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), 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.
| 💻 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
|
FXOpen Pros and Cons
👍 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.
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 | RoboForex | Pocket Option | Exness | FreshForex | |
|---|---|---|---|---|---|
Trading platform |
TickTrader, TradingView, MT4, MT5 |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Pocket Option, MT5, MT4 |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
MT4, MobileTrading |
Min deposit |
$300 |
$10 |
$5 |
$10 |
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 0.9 points |
From 0 points |
From 1.2 point |
From 1 point |
From 0 points |
Level of margin call / stop out |
No |
No |
No |
No |
No |
Execution of orders |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution, Instant Execution |
No deposit bonus |
No |
No |
No |
No |
$30 |
Cent accounts |
Yes |
Yes |
No |
No |
Yes |
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.
The minimum deposit in RoboForex is $10. Leverage up to 1:2000. Traders choose RoboForex for reliability, favorable trading conditions, minimum spreads, and commission fees. The company is recommended for beginner traders and experienced investors.
Pocket Option offers a wide range of trading instruments and copy trading services. It constantly improves its service quality and expands the list of assets and trading platforms. The broker is suitable even for novice traders without significant capital due to the low initial deposit. Experienced traders who work with CFDs and binary options can also use Pocket Option’s services.
Exness broker is a trusted broker partner that is compliant with all relevant terms. Exness complies with all payment obligations and pays money earned.
FreshForex is a reliable Forex broker providing a standard set of trading tools. The company is a good option for traders of all levels, from beginner to professional traders. It is mid-range in terms of size and number of registered traders and they are reliable based on our research and analysis.
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 | RoboForex | Pocket Option | Exness | FreshForex |
|---|---|---|---|---|---|
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. |
Welcome bonus $30 Classic first deposit bonus up to 120% |
Welcome bonus 50% when opening a real account |
Not offered |
Bonus offers: +10% for each cryptocurrency deposit, stop-out insurance, 101% for drawdown, etc. Bonus programs are updated |
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. |
Up to 40% of trading commissions |
Two types of programs: partner and representative. Commission from profit - up to 80% |
40% of trading commissions |
Types of affiliate programs: organization of a training center, official representation, promotion of SMM. Reward - up to 20 USD for each referral's trading lot |
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 |
Tournaments with a minimum deposit of 1 USD and a prize pool of 100-250 USD. There are free tournaments |
No |
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.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
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.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!