FXOPEN RATING ☆ OVERALL SCORE {77.61%} (?)
FxOpen is a large ECN/STP Forex broker offering more than 70 currency pairs on MetaTrader 4 and MetaTrader 5. It provides a variety of account types, supports automated trading, offers PAMM accounts, and includes free VPS hosting under specific conditions.
🔗 Review FxOpen » Full FxOpen Review here
■ Deposit Requirements: 10 USD
■ Funding: Cards | Bank Wire | Neteller | Skrill | WebMoney | PerfectMoney | QIWI | FasaPay | Yandex
■ Platforms: MetaTrader-4 | MetaTrader-5 | WebTrader | Mobile Traders for iOs and Android
📊 FXOPEN RATING SUMMARY
The following table contains FxOpen's rating summary based on (i) three rating aspects, (i) three experience levels, and (iii) three trading styles.
| FOREX BROKER RATING | (MAX 100%) |
|
81.6% |
|
64.3% |
|
74.1% |
|
100.0% |
|
77.6% |
| TRADING EXPERIENCE | |
|
74.4% |
|
72.1% |
|
72.6% |
| TRADING STYLE | |
|
77.7% |
|
70.3% |
|
40.7% |
📝 FXOPEN DETAILED RATING REVIEW
| FXOPEN RATING ANALYSIS | ||||
| FXOPEN TOTAL RATING | 100.0% | FxOpen | ||
| 77.61% | FULL ANALYSIS | |||
| A. FXOPEN SAFETY OF FUNDS | MAX WEIGHT→ | 28.0% | 22.86% | Rating the FxOpen Safety |
| A.1 FxOpen License / Regulation | FCA (UK) = 10.0% | FINMA (Swiss) = 10.0% | NFA/CFTC (US) = 10.0% | BAFIN (GE) = 8.0% | ASIC (AU) = 8.0% | FSC (NZ) = 6.0% | CYSEC (Cyprus) = 6.0% | HCMC (GR) = 3.0% | FSC (BVI) = 1.0% | MiFID (EU) = +0.5% rating | 10.0% | 10.00% | FxOpen is regulated by the FCA (UK) = 10% rating | FSP New Zealand = 6% | Total = 10% (Max) |
| A.2 FxOpen Client Compensation in Case of Insolvency | Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0% Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0% Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0% Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0% |
5.0% | 0.00% | FxOpen does not offer compensation -ONLY FXOpen UK offers client compensation (up to 50,000 GBP) via the FSCS = 0.0% rating |
| A.3 FxOpen Country of Headquarters | UK, USA, Germany, France, Canada, Switzerland, and similar = 5.0% rating | Australia, New Zealand = 4.0% rating | Ireland, Spain, Italy, Cyrpus, and similar countries = 3.0% rating | Greece, Malta, South Africa = 2.0% rating | Offshore Countries = 0% | 5.0% | 4.00% | FxOpen maintains headquarters in New Zeeland = 4.0% |
| A.4 FxOpen Years in the Market | 10+ Years of Operation = 5.0% rating | 5-10 Years of Operation = 4.0% rating | 2-5 Years of Operation = 2.0% rating | 0-2 Years of Operation = 0% | 5.0% | 5.00% | FxOpen was found in 2005 (10+ years) = 5.0% rating |
| A.5 FxOpen Client Account Segregation | Client bank account segregation = 2.5% rating | No = 0.0% | 2.5% | 2.50% | Client funds are maintained in segregated accounts = 2.5% |
| A.6 FxOpen Web Ratings | ForexPeaceArmy Rating = 0.5% rating | 0.5% | 0.36% | FxOpen ForexPeaceArmy Rating is 2.98/5.0 | EarnForex Rating = 8.3/10 = Total rating is 0.3565% |
| A.7 (+) FxOpen ADJUSTING RESULTS | ||||
| A.7.1 FxOpen Corporate Size | 1 million Trading Accounts = +1.0% rating | 500,000+ Accounts = +0.5% rating | 250,000+ Accounts = +0.25% rating | 1.0% | 1.00% | FxOpen has handled more than 1 million accounts = 1.0% Rating |
| B. FXOPEN TRANSACTION COST | MAX WEIGHT→ | 28.0% | 18.00% | Rating the FxOpen Transaction Cost |
| B.1 FxOpen spread on EURUSD | <0.3 pip = 7.0% rating | <0.4 pip = 6.5% | <0.5 pip = 6.0% | <0.6 pip = 5.5% | <0.7 pip = 5.0% | <0.8 pip = 4.5% | <1.0 pip = 4.0% | <1.25 pip = 3.5% | <1.50 pip = 3.0% | <1.75 pip = 2.5% | <2.00 pip = 2.0% | <2.25 pip = 1.5% | <2.50 pip = 1.0% | <2.75 pip = 0.5% | 7.0% | 4.00% | Typical FxOpen EURUSD spread on STP Account is 1.0 pip = 4.0% rating |
| B.2 FxOpen spread on GBPUSD | <0.85 pip = 4.5% rating | <1.00 pip = 4.0% rating | <1.25 pip = 3.5% rating | <1.50 pip = 3.0% rating | <1.75 pip = 2.5% rating | <2.00 pip = 2.0% rating | <2.25 pip = 1.5% rating | <2.50 pip = 1.0% rating | 3.00 pip = 0.5% rating | 4.5% | 2.00% | Typical FxOpen GBPUSD spread on STP Account is 1.8 pips = 2.0% rating |
| B.3 FxOpen spread on USDJPY | <0.85 pip = 4.5% rating | <1.00 pip = 4.0% rating | <1.25 pip = 3.5% rating | <1.50 pip = 3.0% rating | <1.75 pip = 2.5% rating | <2.00 pip = 2.0% rating | <2.25 pip = 1.5% rating | <2.50 pip = 1.0% rating | 3.00 pip = 0.5% rating | 4.5% | 3.00% | Typical FxOpen USDJPY spread on STP Account is 1.4 pips = 3.0% rating |
| B.4 FxOpen Trade Commissions | No Commissions = 7.0% rating | Commissions < $1.0 / lot = 6% rating | < $1.5 / lot = 5% rating | < $2.0 / lot = 4% rating | < $3.0 / lot = 3% rating | < $4.0 / lot = 2.0% rating | < $5.0 / lot = 1% rating | < $6.0 / lot = 0.5% rating | Higher Commissions = 0% rating | 7.0% | 7.00% | FxOpen does not charge trading commissions on the tested STP account type = 7.0% |
| B.5 FxOpen Overnight (SWAP) rates | Cost < $1.5 = 2.00% rating | Cost < $2.0 = 1.75% | Cost < $2.5 = 1.50% | Cost < $3.0 = 1.25% | Cost < $3.5 = 1.00% | Cost < $4.0 = 0.75% | Cost < $4.5 = 0.50% | Cost < $5.0 = 0.25% | 2.0% | 0.00% | FxOpen rollover on a Long EURUSD trade worth 1 lot ($100,000) is -$10.9 | FxOpen rollover on a Short EURUSD trade worth 1 lot ($100,000) is +$5.2 | Total cost in absolute value is $5.7, rating = 0.00% |
| B.6 FxOpen Commissions on Funding | No Funding Fees = 2.0 % rating | One (1) Free Withdrawal Per Month = 1.0 % rating | Funding Fees Without Free Withdrawal = 0 % rating | 2.0% | 0.00% | FxOpen does charge withdrawal commissions on almost all withdrawal methods (Wire, Cards, most Wallets) = 0.0% rating |
| B.7 FxOpen Inactive Fees | No Inactive Fees = 1.0 % rating | Yes Inactive Fees = 0 % rating | 1.0% | 0.00% | FxOpen charges Inactive Fees ($10 per month, reactivation - $50) = 0.0% rating |
| B.8 (+) FxOpen ADJUSTING RESULTS | ||||
| B.8.1 FxOpen Execution Model | ECN Execution = +2.0 % rating | STP = +1.5 % rating | Dealing Desk = +0.0% rating | 2.0% | 2.00% | ECN/STP Order Execution Model = +2% rating |
| C. FXOPEN TRADING OPTIONS | MAX WEIGHT→ | 28.0% | 20.75% | Rating the FxOpen Options for Traders |
| C.1 FxOpen Forex Asset Index | 45+ Pairs = 8.0% rating | 40+ Pairs = 7.0% rating | 35+Pairs = 6.0% rating | 30+ Pairs = 5.0% rating | 25+ Pairs = 4.0% rating | 20+ Pairs = 3.0% rating | 15+ Pairs = 2.0% rating | 10+ Pairs = 1.0% rating | Less than 10 Pairs = 0% rating | 8.0% | 8.00% | FxOpen Provides 70 Forex Pairs on the ECN Account type = 8.0% rating |
| C.2 FxOpen CFDs | CFD Trading on MT4 = 2.5% rating | CFD Trading on WebTrader = 1.5% rating | No CFDs = 0.0% | 2.5% | 2.50% | FxOpen offers CFD trading = 2.5% rating |
| C.3 FxOpen CFDs on Futures | CFDs on Futures = 1.5 % rating | No CFDs on Futures = 0.0 % rating | 1.5% | 0.00% | FxOpen does not offer CFDs on Futures = 0.0% rating |
| C.4 FxOpen Free Practice Account | Practice Account = 2.0 % rating, No = 0.0 % rating | 2.0% | 2.00% | FxOpen Provides a free Demo/Practice account = 2.0% rating |
| C.5 FxOpen Trading Leverage | Leverage > 100:1 = 1.0% rating | Leverage > 75:1 =0.75% rating Leverage > 50:1 = 0.5% rating | 1.0% | 1.00% | 500:1 max Trading Leverage = 1.0% rating |
| C.6 FxOpen Bonus/Rebate Promotions | 5.0% | |||
| C.6.1 FxOpen Welcome Bonus (%) | Welcome Bonus >50% = 5% rating | Bonus >40% = 4% rating | Bonus >30% = 3% rating | Bonus >20% = 2% rating | Bonus >10% = 1% rating | 0.00% | $10 Welcome Bonus = 0% rating | |
| C.6.2 FxOpen Trading Rebate (%) | Trading Rebate >30% = 5% rating | Rebate >25% = 4% rating | Rebate >20% = 3% rating | Rebate >15% = 2% rating | Rebate >10% = 1% rating | Rebate >5% = 0.5% rating | 0.00% | FxOpen Offers rebates only during the first 90 days from the moment of registration (max rebate $1,000) = 0% rating | |
| C.7 FxOpen Min. Account Size | Min Account < $100 = 2.00% | Min Account < $250 = 1.50% rating | Min Account < $500 = 1.00% rating | Min Account < $1,000 = 0.50% rating | 2.0% | 2.00% | The min. deposit amount is $10 = 2.0% rating |
| C.8 FxOpen Number of Deposit Methods | For every deposit method = 0.5% rating | max = 5 methods | 2.5% | 2.50% | FxOpen offers 5+ deposit methods (Wire, Cards, Skrill, Neteller, WebMoney, Perfectmoney, FasaPay, Yandex, QIWI, IntellectMoney) = 2.5% rating |
| C.9 FxOpen Number of Withdrawal Methods | For every withdrawal method = 0.5% rating | max = 5 methods | 2.5% | 2.50% | FxOpen offers 5+ withdrawal methods (the same as above) = 2.5% rating |
| C.10 Minimum Stop-Order Levels (in pips) | 2 pips or less = 1% rating | 3 pips or less = 0.5% rating | 4 pips or less = 0.25% rating | 1.0% | 0.00% | FxOpen offers 10 pip minimum stop-out order distance = 0.0% rating |
| C.11 (+) FxOpen ADJUSTING RESULTS | ||||
| C.11.1 Offering more than 100 Forex Pairs | Offering more than 100 Pairs = 1.0 % rating / No = 0 % rating | 1.0% | 0.00% | 70 Forex pairs = +0% rating |
| C.11.2 Paying Interest on unused funds | Paying interest on Unused Funds = 0.50 % rating No = 0.0 % rating | 0.5% | 0.00% | No = +0% |
| C.11.3 FxOpen Contests | Contests = 0.25 % rating | No = 0 % rating | 0.25% | 0.25% | FxOpen offers the ForexCup trading competition = +0.25% rating |
| D. FXOPEN TECHNOLOGY | MAX WEIGHT→ | 16.0% | 16.00% | Rating the FxOpen Technological Efficiency |
| D.1 FxOpen Trading Platforms Availability | For every Platform = 1.0% | max = three (3) platforms | 3.0% | 3.00% | FxOpen offers MT4 and MT5 plus a WebTrader = 3.0% rating |
| D.2 Trading-On-Charts | Offering Trading-On-Charts = 1.0 rating | No=0% | 1.0% | 1.00% | FxOpen is offering 'Trading-On-Charts' = 1.0% rating |
| D.3 FxOpen Slippage on Execution | Slippage < 1.00 pip = 1.0% rating | < 1.25 pip = 0.75% rating | < 1.50 pip = 0.5% rating | < 1.75 pip = 0.25% rating | 1.0% | 1.00% | FxOpen Slippage on execution is less than 1.0 pip = 1.0% rating |
| D.4 FxOpen Automated Trading Allowance | Automated Trading is Allowed = 2.0 % rating / No = 0 % rating | 2.0% | 2.00% | FxOpen allows automated trading = 2.0% rating |
| D.5 FxOpen MT4 Platform Availability | MT4 is Provided = 2.0 % rating / No = 0 % rating | 2.0% | 2.00% | FxOpen offers the MT4 platform = 2.0% rating |
| D.6 FxOpen Mobile Apps | iOs= 1% rating | Android = 1% rating | Windows Mobile is 0.5% rating | max = 2% rating points | 2.0% | 2.00% | FxOpen offers an MT4 App and an MT5 App for iPhone and Android = 2.0% rating |
| D.7 FxOpen Allowing Scalping / Hedging | Yes, both are allowed = 1.0 % rating | Only Hedging / Scalping = 0.5% rating | Both are Forbidden = 0 % rating | 1.0% | 1.00% | FxOpen allows both Scalping and Hedging = 1.0% rating |
| D.8 FxOpen Customer Service | 24/7 Support = 1.0 % rating | 24/6 Support = 0.5 % rating | 24/5 Support = 0 % rating | email support = 1.0% rating | Phone support = 1.0 %. | Live Chat support = 1.0% | Skype support = 1.0 % | Forum support = 1% | Call-Back = 0.5 % rating | 4.0% | 3.00% | FxOpen offers 24/5 Customer support = 0%, via eMail, Phone, Live Chat = 3.0% | Total rating is 3.0% |
| D.9 (+) FxOpen ADJUSTING RESULTS | ||||
| D.9.1 FxOpen PAMM / MAM Accounts | PAMM / MAM Accounts = +0.5% rating | No = 0 % rating | 0.5% | 0.50% | FxOpen offers PAMM accounts = +0.5% |
| D.9.2 FxOpen Free VPS | Free VPS = +0.5% rating | No = 0 % | 0.5% | 0.50% | FxOpen is offering a free VPS to traders maintaining equity over $5,000 or have traded volumes of 100 lots per calendar month = +0.5% |
| D.9.3 FxOpen API Trading | API trading = +0.5 % rating | No API = 0.0 % rating | 0.5% | 0.50% | FxOpen is offering API trading = +5.0% |
| TOTAL FXOPEN RATING | 77.61% | |||
🏛️ FXOPEN LICENSES AND LEGAL INFORMATION
- FXOpen Markets Limited, a company duly registered in Nevis under the company No. C 42235
- FXOpen is a member of The Financial Commission (Reference number: 579202)
- FXOpen does not provide services for United States residents
- FXOpen clients receive real-time quotes from 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
🔗 MORE RATINGS
» RoboForex Rating
» TitanFx Rating
» IC Markets
» FxOpen
» FBS Group
» AXI Rating
» Brokers Directory
» Auto-Trade Systems
» Rating Forex Brokers
■ FxOpen Rating Review
ForexExperts.net (c)
