As with all brokers, trustworthiness is one of the elements which is of paramount importance to traders. They are regulated in both the UK (FCA), and Australia (ASIC). These two bodies represent two of the most respected regulators in the world of finance. For non-trading fees, the broker charges a percentage fee on almost all methods of deposit and withdrawal. This includes 2.29% on credit and debit card deposits, and 3.5% + 3.50 USD on withdrawals. Part of our testing process involves in-depth research into commissions and fees.
Both the MT4 and MT5 platforms follow industry-standard security requirements, including 128-bit Secure Sockets Layer (SSL) encryption and two-step verification upon login. Anti-money laundering and know-your-customer protocol is adhered to. 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.
With its track record of commitment to innovation and dedicated customer support, FXOpen stands out as a choice for traders seeking a dependable and feature-rich brokerage service. FXOpen is forex and CFD broker offering 600+ instruments using the MetaTrader 4 (MT4), MetaTrader 5 (MT5), TradingView, and TickTrader platforms. The company offers deep liquidity with spreads from 0.0 pips.
Top 3 Alternatives to FXOpen
To learn more about social copy trading (and to see our picks for the best forex brokers for copy trading), check out our guide to copy trading. Traders are constantly on the hunt for low-cost forex brokers – you can learn more about low-cost forex trading by checking out our guide to zero-spread forex brokers. Trading on FXOpen is made easier because traders can add insight into trading by entering contests.
- The team constantly works to improve the broker’s services and offerings and extend them across new regions and borders.
- You can sign up for the demo profile directly via the broker’s homepage.
- This review will cover trading platform features, deposit and withdrawal fees, minimum deposits, and more.
- People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.
FXOpen offers four trading accounts that are designed for traders with different levels of experience and skills. Choose the one that best suits your style of trading, capital, and risk tolerance. Today, the broker is a trusted partner to more than 1,000,000 customers from around 100 countries. FXOpen maintains its mission to provide clients with professional services in trading, analytics, and customer support. FXOpen was the first Forex broker to offer its clients ECN trading via the MetaTrader4 platform.
FXOpen Pricing
For ECN traders, CTrader is the choice due to its fast order execution and simple interface. Additionally, FXOpen WebTrader allows access to trading accounts through web browsers, while Android and iOS mobile trading apps keep traders informed about market opportunities. These excellent platforms demonstrate FXOpen’s commitment to equipping traders with the necessary tools and flexibility.
No carry trade possible on Fxopen.com
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. The minimum withdrawal for bank wire transfer is 50 GBP, USD, or EUR, and for all other methods, the minimum is 10.
This indicates that their spreads and commissions are competitive within the industry. Additionally, they are a leading provider of user interfaces and powerful analytical tools through MetaTrader 4 and 5 platforms. Traders benefit from trade execution, real time market data access and efficient strategy implementation with account options available. FXOpen offers separate client accounts to protect client funds and respects regulatory compliances.
Commissions and Fees at FXOpen
FXOpen offers a $10 no deposit bonus (NDB) for the ECN TickTrader account and the STP PAMM accounts. There is also a $1 welcome bonus for Micro accounts and a ForexCup Trading Contest bonus, subject to demo contest terms and xcritical website conditions. FXOpen offers a free demo account on any of the platform options. You can sign up for the demo profile directly via the broker’s homepage. When we registered for the profile, it took less than two minutes.
Tradable Instruments
Myfxbook and ZuluTrade are supported, two of the highest-rated and easiest to use third-party copy trading platforms on the market. The ECN Model gives traders access to the Interbank market and clients receive real-time quotes from the industry’s largest liquidity providers. FXOpen also xcritical scam provides its economic calendar and market news updates courtesy of FXStreet. The available options in both categories are quite sufficient for both new and experienced traders, although considering the brokers original background in forex education, traders may expect a little more.
When we used the FXOpen bespoke platform, we were impressed with its simple navigation, fully customizable experience and clear price analysis charts. We are confident the platform provides all the features needed for both beginners https://xcritical.solutions/ and experienced traders. I am a Professional Forex trader i have been trading in the ECN accounts of FXOpen from the last 10 Years with Success. As i can see the income i am getting from my trades is good with them.
At BrokerNotes.co, our data-driven reviews of online brokers are based on our own extensive testing of each broker’s products and services as well as the qualified observations of our expert editorial team. In conjunction with our sister site, ForexBrokers.com, we’ve published well over 100,000 words of research and collected thousands of data points across hundreds of variables. Our in-depth trading guides are created with the same rigorous, data-driven approach. Yes; in case you were wondering, 78% of the brokers reviewed on BrokerNotes.co offer copy trading.