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FXOpen — Forex Broker

FXOpen:

Company: FXOpen Investments Inc.
On-line since: 2005
Country of origin: Mauritius
Regulation: Unregulated.
Payment options: Liberty Reserve, WebMoney, CashU, E-Bullion, e-gold and wire transfer
Minimum account size: $1
Minimum lot size: 0.001 lot
Leverage: from 1:1 to 1:500
Spreads: 2 pips on EUR/USD
Rating:
5.6/10 with 1939 votes

Rate broker — FXOpen:
Categories: MetaTrader Forex brokers
Oil trading brokers
Gold trading brokers
ECN Forex brokers
Muslim Forex brokers
WebMoney Forex brokers
Liberty Reserve Forex brokers
Opinions: See FXOpen reviews.

Advantages:

  • MetaTrader 4 Forex broker
  • ECN Forex broker
  • Traders contests and competitions
  • Bonus for real trader account opening
  • Muslim Forex broker - no-overnight interest accounts
  • WebMoney funds deposit/withdraw option
  • Futures trading is available
  • Start trading with as little as $1
  • Allows investing via Percentage Allocation Management Module

Disadvantages:

  • No important disadvantages

Click here to open an account with FXOpen


Reviews:

160 reviews of FXOpen are presented here. All reviews represent only their author's opinion which is not necessarily based on the real facts.


rufus from Nigeria11/24/2009

those that are campaining against fxopen are wasting their time i trade a live account with them, every thing is fast, deposit and withdrawal very simple. my profits are sent to me in time, if u think they are not regulated, better go regulate your former broker and leave fxopen 4 the dons to trade with them. learn to trade forex b4 posting comments about brokers loosing your balance does not mean fxopen is bad.


Dima from Russia11/13/2009

I think it is very good broker for many reasons.Most important they are paying my profits.

PS.I put mark 9 but it deducted points from the ranking, sorry FXOpen.


Yax from Nigeria11/09/2009

kyriakos, Na wa 4 u! U can keep hating 4 as long as u like!!!!!!!!!!! but these guys ROCK.........


Phao from Thailand11/09/2009

I think Fxopen desrve 10 points for very good services and alsways fast payments. I give 10 points.


Magnet from Spring, TX11/04/2009

Nice offshore broker.Since the rules in USA became very strict I prefer to move my funds out of the country so no one will tell me how do I need to trade.FXOpen suites all my needs.


benjamin igweh from nigeria10/26/2009

i have been using their demo and live accounts for over a year and have not experience any problem that is worth complaining about.deposit and withdrawals are almost instant. i have been demoing their ECN accounts as i intend to fund a live ECN and trade fundamental economic news.


GTR from Belgium10/26/2009

Hello everyone, I like to post some words about that company. I have both, MarketMaker account with 20K , ECN with 20K and ECN PAMM with 5K with FXOpen.

1) Deals executing is much better at ECN accounts, ECN almost instant, MM (Market Maker) several seconds, got several requotes during the news but still ok for MM.

2) Can see see my limit orders in Level 2, very good sign (difficult to find real ECN on MT)

3) Deposit is extremly fast, withdrawal to my bank was completed during the working day, I think that is good, most of companies do this longer (for your information I deposited 10K first, made several trades and ordered all for withdrawal to test this company).

I pretty much enjoy them at the moment, especialy ECN trading. Anyone can check my trading activity with FXOpen ECN PAMM account, just go to FXOpen forum and find GTR Power PAMM thread.


Lena from Russia10/20/2009

Very good company to trade. I made many withdrawals from trading and from commisions and no problems!


Abdul Malek from Malaysia09/27/2009

I've used several brokers:

1.Demo with IBFX- doing well, nearly ten thousand within two months.

2. Real with FXCM, deposited 900USD, but did some trading mistake (not FXCM mistake), my account balance dropped to 98.00 USD, how sad.

3. Real with e-toro, deposited 50USD, done 5 trades and balance now is 147.00 USD (just for fun for the time being)

4. Real with fxOpen (started 11 August 2009).

Trading log:

-11/8 Deposited 900 USD, then my balance down to 236USD on 20/8/2009 - All because of my mistake for not patient enough.

-26/8 Balance increase to 429 due to carefull trading. On the same day i deposited 400 to increase my capital.

-23/8 FXOpen deposit a top 20 bonus worth 50USD and my balance is 1504

- 8/9 fxOpen deposited 100 for 10 lot bonus and my balance on that day is 1399 because of wrong entry. Its ok to lost several trades.

-25/9 highest profit of 1352. Balance 5802

-25/9 First withdrawal 1K using Liberty Reserve. Money already in the bank on 26/9

Balance after withrawal is 5676. Hope to withdraw another 1K in few days.

Conclusion:

At the moment, FxOpen is a good broker. Deposit fast and withdraw in less than 24 hours. Mt4 terminal is good although some delay in entering, closing and refreshing the balance after closing the trades. Hope their admin will look into this matter. I'm using robot most of the time because i have other job to do. For now the profits are 400 to 500 on average (of course some trades i lost 300 to 500). To all traders, do your trades in manners. Avoid hedging and other wrong methods that will make your broker terminate your account.

Hope this review will help those who like to open an account with this broker.For my self, FxOpen is not a scammers.


Ivan Villaran from USA09/25/2009

I was going to open an account with them, but one of their customer reps confirmed me that they had dealing desk for micro and standard accounts...so the minimum account size really to trade on their ECN enviroment would be $1000. =/


Bedone Nwoke from Nigeria09/23/2009

well i have been reading all that you guys are saying about this broker fxopen, i hope that i'm not making the biggest mistake because i have opened a live account with them, but i have not started trading because of the bad network. please try and advice me and tell me why fxopen is bad.

than

ks bedone


Nwaby from Nigeria09/22/2009

then u're likely going to run a micro account. u can't tade a standard account with $10.


Idris from Nigeria09/22/2009

Hmn... Anyway, what i have tested is what i can comment on. I use Liteforex for now and they are okay for me. As for fxopen, i think i will try them from next month with little capital because i heared bad informations about them expecially when it comes to the area of withdrawal. but i will try with $10 at first.


Alexandr from Moscow09/20/2009

This broker is afraid of true about its. You can visit topics on many popular FX forum and see that they created "bots" who make flood in thir topics like "I've opened a position on EURUSD" etc. to hide bad tposts about them. You can post anything about them in these topics and you will see that after 24 hours 10 flood posts of their bots will appear after your and hide your post. Don't watse your time for this broker because they hide true about them.

Their licence is ofshore licence and the cost of this licence is 10K USD only. Don't think that it's regulated broker.


kdjbash from Nigeria09/16/2009

Can someone help me out there. Im operating a live account with FXopen. For some days now, their meta4platform has been showing no connection when others websites are operating. Is this a general problem or what? Can anyone help me out on what to do to enable me continue with my trading. Right now i cant trade.

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