FXOpen Review

Overall, FXOpen Review can be summarised as a trustworthy and well-regarded entity within the online financial trading arena. They have a global presence in crucial financial hubs like Australia and the United Kingdom. It has a trust score of 89 out of 99.

🛡️Regulated and trusted by the FCA and CySEC.
🛡️2608 new traders chose this broker in the last 90 days.
🛡️Available for global Traders.

Overview

FXOpen is a global forex and CFD broker established in 2005, known for its trader-centric approach, competitive pricing, and advanced trading technology. Operating on a true ECN (Electronic Communication Network) model, FXOpen connects traders directly to the interbank market, ensuring fast execution and tight spreads from 0.0 pips. With access to over 600 markets, including forex, commodities, indices, and cryptocurrencies, FXOpen offers traders a robust, flexible, and transparent environment to grow their trading success.

Frequently Asked Questions

What leverage can I trade with?

FXOpen offers leverage of up to 1:500, allowing traders to amplify their strategies.

How do I reset my PIN or password?

You can reset your PIN or password through the FXOpen client portal or by contacting customer support.

What currency can I have trading accounts in?

FXOpen offers trading accounts in a variety of currencies, including USD, EUR, and GBP, among others.

How do I log in to TradingView to trade with FXOpen?

To log into TradingView with FXOpen, connect your FXOpen account via the TradingView platform, using your FXOpen credentials.

Our Insights

FXOpen is a reliable and experienced broker offering a trader-focused platform with low spreads, high leverage, and advanced ECN technology. With access to over 600 markets and a variety of account types, including PAMM for copy trading and SWAP-free accounts for Islamic traders, FXOpen delivers a seamless, transparent, and cost-effective trading experience.

Detailed Summary

Frequently Asked Questions

How do I fund my account?

You can fund your FXOpen account through various payment methods, including bank transfers, credit/debit cards, and popular e-wallets such as Skrill and Neteller.

Where can I download a trading platform?

You can download FXOpen’s supported trading platforms (MT4, MT5, TradingView, and TickTrader) directly from the FXOpen website or their respective app stores for mobile devices.

How can I change my Main Account currency?

To change your main account currency, you will need to contact FXOpen’s customer support team for assistance, as this can’t be done directly from the account settings.

How can I log in to a trading platform on my phone?

To log into FXOpen’s trading platforms on your phone, download the mobile app from your device’s app store, and enter your account login credentials.

Our Insights

FXOpen provides a robust trading environment with its true ECN model, low-cost options, and fast execution. Its wide range of markets, flexible account options, and advanced technology make it a strong choice for both novice and seasoned traders looking for an efficient, transparent, and competitive broker.

Safety and Security

FXOpen prioritizes the safety and security of its clients, employing industry-standard measures to protect both financial and personal information. With over 15 years of experience in the trading industry, FXOpen operates under strict regulations and implements robust security protocols to ensure a safe and transparent trading environment.

Client funds are protected through secure payment methods and segregation of accounts, while the company is also a member of The Financial Commission, offering an additional layer of security for traders.

Frequently Asked Questions

How does FXOpen ensure the safety of my funds?

FXOpen ensures the safety of client funds by keeping them in segregated accounts with top-tier banks. Additionally, the broker complies with regulatory standards to protect your investments.

Is my personal information safe with FXOpen?

Yes, FXOpen uses advanced encryption technology and follows strict data protection protocols to ensure that your personal information remains secure.

Does FXOpen use any security measures for account access?

FXOpen employs two-factor authentication (2FA) for account access, adding an extra layer of protection against unauthorized access.

Is FXOpen regulated?

Yes, FXOpen is regulated in multiple jurisdictions and is a member of The Financial Commission, which provides an added layer of dispute resolution and protection for clients.

Our Insights

FXOpen places a strong emphasis on the safety and security of its clients. With secure fund handling, strict regulatory compliance, and cutting-edge encryption for personal information, FXOpen offers traders peace of mind. These measures, combined with its membership in The Financial Commission, make FXOpen a trustworthy and secure choice for forex and CFD trading.

Bonus Offers and Promotions

FXOpen provides a thrilling opportunity for traders to enhance their trading experience through various bonus offers and promotions. One of the most exciting offers is the ForexCup Trading Championship, which allows traders to compete globally for significant prizes and bonuses.

With a rich history of forex competitions and over $200,000 in prize money awarded since 2015, FXOpen’s contests offer both beginners and seasoned traders the chance to showcase their skills, win prizes, and elevate their trading careers.

Frequently Asked Questions

What is the ForexCup Trading Championship?

The ForexCup Trading Championship is an annual forex competition where traders compete for prestigious titles, trophies, and cash prizes. Participants trade a variety of markets, including spot FX, indices, and commodities, with the chance to win significant bonuses.

How do I participate in the ForexCup Trading Championship?

To participate, you must have an FXOpen ECN or PAMM ECN (Master) Account and make a minimum deposit of $5,000. Once registered, you can compete in the championship, which runs from January 1st to December 31st each year.

Are there any other promotional offers available?

FXOpen frequently offers additional promotions, including trading contests like CryptoMania and bonuses for new and existing clients. These promotions are often announced on the FXOpen website.

How can I claim bonuses from FXOpen?

Bonuses are typically awarded as part of specific promotions, trading contests, or as a welcome offer for new clients. You can find details on how to claim these bonuses by checking the promotions section on the FXOpen website.

Our Insights

FXOpen’s bonus offers and promotions, especially the ForexCup Trading Championship, provide an exciting and rewarding way for traders to test their skills and earn prizes. With a rich history of forex competitions and substantial prize pools, FXOpen makes it easy for traders to join and compete. These promotions offer great incentives to boost your trading experience and take your skills to the next level.

Minimum Deposit and Account Types

FXOpen offers a range of trading accounts designed to cater to both retail and professional traders. The most popular option is the ECN trading account, which provides direct market access, no dealing desk interference, and competitive pricing with spreads starting from 0.0 pips. With a minimum deposit of just $100 (or its equivalent in another currency), FXOpen’s ECN account offers a wide range of instruments, including forex, global indices, stocks, commodities, and cryptocurrency CFDs.

This account type is ideal for traders seeking cost-effective, high-volume trading with tight spreads and flexible leverage.

Frequently Asked Questions

What is the minimum deposit required to open an FXOpen ECN account?

The minimum deposit required to open an ECN account with FXOpen is $100 or its equivalent in another currency.

What types of accounts does FXOpen offer?

FXOpen primarily offers ECN accounts, which provide direct access to the interbank market. Traders can use these accounts to trade a wide range of assets, including forex, commodities, indices, stocks, and cryptocurrency CFDs.

What are the benefits of an FXOpen ECN account?

An ECN account offers raw pricing from banks and liquidity providers, no requotes, tight spreads from 0.0 pips, and low commissions starting from $1.50 per lot. It is ideal for high-volume trading, scalping, and utilizing advanced strategies like Expert Advisors (EAs).

Can I trade cryptocurrencies with FXOpen accounts?

Yes, FXOpen offers cryptocurrency CFDs as part of their ECN account, allowing you to trade popular cryptocurrencies 24/7.

Our Insights

FXOpen’s ECN accounts are an excellent choice for traders looking for low-cost trading with direct market access and tight spreads. The minimum deposit requirement of just $100 makes it accessible for most traders, while the flexibility in trading various assets, including cryptocurrencies, enhances its appeal.

With high leverage, fast execution, and no dealing desk intervention, FXOpen’s ECN account offers an ideal platform for both beginners and seasoned traders.

Trading Platforms and Tools

FXOpen offers a range of advanced and intuitive trading platforms designed to meet the needs of both retail and professional traders. Whether you are a beginner or an experienced trader, FXOpen provides powerful platforms such as the award-winning MetaTrader 4 (MT4), the more advanced MetaTrader 5 (MT5), the highly customizable TickTrader platform, or the advanced charting tools offered by TradingView.

Each platform is equipped with a variety of features like automated trading, in-depth charting, and access to multiple asset classes, giving traders the flexibility and control they need to execute complex strategies.

Frequently Asked Questions

What trading platforms are available at FXOpen?

FXOpen offers several platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), TickTrader, and TradingView. Each platform provides unique features to cater to different trading styles and preferences.

What are the main features of TickTrader?

TickTrader is a next-gen multi-asset platform offering unrivaled execution, advanced charting tools, back-testing capabilities, and order types such as OCO, OTA, and iceberg orders. It is available as a web platform, desktop app, and mobile app.

Can I use automated trading with FXOpen platforms?

Yes, automated trading is supported on FXOpen platforms, including MT4, MT5, and TickTrader. MT4 and MT5 support Expert Advisors (EAs), while TickTrader offers various advanced order types for automation.

Does FXOpen provide access to advanced charting and technical analysis tools?

Yes, FXOpen platforms, including MT4, MT5, and TradingView, provide comprehensive charting and technical analysis tools. Features include customizable charting, indicators, and access to economic calendars, making it easier to analyze the markets.

Our Insights

FXOpen offers a robust selection of trading platforms that cater to the diverse needs of traders, from beginners to professionals. Whether you prefer the user-friendly MT4, the advanced capabilities of MT5, the innovative features of TickTrader, or the powerful charting tools of TradingView, FXOpen ensures that you have the tools to execute your strategies efficiently.

With highly customizable options, automated trading support, and advanced market analysis tools, FXOpen provides everything needed for a professional trading experience.

Markets Available for Trade

FXOpen offers an extensive range of markets for traders, including forex, indices, commodities, shares, and cryptocurrencies. As a true ECN broker, FXOpen connects traders to deep liquidity from major banks and other liquidity providers, offering competitive spreads starting from 0.0 pips.

Whether you are interested in trading major currency pairs, global indices, precious metals, energy, stocks, or digital currencies, FXOpen provides fast execution and flexible contract sizes to suit traders of all types.

Frequently Asked Questions

What types of markets can I trade with FXOpen?

FXOpen offers trading in forex, indices, commodities, shares, and cryptocurrencies. You can trade over 50 FX markets, global indices, metals, energy, major US and Hong Kong shares, and more than 40 cryptocurrency CFDs.

Are there competitive spreads for all markets?

Yes, FXOpen offers competitive spreads starting from 0.0 pips for forex, tight spreads on indices, and low commissions on shares and commodities. This ensures low-cost trading across all markets.

Can I trade cryptocurrencies on FXOpen?

Yes, FXOpen provides access to over 40 cryptocurrency CFD markets, which can be traded 24/7. Cryptos can be traded on MT4, MT5, and TickTrader platforms with deep liquidity and tight spreads.

What are the leverage options for different markets?

Leverage varies across markets: up to 1:500 for forex, 1:100 for global indices, 1:50 for commodities, 1:5 for US and HK shares, and 1:3 for cryptocurrencies.

Our Insights

FXOpen offers a wide range of markets with competitive pricing and robust trading conditions. Whether you are interested in forex, indices, shares, commodities, or cryptocurrencies, FXOpen provides access to deep liquidity and tight spreads, all supported by advanced ECN technology.

Fees, Spreads, and, Commissions

FXOpen operates as an ECN broker, offering competitive pricing with low commissions and spreads starting from 0.0 pips. The commission structure is based on account balance, trading volume, and the platform used. Fees apply differently to various assets such as forex, indices, commodities, shares, and cryptocurrencies. High-volume traders can benefit from discounted commissions based on their traded volume.

FXOpen also provides swap-free Islamic accounts, where an additional commission replaces swap fees for overnight positions.

Frequently Asked Questions

How are commissions structured on an ECN account at FXOpen?

Commissions vary depending on the account balance. For example, accounts with balances below $1,000 incur a commission of $3.50 per 1 standard lot, while balances over $250,000 pay a reduced commission of $1.50 per lot. Volume-based discounts are available for high-volume traders.

Are there commissions for trading indices, shares, and commodities?

FXOpen offers commission-free trading on most indices (e.g., UK 100, Wall Street 30) and shares CFDs (US and HK shares). However, for commodity CFDs such as XTIUSD (Crude Oil) and XBRUSD (Brent), the commission is a small percentage, decreasing with higher account balances.

What are the commission rates for cryptocurrency CFD trading?

Commission rates for cryptocurrencies start at 0.25% for accounts with balances below $1,000 and decrease to as low as 0.10% for accounts over $250,000. These rates apply per side and vary based on platform choice (MT4/MT5 or TickTrader).

Can I trade with an Islamic/Swap-free account?

Yes, FXOpen offers swap-free Islamic accounts. Instead of swap fees, an additional commission is charged on overnight positions, which is equal to the applicable swap. To convert your account to Islamic, you can email FXOpen’s support team.

Our Insights

FXOpen’s fee structure is competitive, especially for those trading with higher volumes or balances, thanks to discounts on commissions. The low spreads starting from 0.0 pips ensure cost-effective trading, and the swap-free accounts cater to Muslim traders who prefer to avoid swaps due to religious reasons.

Deposit and Withdrawals

FXOpen offers a variety of payment methods for both deposits and withdrawals, ensuring convenience and flexibility for clients. With options like FasaPay, Volet, and online banking, clients can fund their accounts instantly or withdraw their funds efficiently.

Deposit methods are generally free, with some exceptions, while withdrawal options include minimal fees and fast processing times, with most transactions completed within one business day.

Frequently Asked Questions

What deposit methods are available at FXOpen?

FXOpen supports several deposit methods, including FasaPay, Volet, and online banking. Each method accepts different currencies, such as USD, EUR, GBP, IDR, THB, and VND. Fees vary, with most methods being free or having small fees, depending on the payment type.

Are there any fees for making a deposit?

Most deposit methods, including FasaPay and Volet, are either free or carry a minimal fee. For example, FasaPay deposits are free, while Volet deposits incur a fee of 0.5%. Online banking deposits, depending on the currency, may incur fees of around 2-3%.

How can I withdraw funds from my FXOpen account?

Withdrawals can be made using methods such as FasaPay, Volet, and online banking. Depending on the method, FXOpen charges withdrawal fees ranging from 0.5% to 2.5%. Minimum withdrawal amounts vary depending on the chosen method and currency.

How long does it take to process withdrawals?

Withdrawal requests submitted before noon (GMT) are processed the same business day. Requests made after noon (GMT) or over the weekend will be processed the next business day. However, withdrawal times may be longer in unforeseen circumstances.

Our Insights

FXOpen provides a broad selection of payment methods for both deposits and withdrawals, ensuring flexibility and convenience for its clients. With low or no fees on most deposit methods and competitive withdrawal fees, FXOpen offers efficient transaction processing.

The withdrawal time is reasonable, with most requests completed on the same business day, and clients should have no problem accessing their funds promptly.

Customer Reviews

🥇 Great Trading Experience.

I’ve been trading with FXOpen for several months, and overall, I’m impressed. The platform is user-friendly, and the customer support is always responsive. The fast deposits and withdrawals make trading smooth, and I’ve had no issues with my account. Highly recommended! – Gary

🥈 Reliable and Smooth Service.

FXOpen has been a solid choice for my trading needs. The platform runs smoothly, and the variety of payment methods makes it easy to fund and withdraw from my account. The support team is excellent, and I feel confident trading here every day. – Emily

🥉 Excellent All-Round Service.

I’ve had a great experience with FXOpen so far. The trading conditions are competitive, and the platforms are top-notch. The range of deposit and withdrawal options is very convenient, and everything is processed quickly. It’s been a very reliable and satisfying service. – June

Pros and Cons

References:

• Why FXOpen?
• Trading Accounts
• Forex Contests

In Conclusion

FXOpen stands out as a reliable and innovative broker with over 15 years of experience in the financial markets. By focusing on the needs of traders, offering a true ECN model, and utilizing cutting-edge technology, FXOpen empowers its clients to trade confidently and efficiently. Whether you’re a beginner or an experienced trader, FXOpen’s suite of features and services ensures a smooth and profitable trading journey.

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