FXOpen

FXOpen Information

FXOpen is an unregulated broker that offers a variety of trading instruments including forex, stocks, indices, commodities, and cryptocurrencies. FXOpen has launched 4 trading account types, namely ECN, STP, CRYPTO, and MICRO. FXOpen sets spreads and commissions starting from 0 yuan, with a minimum deposit of $1 and a maximum leverage of 1:1000 equity.

Pros and Cons

Is FXOpen Legit?

FXOpen is not regulated, even though it claims to be regulated by CySEC and the license number is 194/13.

What Can I Trade on FXOpen?

Forex, shares, indices, commodities, and cryptocurrencies are tradable instruments of FXOpen.

Account Type

FXOpen has 4 types of accounts: ECN, STP, CRYPTO, and MICRO. These accounts set different trading thresholds suitable for novice to professional traders. Novice traders can train through demo accounts. The accounts offer floating spreads, minimum deposit from $1 to $100, and leverage ranging from 1:3 to 1:1000.

FXOpen Fees

ECN spreads are as low as 0 and commissions start from $1.5. STP, CRYPTO, and MICRO commissions are 0, 0.5% per lot, and 0 respectively. All accounts have floating spreads.

Leverage

The maximum leverage is 1:1000, which means that profits and losses are magnified 1000 times.

Trading Platform

FXOpen provides a variety of trading platforms, such as the more authoritative MT4 and MT5, FXOpen's proprietary platform TickTrader, and TradingView.

Deposit and Withdrawal

FXOpen's deposit methods include FasaPay and Advcash. FasaPay is commission-free on USD and IDR deposits, while Advcash charges 0.5% commission on EUR, GBP, and USD deposits.

FXOpens withdrawal methods include Paypaid, which charges a 2% commission for withdrawals in Thai Baht, FasaPay, which charges a 0.5% commission for withdrawals in USD and Rupiah, and Advcash, which charges a 0.5% commission for withdrawals in USD and EUR.

Customer Support Options

FXOpen offers 24/5 customer support. FXOpen provides contact information by phone, email, and live chat. In addition, you can learn about FXOpen through social media including Facebook, Twitter, and LinkedIn.