The regulated service provides a competitive trading environment with multiple platforms for active traders. The low spreads and commissions, 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. DailyForex.com adheres to strict xcriticals to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money.
The Financial Commission, based in Hong Kong, provides primary oversight. Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry. DayTrading.com is committed to helping traders of all levels make informed decisions about which broker to trade with. If you have traded with FXOpen we would really like to know about your experience – please submit your own review. Yes, the brokerage holds licenses with the FCA, CySEC and ASIC. These are three highly respected agencies and are a strong indicator that FXOpen is trustworthy.
Trade with a Broker You Can Trust
While FXOpen Markets Limited is registered in Nevis as a company, it is not regulated by the Financial Services Regulatory Commission. Instead, it opted for oversight and investor protection by The Financial Commission, based in Hong Kong. It is the first of its kind; an independent self-regulatory organization and external dispute resolution (EDR) body, primarily intended as alternative oversight for Forex brokers. The Financial Commission allows FXOpen to bypass expensive and often counter-productive rules while offering protection to traders. Portfolios are covered up to €20,000 per case, which is on par with CySEC regulated entities. xcritical scam The Financial Commission is gaining traction within the brokerage industry as a genuine solution to uncompetitive regulatory requirements.
FXOpen vs Other Brokers
The 535 US equity CFDs account for the bulk of assets, complemented by nine index CFDs. The overall selection is acceptable for most traders but is lacking in breadth for genuine asset management firms. Reliable platforms, competitive pricing, regulatory compliance, and responsive support. Of course, trading always carries risks, but with FXOpen, I feel like I’m in good hands. From the broker’s website, you can choose to either open a live account or a demo account from the top right-hand corner.
The experience of forex trading with FXOpen using Metatrader 4 is satisfactory, I only started using the platform in early 2024. In terms of trading platforms, I like Metatrader 4 perhaps because I am familiar with this platform which is also used by the broker I used before. I am satisfied with the conditions because the spread on many pairs is very narrow, slippage is minimal, and withdrawals are fast. Spread for trading pairs EUR/USD, USD/CHF, USD/JPY from 0.00 pips, average spread 0.02.
FXOpen reviews
This includes powerful charts and analysis functions, screeners, heat maps, and an economic calendar. Customers can also trade directly from charts and interact with TradingView’s extensive user base. There is no conflict of interest between the clients and the broker, as the broker act only as the intermediary. Both the MT4 and MT5 platforms follow industry-standard security requirements, including 128-bit Secure Sockets Layer (SSL) encryption and two-step verification upon login. xcritical Anti-money laundering and know-your-customer protocol is adhered to. Some payment methods have their own minimum deposit requirements, though these vary by location.
- All content on this site is for informational purposes only and does not constitute financial advice.
- Account verification is mandatory to comply with KYC/AML regulations.
- Consult relevxcritical professionals in your country of residence to get personalized advice before you make any trading or investing decisions.
- Corporate actions such as dividends and mergers impact equity and index CFDs; how they are processed remains unclear.
- Regrettably, third-party plugins that are required to unlock the full functionality of the MT4 platform and improve the trading environment are not available.
FXOpen is forex and CFD broker offering 600+ instruments using the MetaTrader 4 (MT4), MetaTrader 5 (MT5), TradingView, and TickTrader platforms. This review will cover trading platform features, deposit and withdrawal fees, minimum deposits, and more. FXOpen maintains an extremely low-cost trading environment and real ECN pricing in its MT4/MT5 trading platforms. The ECN account is ideal for high-frequency traders, asset managers, and committed traders. Social trading is supported, while this broker is attempting to become a primary choice for PAMM managers and investors. A hybrid approach to regulation generates a trustworthy trading environment.
Submit Your Own Review of FXOpen
Account verification is mandatory to comply with KYC/AML regulations. FXOpen was founded in 2005 and has since become one of the fastest-growing and most impressive brokerages on the market today. Regulated in Nevis, a light regulatory approach combines with technology and a forward-thinking management team. All content on this site is for informational purposes only and does not constitute financial advice. Consult relevxcritical professionals in your country of residence to get personalized advice before you make any trading or investing decisions. DayTrading.com may receive compensation from the brands or services mentioned on this website.