OpenFX-Overview Guide of This Broker
Abstract：OpenFX is a Belarus-based provider of foreign exchange and commodities trading services, which started successfully completing its first trades on the foreign exchange market in 2004, launched a multi-stage program for trader development in 2017, and began offering investment solutions on the Belarusian and Russian markets.OpenFX currently holds a National Bank of Belarus (NBRB) retail Forex license (license number: 192612632).
| Registered Country/Region | Belarus |
| Regulation | NBRB |
| Minimum Deposit | 100 USD/EUR |
| Maximum Leverage | 1:200 |
| Minimum Spreads | From 0.0 pips |
| Trading Platform | N/A |
| Demo Account | Yes |
| Trading Assets | currency pairs, commodities, oil markets, and stock indices |
| Payment Methods | Bank Transfer, Bank Cards |
| Customer Support | Phone, Email |
General Information & Regulation
OpenFX is a Belarus-based provider of foreign exchange and commodities trading services, which started successfully completing its first trades on the foreign exchange market in 2004, launched a multi-stage program for trader development in 2017, and began offering investment solutions on the Belarusian and Russian markets.OpenFX currently holds a National Bank of Belarus (NBRB) retail Forex license (license number: 192612632).
Market Instruments
OpenFX offers investors a small range of investment assets, mainly currency pairs in the Forex market, commodities, oil markets, and stock indices.
Minimum Deposit
Three trading account options are available on OpenFX platform: the classic, the pro and the premium accounts. The minimum initial deposit for a standard account is 100 USD/EUR, while the initial deposit for the pro and premium accounts is both 1000 USD/EUR.
Spreads & Commissions
Spreads start from 0.0 pips for all three accounts, and commission starts from 0.01% for Pro accounts (round turn), 0.03% for Premium accounts (round turn), and 0.13% for Investment accounts.
Deposit and withdrawal
Deposit and withdrawal can be done through bank transfer and bank card. The minimum deposit via bank transfer is $100 with service fee depended on traders' bank, and minimum withdrawal amount is $50, $5 deducted from withdrawal amount; Trader who deposit and withdraw funds through bank card with a minimum amount of $10, up to 2.5% deposit fees.
Customer Support
OpenFX support a wide range of languages including English, Arabic, Farsi, Turkish, Spanish, Portuguese, French, German, Russian, Thai, Malay, and Indonesian.
You can reach out to FX Open through phone, email. Here are some contact details:
Telephone: +375 17 336 55 44
Email: support@openfx.by
Company Address: 220116, 104 Dzerzhinsky Ave., Suite 803B Minsk, Belarus
Educational Resources
Here you can find some educational resources that may helpful to your forex trading, which including Courses, Online Trading, Videos.
Pros & Cons
| Pros | Cons |
| Three types of trading accounts to choose from | Deposit & withdrawal fees charged |
| Accpetable minimum deposit | No online chat available |
| Competitive trading costs | Limited payment mthods |
| Multilingual customer support | |
| Excellent educational resources | |
| High leverage | |
| Demo accounts available |
Frequently Asked Questions
Does Open FX offer a demo account？
Yes, Open FX does offer a free demo account for beginners to practice forex trading in a 100% risk-free environment.
What is the minimum deposit requirements to open a live account with FX Open？
The minimum deposit is $100.
Does Open FX offer leverage？
Yes, the maximum trading leverage offered by Open FX is up to 1:200.
What payment methods does Open FX support？
Open FX supports payments through
What trading platform does Open FX provide？
No clear information about this part
What types of trading accounts does FX Open provide？
There are three types of trading accounts on offer:
Standard
Professional
Premium
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