FXOPEN Review
FXOPEN is an ECN/STP broker based in Oceania and regulated by FCA UK and FSP New Zeeland. The broker offers ECN trading, MT5, PAMM accounts, automated trading, and a free VPS.
The broker offers a wide asset index containing more than 70 currency pairs and several CFD assets. The spreads are fair on ECN and STP account types but the overnight rates for keeping positions overnight are not equally competitive. Automated and scalping are fully allowed. As concerns about promotions, FXOpen offers free VPS hosting and a small welcome bonus for new customers.
◙ Fxopen.com Review Analysis
This is the FxOpen.com full review analysis:
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FXOPEN.com BASIC FACTS |
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ECN / STP FOREX BROKER |
FXOPEN.com TRADING INFO |
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◘ FXOPEN Asset Index |
■ FXOPEN offer 70+ Forex Currency pairs plus several CFD assets |
The wide currency pairs index is one of the key advantages when trading Forex with FXOPEN |
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◘ FXOPEN Typical Spreads / Trading Commissions |
FXOPEN charge trading commissions on ECN accounts, but NO on STP accounts These are some minimum STP account spreads: ■ EURUSD spread is 1.5 pip ■ GBPUSD spread is 1.8 pip ■ USDJPY spread is 1.4 pip |
The lowest spreads are offered in the ECN account. Note that the commissions charged on ECN accounts depend on the volume profile of each trader. The STP account offers fair spreads without trading commissions |
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◘ FXOPEN Maximum Leverage |
■ FXOPEN offers Leverage up to 30:1 |
FXOPEN offer very high trading leverage, up to 30:1 |
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◘ Lot Size |
■ The minimum lot size is 0.01 |
Low deposit requirements and a minimum size of 0.01 are always useful for beginners |
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◘ Automated Trading / Scalping |
■ Automated Trading is allowed by FXOPEN, -YES- ■ Scalping is also fully allowed by FXOPEN |
You can use automated trading, EAs, and scalping when trading with FXOPEN. There is also a free VPS account for robotic Forex trading |
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◘ FXOPEN Platforms |
■ FXOPEN offers: MetaTrader-4, MetaTrader-5 |
There are MT4, MT5, and web traders. Note that FxOpen offers also PAMM accounts |
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◘ FXOPEN Typical Slippage (EURUSD) |
■ FXOPEN Slippage is measured under 1.00 pip |
The slippage on order execution is low on ECN/STP accounts |
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◘ FXOPEN Mobile Trading |
■ FXOPEN offers a mobile app for all popular operating systems. |
There is an MT4 mobile app for Android and Apple iOs (iPhone, iPad, and iPod) |
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The Company |
FXOPEN.com COMPANY INFO |
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◘ FXOPEN Foundation |
■ FXOPEN was found in 2005 |
More than 10 years in the market. Overall, FxOpen has handled more than 1 million accounts |
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◘ FXOPEN Headquarters |
■ FXOPEN headquarters are in New Zeeland and Australia |
■ The FXOPEN is operated by FXOpen Markets Limited, a company registered in Nevis under registered number C42235 ■ XP Solutions Limited is a company registered in New Zealand under registered number 3789182 |
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◘ FXOPEN Regulation |
■ FXOPEN is regulated by FSP (New Zeeland) and FCA (UK) |
FXOPEN is regulated by two different government bodies: ■ FCA UK (License 579202) ■ FSP New Zeeland (License 192685) |
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FXOPEN Accounts |
FXOPEN.com ACCOUNT INFO |
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◘ FXOPEN Account Currencies |
EURO | GBP | USD |
Traders can open an account in USD, EUR, GBP, AUD, CHF, JPY, RUB, SGD, Gold, and mBTC |
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◘ FXOPEN Deposit Money |
CARDS | BANK WIRE | INTERNET WALLETS |
Bank Wire and Cards and a good variety of internet wallets: ■ WebMoney, Skrill, Neteller, Perfectmoney, Yandex, QIWI, IntellectMoney, and FasaPay |
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◘ FXOPEN Withdraw Money |
CARDS | BANK WIRE | INTERNET WALLETS |
■ The same methods to withdraw funds, as above ■ Be aware FxOpen charges withdrawal commissions and non-activity fees |
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◘ US Residents |
■ FXOPEN forbids US Residents as Clients -NO- |
Traders coming from the US can't trade with FxOpen.com |
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◘ FXOPEN Minimum Deposit |
■ The minimum Deposit at FXOPEN is 10 USD |
$10 minimum account requirements |
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◘ FXOPEN Promotions |
■ FXOPEN offer a free VPS ■ Small No Deposit Bonus for Micro and STP accounts |
■ A free VPS is hosting for automated trading and Expert Advisors ■ New clients get $10 on the STP account and $1 on the Micro account |
◙ FxOpen.com Review Summary
FXOpen is an ECN/STP Forex broker offering MT4, MT5, mobile trading, and a web-trading platform. Headquartered in Oceania, FxOpen is regulated by FCA UK and FSP and provides full segregation of traders' funds.
◙ FxOpen.com Rating
Rating FxOpen using the Rating Brokers Formula v.5:
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FXOPEN.com RATING ANALYSIS |
RATING |
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| 1. Reliability Analysis | 81.6 |
| 2. Competition Analysis | 64.3 |
| 3. Trading Options | 74.1 |
| 4. Technological Analysis | 100.0 |
| IC FxOpen Overall Rating | 77.6% |
The total rating is 77.6% which is very good. FXOpen performs well in almost all four categories. More at ForexExperts.net:
» Check how FxOpen rating was made at ForexExperts.net
■ FXOPEN.COM Review
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