- Leverage: 1:30
- Regulation: FCA, CySEC, And ASIC
- Min. Deposit: $10
- HQ: United Kingdom
- Platforms: MT4, MT5 And TickTrader
- Found in: 2003
FXOpen Licenses
FXOpen EU Is Authorized And Regulated By The Cyprus Securities And Exchange Commission (CySEC) And Holds A Cross Border License, Authorizing The Company To Provide Services To All European Union Member States.
FXOpen Started As An Educational Center Offering Courses Within Financial Markets. In 2005, A Group Of Traders Turned The Company Into A Global Brokerage With Offices In The UK, Russia, New Zealand, And Australia.
Today, The Broker Offers Services To Over 1 Million Traders Worldwide Including Canada, Germany, Vietnam And Nigeria. It Is Now One Of The World’s Leading And Fastest-growing Forex Brokers Providing Attractive Trading Conditions, Fast Order Execution Plus Access To The Industry’s Most Advanced And Innovative Technological Solutions, Including Four Leading Trading Platforms.
Regulation Varies By Trading Entity. UK Investors, For Example, Will Trade Under The FXOpen UK Subsidiary, With Oversight From The Financial Conduct Authority (FCA). European Traders Will Be Registered Under The FXOpen EU Entity With Regulation From The Cyprus Securities And Exchange Commission (CySEC)
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Pro's & Con's Of Trading With FXOpen
FXOpen Offers Favorable Conditions For Both Beginner Traders And Professional Traders On Forex. The Broker’s Clients Can Actively Trade, Invest In PAMM, And Also Connect To The Service Of Signal Providers’ Transactions Copying. Access To Auto Trading Is Also Available.
FXOpen Pro’s
✅ Heavily Regulated Broker With A Strong Establishment
✅ Wide Range Of Trading Platforms And Competitive Trading Conditions
✅ Global Expands Over 100 Countries
✅ Excellent Support And Technical Analysis Tools
FXOpen Con’s
❌ High Fees
❌ No 24/7 Customer Support
❌ Insufficient Amount Of Training Materials
❌ There Is No Way To Order A Call Back
❌ No Comprehensive Educational Materials
How Can I Start Trading With FXOpen?
FXOpen INT Is One Of The World’s Leading And Fastest Growing Forex Brokers.FXOpen Offer Customers Attractive Trading Conditions, Fast And Error-free Order Execution And The Industry’s Most Advanced And Innovative Technological Solutions.
- Register With FXOpen INT And Verify Your Account.
- Open A Trading Account And Download Metatrader 4, Metatrader 5 Or TickTrader.
- Fund Your Account Using Any Available Payment System.
- Log In To Your Trading Account And Start Trading.
Opened With FXOpen AU Pty Ltd, Authorised And Regulated By The Australian Securities & Investments Commission (ASIC). AFSL 412871 – ABN 61 143 678 719.
FXOpen Commission
The Cost Of Trading Depends On Different Factors Like Commissions, Spreads, And Margins.
The Spread Of A Currency Pair Is The Difference Between The Bid And The Asking Rate. A Pip Represents The Smallest Increment That An Exchange Rate Can Move. One Pip Is 0.01 For Currency Pairs With JPY As The Term Currency And 0.0001 For All Other Pairs.
Margin Is The Amount Of Money Required In Your Account In Order To Open A Position. Margin Is Calculated Based On The Current Price Of The Base Currency Against USD, The Size (volume) Of The Position, And The Leverage Applied To Your Trading Account.
Commissions Are The Charges Imposed By An Investment Broker On A Trader For Making Trades On The Trader’s Behalf. The Level Of Commissions Will Vary Between Different Brokers And Depends On The Asset Being Traded And The Type Of Service Offered By The Broker.
Execution-only Brokers, Which Is A Broker That Does Not Involve In Any Personal Investment Advice And Gives Traders Complete Control Over How They Trade The Markets, Tend To Have Lower Commissions.
The Contract For Differences (CFDs) Trading, A Popular Form Of Derivative Trading That Enables Traders To Speculate On The Rising Or Falling Prices Of Fast-moving Global Financial Markets, On Shares Will Incur A Commission.
CFD Trades On Other Markets Have No Commission But Do Wrap A Spread Around The Market Price Of A Certain Instrument.
Due To FXOpen’s Execution Technology, Variable Spreads Which Are Defined By The Trading Account And Instrument You Choose, Are On Offer. If You Trade Through An ECN Account, Spreads Are Floating And Starting From 0 Pips, While STP Execution Spreads Are Slightly Different.
FXOpen Offers Several Pricing Options For Its Commissions And Fees. In The ECN Account, Commission Rates Vary From US Dollar 30 – US Dollar 100 Round Turn Per 1 Million Traded, Which Compares To 0.3 – 1.0 Pip, Depending On The Account Balance And Monthly Activity.
The STP Account Has A Commission Equivalent Embedded Within The Prevailing Spreads.
FXOpen Broker Features
| Feature | FXOpen |
| Minimum deposit: | $10 |
| Withdrawal fee amount: | None |
| Inactivity fee charged (Y/N): | Yes |
| Max leverage: | 1:30 |
| Spread from: | 0.0 pips |
| Number of instruments: | 500+ |
| Year founded: | 2003 |
| Time to open account: | 1 business day |
| Demo account provided (Y/N): | Yes |
| Countries of regulation: | England |
| Products offered: | Forex, Indices, Commodities, And Crypto CFDs |
FXOpen Bonuses
Forex Brokers Tend To Lure New Traders With Offers Of Attractive Deposit Bonuses. This Can Be Useful, But It Is Essential To Discern What A Proper Bonus Is.Such A Bonus Is But A Way To Compensate Traders For Choosing A Certain Broker Since Once The Account Is Opened, The Trader Will Have The Same Expenses As Any Other.
The Bonus Is Just A Reward For The Trader’s Choice That Gives Some Of These Expenses Back To The Trader, Once Proving Himself As An Active Trader.Moreover, Since 1 August 2018 The European Securities And Markets Authority (ESMA) Has Placed Investor Protection Measures On The Marketing, Distribution, Or Sale Of CFDs To Retail Clients.
These Prevent Brokers From Directly Or Indirectly Providing The Retail Client With A Payment, Monetary Or Excluded Non-monetary Benefit In Relation To The Marketing, Distribution, Or Sale Of A CFD, Other Than The Realized Profits On Any CFD Provided.
This Means That A Deposit Bonus Is Not Currently Applicable For Retail Clients.FXOpen Supports Its Clients By Providing Numerous Promotions And Bonuses. All You Must Do To Qualify For This Is To Register For An FXOpen EWallet And Open A Real Trading Account.
A Welcome Bonus Is Offered When Opening A Micro Account And The Bonus And Earned Profit Can Be Withdrawn From The Account Only After The Total Volume Of All Closed Transactions In The Account Reaches 1 Lot.
FXOpen Also Offers A Cashback Program Where Traders Receive An Additional Refund For Any Kind Of Trade Including Loss-making. The Cashback Is Added To Your Commission Account Which Is Opened Automatically. This Is Available For All Types Of Trading Accounts.
In Addition To The Bonuses, FXOpen Also Offers ForexCup Trading Competitions. When Participating Traders Can Earn Real-money Prizes And Bonuses For Live Trading.
Recommended for forex and CFD traders who prefer MetaTrader platforms and seek great account opening
74.89% of retail CFD accounts lose money
FXOpen Leverage
The Facility That Enables A Trader To Get A Much Larger Exposure To The Market Than The Amount He Or She Deposited To Open A Trade, Is Called Leverage. Such Leveraged Products Magnify A Trader’s Potential Profit – But Of Course, Also Increase The Potential Loss.
The Amount Of Leverage Is Expressed As A Ratio, For Instance, 50:1, 100:1, Or 500:1. Assuming That A Trader Has US Dollar 1,000 In His Or Her Trading Account And Is Trading Ticket Sizes Of 500,000 USD/JPY, That Leverage Will Equate To 500:1.
FXOpen Follows The Strict Guidelines Set By The European Authority Financial Conduct Authority (FCA) And General ESMA Rules As This Is The Company That Regulates It.
Recent Updates From The European Regulator Set A Limitation Towards Maximum Offered Leverage Levels, As ESMA Recognized A Potential Risk In Case Extremely High Leverage Is Used.
Hence, Clients May Use Leverage Up To 1:30 For Forex Products, 1:5 For CFDs, And 1:10 For Commodities.
What Funding Methods Do FXOpen Accept?
FXOpen Provides Clients With Numerous Funding Options For Instant Deposits And Fast Withdrawals.
- Bank Wire Transfer
- Visa
- MasterCard
- FasaPay
- Advcash
- Bitcoin
- BitcoinCash
- Litecoin
- Emercoin
- Ethereum
- Tether
- Online Banking
Withdrawal Forms Received Before 12:00 (GMT) Will Be Processed The Same Business Day. If These Are Received After 12:00 (GMT) Or The Weekend, They Will Be Processed The Next Business Day.Withdrawals Made By Bank Wire Transfer Usually Take 1-3 Business Days To Reach Your Account.Withdrawals Made By Card Usually Take 2-5 Business Days To Reach Your Account Depending On Your Bank.
FXOpen UK Does Not Accept Payments From Third Parties. Please Ensure That All Deposits Into Your Trading Account Come From A Bank Account In Your Name. Payments From Joint Bank Accounts / Bank Cards Are Accepted If The Trading Account Holder Is One Of The Parties On The Bank Account / Bank Card.
Any International Telegraphic Transfer (TT) Fees Charged By Banking Institution Are Passed Onto The Client.
Which Countries Do FXOpen Support?
FXOpen Supported Countries From United Kingdom, Cyprus, Australia, Thailand, Canada, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark And United Arab Emirates
Recommended for forex and CFD traders who prefer MetaTrader platforms and seek great account opening
74.89% of retail CFD accounts lose money
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