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FXOpen.com (FxEgypt) Review Visit site

Updated: Sep 24, 2018
2.924 · 211 REVIEWS
Is this your company?
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

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

FXOpen.com (FxEgypt)

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


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2.924 · 211 REVIEWS
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Let other traders know if this service is worth checking or should be avoided.

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South Africa,
Sep 21, 2018,
Registered user

I just discovered that this broker gaps the Ask price / spread by more than 20 pips at times. I could not understand why my StopLoss was hit by only ONE point when the price (bid price) was more than 22 pips below my StopLoss (and then, of course, the price went on and hit my Take Profit target which made me even more upset because a win was converted into a loss by their price/spread manipulation.)
I then investigated further and found that they do this on a regular basis,
So how can one trade profitably with this broker if they do that? All SELL trades are in danger all the time!
I would recommend you avoid this broker at all costs if you want to have a fair chance to be a profitable forex trader.

May 9, 2011 - No Rating I am in the process of opening an ECN account with FXOpen. but although on their website they say the ECN account is ideal for scalpers when you read their Customer Agreement you get the a clause that their system is not "adapted" for scalping so when they find anyone doing scalping they can do all sorts of nasty things such as close your account, charge a penalty fee to an amount GREATER than the profit the scalper had made.
Anyone doing scalping at FXOpen and willing to leave a review?
Sarnia, Ont, Canada,
Aug 8, 2018,

I feel ripped off

I have not used this broker in 2 or 3 years, I dont recall why but I do remember that I just did not like them. Since I still had an account with them I decided to try again. I deposited money and my deposit was $9.50 short. I asked their chat and they said its because of deposit fees. I said no it was not. Then they said it was because of exchange rate fees. I said no it was not. Then I found out that there was a negative balance on my account and thats why it was short. When I signed up they had negative balance protection, apparently they no longer have it. I was never told this, so I did not know. I did not re-read their entire terms of service again (I guess maybe I should have?). Anyways I gave these guys another chance after so many years, and I havent even placed my first trade yet and I am already reminded how bad this company is. Just constant negative experiences. It seems to never end. I dont think they will ever change (or if they do, always for the worse). Trade elsewhere.
Jul 25, 2018,
Registered user

Do not waste time

Support not willing to help,Everything on fxopen is slow and time consuming,
I do not recommend registering
Iasi, Romania,
Jul 23, 2018,

They exchanged my currency without my permision at a bad rate,
Then they refuse to accept the witdrawal of my money to my card, saying it is a security risk (my money , to my name it is a security risk).

Clearly fraud, they steal our money !
Tirunelveli, India,
Jun 10, 2018,
Registered user

I Opened a STP account in FxOpen and start to trade with their no deposit bonus of $10, after one week I made a profit of $27 and I successfully withdraw my profit, I received the money in my skrill account on the same day of my withdrawal request.
FXOpen is genuine.
ondo, Nigeria,
Mar 23, 2018,
Registered user

fxopen is scammer

Fxopen. Is a very bad broker they scam me with my 100GBP after they have cancel my profit and i request back my deposits. And they refuse to send. Back my deposite. Please every body should stay away. From this bad broker if they have any thing to say let them provide evidence of paying back my deposited my account number is 735813
rabat, Morocco,
Dec 22, 2017,
Registered user

BAD BROKER i don't recommend them special for islamic group

they told me that it is no swap in islamic account
when i trading i notice that the commission increase by the time
BAD BROKER i don't recommend them special for islamic group
Japan, Japan,
Sep 7, 2017,

Commission is expensive

BAD BROKER ! I don't recommend them .
I used them in the past and got a lot of issues (requotes, slippage) trading Forex. Now i just opened an cryptoaccount and there is no issues BUUUT them commission on cryptoaccount is ridiculous ! 0.5% commission on transaction volume. Example : If you trade 0.10 lots on BTCUSD commission is $4.53 USD . The market need move at the least 40 pips to you start earning some money . BUT if try them demo before open an live account the commission is half of price 0.10 lots around $2.23 USD .
I dont reccomend them ! Just opened an crypto account with them because they server for BTC is 24 hours 7 days of week , different from many that use Metatrader4 platform .
Is very hard these days open an crypto account with good conditions .
Keep the eyes open !!
I will find out a new Broker to trade cryptocurrencies.

Reply by fxo submitted Nov 20, 2017:
Dear Sky,
we offer crypto trading in accordance with the terms and conditions stated on our website.
Any client has the opportunity to become acquainted with these conditions before trading and decide whether they are suitable for him.
We do not violate the rules, and it is surprising to us that you state on such grounds that we are a bad broker.
Jul 6, 2017,
Registered user

Not good execution and expensive withdraw.

I use breakout strategy and I open positions mainly during news releases. Compared to my other two ECN brokers the execution was very bad, larger slippage and spread. Fast withdraw but very very expensive, they charge very high commission.
Etobicoke, Canada,
Jun 5, 2017,

Companies of the same feather flock together!

Depositing money at this broker via credit card is a nightmare. They use Skrill as their payment merchant, so you are forced to go through them when using a CC. When I put in my CC info into their little popup, they told me they changed my password for security reasons, and that I had to change it. I've never even had an account with them! They forced me to give them my email, then emailed me a link, where I had to set up a "new" password! Even after I did all of that, which I should not have, they announced they were no longer able to do transactions in USD!!!!!!! What a waste of time. I looked up reviews of Skrill and they are EXTREMELY negative. Makes me wonder why FXOPEN would be using them? Anyways I decided to deposit my money at another broker instead. Let em keep using skrill.

P.S. I forgot to mention that when I was forwarded to Skrills site, it announced, and I am pasting here:
"Please be aware that we no longer accept bank-wire deposits or facilitate bank-wire withdrawals in US dollars."

I know this seems like a rant about Skrill, and maybe it kinda is, but the point is that FXOPEN FORCES you to go through them if you are using a debit/credit card. How would you get your money then(for USD)? Good Luck.