FXOpen Review

Pros / Cons
  • Tight forex spreads.
  • Oversight by three top-tier regulators
  • Reliable customer service
  • Leverage up to 1:500 for professional clients
  • Free Virtual Private Server (VPS).
  • Limited educational materials.
  • Clients of the offshore entity have few protections.

FXOpen is a forex and cryptocurrency broker that has been operating since 2005, providing trading services to retail and institutional clients worldwide.

1. **Regulation:** FXOpen is regulated by the Financial Conduct Authority (FCA) in the United Kingdom and the Financial Services Authority (FSA) in the Seychelles. Regulation by these authorities ensures that FXOpen adheres to strict standards regarding client fund protection, transparency, and fair trading practices.

2. **Trading Platforms:** FXOpen offers access to a range of trading platforms, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are widely acclaimed for their user-friendly interfaces, advanced charting tools, and automated trading capabilities. Additionally, FXOpen provides its proprietary platform, the FXOpen Trader Mobile Platform, which allows traders to access their accounts and trade on-the-go.

3. **Trading Instruments:** The broker offers a diverse range of trading instruments across multiple asset classes, including forex, commodities, indices, and cryptocurrencies. Traders have access to major, minor, and exotic currency pairs, as well as popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin.

4. **Trading Costs:** FXOpen offers competitive pricing and transparent trading costs. The broker provides tight spreads starting from 0 pips on major currency pairs and offers both commission-based and commission-free trading accounts. Additionally, FXOpen offers various account types with different pricing structures to cater to the needs of different traders.

5. **Account Types:** FXOpen offers multiple account types to suit the preferences and trading styles of different clients. This includes Standard Accounts, ECN Accounts, Crypto Accounts, and STP Accounts. Each account type has its own features, pricing structure, and minimum deposit requirements.

6. **Customer Support:** FXOpen provides dedicated customer support services to assist clients with their inquiries and technical issues. Support is available 24/5 via live chat, email, and phone, ensuring prompt assistance whenever needed. Additionally, FXOpen offers multilingual support to cater to clients from different regions.

7. **Educational Resources:** The broker offers a range of educational resources and trading tools to help traders improve their knowledge and skills. This includes trading guides, tutorials, webinars, and market analysis. FXOpen’s educational materials are designed to empower traders with the information they need to succeed in the forex and cryptocurrency markets.

8. **Reputation:** FXOpen has earned a solid reputation in the forex industry for its reliability, transparency, and commitment to client satisfaction. The broker is trusted by traders worldwide and has won numerous awards for its services and innovations.

Overall, FXOpen is a reputable forex and cryptocurrency broker that provides competitive trading conditions, advanced trading platforms, and excellent customer support. Traders looking for a trusted broker with a wide range of trading instruments and reliable execution may find FXOpen to be a suitable choice for their trading needs.

Founded in 2005, FXOpen provides access to trading in forex and CFDs on commodities, indices, shares, and cryptocurrencies. The London-based broker has an advanced proprietary platform called TickTrader and also offers trading via MetaTrader 4, MetaTrader 5, and TradingView.