Everything About FXOpen Broker

I never had a problem I wasn't able to quickly resolve. Execution is fast, spreads are tight and overall it is my favorite broker.

This company offers a wide range of trading options and has a diverse of accounts and contracts, including STP accounts and ECN accounts. They provide ample opportunities for trading various currency pairs, including major and secondary pairs. Additionally, they support the trading of digital currencies, and their services are available throughout the week, allowing for flexible trading of digital assets. One standout aspect of this company is its remarkably low spreads. Whether you opt for an STP or ECN account, the spreads are incredibly tight. The ECN account boasts almost zero spreads in certain currency pairs, with spreads typically not exceeding four points and sometimes even just one or two points. The STP account, while slightly wider, still offers competitive spreads starting from 10 points and going up to 24 points, making it suitable for trading pairs like the Japanese yen/US dollar. The company prides itself on providing these favorable trading conditions across the board.

The company stands out for its tight spreads, user-friendly trading experience, and the availability of multiple platforms for trading, including MetaTrader 4, MetaTrader 5, and their proprietary platform. Withdrawals and deposits are hassle-free, with a wide range of methods available. Notable options include Skrill, WebMoney, and Perfect Money, along with the company's own documentation process. Additionally, users can conveniently withdraw funds via credit card or bank transfer, further expanding the withdrawal and deposit options offered by the company. While the company has numerous strengths, it is important to consider some potential disadvantages as well.

Japanese candlesticks' closing and opening timings may vary across different time frames, but the price movement remains consistent with other companies in terms of market dynamics. Regarding the spread, I have observed that it is significantly narrow across various currency pairs, which is advantageous for this company. In the past, the company faced a poor reputation and encountered numerous issues. However, they have successfully addressed and resolved those problems, resulting in a substantial improvement. The company has made positive changes to its policies, and one notable improvement is the reduction in lot sizes. This adjustment accommodates traders of all levels and preferences.

Instances of slippage are infrequent with this company. Occasional servers can occur, but this is a common occurrence across various brokerage firms. However, the company's IT team promptly addresses and resolves any reported technical issues. In the event of a poor fill, the refund process is expedited, ensuring a swift resolution. Additionally, the customer support team is highly responsive, providing fast and efficient assistance.

After trading with this company for approximately two years, I would like to provide an impartial evaluation of their key strengths and weaknesses. One of the standout advantages of this company is their ability to offer competitive and transparent prices with low spreads. For instance, when trading the USD/JPY pair, the spread is often as low as 14 points, and sometimes even lower. Similarly, the active stock market presents an opportunity to trade the USD/CAD pair with a spread of only 16 points, while the EUR/USD pair boasts an impressive spread of just 13 points. When it comes to trading gold against the USD, the spread typically ranges around 20 points, and occasionally slightly higher. I also had the opportunity to experience trading during risky periods, particularly during the Christmas holidays in December and January. It is widely known that many traders prefer to avoid trading during this time due to the high risk and market volatility in these two months. Overall, this company demonstrates strengths in offering competitive prices and accommodating trading conditions, even during challenging market periods. However, it is important to consider individual risk tolerance and market fluctuations when trading during such high-risk periods.

I recently deposited $50.00 through Skrill, but I was surprised to see that my account hasn't been credited yet. In my past experience with other forex firms, deposits made through Skrill were immediate. Today, I had to email FXOpen and attach the Skrill remittance advice to inform them about the issue. It's been quite troublesome. Another concern I have is related to the firm's leverage policy. From what I know, the leverage for retail traders is only 1:30, but for big clients, it's 1:500. This seems backward to me. I think it should be the opposite. Retail traders have limited capital, like my $200.00, so they should have at least 1:100 leverage. On the other hand, big clients who have significant volumes should be limited to 1:30 leverage to manage the higher risks involved. It's important for the company to carefully consider what's wrong with this policy and reassess the risk levels accordingly.

This is an ECN Forex broker so i can trade with the Inter Bank markets. My Trading Experience with this Broker is more than 6 YearsI am trading for 6 years and 2 months with this broker.

FXOpen is a credible Broker as i am trading with them since more than 5 years and many of my trades were with good amount of profits. Spreads have been the lowest in the ECN Tick Trader trading account. They process all my withdrawals very Fast.