Apart from ensuring traders' safety and security, FXOpen offers a mobile app for easy trading that can be easily accessed anywhere directly from your mobile screen.
FXOpen is a broker for foreign exchange, but you can also trade CFDs, indices, cryptocurrencies, and commodities on its platform. Data shows that the platform is suitable for professionals and novices in online trading. As a result, the company promotes itself as offering "full confidence" trading.
The broker has promised to keep growing, and it does so by adding new markets and services all the time. The broker is a good partner for more than a million customers from close to a hundred countries. Also, the broker's services, technologies, and business environment have been praised many times for their high quality.
In this article, we'd specifically discuss on how FXOpen provides a mobile app for trading on the go. But before getting into that, let's check this broker's safety first.
Is FXOpen Legit?
FXOpen is a legitimate company subject to a great deal of regulation. The broker has the proper license to do business in all of the places where it does business. Companies affiliated with FXOpen are based in Australia, Saint Kitts, Nevis, Cyprus, and the United Kingdom. They also have representatives located in a variety of additional countries.
FXOpen started its operation as an online trading provider for retail clients since 2005. The company was founded by a group of traders with a mission to provide services that refer to the interests of traders. FXOpen claimed to be one of the firsts to offer ECN trading via MetaTrader 4 (MT4). With FXOpen's unique proprietary price aggregating technology, their clients can benefit from the industry's most competitive spreads (from 0 pips) and low trading commissions.
In 2006, FXOpen also became the first broker to offer a micro account and a swap-free account. After that, they continue to be the pioneers of several new and high-tech services, including the first Crypto account that can provide trading facilities on 24 Cryptocurrency pairs such as Bitcoin, Litecoin, and Ethereum.
Furthermore, the company provides One Click Trading and Level 2 MT4 plug-ins, enabling traders to place trades with just one click of the mouse. Traders do not need to worry about trading security at FXOpen. They have registered in Nevis, the UK FCA, and ASIC Australia.
A variety of trading accounts are provided such as STP, Micro, ECN, and free unlimited demo accounts. The minimum deposit for each account depends on the account type; USD1 in Micro Account, USD10 in STP and Crypto Accounts, and USD100 in ECN Accounts. As for leverage, FXOpen offers up to 1:3 (for Crypto Accounts), and up to 1:500 (for Micro, STP, and ECN Accounts).
Besides, traders can enhance their trading capabilities with Myfxbook and Zulutrade automated trading systems. Both of these services allow anyone to copy the transactions of experienced traders. Thus, traders can replicate the results of professional traders' strategies.
The FXOpen PAMM Service allows copying trades from a Master account to one or more than one Follower account and automates the distribution of profits and losses. The Master operates personal capital through a PAMM account, and his trading strategy is replicated to the Follower's capital. The owner of the Follower account can view and analyze the performance of the PAMM account with the help of advanced analytics. There are 3 PAMM accounts in FXOpen, namely STP, ECN, and Crypto PAMM.
On ECN accounts, traders will get direct price quotes from leading liquidity providers, including Dresdner, SG Paris, Standard Chartered, Barclays Capital, Bank of America, CRNX, JP Morgan, Morgan Stanley, Deutsche Bank AG, RBS, CITI, and UBS. This is one of the reasons why FXOpen's ECN account has become a trader favorite.
After seeing the various advantages offered by FXOpen, traders can easily register an account, simply by filling out the form in the registration menu on the FXOpen website. Traders will be asked to verify documents in advance if the trader will make a deposit or withdrawal of funds. Based on traders' experience and information since FXOpen was founded, there have not been any major complaints about payments (depositing or withdrawing funds) from clients.
Once registered with the FXOpen broker, traders also have the opportunity to get other benefits. One example is the FXOpen cashback program for the first 90 days from registration as a new client. The minimum cashback is USD5 and the maximum is USD1,000.
Furthermore, free VPS is available for ECN, STP, and Crypto account holders. Traders can use FXOpen VPS without any fees for 1 month if they can maintain equity of USD5,000 at the end of the month or trade with a trading volume of USD10,000,000 per month. The advantages of VPS on FXOpen are excellent accessibility, flexibility, and speed.
Trading on FXOpen is made easier because traders can add insight into trading by entering contests. FXOpen Broker offers weekly and monthly trading contests on demo accounts through the ForexCup.com site. Traders can join competitions that are free of charge to hone their skills. If a trader wants a bigger challenge, there is also a trading contest on a real account.
The company also offers Forex partnership programs to traders, Forex brokers, and website owners who publish information about fiat and crypto-currency trading. There are 3 types of partnership levels, including Forex IB (Forex Agent) that attracts new clients to FXOpen using a referral (affiliate) link, Forex Rebate, and individual partnership conditions.
In Conclusion, FXOpen is a well-rounded forex brokerage for traders with a desire to try various trading instruments, a trading environment in ECN account, low minimum deposits, the best cryptocurrency trading condition, as well as interesting trading features like PAMM and demo contests.
For financial security, FXOpen applies a fully segregated account to separate clients' money from FXOpen's own funds. Account fo the clients' funds are held at Barclays Bank Plc or Lloyds Bank Plc in London. The broker also provides additional protection to all retail clients with insurance up to £85,000 as required by the FSCS for compensation schemes.
Is FXOpen Mobile App Good?
To begin, the FXOpen app is really simple to use. A few taps are all it takes to move around and use the app's various functions, making it a good fit for virtually every trader. You can download it from either Google Play Store if you have an Android device or the App Store if your gadget operates on iOS.
The ease with which the market can be tracked is another benefit of this app. You may take advantage of the layout to check in on your open positions and past orders in separate tabs when you're on the go.
In addition, users can customize their default settings for the app, such as the number of units traded, risks and profitability criteria for pending orders, price boundaries in percentages, as well as favorite financial products.
For your information, FXOpen's scope is widely considered among the most sophisticated in the business. This is because it gives clients access to a wide range of products in thousands of different financial multi-asset platform categories with flexible trading hours. There are over 600 distinct financial instruments, some of which include cryptocurrencies, indices, shares commodities, and forex.
Marketing Analysis
FXOpen platform has over fifty indicators and visual aids. You may quickly analyze technical data with them. There is no way to underestimate how powerful the reporting tools are. The Analyst View, Market Buzz, and Technical Insights tools, among others, can help you find the specific pieces of information you need.
You can also look at the headlines, test your strategy, and look through a quotes archive. No matter how much you know or how experienced you are, you have access to all the tools you need to do a thorough market study.
Charts and Orders
When creating reports essential for the marketing research element of a trader's job, charts play an important role. Because FXOpen is aware of this fact, the application that they have developed is supported by diverse graphical elements that may be used for doing technical analysis.
On top of that, there are extra chart packages that can be used simply.
Another exciting element of this application is that you can handle all three orders: stop, limit, and market. Only a few people have the skills to use all of these options. If you have the skills, FXOpen gives you the tools to use them.
You can also process orders placed through automated trading (EA), and there's an option called one-click trading that you may employ to execute transactions quickly.
Deposits and Withdrawals
We found that managing money and putting money into accounts at FXOpen is quick and easy, which is excellent and very important for managing your account. FXOpen gives its customers a wide variety of funding options, such as credit cards, bank transfers, and a few different kinds of e-wallets, so that they can make speedy deposits and withdraw their money quickly.
Customer Support
Based on what we found out, FXOpen is still committed to its goal of giving customers professional solutions in analytics and trading, as well as excellent customer service. The support staff is always there for any questions that you might have. You can access the service around the clock using phone lines and the online chat feature.
Final Words
As this FXOpen review comes to a close, we're happy to recommend this broker to you as one that facilitates entry into the forex market, with lower minimum deposits and trading requirements, among a plethora of other appealing features. The broker maintains regulatory control of its activities, which safeguards the legal rights of traders. You can use the mobile app as the platform supports a lot of more flexible and efficient advantages where you can analyze the market, execute orders, and manage your FXOpen account all on a mobile screen.
FXOpen is a forex brokerage that has been offering services since 2005. It is currently one of the most successful forex brokers in the world. Since the very start, FXOpen aims to make forex trading more professional, easy to access, and secure.
48 Comments
Jan 23 2023
This is the numerous trading tools and numerous features that come with the FXOpen mobile app. I read everything in this article and found out the mobile app at FXOpen actually very advance and offer many things to make trading become simpler. I have some question and comparison; First I found this term for one click trading. So, what is this? Can I increase my transaction speed? And if I use another trading platform such as MetaTrader, can I use this feature as well?
Also, what can I say about this mobile app is amazing! It really made our trading absolutely easy. But compared to MetaTrader, which one would you choose anyway?
Jan 23 2023
Miguel: One-click trading is another option for opening trades. Usually when you open a trade you will find that you need to set up some tools before placing an order. Like the picture below:
What do you think about these settings? With all the tools out there, I think there will be times when you say you're not getting the price you want because the price keeps fluctuating. Sometimes these settings are annoying, right?
To avoid that, One Click Trading is introduced. It is a very useful tool as it eliminates the need to set it up as such. Simply click the "Buy/Sell" button and your order will be automatically bought or sold. By the way, SL and TP can be set after opening an order.
Read at here for more information about one-click trading: All you need to know about one-click trading
Jan 23 2023
Miguel: Hey, if you're asking if one-click trading is available on Metatrader, yes. Basically, all mobile broker apps follow Metatrader's functionality. In MetaTrader, just press Alt+T to enable One-Click Trading or right-click and One-Click Trading.
If I was asked which trading platform I prefer to use, as an old forex player I would of course choose MetaTrader, especially MT5. There are many forex traders using MetaTrader 4.
But for beginners like you who want to trade easily, you can choose FXOpen Mobile Trade if you are its client.
Jan 23 2023
Wow, I am interested in trading on FXOpen now. I have some questions, if you want to trade, you just need to deposit $1, right? But if I only want to open a demo account, can I use this mobile app too? I have seen, this mobile app offers a lot of possibilities. For me, those who only learn Metatrader will not be confused as the view and design of this mobile app is very good and has a very simple view than Metatrader.
And really, I just want to try the app, but if I don't need to open a live account with FXOpen. Does anyone have an answer Thanks a lot!
Jan 23 2023
Joshua: Yes, you can only open a demo account. Alternatively, the mobile app itself can be an app that allows you to set up your account include deposit and withdraw or act as your personal space. So, if you want to open a demo or live account, you don't need to visit their website and register. Just use the app or the FXOpen mobile app trader which you can download from the Google Playstore or iOS store
Just follow the instructions and you should be able to use most of the features except for the tools you need to open a live market such as:
Autochartist.
Also, for the minimum deposit at FX Open, all account types require only $1. So it is very good for beginners and low capital traders.
For the details of the account type that you can choose, please read the review of FXOpen at here : FX Open Review
Jan 25 2023
hi, newbie traders here. I was looking for a beginner friendly broker and came across this article about FXopen. Let me ask a few things:
1. if I deposit via the mobile app, how long will the process take and what data is needed?
2. Can the entire deposit and withdrawal process be carried out 100% via the mobile application?
3. What is the best deposit method if I'm more active on my cellphone than a PC?
Jan 12 2021
Dave Alonso: Does the minimum amount really $1 with no hidden fees?. That is affordable!!!
But is there any kind of other benefits for new traders here? Perhaps something like education features or something. It would be nice to find a good broker that actually caters to new trading with 0 knowledge like me.
Feb 16 2023
Ajax Collins: Is the $1 minimum deposit posibble?
I think it depends on the payment method you choose. When depositing into a bank, you cannot send only $1. On the other hand, it is possible to transfer $1 using electronic payments.
Therefore, you should check the minimum transaction for your payment option. Also, check the fees that are included when depositing. There are several payment options you can choose from at FXOpen.
- Bank transfer
- electronic wallet
- Instant local bank
- crypto payment
- debit and credit card
Each payment has a fee and a minimum deposit amount. However, if you choose an e-wallet, the minimum transaction amount required is usually just $1.
learn about deposit and withdraw : Guide To FXOpen Deposit and Withdrawal
And about other feature that may offered by FXOpen, you can see the review in here : FXOpen Review
Feb 16 2023
Francesc: Let me answer :
1. if I deposit via the mobile app, how long will the process take and what data is needed?
Answer : The process between the mobile app and the website is 100% the same, but the mobile app makes it easier as you can upload documents more easily. The required documents are proof of identity, proof of address and bank account details. You can read more information here: How to Open An Account in FXOpen
2. Can the entire deposit and withdrawal process be carried out 100% via the mobile application?
Answer : yes! You can also open a new account there. FXOpen mobile app is a multifunctional app
3. What is the best deposit method if I'm more active on my cellphone than a PC?
I don't think the deposit method affects the trading location. If you simply want to transfer money over the phone, all the methods you can access over the phone are great. Read here to get the list of the methods : Guide to FXOpen Deposit and Withdrawal
Feb 16 2023
In my mind now is thinking about that Metatrader has been removed from the iOS store, I think it's time for most traders, especially Apple users, to move from Metatrader to another trading platform. And the FXOpen Mobile app seems to be a very good mobile app to actually trade, basically read the article. There are many indicators in it, the amount of indicator tools is over 1200++ There are cases. I don't know if it's true, but for a mobile trading app, this was a pretty good app.
On the other hand, do you have any tips and tricks for mobile trading as the charts are very small and the analytical charts are more difficult?
Feb 16 2023
Leo Wanda: First of all, mobile apps really have their pros and cons. I mean traders may have a different opinion about the mobile trading app. You can read an article about the advantages and disadvantages, in general. Read here : Pro and Cons Mobile Trading For Beginner.
No tips and tricks, but I have one. You can download software called "Bluestacks". This is legitimate Android software, it can mimic an Android phone, allowing your PC to run many mobile apps on it. And you just need to download the FXMobile app here.
And since it works on PC, the chart can get bigger and bigger. Here are tips for trading on PC if in case the metatrader is not available and you are unable to adapt to the mobile chart
Feb 16 2023
About the deposits and withdrawals that the author said can be really fast, especially for credit card, bank transfer and electronic payment withdrawals. As I and my experience know, many withdrawal operations can be slower than expected but the deposit operation can be faster than the light itself. Very disappointed with this policy. Brokers need faster money but transfer I think it's too slow.
By fees, I mean withdrawal fees charged by the broker. Is it paid or is it free for the merchant? Need an answer ASAP, thanks!
Feb 16 2023
Jayce Lee: If you mean processes related to bank accounts, dude. It is better to wait for a while. But if the average fastest payout doesn't include a bank account. Electronic payment is available. Of course, we recommend using electronic payment as it has less fees, faster processing, and faster delivery to your e-wallet.
So just open an account and withdraw using electronic payments, it should be the same electronic payment service you used to deposit.
If FXOpen offers local bank transfers in your area, you can use it as it is the fastest and free!
Mar 29 2023
Actually, I'm still new to the world of trading, and yes, I rarely hear about brokers that provide trading instruments and platforms. You must be familiar with FBS and OctaFx which always appear in several advertisements on chrome and YouTube. As for the FXOpen broker, to be honest I have never heard of this broker.
And yes, I just found out in this article, and yes, what is being discussed here is regarding the trading services offered by this broker. As already explained, this broker has only been established since 2003, but I can't say for sure whether this broker is good and safe. I ask friends, is the FXOpen broker safe for my trading and funds? Is my personal data also safe here? If anyone knows, could you please explain...
Mar 29 2023
Sweety:
FXOpen Broker Company was founded in Cairo in 2003. It started trading services in 2005 and has since become one of the leading players in the forex industry. The company has provided a high level of service through optimal trading conditions, innovative technologies, and various financial services. FXOpen was the first broker to offer its clients a unique opportunity to trade via an electronic communications network (ECN) based on the MetaTrader 4 terminal. FXOpen is a member of the International Financial Commission and a member of the Federal Council Committee on Budget and Financial Markets.
I started trading at FXOpen about 5 years ago. We started trading currency pairs. I currently work with cryptocurrencies because this broker offers the most optimal conditions. Given the current situation, I think it's safer to deal with cryptocurrencies. Of course, there are no problems with scalping, but in the medium term it is quite normal.... By the way, FXOpen has an easy-to-use interface, perfect for beginners.
Mar 29 2023
Sweety: The FXOpen company was founded as an educational center offering courses in technical analysis and financial markets, but in 2005 it became a brokerage company with the aim of meeting the growing need for fair and transparent trading conditions.
The broker is therefore committed to continuous development while continuing to add additional markets and expand their offering even further. Today, this broker is a trusted partner for more than 1,000,000 customers from around 100 countries, their service and technology, and work environment are known many times.
FXOpen is a regulated broker with low risk, good technology, and platform ion, a very low minimum deposit of only $1, there are good analytical tools and excellent support. FXOpen has regulations in various countries such as:
Having been established for more than 10 years, the FXOpen broker has a good track record and has earned satisfaction levels in various countries. FXOpen has STP and ECN accounts with stable meta trader and web trader platforms, making it suitable for scalping traders, expert advisors, and daily and swing traders.
Mar 29 2023
Coinneach: I also agree with your opinion. Of course yes because FXOpen is an official broker. FXOpen is not a scam, it is a broker that is regulated by top-level authorities such as the FCA and is considered a low-risk broker for trading Forex and CFDs.
FXOpen Markets Limited is a company registered in Nevis, however, since 2013 within the FXOpen Group of Companies, the London-based company – FXOpen UK received a Financial Conduct Authority (FCA) license with registration number 579202.
As the FCA license is among the most respected around the world, the assurance and peace of mind of traders that funds are safe and secure at FXOpen are provided by the various ways and general transparent guidelines of how the broker operatesIn addition, they have a separate account policy in the UK where any money deposited their clients, the funds automatically go into a separate bank account from the broker's bank account to prevent the broker from using their customer's money. plus client funds are protected up to £50,000 by the FSCS. And also the bank account is also the bank chosen by the broker regulator and the broker has chosen to avoid some other things like money laundering.
Mar 29 2023
OK, I know the FXOpen broker is a multi-licensed and regulated company that traders can trust for the safety of their funds. Your money is kept in segregated accounts only at level 1 regulated banks. You can fund or withdraw from your account instantly.
The novice and professional trading community admires this broker for its extensive trading platform, including TickTrader, MT4, and MT5, and highly competitive trading conditions.
However, as a beginner, I seem to have different considerations for a trading broker. besides security, I need a broker that provides trading with a minimal deposit. Understandably, because the funds of a novice trader are limited. besides that, we are hesitant to deposit a lot because of our limited experience. What I want to ask is, Is there a minimum amount to trade at FXOpen?
Mar 29 2023
Raghnaid: FXOpen trading fees or spreads, thanks to its execution technology, you get variable spreads that are determined by your trading account and the instrument you choose. So an STP account is just a spread account with all fees built in.
If you trade through an ECN account, the spreads are floating and start from 0 pips and the trading fee charged as a commission also depends on the trading volume you operate starting from $1.5 per Standard lot.
I have been trading at the Pepperstone broker since July 2021. As long as I have been trading at Pepperstone for more than 1 year, I like the deposit and withdrawal services of this broker the most. One of the things I like about this service is that we can make deposits starting from even the smallest amount. You can make a deposit from as little as $1 USD or a large amount too. So there is no minimum deposit limit for trading. although I recommend a minimum of 100 USD or equivalent for trading so that it is maximized even if you are a beginner. this explanation makes this broker a good choice for beginners and experienced traders.
Mar 29 2023
FXOpen was the first broker to offer its clients a unique opportunity to trade via an electronic communication network (ECN) based on the MetaTrader 4 terminal. Now FXOpen provides a full range of active and passive trading services to over a million clients from 100 countries. FXOpen is a member of the International Financial Commission as well as a member of the Federation Council Committee on Budget and Financial Markets.
I am quite interested in this broker. what attracted me was the minimum deposit which was super duper really low... I couldn't imagine it. with only $ 1 I was able to trade. however I have a few questions regarding this broker. Understandably, because I only have a little experience in trading and I don't know this broker either. question is, Should I verify my account to make a deposit?
Mar 29 2023
Jamesetta: they provide an automatic withdrawal facility with Bitcoin so I can get my funds very quickly. Since I trade using their ECN account, spreads are fixed at the inter-bank rate so trading is also easy and profitable with them. I really like trading in this FXOpen...
I have been in the world of trading for almost 4 years with many brokers that I have tried. In my experience trading at several brokers (including this FX Open broker), of course, it's better before you make a deposit, it's better if the account is verified first. It is better to keep your deposited funds. It is feared that problems will occur during the deposit process, such as being unable to make a deposit or the funds taking too long to enter the account. So it's better to verify first, ok? Not verified.
Mar 29 2023
Kirsteen: Yes, brokers, including FxOpen need to verify your identity. All regulated brokers, not just Pepperstone, need to know their customers or their KYC (Know Your Customer). And this is mandatory because the term is from the regulator who provides certificate regulations to brokers. Everything from your real name, ID, where your loved ones are, money, job, and information about where your family is from.
I believe this is to prevent money laundering. This protects the broker from money laundering. Money laundering can result in penalties for brokers and even revocation of their operating licenses and also to protect Forex entered by money laundering. Therefore, before making a deposit, you must first open a live account and register.
Mar 29 2023
I want to share my experience with all new traders in the world of trading, with my experience in FXOpen , I was a trader from 2011 until now, and I tried many companies to trade, but I found the best now is FXOpen , so I am with they are now, they are an honest company, have many trust licenses in trading, and contact with them is very easy, and they have many options in trading and also many currency pairs, I did not encounter any problem with them till now, so if you are a new trader or even old trader, come and join us for free at FXOpen, you will see the difference with your own eyes,
My advice to every beginner trader First, choose an honest company you will trade with, like FXOpen After that, you can practice trading by opening a free account with no money and then you can start with real money by opening a real account Don't try greed or compensation. Just analyze the market well before trading and after that start trading with FXOpen and enjoy the many discounts offered by the company as well as fun prizes and competitions that continue throughout the year at FXOpen
Mar 29 2023
Harrison: I also want to add your opinion. I have been dealing with them for the last 5 years and gained significant experience trading their way and I see that from a reputable company that respects the customer and maintains that he owns it. One of
the most important feature of this company is trading options and diversity of accounts and contracts they have STP accounts and ECN accounts and they have many currency pairs that can be traded on the major currency pairs and secondary currency pairs can also be through them also trade digital currencies and they work all week i.e. you can trade cryptocurrency anywhere.
I have traded with more than 6 brokers, but in the end, I chose FXOpen because they provide the lowest ECN spreads and also very fast order flow. As a News trader, I need more liquidity from the market and they give me that. The most important thing for every trader is the speed of order execution and they are the best in terms of server response time. I can also use my Expert Advisors with them through the use of a VPS service. Withdrawals made via Bitcoin are very Fast and Automatic.
Mar 29 2023
OK, I know the FXOpen broker is a multi-licensed and regulated company that traders can trust for the safety of their funds. Your money is kept in segregated accounts only at level 1 regulated banks. You can fund or withdraw from your account instantly.
The novice and professional trading community admires this Australian broker for their extensive trading platform, including TickTrader, MT4, and MT5, and highly competitive trading conditions.
However, on the one hand, I am also interested in trading using copy trading services which are quite booming among traders lately. Copy trading is a service that can automatically copy trading positions that have been made by expert traders. the most profitable in my opinion is being able to increase the profit potential because traders can copy strategies that have been proven successful. Allows traders to follow more than one trader at a time, thereby increasing portfolio diversification.
In order to profit from these assets by copy trading, I need a broker that provides this platform. I want to ask here whether FXOpen provides a copy trading platform. I am quite curious about this. please if anyone knows, help explain.
Mar 29 2023
Tristan: Wow, you didn't know that the broker offers 2 popular copy trading platforms at once. as you know, ZuluTrade and Myfxbook are popular copy trading platforms among traders. of course, when a trader is interested in copy trading, traders often choose these 2 options.
only at Fx Open, I found a copy trading platform that offers this good, because rarely do brokers offer these 2 platforms at once. Why do I love copy trading? the only reason is I would rather have a passive income through trading than have to dive into trading myself.
Both provide good copy trading platforms and are often the choice for traders who enjoy copy trading. Previously, I was very impressed with the FXOpen broker that was able to provide these 2 platforms.
Did I use to prefer ZuluTrade in copy trading, why? because of Zulutrade's reputation as an independent and authoritative source of analysts, signals, effective strategies, account statistics, and trader contests.
All the advantages of ZuluTrade also apply to Autotrade tools. and the most important thing is that you can adjust the level of risk and the maximum number of lots opened by the signal and can close the current deal at any time and reject signals from a certain provider.
Copy trading using ZuluTrade allows beginners to copy strategies from more experienced traders, as well as communicate with them. Another advantage is that ZuluTrade has an easy-to-use dashboard and application user interface. It's just that, some parties complained about the customer service provided.
Apr 5 2023
Is this mobile app bootlegged from MT4/5 (cuz it seems alike, but somehow different)? Or it is actually Metatrader-Issued? I prefer mobile apps from metatraders as they're widely popular and highly customizable. I usually trade with EAs and some automated plugins, and I can install all of it easily with metatraders.
Apr 5 2023
Does this mobile app support all available trading instruments on FXopen? Can I trade crypto and CFD (NYSE and GOLD, preferrably). And if it does, can I use custom indicators on this app? I use custom indicators from MT4, it combines MACD, RSI and Stochastics, along with automatically generated trading signals.
Apr 8 2023
@Dani:
FXopen is a popular forex broker that provides mobile applications for trading on-the-go. The FXopen mobile app supports a wide range of trading instruments, including forex, cryptocurrencies, and CFDs such as NYSE and GOLD. So you're most likely going to find all the trading instruments FXopen has to offer on their mobile app
Regarding custom indicators, the FXopen mobile app may not support all custom indicators used in MT4. However, the app provides built-in indicators and technical analysis tools that you can use to analyze the market and make trading decisions.
IMHO, You probably don't really have to import other indicators if you're using mobile apps for day to day regular trading, anyway. The regular indicators will do just fine
If you insist to use custom indicators in the FXopen mobile app, you need to check if the app supports importing external indicators. If it does, you can export your custom indicators from MT4 and import them into the FXopen mobile app.
Finally, if all else fail, you can contact FXopen's customer support for guidance on how to do this.
Overall, FXopen mobile app is a powerful trading tool that allows you to trade various instruments and perform technical analysis for daily basic trading operations.
Apr 16 2023
I have never tried trading with a real account at several online brokers that provide trading such as OctaFx and Pepperstone, but I am very interested in the copy trading services offered by several brokers. and yes I'm interested in this article because I'm choosing the right broker to trade, but I've never heard of the Fx Open broker.
I've looked at the image above the article for the account types I can choose to trade at FXOpen. So I found out that there are several accounts I can choose from STP account to ECN account. I don't know the type of trading account in FXOpen, I mean mini, micro or standard account in FXOpen is not available? Because many brokers will obviously offer such accounts anyway I don't know what is STP and ECN and what is a trading account What are the differences and advantages?
Apr 18 2023
Yes, there is a difference, but the difference is very small. For UK and EU (European Union) traders, you need to make a minimum deposit of 300 USD with a trading position of at least 0.01 lot. This is a standard STP and ECN account. For AU traders, the minimum deposit is $200, but if you choose an ECN account, you will not be able to use scalping and Expert Advisors. The STP account allows a minimum deposit of 10$, scalping and expert advisors. On the other hand, crypto accounts are only allowed for international traders. Also, the trading conditions for international traders are friendlier than those in the UK, EU, and AU.
I think it's because UK and EU regulations are different from AU regulations. In addition, the regulations of these countries are different from the regulations of other countries such as the details of the countries regulated in FXOpen namely China, India, Cyprus, Hong Kong, Japan, and other countries. So about regulation.
Apr 19 2023
You can find the account you need and read more FXOpen reviews on this broker review website. Click the link here. There are 9 account types there but I think as an international trader you can choose 4 account types and the rest can be chosen by Australian, UK or EU traders. One of the accounts is Micro and the other is Crypto and the rest are standard STP and ECN accounts.
As for STP, like any standard account, STP is basically a different type of broker. There are two types of brokers: market makers and STPs. STP brokers link client orders to liquidators with market access. So basically, brokerage services allow traders to trade directly on the market. It's just like a regular standard account, and it's actually a standard account itself. ECN, on the other hand, is a sophisticated trading system.
ECN allows you to view other offers and see the highest bids and highest bids on the market. You can also trade these details through negotiations. Unfortunately, ECN accounts require more deposits than standard accounts.
Apr 18 2023
What are the key features of FXOpen's mobile app, and how can a beginner in forex trading use it effectively to maximize their profits and minimize risks? Can the app be customized to suit individual trading needs, and what are the steps involved in downloading, installing, and setting up the app on different mobile devices? How does the app integrate with other trading tools and platforms, and what are the security measures in place to protect user data and transactions? Finally, how can a novice trader leverage the educational resources and support available through the app to improve their knowledge and skills in forex trading, and what are some tips and strategies for success in this dynamic and challenging market?
May 2 2023
It's nice to know FX OPEN has cryptocurrency trading features. Can you elaborate more about how may crypto coin available to trade here? Plus, can I deposit via crypto (aside of bitcoin)? Because I don't hodl btc, the price is too high. All I have is penny crypto. I have ETH and doge too, but not in a big amount. Plz explain how to deposit crypto via this mobile app.
Sep 1 2023
Hello, Can a demo account in open FX describe ECN conditions? I mean, is it possible to have a demo account with ECN functionality, so I don't need to know and learn about the standard account? Instead, I can learn ECN functionality with a demo account, which saves time, and I believe I can maximize all potential functionality of the ECN market. And as I see it, the spread in ECN seems very low and I guess that is very friendly to me.
Sep 3 2023
No, it is impossible to have the ECN feature in the demo account. Because the ECN account is linked to the main liquidator. Meanwhile, a demo account is just a tool brokers provide to monitor real market movements. So basically the demo account has no spreads or commissions because trading is done by the broker's server without passing your order to the LP (Liquidity Provider).
The demo account only provides trading tools and other basics learned in live trading. So don't be surprised if some events that will happen in the live account will not happen in the demo account. This is why, after defining your strategy, it is crucial to test it in the real market after pushing it back with a demo account.
Sep 4 2023
As I see it, Yes, it is possible to have a demo account with ECN functionality to simulate trading in ECN conditions. ECN stands for Electronic Communication Network, and it is a type of trading environment where buyers and sellers can directly interact with each other thru a network.
To get a better understanding of how ECN trading works, you can use a demo account provided by a broker that offers ECN trading. The demo account will allow you to test the ECN platform and practice trading in a simulated environment without risking any real money.
And NO, it is important to note that the trading conditions in a demo account may not perfectly match those of a real ECN account. This is because demo accounts are designed to give you a feel for the platform and trading environment, but may not include all the features and functionality of a real trading account.
Remember, the keyword is SIMULATION, not an exact match of real ECN trading conditions! (so, those demo accounts aren't totally useless after). In fact, when you start actual trading in an ECN account, you might find out that occasional slippage or huge spread suddenly spikes during specific trading sessions (e.g. news releases, or server updates). So, in essence, you can learn how to hone your trading strategies in a demo account, but eventually, you have to come prepared when random factors start to pop up in a real ECN account.
Sep 2 2023
As a beginner with some experience in Forex, I have always found MT4 to be the best choice for me. However, I am also curious about other trading platforms, and FXOpen seems to offer many options for me to choose from. Out of the three available trading platforms, I find each of them equally good, and I am a bit confused about which one to choose.
So, if I want to open an ECN account, which trading platform would be the best in terms of delivering ECN features like fast execution, DOM, and transparency? Need an explanation here, Thank you!
Sep 3 2023
TickTrader and MT5 are both awesome trading platforms that FXOpen offers. TickTrader is web-based, so you can use it easily from any web browser, without downloading or installing anything. On the other hand, MT5 is a more advanced platform that offers a ton of features, like the DOM feature that shows the order book, advanced charting tools, and automated trading with expert advisors (EAs).
Both platforms are great for ECN trading, but they have some differences. MT5 has more advanced features for experienced traders who want to customize their trading experience. But if you're new to trading or just want a simple and easy-to-use interface, TickTrader is a great choice. It even lets you trade directly from charts and offers different types of orders like market, limit, stop, and trailing stop orders.
So, when it comes down to it, both platforms have their unique benefits, and it's up to you to decide which one fits your trading style and needs better.
Sep 4 2023
I have never tried trading with a real account at several online brokers that provide trading such as OctaFx and Pepperstone, but I am very interested in the copy trading services offered by several brokers. and yes I'm interested in this article because I'm choosing the right broker to trade, but I've never heard of the Fx Open broker.
I've looked at the image above the article for the account types I can choose to trade at FXOpen. So I found out that there are several accounts I can choose from STP account to an ECN account.
I don't know the type of trading account in FXOpen, I mean mini, micro or standard account in FXOpen is not available?
Because many brokers will obviously offer such accounts, anyway I don't know what is STP and ECN and what is a trading account. What are the differences and advantages?
Sep 5 2023
You can find the account you need and read more FXOpen reviews on this broker review website. There are 9 account types there but I think as an international trader you can choose 4 account types and the rest can be chosen by Australian, UK or EU traders. One of the accounts is Micro and the other is Crypto and the rest are standard STP and ECN accounts.
As for STP, like any standard account, STP is basically a different type of broker. There are two types of brokers: market makers and STPs. STP brokers link client orders to liquidators with market access. So basically, brokerage services allow traders to trade directly on the market. It's just like a regular standard account, and it's actually a standard account itself. ECN, on the other hand, is a sophisticated trading system.
ECN allows you to view other offers and see the highest bids and highest bids on the market. You can also trade these details through negotiations. Unfortunately, ECN accounts require more deposits than standard accounts.
Sep 6 2023
Yes, there is a difference, but the difference is very small. For UK and EU (European Union) traders, you need to make a minimum deposit of 300 USD with a trading position of at least 0.01 lot.
This is a standard STP and ECN account. For AU traders, the minimum deposit is $200, but if you choose an ECN account, you cannot use scalping and Expert Advisors. The STP account allows a minimum deposit of 10$, scalping and expert advisors. On the other hand, crypto accounts are only allowed for international traders. Also, the trading conditions for international traders are friendlier than those in the UK, EU and AU.
I think it's because UK and EU regulations are different to AU regulations. In addition, the regulations of these countries are different from those of other countries such as the details of the countries regulated in FXOpen namely China, India, Cyprus, Hong Kong, Japan and other countries. So about regulation.
Sep 9 2023
I believe it may be prudent for me to forgo an ECN account, as it appears that such accounts are better suited for seasoned traders as opposed to beginners like myself. Despite this, I am keen on trading with FXOpen, as it has garnered positive reviews and appears to be a good fit for my needs. That being said, I am currently struggling with choosing between an STP and an ECN account, although I have gained some clarity after reviewing comments left by others. It appears that FXOpen's STP account may be more aligned with my goals and abilities.
However, I am concerned about the viability of scalping on FXOpen's STP account, given its 0.01 lot size and high leverage of up to 1:500. Can you please provide insights into whether or not such conditions are conducive to successful scalping? Thank you kindly for your assistance.
Sep 10 2023
Talking about scalping, you can actually do it in any type of trading account. It's all about opening and closing trades within a short time frame, usually just a few minutes. Beginner traders ready to trade on a live account often choose to trade on a standard account since the commission required is lower. Remember that if you trade at 0.01 lot, the value of each pip may be lower since 1 pip can be worth $0.1.
Regarding FXOpen, according to their review, the spreads start from 1.1 pip (you can read it here: FX Open Review), and the fees that may occur each time you trade with 0.01 lot start from $0.11. If you are able to scalp 15 pips per trade, your gross profit would be $1.65 or your net profit would be $1.54 ($1.65 - $0.11), which is still a profit. So, you can definitely trade with an STP account!
It's helpful to know that scalping can be performed in any account and that beginners may prefer to use a standard account due to the lower commission fees. Additionally, your breakdown of the pips, fees, and potential profits associated with FXOpen's STP account is informative. And I am willing to open the link that you gave above.
It's clear that careful consideration of these factors is important for any trader, particularly those who engage in scalping. While the potential profits may be attractive, it's crucial to also factor in the associated costs and risks. Overall, your insights provide valuable guidance for traders looking to engage in scalping through an STP account.
Nov 26 2023
It's great to discover that FX OPEN offers cryptocurrency trading options. Could you provide more details about the variety of cryptocurrencies available for trading on the platform? Additionally, I'm interested in depositing funds via cryptocurrencies other than Bitcoin. Since I don't hold BTC due to its high price, I have some penny cryptocurrencies like ETH and Doge, though not in large amounts. Could you please explain the process of depositing cryptocurrencies using the mobile app?
Nov 29 2023
Hey there, XM OPEN does indeed offer cryptocurrency trading, and you'll find a range of cryptocurrencies available on the platform. As for depositing funds via cryptocurrencies, the good news is that it's not limited to Bitcoin. If you hold penny cryptocurrencies like ETH and Doge, you're in luck.
To deposit crypto using the mobile app, you typically follow a straightforward process. Firstly, log in to your FX OPEN account on the mobile app. Look for the deposit or funding section, and you should find an option to deposit with cryptocurrencies. Select your preferred cryptocurrency, enter the amount you wish to deposit, and follow any additional prompts or instructions.
Keep in mind that specific steps might vary slightly depending on the app's design and updates. If you run into any issues or need more detailed instructions, don't hesitate to check the platform's help section or reach out to customer support for assistance. Happy trading!
Feb 28 2024
I find it quite pleasing to discover that FX OPEN incorporates cryptocurrency trading features into its platform. I'm intrigued to learn more about the range of cryptocurrencies available for trading here. Could you please delve deeper into the assortment of crypto coins that one can engage with on this platform?
Moreover, I'm interested to know whether it's possible to deposit funds using cryptocurrencies other than Bitcoin. Personally, I refrain from holding a significant amount of Bitcoin due to its relatively high valuation. Instead, my portfolio primarily consists of smaller cryptocurrencies such as penny cryptos, Ethereum, and Dogecoin.
Given this, I would greatly appreciate a detailed explanation of the procedure for depositing cryptocurrencies via the mobile application. Understanding this process would enable me to effectively manage my investments within the FX OPEN platform.
Mar 2 2024
Hello! Yes, FX OPEN indeed provides cryptocurrency trading functionalities. Concerning the array of cryptocurrencies accessible for trading on the platform, there's a diverse assortment that encompasses popular choices like Bitcoin, Ethereum, and Dogecoin, among others. Regarding depositing funds using cryptocurrencies, apart from Bitcoin, FX OPEN accommodates various alternative coins for deposits, including Ethereum and Dogecoin.
If you possess minimal Bitcoin holdings and prefer to deposit using alternative cryptocurrencies, you're welcome to do so. The procedure for depositing cryptocurrencies other than Bitcoin via the mobile app is simple. Just navigate to the deposit section within the app, choose your preferred cryptocurrency from the list of supported options, and follow the provided instructions to complete the deposit transaction. If you encounter any challenges or require further assistance, the FX OPEN customer support team is on standby to assist you through the process.
For more detailed information on deposits in general, you can refer to this article: How to Open Account in FXOpen