FXOpen is a reputable online broker that has been in the industry for over a decade. The company offers its clients access to Forex and CFD trading services through various trading platforms, including MetaTrader 4, MetaTrader 5, and WebTrader.

FXOpen offers a range of trading account types, including ECN, STP, Micro, and Crypto. Each account type has its own unique features and benefits, allowing traders to choose the account that best suits their trading needs. Additionally, the company offers competitive trading conditions, such as low spreads, high leverage, and fast execution speeds.

FXOpen also provides its clients with a range of educational resources and trading tools to help them improve their trading skills and make informed trading decisions. These resources include market analysis, economic calendars, and trading calculators.

FXOpen Pros & Cons

Pros:

• Wide range of trading accounts to choose from, including ECN, STP, Micro, and Crypto accounts
• Competitive trading conditions, such as low spreads, high leverage, and fast execution speeds
• Availability of a range of trading platforms, including MetaTrader 4, MetaTrader 5, and WebTrader
• Comprehensive educational resources and trading tools, such as market analysis, economic calendars, and trading calculators
• Secure and reliable trading environment with advanced security measures in place

Cons:

• Limited range of tradable instruments compared to some other brokers, with a focus on Forex and CFDs
• Limited customer support options, with only email and live chat available
• Limited availability of trading promotions and bonuses compared to some other brokers
• No negative balance protection, which means that traders may potentially lose more money than their account balance in the event of significant market volatility.

Who Is FXOpen Recommended For?

FXOpen may be recommended for a range of traders, including those who:

1. Are interested in trading Forex and CFDs: FXOpen has a strong focus on Forex and CFD trading, making it a suitable option for those interested in these markets.
2. Want access to a range of trading accounts: FXOpen offers a variety of trading accounts, including ECN, STP, Micro, and Crypto accounts, making it suitable for traders with different experience levels and trading needs.
3. Prefer to use MetaTrader trading platforms: FXOpen supports the popular MetaTrader 4 and MetaTrader 5 trading platforms, making it a suitable choice for traders who prefer these platforms.
4. Seek competitive trading conditions: FXOpen offers competitive trading conditions, such as low spreads, high leverage, and fast execution speeds, making it attractive to traders who seek these features.
5. Value comprehensive educational resources and trading tools: FXOpen provides a range of educational resources and trading tools to help traders improve their trading skills and make informed trading decisions.
6. Are looking for a secure and reliable trading environment: FXOpen has advanced security measures in place to ensure a secure and reliable trading environment.

Account Options

• Broker Type: No Dealing Desk
• Minimum Deposit: $300
• Maximum Leverage: 500:1 (for FXOpen International clients and Professional clients)
• Scalping: Yes
• Hedging: Yes
• Free Demo Account: Yes
• Traders From USA: No

Top FXOpen Features

1. Auto-Trading: FXOpen’s Myfxbook AutoTrade allows traders to automatically copy the trades of successful traders in real-time. This feature can save time and effort for traders who wish to follow the strategies of other successful traders. FXOpen only pays a fee to the strategy provider when they make profitable trades, which aligns the interests of both the strategy provider and the follower.
2. PAMM accounts: FXOpen’s Percentage Allocation Master Module (PAMM) allows clients to invest in the trading strategy of successful traders known as “Masters.” The Masters operate their own funds through PAMM, and the client’s account replicates the trades of the Master. PAMM accounts are suitable for those who want to invest in Forex without having to do research and in-depth work. The Master can trade funds far larger than their own capital and receive a fee for doing so.
3. Forex Contests: FXOpen offers Forex contests like the ForexCup Trading Championship, which provides clients with the opportunity to win prizes while trading Forex. The ForexCup Trading Championship is open to anyone with an active ECN account, and the person with the most profit at the end of the competition wins the top prize.
4. Demo Account: FXOpen offers a demo account for clients who want to practice trading with virtual currency before signing up for a live account. The demo account is easy to register for and allows traders to gain valuable experience with no risk.

FXOpen Account Types

FXOpen offers a range of account types to suit different trading styles and preferences. The following are the available account types, along with their features and specifications:

1. ECN Account: This account is suitable for traders who prefer direct market access and no dealing desk intervention. It offers the best prices, spreads, and execution, with no restrictions on trading styles. There are two types of ECN accounts available on TickTrader, and the maximum available leverage varies depending on the jurisdiction. The minimum deposit required to open an ECN account is $300, and commissions per trade start from $1.5 per standard lot.
2. STP Account: This account is designed for traders who prefer straight-through processing and no dealing desk intervention. It allows for auto-trading, expert advisors, scalping, and hedging, with high leverage available depending on the jurisdiction. The minimum deposit required to open an STP account is $10, and there are no commissions per trade as it is included in the spread.
3. Micro Account: This account is denominated in US cents and is suitable for traders with small initial deposits and transaction sizes. It has low margin requirements and similar trading conditions to the STP account, with up to 1:500 leverage available. The minimum deposit required to open a micro account is $1, and there are no commissions per trade.
4. Crypto Account: This account is designed for traders who wish to trade cryptocurrencies. It aggregates liquidity from top liquidity providers and offers order execution based on ECN aggregation. It has a minimum deposit requirement of $10 and allows for up to 1:3 leverage. Commissions per trade are 0.5% half-turn, and the account is available in several currencies, including BTC, EOS, Ripple, Monero, LTC, and BCH.

All account types offer swap/rollover-free trading and support copy trading. Demo accounts are available for all account types except for the Crypto account.

Trading and Investment Tools

Social Trading

FXOpen’s social trading platform, called Myfxbook AutoTrade, allows traders to follow and copy the trades of other successful traders. This feature can be particularly useful for beginner traders who want to learn from experienced traders’ strategies and trading styles. It can also be a helpful tool for busy traders who don’t have time to analyze the markets themselves.

Trading Calculators

FXOpen offers a range of trading calculators, including a margin calculator, pip value calculator, profit/loss calculator, and currency converter. These tools can help traders make informed decisions about their trades and manage their risk effectively.

Trading Signals

FXOpen’s trading signals provide traders with buy and sell signals based on technical analysis. These signals can be used as a guide for traders who want to make their own trading decisions, or they can be fully automated using FXOpen’s trading robots.

One-Click Trading

FXOpen’s One-Click Trading feature allows traders to execute trades quickly and easily with just one click. This feature can be particularly useful for scalpers and day traders who need to enter and exit trades quickly.

Multi-Account Manager

FXOpen’s Multi-Account Manager (MAM) is a tool for professional traders who manage multiple accounts. It allows traders to manage multiple accounts from a single interface and execute trades on behalf of their clients. MAM also provides detailed reporting and analysis of trading activity across multiple accounts.

Regulation and Security

FXOpen is a regulated broker and maintains strict security measures to protect its clients’ funds and personal information. The company is regulated by the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) in Australia, the Financial Services Commission (FSC) in Mauritius, and the Financial Services Authority (FSA) in Saint Vincent and the Grenadines.

FXOpen also uses advanced security technology to protect client accounts, including SSL encryption for online transactions and two-factor authentication for logging into accounts. Client funds are kept in segregated accounts with trusted financial institutions to ensure maximum security and transparency.

In addition, FXOpen is a member of the Financial Commission, an independent organization that provides dispute resolution services for the forex industry. This further demonstrates FXOpen’s commitment to upholding high ethical and professional standards in its operations.

Conclusion on FXOpen

In conclusion, FXOpen is a well-established and reputable online forex broker that offers a wide range of account types to suit different trading styles and preferences. The company is regulated by respected financial authorities in different jurisdictions, providing clients with a sense of security and peace of mind.

FXOpen provides its clients with access to various trading platforms and tools, including the popular MetaTrader 4 platform and a range of trading and investment tools to help traders make informed decisions. The broker also offers competitive spreads, low commissions, and fast execution speeds.

Overall, FXOpen is a reliable and competitive forex broker that offers a comprehensive range of trading services and features. Whether you are a beginner or an experienced trader, FXOpen has something to offer.