FXOpen Review

FXOpen

5.6

Assets choice

4.8/10

Performance

7.7/10

Deposits & Withdrawals

2.2/10

Client support

9.0/10

Pricing

4.4/10

It was founded in 2003 as an educational center. Provides brokerage services since 2005. The broker offers to trade with currency pairs; CFD’s for stock indices, energy; precious metals, cryptocurrency.

Regulation. FXOpen is a group of companies. FXOpen Ltd. is authorized and regulated by the Financial Conduct Authority (FCA). FXOpen AU Pty Ltd. is registered in Australia and regulated by the Australian Securities and Investments Commission (ASIC).

Trading accounts FXOpen

FXOpen provides with 4 types of trading accounts.

Micro. The minimum deposit for opening an account is from 1 USD. Among trading instruments: 28 currency pairs, precious metals. Floating spreads. No commission fee. Instant execution.

STP. The minimum deposit for opening an account is from 10 USD. Among trading instruments: 50 currency pairs, precious metals. Tight spreads and leverage up to 1:500. No commission fee.

ECN. The minimum deposit for opening an account is from 100 USD. Among trading instruments: over 70 currency pairs including CFDs. Raw spreads and leverage up to 1:500. There is a commission.

Crypto. The minimum deposit for opening an account is from 10 USD. Among trading instruments: 43 crypto pairs. Floating spreads and leverage up to 1:3. There is a commission.

Trading platforms

Trading is carried out on the Metatrader 4 platform. Mobile trading is also available. There are applications for Android and iOS. There is an opportunity to trade in the browser through Web Trader. Broker also provides MetaTrader 5 for the ECN trading accounts.

For autotrading, traders at FXOpen use ZuluTrade and Myfxbook.

Deposit and withdrawal of funds

Deposit and withdrawal  can be made by one of the following options:

  • Bank wire transfers;
  • Credit/debit cards;
  • Electronic payment systems: Webmoney, Neteller, Skrill, Perfect money and others.

In addition, a number of local transfers are available, as well as FXOpen Prepaid Cards.

Additional features

For investors, FXOpen offers PAMM accounts. Traders can connect to the PAMM ECN, STP or Crypto and make a profit from the transactions of the money manager. Money managers are ranked by trading results and other criteria.

On the site, you can also find the following widgets: the quotes table, real-time real spread comparison, market depth. There is a trader’s calculator, Forex calendar, news and analytics.