FxOpen Review

FXOPEN REVIEW

FxOpen is an ECN/STP Forex broker offering MT4/MT5, PAMM accounts, and over 70 Forex pairs.

📌 FXOPEN REVIEW SUMMARY

• Broker Type: ECN/STP (GMT+2 server time)

• US Traders: NO

• FxOpen Regulation: FCA UK (No 579202) & FSP New Zeeland (No FSP192685)

• FxOpen Platforms: MetaTrader-4, MetaTrader-5, and WebTrader

• Mobile Trading: iOs app (iPhone, iPad, and iPod) plus an Android app

• Automated Trading & Scalping: YES (Fully)

• FxOpen Assets: 70 Forex Pairs, 43 Cryptocurrency Pairs, CFD products (Gold, Silver, Energies, Stocks, and 13 Indices)

• FxOpen Minimum Account: $10 (Micro Account)

• Funding Methods: Cards, Wire, Skrill, Neteller, WebMoney, Perfectmoney, FasaPay, and more methods (check below)

• FxOpen Welcome Bonus: No Deposit Bonus $10 on STP account & Welcome bonus $1 on Micro account

» FxOpen Online Trading

💡 FXOPEN RATING SCORE

This is the Rating Score of FXOPEN:

FXOPEN.COM RATING (USING THE RATING FORMULA V.5.0)	(100%=max)
(1) Safety of Funds when Trading at FxOpen	81.60 %
(2) Cost of Trading	64.30 %
(3) Trading-Options Available at FxOpen	74.10 %
(4) Trading Technology	100.00 %
FxOpen Total Rating	77.60 %

As you can see, the broker receives a very good rating for Safety of Money (81.60%) and Technology (100%). However, the rating for Cost of Trading (64.30%) is lower due to high overnight rates (SWAPs).

🔗 The full FXOPEN.com Rating Calculations here: » FxOpen Full Rating Score

 

FXOPEN FULL REVIEW

🏛️ INTRODUCTION TO FXOPEN

FxOpen is an ECN/STP Forex broker established in New Zeeland, the United Kingdom, and Australia:

□ FxOpen Headquarters: New Zeeland

□ FxOpen Regulation: FCA UK (No 579202) & FSP New Zeeland (No FSP192685)

□ FxOpen Foundation: 2005

□ FxOpen Account Segregation: YES {FxOpen provides segregated accounts for all account types}

□ Compensation in case of insolvency: YES {Only for the clients under the FCA UK}

 

💱 FXOPEN ASSET INDEX & TRADING COST

FxOpen offers a wide Forex asset index along with several assets through CFDs and crypto trading:

Forex Trading

• 70 Forex currency pairs – Forex majors, Forex crosses, and exotics

• Scalping and trading with Expert Advisors are allowed

• Trading leverage up to 30:1

CFD Trading

• Trading Precious Metals (Gold and Silver)

• Trading Energies (Brent, Crude Oil, and Natural Gas)

• Stocks

• 13 Stock Indices

Cryptocurrencies

• 43 crypto pairs in total

• Bitcoin, Litecoin, and Ethereum against the US Dollar, Euro, and the RUB

• Popular trading styles such as scalping and hedging are supported

• Trading with Expert Advisors is allowed

• Trading leverage up to 3:1

 

FXOPEN FOREX TRADING SPREADS

FxOpen offers the lowest spreads on the ECN account, but the STP account is also suitable for all Forex trading styles (day, intraday, scalping, automated trading).

STP Account Spreads

These are some typical spreads on the STP account where there are no trading commissions:

■ 1.5 pip trade spread on EURUSD

■ 1.8 pip trade spread on GBPUSD

■ 1.4 pip trade spread on USDJPY

ECN Account Spreads

 

 

• ECN accounts offer tighter spreads than those above but charge trade commissions.

• Spreads start as low as 0.1 pip.

• Minimum commissions for ECN accounts are $3.00 per fully traded standard lot ($100,000).

• The commission rate depends on account equity and monthly trading volume, so it can vary each month based on the traded volume in USD during the previous period and the account balance.

 

 

🖥️ FXOPEN TRADING PLATFORMS & TECHNOLOGY

FxOpen offers the MetaTrader platform in two versions:

□ FxOpen Desktop Trading: MetaTrader-4, MetaTrader-5, and a WebTrader

□ FxOpen Mobile Trading: iPhone and Android

□ Automated Trading: YES

□ Social Trading: MyFxBook & ZuluTrade

□ Hedging/Scalping: YES

□ PAMM/MAM Accounts: YES

□ FIX/API: NO

□ FREE VPS: YES

 

FxOpen Trader's Tools (Calculators)

Margin and Pip Value Calculator

This tool helps traders calculate margin and pip value before opening a trade, which is useful for determining the appropriate trading leverage. It uses real-time quotes along with your account's equity and leverage for all calculations.

Currency Exchange Rates

The Currency Rates Conversion tool allows traders to obtain exact conversion rates when transferring between different base currencies. Traders can also access historical rates for any date, which is helpful since the broker offers multi-currency accounts.

Commission Calculator

Instantly calculate any ECN commissions, whether half-turn or round-turn, for any currency pair or metal and any lot size.

 

 

💼 FXOPEN TRADING ACCOUNTS

There are four (4) account types offered by FXOPEN.com, plus a Demo Account:

• ECN

• STP

• Micro

• Crypto

□ FxOpen Minimum Account: $10 for Micro Accounts | $100 for ECN Accounts

□ Funding Methods: Cards, Bank Wire, Skrill, Neteller, WebMoney, Perfectmoney, FasaPay, Yandex, QIWI, IntellectMoney

□ Account Base Currencies: USD, AUD, CHF, EUR, GBP, JPY, RUB, SGD, Gold, and mBTC

□ FxOpen Withdrawal Fees: YES

□ FxOpen Inactivity Fees: YES ($10 per month, reactivation - $50)

□ Customer Support Methods: Live Chat, Phone, Email

□ Web-Site Languages:

• English, Spanish, Arabic, Russian, Chinese, French, Deutsch, Indonesian, Malay, Português, Turkish

» FxOpen Accounts and Promotions

 

🔢 FXOPEN REVIEW -MAIN PROS & CONS

FXOPEN.COM REVIEW PROS √

FXOPEN.COM REVIEW CONS X

(√) Regulated Forex Broker (√) Many years in the market. FxOpen has handled more than 1 million trading accounts (√) Tight trading spreads when opening an ECN/STP account (√) Automated Trading and Scalping are allowed, plus there is a free VPS (√) ECN and STP account types (√) 70 Forex pairs on ECN accounts (√) 43 Cryptocurrency pairs (Trade Bitcoin, Litecoin, and Ethereum against the US Dollar, Euro, and the RUB) (√) Low minimum deposit requirements ($10 for Micro and $100 for ECN), and a good variety of funding methods

(x) The overnight rates are not very competitive (x) Withdrawal fees & Inactivity Fees

  

🎯 FXOPEN REVIEW –FINAL THOUGHTS

Founded in 2005, FxOpen is an ECN/STP Forex broker regulated by the FCA (UK) and FSP (New Zealand). The broker provides segregated client bank accounts. Compensation in case of insolvency is available only for clients under FCA UK regulation.

The maximum trading leverage is 30:1, and the asset index includes 70 Forex pairs, 43 crypto pairs, gold, silver, oil, natural gas, stocks, and 13 indices. Three trading platforms are available (MetaTrader 4, MetaTrader 5, and a WebTrader), along with mobile apps and social signals from ZuluTrade and MyFxBook. Automated and scalping strategies are fully allowed, and free VPS hosting is available under specific conditions.

The minimum deposit is just $10 (Micro Account), and you can fund your account via credit/debit card, wire transfer, and most major electronic wallets (Skrill, Neteller, etc.). For the ECN account type, the minimum deposit is $100. A small welcome bonus is also available for the Micro and STP account types.

Trading spreads on ECN and STP accounts are tight, although overnight rates are less competitive.

FxOpen is a reliable and secure choice for Forex trading, suitable for all trading styles and experience levels, from beginners to professionals. Since 2005, FxOpen has managed over 1 million trading accounts.

» FxOpen Online Forex Trading Services

 

◙ FXOPEN.com Review

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