FXOpen Review: Detailed Analysis & Insights

Explore our thorough FXOpen review where we evaluate key aspects such as trading platforms, account options, fees, and customer support. Gain the insights you need to decide if FXOpen aligns with your trading goals.

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FXOpen Overview

Brief look at FXOpen

FXOpen is a well-established forex broker founded in 2005, recognized for its commitment to providing a transparent and reliable trading environment. Catering to both novice and experienced traders, FXOpen offers a wide range of trading instruments, including major and exotic currency pairs, commodities, indices, and cryptocurrencies. The broker supports multiple trading platforms, including MetaTrader 4, MetaTrader 5, and TickTrader, ensuring that traders have access to advanced tools and features for effective trading. FXOpen is regulated by several reputable financial authorities, which enhances its credibility and ensures the security of client funds. Additionally, FXOpen provides various account types to suit different trading styles and offers competitive spreads, leverage options, and robust customer support, making it a popular choice among forex traders worldwide.

Pros

  • Regulated by multiple reputable financial authorities
  • Offers MetaTrader 4, MetaTrader 5, and TickTrader
  • Access to numerous currency pairs, commodities, indices, and cryptocurrencies
  • Provides tight spreads and flexible leverage options
  • Multiple account options tailored to different trading needs, including micro, standard, and ECN accounts
  • Responsive and knowledgeable support team available through various channels
  • Efficient order execution with minimal slippage

Cons

  • Fewer promotional bonuses and incentives compared to some other brokers in the market
  • Some accounts may charge inactivity fees if there are no trades over a certain period

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FXOpen Reviews

4.0/5
5 reviews
TraderAlex

FXOpen is a fantastic broker with a user-friendly app and a variety of account types to choose from. I started with a low minimum deposit and found the demo account extremely helpful for practicing my trading strategies. The MT5 platform is powerful, and the spreads are very competitive. Withdrawal time is quick, and the leverage options are flexible. Signing up was easy, and the login process is straightforward. Highly recommend FXOpen for both beginner and experienced forex traders!

1/12/2024
ForexGuru99

Overall, my experience with FXOpen has been positive. The broker offers both MT4 and MT5 platforms, which cater to different trading preferences. The minimum deposit requirement is reasonable, making it accessible for new traders. I appreciate the variety of account types available, and the demo account was a great way to get started without risking real money. The withdrawal time is decent, though it could be faster. The spreads are competitive, and the leverage options provide good trading flexibility.

2/25/2024
Sarah_Trades

FXOpen provides a solid trading experience with its robust platforms and diverse account options. The sign up process was smooth, and I was able to download the app without any issues. The demo account allowed me to familiarize myself with the trading environment before committing real funds. Spreads are tight, which is great for forex trading, and the leverage options are flexible. Withdrawal times are generally good, although there have been occasional delays. Customer support is responsive and helpful whenever I have questions.

3/18/2024
MarketMaven

FXOpen is a reliable broker with a good range of trading instruments and platforms like MT4 and MT5. The minimum deposit is affordable, and the demo account is useful for testing strategies. However, I found the withdrawal time to be slower than expected, which was a bit frustrating. The app is convenient for trading on the go, and there are multiple account types to suit different needs. Spreads are competitive, and the leverage options are adequate for most traders. Overall, a decent choice for forex trading.

4/10/2024
ProTrader88

I have been using FXOpen for several months now, and it has been a positive experience overall. The broker offers a variety of account types, including ECN and standard accounts, which cater to different trading styles. The MT5 platform is excellent for advanced trading, and the spreads are very competitive. The minimum deposit is low enough for beginners to start trading without a significant initial investment. The demo account was instrumental in helping me get comfortable with the platform before going live. Withdrawal times are generally efficient, and the leverage options provide ample flexibility. The only downside is that the app could use some improvements in terms of stability, but customer support has been helpful in addressing any issues.

5/5/2024

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Is FXOpen regulated?

Companies
FXOpen Markets Limited, FXOpen Ltd, FXOpen EU Ltd, FXOpen AU Pty Ltd
Countries
Saint Kitts and Nevis, United Kingdom, Cyprus, Australia
Regulators
FCA, CySEC, ASIC
Investor Protection
UK Financial Services Compensation Scheme (FSCS), Investor Compensation Fund (ICF)
Investor Protection Size
£85 000 / €20 000
Publicly Traded
Segregated Accounts
Guaranteed Stop Loss
Negative Balance Protection

FXOpen Account Types

STP
Deposit: $10
Lot Size: 0.01 lots
Spread Type: Floating
Execution: Market
Min Spread: 1 pip
Fee: No
Max Leverage: 1:500
Stop Out: 30%
Margin Call: 50%
ECN
Deposit: $100
Lot Size: 0.01 lots
Spread Type: Floating
Execution: Market
Min Spread: 0 pips
Fee: $7 per 1 lot
Max Leverage: 1:500
Stop Out: 50%
Margin Call: 100%
Micro
Deposit: $1
Lot Size: 0.01 lots
Spread Type: Floating
Execution: Market
Min Spread: 1 pip
Fee: No
Max Leverage: 1:500
Stop Out: 10%
Margin Call: 20%
Crypto
Deposit: $1
Lot Size: 0.01 lots
Spread Type: Floating
Execution: Market
Min Spread: 1 pip
Fee: $100 per 1 lot
Max Leverage: 1:3
Stop Out: 15%
Margin Call: 30%

Additional Features

  • Demo Account
  • VIP Account
  • Swap-Free Account
  • Copy Trading
  • VPS
  • PAMM/MAM Accounts

FXOpen Funding and Fees

Base currencies
USD, EUR, CHF, GBP, JPY, AUD, SGD, BTC, XAU, LTC
Funding Methods
Bank Wire, Credit Card, Debit Card, FasaPay, Volet.com, WebMoney, Bitcoin (BTC), Tether (USDT), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC)
Inactivity Fee
$10 per month after 12 months
Interest on Margin
Withdrawal Fee

FXOpen Trading Platforms and Conditions

Trading Platforms
MetaTrader 4 (MT4), MetaTrader 5 (MT5), TickTrader, TradingView
Execution Speed
1 ms
Scalping
Expert Advisors (EAs)
Depth of Market (DOM)
Spread
low

FXOpen Trading Assets

Currencies
66
Indices
12
Stocks
553
Cryptocurrencies
41
Bonds
0
Metals
3
Energies
3
Soft Commodities
0
ETFs
56

Education and Analytics

Economic Calendar
Indicators
Robots
Signals
Autochartist
Expert Analytics
News Feed
Education Articles
Webinars
Seminars

Broker Contests

Demo Contests

Contest NameStart BalancePrize PoolPeriodDetails
TickTrader Challenge$5,000$650MonthlyLearn More

FXOpen Support

Telegram
LinkedIn
YouTube
Instagram
Twitter

FXOpen vs Competitors

FeaturesFXOpenExnessAlpariRoboForexDerivAdmirals
TypeMM, STP, ECNMM, STP, ECNECN, MMMM, STP, ECNSTPSTP
Minimum Deposit$1$10$50$10$1$25
RegulatorsFCA, CySEC, ASICFCA, SFSA, FSCA, FSC, BVIFSC, CySEC, CBCS, CMAMISA, NBRBBFSCLFSA, BVIFSC, VFSC, SVGFSA, JFSC, MFSACySEC, JSC, FCA, EFSA, ASIC, FSCA, CMA, SFSA
PlatformsMetaTrader 4 (MT4), MetaTrader 5 (MT5), TickTrader, TradingViewMetaTrader 4 (MT4), MetaTrader 5 (MT5)MetaTrader 4 (MT4), MetaTrader 5 (MT5)MetaTrader 4 (MT4), MetaTrader 5 (MT5), R MobileTrader, R StocksTraderMetaTrader 5 (MT5), Deriv X, cTraderMetaTrader 4 (MT4), MetaTrader 5 (MT5)
Spreadlowlowaveragelowlowlow
Leverage1:5001:20001:30001:20001:40001:1000
AssetsCurrencies, Indices, Stocks, ETFs, Metals, Energies, CryptocurrenciesCurrencies, Indices, Stocks, Cryptocurrencies, Metals, EnergiesCurrencies, Indices, Stocks, Cryptocurrencies, Metals, EnergiesCurrencies, Indices, Stocks, ETFs, Metals, Energies, Soft CommoditiesCurrencies, Indices, Stocks, ETFs, Metals, Energies, CryptocurrenciesCurrencies, Indices, Stocks, ETFs, Bonds, Metals, Energies, Soft Commodities, Cryptocurrencies

FAQ

Is FXOpen safe?

How does FXOpen make money?

What is the minimum deposit for FXOpen?

How do I deposit funds in a FXOpen account?

How do I withdraw money from FXOpen?

How much is the maximum leverage at FXOpen?

What trading platforms does FXOpen offer?

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