FXOpen provides traders with an excellent selection of established payment methods and new solutions. FXOpen have a few useful trading tools that can help to improve trading efficiency. These can be used to assist with money management and market analysis. I appreciate that these tools are offering precise calculations of things such as pip value, margin, swaps, and commissions. This can help you to save time and plan your trading, estimate potential profits/risk and optimise your lot sizes. It would be great if they could implement some more market analysis tools in the future.
The Financial Commission, based in Hong Kong, provides primary oversight. FxOpen UK is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom. The FCA are another very well-respected regulator that xcritical aims to protect investors.
- I also appreciate the one-click trading directly from charts, which makes it very quick and easy to open a forex trade.
- FXOpen provides traders with an excellent selection of established payment methods and new solutions.
- A time-limited cashback program is equally available with a rather complex structure.
- Normal company, but there is room for improvement and development.
When you follow a signal provider, ZuluTrade will reproduce the provider’s trading strategy automatically in your MetaTrader account. However, the overall offering of platforms and tools is rated as average. Our extensive review of FXOpen indicates an overall average experience in forex and CFD trading. While it offers the full MetaTrader suite and the TickTrader platform, the implementation of the former is relatively unimpressive.
UK investors, for example, will trade under the FXOpen UK subsidiary, with oversight from the Financial Conduct Authority (FCA). European traders will be registered under the FXOpen EU entity with regulation from the Cyprus Securities and Exchange Commission (CySEC). EWallet services are provided by a New Zealand registered entity, XP Solutions Limited. Additionally, the Australian and UK subsidiaries operate under the oversight of their respective regulators. Overall, FXOpen has a clean regulatory track record and maintains a safe and secure trading environment.
This is standard practice at EU, UK and Australian-regulated forex brokers. I like that FXOpen offers a demo account credited with $1,000,000 in virtual funds, and it is great to see no restrictions on how long active demo accounts remain open. There is a section on trading news and analysis that can provide some good insights, but this too pales in comparison to the deep analysis tools offered by some rivals such as XM.
What is the FXOpen no deposit bonus?
They enable you to trade hundreds of instruments across multiple asset classes and have a range of convenient account funding options for you to choose from. I have never had any issues when it comes to trading or funding with them, plus the regulation gives me comfort that my funds are safe. FXOpen is forex and CFD broker offering 600+ instruments using the MetaTrader 4 (MT4), MetaTrader 5 (MT5), TradingView, and TickTrader platforms. This review will xcritical cover trading platform features, deposit and withdrawal fees, minimum deposits, and more.
Is FXOpen A Good Broker For Beginners?
Similarly when we traded commodity CFDs, we incurred a commission charge of 0.005 for lower account balances and 0.0025% for a balance over $250,000. Crude oil and natural gas were charged at either 0.005%, 0.0025%, or 0.0018% per side, depending on the account balance. For cryptocurrency CFD accounts, the commission is 0.5% per side. Whilst primarily being a forex broker, FXOpen offer trading instruments in multiple markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs. However, I found them to be lacking in stocks when compared to competitors.
What can I trade at FXOpen?
I personally love the news calendar and history centre in aiding my trading decisions. You simply download the platform for free, install it, and login to your FXOpen trading account. There is a knowledge base on the FXOpen website that includes tutorials on how to use the MT4 platform. FXOpen has an execution quality certificate from Verify My Trade that compares 5,000 trades per month against a benchmark of other brokers and liquidity providers. They have satisfied and continue to maintain execution quality standards. I can say from experience that I have always received good execution on my trades, even when scalping during hours of low liquidity.
There is a knowledge base on the FXOpen website that includes tutorials on how to use the One Click Trading & Level2 Plugin. Multiple order and execution types are supported including market, pending, limit, stop loss, take profit, trailing stop, etc. In addition to this, they offer One Click Trading and a Level 2 MT4 plug-in, so you can place trades with just one click. Developed by MetaQuotes in 2005, MT4 has since been the leading trading platform and will usually be sufficient enough for most traders, regardless of your experience level.
How To Make A Deposit
GO Markets provide Autochartist and Trading Central which are fantastic for trading signals. The web trader has a very user-friendly interface and quick lxcriticalg curve. You can easily open and close trades, set stop and entry levels, place and edit stop and limit orders, stop loss and take profit and more. However, I need to use the desktop platform as the web version cannot run expert advisors (automated systems). All ECN participants have equal execution rights and transactions take place in a completely transparent environment.
Customer Service
On the downside, we are less impressed with the non-trading charges, including a $10 monthly inactivity fee, a $50 reactivation charge, plus withdrawal fees on some payment methods. On the negative side, FXOpen trails the best forex brokers when it comes to education and research. The withdrawal fee and reactivation charge are also drawbacks compared to many alternatives. FXOpen is a legitimate broker with 15+ years experience, more than 1 million registered traders and multiple industry awards. FXOpen is a reputable ECN and STP broker catering to forex traders of all experience levels. In accordance with local rules at its regulated branches, FXOpen does not offer any welcome bonuses.
You can trade on major global indices, FX, commodities, ETFs, shares and cryptocurrency. Note that the FXOpen UK entity is unable to provide PAMM accounts. There are no bonuses or promotions for traders located in the UK or EU, aligned with ESMA restrictions on financial incentives. Scalping, hedging, and automated trading strategies are permitted on FXOpen. It maintains operating subsidiaries regulated by the UK’s FCA and Australia’s ASIC. The Financial Commission, based in Hong Kong, provides international oversight and investor protection.
