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, FCA (UK) 579202 and The Financial Commission 01.09.2013.

Founded in 2005, the company is registered in Nevis as a company, but not regulated by the Financial Services Regulatory Commission. Instead, investors are protected by The Financial Commission, based in Hong Kong.

FXOpen is also a member of the Investor Compensation Fund, which protects client funds up to 20,000 EUR, which is on par with CySEC regulated entities. Overall, FXOpen has a clean reputation for maintaining a safe and secure trading environment.


Company Information

Website
fxopen.com

Established
2003

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

Regulation
ASIC 412871
FCA (UK), 579202
The Financial Commission, 01.09.2013

Features

Bonus offers

Trading contests

PAMM accounts

Managed accounts

Affiliate program

Islamic accounts available

Vps

Account Information

Apart from the forex demo account, this broker offers STP (FXOpen UK), ECN (FXOpen UK), Crypto, STP, VIP ECN (FXOpen AU), Standard ECN (FXOpen AU), Micro ECN (FXOpen AU), Micro and ECN. 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.

FXOpen offers 9 live accounts:

  • Micro: Minimum deposit requirements vary by account option, the lowest found with the Micro type at $1. With variable spreads, Micro offers mobile trading, automated trading, and a one-click trading experience. Tools like pending orders, trailing stop, Expert Advisors, hedging, and scalping capabilities are also available. The minimum transaction size is 0.001 lots.
  • ECN: The minimum deposit with an ECN account is $100 while the minimum stake size is 0.01 lots. ECN comes with smart features like trailing stop, pending orders, one-click trading, mobile trading, automated trading, OCO orders, browser-based platform, and trading with API. It also allows trading with Expert Advisors, hedging, as well as a scalping strategy. Not that it charges an overnight swap.
  • Micro ECN (FXOpen AU): There is a minimum deposit of $200 with variable spreads. The clients can enjoy a wide range of facilitates, such as Exper Advisors, one-click trading, mobile trading, automated trading, trailing stop, and pending orders. Hedging and scalping are permitted. Micro ECN charges swap on positions held overnight. The minimum transaction size is 0.01 lots.
  • Standard ECN (FXOpen AU): Standard ECN requires a minimum starting capital of $1000 while the minimum contract size is 0.01 lots. Clients can trade with variable spread. On a more positive note, this account houses several useful market tools including Expert Advisors, trailing stop, pending orders, one-click trading, mobile trading, and automated trading. Hedging and scalping are allowed but swaps are charged for holding positions open overnight.
  • VIP ECN (FXOpen AU): VIP ECN has a minimum deposit of $25000, 0.01 lots minimum order, and variable spread. Other resources available include trailing stop, pending orders, one-click trading, mobile trading, and automated trading. Additionally, hedging, scalping, and Expert Advisors are also allowed. The account does charge swap fees.
  • Crypto: Minimum deposits starting at $10 and position sizes from 0.01 lots. Crypto account provides mobile trading, one-click trading, automated trading, and advanced tools such as Expert Advisors, pending orders, and trailing stops. One of the benefits of this account is you are allowed to do scalping and hedging. Swap charges apply to positions held overnight.
  • STP: The minimum deposit for STP account is $10 and the minimum trade size is 0.01 lots. STP contains a range of innovative tools, such as trailing stop, pending orders, one-click trading, mobile trading, and automated trading. In addition, it allows scalping and hedging, but charges swap for positions held overnight.
  • ECN (FXOpen UK): The minimum deposit required is $300 and a minimum lot size of 0.01 with variable spread. You can enjoy advanced features including Expert Advisors, trailing stop, pending orders, one-click trading, mobile trading, and automated trading. Scalping and hedging are allowed.
  • STP (FXOpen UK): The minimum deposit for this kind of account is $300 and position sizes start from 0.01 lots. Along with variable spread, clients will be pleased by scalping and Expert Advisors' capabilities.
pin

Minimum Deposit

$1

pin

Maximum Leverage

1:500

pin

Spread

Variable

pin

Commission

$1.50

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 $300

Minimum Position 0.01 lot

Spread Variable

Scalping

Expert Advisors

Fees

FXOpen offers relatively low-cost trading. For STP account, the lowest identified spread was 1.1 pips. For the ECN alternative, the typical spread is as low as 0.1 pips with a commission of merely $1.50 per lot. The broker also charges an overnight open position fee and third-party withdrawal fees, which is fairly standard in the industry.

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.

FXOpen traders have access to:

  • 50 currency pairs
  • 5 commodities
  • 39 cryptocurrencies
  • 535 US equity CFDs
  • 9 index CFDs

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


Forex

Forex
1:500

Gold & silver

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

Fees

FXOpen offers relatively low-cost trading. For STP account, the lowest identified spread was 1.1 pips. For the ECN alternative, the typical spread is as low as 0.1 pips with a commission of merely $1.50 per lot. The broker also charges an overnight open position fee and third-party withdrawal fees, which is fairly standard in the industry.

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.

FXOpen traders have access to:

  • 50 currency pairs
  • 5 commodities
  • 39 cryptocurrencies
  • 535 US equity CFDs
  • 9 index CFDs

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


Forex

Forex
1:100

Gold & silver

Gold & silver
1:100


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

Fees

FXOpen offers relatively low-cost trading. For STP account, the lowest identified spread was 1.1 pips. For the ECN alternative, the typical spread is as low as 0.1 pips with a commission of merely $1.50 per lot. The broker also charges an overnight open position fee and third-party withdrawal fees, which is fairly standard in the industry.

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.

FXOpen traders have access to:

  • 50 currency pairs
  • 5 commodities
  • 39 cryptocurrencies
  • 535 US equity CFDs
  • 9 index CFDs

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


Cryptocurrencies

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

Fees

FXOpen offers relatively low-cost trading. For STP account, the lowest identified spread was 1.1 pips. For the ECN alternative, the typical spread is as low as 0.1 pips with a commission of merely $1.50 per lot. The broker also charges an overnight open position fee and third-party withdrawal fees, which is fairly standard in the industry.

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.

FXOpen traders have access to:

  • 50 currency pairs
  • 5 commodities
  • 39 cryptocurrencies
  • 535 US equity CFDs
  • 9 index CFDs

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


Forex

Forex
1:500

Gold & silver

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

Fees

FXOpen offers relatively low-cost trading. For STP account, the lowest identified spread was 1.1 pips. For the ECN alternative, the typical spread is as low as 0.1 pips with a commission of merely $1.50 per lot. The broker also charges an overnight open position fee and third-party withdrawal fees, which is fairly standard in the industry.

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.

FXOpen traders have access to:

  • 50 currency pairs
  • 5 commodities
  • 39 cryptocurrencies
  • 535 US equity CFDs
  • 9 index CFDs

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


Forex

Forex
1:500

Gold & silver

Gold & silver
1:500


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

Fees

FXOpen offers relatively low-cost trading. For STP account, the lowest identified spread was 1.1 pips. For the ECN alternative, the typical spread is as low as 0.1 pips with a commission of merely $1.50 per lot. The broker also charges an overnight open position fee and third-party withdrawal fees, which is fairly standard in the industry.

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.

FXOpen traders have access to:

  • 50 currency pairs
  • 5 commodities
  • 39 cryptocurrencies
  • 535 US equity CFDs
  • 9 index CFDs

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


Forex

Forex
1:500

Gold & silver

Gold & silver
1:500


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

Fees

FXOpen offers relatively low-cost trading. For STP account, the lowest identified spread was 1.1 pips. For the ECN alternative, the typical spread is as low as 0.1 pips with a commission of merely $1.50 per lot. The broker also charges an overnight open position fee and third-party withdrawal fees, which is fairly standard in the industry.

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.

FXOpen traders have access to:

  • 50 currency pairs
  • 5 commodities
  • 39 cryptocurrencies
  • 535 US equity CFDs
  • 9 index CFDs

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


Forex

Forex
1:500

Gold & silver

Gold & silver
1:100


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

Fees

FXOpen offers relatively low-cost trading. For STP account, the lowest identified spread was 1.1 pips. For the ECN alternative, the typical spread is as low as 0.1 pips with a commission of merely $1.50 per lot. The broker also charges an overnight open position fee and third-party withdrawal fees, which is fairly standard in the industry.

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.

FXOpen traders have access to:

  • 50 currency pairs
  • 5 commodities
  • 39 cryptocurrencies
  • 535 US equity CFDs
  • 9 index CFDs

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


Forex

Forex
1:500

Gold & silver

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

Fees

FXOpen offers relatively low-cost trading. For STP account, the lowest identified spread was 1.1 pips. For the ECN alternative, the typical spread is as low as 0.1 pips with a commission of merely $1.50 per lot. The broker also charges an overnight open position fee and third-party withdrawal fees, which is fairly standard in the industry.

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.

FXOpen traders have access to:

  • 50 currency pairs
  • 5 commodities
  • 39 cryptocurrencies
  • 535 US equity CFDs
  • 9 index CFDs

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


Forex

Forex
1:500

Gold & silver

Gold & silver
1:500

Payment Methods

FXOpen provides a decent range of funding methods including bank wires, credit/debit cards, local bank transfers, AstroPay, Redeem Codes, WebMoney, Perfect Money, QIWI Wallet, Yandex Money, FasaPay, and AirTM. Minimum and maximum deposit and withdrawal amounts depend on the preferred payment processor, as do processing times and fees.

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.

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.

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.

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.

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.

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.

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.

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.

FXOpen also provides payment with Apple Pay, YooMoney, UnionPay, Tether (USDT), RBK Money, Payza, Local bank transfer, Litecoin, Liqpay, IntellectMoney, Ethereum, DIXIPAY, Credit/debit cards and Bitcoin Cash




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), MetaTrader 5 (Limited with 30 days) and TickTrader (Limited with 30 days).

  • MT4: MT4 is ideal for both beginners and experts and offers a range of customizable features, including built-in indicators and graphical objects for technical analysis, many types of orders (market, limit, and stop), intuitive charting package, rich historical data, trading signals, and many more. MT4 is available for download on Windows PCs and can be accessed from the Platforms page on the broker’s website.

metatrader 4

  • MT5: MT5 platform designed with the professional trader in mind. The platform boasts more built-in indicators and graphical objects for technical analysis than the previous version, 21 timeframes to track price movements, multi-currency strategy tester, and also allowing netting and hedging strategy.

metatrader 5

  • TickTrader: TickTrader is a trading platform offering much of the same features as MetaTrader. Using one trading account, TickTrader ECN, the platform is suitable for both beginners and experts. A web-based version of TickTrader is also available so users can access the web terminal from FXOpen website.

ticktrader

 

Unique Features

FXOpen offers various supplementary trading features, designed for both beginners and experts:

  • FXOpen developed an ECN bridge for the MT4 trading platform in 2009.
  • Access to institutional liquidity.
  • The One-Click Trading and Level 2 plugin.
  • The broker performs well as they give free VPS service supports by automated trading solutions. However, only accounts with equity above $5,000 or trading volume that exceeds $10 million per month can apply for this service. Of course, other clients may apply but with a $30 monthly fee.

 

Research and Education

There are a number of useful research educational resources on the FXOpen blog:

  • The daily analytics consists of written content and charts.
  • Cryptocurrencies populate a dedicated section.
  • Educational articles are available under the Strategies category.
  • Live news streaming on the main website.

 

Bonus and Promotions

Traders have a $1 welcome bonus when they sign up for an account at FXOpen Micro and a $10 no deposit bonus for the STP account. A time-limited cashback program is equally available with a rather complex structure. The online broker also runs demo account competitions, ForexCup, with real cash awards are credited to trader accounts.

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:

FXOpen customer support is available 24/5 via live chat, phone call, or e-mail. Support tickets are answered Monday through Friday between 7:00 and 16:00. The Help Center is helpful and responsive when answering basic common questions.

Website Languages

Arabic
Chinese
English
French
German
Hungarian
Indonesian
Italian
Russian
Spanish

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 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 , Cryptocurrencies and Oil . 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 YooMoney. 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, FCA (UK) 579202 and The Financial Commission 01.09.2013. 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.


Give Your Review and Rate This Broker


These aspects are optional but will determine your review's reliablity


89 Reviews

Phylis Mccabe
Singapore Aug 31 2022

Probably on the top three of my favorite broker. The service is hella amazing, I can't find another word to describe it. The funny thing is, I switch to this broker from my old one because I got cheated (order not executed properly). Not in this broker tho, now I feel safe every time I place a market order because I know it will be executed.

So far I haven't found anything to complain yet. I guess I'm gonna go with 5-star review for now.

Nikki Frasier
Ukraine Aug 31 2022

I think it's wonderful that FXOpen has such a wide variety of trading instruments to trade with. However, I must ask if automated trading or copy trading is available in FXopen? The reason is that I like automatic trading, sure it's not always resulted in a profitable position but it's practical. If yes, then I wonder what kind of automatic trading platform is available in this broker.

Cherryl Kimmel
United States Aug 31 2022

What kind of demo account is available in FXOpen?

To elaborate, from my knowledge, FXOpen is a multi-asset broker.

There are different financial products available in this broker.

For example, I know that they offer CFD assets. So, I wonder if I can try trading these assets through their demo account.

It would be amazing if I could.

Marth Blevins
Germany Aug 31 2022

Does FXOpen provide insurance of some kind? The reason I ask about this is that I just experience fraud from my old broker. I suffer a loss that wasn't my fault, rather it was because of their technical mistake. I wonder if this broker will provide some sort of protection for their traders if something unexpected happens that causes a huge loss?

Cori Tremblay
Pakistan Aug 31 2022

FXOpen has plenty of trading accounts, but there are two accounts that caught my attention. What is the difference between ECN and an STP account? Although, I understand that the ECN account comes with commission fees, while the STP account doesn't charge one. Is there also any difference regarding what instruments I can trade in both accounts?

Fionn
Israel Aug 18 2022
Account Number: (7027xxx)

I have traded in the ECN and the STP trading accounts of FXOpen.
It depends on how much trading capital you have and what are your targets.
For me i keep using both the accounts for my trades in the Currencies, Oil and Cryptos.

Silas Denham
Argentina Jun 24 2022

I have several questions about the micro account in FXOpen

1. How much are the minimum deposits for this account? Is it any different than others?

2. Will the spread be fixed or floating?

3. Does it allows expert advisors, hedging, as well as scalping?

4. Will there be any inactivity fees if I don't trade for more than 6 months?

Louie Pendergrass
France Jun 24 2022

Does FXOpens offer bonuses or promotions for new traders at the time? If not, do they have trading contests happening right now? I have been looking for a trading contest to check out my ability in the forex markets. If they do offers a trading contest, what kind of tournament do they usually hold? Is it a demo account contest or a live account contest?

Dalton Tatum
Germany Jun 24 2022

Here are some questions I have regarding the PAMM service in FXOpen. First of all, I saw that this broker also offers PAMM service for cryptocurrency trading, so that is a plus. If I trade cryptocurrency using the regular account, how do I switch to the PAMM cryptocurrency account? Second of all, does this account offers swap-free/Islamic account features?

Humberto Proctor
Australia Jun 24 2022

Do you guys offer deposits and withdrawals through a bank transfer? If yes, then what currencies do you accept for this service? I personally live in Australia, so I would prefer to do it with AUD, but I also wouldn't mind paying in USD as well. For bank transfer deposits, how long do I have to wait until the money arrives in my account?

 

Horacio Hastings
Australia Jun 24 2022

I saw on the official website that FXOpen offers VPS hosting service. Did it say to apply for it? But I don't know how do I apply for VPS hosting service? Will it make any difference in the order execution speeds if I opt not to do so? Another think I want to ask is I want to know whether FXOpen is an actual ECN broker or not as I would prefer a true ECN broker.

Laura Cohen
Ukraine Jun 8 2022

Is FXOpen suitable for crypto trading? I understand that they now have a dedicated Crypto account, but what I'm worried about is that I don't know if I can enjoy the same spreads as the ECN or the micro account? The reason I am asking is that I want to try crypto trading but I don't think I can get any leverage in crypto exchanges.

FXOpen

Jun 17 2022

Laura Cohen:  Yes. Leverage will be 1:3
Also, you can trade Cryptos on an ECN TickTrader account. Here are all ECN instruments including Cryptos, CFDs, and Stocks 
The recommended minimum for a Crypto account is USD 10, and for an ECN account - USD 100. Feel free to compare account types on our websites.
On both ECN and Crypto trading accounts we offer raw tight spreads that we receive directly from our LPs, we don't manipulate spreads in any ways.

Joann Cross
Turkey Jun 8 2022

My question is about the micro trading accounts in FXOpen. Here are some of them:

1. How much is the minimum and maximum transaction size?

2. Can I use this account for hedging and scalping?

3. Ho much is the minimum account in the FXOpen micro account?

FXOpen

Jun 17 2022

Joann Cross: The minimum deposit for a Micro account is USD 1. A micro account is a cent account, all trading on it is performed in US cents. The minimum transaction size is 0.01 lots, maximum - is 1000 lots. Hedging is allowed, and scalping, and news trading - are not allowed on Micro accounts.

Ruby Ward
Taiwan Jun 8 2022

Does FXOpen have CFDs trading? What kind of trading platforms do they offer for CFD trading and what kind of CFD assets do they offer? I was thinking of moving to a new broker since my old broker disappointed me and failed to give me my money back. However, I am a CFD broker and that is why I have to be extra careful when choosing a broker.

FXOpen

Jun 17 2022

Ruby Ward: Yes we offer CFD trading on our ECN accounts. You can see the full list of instruments along with specifications on our websites.

Regina Johnson
Taiwan Jun 8 2022

Does FXOpen offer educational support for new traders like me? I have been looking all over their official websites but I couldn't find it. If there is any, is it free for all clients or do I have to pay an extra fee for their courses? I pretty much prefer classes with more interactive methods such as webinars, but I won't mind podcasts since I listen to them while doing my schedules.

FXOpen

Jun 17 2022

Regina Johnson: We don't offer any education courses. However, we have our detailed and comprehensive knowledge base where you may find all the answers on our official websites as well as a dedicated youtube channel for educational purposes.

Rose Mcbride
South Africa Jun 8 2022

Is FXOpen an ECN broker? I mean a true ECN broker, not some broker claiming to be one. I always prefer ECN brokers since they give me the best prices and I know that I can trade without worrying. My second question is I want to know how much the initial deposits are for FXOpen? Also if there is any deposit fees I should know beforehand.

FXOpen

Singapore Jun 17 2022

Rose Mcbride: Our ECN accounts are non-dealing desk accounts with market execution, floating spreads, and tight spreads. We aggregate the best Bid and Aks prices from the pool of prices that we receive from our LPs. We also offer Level 2 market depth so that you can see all price levels along with their volumes
The minimum deposit for a Micro account is USD 1

Shayne Beaudoin
France May 24 2022

For me security, if one of the major factors before I decide to open an account with a broker. Sometimes, I checked what kind of security measures they use to protect our data and accounts. Aside from that, I also need to know if they apply for a segregated account and where it's located? I had the opportunity of experiencing how unprofessional brokers without segregated accounts are. 

FXOpen

Jun 17 2022

Shayne Beaudoin: FXOpen INT is a trading name of FXOpen Markets Limited a company duly registered in Nevis under company No. C 42235. FXOpen INT is a member of The Financial Commission. FXOpen Markets Limited as per the legislation of the place of the company's registration is not obliged to provide its clients with segregated accounts and any respective insurance of clients' funds. However, FXOpen Markets Limited does hold all client’s funds fully segregated from the proper company funds.
In case you are interested in the strictest protection of your funds and want to receive insurance benefits, you are welcome to open accounts in the FXOpen Ltd. or FXOpen AU Pty Ltd. Or in FXOpen EU (Europe, CySEC regulated). These companies have a legal obligation to hold clients' funds segregated and provide insurance in compliance with the local regulator's rules (FCA, CySEC, and ASIC respectively).

Renato Childress
Switzerland May 24 2022

Has anyone ever tried trading cryptocurrencies with FXOpen? I was just wondering if I should move from my exchanges to a broker. A lot of people actually suggested me to tried several brokers, including FXOpen. Now, I know that this broker provides tight spreads due to their nature as an ECN broker. I wonder if I can enjoy that features as well in cryptocurrency trading? Also, I tend to trade major coins like BTC and ETH, but I also love to try small coins and see where that leads me. Can I do that here? How many crypto-assets do they offer?

FXOpen

Jun 17 2022

Renato Childress: Yes sure. We offer Crypto trading accounts dedicated to Crypto trading in particular. It's basically like ECN account but with Cryptos only. Here are all pairs available

Myles Larry
Taiwan May 24 2022

So, I recently created a demo account in FXOpen and so far I am loving every part of it. It has a very simple user interface which I really like. I do love more advanced tools, but they tend to be complicated so I just stick to the basics. I think I might want to try trading in the live account. I wonder if I can create the live account from the demo account? Do I need to add some extra doccuments? If yes, then what do I need to prepare?

FXOpen

Jun 17 2022

Myles Larry: You may register a demo account without any documents. Your profile and eWallet (main account for payments) will be created for you automatically. Then you'll be able to convert it into live registration when you're ready. You'll need to verify your account for that purpose
We require the following documents for verification:
1) ID (Driver License, Passport, National ID card), that will be valid for at least 3 months from the date you upload;
2)Utility bill or Bank Statement not older than 2 months from current date;
3) A selfie with your ID document (a photo where you hold your ID document near your face).
Please scan your documents and upload them to MyFXOpen area via "Settings -> Verification". (We recommend scanner resolution of 300 dpi, and the size of each file approx. 1 Mb)
The verification process takes on average 10-20 minutes, depending on the line of requests in the system.

Hiram Schwarz
Argentina May 24 2022

I am a new trader. Naturally, I don't have enough knowledge about trading and what makes a good broker. So, I need to find a broker that is suitable for beginners. Things that I would consider are:

1. Low minimum deposits with no fee

2. Tight spreads

3. Educational materials

4. Good customer services

does FXOpen has all of these requirements?

FXOpen

Jun 17 2022

Hiram Schwarz:Yes of course.
All deposit and withdrawals fees can be seen on our websites
We have our detailed and comprehensive knowledge base as well as a dedicated youtube channel for educational purposes on our official websites as well.
Customer support is available via live chat, social media, popular messengers, and e-mail as well.

Gavin Luttrell
Singapore May 24 2022

Is FXOpen a true ECN broker? I notice a lot of brokerages these days claim to be ECN brokers while they're actually not. While it's true that they do offer low spread accounts as an ECN broker does but it's not the real thing. I often ended up feeling scammed and lied to. How do I know that a broker like FXOpen is a real ECN and I am not getting scammed? 

FXOpen

Jun 17 2022

Gavin Luttrell:Our ECN accounts are non-dealing desk accounts with market execution, floating spreads and tight spreads. We aggregate the best Bid and Aks prices from the pool of prices that we receive from our LPs. We also offer Level 2 market depth so that you can see all price levels along with their volumes

Wyoschin
France May 17 2022
Account Number: (65447xxx)

Such an excellent experience I have with FXOpen. Keep up the good work.

Bakuchia
Argentina May 17 2022

They have a leverage and spread scheme that is quite competitive when compared to other brokers.

Vyndiez
South Africa May 13 2022

So far I don't have any problem with FXOpen. All is good.

Garry Hilson
United States May 13 2022
Account Number: (61487xxx)

The best feature from this broker is they can execute my order so fast.

Averey
Turkey Apr 13 2022
Account Number: (23456xxx)

After trading with this broker for a few months, I will say that FXOpen really worth the hype. Please all of you consider to open an account here.

Henry Mullins
Malaysia Apr 7 2022
Account Number: (34152xxx)

Very reliable broker indeed. I think that FXOpen is one of the best brokers all around. I mean, they have one of the best trading platforms I have ever used. It is simple, so very easy to understand. The support team is surprisingly very friendly and accomodating, overall it feels very professional. I know that some people it's weird that I praise them for their customer support. But, the truth is a few months ago I was having trouble with my deposit and I only realize it at night, so I contacted them in panic mode. They still reply very nicely and fix it within seconds. If that isn't a good work ethic, I don't know what is.

Olivia Madrigal
Taiwan Jan 31 2022
Account Number: (163225xxx)

So far I have been very satisfied with FXOpen and I'd like to share a few thoughts about them. I actually started trading with this broker because my friend recommended it. At first, I don't really believe it, but they have great leverage for gold trading (1:500) and I am a gold trader. So far, they have been providing me with great service and quick withdrawals. I also regularly participate in their trading contest and was among the prize-winners. I was skeptical, but they actually deliver the price. To me it's the trustworthyness that count.

Louise Pratcher
Ukraine Jan 11 2022

I just found out that FXOpen has a forex article contest. How can one participate and how long will this contest held?

CharlesX545
Singapore Dec 31 2021

Hi, I'd like to ask about this.

is this commission-free trading a lifetime thing or is it just during seasonal promotions? If it just a seasonal promotion, how long it will last?

ask

Freedobby
United States Dec 17 2021

One thing I really like about this broker is that they have multiple accounts including ECN and STP. They also have flexible withdrawals and funding options, which is a plus for me.

Elaine
Switzerland Dec 8 2021

I really like their platform, it's really easy to understand for me. It's great that they have low spread account of STP or ECN.

Emilio
Taiwan Nov 26 2021

10/10! I was new to trading and this broker have a personal training program set up to help people like me. My account manager help me through set up my account and I've learned a lot.

Kathleen
South Africa Nov 26 2021

What I like the most about this broker is their trading options and the diversity of accounts. They have a competitive spread for STP account and almost no spread for ECN account which is always great. Think I'll continue using this broker for a while.

Moses
Nigeria Nov 22 2021
Account Number: (XX08FXPNXXP9363410xxx)

I grew my account from 19usd to 80usd and tried to withdraw the 80usd via an Atm card, but FXOpen refused to pay me even after deducting the money from my main wallet. It's been past the so-called "5 business days" they said I should wait for, not to talk of the rigorous "verification" process they put me through when I tried withdrawing via the same Atm card I used in making deposits numerous times. They always deducted the money almost instantly whenever I made a deposit, but when it came to making withdrawals, they put a chain on my neck. I have forfeited the money knowing full well that the name "FXOpen" will always ring "SCAM" in my ears. The funny thing is that most of the reviews on this site are by their employees. That's how low they stoop.

Betty Dawson
Canada Nov 17 2021

I would recommend FXOpen to anyone for their customer service itself, they treat me with respect and really care about my needs.

Klein
Taiwan Nov 8 2021

The only problem I have with this broker is the high spread. It's not really good for scalpers, but the other feature is fine. They have competitive commission fee

Klein
Pakistan Nov 8 2021

The only problem I have with this broker is the high spread. It's not really good for scalpers, but the other feature is fine. They have competitive commission fee

VincentBerry
Taiwan Oct 27 2021

I like trading condition in FXOpen. The spread for five-digit quotes on STP Account is only from 10 to 30 pips which works great for me.

Treeth
Singapore Aug 31 2021

Are you STP? What liquidity provider is there?

Paul
United States Aug 24 2021

Can I trade with the same account Fxopen Uk and the existing one like AU ? Or do I need a separate account?

FXOpen Support

Ukraine Aug 25 2021

Dear client,

To trade with our brands, FXOpen UK and AU you have to open a separate account. If you have more questions, please write them to our Support Services.

Regards, FXOpen team.

Niklees
Netherlands Jul 27 2021

Do you offer free contests?

FXOpen Support

Singapore Jul 29 2021

Niklees: Dear clients. All updated information and current happening can be seen at our forum, please follow the link

https://forum.fxopen.com/forums/282-Forex-contests

You can see their free contests happening and much other stuff happening in some native languages. Feel free to write there for efficient and faster response.

Regards, Fxopen team.

Aji
Indonesia Jun 20 2021

In Indonesia, is there any FXOpen marketing that can guide me to trade there? I can't speak English.

Dilan

Indonesia Jun 21 2021

Aji: Please contact IB FX Open Indonesia here and here. Or you can also contact the FX Open trader community on Facebook.

Emmett Brown
Turkey Apr 7 2021
Account Number: (5678xxx)

People have been asking me about FXOpen, so I guess I'll try to write a review about them. I have been trading with this company for more than one year. So far, they have proven themself to be a good and reliable broker among others that I have tried before. Right now, I have 2 ECN accounts with 5 and 6 digits balances. I think that the commission rate, platform, speed everything is good. You can say that this broker is suitable for new traders, or everyone who basically doesn't want to spend too much money on trading. This company doesn't have 24/7 online services, which means help is available to you all the time.

Julius Helge
India 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
United States Jul 23 2020

Great FXopen VPS service, so fast!

Katharina S
United States 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
Singapore 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
Pakistan Jul 23 2020

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

Jayadi Adhie
Ukraine 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
United States 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
Taiwan 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
Nigeria 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
Nigeria 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
Australia 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
United States 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
Pakistan 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
Canada 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
Canada 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
France 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
France Jul 23 2020

Advisor Noobs
Ukraine 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
Canada 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
United States 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
United States 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
Nigeria Jul 23 2020

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

Jamil
Ukraine 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
France 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
Canada 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
Malaysia Jul 23 2020

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

Yanny
Canada Jul 23 2020

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

Pangestu
Indonesia Apr 17 2020

I'm still a bit confused about choosing a broker. I am interested in FXOpen which has a small minimum deposit for ecn accounts. My questions:
1. Is there any difference between FXOpen UK and FXOpen broker in Indonesia?
2. Is the IB also regulated by the same regulator as the UK broker?

3. Which one should I choose? fxopen uk or fxopen indonesia?

Jackson

United States Apr 18 2020

Pangestu: There must be a difference between registering a broker directly with a prime broker (Prime Broker) and registering through an Introducing Broker (IB) / White Label (WL). The most striking difference is of course the amount of spread and swap/commission fees that apply. If you use an official IB from a Prime Broker, then of course the regulatory status also follows the regulations of the Prime Broker. Depends on your choice. You can choose to directly register with Prime Broker to get and service directly without intermediaries and restrictions. Or prefer to register through an IB to get convenience in payment (deposits/withdrawals) and customer service (customer service), because surely the local IB provides a choice of payment options through local banks for the convenience of their customers. As long as you use an official IB service from Prime Broker, I think that in terms of security, they are both safe and trustworthy.

Laurence Robbins
Nigeria Apr 7 2020
Account Number: (55678xxx)

I'm very disappointed with FXopen. I tried to withdraw my money from them because I generate good profit and well because it's MY money. But it's just very hard, it's as if they don't want to give me my profit at all. I talked to their customer service but they don't help me at all. After several unsuccessful attempts, I decided to make an official complaint about it. Finny enough, they suddenly started processing SEPA withdrawals. However, debit card withdrawals are still not possible with them. The information on their deposit and withdrawals options is still not 100% accurate. I don't know if it's just my country or any other country as well.

Hugo Cain
India Dec 12 2019
Account Number: (4467xxx)

I truly wish that FXOpen will have more deposit and withdrawal options for other traders. Especially someone who has trust issues like me. I tried to withdraw to my bank account but it is not possible, I don't understand. Aside from that, I don't think they are problematic at all. In fact, I am actually quite like their trading conditions. Spread, commissions, all good and very accomodating for someone like me. Customer service is super nice too, they are always there for the clients anytime they need them.

Dave Parsons
Germany Sep 17 2019
Account Number: (89890xxx)

FXOpen is one of the best in its class, here are the reasons why I keep coming back to them.

Low spread, it's not the lowest perhaps but they are trusted and regulated, so it's safer.

Reasonable commissions and great quality of trading service make their price seems cheap.

Deposit and withdrawal are super smooth. Sometimes withdrawal is processed within 20 minutes, sonic speed!