a range of CFD instruments using the metatrader 4 (MT4) and metatrader 5 (MT5) trading platforms. This review will cover account types, fees, minimum deposits, and more. Find out if you should sign up with fxopen.

Fxopen details

Fxopen started as an educational centre offering courses within financial markets. Then in 2005, a group of traders turned the company into a global brokerage with offices in the UK, russia, new zealand, and australia. Today, the broker’s thousands of traders can be found everywhere from canada and germany to vietnam and nigeria.

The fxopen group operates under FX markets limited, a company registered in charlestown, nevis. Fxopen UK is authorised and regulated by the financial conduct authority (FCA). Fxopen australia is regulated by the australian securities and investments commission (ASIC).

Trading platforms

Metatrader 4

Fxopen was the first broker to offer ECN and STP trading via metatrader 4 (MT4), an award-winning platform that boasts instant trade execution at competitive prices.

MT4 is ideal for both beginners and experts and offers a range of customisable features, including:

50+ built-in indicators & graphical objects for technical analysis

Three types of orders (market, limit, and stop)

Intuitive charting package

Automated trading (eas)

Rich historical data

One-click trading

Trading signals

MT4 is available for download on windows pcs and can be accessed from the platforms page on the broker’s website.

Fxopen also offers the web-based version of MT4 – a great option for those with apple mac pcs, where a direct download is not available. The webtrader terminal has all the same features of the desktop version and is compatible with all major desktop browsers.

Metatrader 5

Fxopen also offers the metatrader 5 (MT5) platform, offering all the features of MT4 with several additional benefits:

80+ built-in indicators & graphical objects for technical analysis

21 timeframes to track price movements

Multi-currency strategy tester

Netting & hedging allowed

Economic calendar

Note, cryptocurrency trading is not available on MT5.

MT5 is available for download on windows pcs and can be accessed from the broker’s website.

Ticktrader

For non-UK customers, fxopen also offers ticktrader, a brand new trading platform offering much of the same features as metatrader and more. Using one trading account – ticktrader ECN, the platform is suitable for both beginners and experts.

Advanced technical analysis tools (30+ indicators)

Customisable user-friendly interface

One/double click trading mode

Detailed charting system

Trading alert system

Strategy back tester

Level 2 pricing

fxopen ticktrader platform

A web-based version of ticktrader is also available. Supporting all the major browsers and operating systems, the ticktrader web terminal offers easy and quick access to trading without the need for a download and without compromising on any features. Users can access the web terminal from the fxopen website.

Markets

Fxopen offers four key markets:

Currencies – trade over 50 major, minor, and exotic currency pairs.

Indices – trade nine global indices including the FTSE 100 and S&P 500.

Commodities – trade on energy and metals such as gold, silver, and crude oil.

Cryptocurrencies – trade over 40 crypto cfds including bitcoin, ethereum, and ripple.

Spreads & commissions

For major forex pairs including EUR/USD and GBP/USD, spreads average around 0.2 pips, whilst for EUR/GBP, spreads are around 0.5 pips. Spreads for the FTSE 100 start from 0.8 pips while for gold and silver, spreads start from 0.27 and 1.2 respectively. Crude oil spreads average around 4 points.

With ECN accounts, forex commissions are charged based on the account balance and start from $3.50 for accounts lower than $1,000 and reduce to $1.50 for account balances over $250,000. Discounted rates for high volume traders are available. Similarly, for cfds indices and commodities, commissions start from $5 for lower account balances and reduce to $3.50 for higher balances. Crude oil and natural gas are charged at either 0.005%, 0.0025%, or 0.0018% per side, depending on the account balance. For cryptocurrency CFD accounts the commission is 0.5% per side.

With STP accounts, the commission is included in the spread.

Other fees to be aware of include swap charges on positions held overnight. Fxopen provides instructions on how to look up a swap fee on their website.

Leverage

Leverage is available from 1:2 for cryptocurrency trading and 1:30 for forex investing. Leverage for indices is set at 1:20 and for commodities, maximum leverage is 1:10, apart from gold which is available at 1:20. Professional clients can access leverage up to 1:500. Speak to the support team to change leverage levels.

Useful margin and pip value calculators are available on the broker’s website.

Mobile apps

Fxopen offers all of its trading platforms (MT4, MT5, and ticktrader) as mobile apps, compatible with ios and android smartphone and tablet devices. The mobile apps provide the same features as the desktop versions as well as added features including push notifications. The apps can be downloaded from the user’s app store or play store.

Fxopen mobile trading

Payment methods

Deposit

Fxopen offers several deposit options in USD, EUR, or GBP. Whilst some options are free, there are some fees to be aware of:

Bank wire transfer – free

Credit/debit cards – free

Webmoney – 3.5%

Trustly – free

Neteller – 1%

Skrill – 2%

Minimum deposits range from 10 GBP, USD, or EUR for cards and go up to 300 for wire transfer. For webmoney, trustly, neteller, and skrill, minimum deposits in the chosen currency are 50.

There is no maximum deposit limit for wire transfer. For cards, the limit is 15,000 (GBP, USD, or EUR) and for e-wallets, maximum deposits are either 10,000 or 20,000.

Note that fxopen also permits virtual prepaid cards for new clients. Local deposits are also available for malaysia and indonesia. Details of these can be found in the help centre.

Withdrawal

Withdrawal methods and fees are as follows:

Bank wire transfer – free for GBP, 30 USD, or 15 EUR

Credit/debit cards – free

Webmoney – 3.5%

Neteller – 1%

Skrill – 2%

Withdrawal times for bank wire transfer usually take 1 – 3 business days, whilst cards take 2 – 5 business days. The minimum withdrawal for bank wire transfer is 50 GBP, USD, or EUR, and for all other methods, the minimum is 10. There is no maximum withdrawal limit for bank transfers, but for card withdrawals, the limit is set at 15,000 GBP, USD, or EUR. All other methods are either 10,000 or 20,000.

Demo account

Fxopen offers a demo account in any of the three account options and with MT4, MT5, and ticktrader platforms. The demo account can be opened from the main page and gives users up to $1,000,000 in virtual funds. The demo server will remain accessible as long as you log in each month. You can then upgrade to a live real-money account when you’re ready.

Bonuses & promotions

For non-UK customers, fxopen offers a $10 no deposit bonus (NDB) for the ECN ticktrader account and the STP PAMM accounts. There is also a $1 welcome bonus for micro accounts and a forexcup trading contest bonus, subject to demo contest terms and conditions. See the broker’s website for the latest promotional codes.

There are currently no bonuses or promotions for traders located in the UK.

Regulation & reputation

Fxopen UK ltd is authorised and regulated by the financial conduct authority (FCA) in the united kingdom. Fxopen australia is regulated by the australian securities and investments commission (ASIC). The broker receives a decent trust rating in customer reviews.

Fxopen also offers negative balance protection for its retail customers.

Additional features

Fxopen offers several additional features, suited to both beginner and expert traders:

Market news

FIX API trading

Customer forum

Economic calendar

VPS (virtual private server) available

Help centre with support options and knowledge base

Myfxbook and zulutrade social and copy trading (non-UK only)

Account types

There are three account types available for UK customers: STP, ECN, and crypto. Tradeable instruments with the STP account are forex, gold, and silver. With the ECN account, you can trade forex, gold, silver, indices, and energy. With the crypto account, you can trade cryptocurrencies.

The minimum deposit across all three accounts is 300 GBP, USD, or EUR, which is fairly high compared to the likes of XM trading and IC markets. There are no commissions with the STP account, however, a commission is charged from $1.50 per lot in the ECN account and 0.5% half-turn in the crypto account. Leverage goes up to 1:30 in the STP and ECN accounts and remains at 1:2 for the crypto account. The minimum transaction size across all three is 0.01 lots.

Fxopen also offers PRO versions of the STP, ECN, and crypto accounts, with higher leverage of 1:500 and lower commission rates. Details of this can be found in the pro tab at the top of the broker’s website.

Note that the fxopen UK entity is unable to provide PAMM accounts.

Benefits

If you look at fxopen vs the likes of FXTM and fxpro, traders benefit from:

MT4, MT5, & ticktrader platforms

Positive customer reviews in 2021

Regulated in the UK & australia

Decent cryptocurrency offering

True ECN model

Drawbacks

Disadvantages of choosing fxopen include:

High minimum deposit for UK customers

More suited to experienced traders

Limited educational tools

Limited range of cfds

Trading hours

Trading hours for forex, indices, and commodities run from 22:00 on sunday to 22:00 on friday (UK time). All crypto instruments are tradable 24 hours a day, 7 days a week.

Check the timezone in your area.

Customer support

There are several ways traders can contact fxopen customer support:

Email – support@fxopen.Co.Uk

Help centre – submit a ticket after registration

Customer support telephone – +44 (0) 203 519 1224 (8am – 6pm GMT)

Trading desk telephone – +44 (0) 203 519 1224 (10pm sunday – 10pm friday GMT)

Live chat including whatsapp & facebook messenger – located in the bottom right-hand corner of the website

The support team can help with ewallet and bitcoin deposits, withdrawal problems, and proof of address queries.

User security

Both the MT4 and MT5 platforms follow industry-standard security requirements, including 128-bit secure sockets layer (SSL) encryption and two-step verification upon login. All client funds are fully segregated at barclays bank plc or lloyds bank plc in london.

Fxopen verdict

Fxopen is a good ECN broker providing a competitive trading environment with multiple platforms for active traders. Although education resources are fairly limited, the low spreads and commissions, as well as a strong track record make it an attractive option, particularly for high volume traders.

Accepted countries

Fxopen accepts traders from australia, thailand, canada, united kingdom, south africa, singapore, hong kong, india, france, germany, norway, sweden, italy, denmark, united arab emirates, saudi arabia, kuwait, luxembourg, qatar and most other countries.

Traders can not use fxopen from belgium, japan, united states.

Is fxopen regulated?

Yes, the brokerage holds licenses with the FCA in the UK and the ASIC in australia. These are two of the most respected agencies and a strong indicator that fxopen is trustworthy.

Is fxopen a good broker for beginners?

Although fxopen is aimed at both beginners and expert traders, there are limited resources available for beginners to learn how to trade. Fxopen also requires a minimum starting capital of £300 which is relatively high.

What leverage is available at fxopen?

Leverage is available up to 1:30 for forex, indices, and commodities, while leverage rates up to 1:2 are available for cryptocurrencies.

What markets are available on fxopen?

You can trade on 50+ FX markets, nine global indices, five commodities, and 40+ cryptocurrencies at fxopen.

How do I open an account with fxopen?

From the broker’s website, you can choose to either open a live account or a demo account from the top right-hand corner. You will need to select which account type you wish to trade and verify your identity and proof of address.

Fxopen

Since: 2005
regulation: ASIC, FCA
platform: metatrader 4/5
minimum deposit: $ 1
maximum leverage: 1:500

From the first days of its existence, and to this day fxopen is guided by such principles as fair, professional, and convenient trading conditions. The core of the company is development and improvement of advanced technologies in the trade.

Unlike many brokerage firms, based solely commercial purposes, fxopen was founded by a group of traders and has come a long way from becoming a training center to a successful and rapidly growing forex broker world level. The company was founded as an educational center, offering training to technical analysis of financial markets. In 2005, the urgent need for fair and affordable brokerage services was the reason for the transition from the provision of educational services to the brokerage. Focusing on the interests of customers, fxopen is the first time in the forex market offered traders micro accounts. Did not remain without attention and the fact that the clients of islamic faith need special type of account that allow to trade without violating the laws of sharia. Thus, the broker made it a rule to offer customers the services which they really need.

Working from the outset on the basis of the most widespread and user-friendly trading platform metatrader 4, fxopen is thoroughly studied its features. As a result, it was decided to develop on the basis of the MT4 platform the software product, the use of which would resolve the conflict of interests of traders and brokers, while retaining all its advantages. Thus, in 2009, was created the first market platform metaтrader 4 (MT4) ECN trading. MT4 ECN in conjunction with the minimum volume of trades 0.01 lot, especially fast order execution and trust management technology (PAMM accounts), has become a real revolution in the world of forex, and currently has no equal among competitors!

Regulation: fxopen AU pty ltd. Authorised and regulated by the australian commission of securities and investments (ASIC). AFSL 412871 – ABN 61 143 678 719. Fxopen ltd. Registered in england and wales (company number 07273392), and also authorized and regulated by the office to monitor compliance with the rules and norms of behavior in financial markets (financial conduct authority), formerly known as the office of financial regulation and supervision (financial services authority), under the registration number of the company in FCA 579202. Fxopen NZ limited is registered as a financial services provider in the financial service provider register in new zealand (license number FSPR FSP192685) and is a member of the scheme resolution of financial disputes (financial dispute resolution scheme).

Address:
fxopen - level 3 187 queen street, cbd, auckland, 1010, new zealand
phone:+64 9 801 0123
fxopen AU pty ltd - level 31 RBS tower, 88 philip st sydney NSW 2000 australia AFSL: 412871 ABN: 61 143 678 719
phone: +61 0282 110 432, +61 0282 110 433, +61 0282 110 434

International offices:
auckland, new zealand; sydney, australia; cairo, egypt; moscow, russia.

Status of the broker: independent broker

Opportunity to trade for US residents: no

Trading platform – the meta trader 4 meta trader 4 for ECN; mobile applications for iphone, android, windows mobile.

Islamic accounts is present. The clients of islamic faith, are swap-free accounts

Methods of deposit/withdrawal: moneybookers; webmoney; RBK money; wire transfer; fasapay (payments in indonesian rupiahs); cashu; c-gold; payza; top up card; convenient payment methods for some regions (latin america, mexico, malaysia, iran, indonesia, china, thailand), credit/debit cards, intellect money, dixipay, qiwi wallet, neteller, perfect money, yandex.Money, skrill, sorexpay, money online, bitcoin, namecoin, litecoin.

Bonuses – 1) welcome bonus; 2) the bonus for participation in contests forexcup traders; 3) no deposit bonus for STP accounts.

Affiliate program – different offers of the partnership.

Benefits of trading with fxopen:
- lowest spreads starting from 0 points;
- 24/5 multilingual customer support phone email and live chat.
- minimum initial deposit – 1 USD;
- secure online payments;
- stop out and margin call is the negative balance protection;
- advanced affiliate program;
- free shopping resources: economic calendar, currency quotes, stocks, currency converter, forex and news in real time;
- free video lessons.
- updated the module LEVEL II.

Fxopen – ECN gross bonus 10$

Fxopen

Promotion name: no deposit bonus for ECN GROSS ticktrader accounts

How to get:
1. Register an fxopen ewallet.
2. Get grade 1 verification (phone verification) for your ewallet.
3. Open an ECN ticktrader GROSS trading account.

Withdrawal requirements:
the bonus is not withdrawable.
You can withdraw profit when your trading volume exceeds 1 lot.

More information:
the bonus will be added automatically to the first ECN TT gross account that you open. The offer is valid for 90 days from the ewallet registration date.

Information about the broker:
fxopen is operated by the fxopen markets limited, a company registered in charlestown, nevis.

Promotion valid: until cancellation.

Do you recommend this bonus?

What’s new?

XM group – year of the metal ox

XM group – red envelope 2021

Roboforex – welcome bonus 30$

Fxopen – ECN gross bonus 10$

Fxopen broker review – how does this forex pioneer rank?

Fxopen review

Fxopen is an early pioneer in the forex broker sector. Fxopen has many features and tools that have led to over 1 million traders making fxopen their broker. Read our review to learn more about fxopen and if it is right for you.

Fxopen

Fxopen is an industry pioneer. They have been around since 2003 when they started out as an education and research organization, helping traders learn more about trading and market analytics. They began to offer broker services in 2005, and were one of the first in the sector to offer both micro, and islamic accounts. Fxopen has grown to their present position where they offer services to over 100 nations, and have amassed more than 1 million traders.

Account opening

Fxopen offers four distinct account types to its traders. These are their micro account which was one of the first in the industry from any broker, STP account, ECN account, and a crypto account with dedicated trading in 43 crypto pairs.

This offers traders the opportunity to specialize their trading aims within the correct account. It is quite the opposite approach of some other major brokers like fxchoice who prefer to focus on one combined account type.

Minimum deposit

The minimum deposit required by fxopen varies depending upon the account type you choose. They feature a 1 USD minimum deposit for opening a micro account. This is still one of the lowest in the industry. When it comes to the STP and crypto accounts, the minimum deposit requirement is 10 USD, and finally for the ECN account, a 100 USD minimum deposit is needed.

Overall, these represent excellent value when compared with other top brokers we have reviewed .

Availability and ease of opening

As stated, the broker offers service to most countries around the world, and currently features live traders from more than 100 nations. The only notable exception, as with most all brokers, is that residents of the united states are not allowed to trade.

Opening an fxopen demo account could not be easier. This process can be completed within just a few minutes, and all that is required to get started is your verified email address and password. From here you have the choice of selecting which type of account you wish to open as a demo.

Opening an fxopen live account is a similar process with the additional steps of completing your personal information profile and electronically uploading both your proof of ID, and proof of residence documents. This process can also be completed within minutes to get you up and trading live in no time.

Product offerings

The broker makes extensive offerings across each market sector. These are primarily focused on currency pairs with a total of 95 offered, inclusive of 43 crypto pairs which are promoted by the broker. This makes their offering more extensive than many competitors in this area, and provides options for all manner of traders.

In terms of cfds, fxopen offering on the other hand is rather sparse. This numbers on 16, a total which may disappoint some more experienced traders hoping for a wider range of CFD offerings.

Fxopen commissions and fees

Fxopen offers commission-free trading on both their micro account, and the standard STP account . These accounts feature typical spreads of between 1.5 – 2.0 pips on major currency pairs. By the industry average, this could be consider as slightly high.

Moving to the ECN account. This account type offers the lowest available spreads starting from 0 pips. This account does charge commission from 15 USD per standard lot of 100,000 currency units traded. The brokers crypto account holder are also subject to a 0.25% charge on the transaction volume. These charges fall about in line with other major brokers in the industry.

Non-trading fees

For non-trading fees, the broker charges a percentage fee on almost all methods of deposit and withdrawal. This includes 2.29% on credit and debit card deposits, and 3.5% + 3.50 USD on withdrawals. Bank transfers also incur a high fee of 45 USD.

Fxopen also charge an inactivity fee of 10 USD per month after 90 days of inactivity. Furthermore, there is a reactivation fee of 50 USD for traders who wish to begin trading again once an account is deemed inactive.

Fxopen platforms and tools

Fxopen are a metatrader only broker. This means they offer only MT4 and MT5 platforms from metaquotes. These platforms are offered in all their variations including desktop, web based, and mobile.

Desktop platform

The broker offers both MT4 and MT5 in desktop and web based format. This is a popular and well-respected offering which hundreds of industry brokers have chosen to implement. Both platforms function in vastly similar ways regardless of the broker which offers them. This allows some comfort and uniformity to traders who can then easily transition between services.

Fxopen is no different, offering the robust traditional layout of both platforms with their highly customizable central consoles set to display up to four chosen markets. Much of the operation is controlled by the upper and left side taskbars which allow for everything from monitoring popular markets, to implementing automated trading strategies.

The ordering systems are both concise and powerful, providing all of the available options in a simplistic fashion with the focus much more on trading than appearance. The lack of visual frills which may be a challenge for new users to acclimatize to, also means the platform runs faster and smoother than many others in the industry. This is one of the major reasons MT4 has managed to stay in such widespread use for so many years.

The broker also manages to incorporate PAMM account, and social trading options through the likes of zulutrade.

Mobile trading platform

MT4 mobile harnesses many of the same positive attributes as the desktop variety when it comes to ease of use and functionality. It remains one of the only trading platforms where you can change your broker within the same application.

The mobile version also retains the vast and powerful charting capabilities, with many more indicators also available to implement than any other industry trading platform, third-party or otherwise.

Education and research

Education and research opportunities with the broker are available primarily through their dedicated blog . This is compiled by their in-house team of experts and covers all manner of areas such as market analysis and updates, to providing top tips on how to become the best forex broker.

Fxopen also provides its economic calendar and market news updates courtesy of fxstreet . The available options in both categories are quite sufficient for both new and experienced traders, although considering the brokers original background in forex education, traders may expect a little more.

Fxopen differentiators

From making their first entry into the industry in 2003, the broker has spent the best part of two decades with some involvement in the forex field. This is already a huge differentiator when compared with almost all other competitors. This level of experience is something which should put fxopen one step ahead of many in the sector when it comes to perception of trader’s needs.

The broker makes it very easy to get started. They have continued use of the micro account which they pioneered many years ago, and this acts as an ideal gateway for many new traders to become involved in forex trading. It is also an even more accessible entry point than the low deposit offerings of other brokers like FXTM.

Customer service

Fxopen customer service channels are easy to access and available in multiple languages. These services include local telephone support, a web-based live chat, and an email support system. All of these options are available on a 24/5 basis from 7am – 4pm GMT.

The responsiveness of each support method when tested was good, on a par with any other offerings in the industry, and all of the information provided was pertinent to the questions being asked.

The broker also provides an extensive help section through their website which features detailed answers to a broad range of topics a trader may have.

Trustworthiness

As with all brokers, trustworthiness is one of the elements which is of paramount importance to traders. This is an area where the experience of fxopen is visible. They are regulated in both the UK (FCA), and australia (ASIC). These two bodies represent two of the most respected regulators in the world of finance.

Furthermore, having spent the majority of the last twenty-years involved in some shape or form with the industry, a high level of trust can be instilled in fxopen. With in excess of 1 million traders globally, although some of the platform features or fees come in for criticism, the trustworthiness within the operations are clear and resolute.

Fxopen conclusion

Fxopen is strong in a number of areas, not least that they have a history steeped in pioneering decisions within the forex industry. These decisions, such as the opening of micro and islamic account options undoubtedly led the broker to the head of the industry where many competitors followed.

They still do provide a top quality service to many brokers across the world, and continue to make the market as accessible as possible with the lowest deposits and ability to operate within the most stringent of global regulations for the protection of traders. That said, their fees are very high. These could really benefit from being reduced or reviewed if the broker wants to continue its long reign within the forex industry.

Fxopen review

This broker was not featured in our 2021 broker review audit. This is because, in the past 12 months, it has failed to pass our initial screening process and is not recommended by our team of experts. As such some of the information found here may be out of date.

We review all brokers to a strict and unique methodology, to ensure that we only promote high quality brands that you can trust. This methodology considers over 200 criteria points, covering the categories of safety, fees, platforms, products, payments and customer support. All brokers are then given a score out of 100. We update this methodology and our recommended reviews yearly, so that you’re only given up to date information.

If a broker has a score less than 80, like this one, we won’t recommend it to you. So that we don’t waste your time, we don’t update these reviews either. We know you don’t want to read a long review of an untrustworthy broker. Instead, you can use the tool below to find a high-scoring broker that accepts clients from your country.

Brokers available in united states

Discover a broker you can trust by reading our in-depth and honest reviews, created by industry experts. Since 2015, we’ve reviewed over 200 forex brokers.

Fxopen has been in the FX trading business since 2005, which makes it a fairly established company in the current crop of FX brokers. The entire project began in egypt during 2003 as a research and educational center for technical analysis, but gradually, the founders moved into the brokerage business by setting up a full-fledged forex brokerage company. Fxopen is also well-known for their introduction of sharia-compliant accounts, where are directly aimed at muslim traders who are required to follow all islamic rules of trading such as the elimination of SWAP and other interest-based fees.

Fxopen is proactive in keeping up with the times and has evolved into a competitive broker that has designed its services to suit all types of investors. One of the primary attractions of fxopen is their ability to offer FX trading products for a small initial deposit of just $1, which should help traders to test the market with a small capital before taking the plunge and investing huge money.
Fxopen was successful in opening up the FX market to a ton of new traders, who were previously unable to enter the world of FX trading due to high deposit requirements. Fxopen should be attributed towards bringing FX trading to the masses, even though some companies had already started offering micro accounts for amounts as small as $50. However, fxopen rewrote the rulebook by providing a trading account for a minuscule amount of just $1, which was indeed considered revolutionary at that time.

Does A small deposit mean that fxopen is not regulated?

For a large part of the company’s FX operations, the broker was not regulated by any agency, which saw it facing criticisms and consumer complaints from a majority of their clients. The lack of regulatory oversight does prevent companies from being completely honest with their traders. However, the company soon realized that they had to move into a different region and become a part of a regulatory organization if they are to survive in the highly competitive financial market. In 2011, fxopen switched its operations to new zealand, and at present, fxopen regulation is taken care of ASIC.
ASIC regulated forex brokers are highly regarded for their reliability and security, which should offer a sense of confidence and peace of mind while trading with fxopen. Regrettably, fxopen does not provide its services to US traders, which prevents US citizens from taking advantage of the forex markets using a small initial deposit. CFTC rules of 1:50 maximum leverage also prevent traders from opening any sizeable position using a negligible equity such as $1. Therefore, it doesn’t make sense for fxopen to offer micro accounts in the US, but they could have set up a dedicated brokerage in the US for standard accounts, as a CFTC and NFA regulation would have added further credibility for the company’s FX operations.

Account options, the maximum fxopen leverage, spreads, & other costs of trading

Fxopen has three different types of account that are classified according to the type of deposit and trading features. The micro account is the smallest account option that allows clients to start trading using an initial deposit of $1. The micro account is a market maker account, which attracts the highest spreads, re-quotes, and slippages. Although the micro account is ideal for small traders, the overall trading conditions are not favorable for long-term trading. The high fxopen leverage of 1:500 also puts a strain on the trader, as lower equity and higher leverage are always considered to be the downfall of a trader.
The other two types of accounts are known as the STP and the ECN accounts, which are available for deposits higher than $300. Once again, the company displays its dedication to its clients by offering a full ECN account for a small initial deposit. Some forex brokers offer access to their ECN accounts only for deposits higher than $1000 or even $5000. Regarding the trading conditions, STP and ECN accounts have similar features, with the exception being the fxopen spreads and commissions per trade. While ECN accounts are associated with commissions per trades, STP accounts have higher spreads. Perhaps one of the major drawbacks of fxopen is the spread on major currency pairs, as the broker is known to display spreads ranging from 3 to 7 pips for the majors such as EUR/USD and USD/JPY, which is certainly higher than the industry norms. All overnight trades attract a SWAP unless the trader has opted for an islamic account, which eliminates the concept of interests on margin or other fees.

Does fxopen have A proprietary trading platform?

Traders have access to the MT4 terminal as the standard fxopen platform for all types of ECN, STP, and micro trading. The broker hasn’t bothered to develop a proprietary trading interface, which is not necessarily a bad thing, considering that the MT4 is the most widely used trading software in the world. Fxopen mobile traders can also log into their trading accounts using the MT4 app designed for android and ios. Fxopen uses a bridge technology for trade execution, which is developed by the company for their ECN accounts. ECN accounts are by far the best regarding trade execution and server speeds. However, the micro and STP accounts are slower in comparison.
Fxopen offers access to a VPS server for traders looking for lower latency and super-fast execution speeds, which are available for high-volume traders. Other traders can avail this service for a $30 monthly fee.
Fxopen also supports a wide variety of payment options, and all deposits and withdrawals are made instantly. The withdrawals do take some time for verification, but fxopen is one of the best forex brokers when it comes to initiating fast withdrawals. Although users can make payments through bank transfers, credit card payments, or through electronic payment systems, fxopen charges a fee for each transaction. Fxopen clients should check with the fxopen representatives regarding the fees and cost of a transaction before making a deposit or withdrawal.
Fxopen is the perfect broker for investors with a small initial capital, or for institutional traders who are looking for a reliable and secure forex broker. Traders can also test their trading skills using an fxopen demo account, but the ability to make a small deposit is certainly a good way to test the markets without risking too much. Apart from a few complaints about the inefficiency of their customer service department, fxopen is certainly a high-quality broker that is perfect for traders from different backgrounds.

Fxopen

Since: 2005
regulation: ASIC, FCA
platform: metatrader 4/5
minimum deposit: $ 1
maximum leverage: 1:500

International offices:
auckland, new zealand; sydney, australia; cairo, egypt; moscow, russia.

Status of the broker: independent broker

Opportunity to trade for US residents: no

Trading platform – the meta trader 4 meta trader 4 for ECN; mobile applications for iphone, android, windows mobile.

Islamic accounts is present. The clients of islamic faith, are swap-free accounts

Bonuses – 1) welcome bonus; 2) the bonus for participation in contests forexcup traders; 3) no deposit bonus for STP accounts.

Affiliate program – different offers of the partnership.

Fxopen review

Fxegypt

Fxopen is a forex broker. FX open offers the mobile, MT4, MT5 and web trading platforms. Fxopen.Com offers over 50 currency pairs, CFD, bitcoin and other cryptocurrencies for your personal investment and trading options.

Fxopen.Com is the nevis branch of fxopen.

The australian branch is at fxopen.Com.Au. The UK branch is at fxopen.Co.Uk

Also known as:
forexbrazilian.Com, fxopen.Ae, fxocnmarkets.Com, fxislamic.Com, fxfrench.Com, fxopengermany.Com, tradefxind.Com, fxmalay.Com, fxopen.Com.Mx, fxopenthai.Com, fxopentrading.Com.

Broker details

deposit methods:

bank wire, VISA, mastercard, epayments, fasapay, intellectmoney, JCB, local bank transfers, maestro, neteller, paytoday, perfectmoney, poli, qiwi, RBK money, skrill, unionpay, webmoney, yandex money

Live discussion

Join live discussion of fxopen.Com on our forum

Video

Your company video here? Contact ad sales

Let other traders know if this service is worth checking or should be avoided.

Traders reviews

Length of use: over 1 year

In december 2020 i will complete 6 years of trading with fxopen. This broker is an ECN broker so all the trades go into the inter bank markets and the liquidity providers. This enables me to get my all the orders fulfilled at any time whether it is the release of the high impact news.

Other brokers many of who are market makers will be trading against you and so you will have a difficult time in earning consistent profits with them.

During these years i have been making consistent income from my trading. When i started trading i was using webmoney for both deposits and withdrwals but in the year 2018 i shifted to bitcoin as it was easy for me to cashout.

When i make a cashout i am paid in under 3 hours and this is important as the rates of the BTC are moving very fast.

Length of use: 0-3 months

We are sorry to read about your negative experience with fxopen and understand your frustration.

Unfortunately in summer the internal procedures of our card processors have changed, which has led to double-conversion. SEPA transfers were also temporarily unavailable for the clients of fxopen markets limited.
We fully understand that it creates both additional charges and inconveniences to our clients.

Therefore, we do our best to make it up to our clients by offering the reimbursement of deposit charges.
In your case, we have also offered you a deposit bonus and a commission-free account as a sign of good will.
Please not that it is fully legal to offer to cover any fees to our clients and cannot be viewed as bribery.

At the moment fxopen markets limited offer commission free SEPA deposits. They are available in fxopen backend – https://my.Fxopen.Com

We would also like to stress that our offer still stands – commission free account for 6 months and reimbursement of all deposit related fees conversion fees included (if any).

We wish you a happy new year and we would be honoured to welcome you among our clients again.

Fxopen review

Overview

The broker with unblemished reputation offers easy trading, pioneering platforms, recurring revenue in PAMM-account system etc.

Details

broker	fxopen
website URL	fxopen.Com
founded	2003
headquarters	P.O. Box 590, springates east, government road, charlestown, nevis
support number	+64-9-801-0123, +49-693-329-6294, +33-979-998-040
support types	telephone, email, online chat, callback, office, forum, ticket system
languages	french, spanish, chinese, portuguese, arabic, italian, korean, german, polish, turkish, japanese, thai, hebrew, dutch, etc.
Trading platform	webtrader, metatrader 4, zulutrade, myfxbook, fxopen trader
minimum 1st deposit	1$
minimum trade amount	0,1$
maximum trade amount	with no restrictions
bonus	welcome bonus 10$
leverage	1:500
spread	from 0 points
free demo account	open demo
regulated
regulation	ASIC (№412871), FCA (№579202)
deposit methods	bank transfers, bank cards (credit / debit) visa / mastercard, epayments and chinaunionpay, webmoney, qiwi, neteller, skrill, sorexpay, RBK money, payza, intellectmoney, yandex, perfectmoney, OKPAY, bitcoin, litecoin, ethrereum, tether , emercoin, etc.
Withdrawal methods	bank transfers, bank cards (credit / debit) visa / mastercard, epayments and chinaunionpay, webmoney, qiwi, neteller, skrill, sorexpay, RBK money, payza, intellectmoney, yandex, perfectmoney, OKPAY, bitcoin, litecoin, ethrereum, tether , emercoin, etc.
Number of assets	50+
types of assets	forex, CFD, stocks, metals, cryptocurrencies (bitcoin, litecoin, ethrereum, tether, emercoin, DASH, etc.)
account currency	USD, RUB, EUR, AUD, CHF, GBP, JPY, etc.
US traders allowed
mobile trading
tablet trading
overall score	9.7/10

Full review

And yet, fxopen is a fraud and a scam that deceives its users or an honest and secure platform that guarantee them stable earnings, constant communication, and support of managers, as well as the trouble-free withdrawal of funds from the site. You can find out about this by getting acquainted with our next review.

Fxopen is one of the experienced financial organizations that has been successfully operating since 2003, which provides the client with ample opportunities to earn money through forex trading. Initially, the brand offered to the players help services in mastering the rules and features of trading in different markets. However, thanks to the well-coordinated work of the team, as well as the need for a simple investor in a high-quality and reliable platform, the team had an idea to become a serious broker providing intermediary services between the market and the user in order to make the trade process comfortable and efficient. So, in 2005 appeared a full-fledged platform, well-known today among traders for a number of advantages.

Its peculiarity is that the resource does not stand still, it improves the options, and the authors constantly offer the user innovative options. This allowed the project to occupy high lines of forex brokers’ ratings, to have many prestigious awards. The company was among the first to offer profitable ECN accounts to the trader, as well as «islamic» accounts. Among its other advantages: offices around the world (in australia, new zealand, england, etc.), several licenses: FCA (no.579202, england), ASIC (no.412871, australia), etc., an impressive number of instruments, including the crypto-currency for trade, the availability of professional technical support. Quotations to the platform are provided only by trusted banks-suppliers GOLDMAN, bank of america, deutsche bank AG, SG paris, etc.

Trades take place in a reliable software product that has long been verified by millions of traders – metatrader 4. This unique terminal has been adapted for profitable trading on the ECN system and today is a powerful and functional solution providing stability of work, as well as full analysis, strategy testing, search for accurate signals. Available free mobile platform MT4 (android, ios), tablet owners (android 1.6 and above) is waiting for the author’s development of fxopen trader. The broker also offers automatic trading of robots in zulutrade and myfxbook terminals, which have an impeccable reputation on the part of traders. They will allow a simple market player to become a professional investor, easily monitor the status of their account.

Fxopen is important to make comfortable and profitable trades for a wide range of traders, for this, various accounts are available: standard, as well as STP-, ECN-accounts for working with crypto-currencies (find out the truth about cryptocurrency here). In the mode of free training trade, you can safely test the effectiveness and honesty of the platform without losing your capital. All participants in the system are offered PAMM-accounts, with the help of which on the site fxopen.Com you can find professional managers of PAMM-STP, as well as PAMM-ECN-traders ready to cooperate with users on mutually beneficial terms. This is a special system aimed at professional investors, which gives them the opportunity to receive additional income. This includes options for copying transactions, auto-trading, and affiliate program. Quickly find exactly the proposal, which is interesting to the participant of the platform, will allow a convenient system of filters. Each player can visit the forum and leave their comments about pamms here. This system will make it easy and easy to make money, while not working at all.

We also note one more advantage of the company – interesting contests, the winners of which are expected to be no deposit bonuses. Here often competitions are held on training bills where participants receive real money as a prize. It is important for traders to know that for the withdrawal of funds it is necessary to undergo a fast verification procedure, providing managers with passport data. The official site fxopen.Com is convenient, differs in formativeness, here the broker offers materials about the company, training programs, step by step instructions of work, a calendar, actual news, calculators and other tools.

Replenishment and withdrawal of funds

Fxopen customers have a large number of options for fast transactions, from which the trader will easily find the most convenient service. So, to enter funds into the account are offered:

Bank transfers,

Bank cards visa/mastercard, chinaunionpay, etc.

Payment systems (webmoney, qiwi, neteller, skrill, OKPAY, intellectmoney, yandex.Money, perfectmoney, etc.),

Crypto-currencies: bitcoin, tether, litecoin, ethrereum, etc.

The withdrawal of earnings occurs with the help of:

Bank transfers,

Bank cards visa/mastercard,

Electronic systems (webmoney, qiwi, neteller, perfectmoney, etc.),

Crypto-currencies: bitcoin, litecoin, tether, emercoin, etc.

Complaints about fxopen

The fxopen broker has been functioning on the market for a long time, so there are many different opinions on working with it. Positively noted interest of the company in the earnings of customers, a stable terminal without slips and failures, as well as favorable terms, different strategies (including scalping, automated trading of robots), fast execution of bets, a lot of tools, convenient accounts, as well as contests with real prizes, narrow spreads, quick withdrawal, earning opportunities with the PAMM investment system, licenses of several financial bodies, etc. Site customers recommend it to other internet users. In addition, the network employs a company manager who actively responds to comments and questions from customers – this indicates that the broker does not care for the service provided to the user.

In the network, you can find negative comments, which mainly relate to the lack of communication with the company, long withdrawal of funds, frequent disruptions of terminals, etc.

If we find complaints about fxopen, we will post it on social media. Follow us to be well informed:

Regulation of fxopen

Fxopen works under several brands:

As the company fxopenmarketslimited, registered in nevis (registration number – 42235; FCA (no.579202), has the membership of the financial commission,

As the company fxopen AU pty ltd, which has a registration in australia (ASIC, no.412871),

As OOO efeksopen (fxopencompany), a financial consultant in russia.

In addition, the broker has a number of other licenses.

Is fxopen a scam?

Fxopen is one of the leading and experienced sites, providing a variety of opportunities for investment in financial markets. It has been working for more than 10 years, it has a lot of advantages that distinguish it from other competitors (read the whole truth about forex here). The platform is evolving, does not stand still, doing much to ensure that users are comfortable working with it. This can explain her prestige and reputation, the presence of many serious victories and innovative solutions.

It is beneficial to cooperate with a resource because the issue of security is effectively worked out, which means that bidders do not have to worry about their means and information. The existence of several licenses (for example, FCA (no.579202, england), ASIC (no.412871, australia), new zealand (no.5598865), etc.) confirms that the site is not a fraudster who seeks to collect money and cheating traders. On the contrary, it is an experienced company that considers its mission to provide high-quality service, a stable terminal, constant communication with the support service. For investments, a lot of assets are available (forex, shares, crypto-currencies, etc.), several accounts are offered, free training trade.

Representatives of fxopen are serious about the service offered to the user. Only the proven solutions of the market players are available here. They can make trading efficient – metatrader 4, zulutrade, myfxbook, mobile applications. A modern platform fxopen trader, which is an innovative development of the company, is also provided. Separately, I would like to mention an interesting system of PAMM-accounts, which is focused on passive income from investments in professional investors with extensive trading experience. Here works a filter to find the proposal that will be interesting to the client, the forum can read reviews about the participants of the system, leave a comment. On the official site fxopen.Com a lot of useful information is available, these are training and analytical materials. It is comfortable to be traders from different countries, tk. The resource has popular language versions.

On the internet at the moment, you can learn a lot of comments on cooperation with this well-known brand. Traders often call it an opportunity to get real income, the stability of the terminal, a variety of accounts and assets, trade in robots, narrow spreads, stable communication with managers, free training trade, work with crypto-currencies, etc. (on how to actually earn on the cryptocurrency, find out here). In this case, traders recommend the platform to friends and familiar investors. Let’s note here that the manager actively works on the network on behalf of the company, processing questions of users. This confirms that the playground is not a scum and a divorce, but a serious broker. Negative feedback about the organization is less, usually, they relate to the hang of the terminal, long withdrawal, lack of communication with managers, etc. Should I call fxopen’s trial site a divorce and a fraudster? Having become acquainted with the platform’s capabilities, we will not make such a conclusion today, because the brand works successfully enough, develops, offers high-quality service and proven solutions for trade, including its author’s developments, etc.

Conclusions

Forex broker fxopen today can rightfully be called one of the most experienced and professional forex companies, which does a lot to make its service simple, comfortable and functional for the user of any level of preparation. Unique options, many options for transactions, the availability of serious licenses, offices in different cities around the world, constant communication with managers, a large number of positive feedback from users, etc. – all this sets off a reliable platform among other similar organizations.

Having become acquainted with the broker’s service and possibilities in more detail, today we will not say that fxopen is a divorce, but we expect real comments from traders about the company that will make it possible to get a full picture of cooperation with it, will help to warn users in time about any problems in the work platform.

Fxopen – ECN gross bonus 10$

Fxopen

Promotion name: no deposit bonus for ECN GROSS ticktrader accounts

How to get:
1. Register an fxopen ewallet.
2. Get grade 1 verification (phone verification) for your ewallet.
3. Open an ECN ticktrader GROSS trading account.

Withdrawal requirements:
the bonus is not withdrawable.
You can withdraw profit when your trading volume exceeds 1 lot.

More information:
the bonus will be added automatically to the first ECN TT gross account that you open. The offer is valid for 90 days from the ewallet registration date.

Information about the broker:
fxopen is operated by the fxopen markets limited, a company registered in charlestown, nevis.

Promotion valid: until cancellation.

Do you recommend this bonus?