FXOpen Review

2.999 · 226 REVIEWS

FxEgypt

Updated: Oct 20, 2020 · FXOpen.com  · Is this your company?

FXOpen is a forex broker. FX Open offers the Mobile, MT4, MT5 and web trading platforms. FXOpen.com offers over 50 currency pairs, CFD, bitcoin and other cryptocurrencies for your personal investment and trading options.

FXOpen
FXOpen.com is the Nevis branch of FXOpen.

The Australian branch is at FXOpen.com.au.
The UK branch is at FXOpen.co.uk

Also known as:
ForexBrazilian.com, FXOpen.ae, FXOCNMarkets.com, FXIslamic.com, FXFrench.com, FXOpenGermany.com, TradeFXInd.com, FXMalay.com, FXOpen.com.mx, FXOpenThai.com, FXOpenTrading.com.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $1
Established: 2005
Address: P.O. Box 590, Springates East, Government Road, Charlestown, Saint Kitts And Nevis
Contact: sales@fxopen.com, +7-499-346-0960
Regional offices:
Regulators:
Prohibited countries:
Trading platforms: MT4, MT5, WebTrader
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (50+)
Cryptocurrencies: (40+) Bitcoin, Litecoin, Ethereum
CFD: (15+) Gold, Silver, Stock Indexes, Oil
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
PAMM: Yes
ZuluTrade: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, ePayments, FasaPay, IntellectMoney, JCB, Local Bank Transfers, Maestro, Neteller, PayToday, PerfectMoney, Poli, Qiwi, RBK Money, Skrill, UnionPay, WebMoney, Yandex Money
Withdrawal Methods: Bank Wire, VISA, MasterCard, ePayments, JCB, Local Bank Transfers, Maestro

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2.999 · 226 REVIEWS
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DO YOU RECOMMEND THIS COMPANY?

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

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Traders Reviews

fayoum, Egypt,
Oct 19, 2020,
Registered user

I have been actively trading with the company since 2012

Service use: Live

I have been actively trading with the company since 2012, I haven't had serious problems with the company, and I have a number of friends who work with it and haven't had problems.

Features:
• the portfolio system that the deposit does not go to the trading account directly you determine this and this facilitates the capital management process.
• withdrawals are made quickly.

Defects:
The means of deposit and withdrawal are not very large but the company adds it on an ongoing basis.

Tip:
Who has a problem talking to the support or opening a support ticket and you will find the solution to your problem for sure.
 
Ilias Ali,
Uttar Pradesh, India,
Oct 16, 2020,
Guest

Truly Professional and Reliable Broker

Service use: Live

Length of use: over 1 Year

After trading for 5 years with FxOpen i think now it is time to tell about my trading experiences with this broker. I started trading in the STP trading account and after trading in the STP account for 2 years i could say that the speeds of execution and the spreads were very low and stable.

For me to become a Full time trader i decided to start using the ECN trading account of FxOpen and here i could get very low spreads which also helped me in earning more profits from my trades.

I almost make my withdrawals after the trading is closed on Friday and they come in the night without fail, I am happy with this broker.
 
São Paulo, Brazil,
Oct 12, 2020,
Registered user

Tried to deposit funds with them, but it wasn't credited

Service use: Live

Length of use: 0-3 Months

I wired funds to my trading account but it has been more than more than a week and since then my funds haven't been credited. Tried to contact the support team twice but no solution has been presented. Stay away.
 
Reply by fxo submitted Oct 19, 2020:
ISFurlan,

Thank you for your comment. Please, contact us at contact@fxopen.com.

Best regards,
FXOpen team
sa, Saudi Arabia,
Jul 23, 2020,
Registered user

slove my problem miss understanding

Service use: Live

Length of use: Have not used

fx open slove my problem
miss understanding betwen me and company
deposite is done
thnkas

Jul 10, 2020 - 1 Star this company is worst forex They stole my deposit deposite 4.73etherum==+-1150$ after deposite they ask for satement and applaction for money laundry after i told him i cant make statment from my exchanger (Yobit.net)(there is no download option statement in Yobit.net and i have 78 pages) they told me fxopen refund money for sender(first time i hear is refund in cryptocurency) and fxopen told me my ether is refund i ask him for days send me hash id that i can told exchanger and try to restor my ether no one answer for hash
after month fxopen refund etherum to diffrent address

https://etherscan.io/address/0xb3ccb1ca7ab8b1ee58c292b940f6bab8c0e82708

ticket no1448592
 
Neha,
New Delhi, India,
May 31, 2020,
Guest

Best trade execution speeds

Service use: Live

Length of use: over 1 Year

I'm very satisfied with my trading at FxOpen, as the spreads in this broker are low, the execution of the trades is fast with no rejection of orders, and the best is that I can use EAs in my trading. All my withdrawals get processed fast as well, so I can recommend this broker.
 
hafizabad, Pakistan,
May 22, 2020,
Registered user

scam

Service use: Other

Length of use: 0-3 Months

i have sell xauusd from 1741.0 and going down to 1717.xx and sl at 1734 means in profit but you close my position in minus close at 1754 are you mad you are such big scammer and gold also not go there 1754 where he close my position
 
Reply by fxo submitted Jun 18, 2020:
Dear MB063,

Please give us your email or trading account number to look into this situation closely.
We are not scammers and take our obligations very seriously.
Over the 15 years of its existence, FXOpen has never committed fraud against its clients. Instead of blaming us maybe you should contact our trading or support team first to support@fxopen.com

Best regards,
the FXOpen team

FPA REVIEW MODERATION TEAM NOTE: If you look above this review while you are logged in, you should be able to see where MB063 provided the account number.
Asuncion, Paraguay,
Jan 7, 2020,
Registered user

they play against the investor, lost $1.000

Service use: Live

Length of use: 0-3 Months

They changed my leverage and reduced to 1:1 reducing my margin exposure so they could make margin call on my account. They switched back to 500:1 when the price was going negative and few second back to 1:20 back and forward so i dont notice the change... i have screenshot of such behaviour. Stay away they are using the Virtual Dealer plugin to play against the client.
STAY AWAY, i deposited $4.000 and lost $1.000 could have been worst if didnt close the position... a position that should have been turned into profit but after 1 month of getting profit they decided to bankrupt my balance.... what a shame of broker.
  2 traders have found this review helpful
Reply by fxo submitted Jan 28, 2020:
Dear csa1234,

Please give us your email or trading account number to look into this situation.
We are not scammers and take our obligations very seriously.
Over the 15 years of its existence, FXOpen has never committed fraud against its clients. Instead of blaming us maybe you should contact our trading or support team first to support@fxopen.com

Best regards,
the FXOpen team
Ramy,
here, Canada,
Dec 11, 2019,
Registered user

Horrible as expected

Length of use: 3-6 Months

They will play every trick in the book against you.. Period. Trust me. Stay far away. form them.
  2 traders have found this review helpful
Reply by fxo submitted Jan 28, 2020:
Dear Ramy,

Please give us your email or trading account number to look into this situation.
Provide us with any evidence concerning your review. We are not scammers and take our obligations very seriously.
Instead of blaming us maybe you should contact our support team first to ашпгку the things out to support@fxopen.com

Best regards,
the FXOpen team
Jan,
KL, Malaysia,
Nov 16, 2019,
Guest

Withdrawal option in Malaysia is limited

Service use: Live

Length of use: over 1 Year

I have been using Fxopen for more than 5 years. However, something changed recently.
Local bank withdrawal, Skrill, Neteller... All good withdrawal options are not available for me anymore. I asked the CSR and he is not helpful and responsive. He just gave an answer like it is not available in Malaysia anymore. Fxopen also does not send out any notification email regarding the cancellation of withdrawal methods.
  1 trader has found this review helpful
Reply by fxo submitted Dec 4, 2019:
Jan,

Thank you for your comment. Please, contact us at contact@fxopen.com.

Best regards,
FXOpen team
Philippines, Philippines,
Aug 19, 2019,
Registered user

Don't put your money in here they are very terrible broker

Service use: Live

Length of use: 0-3 Months

My money always deducted with huge fees. Very terrible service support. Can't even get my withdraw fund they even deducted it because they told me it was not my money. Bull****
  2 traders have found this review helpful
Reply by fxo submitted Aug 28, 2019:
Stephanie123,

Please, send us your email or ewallet number. FXOpen has never committed fraud against its clients. Instead of blaming us in withdraw refusal, maybe you should contact our support team first.

Best regards,
FXOpen team

Frequently Asked Questions

Is FXOpen regulated?

FXOpen consists of a group of companies, which through its subsidiaries is regulated in 3 jurisdictions.

  • FXOpen Markets Limited operates through fxopen.com, is registered in Nevis under the company No. C 42235, and a member of The Financial Commission.
  • FXOpen UK a trading name of FXOpen Ltd operates through fxopen.co.uk, is authorised and regulated by the Financial Conduct Authority under FCA 579202.
  • FXOpen AU Pty Ltd operates through fxopen.com.au, is authorised and regulated by the Australian Securities & Investments Commission (ASIC), under AFSL 412871.

Is FXOpen a good broker?

Unbiased traders reviews on ForexPeaceArmy is the best way to answer if FXOpen is a good broker. https://www.forexpeacearmy.com/forex-reviews/2943/fxopen-forex-brokers

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we'd recommend to check recent FXOpen community discussions: https://www.forexpeacearmy.com/community/tags/fxopen/

What is the minimum deposit for FXOpen?

The minimum deposit for FXOpen varies depending on the account types.

  • Micro account: the minimum is $1
  • STP account: the minimum is $10
  • ECN account: the minimum is $100

What is the leverage levels for FXOpen ECN?

Leverage levels available for FXOpen ECN accounts are as following:

  • 1:1 - 1:500 for accounts from $100 up to $25,000
  • 1:1 - 1:200 for accounts from $25,000 up to $100,000
  • 1:1 - 1:100 for accounts from $100,000 up to $1,000,000
  • Negotiable over $1,000,000