FXOpen


Overall Score   How is this Calculated?

8.9

Ranks #19 of 29
In Reviews > FXOpen


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Details:

  • Min. Deposit: $1
  • Max. Leverage: 500:1
  • First Deposit Bonus:
  • Min. Lot Size: 0.01
  • Regulation: FCA, FSP NZ, ASIC

  RATING

Ease of Access:
8.9
Reliability:
8.8
Support:
9.0
Payouts pct.:
8.9

  AWARDS

FXOpen Review – A Fantastic Choice of Broker for Serious Traders


Some traders will prefer to choose brokers that have a well established reputation in the industry and that have a lot of customers. This way, you can be sure that the company you're using isn't likely to scam you and you know that they have accountability and a reputation to uphold. Furthermore, larger and better known trading companies are more likely to be able to offer you a wider variety of features and better rates owing to their larger client base and their expertise and funds.

 

One such large company is FXOpen. FXOpen is one of the largest dealers on the market and is used by thousands of traders around the world. It is very well established and has a fantastic reputation. At the same time, it also provides a range of add-ons and features that you just won't find from smaller brokers. They also have offices all around the world from Paris to Cairo meaning that you can always just pop in!

 

Trading Platform

 

Like many brokers, FXOpen uses the MetaTrader 4 platform that is very well-known in the industry in its own right. Experienced traders will almost certainly have used this popular platform in the past which right away has the considerable advantage of meaning that you don't need to learn how to use a new piece of software.

 

MetaTrader 4's popularity is a result of its reliability as well as the variety of options that it provides. Furthermore, it also comes in both desktop and mobile flavors. This means you can run it through your PC and enjoy the advantages of mouse-pointer precision and a large monitor, or you can trade on the go meaning you'll always have instant access to your trades when you need it.

 

Reliability and Security

 

As mentioned at the start of this review, one of the big advantages to choosing a bigger and more well-established broker when you want to start trading is that you'll get the benefit of security. This dealer has dealt with a huge trade volume and has many years of experience in the industry. In other words, they can't afford holes in their security and they have been tried and tested millions of times before. When you choose to trade with FXOpen you will be using one of the most reliable and reputable companies available and this way you can have complete peace of mind.

 

What's more, MetaTrader 4 is also a highly reliable platform. Similarly, MT4 has been around for a long time and has ample opportunity to fine-tune its service to be absolutely as smooth as butter and completely secure.

 

All transactions are kept entirely secure and encrypted so there is no danger of your details getting lost or stolen.

 

Benefits

 

While FXOpen is well established as a highly reputable and experienced no-nonsense trader, this isn't the only advantage to using their services. At the same time you will alsostand to benefit from a number of unique features that will entice a number of customers.

 

One example of this is the promotion that they are currently running for transferring an account to them from another bonus. If you do this you can earn a 5% bonus which can really sweeten the deal. If you're not happy with your current broker, then this should be all the impetus you need to switch over. That, and the fact that you'll be going with a big company that you know you can trust and won't cause you any of the problems associated with some others.

 

There are also other promotions available that make the company all the more tempting. For instance, there is a tiered bonus program that comes into effect after a certain quantity of trading has been done.

 

Commissions and Spreads

 

FXOpen offers fixed spreads on 49 for ECN or 28 for MM. They also offer it for spot gold and silver too.

 

Deposits and Withdrawal

 

FXOpen make it very simple for you to deposit and withdraw your funds. They accept a wide number of credit and debit cards as well as all kinds of wire transfers, JCB and MoneyBookers. Withdraw is simply the same process in reverse and you'll find it's always quick and easy to get access to your money when you want it. This is something you should always check when choosing to go with a new broker – some companies have a reputation for making it hard for their clients to get access to their money and this can put you out of pocket. FXOpen are a huge company, so as you would expect you will never have any difficulty getting your money off of them when you need it.

 

Another great advantage of FXOpen is that they let you start trading with as little as $1. This is a rarity in the industry though a few more companies are starting to offer it. Generally it means that you aren't forced to put down huge amounts of cash to start trading and can instead begin at a level that you're comfortable with. For those who are a little less experienced this can be absolutely crucial and is something else you should always look for.

 

Customer Support

 

Lastly, in keeping with their all-round superlative service, FXOpen also provide excellent customer service and are always available to help you with any problems that you might. If you have questions or are struggling with any aspect of the trading process, then they will help you to find a resolution. They are always available to reach through a variety of means and ready to offer friendly and helpful support.

 

Conclusion

 

Overall, FXOpen are one of the biggest and most reliable brokers available to start trading with. They have been proven by thousands of other traders and represent a truly reputable and trustworthy choice for investing your money and being sure that you'll be able to get it back when you want it. Great customer support and low minimum deposits round out this fantastic choice. 

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User Reviews (1)

  • FxOpen is my only Forex Broker since 3 years. I have all the types of trading accounts with them which i use according to my trading needs. Micro Trading account for low volumes trades. STP trading account for trading volumes above 0.1 lots ECN trading account for trading more than 1 lots And with my own trading experience i can say that i am very much satisfied with my trades so far. All the profits i am able to get on time and this makes me meet my expenses as i only depend on the income generated thru Forex trading. Thanks

    Ivan Malakhov
    2015-09-02

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