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Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

FXOpen Review

3.65
13 reviews
PAYMENT SYSTEMS
  • Deposit
  • Withdrawal

FXOpen general information

Founded in: 2005 year
Headquarters:
New Zealand
Offices in the country: Russia, Saint Kitts and Nevis
Minimum Deposit: 1 $
Website: www.fxopen.com
Website languages:
English, Arab, Indonesian, Spanish, Chinese, Malay, Deutsch, Persian, Portuguese, Russian, Thai, Turkish, Ukrainian, French
Execution model:
ECN, STP, MM
Deposit currency:
USD, EUR, JPY, GBP, RUB, AUD, CHF, SGD
Support languages:
English, Arab, Indonesian, Spanish, Chinese, Malay, Deutsch, Persian, Portuguese, Russian, Thai, Turkish, Ukrainian, French
Regulated by:
ASIC (Australia) license №AFSL 412871 – ABN 61 143 678 719
FCA (United Kingdom) license №579202
Mobile trading: iOS, Android
Types of offered accounts:
Unlimited Demo Accounts, ECN accounts, STP accounts, Micro accounts
Trust management: PAMM
Autotrading: Zulutrade
Affiliate program: Yes
Deposit bonus: 1 %
Welcome Bonus is credited to the micro account after making the minimum deposit.
Size of no-deposit bonus: 10 $
The bonus can be obtained after opening an STP account. Mandatory SMS verification. You must also register your FXOpen (eWallet) e-wallet

FXOpen Forex broker description

FXOpen is forex broker that has been in the business since 2005 with its headquarters in New Zealand. Experience in the trade has made it expand to other territories and gaining more clients in this.

Trading Accounts        

For one to be able to execute trades with FXOpen, he or she will need to sign up for a valid account. FXOpen offers various account types with different specifications to meets each client’s respective needs. The accounts are the micro account, the STP account the crypto account and the ECN account

The Micro Account

This is an account type specially made for traders who do not want to stake much into their trade executions. Its features are as follows:

  1. Floating spreads.
  2. No commissions are charged at all.
  3. Minimum lot size is 0.1 micro lot.
  4. Minimum deposit of $1
  5. Allows hedging.
  6. Instant mode of execution.

The STP Account

This trading account will give the trader the benefits of a real ECN market. Its features include:

  1. Minimum deposit of $10.
  2. Base currencies used are the United States dollar, the Great Britain pound and the Japanese yen among others.
  3. No commissions are charged at all in this account type.
  4. Leverage of up to 1:500.
  5. Allows for scalping and hedging.

 The Crypto Account

The crypto account will allow you to execute trades using cryptocurrency units. Its features are:

  1. Uses the Great Britain pound, the United States dollar, the Japanese yen and also the bitcoin, ethereum, litecoin, and dash.
  2. Floating spreads.
  3. Commissions at 0.5% half turn.
  4. Minimum deposit of $10.
  5. Leverage at 1:3.

The ECN Account

The ECN account is a special account type that will let you connect to other participants of the forex market that is the banks, financial advisors and other brokers.

The features of the ECN account are:

  1. It uses the United States dollar, the Australian dollar, the euro, and the Great Britain pound among other currencies as its base currencies.
  2. Minimum deposit is 100 units of your respective currency unit.
  3. A commission is charged at $1.5 per standard lot of $100000.
  4. Market type of execution.
  5. Leverage of up to 1:500.
  6. Allows for scalping and hedging.

About The Company and Security Of Funds.

The company was established in New Zealand in 2005 and the over a decade stay in the forex business has granted it the expertise and necessary skills to wade through this business. With its resiliency, FXOpen has managed to become a global brand with a presence in many countries worldwide and still it is expanding. Its expansion has forced it to adapt to changes and now has integrated various languages into its website for use by its many clients of different cultures.

With its many clients, it was a necessity that FXOpen to have the best workforce that will provide the necessary assistance to this client base. And in their resilient nature, they have invested in the best and qualified staff that is dedicated to serving and answering individual customer queries. Occasionally this personnel will offer advisory services to the clients on the execution of trades in a bid to improve their overall experience in dealing with FXOpen.

The company has licenses from the various countries it operates from and has been granted by the relevant regulatory bodies in these regions. These regulatory bodies demand some measures to be upheld and among them is the safety of clients' funds entrusted to them. In keeping up with this regulation, FXOpen has put up the following measures for the safety of clients’ monies
.

  1. Use of segregated bank accounts to separate clients' funds from the company's operating funds to prevent mix-ups.
  2. Using the services of credible and legitimate banks to bank these clients’ funds.
  3. It is a member of a compensatory scheme that will come to pay up clients monies in case of liquidation.
  4. Among the regulatory bodies that have given FXOpen a clean pass to operate include the following:
  5. A license to operate in the united kingdom by its regulatory body, the financial conduct authority (FCA).
  6. A license to operate in Australia by the Australian securities and investments commission (ASIC).

Trading Conditions

Minimum Initial Deposit

The minimum initial deposit is at $1 which is affordable. This is for the micro account.

Leverages

Leverages can go up to 1:500

Margin Call

The margin call is at 100%

 

Trading Platforms

FXOpen in a bid to have its many clients to have a hassle free trading experience, it has invested in some of the best trading platforms with superb features that will make trade execution worthwhile. FXOpen has the Meta trader4 and the Meta trader5 trading platforms.

The Meta Trader4 Trading Platform

This advanced trading platform comes with the following features.

  1. Allows for manual trading.
  2. Allows for automated trading.
  3. Has advanced trading and charting tools at your disposal.
  4. Has 50+ charting tools and indicators.
  5. Supports all types of execution in markets, instant, and execution upon request.
  6. Has its mobile, web and desktop versions.
  7. The Meta Trader5 Platform

The Meta trader5 platform is a platform that has exploited the advancements in technology to come up with awesome features for its platform. Its features are:

  1. Trading flexibility.
  2. Allows for mobile and web trading.
  3. It has an awesome e collection of analysis tools.
  4. Has the MetaTrader market where you can find superb trading robots and indicators.
  5. Has trading signals.
  6. Allows for algorithmic trading.

Promotions

FXOpen runs promotions on its website in a move to improve its customer relations. The following are the promotion currently running on their website.

  1. The no deposit bonus for STP accounts.
  2. The welcome bonus after paying the minimum deposit for the micro account.
  3. The forexcup trading contest bonus.

Withdrawals And Deposits

There are many modes available through which you can fund your account as well as withdraw them. These modes include bank wire transfers, local bank transfers, credit and debit cards, prepaid card and cryptocurrencies. You will incur some fees when transacting with all of these mods.

BRIEFLY ABOUT FXOpen

This is a very credible trader that know what to craft for its clients located all around the world. FXOpen customer comments and reviews show it to be very popular among its clients and are a recommendable trader for anyone seeking to join the trade.

Trading accounts of FXOpen

  • Crypto
  • Micro
  • STP
  • ECN
Trading platforms: MetaTrader 4, Meta Trader 4 Mobile
Minimum Deposit : 10 $
Deposit currency :
USD - US Dollar
EUR - Euro
JPY - Japanese Yen
GBP - British Pound
RUB - Russian Ruble
Trading instruments:
Forex1:3
Number of currency pairs: 12
  • BTC/CNH
  • BTC/EUR
  • BTC/JPY
  • BTC/RUB
  • BTC/USD
  • LTC/CNH
  • LTC/EUR
  • LTC/JPY
  • LTC/RUB
  • LTC/USD
  • NMC/BTC
  • NMC/USD
Cryptocurrencies
Stop Out:
15 %
Minimum position size:
0.01 лотов
Max. number of orders:
Execution type:
Market Execution
Swap Free:
Not
VIP Account:
Not
Spread type:
Floating
Decimal places:
5 characters
Margin Call:
30 %
Commission:
for maintaining an inactive account 10 USD per month
Phone trading:
Yes
Trading platforms: MetaTrader 4, Meta Trader 4 Mobile
Minimum Deposit : 1 $
Deposit currency : USD - US Dollar
Trading instruments:
Forex1:500
Number of currency pairs: 19
  • AUD/GBP
  • AUD/JPY
  • AUD/NZD
  • AUD/USD
  • EUR/GBP
  • EUR/JPY
  • EUR/USD
  • GBP/AUD
  • GBP/CAD
  • GBP/EUR
  • GBP/JPY
  • GBP/NZD
  • GBP/USD
  • NZD/CHF
  • NZD/EUR
  • USD/CAD
  • USD/CHF
  • USD/RUB
  • USD/SGD
Metals1:500
  • Gold
  • Silver
Stop Out:
10 %
Minimum position size:
0.1 лотов
Maximum position size:
1000 лотов
Max. number of orders:
100
Execution type:
Instant Execution
Swap Free:
Not
VIP Account:
Not
Spread type:
Floating
Decimal places:
5 characters
Margin Call:
20 %
Commission:
за поддержание неактивного счета10 USD в месяц
Phone trading:
Yes
Trading platforms: MetaTrader 4, Meta Trader 4 Mobile
Minimum Deposit : 100 $
Deposit currency :
USD - US Dollar
EUR - Euro
JPY - Japanese Yen
GBP - British Pound
AUD - Australian Dollar
CHF - Swiss Franc
RUB - Russian Ruble
SGD - Singapore Dollar
Trading instruments:
Number of currency pairs: 50
  • AUD/CAD
  • AUD/CHF
  • AUD/EUR
  • AUD/JPY
  • AUD/NZD
  • AUD/USD
  • CAD/CHF
  • CAD/JPY
  • CHF/JPY
  • EUR/DKK
  • EUR/GBP
  • EUR/HKD
  • EUR/JPY
  • EUR/NOK
  • EUR/NZD
  • EUR/PLN
  • EUR/SEK
  • EUR/TRY
  • EUR/USD
  • GBP/AUD
  • GBP/CAD
  • GBP/CHF
  • GBP/JPY
  • GBP/NZD
  • GBP/SGD
  • GBP/USD
  • HKD/JPY
  • NOK/JPY
  • NOK/SEK
  • NZD/CAD
  • NZD/CHF
  • NZD/JPY
  • NZD/SGD
  • NZD/USD
  • SGD/JPY
  • USD/CAD
  • USD/CHF
  • USD/CNH
  • USD/DKK
  • USD/HDK
  • USD/JPY
  • USD/MXN
  • USD/NOK
  • USD/PLN
  • USD/RUB
  • USD/SEK
  • USD/SGD
  • USD/TRY
  • XAG/USD
  • XAU/USD
Stop Out:
30 %
Minimum position size:
0.01 лотов
Max. number of orders:
Execution type:
Market Execution
Swap Free:
Yes
VIP Account:
Not
Spread type:
Floating
Decimal places:
4 characters
Margin Call:
50 %
Commission:
Not
Phone trading:
Yes
Trading platforms: MetaTrader 4, Meta Trader 4 Mobile
Minimum Deposit : 100 $
Deposit currency :
USD - US Dollar
EUR - Euro
JPY - Japanese Yen
GBP - British Pound
AUD - Australian Dollar
CHF - Swiss Franc
RUB - Russian Ruble
SGD - Singapore Dollar
Trading instruments:
Forex1:500
Number of currency pairs: 50
  • AUD/CAD
  • AUD/CHF
  • AUD/EUR
  • AUD/JPY
  • AUD/NZD
  • AUD/USD
  • CAD/CHF
  • CAD/JPY
  • CHF/JPY
  • EUR/DKK
  • EUR/GBP
  • EUR/HKD
  • EUR/JPY
  • EUR/NOK
  • EUR/NZD
  • EUR/PLN
  • EUR/SEK
  • EUR/TRY
  • EUR/USD
  • GBP/AUD
  • GBP/CAD
  • GBP/CHF
  • GBP/JPY
  • GBP/NZD
  • GBP/SGD
  • GBP/USD
  • HKD/JPY
  • NOK/JPY
  • NOK/SEK
  • NZD/CAD
  • NZD/CHF
  • NZD/JPY
  • NZD/SGD
  • NZD/USD
  • SGD/JPY
  • USD/CAD
  • USD/CHF
  • USD/CNH
  • USD/DKK
  • USD/HDK
  • USD/JPY
  • USD/MXN
  • USD/NOK
  • USD/PLN
  • USD/RUB
  • USD/SEK
  • USD/SGD
  • USD/TRY
  • XAG/USD
  • XAU/USD
CFD's1:500
Amount of assets : 70
  • Promotions
  • Indices
  • Products
Metals1:500
  • Gold
  • Silver
Energy sources1:500
  • Oil
  • Gas
Stop Out:
50 %
Minimum position size:
0.01 лотов
Max. number of orders:
Execution type:
Market Execution
Swap Free:
Yes
VIP Account:
Not
Spread type:
Floating
Decimal places:
5 characters
Margin Call:
100 %
Commission:
1.8-2.5 units of base currency (per lot)
Phone trading:
Yes

Contacts of FXOpen

Headquarters
Новая Зеландия , ОклендХай-стрит, 5
show on the map
+64 9 801 0123Локальный телефон
Представительство
Россия , МоскваПресненская набережная, 12
show on the map
8-800-555-9494Горячая линия+7 (499) 346 0960Локальный телефон+7 (495) 646-38-24Локальный телефон
Представительство
Украина , Киевулица Жилянская, 58
show on the map
+380 50 644-00-94Локальный телефон+380 93-161-95-98Локальный телефон
Представительство
Молдова , КишинёвУлица Петру Мовилэ, 23/9
show on the map
+373 (22) 22-10-66Локальный телефон

Recent customer reviews of FXOpen

Sam Wilde 29 June 2020

Advantages: .

Disadvantages: .

Comment: I will advice any trader to be careful when choosing a broker to invest with by always making sure they are regulated. I invested with a broker that made withdrawal impossible and there was nothing i could do until i contacted the agent Mr Bart Kasch who helped me recover my money. It felt satisfying to finally have my investment back, you can reach him at BartKasch AT Affiliaterecovery DOT com if you need help

Comment
Add a COMMENT
Dan Lancelot 17 April 2020

Advantages: I got my money back

Disadvantages: Nil

Comment: Investment fraud is growing hugely and I advice the public to stay away from these fraudulent companies. For those who are victims to this scams like myself, I strongly recommend you to approach an Ethical Hacker. I invested almost $270000 and was unable to get my hard earn money back from an unregulated company that kept demanding for more deposits. WolfpackHackers has successfully recovered investment for their clients. I have hired them as well and they did not disappoint, they recovered all of my money at no upfront cost. If you are also a victim, Contact them via mail;;; admin 'AT' wolfpackhackers 'DOT' com

Comment
Add a COMMENT
Kellet Janet 07 April 2020

Advantages: Knowing limitations

Disadvantages: Be careful while investing

Comment: Warning to everyone with the plan of investing in any online investments schemes .There are certain limitations to investing in these schemes and also difficulties getting it tripled after a long while since 60% of these online investments schemes are scammers . I got involved with a company called "CryptoNXT" trading cryptocurrency but before I engaged with them, I mentioned to my account manager(Ross Malone) assigned to me by CryptoNXT, at one point about my dilemma with Click’s Dealer. He said it was absolutely a scam and he even knew some of the names of people I had dealt with. He said their web site, "Clicksdealer", was a fraud and that my only hope was to try through Chase to get my money back Not knowing My experience with CryptoNXT Account manager Ross Malone would be a terrible experience for me. I started with an Initial sum of $300, this got me some trades winnings and a huge profit but at the end of it all, I ended up at the losing ends. I ended up losing all my hard earned savings, 180,000 USD which was meant to sustain me when I'm retired. I don’t know if I have a leg to stand on here. I am sure that somewhere along the line I agreed to Terms and Conditions which usually state that investing is a risk and there are no guarantees as to the outcome of my investments with them. Maybe that lets them off the hook. I just know I was lied to about the performance of my account every time they called asking for more money. The whole thing took a wrong turn right in my presence. I had cold foots immediately they pulled a fast one on me that i lost my funds to bad trades. I made a promise to myself to try every avenue I can to get back this money, though I think the odds are pretty slim, I saw some Good reviews of WWW  RAPIDASSETRECOVERY  COM ; A Consultancy And Recovery Firm that has helped certain victims get a refund from these Unregulated brokers. I decided to use them and all I can say is contacting them was the best decision I made all my lifetime. These scams will keep going on and on for a very long time. We can only do some good to ourselves by getting some enlightening on how to point them out. Be safe out there everyone.

Comment
Add a COMMENT

FXOpen bonuses, contests and promotions

All bonuses, promotions, contests FXOpen
Offer type : Promotions(until 01.01.2019)
Cashback Program - FXOpen

Trade Forex and get cashback from FXOpen regardless of the results of your trades. The minimum cashback that you can get is $5, while the maximum is ...

Offer type : Bonuses(until 01.01.2019)
$1 Deposit Bonus - FXOpen

A $1 can go a long way in Forex as long as you use the right leverage. FXOpen is giving away $1 when you make a deposit. The bonus is paid only once ...

Offer type : Bonuses(until 01.01.2019)
STP Accounts No Deposit Bonus - FxOpen

No funds for initial deposit? Worry no more! FxOpen is offering a no deposit bonus for STP accounts. The promo fits those who have only limited funds ...

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Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.