FXOpen – Forex Broker review

FXOpen – Forex Broker review
3.4 (68%) 5 votes

Read FXOpen forex broker review, rating and detail information for their services below. FXOpen founded in 2003 as a financial trading education center in Egypt. It has launched its forex brokerage services in 2005. FXOpen is the first forex broking farm which offers ECN trading with MetaTrader 4 trading platform and PAMM accounts. Earlier they offered micro contracts and swap free forex account. Also, FXOpen is the first forex broker who offers Bitcoin Trading. FXOpen is a leading global forex broker. Furthermore, FXOpen reached $100 billion in monthly trading volume after launching an STP account in 2013.

FXOpen PAMM account
FXOpen PAMM account

Regulation

FXOpen is regulated by the Financial Conduct Authority (FCA) in United Kingdom. They also have their own office in Australian which is called FXOpen AU Pty Ltd. In Australian, it is regulated by the Australian Securities and Investments Commission (ASIC). UK based forex brokers must maintain tangible assets amounting to at least €730 000 as a proof of their financial stability. On the other hand, Australian forex brokers must hold a minimum of $ 1 million.

Trading Platforms

FXOpen is the first forex broker in the world who offers MT4 ECN trading platform with PAMM accounts. Currently FXOpen offers 5 different versions of MetaTrader 4 they are MT4 ECN, MT4 STP/Micro, MT4 WebTrader, MT4 Android Mobile and MT4 iOS Mobile. They also provide MetaTrader 5 with hedging feature. FXOpen also gave an access to ZuluTrade trading platform to their traders for auto-trading.

Commissions & Spreads

The spreads in FXOpen are in the form of fixed and floating spreads. Spreads for the ECN account are as low as 0 pips. As for the commission rates, they start from $15 for the ECN account and 0.25% of volume traded for the Crypto account.

FXOpen ECN

Payment options

FXOpen Supports credit/debit cards, bank wire, Skrill, Neteller, Payza, WebMoney, SorexPay, Yandex Money, FasaPay, IntellectMoney, OKPAY, ePayments, RBK Money, China Union Pay and Bitcoin and ETH for deposits and withdrawal. Finally, they also provides FXOpen Prepaid Card for their clients.

Support

Customer support at FXOpen is available 24/5. There are several ways which you can get in touch with the support team such as email, live chat or telephone. They also have the benefits of multi-lingual support and it is available in France, Germany, New Zealand, Russia, Spain.

FXOpen Detail Information

Company FXOpen NZ Ltd, FXOpen AU Pty Ltd, FXOpen UK
Founded in 2003
Online since 2005
Offices in Australia, New Zealand, Russian Federation, Saint Kitts and Nevis, United Kingdom
Payment options Bitcoin, CashU, Credit/debit cards, DIXIPAY, FasaPay, giropay, IntellectMoney, Liqpay, Litecoin, Local bank transfer, Namecoin, Neteller, Payza, QIWI, RBK Money, Skrill, SOFORT, UnionPay, WebMoney, Wire transfer, Yandex.Money
Demo platforms MetaTrader 4 (Limited with 30 days of inactivity)
Account currencies Australian dollar, Euro, Great Britain pound, Japanese yen, Russian rouble, Singapore dollar, Swiss franc, United States dollar
Currency pairs
AUD/CAD AUD/CHF
AUD/JPY AUD/NZD
AUD/USD BTC/CNH
BTC/EUR BTC/RUB
BTC/USD CAD/CHF
CAD/JPY CHF/JPY
EUR/AUD EUR/CAD
EUR/CHF EUR/DKK
EUR/GBP EUR/HKD
EUR/JPY EUR/NOK
EUR/NZD EUR/PLN
EUR/SEK EUR/TRY
EUR/USD GBP/AUD
GBP/CAD GBP/CHF
GBP/JPY GBP/NZD
GBP/SGD GBP/USD
HKD/JPY LTC/BTC
LTC/CNH LTC/EUR
LTC/RUB LTC/USD
NMC/BTC NMC/USD
NOK/JPY NOK/SEK
NZD/CAD NZD/CHF
NZD/JPY NZD/SGD
NZD/USD PPC/BTC
PPC/USD SGD/JPY
SIL/VER USD/CAD
USD/CHF USD/DKK
USD/HKD USD/JPY
USD/MXN USD/NOK
USD/PLN USD/RUB
USD/SEK USD/SGD
USD/TRY
Regulated by ASIC, 412871; FCA (UK), 579202; The Financial Commission
Website available in Arabic, Chinese, English, Indonesian, Russian
Support available in Arabic, Chinese, English, German, Indonesian, Malay, Russian
Support methods Callback, Email, Forum, Live chat, Skype
Trading server time zone GMT+2
VPS for traders Free after trading 5 lots.

FXOpen Features

  • Bonus offers
  • Trading contests
  • PAMM accounts
  • Managed accounts
  • Affiliate program
  • Islamic accounts available

Account Types

FXOpen has MT4 ECN trading platform with PAMM accounts. which combination makes for difficult trading conditions, safe order execution, speed of operations and consistent support.

  • Micro Account
    • Hedging
    • Trailing stop
    • Pending orders
    • One-click trading
    • Mobile trading
    • Automated trading
  • ECN Account
    • Hedging
    • Overnight interest rates (swaps)
    • Trailing stop
    • Pending orders
    • One-click trading
    • Mobile trading
    • Automated trading
  • PAMM Standard Account
    • Hedging
    • Trailing stop
    • Pending orders
    • One-click trading
    • Mobile trading
    • Automated trading
  • PAMM ECN Account
    • Hedging
    • Trailing stop
    • Pending orders
    • One-click trading
    • Mobile trading
    • Automated trading
  • Micro ECN (FXOpen AU) Account
    • Hedging
    • Overnight interest rates (swaps)
    • Trailing stop
    • Pending orders
    • One-click trading
    • Mobile trading
    • Automated trading
  • Standard ECN (FXOpen AU) Account
    • Hedging
    • Overnight interest rates (swaps)
    • Trailing stop
    • Pending orders
    • One-click trading
    • Mobile trading
    • Automated trading
  • VIP ECN (FXOpen AU) Account
    • Hedging
    • Overnight interest rates (swaps)
    • Trailing stop
    • Pending orders
    • One-click trading
    • Mobile trading
    • Automated trading
  • Crypto Account
    • Hedging
    • Overnight interest rates (swaps)
    • Trailing stop
    • Pending orders
    • One-click trading
    • Mobile trading
    • Automated trading
  • STP Account
  • Advanced ECN (FXOpen UK) Account
    • Hedging
    • Overnight interest rates (swaps)
    • Trailing stop
    • Pending orders
    • One-click trading
    • Mobile trading
    • Automated trading
  • STP (FXOpen UK) Account
    • Hedging
    • Trailing stop
    • Pending orders
    • One-click trading
    • Mobile trading
    • Automated trading

FxOpen Review and Rating

FxOpen is a reputable forex broker with strong regulation. They have more than 13 years of experience on the forex market and offer cryptocurrency trading. Most noteworthy, FXOpen offers numerous account types, low minimum deposits, and a respectable range of forex pairs and CFDs.

Support
40%
Platform
90%
Bonus
80%
Commission
70%
Leverage
80%

Pros

  • Affordable account opening
  • Strong Regulation
  • Localized telephone support
  • MT4 and MT5 Available
  • Social Trading Available
  • Low Spreads for ECN account

Cons

  • High Withdrawal Fees
  • Lack of Educational Materials
  • No localized telephone for Asian traders
  • Limited customer support
7.2

Average Score

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3 thoughts on “FXOpen – Forex Broker review”

  1. Deciding on choosing the right broker is challenging and time consuming. It takes a wise investor especially someone who is new and want to embark in this exciting trading journey to listen to those who have gone far before him. I did so that is why I am emphasizing this. FXOpen is among the best brokers all over the world with low spreads on major currencies and also enjoyable promotions that can help in the growth of your investment account.

  2. I Opened a STP account in FxOpen and start to trade with their no deposit bonus of $10, after one week I made a profit of $27 and I successfully withdraw my profit, I received the money in my skrill account on the same day of my withdrawal request.
    FXOpen is genuine.

  3. I just wish FXopen has their own copy trading system like instaforex’s mt5.com and easier sign up process to link up with Zulutrade.

    Overall despite trying other brokers, i always felt more comfortable recommending people to FXopen. Tons of deposit and withdrawal methods and clear terms of withdrawal.

    Jan 3, 2017 – 5 Stars I have tried many brokers and i think FXOpen is actually okay. One of the best around. With many payment processing options for deposit and withdrawal, reasonable support.

    Look at my profile, not paid to do this review. Couldnt help to see all the complaints which i definitely pretty sure that there is a reason why those things happen.

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