Review FXOpen and Profile Broker

Review FXOpen and Profile Broker

At the first time, FXOpen broker was established as a center for financial market technical analysis education in 2003.

Its brokerage services were only launched in 2005, but immediately became the leading choice of traders, offered forex and CFD.

They offer trading services with low capital, transparent trading conditions, and superior Customer Support. this broker is different from FXCM.

Because their achievements, FXOpen successfully won various global scale awards

In 2006, FXOpen was the first broker to offer micro accounts and swap-free accounts. After that, he continued to pioneer a number of new and high-tech services, including the first Crypto account that could facilitate trading on 24 Cryptocurrency pairs, including Bitcoin, Litecoin, and Ethereum. Reaching the age of 13 in 2018, FXOpen brokers have served more than 1 million customers in 100 countries.

Information on FXOpen Brokerage Companies

Broker Name Type Broker Website Company Established
FXOpen ECN/STP www.FXOpen.com FXOpen Market Limited 2005
Regulator Payment System Expert analyst Partnership Program Support Language
FXOpen Markets Limited registered on Nevis (No. C 42235), FXOpen UK regulated by the British FCA (No. 579202), FXOpen AU Pty Ltd regulated by ASIC Australia (AFSL 412871-ABN 61 143 678 719) Bank Wire, Credit card, E-Payment (Webmoney, Neteller, Skrill, Perfect Money, Fasapay), and Cryptocurrency (Bitcoin, Namecoin, Litecoin, Ethereum, Tether) Available Available Email, telephone and live chat on the FXOpen website Indonesian, Malay, English, Mandarin, Arabic, etc.

Trading Conditions at FXOpen Brokers

Platform Trading Instrument Trading Account Type Spread Minimum Deposit Account Currency
MT4 and MT5 for PC, Web, and Mobile. 50 currency pairs, CFD, gold, and silver Micro, STP, ECN, and Crypto (see more here) Floating Spreads start from 0 pips USD1 (Micro account), USD10 (STP and Crypto account), USD100 (ECN account) USD
Leverage Minimum Lot size Commission Free Swap Account Hedging Scalping Expert Advisor
Up to 1: 3 (Crypto account), or up to 1: 500 (Micro, STP, ECN) 0.01 (a micro lot) Commission-free (Micro and STP), USD15 commission per 10 standard lots (ECN account), or 0.5% commission on trading volume of Crypto accounts. available for Micro, STP and ECN accounts. Allowed Allowed Allowed

Benefits of Trading at FXOpen

There are several benefits for the trader if they joined with FXOpen

  • ForexCup Trading Contest. FXOpen brokers offer weekly and monthly trading contests on demo accounts through the ForexCup.com site. Traders can join in competitions that are free of charge to hone their trading skills. For traders who want greater challenges, there is also a trading contest on Real accounts.
  • Cashback Program. Traders get benefit from the FXOpen Cashback Program during the first 90 days of registration as a new client. For old clients, this program is available for 90 days from joining. The minimum cashback is USD5 and the maximum value is USD1,000. To get FXOpen Cashback, you only need to register with the following link.
  • Free VPS. Free VPS is available for ECN, STP and Crypto account owners. Traders can use FXOpen VPS for free for 1 month if they maintain equity of USD 5000 at the end of the month or trading volume of USD 10,000,000 (per one calendar month). The advantages of FXOpen Forex VPS are accessibility, flexibility and excellent speed.

Advantages of FXOpen Brokers

    • ECN accounts from FXOpen brokers Get Quotations of Prices Directly from Featured CompaniesTraders who join ECN accounts from FXOpen brokers will get price quotes directly from leading liquidity provider companies. These include  SG Paris, Standard Chartered, Dresdner, Barclays Capital, Bank of America, CRNX, JP Morgan, Deutsche Bank AG, RBS, Morgan Stanley, Citi, and UBS. This is one of the reasons why FXOpen ECN accounts are a favorite of trader
    • Mirror Trading FacilityTraders at FXOpen brokers can do Mirror Trading by connecting accounts directly to the Myfxbook AutoTrade network or doing Copy Trading via ZuluTrade. Both of these services allow anyone to replicate the transactions of more experienced traders, so it is possible to replicate their trading results.
    • Withdrawal Deposit Activities Are Relatively Smooth Without Many ComplaintsBased on experience and information after more than 10 years FXOpen brokers have operated there have been no major complaints about payments (deposits or withdrawals). However, there are minor complaints such as slow servers, requotes, lags, and the like.
  • Easy registration at FXOpenThe registration system at FXOpen can be done easily. That is, just fill in the form on the Register menu on the FXOpen website. But as usual, you will be asked to verify the document first if you will make a deposit or withdrawal of funds later.

Conclusion

Features that help FXOpen maintain superiority over brokers with the MT4 platform compared to others, excluding competitive spreads on their ECN accounts, including offering cryptocurrency accounts, PAMM systems, and social trading platforms offered.

In addition, brokers offer various types of accounts, low minimum deposits, and various foreign currencies and CFDs. FXOpen can be a suitable alternative for brokers who need a higher minimum in all types of accounts, including for high-volume traders who need a large deposit to qualify for active trader accounts.

In addition, traders must always remember that FXOpen does not provide much research and provides an overall trading experience (thinking platform, tools) that is ranked at the bottom of the industry.

You still need to re-examine to get a review of other sources of information, because if measured, the broker’s service level is at number 76 overall rating, although in my experience with FXOpen so far so good but there are some negative experience from another trader, you can visit review FXOpen

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