FxOpen group includes 3 related companies.
FxOpen AU - located in Australia, regulated by Australian Securities and Investments Commission (ASIC).
FxOpen UK - located in the United Kindom, regulated by the Financial Conduct Authority (FCA).
FxOpen SKN - legally registered entity located in Saint Kitts and Nevis, but not regulated by any government agency.
FxOpen is also a member of The Financial Commission (FinaCom), an independent organization that resolutes disputes.
Be aware, UK company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
Unfortunately, AU company also has been imposed with trading leverage limitations by ASIC since the end of March 2021.
At the same time, SKN company accepts European and Australian traders, so one can open a trading account there.
FxOpen group accepts clients from all over the world, excluding USA and some countries where restrictions apply.
Forex broker offers the following underlying assets for trading.
|50+ Currency Pairs||Based on major and minor world currencies.|
|43 Crypto Pairs||Based on Bitcoin, Litecoin, Ethereum, Dash, Emercoin, Namecoin, Peercoin, Ripple, Monero, EOS, IOTA, NEO, OMNI.|
|13 Indice CFDs||Based on baskets of different blue-chip stocks.|
|2 Metal Spot CFDs||Based on Gold and Silver.|
|3 Energy Spot CFDs||Based on Crude Oil (WTI, Brent) and Natural Gas.|
FXOpen is an online CFD broker founded in 2005 as the first Sharia compliant forex brokerage in the world, at the time serving mainly Middle Eastern clients out of its Egypt headquarters. Today, the broker is present in all parts of the world with entities registered locally in Sydney, London, Moscow, and in Saint Kitts and Nevis.
The broker is regulated separately in all four jurisdictions it operates from, which means that it is overseen by some of the leading regulatory bodies in the world, including the Financial Conduct Authority (FCA) in the UK and Australian Securities and Investments Commission (ASIC) down under.
As usual, trading conditions and the maximum leverage allowed will vary from one branch of the broker to another, and traders are assigned to the branch that covers their geographic area. Using a VPN, however, it is possible to access the website of other branches for traders seeking for example higher leverage.
Moving over to the customer experience, we feel that FXOpen’s website offers users a clean and fresh interface. It comes with a live spread table showing the bid/ask spread of major forex pairs, as well as a convenient comparison table where live spreads are compared to other well-known forex brokers. According to the comparison, FXOpen generally compares well with other brokers, offering fairly tight spreads on many major currency pairs.
In terms of available trading instruments, FXOpen have their traders covered for nearly every need, with choices including CFDs on metals, popular stock indices, and commodities like oil and natural gas, in addition to all popular currency pairs. Further, the broker also offers trading in CFDs based on cryptocurrencies like bitcoin, ethereum and litecoin for traders looking for more excitement and volatility.
Traders using FXOpen’s UK-regulated branch are offered the choice between two types of trading accounts, including a very customer-friendly option of letting traders choose between using an STP (straight-through processing) or an ECN (electronic communications network) account.
Meanwhile, Australian users are offered an additional Crypto account with more than 40 cryptocurrency pairs and a 0.5% commission per half-turn. And to make matters even more complicated, other international users trading under the offshore-based branch are also offered a commission-free Micro account with wider spreads on traditional CFD and forex trading.
Minimum deposit requirements vary between account types, ranging from 1 USD for the Micro account to 100 USD for the ECN account.
As an extra benefit of this broker, traders who choose to open an STP account become eligible to receive a bonus amount of 10 USD even without making any deposit. Although the initial 10 USD bonus cannot be withdrawn, all profits made off of trading with the bonus can be withdrawn from the trading account.
The standard platform choice for FXOpen’s traders is once again the time-tested MetaTrader 4 (MT4) downloadable retail trading platform. The same platform is also offered as a web-based version that can be accessed from any device, with an interface familiar for anyone who has experience using the desktop version of MT4.
Additionally, FXOpen’s offshore branch in Saint Kitts and Nevis also offers a new platform known as TickTrader. The platform has a nice and intuitive design, is built with HTML5, and comes with integrated charts and technical analysis tools from the popular TradingView platform. For now, FXOpen has made TickTrader available on web, mobile, and as a downloadable desktop app for Windows computers.
Deposits to the broker can be made via bank transfer (international or local in several countries), major debit and credit cards, and several online money transfer services, For clients of FXOpen’s offshore branch it is also possible to deposit money with a range of cryptocurrencies sent directly to FXOpen’s cryptocurrency wallet.
With that said, users should be aware that this broker does charge fees for many of the deposit and withdrawal methods available – a service which is often free with other brokers. For example, withdrawal via international bank transfer carries a withdrawal fee of 30 USD or 25 EUR, while withdrawals to a Visa card comes with a 10 USD minimum withdrawal requirement.
When it comes to customer service, FXOpen has a pretty strong record of making themselves available to their clients and replying to questions in a timely manner. The broker offers local phone numbers in Russia, New Zealand, Germany, and France, a live chat open 24 hours on weekdays, and an email support ticket system.
When 8 years ago I started trading on Forex, I was looking for a broker that conducts demo contests - I wanted to learn how to trade without risking my deposit, and I wanted to get an initial deposit without investing my own funds. I found FXOpen - this broker runs many contests for beginner traders. On one hand, the broker is interested in training its new clients, and on the other hand, it helps them to become professional traders and gives real prizes - they can be used for trading or simply withdrawn as a profit. Over the years, I have repeatedly won prizes in various contests from FXOpen and have used these prizes both for trading and for withdrawing. Real prizes in contests are a feature of the company, because now it is quite rare to find a contest with withdrawable prizes. The company also has its own forum where contests are held. Now there is a very popular weekly contest from FXOpen "Competition from 10 TO 100". I opened a real STP account for only $ 10, traded on it and not only withdrew my profit for trading, but periodically got into the winners and received additional real money in this contest. At the same time, the company provides very good trading conditions on a real account, so that I can even trade XAUUSD gold, having a small deposit, a leverage of 1:500, and a low spread. I am very happy with my broker, because the withdrawal of profits is always quick and hassle-free. The company has professional technical support.
I have been trading with FXOpen since 2012. I like the trading conditions that the company provides to its clients. Low Wednesdays - especially for XAUUSD gold. On an STP account, the spread for five-digit quotes for this instrument is only from 10 to 30 pips. I am especially attracted by the fact that you can trade gold with a leverage of 1:500. This is a unique advantage at FXOpen because I can trade gold with a small deposit. For me, FXOpen is the best broker in this regard. In addition, over the years of cooperation, I have never had problems with the withdrawal of my profits - always quickly.
In addition to trading, I regularly participate in contests held by FXOpen. I remember the Forex School contest in September 2017, when I was among the prize-winners who received a prize PAMM account of $ 200 from the company. It was super! FXOpen has its own PAMM service. This is an opportunity to get additional profit not only from trading, but also from investments. I am happy to have found a reliable broker with an FCA license.
I am very happy that I found a Forex Broker like FXOpen because now I can do my trading without any worries. ECN trading facilities that they have provided to me are the best. I can now earn a stable and regular income from Forex trading. And my trading career is secured with them.
I am a Professional Forex trader in the Forex markets since 7 years now. I mainly prefer to do ECN trading as it allows me to do my trades freely and without any limits.
3 years back I switched my trading to the broker FxOpen as it had the Lowest Spreads in Forex Majors and no re-quotes in orders.
I have been trading with them for like 8 years and never had any issues, not a single time. Top reasons of my choice: regulated broker, low spreads, high afffiliate commission and also tick trader services. That's all a power combo for me. I mostly do scalp trading and FXOPEN's low spread on EUR/USD is what I like the most.
I like trading conditions, contests and customer service. Reliable broker.