FXOpen Review


FXOpen is a well-established broker since 2003. FXOpen has headquarters in Australia, Russian Federation, Saint Kitts and Nevis and United Kingdom. They are generally well-suited for FXOpen to provide their Forex/CFD trading services to global clients.


This broker has also been regulated by ASIC 412871 and FCA (UK) 579202. Simple yet detailed information upon this broker can be seen below.


Company Information

Website
fxopen.com

Established
2003

Country
Australia, Russian Federation, Saint Kitts and Nevis and United Kingdom

Regulation
ASIC 412871
FCA (UK) 579202

Features

Bonus offers

Trading contests

PAMM accounts

Managed accounts

Affiliate program

Islamic accounts available

Vps

Account Information

This broker offers Micro, ECN, PAMM Standard, PAMM ECN, Micro ECN (FXOpen AU), Standard ECN (FXOpen AU), VIP ECN (FXOpen AU), Crypto, STP, ECN (FXOpen UK) and STP (FXOpen UK). To successfully navigate your trading account, you also need to consider about leverage and minimum deposit. Talking about leverage in general, the maximum leverage offered by FXOpen is up to 1:500. Meanwhile, you can open an account with a starting capital of $1

If you want to look for further information about this broker's offered account(s), please take a look at the list below.


Minimum Deposit

$1

Maximum Leverage

1:500

Spread

Variable

Commission

$1.50


Minimum Deposit $1

Minimum Position 0.001 lot

Spread Variable

Scalping

Expert Advisors

Hedging

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Instruments Traded

Besides lots of currency pair, FXOpen also offers some instruments you would like to trade on, such as Forex and Gold & silver for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.


Forex
1:500

Gold & silver
1:500


Minimum Deposit $100

Minimum Position 0.01 lot

Spread

Scalping

Expert Advisors

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Instruments Traded

Besides lots of currency pair, FXOpen also offers some instruments you would like to trade on, such as Forex, Gold & silver, CFD and Oil for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.


Forex
1:500

Gold & silver
1:500

CFD
1:500

Oil
1:100


Minimum Deposit $200

Minimum Position 0.01 lot

Spread Variable

Scalping

Expert Advisors

Hedging

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Instruments Traded

Besides lots of currency pair, FXOpen also offers some instruments you would like to trade on, such as Forex and Gold & silver for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.


Forex
1:100

Gold & silver
1:100


Minimum Deposit $1000

Minimum Position 0.01 lot

Spread

Scalping

Expert Advisors

Hedging

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Instruments Traded

Besides lots of currency pair, FXOpen also offers some instruments you would like to trade on, such as Forex and Gold & silver for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.


Forex
1:100

Gold & silver
1:100


Minimum Deposit $200

Minimum Position 0.01 lot

Spread Variable

Scalping

Expert Advisors

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Instruments Traded

Besides lots of currency pair, FXOpen also offers some instruments you would like to trade on, such as Forex and Gold & silver for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.


Forex
1:500

Gold & silver
1:100


Minimum Deposit $1000

Minimum Position 0.01 lot

Spread Variable

Scalping

Expert Advisors

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Instruments Traded

Besides lots of currency pair, FXOpen also offers some instruments you would like to trade on, such as Forex and Gold & silver for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.


Forex
1:500

Gold & silver
1:500


Minimum Deposit $25000

Minimum Position 0.01 lot

Spread Variable

Scalping

Expert Advisors

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Instruments Traded

Besides lots of currency pair, FXOpen also offers some instruments you would like to trade on, such as Forex and Gold & silver for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.


Forex
1:500

Gold & silver
1:500


Minimum Deposit $10

Minimum Position 0.01 lot

Spread

Scalping

Expert Advisors

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Instruments Traded

Besides lots of currency pair, FXOpen also offers some instruments you would like to trade on, such as Cryptocurrencies for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.


Cryptocurrencies
1:3


Minimum Deposit $10

Minimum Position 0.01 lot

Spread

Scalping

Expert Advisors

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Instruments Traded

Besides lots of currency pair, FXOpen also offers some instruments you would like to trade on, such as Forex and Gold & silver for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.


Forex
1:500

Gold & silver
1:500


Minimum Deposit $300

Minimum Position 0.01 lot

Spread Variable

Scalping

Expert Advisors

Hedging

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Instruments Traded

Besides lots of currency pair, FXOpen also offers some instruments you would like to trade on, such as Forex, Gold & silver and CFD for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.


Forex
1:100

Gold & silver
1:100

CFD
1:100


Minimum Deposit $300

Minimum Position 0.01 lot

Spread Variable

Scalping

Expert Advisors

Instruments Traded

Besides lots of currency pair, FXOpen also offers some instruments you would like to trade on, such as Forex and Gold & silver for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.


Forex
1:500

Gold & silver
1:500

Payment Methods

Bitcoin : As a payment method, Bitcoin is reliable for its low cost and quick process. Brokers have been integrating Bitcoin as one of their funding methods especially after the cryptocurrency's rise in popularity. Now, traders who have digital wallets can easily transfer their funds to and from their trading accounts.

CashU : If you live in the Middle East, CashU is one of the most popular online payment services there. CashU is a digital wallet that allows clients to pay or transfer money online instantly and offer users its own pre-paid MasterCard with no absolutely additional fees attached. Introduced in July 2002, CashU has targeted the Middle East and North African markets where it serves close to 2.3 million customers. This is the reason why many of the forex brokers that are expanding in the North African and Middle East market accept CashU as one of their payment methods.

FasaPay : Known as an e-payment for retail forex traders, FasaPay does not require a huge amount of fee, giving it a competitive edge among any other e-payments in the forex brokerage industry. Instant process is also featured as one of its advantages.

Neteller : Like PayPal, Neteller is one of the most popular online payment services today. Due to this popularity, nearly all forex brokers accept Neteller as a payment method for their clients' fund deposit and withdrawal. Although the Neteller system is available almost all over the world, it remains particularly popular in Europe.

QIWI : Qiwi is an e-wallet or electronic payment service provider from Rusia that is introduced in 2007. The service is mainly used by individuals and businesses in Russia, Ukraine, Kazakhstan, Moldova, Belarus, Romania, the US, and the UAE.

Skrill : Mostly, all forex brokers provide Skrill as an online payment service option. Fast, easy, and safe transactions are the main reasons why traders using this method. Traders can use Skrill to fund their trading accounts with either payment cards, bank wire transfers, or directly from a Skrill e-wallet account.

WebMoney : WebMoney is one of the major online wallet services which many people use to send money around the world. For this reason, there is a large number of forex brokers that accept WebMoney today. Like other online payment services today, WebMoney is supported by mobile applications to make transactions more efficient.

Wire transfer : Wire Transfer is the most commonly used payment method. Nearly all brokers in the world provide this method on their service. The reason is wire transfer is basically traditional transfer between banks in the worldwide. So, this method is guaranteed for its safety. This really helps traders who avoid third-party payments or don't have credit cards.

FXOpen also provides payment with Apple Pay, Credit/debit cards, DIXIPAY, IntellectMoney, Liqpay, Litecoin, Local bank transfer, Payza, RBK Money, UnionPay and Yandex.Money

Trading Platforms

Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. In addition, price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitabiliy by placing well-planned trades.

Hereby, FXOpen offers you MetaTrader 4 (Limited with 30 days of inactivity) and MetaTrader 5 (Limited with 30 days of inactivity).

Customer Support

Do you have any question or find any trouble related to FXOpen? If you do, you should reach FXOpen's support to get the information that you need. Here is the detail of the broker's customer support:

Website Languages

Arabic
Chinese
English
Indonesian
Russian

Office
Support

Email
Support

Call
Support

Chat
Support

Extensive Review

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 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.


Give Your Review and Rate This Broker



27 Reviews


Julius Helge

Jul 23 2020

So far I have never experienced significant obstacles during trading at a FXOpen broker. This year is my second year with FXopen. Thank you :)

Sammy

Jul 23 2020

Great FXopen VPS service, so fast!

Katharina S

Jul 23 2020

I find it very difficult to be able to find a trusted local broker. I feel very fortunate to be able to trade on FXopen. Now trading is not only profitable but also comfortable and enjoyable.

Danny Lim

Jul 23 2020

So far I am satisfied with FXOpen's brokerage services, small spreads, and many trading account options. So you can adjust which one is suitable for your needs. Thanks

Wong Apho

Jul 23 2020

Great! This is the broker I'm looking for. Okay for scalping

Jayadi Adhie

Jul 23 2020

According to my opinion, FXOpen is a good broker. Unfortunately, in Indonesia is not as popular as those of outside brokers who expand here. Even though this is pretty good and the service is consistent

Adrien

Jul 23 2020

I am really happy, yesterday I got the info that the deposit is now free of charge, so I'm getting more comfortable trading here. trading is also almost never requote

Gina Elliotte

Jul 23 2020

In the beginning, I joined FXOPEN because there was a 10-dollar bonus, not bad for new ones trying to trade for free. I've ever gain some profit, but end up losing because of impatience,. cry. 

Dylan Faye

Jul 23 2020

Actually, I am quite interested in the free vps offered... but the money requirements is quite expensive for a low-cost trader. I hope in the future FXOpen can be more generous. hhhh

Jerome Keane

Jul 23 2020

I Rarely take part in trading contests, but if I follow FXOpen. I will continue to follow the competition because I still get bonus points even though I didn't win. HAHAHA. it's quite good

Ng Yuen Hat

Jul 23 2020

Only trading on fxopen so far, already feels like home. The deposit process is quick. the wd process is also no problemo. Hopefully, it will still be maintained, if possible, there will be even more trading bonuses too, hehehehehe

Sierra nevada

Jul 23 2020

At first, looking at the trading contest page is so confusing, let alone directed to another page whose name is different. Trusted or not? So I tried, it turned out to be real, yesterday I was gaining some bonus during the race. bRAVO!

Yuelle Hargmoud

Jul 23 2020

Account registration at FXOPEN is very complicated!!

I already scan my ID card,  just because there are a few spots, my verification isn't processed/rejected.

Sophia

Jul 23 2020

FXopen is an international broker that I believe from the start of trading, the ECN account is quite compatible, there are no surprises or spike requotes.

K. Miller

Jul 23 2020

I am already suitable in FXOpen because the requirements are not complicated and less drama. Hopefully, the performance will continue to be maintained. Go go FXOpen!.

Amad Yajeed

Jul 23 2020

I know a lot of traders thanks to FXOpen in the forum, beside it, you are free to join the race too. quite useful, tenkyu

Miriam

Jul 23 2020

Advisor noobs

Jul 23 2020

A minimum deposit of 1 USD really seems to make trading affordable. But if you really want to learn, try depositing 5-10 USD, brothers and sisters, if it's only 1 USD, just a moment, you will get the MC.

Amelie Booker

Jul 23 2020

Customer service is very fast response and easy to contact. Not bad, my profit can be smoothly withdrawn for buying some snacks. Lol

Jeremy S

Jul 23 2020

I enjoy trading on FXOpen because the cashback bonus is practical, bro, you don't need an email to request a bonus or everything! The fund automatically goes to the account.

Zachary Lw

Jul 23 2020

It's really good to trade forex on a free swap account. When you want to trade until 2-3 days, don't worry about the swap interest

Shia Gevendru

Jul 23 2020

the good thing about offshore regulation is that we really have big leverage.

Jamil

Jul 23 2020

I have been trading with this broker so far, the execution on STP accounts is also fast, there are no requotes or spreads, everything is normal, I like this broker

Queen Trader

Jul 23 2020

I have experience with this broker. At night, the spread widens, the ask price suddenly rises away from the bid ... (a few months ago I made a EURJPY transaction, the BID remained in place, the ASK rose high ...) Since then I never wanted to use a broker this again .....

Sergio Davos

Jul 23 2020

We can register on the website directly, no need to come directly to the broker's office to open an account. Everything can be managed online. FXOpen is a good one for online withdrawal services. Many have proven

Yandhi Suwatri

Jul 23 2020

I once opened an account, After the FXOpen office in the BCA tower closed it was hard to contact. 

Yanny

Jul 23 2020

I think this broker deserves a value of 8, especially for quick and withdrawal services.