FXOPEN RATING -OVERALL SCORE {77.61%} (?)
FxOpen is a large ECN/STP Forex broker offering more than 70 pairs on MetaTrader4 and MetaTrader5. There are many account types available, Automated Trading, PAMM accounts and a free VPS hosting under a policy. » 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
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