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.

Account Information

Apart from the forex demo account , this broker offers Micro, 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 a more simple explanation regarding this broker's account type(s), take a loot at the following chart:

Minimum Deposit

$1

Maximum Leverage

1:500

Spread

Variable

Commission

$1.50

• Micro
• ECN
• Micro ECN (FXOpen AU)
• Standard ECN (FXOpen AU)
• VIP ECN (FXOpen AU)
• Crypto
• STP
• ECN (FXOpen UK)
• STP (FXOpen UK)

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.

As for Micro account, FXOpen specifically provides it with the following instruments and leverage:

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-Cancels-Other (OCO) orders

One-click trading

Mobile trading

Browser-based platform

Trading via API

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.

As for ECN account, FXOpen specifically provides it with the following instruments and leverage:

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

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.

As for Micro ECN (FXOpen AU) account, FXOpen specifically provides it with the following instruments and leverage:

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.

As for Standard ECN (FXOpen AU) account, FXOpen specifically provides it with the following instruments and leverage:

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.

As for VIP ECN (FXOpen AU) account, FXOpen specifically provides it with the following instruments and leverage:

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.

As for Crypto account, FXOpen specifically provides it with the following instruments and leverage:

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.

As for STP account, FXOpen specifically provides it with the following instruments and leverage:

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.

As for ECN (FXOpen UK) account, FXOpen specifically provides it with the following instruments and leverage:

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.

As for STP (FXOpen UK) account, FXOpen specifically provides it with the following instruments and leverage:

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, Bitcoin Cash, Credit/debit cards, DIXIPAY, Ethereum, IntellectMoney, Liqpay, Litecoin, Local bank transfer, Payza, RBK Money, Tether (USDT), UnionPay and Yandex.Money

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 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.

FAQ About FXOpen

Is FXOpen a good broker?

A good broker constitutes a good service for traders in terms of many criteria including trading instruments, deposits and withdrawals, as well as customer support. What is good for a certain trader does not necessarily mean the same thing to you. So the term "a good broker" can vary in meaning. You can decide for yourself if FXOpen is a good broker for you or not by reviewing the criteria. In general, FXOpen provides trading service in Forex , Gold & silver , CFD , Oil and Cryptocurrencies . As for the payment methods, you can choose between Apple Pay, Bitcoin, Bitcoin Cash, CashU, Credit/debit cards, DIXIPAY, Ethereum, FasaPay, IntellectMoney, Liqpay, Litecoin, Local bank transfer, Neteller, Payza, QIWI, RBK Money, Skrill, Tether (USDT), UnionPay, WebMoney, Wire transfer and Yandex.Money. The customer support is available via Callback, Email, Forum, Live chat and Skype.

What is the minimum deposit for FXOpen?

The starting capital in FXOpen is $1.

Is FXOpen regulated?

FXOpen is regulated by ASIC 412871 and FCA (UK) 579202. A regulated broker equals a more responsible trading environment. You can also expect a more guaranteed safety of funds as some of regulatory frameworks in the financial industry require a compensation scheme in case of unprecedented incidents that result in clients' financial losses.

Is FXOpen legit?

FXOpen is a brokerage company offering trading services for clients since 2003 with offices in Australia, Russian Federation, Saint Kitts and Nevis and United Kingdom.