FX Open | Forex Brokers Reviews

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Case ID	Filed	Case name	Verdict
2012-056	2012-06-27	Kovacks Norbert vs. FxOpen.com	guilty

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DO YOU RECOMMEND THIS COMPANY?

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

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Carafaad faarah,

Hargaysa, Somalia,

Feb 10, 2019,

Registered user

You do not loose your time to open account fx open

This is selfish a broker i open account it takes after 4days accept me but blocked my account i loose my time fx open i tell new customers do not oose your time fx open
It

Amaan Khan,

Noida, India,

Dec 24, 2018,

Guest

Reliable Forex Broker

I am trading with FxOpen for 8 years now and during this time i have made lots of profits from my trades. I have had experience of trading with other brokers also but i mainly stuck to trading with FxOpen because of the execution of my trades in the ECN trading account.

I am able to trade at any time and i have never faced any issues like re-quotes or my pending orders being rejected.

This is my main Forex broker.

Olga,

Ukraine,

Dec 13, 2018,

Guest

Good!

I have been trading with FXOpen for over a year. I like everything. FXOpen provides quality trading services. Deposit and withdrawal of funds is quick.

Dee,

Nairobi, Kenya,

Nov 22, 2018,

Guest

SCAMMER.

SCAMMER ALERT
I have suprised them with the money i've made in just 3days. Now they refusing to withdraw my requested profits. AVOID

Reply by fxo submitted Dec 10, 2018:

Dear Dee,
Please give us your email or trading account number to look into this situation and check if there was a refusal and what was the reason for it.
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 in withdraw refusal, maybe you should contact our support team first...

Best regards,
the FXOpen team

Anatoly M,

Russian Federation,

Nov 14, 2018,

Registered user

Very bad company!Scam!! Stole my profit!!They not like when you made profit and withdrawal profit!

Reply by fxo submitted Dec 10, 2018:

Dear Anatoly M,
We regret that you are engaged in black PR and make unfounded allegations that do not correspond to reality, including the fact that we stole your profit. Over the 15 years of its existence, FXOpen has never committed fraud against its clients. Persons claiming FXOpen fraud could never provide facts to support their allegations. Probably because they were not real FXOpen customers ... Please give us your account number so that we could check the situation you've described here.

Best regards,
The FXOpen team

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?

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

Bill,

Sarnia, Ont, Canada,

Aug 8, 2018,

Guest

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.

Reply by fxo submitted Oct 23, 2018:

Bill, thank you for taking the time to bring this to our attention. We are sorry to know that you had a bad experience with FXOpen.
Please provide more information (your email or trading account number) so that we are able to investigate this case in detail. If you like, you can send the details to contact@fxopen.com.
Also, please note that FXOpen Markets Limited does not offer negative balance protection. You are welcome to open a trading account with our UK FCA regulated entity FXopen Ltd (www.fxopen.co.uk) that offers full negative balance protection.

Aneilton33,

Brazil,

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

Reply by fxo submitted Oct 22, 2018:

Aneliton33, thank you for taking the time to bring this to our attention.
Customer service is one of our top priorities, and we are disappointed to learn that you had anything less than a stellar experience with us. Please give us your email or a trading account number if you’d like to discuss this matter further.

Adrian,

Iasi, Romania,

Jul 23, 2018,

Guest

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 !

Reply by fxo submitted Oct 22, 2018:

Dear Adrian, we kindly ask you to give us your email or trading account number to look into this situation.
Best regards,
the FXOpen team

rkpandian,

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.

Reply by fxo submitted Oct 22, 2018:

Thank you so much for your kind words, rkpandian. We really appreciate you taking the time out to share your experience with us!

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