Latest Updated General Information FXOpen Broker

 fxopen broker review

Reviewed broker: FXOpen

Company registration:  FXOpen NZ Ltd, New Zealand;
FXOpen AU Pty Ltd, Australia

Established in 2005

Location: Australia, Russia, UK

Regulation: ASIC, FCA UK, Financial Dispute Resolution Scheme

Trading instruments: forex, gold and silver, cryptocurrency

Bitcoin trading: available

USA traders: not accepted

ECN: yes (market execution). Participants of an ECN include banks, centralized exchanges, large companies offering their services in the OTC FOREX (Over the Counter) Market and private investors. FXOpen was one of the first Forex broker to offer its clients ECN trading via the Meta Trader 4 terminal.

List of liquidity providers: Dresdner, SG Paris, Standard Chartered, Barclays Capital, Bank of America, CRNX, JPMorgan, Morgan Stanley, Deutsche Bank AG, RBS, CITI, UBS, HOTSPOT INST, GOLDMAN and LavaFX.

STP: yes

FXOpen has been offering Forex brokerage services since 2005 and is currently one of the most successful  Forex brokers in the industry.

Trading Platform Features of FXOpen

FXOpen advantages:

  • FXOpen has introduced digital currency to the clients – cryptocurrency trading with Bitcoin, Litecoin, Namecoin and Peercoin
  • Various account types to fit the needs of all types of investorst – ECN, STP, Crypto, Micro
  • Competitive spreads from 0 pips - very tight spreads compared to similar forex Brokers in the industry
  • Minimum deposit starts from $1
  • Maximum leverage up to 1:500
  • A wide range of fast and reliable payment options
  • Various educational material - latest economic news, professional market analyses and a Forex calendar
  • Monthly and daily account statements

Trading platform: Metatrader 4,Webtrader

Download platform: yes

Web-based online platform: yes 

Mobile trading: yes

Currency pairs: 28

Minimum trade size: 0.001 lot

Spread types: variable

Average spread on EUR/USD: 2

Scalping: not allowed

Hedging: not allowed

One click trading: yes

Mobile trading: yes

Automated trading: yes, via myfxbook and zulutrade

Social trading: no

Expert advisors: allowed

Maximum leverage up to 1:500

Margin call level: 20%

Stop out level: 10%

VPS: available to all FXOpen ECN, STP and CRYPTO account holders

Advantages of FXOpen Forex VPS 

  • Accessibility: log into your MT4 platform from any computer anywhere in the world.
  • Flexibility: expert Advisors continue running even when computer is switched off or the power/internet is off.
  • Speed: cross-connected to FXOpen Equinix NY4 servers.

Automated Trading with FXOpen

How can you trade automatically with Fxopen?

Automated Forex trading allows the used of expert advisors or trading robots. Knowledge of forex trading and even participation during the trading hours is not necessary. You can be a complete newbie in currency exchange and still make profits.

Expert Advisors (EA) are special programs written in MQL4/MQL5 that interact with MetaTrader 4/ MetaTrader 5. EAs use special algorithms to analyse the market price movements and find out the optimal entries and exits. No emotions, just pure data decision making.

Advantages of Automated Trading

  • With the proper use automated trading with FXopen broker will help you gain profits.
  • Expert advisors help trading based purely on data, rather than emotions which get us in trouble of greed and over-trading in the first place.  a
  • Automated trading systems can to watch the market 24/5 while using several trading instruments at the same time.
  • You are in full control of EA settings and can turn to manual trading any given time.
  • You do not have to be in front of your computer or smart phone to seek profitable opportunities. The software does it for you by copying and following the best strategies of most profitable participants.

One Click Trading and Level2 Plugin

The speed is very important in trading. You snooze, you lose! One Click Trading and Level2 Plugin lets you place an order at the best available price with a single mouse click

What else you can do with One Click Trading and Level2 Plugin: 

  • place or close a market or a pending order;
  • set order size;
  • place a Stop Loss or a Take Profit;
  • view the market depth Level 2 data;
  • view the volume-weighted average price (VWAP)

Forex Trading Accounts

FXOpen's Forex trading accounts are suitable for traders with different experience in currency trading – from novice traders to skilled professionals. You can choose the type of account suits you best in terms of trading style, finances and risk.

Demo account: yes, limited to 30 days

Islamic swap free accounts: available

Trading accounts: Micro, STP, ECN, CRYPTO

PAMM accounts: available

Comparing trading accounts

  ECN STP Crypto Micro
Business Model ECN STP ECN MM
Minimum deposit from $100; from $10; from $10 from $1
Maximum balance without limitations without limitations without limitations $3 000
Spread floating, from 0 pips floating floating floating
Commission (per 1 mio) from $15 No 0.5% of trade volume, round turn No
Quotes format 0.12345 0.12345 0.12345 0.12345
Execution market market market instant
Requotes/Slippage No/Yes No/Yes No/Yes Yes/No
Minimum transaction size 0.01 lot 0.01 lot 0.01 lot 0.1 microlots
Maximum transaction size without limitations without limitations without limitations $1 000 000
Minimal increment 0.01 lot 0.01 lot 0.01 lot 0.01 microlots
Leverage up to 1:500; up to 1:500; 1:3 up to 1:500;
Margin call 100% 50% 30% 20%
Stop Out 50% 30% 15% 10%
Demo accounts Yes Yes Yes No
Islamic accounts Yes Yes No Yes
Instruments 50  currency pairs, CFDs, indices, gold and silver; 50  currency pairs + gold and silver; 24 pairs with BTC, LTC, NMC, PPC, ETH, DASH, EMC 28 currency pairs + gold and silver;
Bonuses No Yes No Yes
Hedging Yes Yes Yes Yes
Expert Advisors Yes Yes Yes Yes
Scalping Yes Yes Yes No
News trading Yes Yes Yes No
Phone dealing Yes Yes Yes No
Market depth with level 2 quotes Yes Yes Yes No

Payment Options with FXOPen

Minimum deposit requirement:  $1

Payment methods: Bank wire transfers, local bank transfer, credit/debit cards, Webmoney, Neteller, Skrill,  Visa Qiwi wallet, Perfect Money, Payza, Sorexpay, yandex, fasapay, intellect money, ePayments, RBK Money, Prepaid cards, Bitcoin, Litecoin, Ethereum, Tether

Fees: there is withdrawal and deposit fee almost with any payment method you choose to use, raging from 0.5% to 6%.

FXOpen Customer support and representative assistance

FXOpen offers impressive Client Helpdesk where you can submit tickets, watch help videos and go through educational Knowledge base.

General information about FXOpen’s products and services via Live Chat - 24/5;
Tickets to FXOpen's sales, finance, trading desk and support departments - 7-16 GMT on business days.
Customer support: callback, email, live chat, skype

Support languages are in Russian, English and Chinese

Forex Bonuses and Promotions

No Deposit Bonus for STP accounts

Amount: $10

Account: STP

To receive this offer:
Register an FXOpen e-Wallet and open an STP trading account. Verify your account via SMS.

Welcome Bonus

Paid after the minimum deposit!

Amount: $1

Account: Micro

To receive this offer:

  • Register an FXOpen e-Wallet
  • Open a Micro trading account
  • Deposit $1 or more. Bonus is paid once to the first trading account.

ForexCup Trading Contest Bonus

Amount: Depends on the contest terms (% of profit made in the contest demo account)

Account: STP

To receive this offer:

  • Join one of Forex trading competitions at ForexCup.com
  • Make profit, specified in the contest conditions.

Have you traded with FXOpen? Please review the broker’s quality of services and trading conditions.

FXOpen Cash Back Program

The 90-day Cashback program lets you receive an additional refund up to $1,000 for your trades. Available for all trading accounts. 

How was the rating of FXopen performed compared to other brokers? 

This 2018 Forex Broker Review  has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on FXopen FX broker performance and features. 

Overall our online FXopen review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online FXopen or you find inaccurate details FXopen broker review please get in touch with us and the changes will be applied.  

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