The regulated service provides a competitive trading environment with multiple platforms for active traders. The low spreads and commissions, xcritical official site as well as a strong track record make it an attractive option, though only high volume traders are rewarded with discounted fees. FXOpen also offers more platforms, apps and trading tools than the majority of its competitors. This is probably one of my top features about this broker for beginners. However, if you are new to trading, then you might want to take a look at ActivTrades as they provide comprehensive market analysis and one on one training. Yes, we are impressed with how accessible FXOpen’s services and platforms are.

With that said, most retail traders lose money so only risk what you can afford. We also recommend using risk management tools like stop-loss orders to minimize losses. On the downside, we are less impressed with the non-trading charges, including a $10 monthly inactivity fee, a $50 reactivation charge, plus withdrawal fees on some payment methods. On the negative side, FXOpen trails the best forex brokers when it comes to education and research. The withdrawal fee and reactivation charge are also drawbacks compared to many alternatives.

I would’ve preferred a 24/7 chat availability but 24/5 is what you will find from most brokers. However, you can get 24/7 support with some other brokers including Bold Prime. FXOpen have accounts designed to meet the needs of traders with different levels of experience and skills. You can choose the account type which is better suited to your trading style, investment, risk and portfolio. Cryptocurrencies such as Bitcoin and Ethereum have proved to be popular for speculators, due to their high volatility.

This approach allows us to identify the best forex brokers for a variety of trading styles, skill levels, and financial parameters. FXOpen’s customer support is satisfactory, providing service 24/5. We reached a knowledgeable assistant via live chat within minutes each time we tested this function. Unlike MetaTrader 4, which is geared towards forex trading, MetaTrader 5 has been designed so you can speculate on multiple markets, including stocks, indices, commodities and crypto. While deposits are usually processed within one hour, our bank transfer withdrawals usually take 1–3 days to be credited and card withdrawals can take up to 5 days.

Reviews from actual traders

I have been with FXOpen a number of years now and I’m very happy with their service. This virtual combining of the Master’s and Follower’s money enables all PAMM players to have the same trading circumstances. Followers gain from a Forex PAMM account because they may profit from Forex trading without having to do extensive market research, trade, or monitor positions themselves. Masters benefit from Forex PAMM because they may trade amounts many times greater than their capital while receiving a guaranteed commission. The FXOpen PAMM system is built so that both Masters and Followers are shielded from one other’s non-trading hazards.

FXOpen provides traders with the MetaTrader 4 and MetaTrader 5 platforms that are developed by MetaQuotes. Since 2005, MetaTrader has been one of the leading trading platforms. It is known for being user-friendly, fully customisable, and having a range of built-in trading tools to assist traders with their market analysis. The MetaTrader 5 platform is similar to the MetaTrader 4 platform, with some additional features for the more advanced traders.

To ensure we offer traders accurate and xcritical information, our forex broker reviews also undergo rigorous editing and fact-checking. Withdrawal times vary according to the withdrawal method used but all requests should be processed within 5 days. While not as fast as some forex brokers, these speeds are in line with most of the industry. We like the no-dealing-desk execution model, reassuring regulatory credentials and excellent pricing on the ECN account. The low starting deposit and free demo account also make it easy to get started with the brokerage. FXOpen also offers copy trading via a PAMM account, which can be a good way for beginners and time-challenged traders to benefit from the decisions made by experienced pros.

It is very easy to deposit and withdraw…

Australian clients fare slightly better with the addition of Skrill. However, clients of the offshore branch have much more choice with crypto payments and a selection of digital payment methods also available. Spreads on other popular markets are competitive too, with gold available at 0.13 and oil at 0.05 when we used FXOpen. Note the minimum deposit and other features may vary depending on which entity you register with. Local phone numbers are offered in Russia, New Zealand, Germany, and France.

Customer Service

I have never had any issues when it comes to trading or funding with them, plus the regulation gives me comfort that my funds are safe. FXOpen is a well-established forex broker that has been offering online trading to over 1 million clients across the globe all the way back to 2005. They are an ECN broker that has tight spreads, reliable execution speeds, and competitive commissions. FXOpen can cater to both retail and institutional traders with services including retail trading accounts and PAMM accounts. FXOpen uses some of the biggest liquidity providers, including Barclays Capital, Bank of America, JPMorgan, Morgan Stanley, Deutsche Bank AG, RBS, CITI, UBS, HOTSPOT INST and GOLDMAN. In addition to forex trading, the broker also provides access to trades cryptocurrency, commodities, stocks, and more.

so far its been a good experience

1. It goes against our xcriticals to offer incentives for reviews.
2. Spreads on other popular markets are competitive too, with gold available at 0.13 and oil at 0.05 when we used FXOpen.
3. Two volet deposits and a litecoin deposit never got credited to my account.
4. There is a free forex VPS for some clients who meet the minimum bar mentioned by FXOpen.

Our partners cannot influence our reviews, nor can they pay us to bias our rankings. However, we feel the opening hours are limited compared to some competitors that stay open 24/7, which may be important for clients speculating on crypto over the weekend. My only minor complaints are that there are no back-testing capabilities or trading signals.

ForexBrokersOnline.com aims to provide the most comprehensive source of information about forex brokers. Before making any trading related decision, contact a local professional financial advisor. Our forex broker ratings are the result of a xcritical of quantitative data and qualitative insights gathered during the testing process.

According to statistics, Metatrader 4 accounts for over 90% of all order executions on the retail Forex market. Reliable platforms, competitive pricing, regulatory compliance, and responsive support. xcritical official site Of course, trading always carries risks, but with FXOpen, I feel like I’m in good hands. The support team can help with several issues and questions including e-wallet and Bitcoin deposits, withdrawal problems, and proof of address queries. Nonetheless, when we used the services of FXOpen, we were assured of top-tier regulatory oversight and consumer protection. This includes negative balance protection for retail customers and access to third-party compensation schemes in the case of business insolvency.

Before I found FX Open, I had been with several brokers, but found that each one had something lacking. Their withdrawal system by instant bank transfer is particularly impressive. 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.

You can also view the market depth level 2 data and the volume-weighted average price (VWAP). There is a knowledge base on the FXOpen website that includes tutorials on how to use the One Click Trading & Level2 Plugin. FXOpen AU is regulated by the Australian Securities and Investments Commission (ASIC). ASIC is amongst the most respected regulators due to strict regulations that give protection to traders through its policies that companies such as FXOpen must comply with.

The company has a good reputation and we found its record to be free from scams and security breaches. Precious metals based on gold and silver can be traded as can energies based on crude oil (WTI, Brent) and natural gas. These instruments are often considered safe havens and used to diversfy portfolios. Normal company, but there is room for improvement and development. I hope that the suggestions and wishes of clients will be treated with understanding.