FXOpen Review 2024
Minimum
deposit:
  • $1-$300

Trading platform:

  • MetaTrader4
  • MetaTrader5
  • TradingView
  • TickTrader
Regulation:
  • ASIC
  • FCA
  • CySEC
  • The Financial Commission
Bonus for deposit:
  • 0%

FXOpen Review 2024

Updated:
Updated: February 12, 2024
Your capital is at risk. 77% of retail investor

6.13

/

10

TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Minimum
deposit:
  • $1-$300

Trading platform:

  • MetaTrader4
  • MetaTrader5
  • TradingView
  • TickTrader
Regulation:
  • ASIC
  • FCA
  • CySEC
  • The Financial Commission
Bonus for deposit:
  • 0%

Note!

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Summary of FXOpen Trading Company

FXOpen is a moderate-risk broker with the TU Overall Score of 6.13 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by FXOpen clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews. FXOpen ranks 57 among 406 companies featured in the TU Ranking, which is based on the evaluation of 100+ criteria and a test on how to open an account.

FXOpen is a reliable broker with years of experience in financial markets, and adjusting trading conditions for its clients based on the regulatory requirements of their jurisdiction.

FXOpen has been providing brokerage services since 2005 while offering clients STP and True ECN execution models, liquidity from reputable providers, an enviable variety of accounts, and trading instruments. The broker has global offices regulated by the financial supervisory commissions FCA (United Kingdom), CySEC (Cyprus), and ASIC (Australia). FXOpen provides access to trading with over 600 instruments (Forex and CFDs) with leverage up to 1:1000 on the MT4, MT5, and TickTrader platforms. The company serves over 1 million traders, but FXOpen does not have a presence in the U.S.

💰 Account currency: Primary currencies: USD and EUR;
Additional currencies (depending on the country and account type): GBP, CHF, AUD, JPY, SGD, RUB, Gold, mBTC, LTC, etc.
🚀 Minimum deposit: $1-$300 (depending on the country)
⚖️ Leverage: Up to 1:30, up to 1:500, up to 1:1000 (depending on the platform, trader status, and country)
💱 Spread: STP — from 0.9 pips
ECN, Micro — from 0.0 pips
Crypto — from 1 pip
🔧 Instruments: Forex and CFDs on stocks, indices, spot metals, commodities, cryptocurrencies, and ETFs
💹 Margin Call / Stop Out: 20%-100%/10%-50% (depending on the account type)

👍 Advantages of trading with FXOpen:

  • Regulation by three reputable supervisory authorities and membership in the Financial Commission;
  • Compensation of up to EUR 20,000 per client in case of the broker's bankruptcy or failure to fulfill withdrawal obligations;
  • Use of STP (Straight Through Processing) and ECN (Electronic Communication Network) technologies that eliminate dealing center involvement;
  • The opportunity for residents of many countries to start trading on STP accounts with $10 and on Micro accounts with $1;
  • Trading with leverage up to 1:500 on MT4 and MT5 accounts, up to 1:1000 on TickTrader;
  • Protection against negative balance for every retail trader.

👎 Disadvantages of FXOpen:

  • High minimum deposit for traders from the United Kingdom and EU countries, starting from $300 or equivalent;
  • Limited range of educational content for beginners;
  • Micro cent accounts are not available in all countries.

Evaluation of the most influential parameters of FXOpen

User Satisfaction Customer Satisfaction Score (CSAT) is a unique metric of Traders Union based on the analysis of user reviews posted on pages of each broker profile by the visitors of our website from all around the world. We have been collecting these broker reviews for over 13 years, and therefore, we know and understand the level of customer satisfaction with a specific brokerage company better than anyone else.

6.02

/10

Regulation and safety The score for this parameter is based on the licenses a company holds. The higher the level of the license, the higher the score. Obtaining licenses in other jurisdictions also improves a broker’s score. We divide all licenses into three levels:

Level 1 jurisdictions (high level of trust): CFTC – USA, FINMA – Switzerland, FCA — UK, ASIC – Australia, CBI – Ireland, JFSA — Japan, MAS – Singapore, FMA — New Zealand, IIROC – Canada, SFC – Hong Kong.

Level 2 jurisdictions (medium level of trust): CySEC – Cyprus, FSCA – South Africa, CBRC – China, SEBI – India, ISA – Israel, SECT – Thailand, DFSA – United Arab Emirates

Level 3 jurisdictions (low level of trust): FSC – Belize, FSC – British Virgin Islands, FSC – Mauritius, VFSC – Vanuatu, SCB – The Bahamas, BMA – Bermuda, CIMA – Cayman Islands

9.00

/10

Commissions and fees This parameter comprises a comprehensive analysis of all commissions and fees charged by a brokerage company, including trading and deposit/withdrawal fees. Also specific fees, for example the inactivity fee, are taken into account in the final score for the fees. Users can find detailed fees charged by a company in the broker’s profile.

9.31

/10

Trading instruments For this parameter, we evaluate the number of trading assets a broker offers access to in each group of financial instruments. We analyze the quotes a broker offers on Forex pairs, metals, indices, commodities, stocks, and cryptocurrencies. This parameter also includes evaluation of broker’s investment programs, for example access to copy trading, which we regard as an additional type of a trading instrument.

8.02

/10

Brand popularity Traders Union experts are confident that brand awareness mostly fully reflects the real state of affairs in a company – the more popular the broker, the more people trust it. The score for this indicator is based on the data analysis of such services as Ahrefs and SemRush, which show how often a company’s brand is searched on Google. In addition, indicators of the SimilarWeb service, which show the approximate number of visitors of the broker’s website, are also taken into consideration. We also review disclosed official reports of brokers, which allow for evaluating their client base.

6.50

/10

Customer support The score of this parameter is based on the number of available communication channels of a company’s support service. The quicker and easier it is to contact the broker’s support, the higher the score. We check every available support channel, test the speed of processing of requests and completeness of provided information through several interactions.

7.29

/10

Education This parameter provides an evaluation of a company’s capacity to work with beginners. Only quality training and provision of full and unbiased information can help novice traders and investors minimize the risks of losing money, even when working with top-ranked companies. Brokers with useful educational and informational tools, including webinars, tutorials, podcasts and articles, receive higher scores.

6.44

/10

We checked the office of the FXOpen brokerage company in Cyprus, which is located at the following address according to the information on the company’s website:

38 Spyrou Kyprianou Street, CCS BLDG - Office N101, 4154 Limassol, Cyprus

Verified the company's address
* The results of this inspection shall not be regarded as an advice to choose the broker.
Detailed report on the visit to the company’s office FXOpen

Geographic Distribution of FXOpen Traders

Popularity in

10.02%
BS
Bahamas
7.57%
RU
Russian Federation
7.53%
GB
United Kingdom
7.38%
CU
Cuba
6.63%
MN
Mongolia
5.77%
UZ
Uzbekistan
5.72%
US
United States
5.34%
VE
Venezuela
5.32%
BR
Brazil
5.29%
ID
Indonesia
55.43%
Others
Others

Video Review of FXOpen i

FXOpen Latest Comments for 2023 i

58 comments
Total score:
7.5 /10

Share your experience

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rifqi
2 weeks ago

I have been working with fxopen for more than a year, and so far my opinion is rather neutral. There were no problems, technically everything was fine too. The service level corresponds to an experienced broker. I don’t yet see any reason for criticism, as well as for admiration. I got what I expected. But I’m trading with TradersWay not for long, so my review is not yet objective.

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hitmanblood11
1 week ago

FXOpen complies with conditions of the promotion with the account transfer. I recently finished the process. The promised 30% was credited to the account. The broker’s manager said that the bonus is tradable. I haven’t been able to check it yet, since it requires a decent drawdown. But I think that's true. At least the manager assured me and this is specified in the documents provided on the website. I have been actively trading for several days, so far there are no comments for FXOpen.

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jsant
2 weeks ago
Location FR

I have been trading forex with FXOpen for roughly four years now, the first time chose an STP account using the MT4 platform, but now I have also tried using the Ticktrader platform by opening a gross Ticktrader account, what I like most about using Ticktrader is that I can access all CFD markets including forex, crypto, stocks, commodities. On MT4 I trade forex on several major pairs because the spread is low and I like scalping,, fast execution is suitable for short-term trading. On my Ticktrader account, I often choose crypto trading such as Bitcoin/USD, Ethereum/USD, and Solana/USD. Withdrawals so far have been smooth without experiencing any problems.

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amanulla404
8 weeks ago

Fxopen is not ready to withdraw clients' money. I was convinced of this when the company started canceling my withdrawal requests. Either there is no verification (although I passed it), or the wrong payment system (although my payment system has been verified for a long time), or they want me to wait for the withdrawal. I've been waiting for it for over a month. I don't recommend Fxopen.

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noyel
11 weeks ago

I trade with FXOpen, but I am not particularly satisfied with the trading experience. Withdrawals are subject to significant delays, and the commission percentage seems to fluctuate, which is confusing to me. Recently, I've also encountered major issues with the trading terminal. Additionally, I participated in a contest and noticed some manipulations. Overall, I am considering leaving FXOpen.

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omernasir
14 weeks ago

FXOpen is the worst company I have ever met. They never immediately give you the price for opening and closing an order; they always wait until the price goes against you and only then execute the order. And this is in a calm market. They may stop sending quotes to the platform altogether, and then a strong price gap appears. Limit orders often do not work on the FXOpen platform. In general, I do not recommend this company.

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Naveed
14 weeks ago

I realized that arguing with the administration of FXOpen broker is pointless. The platform in this company works poorly, there are constant internet disconnections. I saved screenshots, documented the issues, but it's all in vain. FXOpen support checks every time and suggests changing my internet provider because, according to them, everything is fine with the company, and the internet connection issues are on my end.

Responses to a comment
Dinidudev to Naveed
11 weeks ago

FXOpen seems unwilling to address the issues with the performance of trading terminals, whether it's the desktop version or the web platform. The consistency in poor performance is problematic and, unfortunately, results in financial losses.

Expert Review of FXOpen

The brokerage company FXOpen has been operating since 2005 and was among the first to offer micro and Islamic accounts to its clients. Several offices have been opened in different countries, and a Global division has been launched to make the holding's services available to traders worldwide. At the same time, FXOpen aims to operate within the legal framework, obtaining licenses from regulators in the UK, Cyprus, and Australia. The broker is also an active member of the independent organization, The Financial Commission.

Trading conditions at FXOpen depend on the trader's country of residence, with different types of accounts, leverage levels, and a range of tradable assets. Nevertheless, for all jurisdictions, the broker provides ECN and STP accounts with direct access to reputable liquidity providers, ensuring its clients trade at the best prices with no delays in order processing.

The FXOpen website is available in 13 languages, and technical support is also multilingual, with chat operating 24/5. The broker has received numerous awards and continuously adds new trading instruments and payment systems. Clients have access to bonuses, a partnership program, free market analysis, and trading education.

Anton Kharitonov

Anton Kharitonov

Financial expert and analyst at Traders Union

Latest FXOpen News

12.02.2024
​Broker FXOpe invites its clients to enter the exciting world of Forex contests! Contests for traders are a great opportunity to improve your trading
13.04.2023
The popularity and number of ECN brokers are growing rapidly as they can compete with a large pool of financial institutions. Thanks to the technological
31.03.2023
FXOpen, an international brokerage company, notified its clients that the schedule of trading sessions will change due to the celebration of the Ching Ming
11.03.2023
Due to the transition to daylight saving time, broker FXOpen informed its clients that the trading session schedule would change.On Sunday, March 12, the
15.02.2023
​The FXOpen brokerage firm reminds its clients that the trading sessions for some financial instruments will be shortened on February 20, 2023, due to
14.02.2023
​​FXOpen broker, which is the main sponsor of the ForexCup trading championship, has named the winners of 2022 and announced the beginning of the new
08.02.2023
FXOpen, an international brokerage company, announced that it has lowered the minimum trade size to 0.01 from 0.1 lot on index CFDs. This means less margin

Dynamics of FXOpen’s popularity among
Traders Union’s traders, according to 2023 data

Logo TU
20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
Jan.
Feb.
Mar.
Apr.
May.
Jun.
Jul.
Aug.
Sep.
Oct.
Nov.
Dec.

Investment Programs, Available Markets and Products of the Broker

FXOpen supports various types of investment solutions, allowing its clients to generate passive income, including those who are newcomers to financial markets. The broker offers a range of third-party services, as well as a PAMM system and a referral program.

Solutions for earning without active trading

For automated trading, FXOpen offers:

  • Copy trading service. Clients can use the built-in tools in the MetaTrader trading platforms, enabling them to copy signals from experienced users of MT4 and MT5. The mirror trading service Myfxbook AutoTrade, compatible with the MetaTrader 4 platform, is also available. FXOpen does not provide a proprietary solution for social trading;

  • Expert Advisors (EA). The use of expert advisors allows users to configure a trading system based on the algorithms specified by the EA developer. The MQL5 community market offers hundreds of ready-made trading programs (both paid and free). It is also possible to create a custom advisor;

  • RAMM (Percentage Allocation Master Module). This system is designed for transferring funds under management. Unlike similar services in the stock market, in PAMM, an investor can invest small amounts – at FXOpen, starting from $200. The PAMM account manager uses investor funds only for trading within the system, and withdrawal or transfer to their own account is not possible.

FXOpen’s clients can combine the use of all these services. Moreover, investment activity is not the only way to earn additional income. Experienced traders can register as signal providers and account managers, and earn a share of the trading profit from their subscribers.


Important!

If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.

Partnership program of FXOpen

FXOpen's referral program is two-tiered. Through it, active broker clients can earn additional income from the trading activity of referred traders. The standard reward rates for different account types are as follows:

  • 2.4 pips for STP;

  • 15% of broker fees per trade for Crypto and ECN;

  • 0% for micro.

Further partnership reward calculations depend on the partner's level. A level 1 partner receives 100%-350% of the standard fee, and a level 2 partner receives 35%-175%. The higher the trading volumes of the referred traders, the higher the fee for the traders they’ve brought in. The referral program is available only to residents of the UK and clients of FXOpen Markets Limited’s global representation.

FXOpen also offers partnership programs for introducing brokers (IBs), regional representatives, and White Label participants. The IB level 1 reward is up to 52.5%, level 2 is up to 26.25%, and level 3 is up to 15% of FXOpen's trading fee.

Trading Conditions for FXOpen Users

Broker FXOpen offers traders the MetaTrader (4 and 5), TickTrader, and TradingView platforms, each available in three versions: Desktop, WebTrader, and Mobile App. The choice of available trading instruments for the trader depends on the account type, platform, and regulating country. The largest number of CFDs on MT4 and MT5 is available on ECN accounts (over 140 + Forex), while on TickTrader, there are only CFDs on stocks, totaling over 600. On micro accounts, instant execution is used, while on other account types, market execution is applied. Accounts can be opened in 8 currencies, as well as in digital coins and gold. However, the base currency for micro accounts is always USD.

$1-$300

Minimum
deposit

1:1000

Leverage

24/5

Support

💻 Trading platform: MT4, MT5, TickTrader, TradingView
📊 Accounts: Demo, STP, ECN, Crypto, Micro, Islamic
💰 Account currency: Primary currencies: USD and EUR;
Additional currencies (depending on the country and account type): GBP, CHF, AUD, JPY, SGD, RUB, Gold, mBTC, LTC, etc.
💵 Replenishment / Withdrawal: Credit and debit cards, bank transfer, Neteller, WebMoney, FasaPay, Advcash, Paypaid, cryptocurrencies, instant bank transfer (UK), simple bank transfer (EU), Swift (Australia, EU, UK)
🚀 Minimum deposit: $1-$300 (depending on the country)
⚖️ Leverage: Up to 1:30, up to 1:500, up to 1:1000 (depending on the platform, trader status, and country)
💼 PAMM-accounts: No
📈️ Min Order: 0.01
💱 Spread: STP — from 0.9 pips
ECN, Micro — from 0.0 pips
Crypto — from 1 pip
🔧 Instruments: Forex and CFDs on stocks, indices, spot metals, commodities, cryptocurrencies, and ETFs
💹 Margin Call / Stop Out: 20%-100%/10%-50% (depending on the account type)
🏛 Liquidity provider: Barclays, JPMorgan, Bank of America, Morgan Stanley, Standard Chartered, CRNX, Dresdner, SG Paris, and others.
📱 Mobile trading: Yes
➕ Affiliate program: Yes
📋 Orders execution: Market Execution (STP, ECN, Crypto), Instant Execution (Micro)
⭐ Trading features: Expert Advisors (EAs), hedging, and scalping allowed
🎁 Contests and bonuses: Fee discounts on ECN accounts, welcome bonus, Forex contests
Your capital is at risk. 
77% of retail investor accounts lose money when trading CFDs with this provider.

Comparison of FXOpen with other Brokers

FXOpen RoboForex Eightcap Exness FBS XM Group
Trading
platform
TickTrader, TradingView, MT4, MT5 MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader MT4, MT5 Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 MT4, MobileTrading MT4, MT5, MobileTrading, XM App
Min deposit $300 $10 $100 $10 $1 $5
Leverage From 1:1
to 1:500
From 1:1
to 1:2000
From 1:30
to 1:500
From 1:1
to 1:2000
From 1:1
to 1:2000
From 1:1
to 1:30
Trust management No No No No No No
Accrual of % on the balance No No No No No No
Spread From 0.9 points From 0 points From 0 points From 1 point From 0.2 points From 0.6 points
Level of margin call
/ stop out
20%  /  100% 60%  /  40% 80%  /  50% No  /  60% 40%  /  20% 100%  /  50%
Execution of orders Market Execution Market Execution, Instant Execution Market Execution Market Execution, Instant Execution Market Execution Market Execution
No deposit bonus No No No No $5 No
Cent accounts Yes Yes No No Yes Yes

Broker comparison table of trading instruments

FXOpen RoboForex Eightcap Exness FBS XM Group
Forex Yes Yes Yes Yes Yes Yes
Metalls Yes Yes Yes Yes Yes Yes
Crypto Yes No Yes Yes No Yes
CFD Yes Yes Yes Yes Yes Yes
Indexes Yes Yes Yes Yes Yes Yes
Stock Yes Yes Yes Yes No Yes
ETF Yes Yes No No No No
Options Yes No No No No No

FXOpen Commissions & Fees

Information
The fee on ECN accounts depends on the asset and the trader's trading activity over the last 30 days. The higher it is, the lower the fees are. For Forex, it is as follows: on MT4 and MT5 accounts, it is $1.5-3.5; on TickTrader, it is $1.5-3.5 (market orders); and $1-3.5 for limit orders. The ECN fee is used for CFDs. For indices, it is 0%; for energy resources, it is 0.0018%-0.005%; for stocks, it is 0.04%-0.1% (but not less than $1); and for cryptocurrencies, it is 0%-0.25%. The trading fee on STP and Micro accounts is included in the spreads. On the Crypto account, spreads start from 1 pip + a fee of 0.5% of the transaction amount is retained. The monthly fee for inactive accounts is as follows. From 90 to 365 days, it is $10; and from 365 days, it is $100. The fee for reactivating an account with zero balance is $50. The withdrawal fee (depending on which country) by electronic payment systems, is 0.5%-2%; by SWIFT, it is $30 / EUR 15-25 / GBP 0-20; for cards, it is free or 2.5% + $3.5 / EUR 3.5. The deposit fee is 0%-5.5% of the deposit amount.
Account type Spread (minimum value) Withdrawal commission
STP From $9 Depends on the payment system and the trader's country
ECN From $0 Depends on the payment system and the trader's country
Crypto From $10 Depends on the payment system and the trader's country
Micro From $0 Depends on the payment system and the trader's country

For positions carried over to the next day, swap fees are charged, but this rule does not apply to Islamic accounts.
TU experts calculated the average fee for FXOpen and then compared it with the previously calculated values for RoboForex and Pocket Option brokers. Below are the results:

Broker Average commission Level
FXOpen $2.4 Medium
RoboForex $1 Low
Pocket Option $8.5 High
Logo FXOpen
$2.4
$1
$8.5

Detailed review of FXOpen

The broker FXOpen consistently expands the range of products and services available to its clients. For passive income, PAMM accounts were developed; for advanced trading with increased leverage, the TickTrader platform was added, and for professional analysis, the TradingView platform was selected. The company ensures reliable protection of client data and funds through the use of two-factor authentication, deposit segregation, and information encryption.

FXOpen by the numbers:

  • Over 18 years of operation;

  • Over 1 million registered traders;

  • 4 regional offices;

  • Over 193,000 users on the Forex forum;

  • 600+ assets available for trading.

FXOpen is a broker that provides services in strict compliance with the requirements of its regulators

Trading conditions at FXOpen vary depending on the trader's country and the regulator serving its branch. For example, retail clients from the EU and the UK cannot use leverage higher than 1:30, while traders from other countries have values available up to 1:500 for MT4/MT5 accounts and up to 1:1,000 for TickTrader accounts. In addition, clients with Pro status have access to trading with leverage up to 1:500 and an extended range of assets: residents of Australia and the UK can trade CFDs on cryptocurrencies only if they qualify as professional clients.

Requirements for the minimum deposit amount also differ. For residents of the UK and the EU, trading can start on any of the accounts after depositing USD/EUR 300. Traders from Australia need to deposit $10 for STP account activation, and $200 for ECN. For other countries, more lenient conditions apply: $10 for STP and crypto, and $100 for ECN, while trading on a cent account can begin after replenishing it with $1.

Useful functions of FXOpen:

  • Calendar of important events in the economy and finance;

  • Market news and analysis;

  • Useful articles and tools to enhance trading quality;

  • Margin and pip cost calculators;

  • Dividend payout schedule for U.S., EU, and Asian companies with earnings per share;

  • Forum for discussing FXOpen's conditions and products.

Advantages:

1

Access to a virtual private server for Forex (VPS) is free or for $30 per month;

2

PAMM service for capital managers and investors;

3

Variety of trading instruments and platforms;

4

Trading on the TradingView platform with advanced analytical capabilities;

5

Partnership programs for different audiences with multi-level rewards;

6

Comprehensive analytics and statistics for each service, whether it's trading, partnership programs, or PAMM investments.

Guide on how traders can start earning profits

FXOpen offers 2 types of accounts – user and demo. The demo account is an educational account where trading with real money is not available. To start earning real profits, open a trading account.

Account types:

Account Type
Description
STP
standard MT4 accounts with no trading fee, allowing trading with 50+ currency pairs, gold, and silver. The starting deposit is $10 or equivalent. Leverage is up to 1:30 or up to 1:500 depending on the trader's country;
ECN
accounts with a more diverse range of trading assets. The fee starts from 1.5 units of the base currency per lot, and spreads start from 0.0 pips. The minimum deposit is $100. ECN accounts are available on the MT4, MT5, and TickTrader platforms. The available leverage is up to 1:30 or up to 1:500 (MT4/MT5) and up to 1:30 or up to 1:1,000 (TickTrader);
Crypto
MT4 accounts designed for cryptocurrency trading with a 0.5% fee. Leverage does not exceed 1:3, and the initial deposit size is from $10;
Micro
accounts with instant execution and a contract size of 1,000 units of currency. The minimum deposit is $1, and the maximum is $3,000. Traders can use leverage up to 1:500. The range of assets is limited to currency pairs (28 in total) and CFDs on metals;
Islamic
swap-free equivalents of STP, ECN, and Micro accounts.

In EU countries, the UK, and Australia, two types of accounts – STP and ECN – are available. FXOpen adjusts their conditions to meet the requirements of local regulators. Also, all traders from these countries are divided into retail and professional categories. For the latter, the broker provides Pro accounts with higher leverage (up to 1:100 or up to 1:500) and a wider range of assets.

FXOpen offers STP and ECN accounts, available on different types of platforms, allowing each trader to choose the most suitable trading option.

FXOpen’s bonuses

Discount on ECN fee for lots

The discount amount depends on the trading platform, asset, and trading volume for the previous month.

Review of FXOpen – ECN fee discount
Review of FXOpen – ECN fee discount

 

Welcome bonus

Traders who open their first STP account receive a $10 welcome bonus.

Review of FXOpen – Welcome bonus
Review of FXOpen – Welcome bonus

 

Forex Contests

Trading competitions in collaboration with Forex.game, open to ECN account holders. Traders can start trading with any amount and use any assets. The winner receives $50,000.

Review of FXOpen – Forex contests
Review of FXOpen – Forex contests

 

Periodically, the broker offers other bonuses. These are not available on Crypto accounts.

Investment Education Online

Information

The education provided on the FXOpen website is introductory and is designed for a general understanding of the Forex market rather than an in-depth exploration of the subject. The basics of trading on the over-the-counter market can be found in the Resources section. Additionally, the website features a Help Center with a detailed description of FXOpen's services and conditions.

Information available in the Education & Support section
Information not available in the Education & Support section
What Forex is
How to calculate the cost of a pip for different instruments
Key reasons for trading currencies beyond stock exchanges
Analysis of Forex trading strategies, key indicators, and terminology
Understanding who Forex brokers are, how they earn, and what types of accounts they offer
How to protect against excessive losses in margin trading
The psychological trading model of a Forex trader
Video tutorials on working with different types of orders
Instructions for starting to trade with FXOpen

The company does not offer personalized education, advanced courses, webinars, seminars, or podcasts. To learn how to place orders correctly and calculate the margin level, FXOpen recommends that you start your trading on demo accounts.

Security (Protection for Investors)

Information

FXOpen is the collective name for four brokerage companies, each serving traders from specific regions.

The Australian division of FXOpen operates by the ASIC (Australian Securities and Investments Commission) license, the British division adheres to the FCA (Financial Conduct Authority), and the European one follows CySEC (Cyprus Securities and Exchange Commission). These regulators are among the financial monitoring bodies with the strictest requirements for licensees, mandating regular reporting on capital indicators and maintaining specific capital volumes. ASIC, FCA, and CySEC also require regulated brokers, including FXOpen, to keep client funds in segregated accounts, and offer protection against negative balances to retail traders.

In addition, clients of regulated FCA and CySEC brokers are protected by state-level insurance schemes. The Financial Services Compensation Scheme (FSCS) from the FCA provides coverage for trader losses up to £85,000, while the Investor Compensation Fund (ICF) from CySEC offers coverage up to EUR 20,000.

FXOpen Markets Ltd, the global representation of FXOpen, is a member of The Financial Commission. This organization acts as an independent auditor of financial markets and a third-party mediator in disputes between brokers and their clients. The Financial Commission has an internal compensation fund formed from contributions by its participants. Payments from this fund are disbursed to clients of companies that are unable to meet financial obligations, including due to bankruptcy or liquidation. The maximum payout per trader is EUR 20,000.

👍 Advantages

  • Compensation for losses is available to traders from any jurisdiction
  • The broker's interaction with clients is regulated by an official agreement
  • Protection against negative balances and storage of trader funds in segregated accounts

👎 Disadvantages

  • Conditions for compensation payouts vary for different countries
  • The selection of the servicing division within FXOpen is automated, and traders cannot choose it themselves
  • The leverage for retail clients of brokers regulated by CySEC, ASIC, and FCA does not exceed 1:30

Withdrawal Options and Fees

  • Withdrawal requests submitted before 12:00 (GMT) are processed by FXOpen's financial department on the same day. Those submitted later are processed on the next business day;

  • Funds are credited to bank accounts within 1-3 business days and to cards within 2-5 business days;

  • The list of payment systems may vary depending on the FXOpen division;

  • The withdrawal fee depends on the trader's chosen payment system and country of residence. Free withdrawal options are available. For instance, residents of the EU can withdraw profits without a fee to cards, and UK residents can use SWIFT transfers (in GBP upon request) and local bank transfers without a fee;

  • Withdrawals to third parties are not allowed;

  • The minimum withdrawal amount is USD/EUR 1.

Customer Support Service

Information

The working hours of different FXOpen divisions vary. The EU office is available from 9:00 to 20:00 (Eastern European Time), the UK office from 8:00 to 18:00 (London Time), the Australia office from 8:00 to 18:00 (Sydney Time), and the Global office from 7:00 to 16:00 (GMT) from Monday to Friday. Chat operates 24/5.

👍 Advantages

  • Round-the-clock access to chat on weekdays
  • Support in multiple languages

👎 Disadvantages

  • Traders cannot request a call back from an FXOpen representative
  • Technical support is not available on Saturdays and Sundays

If a trader wishes to communicate with technical support, they can do so using the following channels:

  • Chat, available on the website and in the user account;

  • Phone call;

  • Email inquiry;

  • Request a call back from the website.

Registered clients with the broker can create a ticket in their user account.

Contacts

Foundation date 2005
Registration address FXOpen Markets Ltd., Charlestown, Nevis, P.O. Box 590, Springates East, Government Road, Charlestown, Nevis, Saint Kitts and Nevis
Regulation
Official site
Contacts
Your capital is at risk. 
77% of retail investor accounts lose money when trading CFDs with this provider.

Review of FXOpen’s user account

The functionality of the user account involves managing accounts and funds, configuring security settings, downloading software, etc. Below is a brief guide on how to open and use it.

1

After navigating to the FXOpen company website and clicking on the user account button, the system redirects to the division that serves your region. This process is automatic, and the trader cannot choose another FXOpen representation.

Review of FXOpen’s User Account — Registration
Review of FXOpen’s User Account — Registration
Review of FXOpen’s User Account — Registration
Review of FXOpen’s User Account — Registration
2

Next, fill out the registration form, choose the account type (user, corporate), and customize it according to your trading needs. You can select the currency, leverage level, execution model (STP/ECN), and trading platform for the primary account. Additional accounts can be opened in the user account. You also need to answer questions about CFD trading, generate a secure password, and confirm your phone number and email.

Review of FXOpen’s User Account — Open an account
Review of FXOpen’s User Account — Open an account
Review of FXOpen’s User Account — Open an account
Review of FXOpen’s User Account — Open an account
3

To commence trading, follow these steps in your user account:

1. Upload documents for the KYC (Know Your Customer) procedure, enabling the broker to verify information about you:
Review of FXOpen’s User Account — Identity verification
Review of FXOpen’s User Account — Identity verification
2. Choose a convenient payment method from the available list to fund your trading account:
Review of FXOpen’s User Account — Fund your account
Review of FXOpen’s User Account — Fund your account

1. Upload documents for the KYC (Know Your Customer) procedure, enabling the broker to verify information about you:
Review of FXOpen’s User Account — Identity verification
Review of FXOpen’s User Account — Identity verification
2. Choose a convenient payment method from the available list to fund your trading account:
Review of FXOpen’s User Account — Fund your account
Review of FXOpen’s User Account — Fund your account

The user account menu also allows the client to:

  • Download the desktop versions of trading platforms or access WebTrader;

  • View data on open accounts such as number, password, and server;

  • Change the login password and PIN code;

  • Enable and configure two-factor authentication;

  • View the list of IP addresses used to log into the account;

  • Withdraw funds, exchange currencies, transfer money from one account to another;

  • Communicate with technical support online in the chat.

Disclaimer:

Your capital is at risk.  77% of retail investor accounts lose money when trading CFDs with this provider.  CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.

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FAQs

Do reviews by traders influence the FXOpen rating?

Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about FXOpen you need to go to the broker's profile.

How to leave a review about FXOpen on the Traders Union website?

To leave a review about FXOpen, register on the Traders Union website or you can also leave a review through Facebook.

Is it possible to leave a comment about FXOpen on a non-Traders Union client?

Anyone can leave feedback about FXOpen on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.

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