FXOpen, a veteran in the trading world since 2005. This broker has come a long way from its humble beginnings as an educational center to become a major player in the forex and CFD markets. With a trader-centric approach, It offers a range of attractive features like low-cost trading, high-leverage options, and access to over 600 markets. Whether you're a seasoned pro or just starting out, FXOpen has something for everyone with its tailored trading accounts and advanced ECN technology. Plus, with multiple regulatory licenses under its belt, you can trade with peace of mind.
📊 Starting with an Introduction to FXOpen
FXOpen is a global forex and CFD broker that has been operating since 2005, offering online trading services across multiple asset classes. The company was founded as an educational center in Egypt before expanding into brokerage services.
FXOpen's primary headquarters appears to be located in St. Vincent and the Grenadines, with regulated entities in several countries including the UK, Australia, and Cyprus. The company is led by CEO Denis Peganov, who serves as the Director of FXOpen NZ Limited.
The broker has gained recognition in the industry, winning several awards for its services and innovative approach to online trading.
| Key Feature | Details |
|---|---|
| Headquarters Country | United Kingdom (London) |
| Regulation | FCA (UK), ASIC (Australia), CySEC (Cyprus) |
| Products | Forex, Indices, Commodities, Shares, Cryptocurrencies |
| Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), TickTrader, TradingView |
| Account Types | ECN, STP |
| Minimum Deposit | From $10 (STP), $100 (ECN) |
| Spreads | From 0.0 pips (ECN accounts) |
| Commissions | From $1.50 per lot (ECN accounts) |
| Max Leverage | Up to 1:500 (may vary by regulator and account type) |
| Education | Economic calendar, market analysis, trading guides |
| Research | Daily market commentary, news from top-tier sources |
| Customer Support | 24/5 via live chat, email, phone |
FXOpen Trading Platforms
FXOpen understands that the right trading platform can make all the difference in a trader's experience. That's why they offer a variety of options to suit different preferences and trading styles.
- MetaTrader 4 (MT4)
The MetaTrader 4 platform remains one of the most popular choices among forex traders worldwide. It offers this tried-and-true platform, which is known for its user-friendly interface and robust features. MT4 is available on desktop, browser, and Android devices, making it accessible for traders on the go.
- MetaTrader 5 (MT5)
As the successor to MT4, MetaTrader 5 offers additional benefits while maintaining a familiar interface. It's a multi-asset platform that allows traders to access a wider range of markets. Like MT4, it's available on desktop, browser, and Android devices.
- TickTrader
FXOpen's proprietary platform, TickTrader, is a technologically advanced multi-asset trading platform designed for demanding traders. It offers a range of features and is available on desktop, browser, iOS, and Android devices.
- TradingView
For those who prefer advanced charting capabilities and social trading features, It offers integration with TradingView. This powerful platform is available on desktops and browsers.
Account Types
FXOpen caters to different trading styles and preferences by offering various account types. The two main categories are ECN (Electronic Communication Network) and STP (Straight Through Processing) accounts.
| Feature | ECN | STE |
|---|---|---|
| Spread | Floating, from 0 pips | Floating |
| Commission | From $1.50 per lot | Included in spread |
| Minimum deposit | $100 | From $10 |
| Maximum balance | No limit | No limit |
| Leverage | Up to 1:1000 | Up to 1:500 |
| Market execution | Yes | Yes |
| Hedging | Allowed | Allowed |
| Scalping | Allowed | Allowed |
1. ECN Accounts
ECN accounts offer raw pricing from banks and liquidity providers, with traders paying a small commission. This is often the most cost-effective option for high-volume traders.
Key features of ECN accounts:
2. STP Accounts
STP accounts have the commission included in the spread, making them ideal for novice traders who prefer simpler pricing.
Key features of STP accounts:
Asset Classes
It offers a diverse range of trading instruments across multiple asset classes, allowing traders to diversify their portfolios:
- Forex: A wide selection of currency pairs
- Stocks: CFDs on shares of global companies
- Indices: Major global stock indices
- Commodities: Including metals and energy markets
- Cryptocurrencies: Various crypto CFDs
💸 Deposits and Withdrawals
FXOpen offers a diverse range of deposit and withdrawal options to cater to its global clients. For deposits, traders can use wire transfers, credit cards (Visa and Mastercard), and various e-wallets and online payment systems.
The broker emphasizes that all deposits should be made from accounts in the trader's name, as third-party payments are not accepted. When it comes to withdrawals, They provide similar options, including wire transfers, credit cards, and e-wallets.
The company processes withdrawal requests received before 12:00 GMT on the same business day, with those received later being processed on the next business day. While most e-wallet and cryptocurrency withdrawals are processed within 24 hours, bank transfers may take up to 3-5 business days.
It's worth noting that FXOpen charges fees for certain withdrawal methods, such as a flat $50 USD fee for bank wire transfers and a 2.5% fee for credit/debit card withdrawals.
To enhance user experience, FX has introduced commission-free deposits for various payment methods, including credit/debit cards and several e-wallet options.
This feature allows traders to allocate more funds towards trading or investment rather than transaction costs.
As with any financial transaction, users are advised to check the MyFXOpen area for the most up-to-date information on available funding options and associated fees.
Popular Queries FXOpen
What leverage can I trade with at FXOpen?
FXOpen offers leverage up to 1:500 on forex, up to 1:100 on index CFDs, up to 1:500 on commodity CFDs, 1:5 on share CFDs, and 1:3 on crypto CFDs across MetaTrader 4, MetaTrader 5, and TradingView platforms.
Does FXOpen offer PAMM trading?
Yes, FXOpen INT offers PAMM ECN or PAMM STP accounts.
How do I log in to TradingView to trade with FXOpen?
Log in to TradingView, select Trading Panel > Click See All Brokers > Select FXOpen and click Connect.
What trading platforms does FXOpen offer?
Can I trade cryptocurrencies with FXOpen?
What is the minimum deposit required to open an account with FXOpen?
📊 The Bottom Line
FXOpen has consistently prioritized trader-centric services, offering true ECN technology to eliminate conflicts of interest and ensure transparent trading conditions. The platform's commitment to low-cost trading, ultra-fast execution, and a wide array of trading strategies makes it an attractive option for both novice and experienced traders. With access to over 600 markets and advanced trading platforms like TickTrader, MetaTrader 4, and MetaTrader 5, FX empowers traders to explore global opportunities with confidence and flexibility.
