FXOpen Review 2023 Verified Customer Reviews

There are 3 PAMM accounts in FXOpen, namely STP, ECN, and Crypto PAMM. When a beginner eventually wants to test the waters, there is a micro account that they can use to trade with a small deposit and minimize their risks. When you finish, you will see the registration data for your new trading account. Before you can start trading on a live account, you will have to fund your trading account via any available payment systems in My FXOpen.

  • FXOpen caters to traders of all experience levels by providing several trading platforms.
  • For major forex pairs including EUR/USD and GBP/USD, spreads averaged around 0.2 pips, whilst for EUR/GBP, spreads were offered at 0.5 pips.
  • Unfortunately the PAMM service is not xcritically available for AU residents.

When we used FXOpen’s platforms, we were pleased with the relevant device compatibility. All terminals can be used directly through major internet browsers as a webtrader, downloaded to desktop devices or used via mobile apps. FXOpen does not offer much in the sense of educational material to help first-time traders. In the FXOpen Help tab, there are xcriticals to submit tickets and explore the Knowledge base. FXOpen does not offer much in the sense of research tools to assist traders with their trading. Forex trading, also called currency or FX trading, involves the currency exchange market where individuals, companies, and financial institutions exchange currencies for one another at floating rates.

ECN and STP trading accounts are the primary options for day traders. A good broker constitutes a good service for traders in terms of many criteria including trading instruments,
deposits and withdrawals, as well as customer support. What is good for a certain trader does not necessarily
mean the same thing to you. You can decide for yourself if
FXOpen is a good broker for you or not by reviewing the criteria. In general,
FXOpen provides trading service in
Forex , Gold & silver , CFD , Oil , Stocks , Indexes , Energies , Crypto and Crypto . As for the payment methods, you can choose between
Wire transfer, Credit/debit cards, FasaPay, Crypto, Litecoin, Ethereum, Crypto Cash, Tether (USDT), WebMoney and AdvCash.

CFD Trading Details

The minimum withdrawal for bank wire transfer is 50 GBP, USD, or EUR, and for all other methods, the minimum is 10. There is no maximum withdrawal limit for bank transfers, but for card withdrawals, the limit is set at 15,000 GBP, USD, or EUR. Withdrawal times for bank wire transfers typically take one to three business days, whilst card payments can take between two to five working days. For cards, the limit is 15,000 (GBP, USD, or EUR) and for e-wallets, maximum deposits are either 10,000 or 20,000. FXOpen also permits virtual prepaid cards for new clients. The calculator uses real-time quotes and your account’s equity and leverages in all calculations.

As you mentioned, FXOpen UK is regulated by the FCA and as such, there are certain criteria that all clients have to meet for a live account to be opened. After assessing the answers you provided in the questionnaire, unfortunately you did not meet the criteria required to open a live account. If your circumstances change in the future and you are able to provide all of the required documentation, please reach out to our Support team and they would be happy to reconsider your application. Trading with FXOpen i have found very low spreads as it is a Pure ECN Forex broker as compared to the other brokers who are Market Makers. FXOpen also offers the Inter Bank Market Liquidity which is why i am able to execute my trades very Fast. In semi-retirement / lockdown, I decided to learn to program again, and came across the MQL4 programming language.

FXOpen is a trustworthy platform

For cryptocurrency CFD accounts, the commission is 0.5% per side. Trading fees vary depending on account type and instrument. Individuals investing via the ECN profile will trade on the raw price from banks and liquidity providers, and with this, pay a small commission fee. On the other hand, STP account holders will incur no separate commission fee. The award-winning live trading platform has 30 million monthly traders and offers a suite of useful tools. This includes powerful charts and analysis functions, screeners, heat maps, and an economic calendar.

Have been with fxopen uk for a year…

It’s all there on their website, all the technical stuff about ECN brokers and the reasons why that approach makes good sense, knock yourself out. A few server delays here and there, as it is the same with other brokerage firms. IT is immediately on it and fixes tech issues once the customer https://xcritical.pro/ reports them. Thank you for your review and for sharing your experience with our Customer Support team. Based on the details you have provided, we are xcritically looking into this matter. If you require any further information or assistance, please don’t hesitate to contact us at

Available Leverage

The latest news increase the leverage is a good one, i think FXOpen now constantly make services more effective for their clients which is very good news. Compare FXOpen with the top 3 similar brokers that accept traders from your location. You can trade on major global indices, FX, commodities, ETFs, shares xcritical and cryptocurrency. There are no bonuses or promotions for traders located in the UK or EU, aligned with ESMA restrictions on financial incentives. The ECN or STP demo server will remain accessible as long as you log in each month. You can then upgrade to a live real-money account when you’re ready.

Low spreads and High Liquidity Broker

In 2006, FXOpen also became the first broker to offer a micro account and a swap-free account. This is a brand-new trading platform that allows clients to trade five asset classes — forex, stocks, commodities, indices, and cryptocurrencies — using one trading account. It facilitates both margin trading and deliverable trading, which is achieved either directly through the platform or via a FIX, REST, or WebSocket API.

FXOpen ECN accounts ensure instantaneous and error-free order execution at the best prices from more than 10 banks and other liquidity providers (LPs). FXOpen was the first broker to offer its clients direct access to Interbank liquidity and ECN trading via the MetaTrader4 terminal in 2009. Forex MT4 capacities have been extended and supplemented by FXOpen’s own revolutionary solution, Liquidity Aggregator. FXOpen supports its clients by providing numerous promotions and bonuses. All you must do to qualify for this is to register for an FXOpen eWallet and open a real trading account. CFD trades on other markets have no commission but do wrap a spread around the market price of a certain instrument.

There is no need to download and install MetaTrader4 or other additional trading software on your computer. All you need is a stable Internet connection, log in to your trading account and start trading. For FXOpen’s STP and Micro accounts, you need a different modification of MT4.

After speaking to our Customer Support team, I understand that we were unable to verify your account with the documents you provided and requested further details from you. FXOpen have certain verification xcriticals and document requirements that we must comply with. Opening and verification xcritical scammers of my account was easy and fast.I had some questions about transfering money. A helpful person answered all my questions and after that all went well. Clients of FXOpen are able to add a MT5 demo account simply by logging into their account and selecting ‘add account’.