FXOpen review: Regulations, Trading platforms, Broker features, and User ratings.

3.008 • 255 REVIEWS
Updated: Apr 21, 2024
FXOpen.com

What is FXOpen?

FXOpen is a multi-country forex broker, regulated by United Kingdom FCA, Australia ASIC and Forex World Commission.

FX Open offers multiple trading platforms including MT4, MT5, TradingView, TickTrader and its proprietary web trading platform for you to trade on over 50 currency pairs, and CFDs on Cryptocurrencies, Shares, Index, Spot metals and Commodities etc.

Please read FXOpen Reviews below and share your live trading experiences with this broker.

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:
FXEgypt.com, 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, +64-9-801-0123
Regional offices:
Regulators: ASIC #AFSL 412871, FCA #579202, FC #
Prohibited countries:
Trading platforms: MT4, MT5, WebTrader, FIX API, TickTrader, TradingView
Web Trading: βœ… Yes
Mobile Trading: βœ… Yes
ECN: βœ… Yes

Trading Instruments

Currencies: (50+)
Cryptocurrencies: (40+) Bitcoin, Litecoin, Ethereum
CFD: (15+) Gold, Silver, Stocks, Stock Indexes, Oil, ETF

Trading Conditions

EAs/Robots: βœ… Yes
News Trading: βœ… Yes
Scalping: βœ… Yes

Managed Accounts & Social Trading

PAMM: βœ… Yes
Copy Trading: βœ… Yes
Deposit Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, AdvCash, Bitcoin, Bitcoin Cash, Ether/Ethereum, FasaPay, Litecoin, Local Bank Transfers, Maestro, Neteller, Skrill, Tether (USDT)
Withdrawal Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, AdvCash, Bitcoin, Bitcoin Cash, Emercoin, Ether/Ethereum, FasaPay, Litecoin, Local Bank Transfers, Maestro, Neteller, PayPaid, Skrill, Tether (USDT), WebMoney
* Please check broker website for more information
3.008 • 255 REVIEWS

FXOpen Most Helpful Customer Reviews

I
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.
G
Grzegorz108
Polska, Poland,
Oct 8, 2020,
Registered user

WITHDRAWALS PROBLEMS - SUCCESSFULLY SOLVED.

Service use: Live Length of use: 6-12 Months
Today I received a transfer from FXOPEN UK - the entire amount.
FXOPEN UK explained that technical issues and changes to the way Mastercard processes payouts were the cause.
They have agreed to shorten the time spent waiting for a final clarification with Mastercard and send me the funds via wire transfer, free of charge.
With this in mind, and with the overall cooperation, it will be fair to raise my rating.
Platform and order execution worked properly.
My previous payouts were coming quickly.
Good contact with the broker.
They care about their reputation.
All of this is an incentive for me to continue investing with FXOPEN UK in the future.

P.S. I would also like to thank FPA for maintaining and sharing their important website for traders.

Sep 29, 2020 - 1 Star Two weeks ago I ordered two withdrawals by card - one 2k EUR and after two days another 4.5k EUR.
So far, my payouts have not been credited to my account.
I contacted my bank, they checked exactly twice, no payment from FXOPEN UK was received.
FXOPEN UK says the funds came out of them two weeks ago but they refuse to tell me who the operator of the transaction is.
FXOPEN UK does not give me a specific answer as to what happened to my funds.
As FXOPEN UK is unable to locate funds efficiently, I wanted to approach intermediaries myself or with the help of my bank, but FXOPEN UK refuses to provide information on who is executing the transaction.
N
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.
C
csa1234
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.
4 traders have found this review helpful
C
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
E
ernest02
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?
2 traders have found this review helpful
E
Reply by fxo submitted Nov 9, 2018:
Dear ernest02,

Thank you for taking the time to share your experience with us. Regarding your complaint about the spread of 20 pips, we'd like to draw your attention that this was during rollover time.
We would also like to remind that market opening/closing and the time around rollover are periods when you can observe sharp market movements, wider spreads and lower liquidity. This may happen when trading with other brokers as well. That's why some traders avoid trading during this time.
If we can be of assistance, please do not hesitate to contact us.

Best regards,
the FXOpen team

Recent User Reviews of FXOpen

F
fxoday
Java , Indonesia,
Mar 4, 2024,
Registered user

My experience trading in FXOpen still fine

Service use: Live Length of use: over 1 Year
I have been using the FXOpen broker service for several years, lately I often use the Ticktrader platform because it can access all CFD markets. Withdrawals are still smooth and don't face any problems, sometimes the process takes less than 24 hours.
P
Peter
Mumbai, India,
Jun 1, 2022,
Guest

Automatic Withdrawals Facility

Service use: Live Length of use: over 1 Year
I have been using this broker from 2 years and they provide the Automatic withdrawals facility with the Bitcoins so i can get my funds very fast. As i am trading using their ECN account the spreads remain on the interbank rates so the trading also becomes easy and profitable with them.

I can say for sure that this broker is trustable.
2 traders have found this review helpful
P
Prachi
Rajasthan, India,
May 3, 2022,
Guest

Lowest ECN spreads

Service use: Live Length of use: over 1 Year
I have done trading with more than 6 brokers, but finally i choose FXOpen as they were giving the lowest ECN spreads and also the orders flow was very fast.

As a News trader i needed more liquidity from the markets and they provided me that. The most important thing for any trader is the speed of order executions and they were best in terms of their server response times.

I can also use my Expert Advisers with them thru the use of the VPS service. Withdrawals done thru the Bitcoin were very Fast and also Automatic.
N
Nasken
Indonesia, Indonesia,
Aug 7, 2021,
Registered user

different candles from other brokers

Service use: Live Length of use: 3-6 Months
you can check on the XAUUSD pair, on 2021, 8, 4, 14:45 time, there is a different price movement from other brokers, where the movement is very dangerous, up to 1500 pips, at that time the spread was up to 300 pips,, is there any explanation from FXOPEN's side, because I will move to another broker because I see this rot
2 traders have found this review helpful
D
Donlams
Nigeria, Nigeria,
Jun 20, 2021,
Registered user

how can i be running on a loss more than my set stoploss

Service use: Live Length of use: 6-12 Months
how can i be running on a loss more than my set stoploss, while about 6 other brokers am using executed my stoploss, this is unbelievable and unacceptable.

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