FXOpen forex broker review and detailed information

FXOpen forex broker review and detailed information

How does FXOpen compare with its competitors? Check out also our comprehensive and fully interactive comparison of forex brokers. If you do not know what the terms in the following tables mean, read the tutorial about forex brokers first.

FXOpen forex broker logo

Basic information about FXOpen

WebsiteVisit FXOpen
TypeECN and MM accounts available
Regulated byFSPR, ASIC
CountryNew Zealand
Established in2005
Live chatyes

Trading terms

Commission (pips)0.00-0.25
Fixed spreadyes
Variable spreadyes
Spread on majors (pips)0.0-4.0
Leverage500:1
Minimum deposit (USD)1
Minimum trade size (USD)100
Accepts scalpingyes

Available features

Number of currency pairs32
Precious metals (gold & silver)yes
Oilno
Stocks, Indices, and/or CFDsyes
Hedgingyes
Trailing stopyes
Free automated tradingyes
MetaTrader 4yes
Mobile tradingyes

Forex account

Demo accountyes
Interest on unused balanceno
Islamic swap-free accountsyes
Segregated accountsyes
Accepts U.S. citizensyes
Payment by Bank wireyes
Payment by Credit cardno
Payment by PayPalno
Payment by checkno
Other payment optionsC-Gold, cashU, China Union Pay, debit card, Moneybookers, Perfect Money, WebMoney
Account in USDyes
Account in Eurono
Account in GBPno
Account in CHFno
Account in JPYno
Account in AUDno
Account in CADno
Account in NZDno
Account in CZKno
Account in DKKno
Account in HKDno
Account in ILSno
Account in NOKno
Account in PLNno
Account in RMBno
Account in RURno
Account in SEKno
Account in SGDno
Account in ZARno

Languages

Arabicyes
Chineseyes
Czechno
Dutchno
Englishyes
Frenchyes
Germanno
Greekno
Hebrewno
Indonesianyes
Italianyes
Japaneseno
Koreanno
Malaysianyes
Polishno
Portugueseyes
Russianyes
Spanishno
Turkishno


FXOpen


FXOpen customer reviews

Are you a satisfied customer? Or you want to share a scary story? Tell the world about your real-life experience with this forex broker! While writing your review, please also specify for how long time you have been trading with them and what trading style you use (for example news trading, grid trading, scalping, etc.). Readers with a similar trading strategy will pay more attention to your comment. Only genuine broker reviews will be published; posts promoting a website and generic comments will be removed.



FXO support
2012-07-27
I've traded with FXOpen for 6 years and have seen some improvements over the last few years, but live chat remains useless and their paid-to-post new idea at their support forum has the look of a money laundering scheme, involving a lot of moderators, none of witch seem to offer advice on trading problems.

Hopefully it will end soon and the forum will return to a support forum again as the only thing working is their e-mail service.

Wake up FXO before all the good work is wasted.


Sebastian
2012-06-10
Ladies and gentlemen, if you know what time it is right now? I do not know how it is with you, but I have 22:00. And you know what time it was an hour ago? 21.00. And two hours ago? 20:00. What do all these time instants in common? BROKEN FXOPEN. NO CONNECTION. EVEN THEIR WEBSITE IS NOT ACCESSIBLE ... 404 Not Found - is everything you read about them. I am open to short profitably for about 1.900 USD and I can not close. Complain and you can write where I want to call - I just so out of the window. I can not do anything because nothing works! We are constantly falling out with the server connections - permanently! This is not just today. About a month ago did not work about 12 hours connection at a time. Every day it comes off every now and again jumps. As soon as I can, so I choose all my money and deleting from there. the fact that the site still outside, strange enough, they lead to approximately 200,000 accounts .. It is totally unacceptable behavior forex broker


raj
2012-03-22
fxopen online chat service is very bad- no response
try 2 or 3 days after i send email fxopen give skype chat adress - 1 day online 2 days offline


motivator
2011-11-20
i just discovered them now online looking for a better broker but with this review i say 50% they are okay! but am going to try my hand on their demo account and see and still found out more about them. thanks men...


Farid
2011-07-14
I'm from Malaysia and I've trading with FXOpen almost 3 years and seen lot of progress. Honestly I earning for past 3 years with FXOpen almost 9K. The most I like FXOpen was they have local bank deposit, it's easy for me to deposit and withdraw my fund. Time taken for deposit less then hour and for withdrawal less then 2 days but sometimes it take less couple hours for the money transfer to my local bank account.

Anyway thank you FXOpen


Stanley
2011-07-09
No big problems so far. But I don't like the way that I could not talk to them over the regular phone. Why a company that does not provide its phone number?!
2nd, the execution is a bit too slow now and two many re-quotes. Will they improve it?


Guy's FXOpen review
2011-02-26
I've been trading with FXOpen for a couple of years and seen a lot of progress. I believe FXOpen is one of the most innovative and at the same time cheapest forex brokers out there. Here's my quick review:

Pros: very low spread (at least for ECN accounts), very high leverage, reliable MT4 trading platform (working even with ECN!!!).

Cons: customer service helpful, but sometimes slow in responding to emails.

Neutral: speed of deposit/withdrawal same as elsewhere.

I hope my short review will help someone.

Guy


Mike (Florida)
2011-01-26
USA trader tired of 50:1. I spent DAYS researching brokers looking for the ONE who had everythibng I need. (see the items listed above). FXOpen had them all. I called the Broker at 7 AM EST....they answered the phone and were very helpful....I used live chat which also reflected great service. I have demo tested their ECN account and am awaiting confirmation to go live with a funded account as I type. I WILL update this forum based on my findings from the live account shortly. This broker is also licensing under Australia in a month or two (2 2011) Chat soon.

Mike


Charles
2010-12-21
I am a Texan from the good old USA. I am in the process of verifying my standard account with them which provides 500 to 1 leverage, which is 10 times better than the 50 to 1 FXCM now provides. Fxopen's account security seems tight, which is good. My only big complaint is that the currency pair price numbers on their trading charts are tiny, but their high leverage is what brought me to them. I think they will be a good broker for me.


Mohamed
2010-11-13
I am from Singapore. And I am a Muslim. I can't find an Islamic forex broker in my country. Inane not done forex before but I am certainly very keen on it. Is it possible to open an account here? Can some kind souls out there help? Reply to fabregazzzz@hotmail.com

Thanks in advance.


Milos
2010-08-19
@Lattofx

Not sure how "profitable" this is, but I earn about $6,000 a year from my fxopen account and never had any problem with the broker. They live of spread and shouldn't care if you're winning or losing. Unless you're trying to game the system:)


Lattofx
2010-08-14
I wonder what they "allow" and not "allowed". All i know is they seems to ban every profitable strategies. I have seen many pros complaining about profits withdrawal. Don't they like profitable traders?? Lol


Yomi Okubule
2010-07-08
I have been trading with fx open for weeks now. My only grouse is why they did not inform us that they are changing their bank for deposit until after I sent money to the former bank provided. Right now my money is hanging and I am losing out on so many trading opportunities. I ask them when do I get my money back, they cannot give a definite date.


TheKnober
2010-05-31
Hello. very keen to use this broker. Heard only good reviews about it!


Isida
2010-05-30
FXOpen banned from FSC Mauritius along with 5 other companies. As stated in press-release from FSC "Notice is given that where the above companies also hold an Investment Dealer
Licence or Investment Adviser Licence, these licences are being suspended with
immediate effect in accordance with Section 27(3) of the Financial Services Act."


gL4di4t0R
2010-05-23
let's be honest, i found them on internet nearly 1 month ago , i deposited sum of 15k$ with them, when i did make profits and make the money 30k$ , i got pessimist with them, i searched google for review of them , i all have read was that they are scams , i really scared , i chatted with bodies they said it too, and they said that i most withdraw all of my money from them but if they pay you, so i requested the withdraw of 450$ , first time they rejected the request, i got scared more, i mailed them they said that you most provide the webmoney number that you have deposited from, i did correct the number, oh yes they paid me, i did request another 2210.48 $ , they paid me again, i did request another two 5000$ , oh come on they paid me again, oh my god , only after 1 month i did double my money and all of my deposits in my bank accounts , they are really nice, fast deposit, but slower withdraw, don't scare, you are safe with them , trade with honest and you will get your money more honestly.

thank you fxopen, and thanks to all the guys that works for fxopen.

if you want i can upload my statement and my screen shot of my withdraws in any where.

i will post this review on other sites too , so if you seen this review elsewhere I'm not a bot , I'm a real person from Iran.


Martin KL Malaysia
2010-05-06
What are the charges for money wire transfer to deposit and withdrawal using Malaysia Maybank Account? Time taken for transaction? At the moment I'm using FXopen topup scratch card and using the local agent to withdraw my profits. Please advice! masterplanners3000@yahoo.co.uk


admin
2010-04-26
Jason, FXOpen does accept clients from the United States.


jason
2010-03-22
I dont think they accept U.S. clients. if they did i would try them.


hadi
2010-01-22
yup...credit/debit card must have then it will be the perfect broker...lol


Sam Ajlouni
2010-01-15
not bad.. but don't like that they don't have credit card funding option. otherwise they are fine


Abdul Malek Haron
2009-10-13
I've trade with fx open since end of august 2009. With USD 1000 capital, i have withdrawn USD 7000 in profit and my account balance at the moment is usd 11.6K. In my opinion, this broker is good. Deposits and withdrawal are fast using liberty reserve. I haven,t tried using other methods such as money bookers, perfect money, bank wire etc. I think those methods are also fast and easy. Try this broker, you won't regret.


ken
2009-10-07
admin, fxopen offers demo trading. I think there is also EUR account....


admin
2009-10-07
Thanks a lot, ken. I've updated the information about demo trading (FXOpen providing a demo account). But as far as I know, all trading accounts with FXOpen are held in USD. Couldn't find any information about accounts in EUR. Please let me know if you happen to have a link.


clark
2009-07-02
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.


hydro
2009-06-19
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.


anang
2009-04-06
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


Adam Cohen
2009-01-10
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.


Cyrus
2008-10-28
I have been trading with fxopen for 2 years. I am holding more than 10k with them and have not had a single trouble. Spreads are tight and never widen even during news time. TP and SL are guaranteed. Deposit and withdrawal are fast. For the support, you can get them on skype. In a nutshell, low spread, fast execution and fast service make fxopen my favourite broker.


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