Item: FXOPEN
Rating: 1.53

Licenses

ASIC Suspicious Clone

Market Making(MM)

VPS Standard

No restriction on the broker account. Support service provided by WikiFX

Single Core

40G

open now

Regulatory disclosure

Danger

ID BAPPEBTI

2022-02-02

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Broker Information

Company Name

FXOpen AU Pty Ltd

Company Abbreviation

FXOPEN

Platform registered country and region

Australia

Company website

https://www.fxopen.com.au/en

Facebook

https://www.facebook.com/FXOpenAustralia/?modal=admin_todo_tour

Instagram

https://www.instagram.com/fxopen_broker

https://www.linkedin.com/company/fxopen/

Company summary

Pyramid scheme complaint

Expose

FXOPEN · Company summary

FXOPENReview Summary
Founded	5-10 years
Registered Country/Region	Australia
Regulation	Suspicious Clone
Market Instruments	Indices, commodities, forex, shares, cryptocurrencies, and ETFs
Demo Account	✅
Leverage	Up to 1:30
Spread	Start from 0 pips
Trading Platform	TickTrader, TradingView, MT5 (MetaTrader 5), and MT4 (MetaTrader 4)
Min Deposit	£300, $300, €300
Withdrawal Methods	Wire Transfer, Skrill, Neteller, and WebMoney
Customer Support	+(61) 8 6557 8587+(61) 8 6557 8587+(61) 2 6145 2042 (ext. 117)
Customer Support	trading.desk@fxopen.com.aulp@fxopen.orgsupport@fxopen.com.au

FXOPEN Information

FXOPEN is an Australian-based broker with 5-10 years of experience. It offers 6 types of trading products, 4 trading platforms, and 4 withdrawal methods. However, its regulatory status is marked as a suspicious clone.

Pros and Cons

Pros	Cons
Offers 6 types of trading products	Suspicious Clone
Provides 4 trading platforms	Minimum deposit requirement: £300, $300, €300
Offers 4 withdrawal methods

Is FXOPEN Legit?

FXOPEN is regulated by the Australian Securities & Investments Commission (ASIC) with a License Type of Market Making (MM) and License Number 412871. However, its regulatory status is Suspicious Clone.

Regulatory Status	Suspicious clone
Regulated by	Australian Securities & Investments Commission (ASIC)
Licensed Institution	FXOpen AU Pty Ltd
Licensed Type	Market Making (MM)
Licensed Number	412871

What Can I Trade on FXOPEN?

FXOPEN offers six types of trading products, including indices, commodities, forex, shares, cryptocurrencies, and ETFs.

Tradable Instruments	Supported
Indices	✔
Commodities	✔
Forex	✔
Shares	✔
Cryptocurrencies	✔
ETFs	✔

Account Type

FXOPEN offers two account types: ECN and STP. It also offers demo accounts.

Account Type	ECN	STP
Demo Account	Available	Available
Trading Time	22:00 Sun - 22:00 Fri (GMT)	22:00 Sun - 22:00 Fri (GMT)
Crypto Trading Time	24/7 for Cryptocurrency CFDs	24/7 for Cryptocurrency CFDs
Minimum Deposit	£300, $300, €300	£300, $300, €300
Spread	Floating, from 0 pips	Floating
Commission (per 1 lot)	From $1.50	N/A
Minimum Transaction Size	0.01 lot	0.01 lot
Minimum Increment	0.01 lot	0.01 lot
Leverage	Up to 1:30	Up to 1:30
Margin Call	100%	100%
Stop Out	50%	50%

Leverage

Both ECN and STP account types offer a leverage of up to 1:30.

Spreads & Commissions

FXOPEN offers floating spreads for the STP account type. Spreads start from 0 pips for the ECN account.

Trading Platform

FXOPEN offers four trading platforms: TickTrader, TradingView, MT5 (MetaTrader 5), and MT4 (MetaTrader 4). They all support Windows, Web Browser, Android, macOS, iOS, and online access.

Trading Platform	Supported	Available Devices	Suitable for
TickTrader	✔	Windows, Web Browser, Android, MAC, iOS, Online	Both Beginner and Experienced Trader
TradingView	✔	Windows, Web Browser, Android, MAC, iOS, Online	Both Beginner and Experienced Trader
MT5	✔	Mobile and Desktop（Windows & macOS）	Experienced Trader
MT4	✔	Mobile and Desktop（Windows & macOS）	Beginner