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FXOpen Verified Reviews from Actual Traders

Written by on 13 March 2024

This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. The currency rates calculator can show you exact currency conversion rates which can be useful when depositing or transferring between FXOpen accounts.

Deposit and Withdrawal Fees

All of the desktop version capabilities are available in the WebTrader terminal, which is compatible with all major desktop browsers. According to statistics, Metatrader 4 accounts for over 90% of all order executions on the retail Forex market. Many thanks for taking the time to leave a review, we’re delighted to see you find the service excellent and will be sure to pass your positive comments onto our Customer Support team. Thank you for taking the time to leave a review Abdeslam Kabach, we appreciate your feedback and are delighted you’re happy with the service. As mentioned, FXOpen is authorized and regulated by the FCA, CySec, and ASIC, three well-known regulatory bodies. It is also a member of the Financial Commission, an organization with which some traders may not be familiar.

Great reliable platform

I personally would start on a demo first before funding a real account with a new broker. This is because I like to get a feel for the trading conditions to see if they are suitable before making a financial commitment. There is a very wide selection of 70+ FX currency pairs including majors such as the EURUSD & GBPUSD, minors and exotics. If you plan on trading forex using strategies that require the lowest spreads at all times, XM Group have spreads from just 0.0 pips on major currency pairs. MetaTrader 4 & 5 are available to install on your iOS or Android devices. I find the trading apps useful especially if you would like full control over your account and to trade the markets on the go from anywhere at any time.

Use the service for decade

  1. ✅You will be transferred to the e-Wallet service to confirm your withdrawal.
  2. The online terminal may be accessed via the FXOpen website.
  3. You can learn how you may profit from the world’s most successful traders’ experience, knowledge, and talent.

Notably reliable and stable, this feature-rich platform aids novice and seasoned traders seeking precision in their trade-related activities while ensuring maximum efficiency. Yes, They provide two-factor authentication (2FA) for customer accounts, adding extra protection against illegal access. The broker implements various security measures to ensure the safety of its client’s assets and personal information. A crucial feature in the security framework is its utilization of segregated accounts.

I have found them to be an excellent…

Over the years I’ve been with them I’ve done all the normal stuff like loosing my passwords and getting into difficulties with indicators and robots and all that stuff. I’ve rang them loads of times and they’ve sorted me out no problem. It’s all there on their website, all the technical stuff about ECN brokers and the reasons why that approach makes good sense, knock yourself out.

Similar to numerous brokers, they charge a fee when exchanging money from one type of currency into another. Maintaining active accounts becomes evident from these fees and can be a deciding factor for traders who trade infrequently. Therefore, adequately tracking your account’s activity could help evade such expenses. If your trading account is inactive, you must know the inactivity fines.

FXOpen were one of the first online brokers that I had an account with many years ago and remain one of the most popular until this day. They are a regulated ECN broker offering you some of the best possible trading conditions with low spreads, fast trade execution speeds and competitive commissions. You can get access to user-friendly trading platforms for web, desktop and mobile devices. They enable you to trade hundreds of instruments across multiple asset classes and have a range of convenient account funding options for you to choose from. The impressive range of services include trading accounts, trading platforms, managed accounts, analytical tools, trading signals, free VPS, convenient funding and excellent customer service. I have never had any issues when it comes to trading or funding with them, plus the regulation gives me comfort that my funds are safe.

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. For STP account, the lowest scammed by xcritical 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. In 2006, FXOpen also became the first broker to offer a micro account and a swap-free account.

FXOpen’s price aggregating technology combines this liquidity to provide the best prices, real variable market spreads from just 0 pips and seamless order execution. Thank you for taking the time to leave a review, we are delighted you are enjoying your experience trading with FXOpen INT. Within the companies operating under the FXOpen brand, each entity has its own set of deposit and withdrawal methods, with many of them being commission-free. 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. The Demo Account presents a secure avenue for traders, regardless of expertise level, to hone their trading techniques sans risk.

When we used FXOpen’s platforms, we were pleased with the relevant device compatibility. All terminals can be used directly through major internet browsers as a webtrader, downloaded to desktop devices or used via mobile apps. FXOpen is a good, reliable all-round broker with competitive pricing that will especially suit high-volume traders who can benefit from fee discounts. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews.

In semi-retirement / lockdown, I decided to learn to program again, and came across the MQL4 programming language. I’ve now deployed my first trading Bot, and I’m thoroughly enjoying the challenge. FXOpen have provided a stable, low cost MT4 trading platform and good customer service.

It is very important to note that past signal performance is by no means a guarantee of future performance. You can use the commission calculator to get instant commission calculations per half-turn or per round-turn for any FX currency pair or metal. You can specify the lot size you want to work out the commission for and click individual currency pairs for the detailed formulas behind the calculations. FXOpen Markets Limited is a legally registered entity located in Saint Kitts and Nevis, but is not regulated by any government agency.

However, there is a $30 fee that you will be charged to cover the cost of the VPS if you do not meet the requirements but are using the free VPS. For increased speed the VPS is cross-connected to the FXOpen servers. If a VPS is important for your trading, you can get access to a free VPS from other brokers, including Switch Markets. FXOpen has an execution quality certificate from Verify My Trade that compares 5,000 trades per month against a benchmark of other brokers and liquidity providers. They have satisfied and continue to maintain execution quality standards. I can say from experience that I have always received good execution on my trades, even when scalping during hours of low liquidity.

The STP trading account has the benefits of ECN real market execution with a starting deposit of just $10, compared to $100 on the FXOpen ECN account. There is no commission charged on this account type although spreads will tend to be higher. I really like the minimum deposit requirement as this is really lower than the industry average of around $200. Whilst primarily being a forex broker, FXOpen offer trading instruments in multiple markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs. However, I found them to be lacking in stocks when compared to competitors. For example, TMGM have a superb selection of more than 15,000 global stocks for you to trade, putting them amongst our best stock brokers.

On Straight Through Processing (STP) accounts there is no separate commission to payas it is already included in the spread. This account is ideal for novice traderslooking to keep pricing simple. Once verified, fund using our multiple funding options and starttrading with spreads from 0.0 pips. TickTrader is our new technologically advanced multi-asset trading platform forthe most demanding of traders. Enjoy low cost trading with spreads from 0.0 pips and commission from $1.50 per lot. Our ECN accountis the most cost-effective form of FX trading, with no fixed spreads or additional pips added.

It uses real time quotes and your accounts equity / leverage to determine calculations. I like how the web version of MetaTrader allows you to trade directly from your web browser without needing to install or run any additional software. The MetaTrader 4 web trader has the familiar interface of the desktop MetaTrader 4 terminal and supports all modern web-browsers and operating systems including Windows, Mac OS and Linux.