FXOpen Bonus Programs - TU Expert review
Bonus programs offered are an important factor for a trader when choosing a broker. The companies can make special offers for beginners as well as experienced traders. Bonus programs depend on a specific broker and they can differ substantially. Traders Union analysts have prepared a review of FXOpen bonus program. You will learn about the available special offers and conditions of the brokers.
Brief introduction of FXOpen
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) and CySEC (Cyprus). FXOpen provides access to trading with over 700 instruments (Forex and CFDs) with leverage up to 1:30 or up to 1:500, depending on client status and country.
| 💻 Trading platform: |
MT4, MT5, TickTrader, TradingView
|
| 📊 Accounts: |
Demo, STP, ECN, and Islamic
|
| 💰 Account currency: |
Primary currencies: USD and EUR;
Additional currencies (depending on the country and account type): GBP, CHF, AUD, JPY, SGD, Gold, etc. |
| 💵 Deposit / Withdrawal: |
Credit and debit cards, bank transfer, Volet, Neteller, WebMoney, FasaPay, instant bank transfer (UK), simple bank transfer (EU), Swift (EU, UK)
|
| 🚀 Minimum deposit: |
$10-$300 (depending on the country)
|
| ⚖️ Leverage: |
Up to 1:30 and up to 1:500 (depending on client status and country)
|
| 💼 Copy Trading: |
Yes
|
| 📈️ 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, commodities, cryptocurrencies, and ETFs
|
| 💹 Margin Call / Stop Out: |
100%/50%
|
| 🏛 Liquidity provider: |
Real time quotes from an extensive network of liquidity providers
|
| 📱 Mobile trading: |
Yes
|
| ➕ Affiliate program: |
Yes
|
| 📋 Order execution: |
Market Execution (STP, ECN)
|
| ⭐ Trading features: |
Expert Advisors (EAs), hedging, and scalping allowed
|
| 🎁 Contests and bonuses: |
Fee discounts on ECN accounts and Forex contests
|
FXOpen Pros and Cons
👍 Advantages of trading with FXOpen:
•Regulation by two reputable supervisory authorities and membership in the Financial Commission;
•Compensation of up to EUR 20,000 (FXOpen EU Ltd) and up to £85,000 (FXOpen Ltd) 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;
•Trading with leverage up to 1:30 or up to 1:500, depending on client status and country.
•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.
What kind of bonuses are there?
Forex brokers can offer a wide variety of bonuses.
The main types of bonuses are:
-
Welcome Bonus. Traders can receive additional funds for registration and for making the first deposit.
-
No Deposit Bonus. Brokers provide this kind of reward to the clients for just registration.
-
Deposit Bonus. This is a reward for each deposit made to the account.
Also, brokers may hold various promotions and prize draws that are valid for a specific period of time. In addition, some companies hold competitions among traders with a certain prize pool.
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.
Welcome bonus
Traders who open their first STP account receive a $10 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.
Periodically, the broker offers other bonuses. These are not available on Crypto accounts.
Brokers similar to FXOpen
In addition to bonuses, you need to also take into consideration trading conditions. Traders Union analysts have prepared a comparison of FXOpen with similar brokers. In this analysis, traders can learn in detail the trading conditions of FXOpen and compare these conditions with competing brokers.
Comparison of FXOpen with other Brokers
| FXOpen | IUX | XM | Pepperstone | Bybit | |
|---|---|---|---|---|---|
Trading platform |
TickTrader, TradingView, MT4, MT5 |
MetaTrader5, IUX Trade App, IUX WebTerminal |
MT4, MT5, MobileTrading, XM App |
MT4, MobileTrading, WebTrader, cTrader, MT5, TradingView |
MetaTrader5 |
Min deposit |
$10 |
$10 |
$5 |
$1 |
No |
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
Trust management |
No |
No |
No |
No |
No |
Accrual of % on the balance |
No |
No |
No |
No |
No |
Spread |
From 0 points |
From 0 points |
From 0.8 points |
From 0 points |
From 0 points |
Level of margin call / stop out |
No |
No |
No |
No |
No |
Execution of orders |
Market Execution |
Market Execution |
Market Execution |
Instant Execution |
Market Execution |
No deposit bonus |
No |
No |
$30 |
No |
No |
Cent accounts |
No |
No |
No |
No |
No |
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.
A global Forex broker regulated by CySEC and other financial authorities. Provides access to more than 1,000 instruments, including currency pairs, stocks, commodities, indices, and cryptocurrencies. Trades are executed on MetaTrader 4 and 5 platforms with fast execution speeds, tight spreads, leverage up to 1:1000, and negative balance protection. The broker also offers copy trading, educational webinars, Trading Central tools, an economic calendar, and a demo account.
A broker licensed by ASIC, FCA, CySEC, and BaFin, offering access to 1,200+ instruments including Forex, indices, commodities, metals, stocks, ETFs, and cryptocurrencies. Trading is available through MetaTrader 4, MetaTrader 5, cTrader, TradingView, and a proprietary platform. Features include algorithmic trading, copy trading, VPS hosting, a demo account, educational webinars, and analytics. The minimum deposit starts from $1. Negative balance protection and 24/7 support are included.
Bybit offers Forex trading via the MetaTrader 5 platform with access to currency pairs, metals, indices, and commodities. Accounts are denominated in USDT, with leverage up to 1:500 and a minimum order of 0.01 lot. Advisors, hedging, and a demo account are supported. Trading follows an ECN model with no hidden fees. Commissions are fixed from $3 to $6 per lot, and spreads start from 0.0 pips.
Comparison of bonus programs of brokers similar to FXOpen
Many brokers have bonus programs, not only FXOpen. You can choose the most suitable option, depending on your trading experience and needs. Traders Union analysts have prepared a comparison of bonus programs of FXOpen and similar companies.
| Bonus type | FXOpen | IUX | XM | Pepperstone | Bybit |
|---|---|---|---|---|---|
Bonuses |
A $10 bonus is credited after opening a personal account (eWallet) and passing the 2nd level of verification. (for STP-type accounts); A welcome bonus of $1 is credited when opening a Micro account. |
No |
up to $5000 forex bonus, up to 100% forex deposit bonus |
No |
No |
Affiliate Program |
There is a flexible system of remunerations and coefficients depending on these indicators. 1st level — 100% of the standard commission, 2nd level — 35% of the standard commission, 3rd level — 10% of the standard commission. |
No |
Multi tier affiliate program |
For each attracted client under the terms of the program, the affiliate has the opportunity to receive up to USD 400 |
No |
Other |
Forex Cup - A bonus in the amount of 1% of the profit is credited for participating in contests for traders on a virtual account, FXOpen Cashback - The broker refunds a part of the funds for the trading operations conducted, including unprofitable ones. The amount depends on the margin involved in all accounts and ranges from $5 to $1,000. |
No |
No |
Active trader program - Members of the program are paid a daily rebate, which allows them to offset part of their costs. The amount of the rebate depends on the number of trades performed by the trader per month. The rebate for one currency lot is 15%. What’s more, active traders get priority support and free VPS hosting. |
No |
Conclusions
FXOpen Bonus program is well developed. The broker offers a large number of various incentives for the clients. There are special offers for beginners and for experienced traders. The bonus program looks attractive also when compared to the competitors. Therefore, if a client is looking for a broker with a good bonus program, FXOpen is certainly a broker to consider.
FAQs
What do I need to take notice of when choosing a broker?
When choosing a broker, consider the conditions the broker offers. They may turn out to be unacceptable. Also assess the size of the bonus and the rules for its withdrawal.
Is it possible to withdraw bonus money?
It depends on the conditions of the broker. Some brokers allow traders to do it under certain conditions, and some allow to use the bonus only for trading, while also allowing to withdraw only profit earned with the use of bonuses.
Can I refuse to accept a bonus?
Yes. Refusing a bonus is a trader’s right. If the conditions are unacceptable for you, there is no sense in agreeing to them.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
