FXOpenFXOpen

FXOpen  Review | FXOpen Forex Broker | FXOpen Metatrader

Mini Account:

  • minimum deposit: $1
  • minimum lot size: $100
  • max leverage: 1:500

Standart Account:

  • minimum deposit: $25
  • minimum lot size: 100k
  • max leverage: 1:500

ECN/STP Account:

  • minimum deposit: $1000
  • minimum lot size: 100k
  • max leverage: 1:500


Editor`s vote

3.9

Traders` vote

3.1

Headquarters:  N/A

Country: Cyprus

Regulated by: Mauritius FSC

Website: FXOpen.com

Spread

Fixed spreads;
Typical spreads:
EUR/USD -2 | GBP/USD - 3 | USD/CHF - 3 | USD/JPY - 2

Pros

Cons

Fixed spreads

Low spreads

No commissions 

No 

 

 

 

Slippage

Pros

Cons

No slippage under normal market conditions

 

Slippage during news releases

 

Requotes

Pros

Cons

No requotes under normal market conditions 

Some requotes during news releases 

Price feed

Pros

Cons

No spikes

No stop hunting 

N/A 

 

 

Platform

Pros

Cons

Metatrader 4.0

Very intuitive and easy to handle

Decent charts

Autotrading

Custom indicators

Mobile ready 

Trailing stop is server based

No Web Platform

 

 

 

 

Deposit/Withdraw

Deposit

Withdraw

Deposit Withdraw
Bank wire 
WebMoney   
PerfectMoney
E-gold
C-gold
AlterGold
Liberty Reserve
CashU
E-Bullion
AlertPay

Deposit Withdraw
Bank wire 
WebMoney   
PerfectMoney
E-gold
C-gold
AlterGold
Liberty Reserve
CashU
E-Bullion
AlertPay 

Customer service

Pros

Cons

Customer Service reps are aways ready to help

Phone

Live chat

E-Mail 

Skype

ICQ

Yahoo Messanger

No

 

 

 

 

 

 

Summary

Pros

Cons

$1 minimum deposit
Low fixed spreads
Decent price feed
Metatrader 4.0 

ECN

No regulation (Mauritius?)


 

 

Traders` reviews for FXOpen Add you review

cda08, 11/22/2009

Me and my mind all together working and calculating to gain some pips, it's not knifing upon butter, yep I knew it, atleast I succeed to maintain some gaining after 8 trades.
In the mean time I did some forum posting, when the price came to my palm so I re-entered in trading. after gaining cents, i thought if I have a Standard A/c, so why not? after 2 days I opened an Standard A/c, and am succeed to trade within a min after depositing money from my AP. At previous, I really forgot how hours/mins it took to see my first micro deposit in my A/c, but Now it's time to realize that How fast Fxopen's internal system works, I added fund and have seen within a seconds.

Am Glad to see how fast it is, Am impressed by seeing my money within a few seconds in my Std A/c.. Actually, . I didn't have any idea or imagination that How much an overseas Inc could do for her Client/s, But yes, Fxopen does it so well. Fxopen's Back-office personnel gained My respect perfectly .A HUGE Thanks to Fxopen.

(2) (1)

cda08, 11/22/2009 ,

I must say that Fxopen is second to non, I´ts a great broker if you want to make small deposits. The money is available to be withdrawn at any time. Other brokers don´t allow to withdraw the initial deposit before a month, only the profits, I want to Give 5 stars for customer service/withdraw procedures. After confirmed I got my payment within 6hrs,
That’s Not just A Payment, That earned me My respect to my family, Now I the main eye pops in my family, All of that happen after receiving Payments From Fxopen. So to me Fxopen is not just a broker, It’s a part of My Heart. see My entire Reviews here at : http://forum.fxopen.com/showthread.php?t=62608

(3) (0)

GTR, earnforex.com, 11/01/2009 ,

Hello everyone, I like to post some words about that company. I have both, MarketMaker account with 20K , ECN with 20K and ECN PAMM with 5K with FXOpen.

1) Deals executing is much better at ECN accounts, ECN almost instant, MM (Market Maker) several seconds, got several requotes during the news but still ok for MM.
2) Can see see my limit orders in Level 2, very good sign (difficult to find real ECN on MT)
3) Deposit is extremly fast, withdrawal to my bank was completed during the working day, I think that is good, most of companies do this longer (for your information I deposited 10K first, made several trades and ordered all for withdrawal to test this company).

I pretty much enjoy them at the moment, especialy ECN trading. Anyone can check my trading activity with FXOpen ECN PAMM account, just go to FXOpen forum and find GTR Power PAMM thread.

(2) (0)

Tingtong, FPA forum, 11/01/2009 ,

So far: i didint have yet any real problem with them to complain.
My deposit was promptly added to account, as well as the bonus.
My internal transfers went smooth between accounts too...done in couple of hours ( suspect due their work hours, what is normal).

The spreads are fixed, and they are ok in term of competitiveness to some other brokers.
The support was so far always helpful, and fast in answer, tried all, email to manager, to their finance, and also the forum.

I personally didnt have any loss due downtime of server, they said to solve these cases, i didnt have yet any to know.
Also didnt have any dispute about any of my closed trades ever. period.
And i do trade frequent, as do scalps too, and they dont have any problem with those neither.

(2) (0)

Harjono, FPA Forum, 11/01/2009 ,

I have made profit $600.but they have avoid and I get this email from fxopen



Hello,

your account was closed due to arbitrage trades.

You can withdraw your deposit.

--
Best regards,
FXOpen

(0) (2)

Abdul Malek, earnforex.com, 11/01/2009 ,

Real trading with fxOpen (started 11 August 2009).

Trading log:

-11/8 Deposited 900 USD, then my balance down to 236USD on 20/8/2009 - All because of my mistake for not patient enough.
-26/8 Balance increase to 429 due to carefull trading. On the same day i deposited 400 to increase my capital.
-23/8 FXOpen deposit a top 20 bonus worth 50USD and my balance is 1504
- 8/9 fxOpen deposited 100 for 10 lot bonus and my balance on that day is 1399 because of wrong entry. Its ok to lost several trades.
-25/9 highest profit of 1352. Balance 5802
-25/9 First withdrawal 1K using Liberty Reserve. Money already in the bank on 26/9

Balance after withrawal is 5676. Hope to withdraw another 1K in few days.

Conclusion:
At the moment, FxOpen is a good broker. Deposit fast and withdraw in less than 24 hours. Mt4 terminal is good although some delay in entering, closing and refreshing the balance after closing the trades. Hope their admin will look into this matter. I\\\'m using robot most of the time because i have other job to do. For now the profits are 400 to 500 on average (of course some trades i lost 300 to 500). To all traders, do your trades in manners. Avoid hedging and other wrong methods that will make your broker terminate your account.

Hope this review will help those who like to open an account with this broker.For my self, FxOpen is not a scammers.

(3) (0)

Rashi , 09/19/2009 ,

i am from India and wanted to open an account with Fxopen after seeing some good reviews on the net. i have been trying to ask about a few doubts from the live chat but it does not work. it is always 'busy'. the first authentic step for a company is to have at least the live chat working. bad handling really! i don't know how have these guys got good reviews. probably fake. how can anyone contact them?

(0) (2)

Victor, Earnforex.com, 09/12/2009 ,

Coming into FXOpen is like coming into my familly. So much incentives to trade. I feel overwelmed
After I deposited my first $100, my account was credited instantly with another $25
I am getting $25 for every 100 posts I make in any section of the forum
And now additional $50 for making up to 1000 posts
I got $100 for making 10 lots accumulative trade
Thats why I opened 9 bonus accounts so that I could repeat this feat. They allow for up to 10 bonus accounts
Customer Support = Excellent
Money Deposit & Withdrawals = Fast

(2) (0)

Jefrey, FPA, 08/27/2009 ,

I am satisfied from my cooperation with FXOpen because I see that they follow all business and ethical rules pay money back with no delays and don't stop profitable traders.

(2) (0)

Vytautas, Earnforex.com, 08/27/2009 ,

If you are looking for alternative of US based company and something very simple and really cool choose FXOpen. Their ECN conected to huge liquidity provider and we can use it with very fair conditions just 1K to start and on MT4! I give them a try since have many good reviews from my friends.

(2) (0)

Peter Korniawan, FPA, 08/27/2009 ,

Nice broker, have been trading here for 2 years, and no problem at all. And in Indonesia, there is an IB (FXInd.com) that can help me on all my problems, good support.

(2) (0)

Ismail, Earnforex.com, 08/27/2009 ,

Since that all our local brokers just bucket shops I decided to switch to FXOpen. I have very good responses from my friends trading with different companies. I think that world crisis will destroy most of brokers and FXopen looking very strong among others.Anyway I start from 5000 and we will see how it will go so far 1 week no any problems. And p.s. I want want to thanks russian supporter Nadya form FXOpen for helping me in funding.

(2) (0)

Mike, FPA, 08/27/2009 ,

I have to agree with Brian. Tons of price manipulation, REQUOTE HELL!! I mean, I am trying to scalp on the asian session, forget it! My robot put an order in and it was pending for three minutes before I got a requote. This has happened to me several time. I think they are honest people when it comes to withdrawing money, etc... etc... but their execution is simply horrible, and that is why I gave them 2 starts. Otherwise I would have gave them just one.

(0) (1)

Yanek, Earnforex.com, 08/27/2009 ,

Trade wit FXOpen one year already.I got 1 problem in last week when they had server down but I need to say that they fix everything I asked and even several pips better then I expected. good job from them.

(2) (0)

Segun Akinbobola, 08/27/2009 ,

I was quite scared going live with FXOpen, but decided to give them a try but to my surprise, their server speed was extremely super about 1-2 second maximum to place my trade on their server, and i have been making consistent profit using my ea with them, i have never experience they trade against me, I am quite happy now that finally i have gotten a very good broker with no swap, cheap spread, amazing server speed. thank you very much fxopen, but have not made any withdrawal yet, whatever any future experience i have with fxopen i will always come back and post here. FPA crew thank you very much for this opportunity you've given all traders to know the kind of broker we can use for our trading success.

(2) (0)

Alfred, Earnforex.com, 08/27/2009 ,

There are many brokers in market so when I entered the market I started with Oanda, the most popular broker in the USA. Making good money trading
with Oanda I thought to open one more account with some other broker with metatrader 4 software.
One of my friends suggested me of FXopen. When I searched on the internet about this broker I found that it has many clients already
and their services are quite good. Now I am trading with both of the brokers.

(4) (0)

Brian, FPA, 08/27/2009 ,

These guys entice you with nice pip spreads, and high lot sizes, however, connection from the U.S. is horrible, their server crashes, and I have actually seen their demo price feed simply stop, while any trade you have open still reports as the price changes. And since the price feed stops, any script or ea you have running is toast. You put through a trade, only to wait... and wait... and as the price moves, you're wondering about your trade, and you notice you can't put through any other trades. And then finally the trade will show up hours afterwards, opening at the price you requested hours before, while your trade is hundreds of pips against you. Of course, if it's in your favor, REQUOTE! LOL Extremely shady, and unreliable. You've been warned!

(1) (2)

Clark, 08/27/2009 ,

This isn’t a real FXOpen review, but I’ve just got $1600 from them. My profit since January. Their withdrawal by wire works like a charm.

(1) (0)

Josef, Earnforex.com, 08/27/2009 ,

I agree very much with u Gilberto.
I transferred 200 USD to my forex account , just as a test. this was done since 15th Jan. Till today, it has not reflected on my trading account. i have tried calling fxopen but each time the lady says she cannot hear me then the line cuts.

(0) (1)

Carlie, FPA, 08/27/2009 ,

At first everything started well and I was fairly comfortable with these people (have nine consecutive winning trades) until I started to lose, for sure you will lose this is trading. After taking a closer look I then realize my technical indicators was not making any sense with the feed (Price movement), Then I discovered the problem. Antonio and Claude you guys are both right, It happen to me as well and I have proof of this, It happen with the EUR/GBP pair on 2/20/09 within the first 30 minutes of trading. The feed was well above 0.8862(over 25 pips) while the feed(price) from two other brokers (GFT, FXDD) never when beyond the .08862 level within the first hour of trading .( i.e Technical indicator is of no use with bad feed like these). These people are THEIVES stay FAR FAR FAR away from them and let everyone you know that trade the forex market to do the same.
P.S I have nothing to gain by posting this, I wish someone would have warn me in advance I am just trying to let people aware of the unfair behavior from these people to cheat people of there hard earn money.

(1) (1)

Hydro, 08/27/2009 ,

Trading with them live sind almost half a year now. Spreads are ok, order execution time ok, support (chat) brilliant. Can only recommend this broker. Would also like to see credit card funding - but there are good alternatives.

(2) (1)

Gilberto, Earnforex.com, 08/27/2009 ,

I do not recommend this Broker. It is easy to open one account, they are fast to respond e-mails but just it.
Since 15 days ago I have transfer more funds to my account but until now no funds in my account.They respond quick all E-mails, but no one know about my money, just disappear!!!.I do not recommend this Broker. It is easy to open one account, they are fast to respond e-mails but just it.
Since 15 days ago I have transfer more funds to my account but until now no funds in my account.They respond quick all E-mails, but no one know about my money, just disappear!!!.

(1) (1)

Odusoga Ayobeji, FPA, 08/27/2009 ,

I have been trading with FXOPEN for about 3months and would like to recommend them to other traders. I had a problem with their sytem when my take profit was hit and over by 5pips but was not executed. I complaint about it and after doing their in house investigation, the trade was corrected.

(2) (1)

anang, 08/27/2009 ,

THIS FOREX IS SCAM DON'T TRUST EVERYONE ..

CYRUS and adam may be clone

look out my screenshoot
http://www.postimage.org/Pq1O46kA-05065423c85e5728aaa07141fe2c2dcd.jpg

(0) (2)

Valdas, Earnforex.com, 08/27/2009 ,

I found this broker on forex-tsd forum.They are professional in problems solving and also they have good website with free analysis which is usefull for me.I think it is nice broker for green traders like me because they support micro accounts and have very fast financial services system so no need to wait weeks to start trading or deposit.

(2) (0)

Jackie, FPA, 08/27/2009 ,

I didn't find weak points so far except regulation but it is like the coin of two sides , stronger regulation and weaker trading conditions and oposite. Ok about my trading experience I need to mention that I trade 4 to 6 lots yena's croses and looks like they have enough liquidity to cover so maximum 5 seconds for orders to be executed, I have to mention that they instaled Hong Kong server so it gives some extra speed which helps during the news.

(2) (0)

Adam Cohen, 08/27/2009 ,

I have been trading live with FXOpen for more than a year. Their spread remained ‘fixed’ even in the most volatile periods of the last year. All my four withdrawals have been paid. FXOpen also allows using EA and custom technical indicators in MetaTrader. I highly recommend this broker. My only criticism is that they do not support direct credit card funding.

(2) (0)

Forexstartrader, 08/27/2009 ,

FXOpen comes with fixed spreads of 2 to 4 pips for the major currency pairs. You only need a bare minimum of $1 for a micro account and $25 for a standard account, though FXOpen recommends that you start with $300-$500. Beginners can open a free demo account and start practising within 15 secs of filling up a simple application form.

(1) (0)

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