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FXOpen.com (FxEgypt) Review Visit site

Updated: Feb 6, 2017
2.931 · 203 REVIEWS
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July 2012 Update:  FXOpen.com is now used exclusively for the New Zealand branch of FXOpen.

The Australian branch is at FXOpenAus.com

The UK branch is at FXOpen.co.uk


Also known as:
fxmalay.com, fxislamic.com, fxind.com, fxfrench.com, philippinesforex.com, fxorient.com, forexarabian.com, forex-leader.com, payufx.com

FX Open is an online forex broker. FXOpen offers the MetaTrader 4 top currency trading platform. Fxopen.com offers over 20 of the most traded currency pairs for your personal investment and trading options.

FXOpen.com (FxEgypt)

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  • Guilty1
Case IDFiledCase nameVerdict
2012-0562012-06-27Kovacks Norbert vs. FxOpen.comguilty

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2.931 · 203 REVIEWS
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Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Singapore, Singapore
Jan 3, 2017
Registed user

Fxopen is actually not bad! Recommended to try!

I have tried many brokers and i think FXOpen is actually okay. One of the best around. With many payment processing options for deposit and withdrawal, reasonable support.

Look at my profile, not paid to do this review. Couldnt help to see all the complaints which i definitely pretty sure that there is a reason why those things happen.

Hope FXopen can keep improving too :) ... cheers!

banten, Indonesia
Oct 12, 2016
Guest

hii traders....
I'm Wilson

I just wanna say, FXOpen is a good broker, honest, fast execution, easy deposit & easy withdrawal, very low spread
But the only bad thing is slow response...
overall NICE...

Joburg, South Africa
Oct 3, 2016
Registed user

Overcharged Commission

My ECN account 9501234 is being charged $1.57 per 0.14 Lot with deposit

over $1000 and 12 trades per week.



While initially I was charged $0.78 per 0.14 lots, that is 101% increase!!.



When I asked about this, their reply was:



Hello,





Your 9501234 account's equity is below is USD 1000, that's why your commission rate has been increased twice. For more details please check https://support.fxopen.com/Knowledgebase/Article/View/209/466/commissions-and-bonuses

Should you have additional questions - please let us know.





Kind regards,

FXOpen support team



I have proof that my account equity was over $1000 when I opened the last three trades.

Reply by fxo submitted Oct 7, 2016:
Dear Sir,
According to our terms and conditions, the commission rate is recalculated once a month according to an account's equity or/and trading turnover at the end of the trading period: https://support.fxopen.com/Knowledgebase/Article/View/209/466/commissions-and-bonuses
You were charged 10 units per lot trade round-turn commission because your equity was less than USD 1000 at the end of the trading period.
We have set your commissions to 5 units of a base currency per lot traded round-turn as your equity exceeds USD 1000.
Kind regards,
FXOpen
canarias, Spain
Jul 16, 2016
Guest

Scam broker, slippage 1,7 pips in USD/GBP,, stop trading when using the margin, frequents changes of spreads.
FCA operate this broker?
with help of association study their bahavior.
FFXOPE UK/SCAM- USD/GBP spreads +- 3 pips, slippage 1,7 pips. broker A cero slippage spread ´- 1 pip, broker C cero slippage 0,8 spread broker D positiv slippage 0,20 spread 0,7.
theft, scam, misleading advertiseng and more.

Reply by fxo submitted Jul 20, 2016:
Dear pepe, As we have repeatedly explained in great detail, each broker has it`s own set of LPs thus they have different spreads. So, there`s no use in comparing spreads of brokers A, B, C, D, etc. Also in times of important data releases, LPs provide widened spreads and there`s a high risk of a slippage.
Sofia, Bulgaria
Jun 27, 2016
Guest

Market makers trading against their users, governed by an off-shore scam commission, which they are "a part of" according to their website.
STAY AWAY!

Reply by fxo submitted Jul 6, 2016:
Dear Teodor, Please provide us the proof or the details that led you to a conclusion that FXOpen takes the other side of your trades. At this point your accusations are pointless and lack details and proof. In our ECN model, the counterparty to your trade is another market participant such as a bank, fund or another trader. Please note that Financial Commission that you call an off-shore scam commission is not a regulator but an Independent Dispute Resolution organization and FXOpen is a member of it together with a number of other brokers. Kind regards, FXOpen team
, Spain
Jun 4, 2016
Guest

FXOPEN UK, is bad broker, bucket shop ECN? test with small acc. afther more than 25 years en forex, brillant FCA with this broker

Reply by fxo submitted Jun 9, 2016:
Dear sir, we don`t understand the essence of your claim. Please, describe it in a more comprehensible manner. Thank you.
Lajeado, Brazil
May 4, 2016
Guest

Do not expect any action quickly when you want to withdraw your money! On the website they claim that withdrawals to Neteller and Skrill are instant (https://www.fxopen.co.uk/en/withdrawal). But actually take up to 2 days!

If you want to be served by chat, prepare a popcorn because it will take a long time!

On the platform: spreads and commissions are higher in the real account than the demo account. But this is nothing new...

Riyadh, Saudi Arabia
Mar 16, 2016
Guest

It's totally scam and my story is :
After long working in EA , I success to build very strong EA that depend on pending orders , and I choose fxopen ECN account , on the first week I observe that some bending orders it changes their places and we I closed the EA opened again in it's correct place , I worked in EA and I fixed this as whatever happen the order couldn't be changed unless the EA stopped or shut , but now new scamming happened , new totally orders open and I could observing that because if I close one order manually that opened by EA , the EA will close all remain orders and when I close that wrong orders the EA didn't close his orders , so those orders open by broker , until the big problem happened and I lose the account , it's was a day of NZD news , The EA hang a order 160 pips away from the moment price moved and the broker cancelled it and by this my account destroied , I contact them and they said because of slippage they couldn't open the order , After that I try to hedge my orders manually but I lost the account .
My account : 901923
pass : IP13Mw4x
server : ecn.fxopen.com:443

Reply by fxo submitted Apr 25, 2016:
Dear Wefag, Your order was automatically cancelled, the reason is a significant slippage, that resulted from the news release. The procedure, known as Slippage Control to protect client orders from opening at a significantly worse price than specified. This is an inherent structure of ECN model. For more information please visit: https://support.fxopen.com/Knowledgebase/Article/View/230/466/slippage-control-cancelled-by-dealer Kind Regards, FXOpen Team
Noosa, Australia
Dec 26, 2015
Guest

They're actually ok.

It's just that they have untrained support staff that makes them look bad, but overall honest.

India, India
Dec 21, 2015
Guest

Well Have been trading with them for 12 months.
Pros-
Honest broker- don't cheat
Platform performance- Less slippage
Spread- Avg. among low spread providers

Cons-
Pathetic customer support
Bad IT infrastructure on web portal coupled with terrible customer support. I am being charged 11$ per RTL for past few days and I am not able to communicate the issue so far to the,.

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