FXOpen 2024 Review: Is FXOpen a Legit Broker?

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5.4/10 (Expert Score)
Product is rated as #23
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FXOpen Overviews

In this review, we will examine FXopen, a well-known broker in the financial industry, and explore the features and services they offer. Our analysis aims to provide you with insights into FXopen's offerings to help you make an informed decision about their suitability for your trading needs.

FXOpen 2024 Review: Is FXOpen a Legit Broker?

FXOpen is a well-established retail and institutional forex broker that has been providing online trading services since 2003. Originally founded as an educational center for technical analysis in Egypt, FXOpen expanded its offerings and introduced brokerage services in 2005. Over the years, the company has built a strong reputation in the industry, offering access to the electronic communication network (ECN) for trading various financial instruments such as currencies, commodities, indices, and stock CFDs. With a range of trading platforms, including MetaTrader 4, MetaTrader 5, and TickTrader, FXOpen caters to both individual traders and institutional clients.

When choosing a broker, reliability is a crucial factor to consider. FXOpen’s long-standing presence in the market and its provision of ECN trading services has garnered a solid reputation among traders. The company’s history, technological innovations, and diverse range of trading instruments contribute to its appeal. However, conducting thorough research and assessing your trading needs is important to determine if FXOpen aligns with your requirements. By carefully considering factors such as regulation, customer support, trading conditions, and your preferences, you can decide whether FXOpen is the right choice for you.

Broker Feature Overview
Type of Broker ECN, STP Broker
Regulation & Licensing ·         The Financial Commission (?)

·         Australian Investments and Securities Commission (ASIC)

Applicable Countries Allowed To Trade See section below
Assets Offered Forex, indices, commodities, shares, ETFs, crypto
Platforms Available MT4, MT5, TickTrader
Mobile Compatibility Yes
Payment & Withdrawal Options


VISA, Mastercard, Webmoney, Fasapay, AdvCash, Bitcoin, Litecoin, Ethereum, Tether.nn

Facts About FXOpen
  • Founded in 2003 as an educational center for technical analysis in Egypt
  • Started offering brokerage services in 2005
  • Introduced Micro accounts and swap-free Shari'a-compliant accounts in 2006
  • Developed its own bridge technology in 2009, providing access to the ECN market via the MetaTrader platform
  • Launched ECN PAMM accounts
  • FXOpen NZ Limited stopped issuing derivatives to retail customers in August 2014
  • Deregistered from the Financial Services Provider Register in New Zealand in 2014
  • New Zealand's registration was revoked from the Financial Dispute Resolution Scheme in 2015
  • FXOpen LP Limited (New Zealand) has provided a trading technology platform to wholesale customers since 2015
  • Launched TickTrader trading platform in 2021, allowing trading of Forex, stocks, indices, and commodities within one account
  • Offers ECN-integrated MT4, MT5, and TickTrader platforms
  • Compatible with algorithmic trading and expert advisors
  • Provides One Click Trading Level2 Plugin software (OCTL) for optimized order execution in the MT4 platform

Pros and Cons

  • Reputable broker with a focus on security and regulation
  • Wide range of trading instruments, including spot FX, commodities, shares, indices, and cryptocurrencies
  • Negative balance protection for retail clients
  • Multiple deposit and withdrawal options
  • Regular trading contests and promotions
  • Active customer support channels
  • Limited availability for clients from the United States.
  • Limited information on promotions and competitions on the website.

Is FXOpen Safe? Broker Regulations

In the competitive world of forex trading, choosing a reliable and regulated broker is crucial for the success and security of traders. While most brokers prominently display their regulatory information on their websites, FXOpen, a well-established broker, takes a different approach. Here we will explore FXOpen’s lack of transparent regulatory information, its potential implications, and why regulations are essential for brokers.

The Absence of Regulatory Information:

When visiting the FXOpen website, it becomes evident that the broker does not readily provide regulatory details in the footer or any specific pages or sections. Instead, the footer primarily includes copyright information, a risk warning, and a statement about the company’s name and membership to The Financial Commission. Notably, FXOpen highlights that it does not offer services to residents of the United States, and it acknowledges the need to comply with local laws and regulations.

Exploring the “About Us” Section: While seeking regulatory information on the FXOpen website, users might turn to the “About Us” section. However, this section predominantly offers a breakdown of the company’s history, mission statement, and overview of its ECN (Electronic Communication Network) model. Although these details provide insights into FXOpen’s business approach and model, they do not address the crucial aspect of regulatory compliance.

The Importance of Regulatory Compliance: Regulatory compliance is of paramount importance in the forex trading industry for several reasons:

  • Investor Protection: Regulations ensure that brokers adhere to strict standards, safeguarding the interests of traders. They provide a layer of oversight to prevent fraudulent practices, unauthorized fund access, and other malpractices that may harm traders’ financial well-being.
  • Transparency and Accountability: Regulatory frameworks establish transparency requirements, forcing brokers to disclose essential information about their operations, financial stability, and risk management practices. This information empowers traders to make informed decisions and assess the reliability of a broker.
  • Dispute Resolution: Regulated brokers are typically affiliated with regulatory bodies that offer dispute resolution mechanisms. In case of conflicts or issues, traders have access to independent bodies that can mediate and help resolve disputes, ensuring a fair and equitable outcome.
  • Financial Security: Regulations often mandate brokers to segregate client funds from their own operational funds, enhancing the security of traders’ deposits. Additionally, regulated brokers may be required to participate in compensation schemes that protect clients’ funds in the event of broker insolvency.

FXOpen’s lack of readily available regulatory information raises concerns about transparency and regulatory compliance. The absence of specific details regarding regulatory bodies, licenses, and jurisdictions makes it challenging for potential clients to assess the broker’s credibility and verify its compliance with industry standards. This informational deficiency might deter traders who prioritize regulatory oversight and risk management.

While FXOpen positions itself as an ECN broker with a unique trading model, it falls short in providing comprehensive regulatory information, a critical aspect for traders when selecting a reliable broker. Regulations play a vital role in ensuring investor protection, promoting transparency and accountability, and providing avenues for dispute resolution. As an aspiring trader, it is essential to consider these factors and thoroughly evaluate a broker’s regulatory compliance before engaging in forex trading activities.

  • The Financial Commission
  • Australian Investments and Securities Commission (ASIC)

What Can I Trade with FXOpen?

FXOpen is a renowned brokerage firm that offers a diverse range of tradable assets to meet the needs of experienced traders. With a commitment to providing a seamless trading experience, FXOpen facilitates trading in Forex, Indices, Commodities, Shares, ETFs, and Cryptocurrencies. Let’s delve into each of these markets, highlighting the advantages of trading with FXOpen and the key features that make them an attractive choice for traders. These specific asset sections can be found under the “trading” and then “markets” sections of their website through the main menu.


Trading with FXOpen Forex trading, also known as foreign exchange or FX trading, involves the conversion of one currency into another. FXOpen stands out as a forex leading broker, catering to experienced individuals seeking to test their skills, knowledge, and tenacity. Let’s explore the advantages of Forex trading with FXOpen:

  • Peace of mind: FXOpen offers a single platform that allows traders to access multiple instruments and markets, including Forex, indices, commodity CFDs, and cryptocurrency CFDs.
  • True ECN broker: As a trusted ECN broker with over 1 million traders worldwide, FXOpen ensures transparent and conflict-free trading, prioritizing the best interests of their clients.
  • Customizability: FXOpen’s highly customizable trading platform enables traders to tailor it to their individual trading styles and strategies. This level of control empowers traders to make informed decisions.
  • Ultra-fast execution: FXOpen provides traders with access to automated trading, offering ready-made scripts, expert advisors, and the option to create custom indicators or scripts based on their unique trading strategies.
  • Choice of trading strategy: With the convenience of MT4, traders can execute their trading strategies anytime, anywhere, using the desktop, web-based, or mobile versions.
  • Wide range of analysis tools: FXOpen equips traders with more than 50 built-in indicators and graphic tools for technical analysis, historical quotes, strategy testing, and news updates, empowering them with the knowledge to make better trading decisions.


Trading with FXOpen Trading indices presents a different challenge as it involves speculating on the performance of a group of stocks rather than an individual asset. FXOpen recognizes the appeal of index trading and provides a comprehensive platform to meet the needs of experienced traders.

  • Multiple markets in one platform: FXOpen offers a unified platform where traders can access not only index trading but also commodities (metals and energy), Forex, shares, and cryptocurrency CFDs.
  • Confidence in trading indices: As a broker committed to high standards, FXOpen ensures traders can trade indices with confidence, knowing that their interests are protected.
  • Customizability: FXOpen’s index trading platform can be highly customized to suit individual trading styles and strategies, offering complete control over trading decisions.
  • Access to automated trading: Traders can leverage FXOpen’s platform to download and utilize ready-made scripts, and expert advisors or create custom indicators and scripts aligned with their index trading strategies.
  • Versatile platform accessibility: FXOpen’s platform can be accessed via desktop, web-based, or mobile versions, providing flexibility and convenience for traders.
  • Extensive analysis tools: With over 50 built-in indicators and graphic tools, traders can perform technical analysis, access historical quotes, utilize strategy testing features, and stay updated with market news, empowering them to enhance their index trading knowledge.


Trading with FXOpen Commodity trading, involving the exchange of assets based on the price of physical commodities like metals and energy, requires specialized knowledge and carries high risk and reward. FXOpen offers a platform that caters to the unique needs of commodity traders;

  • Multiple instruments and markets: FXOpen’s platform enables traders to access commodities (metals and energy), indices, shares, Forex, and cryptocurrency CFDs, all in one place.
  • Commitment to high standards: FXOpen holds itself accountable to the highest standards, ensuring that traders can confidently engage in commodity trading.
  • Customizability: Traders have the freedom to customize the trading platform according to their individual trading styles and strategies, enabling them to exercise complete control over their commodity trading.
  • Access to automated trading: FXOpen allows traders to download and use ready-made scripts, expert advisors, or create custom indicators and scripts aligned with their unique commodity trading strategies.
  • Versatile platform accessibility: FXOpen’s platform can be accessed via desktop, web-based, or mobile versions, facilitating trading at any time and from anywhere.
  • Extensive analysis tools: With over 50 built-in indicators and graphic tools, traders can analyze commodities effectively, access historical quotes, perform strategy testing, and stay updated with relevant news, enhancing their commodity trading knowledge.


Trading with FXOpen Shares via CFDs (Contracts for Difference) is a popular choice among experienced traders looking for healthy investment returns. FXOpen provides a share trading platform that offers access to thousands of stocks, allowing traders to build their portfolios and put their skills to the test.

  • Multiple markets, multiple instruments: FXOpen’s share trading platform goes beyond shares, enabling traders to diversify their portfolios by accessing Forex, indices, commodities, and cryptocurrency CFDs.
  • Commitment to high standards: FXOpen upholds the highest standards, ensuring that traders can invest in shares with confidence and peace of mind.
  • Customizability: FXOpen’s share trading platforms are designed to cater to different trading styles and strategies, empowering traders to make trading decisions according to their preferences.
  • Ultra-fast execution: The share trading platforms offer features such as direct trading from charts, market, limit, and stop orders, trailing stop, and one-click trading, enabling traders to execute trades quickly and efficiently.
  • Choice of trading strategy: Traders can access automated share trading by utilizing ready-made scripts and expert advisors or create their own custom scripts and indicators to align with their unique strategies.
  • Extensive analysis tools: FXOpen’s share trading platforms provide more than 50 built-in indicators and graphic tools, facilitating technical analysis, historical quotes analysis, strategy testing, and access to market news for informed decision-making.


Trading with FXOpen Exchange Traded Funds (ETFs) offer traders the opportunity to speculate on the performance of a group of shares rather than individual assets. FXOpen provides an excellent platform for ETF trading, enabling traders to diversify their portfolios cost-effectively;

  • Trade ETFs with leverage: FXOpen allows traders to trade ETF CFDs with leverage of up to 1:5, enhancing potential returns on investment.
  • A trusted broker with no conflict of interest: As a True ECN/STP broker, FXOpen prioritizes traders’ best interests, ensuring a transparent and trustworthy trading environment.
  • Customizability: FXOpen’s ETF trading system offers over 1,200 advanced trading tools and a user-friendly interface that can be tailored to individual trading styles and strategies.
  • Ultra-fast execution: Traders can take advantage of market, limit, and stop orders with settings for volume units, stop levels, and slippage. The one/double-click trading mode enables swift order placement throughout the trading day.
  • Comprehensive market depth: FXOpen provides level 2 pricing, allowing traders to explore up to 50 levels of market depth and observe their limit orders within the order book.
  • Access to a wide range of markets: With FXOpen, traders have access to a broad selection of markets, including ETFs, Forex, indices, commodities, and shares, providing ample opportunities for diversification and exploration.


FXOpen offers a comprehensive cryptocurrency trading platform, allowing traders to apply their skills and experience to the crypto market. With deep liquidity and tight spreads, traders can turn their deposits into profits by trading over 40 cryptocurrency CFD markets;

  • Multiple instruments and markets: FXOpen’s platform allows traders to access a variety of instruments and markets, including cryptocurrencies, Forex, indices, commodities, and share CFDs, providing a diversified trading experience.
  • Safety and security of investments: FXOpen ensures the complete safety and security of traders’ cryptocurrency investments, instilling confidence in the platform.
  • Customizability: Traders can personalize the crypto platform according to their preferences, allowing for a tailored trading experience that aligns with their individual strategies.
  • Ultra-fast execution: The platform enables traders to execute market, limit, and stop orders directly from the charts, providing a seamless and efficient trading process.
  • Choice of trading strategy: Traders can utilize ready-made scripts and expert advisors or create custom scripts and indicators to automate their cryptocurrency trades, aligning with their specific trading strategies.
  • Extensive analysis tools: FXOpen offers more than 50 built-in indicators and graphic tools, providing insights, market news, and analysis to support traders’ decision-making process, enabling them to trade cryptocurrencies with confidence.

FXOpen offers a range of trading opportunities across various markets, including Forex, indices, commodities, shares, ETFs, and cryptocurrencies. With a commitment to high standards, a customizable trading experience, extensive analysis tools, and a user-friendly platform, FXOpen provides traders with the tools they need to succeed in their trading endeavors.

  • Forex
  • Indices
  • Commodities
  • Shares
  • ETFs
  • Crypto

How to Trade with FXOpen?

FXOpen is a renowned broker that offers a diverse range of trading platforms to cater to the needs of various traders. With a focus on innovation, advanced features, and user-friendly interfaces, FXOpen provides traders with the tools they need to excel in the financial markets. Let’s look into the details of FXOpen’s trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), TickTrader, and FXOpen Web Terminal, highlighting their unique features and benefits found under the “platforms” section of their website.

A screen capture of FXOpen trading platforms on FXOpen website

Trading Platforms

On FXOpen’s website, several platforms are available. Below, are the more popular ones, but those seeking more information on the rest of the trading platforms can visit this link: FXOpen Platforms.

Myfxbook is FXOpen’s Mirror Trading

A quick note for you if you are a novice trader is that FXOpen provides mirror trading services through Myfxbooks which is a trading account bringing together trading platform, analytical tools and a trading journal. A beginner trader would benefit from the broker’s mirror trading and auto trading services the most as it allows them to reproduce or mirror the trading strategy of a successful trader. This is auto trading at its best according to FXOpen, giving a novice trader a better shot at successful trading rather than risk losing money rapidly.

MetaTrader 4 (MT4)

MetaTrader 4 has long been recognized as the most popular Forex trading terminal globally. Trusted by over 70% of Forex brokers and accounting for more than 90% of retail Forex transactions, MT4 continues to receive prestigious awards year after year. Let’s explore its key features:

  • ECN and Crypto Account Support: FXOpen was the first broker to offer its clients direct access to Interbank liquidity and ECN trading through the MT4 terminal. FXOpen’s Liquidity Aggregator extends the standard capabilities of MT4, ensuring instant and error-free order execution at the best prices from multiple banks and liquidity providers.
  • Multiple Account Modifications: It’s important to note that MT4 comes in different modifications for ECN, STP, and Micro accounts. Traders must download the correct version suitable for their trading account to ensure optimal performance and compatibility.
  • Mobile Forex Trading: MT4 offers mobile versions for iOS and Android, empowering traders to have full control over their trading accounts via smartphones or tablet devices. The mobile app provides essential features, allowing traders to place orders, analyze market trends, view account history, and receive push notifications.

MetaTrader 5 (MT5)

The versatile Multi-Asset Trading Platform MetaTrader 5 developed by MetaQuotes Software Corp. It offers a range of new functions while retaining the familiar interface of MT4. Let’s explore the key features of MT5:

  • Trading Flexibility: MT5 provides traders with a choice of two order accounting systems (netting and hedging), four execution models, and all order types. This flexibility allows traders to adapt their strategies and manage trades effectively.
  • Enhanced Technical Analysis: MT5 offers a comprehensive suite of technical analysis tools, including opening up to 100 charts with quotes simultaneously, tracking price movements across 21 timeframes, and utilizing over 80 technical indicators. These features empower traders to conduct in-depth market analysis.
  • Trading Signals: Traders can subscribe to selected signal providers within the platform and copy the trades of successful traders. This feature allows less experienced traders to benefit from the expertise of seasoned professionals.
  • Mobile and Web Trading: MT5 provides mobile trading apps for iOS and Android devices, enabling traders to access their accounts and trade on the go. Additionally, the web trading option allows traders to trade directly from any web browser without the need for additional software.


The brand-new Multi-Asset Trading Platform TickTrader is offered by FXOpen that allows clients to trade Forex, stocks, commodities, indices, and cryptocurrencies through one trading account. Let’s explore its key features:

  • Multi-Asset Trading: TickTrader enables traders to access multiple asset classes, providing opportunities for diversification. Traders can trade various instruments within a single platform, eliminating the need for separate accounts.
  • Highly Customizable Interface: TickTrader offers a highly customizable and user-friendly interface, allowing traders to personalize panel settings and create trading layouts that suit their preferences and trading strategies.
  • Advanced Technical Analysis: The platform provides an array of traditional indicators and allows traders to create and add their own indicators. Traders can perform detailed market analysis using these tools to make informed trading decisions.
  • Order Strategies and Alerts: TickTrader offers advanced order types, such as One-Cancels-the-Other (OCO), One Triggers Another (OTA), and Ladder of Orders. Traders can create complex market strategies and set up customized alerts to receive notifications based on specific trading conditions.

FXOpen Web Terminal

Convenient and Accessible Trading FXOpen Web Terminal is web-based, hence offers flexibility and accessibility. Here are its key features:

  • No Download Required: FXOpen Web Terminal does not require any software download or installation. Traders can access their accounts and trade directly from any web browser, making it compatible with all operating systems.
  • User-Friendly Interface: The platform features a user-friendly interface, making it easy for traders to navigate and execute trades efficiently. It offers a streamlined trading experience with essential functionalities readily accessible.
  • Reliable Data Protection: FXOpen prioritizes the security of traders’ data and provides reliable data protection measures within the web terminal. Traders can trade with confidence, knowing that their personal and financial information is secure.
  • One-Click Trading: FXOpen Web Terminal supports one-click trading, allowing traders to execute orders swiftly with a single click. This feature is particularly useful for traders who engage in high-frequency trading or scalping.

FXOpen offers diverse trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), TickTrader, and FXOpen Web Terminal. These platforms provide traders with advanced features, comprehensive analysis tools, and accessibility across different devices and operating systems. Whether traders are focused on Forex, cryptocurrencies, or other asset classes, FXOpen’s trading platforms empower them to pursue their trading strategies effectively.

Features MT4 MT5 TickTrader Web Terminal
One-Click or One-Tap Trading Yes Yes Yes Yes
Trade Straight off Charts Yes Yes Yes No
Email Alerts or Push Notifications Yes Yes Yes No
Mobile Alerts Yes Yes Yes No
Stop Order Yes Yes Yes Yes
Market Order Yes Yes Yes Yes
Trailing Stop Order Yes Yes Yes No
OCO Orders (One-Cancels-The-Other) No No Yes No
Limit Order Yes Yes Yes Yes
24hr trading Yes Yes Yes Yes
Charting Package Yes Yes Yes Yes
Streaming News Feed No Yes No No

Note: Please keep in mind that features may vary depending on the specific version or customization of the trading platforms provided by FXOpen.

  • MT4
  • MT5
  • TickTrader
  • Web Terminal

How Can I Open FXOpen Account? A Simple Tutorial

To open an account with this broker, you will first need to head to their website and click on the “live account” button, which is located on the right side of the main menu.

You will then be prompted to choose your region and will be told which entity you will be signing up with. Remember, we discussed how safe this broker is compared to its displayed entities. Always remember that depending on the broker and the entity they use in that region, they might not show all their regulators.

After that you will be prompted with a security screen where you will need to fill in some personal information, including your phone number, email, password, and disclosure agreement.

After completing that, you will have registered and be signed into your client area. Remember at this point, you still need to verify your account.

  • Visit the broker's website and click on the "live account" button.
  • Choose your region and note the entity you will be signing up with.
  • Fill in personal information on the security screen, including phone number, email, password, and disclosure agreement.
  • Complete the registration process and sign in to your client area.
  • Remember to verify your account after registration.

Retail Investor Accounts: ECN and STP Accounts

Essentially, FXOpen offers two types of client accounts: ECN and STP Accounts. These basically give personal account owners assurance of direct trading transactions, without having to transact with a dealing desk but straight to market liquidity providers.

  • ECN Advantages: Transparent pricing, small commissions, ideal for large volume fx trading
  • STP Advantages: Simple pricing structure suitable for novice traders, no separate commission (all charges included in spread)

FXOpen Charts and Analysis

Here we will explore the key features of FXOpen, including PAMM accounts, Myfxbook AutoTrade, live forex news, forex market analysis, market pulse, forex forums, and the help center. Take note that these “resources” are scattered throughout the site, and you will need to search for them specifically if you want to find more details on them.

PAMM Accounts

FXOpen offers PAMM (Percentage Allocation Master Module) accounts, which allow clients to follow the trading strategies of successful traders known as Masters. The Masters operate their personal funds through the PAMM, and the PAMM technology replicates their trading strategy on the accounts of the Followers.

The funds allocated for PAMM trading are segregated from other funds and can only be used for PAMM purposes. This ensures that the trading conditions remain identical for all PAMM participants. PAMM accounts are beneficial for Followers as they can benefit from forex trading without having to conduct extensive market research or trade independently. Masters, on the other hand, can trade funds larger than their own capital and receive a guaranteed fee for their services.

For example, a Master with a capital of USD 10,000 creates an Offer with specific parameters. Follower 1 and Follower 2 decide to follow the Master’s strategy and allocate USD 25,000 and USD 15,000, respectively. This creates a virtual balance of USD 50,000 in the Master’s Account at the start of the trading interval.

Myfxbook AutoTrade

FXOpen offers Mirror Trading through Myfxbook AutoTrade. This feature allows traders to replicate the strategies of successful and experienced traders directly in their own trading accounts. Myfxbook has a strong reputation for independent and reliable analytics, signals, and trader performance charts.

By utilizing Myfxbook AutoTrade, traders can benefit from the expertise and knowledge of profitable traders without having to make rookie mistakes. The platform only accepts experienced providers with live trading accounts and a profitable performance of at least three months. Traders have full control over their accounts and can suspend or opt out of a strategy at any time. They can also set limits for lots, trades, currency pairs, balance, or drawdown.

Forex News Live

FXOpen provides live forex news, keeping traders informed about the latest developments and events that impact the forex market. The news covers various currency pairs, economic indicators, central bank decisions, geopolitical events, and other financial market factors. Staying updated with live forex news can help traders make informed trading decisions and identify potential opportunities.

Forex Market Analysis

FXOpen offers comprehensive forex market analysis to assist traders in understanding market trends, identifying potential trading opportunities, and making informed decisions. The market analysis includes technical analysis, fundamental analysis, and sentiment analysis. Traders can access analysis reports, charts, and expert insights to better understand the market dynamics.

The analysis covers major currency pairs, commodities, indices, and other financial instruments. It helps traders stay ahead of market movements, anticipate potential price fluctuations, and adjust their trading strategies accordingly.

Market Pulse

FXOpen’s Market Pulse feature provides regular updates on market trends, price movements, and significant financial market events. It includes posts from experts and traders discussing market analysis, trading strategies, and trade setups. Traders can gain valuable insights, interact with the community, and stay connected with the latest market pulse.

Forex Forums

FXOpen hosts a vibrant forex forum where traders can engage in discussions, share knowledge, ask questions, and seek advice from fellow traders and experts. The forum covers a wide range of topics, including trading strategies.

  • Market News
  • Market Analysis
  • Market Pulse
  • Help Center
  • PAMM

FXOpen Account Types

FXOpen account types include ECN, STP, Micro, and Crypto. Each account type has its unique features and advantages. Here we will outline, describe, and discuss in detail these trading account types offered by FXOpen. You can find information on the account types by looking at the “trading accounts” section under the “Trading” main menu section.

ECN Trading Account

FXOpen’s ECN (Electronic Communication Network) account is designed to provide traders with direct access to the interbank market. Here are the key features and reasons to choose ECN accounts:

  • Best prices, spreads, and execution: FXOpen utilizes advanced price aggregating technology to source liquidity from top-tier banks, resulting in competitive prices, real market spreads starting from 0 pips, and seamless order execution.
  • No dealing desk: ECN trading matches your orders with those of other participants in the network, ensuring that the broker does not trade against you. This eliminates any conflict of interest between the trader and the broker.
  • All trading styles allowed: Whether you prefer scalping, news trading, automated high-frequency trading (HFT), or using Expert Advisors (EAs), there are no limitations imposed on trading styles within the ECN account.
  • Affordability: A minimum deposit requirement of $100 offers the flexibility to trade with a minimum transaction size of 0.01 lots. Commissions start from $1.5 per standard lot ($100,000), providing cost-effective trading conditions.

FXOpen also offers Gross and Net two types of ECN accounts on their TickTrader platform. Each type serves different trading strategies, offering flexibility and customization options for traders.

STP Trading Account

FXOpen’s STP (Straight Through Processing) account combines the benefits of ECN execution with a low starting deposit of just $10. Key features of the STP account include:

  • Real market execution: STP accounts execute orders directly on the market, ensuring transparency and fair pricing. The broker’s trading commission is included in the spread, which is variable and dependent on the buy and sell orders available in FXOpen ECN.
  • Trading Flexibility: STP accounts support all trading strategies, including automated trading, Expert Advisors, scalping, and hedging. Traders can place pending orders, stop losses, and take profits within a few pips of the market price, even within the spread.
  • Low minimum transaction size: With a minimum transaction size of 0.01 lots and a minimum “step” of 0.01 lots, STP accounts allow traders to start trading with a small volume and manage risk effectively.
  • Leverage and affordability: STP accounts offer leverage of up to 1:500 for accounts under USD 25,000. The low initial deposit requirement of $10 enables traders with small and medium capital to access a real ECN trading environment.

Micro Trading Account

Micro accounts at FXOpen are designed for traders who prefer smaller trade sizes and lower initial deposits. Here are the key features of Micro accounts:

  • Market Maker execution: Micro accounts operate under the Market Maker execution model. They offer the same trading conditions as STP accounts but are denominated in US cents, making them suitable for traders looking to start with minimal risk.
  • Minimal initial deposit and transaction size: Micro accounts have a minimum deposit requirement of just $1, allowing traders to start trading with a small investment. The minimum transaction size is 0.01 micro lots, providing flexibility in position sizing.
  • Wide range of trading instruments: Micro accounts offer a selection of 28 currency pairs, along with gold and silver. This allows traders to access various markets and diversify their trading strategies.
  • Support for Expert Advisors and hedging: Micro accounts enable traders to use Expert Advisors, implement hedging strategies, and apply scalping techniques. They are suitable for both novice traders and experienced professionals seeking low-risk trading opportunities.

Forex Crypto Trading

FXOpen’s Forex Crypto trading account allows traders to trade Bitcoin and Litecoin against USD, EUR, or RUB in a true ECN environment. Key features of Forex Crypto trading include:

  • Crypto trading: The account enables traders to speculate on the price movements of Bitcoin and Litecoin. FXOpen aggregates liquidity from top liquidity providers (exchanges) to offer tight market spreads and low trading commissions.
  • All trading styles allowed: Forex Crypto accounts support all popular Forex trading styles, including scalping, hedging, and the use of Expert Advisors. Traders can fully capitalize on the volatility and potential of cryptocurrencies while utilizing their preferred trading strategies.
  • Leverage and trading hours: The available leverage for Forex Crypto accounts is set at 1:3, allowing traders to amplify their trading positions. Trading is available 24/7, providing flexibility for those interested in cryptocurrency markets.

Wide range of cryptocurrency instruments: The account offers trading opportunities for 43 pairs, including Bitcoin, Bitcoin Cash, EOS, Ripple, Monero, Litecoin, and more. This diverse range of instruments allows traders to explore various cryptocurrency markets.

FXOpen offers ECN, STP, Micro, and Forex Crypto accounts which provide unique features and advantages, including competitive pricing, diverse instrument offerings, trading flexibility, and support for various trading styles. By choosing the account type that aligns with their trading goals and strategies, traders can benefit from a tailored trading experience at FXOpen.

Features ECN Trading Account Micro Trading Account STP Trading Account Crypto Trading Account
Account Currencies USD, AUD, CHF, EUR, GBP, JPY, RUB, SGD, Gold*, mBTC USD USD, EUR, GBP, JPY, RUB, CHF, Gold* USD, EUR, GBP, RUB, JPY, ETC, Bitcoin (mBTC)*, Litecoin (LTC)
Available Leverage Up to 1:500 Up to 1:500 Up to 1:500 1:3
Minimum Deposit $100 $1 From $10 From $10
Commission Per Trade From $1.5 per Standard lot ($100,000)** No commission No commission 0.5% half-turn**
Decimal Pricing 5 decimal places 5 decimal places 5 decimal places 5 decimal places
Trading Instruments 50+ FX Spot CFDs, 35+ Cryptocurrency CFDs, 600+ Shares CFDs, Index CFDs, Spot Metals CFDs & Commodity CFDs 28 currency pairs + gold and silver 50 currency pairs + gold and silver 43 pairs with BTC, BCH, EOS, Ripple, Monero, LTC, etc.
Min. Lot Size Per Trade 0.01 lots (or 1000 units of base currency) 0.01 microlots 0.01 lots 0.01 lots
Max. Lot Size Per Trade No limitations $1,000,000 No limitations No limitations
Spreads Floating, from 0 pips Floating Floating Floating
Demo Account Yes No Yes Yes
Swap/Rollover Free Yes*** Yes** Yes** No, SWAP from 5% per annum***
Hedging Yes Yes Yes Yes
Scalping Yes Yes Yes Yes
Copy Trading Support No No No No
Available to US Residents No No No No

  • ECN
  • STP
  • Micro
  • Crypto
  • Demo

Do I Have Negative Balance Protection with This Broker?

An important aspect that FXOpen emphasizes is the implementation of a negative balance protection policy. Although finding this policy on their website may be challenging, you can access it by visiting the following link.

This protection is a crucial feature for clients engaging in CFD trading. It serves as a safeguard against potential losses exceeding the initial capital invested. CFD trading involves speculating on the price movements of underlying assets without actually owning them. Traders enter into agreements to exchange an asset’s value difference between the contract’s opening and closing. Since CFD trading is conducted on margin, traders only need to deposit a fraction of the total position value.

When a trader predicts that an asset’s price will rise, they can open a buy position. They can close the contract and realize a profit if their forecast proves accurate. Conversely, if the price declines, traders face the decision of whether to accept the losses by closing the contract or holding on in hopes of a future recovery. Similarly, traders can open sell positions when they anticipate an asset’s price will fall. In this case, they profit if the market moves as expected but stand to experience losses if the asset’s value rises unexpectedly.

Given that CFD trading involves risk of great loss, negative balance protection is of paramount importance to clients. It ensures that retail clients cannot lose more than the amount they initially deposited. This protection is especially valuable because professional clients, who may have more experience and larger positions, have the potential to lose more than their initial capital.

Before engaging in CFD trading, it is crucial to have a comprehensive understanding of its intricacies. Successful CFD traders typically possess extensive experience and employ well-developed strategies honed over years of practice. Thorough research and analysis are essential prerequisites for venturing into the world of online CFD trading.

While CFD trading presents opportunities for rewards, it also carries inherent risks. Factors such as fluctuations in supply and demand, as well as geopolitical issues, can significantly impact the market. Acquiring knowledge of these factors enables traders to devise robust strategies that effectively mitigate risks.

  • Yes

FXOpen Deposits and Withdrawals

FXOpen offers clients a range of convenient deposit and withdrawal methods to facilitate seamless transactions. When it comes to deposits, clients can choose from various options, each with its own set of accepted currencies, commission fees, and minimum and maximum amounts. For credit and debit card deposits, FXOpen accepts Discover, JCB, and MasterCard, supporting EUR and USD currencies.

The commission fees for these transactions are 7% + 0.15 EUR or 7% + 0.15 USD, with a minimum deposit amount of 5 EUR or USD and a maximum of 1,000 EUR or USD. WebMoney deposits, available in EUR and USD, incur a 4% commission fee and have a minimum deposit amount of 1 EUR or USD, with a maximum limit of 1,000,000 EUR or USD. FasaPay, accepting USD and IDR, offers free deposits with a minimum amount of 0.01 USD or 10,000 IDR and a maximum amount of 75,000 USD or 700,000,000 IDR. Advcash supports EUR, GBP, and USD currencies, with a commission fee of 0.5% and minimum and maximum deposit amounts of 3 EUR, GBP, or USD and 1,000,000 EUR, GBP, or USD, respectively.

Additionally, FXOpen enables deposits in Bitcoin, BitcoinCash, Litecoin, Ethereum, and Tether, each with its own specific requirements.

Regarding withdrawals, FXOpen caters to client needs with various accepted currencies, commission fees, and minimum and maximum amounts.

SorexPay facilitates credit and debit card withdrawals in USD and EUR, subject to a commission fee of 3.5% + 3.5 USD or 3.5% + 3.5 EUR. The minimum withdrawal amount is 10 USD or EUR, with a maximum of 2,000 USD or EUR. Paypaid allows withdrawals in THB, with a 2% commission fee and minimum and maximum amounts of 10 THB and 10,000,000 THB, respectively. WebMoney withdrawals are available in USD, with a commission fee of 0.8% and minimum and maximum amounts of 1.01 USD and 1,000,000 USD. FasaPay supports withdrawals in USD and IDR, with a commission fee of 0.5% and minimum and maximum amounts of 1 USD or 10,000 IDR and 25,000 USD or 250,000,000 IDR, respectively.

Advcash withdrawals are possible in USD and EUR, with a commission fee of 0.5% and minimum and maximum amounts of 1 USD or EUR and 1,000,000 USD or EUR. Similar to deposits, Bitcoin, BitcoinCash, Litecoin, Ethereum, and Tether can be used for withdrawals, each with its own specific requirements.

FXOpen’s wide array of deposit and withdrawal methods allows clients to choose the option that best suits their preferences and needs. The availability of multiple currencies and the varying commission fees cater to clients from different regions and facilitate cost-effective transactions. The minimum and maximum amounts provide flexibility, accommodating both small-scale and large-scale investors. By offering diverse deposit and withdrawal methods, FXOpen aims to provide clients with convenient and efficient financial operations, ensuring a seamless trading experience.

  • VISA
  • Mastercard
  • Webmoney
  • Fasapay
  • AdvCash
  • Bitcoin
  • Litecoin
  • Ethereum
  • Tether

Support Service for Customer

FXOpen prioritizes exceptional customer support and offers multiple channels through which clients can reach out for assistance. Clients can find the contact information under the “Contact Us” section on the FXOpen website. One of the primary communication methods is email, and clients can reach the company at sales@fxopen.com. This email is specifically designated for non-clients who are interested in learning more about FXOpen’s services.

To provide a comprehensive customer support experience, FXOpen also offers a dedicated Customer Support Portal. Clients can access this portal to submit a ticket, choosing the relevant department that corresponds to their query. Clients can easily initiate communication and seek assistance by logging into the Customer Support Portal using their email and MyFXOpen password. It’s important to note that all communications are subject to FXOpen Communication Policy, ensuring transparency and adherence to guidelines.

For clients who prefer direct communication, FXOpen provides phone support. Clients can reach out to the New Zealand phone number +64-9-801-0123. The customer support hours for general information and inquiries via Live Chat are available 24/5. Additionally, tickets to FXOpen’s sales, finance, trading desk, and support departments are addressed during the hours of 7 to 16 (GMT), Monday to Friday.

Having robust and accessible customer support channels is crucial for both brokers and clients in the financial industry. Good customer support ensures that clients receive timely assistance and guidance, allowing them to navigate any challenges or queries they may encounter. Brokers like FXOpen recognize the importance of providing effective customer support as it fosters trust and strengthens client relationships.

For clients, reliable customer support serves as a valuable resource. It enables them to seek clarification on trading-related matters, resolve account issues, and receive guidance on using the broker’s platform and services. Timely and accurate responses to client inquiries contribute to a positive trading experience, instilling confidence and satisfaction.

On the other hand, brokers benefit from efficient customer support by enhancing their reputation and attracting and retaining clients. Brokers can build trust, loyalty, and long-term partnerships by promptly addressing client concerns and providing knowledgeable assistance. Strong customer support reflects a broker’s commitment to client success and contributes to a positive brand image in the competitive financial market.

In summary, FXOpen recognizes the significance of customer support and offers various channels, including email, a Customer Support Portal, and phone support. These channels empower clients to seek assistance conveniently, fostering a positive trading experience. By prioritizing effective customer support, FXOpen aims to establish trust, enhance client satisfaction, and reinforce its position as a dependable broker in the industry.

FXopen Customer Support Overview
Supported Languages English, Russian, Chinese (Simplified and Traditional), Spanish, Portuguese, Arabic, Indonesian, Malay, Thai, Vietnamese, German, French, Italian, Polish, and Turkish
Customer Service By FXopen
Customer Service Hours 24/5
Email Response Time Within a day
Telephonic Support Yes
Personal Account Manager Yes

  • Supported Languages: English, Russian, Chinese (Simplified and Traditional), Spanish, Portuguese, Arabic, Indonesian, Malay, Thai, Vietnamese, German, French, Italian, Polish, and Turkish
  • Customer Service Channels: Forums, live chat, phone, email, support ticket
  • Customer Service Hours: 24/5

Prohibited Countries: Where Can I Not Trade with this Broker?

FXOpen is a well-established broker known for its comprehensive trading services in the foreign exchange market. The company operates under the trading name FXOpen Markets Limited and is duly registered in Nevis under company number C 42235. As a member of The Financial Commission, FXOpen strives to uphold high standards of transparency and fairness in its operations. However, it is important to note that there are certain restrictions on where FXOpen can offer its services.

FXOpen’s Allowed Operating Locations FXOpen is authorized to operate in various countries and regions around the world. The specific list of allowed operating locations may vary but generally includes many countries in Europe, Asia, Africa, and Oceania. The presence of FXOpen in these locations is often facilitated by regulatory frameworks that govern financial services and ensure consumer protection. By complying with the regulations of these jurisdictions, FXOpen can provide its services to clients in a secure and legally compliant manner.

FXOpen’s Restricted Operating Locations While FXOpen operates in numerous countries, it is important to recognize that there are certain regions where the broker is not permitted to offer its services. One notable example is the United States, where FXOpen does not provide services to residents. This restriction is primarily due to the regulatory requirements imposed by the US authorities. Additionally, FXOpen may have limitations in countries such as Belgium and Japan, where specific local laws and regulations prohibit or restrict the distribution of certain financial services.

Compliance with Regulations and Laws The restriction of FXOpen’s operations in certain jurisdictions reflects the importance of complying with regulations and laws governing financial services. These regulations serve to protect clients, promote market integrity, and mitigate risks associated with trading activities. By adhering to regulatory requirements, brokers like FXOpen demonstrate their commitment to maintaining the highest standards of professionalism and ethical conduct. It also ensures that clients can have confidence in their funds’ safety and the trading environment’s reliability.

FXOpen operates in various countries and regions around the world, providing trading services to a wide range of clients. However, it is essential to understand that regulatory restrictions may limit the availability of FXOpen’s services in certain jurisdictions, such as the United States, Belgium, and Japan. Compliance with regulations and laws is paramount for brokers to protect clients and the financial markets’ overall stability. As traders, it is important to be aware of the regulatory landscape and choose brokers that operate in accordance with applicable regulations to safeguard our investments and trading activities.

  • North Korea
  • Iran
  • Belarus
  • USA

Special Offers for Customers

FXOpen, a reputable broker in the forex market, offers special promotions and competitions to enhance the trading experience for its clients. Information about these promotions can be found in their website’s dedicated “Promos” section. While the available details may be limited, these promotions significantly foster client engagement and morale.

Forex Contests and Competitions

FXOpen provides various forex trading contests and competitions, offering participants the opportunity to earn real-money prizes and bonuses. ForexCup, a platform associated with FXOpen, organizes regular weekly and monthly trading contests for demo accounts. Some contests are free to join, while others may require a small entry fee. FXOpen also hosts trading competitions on their forum, where clients can stay updated on announcements and discuss trading strategies.

ForexCup Trading Championship 2023

One notable competition offered by FXOpen is the ForexCup Trading Championship 2023. This contest spans an entire year and invites investors, traders, and portfolio managers to participate in a fair and reliable global competition. The main prize for this championship is an impressive $50,000 in cash, awarded to the participant with the highest profit at the end of 2023.

To join, participants need an active FXOpen ECN account and must meet the minimum trading deposit requirement while adhering to the contest rules. Traders can choose from a wide range of instruments within their jurisdictions, including spot FX, indices, commodities, stocks, metals, or crypto CFDs. The winner of the championship receives a cash prize of $50,000 without any additional conditions, along with personalized crystal trophies for the top three participants.

Competitions and special promotions are vital for brokers like FXOpen as they serve multiple purposes. Firstly, they create a sense of excitement and engagement among clients, motivating them to actively participate in trading activities. Competitions allow traders to test their skills, experiment with strategies, and gain valuable experience in a risk-free or controlled environment. These events also provide an opportunity for traders to showcase their abilities and potentially earn substantial rewards.

From a broker’s perspective, competitions and promotions contribute to client retention and loyalty. By offering attractive prizes and bonuses, brokers can incentivize traders to stay with their platform and deepen their trading involvement. Additionally, these events help brokers attract new clients and establish their brand as a reputable and customer-centric entity within the industry.

FXOpen’s special promotions and competitions, though limited in information on their website, play a crucial role in enhancing client morale and engagement. These events provide traders with opportunities to earn real-money prizes and bonuses, refine their trading strategies, and gain valuable experience. Competitions like the ForexCup Trading Championship create a fair and competitive environment for participants to showcase their skills and potentially win substantial cash prizes. Overall, promotions and competitions demonstrate FXOpen’s commitment to fostering a vibrant and engaging trading community.

  • ForexCup Trading Championship 2023

FXOpen Review Conclusion: Reputable Broker with Easy-to-use Platform

The broker operates within the regulatory framework and complies with the laws of the jurisdictions in which it is allowed to operate


Based on our review, FXOpen appears to be a reputable broker in forex trading. They offer a wide range of trading instruments, including spot FX, indices, commodities, stocks, metals, and crypto CFDs, allowing clients to diversify their portfolios. The broker provides multiple account types, including ECN accounts, and supports frequently used trading platforms like MetaTrader 4 and TickTrader. Furthermore, FXOpen emphasizes the importance of security and regulation, being a member of The Financial Commission.

FXOpen demonstrates transparency by clearly outlining their deposit and withdrawal methods and their customer support channels. They offer various funding options for instant deposits and fast withdrawals, catering to the diverse needs of their clients. Moreover, they provide customer support through email, a customer support portal, and phone, ensuring that clients can reach out for assistance when needed.

The broker operates within the regulatory framework and complies with the laws of the jurisdictions in which it is allowed to operate. However, it’s important to note that FXOpen does not provide services for residents of the United States, and their website explicitly states that the information is not intended for the public of Belgium and Japan, or any person in a country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Summary and Key Takeaways

In summary, FXOpen is a trustworthy broker that provides a secure trading environment and strives to meet the needs of its clients through competitive offerings and robust customer support. Traders can benefit from their diverse range of trading instruments and the opportunity to participate in trading contests, while the broker maintains a commitment to regulatory compliance and client satisfaction.

  • FXOpen is a reputable broker in the forex market, offering a range of trading instruments and account types.
  • They provide competitive trading contests and special promotions to enhance the trading experience for clients.
  • The broker emphasizes security and regulation, being a member of The Financial Commission.
  • FXOpen offers various deposit and withdrawal methods to facilitate easy and fast transactions.
  • Their customer support channels include email, a customer support portal, and phone, ensuring prompt assistance.
  • FXOpen operates within the regulatory framework and complies with the laws of the jurisdictions they are allowed to operate in.
  • It’s important to note that FXOpen does not provide services for residents of the United States, and certain restrictions may apply in other jurisdictions.
  • Reputable broker with a focus on security, regulation, and customer support
  • Offers a wide range of trading instruments and competitive trading contests
  • Multiple account types and support for popular trading platforms
  • Provides various funding options for deposits and fast withdrawals
  • Not available for residents of the United States; certain restrictions may apply in other jurisdictions
  • Emphasizes transparency and compliance with regulatory requirements

  • Reputable broker with a focus on security, regulation, and customer support
  • Offers a wide range of trading instruments and competitive trading contests
  • Multiple account types, including ECN accounts, and support for popular trading platforms
  • Provides various funding options for deposits and fast withdrawals
  • Not available for residents of the United States; certain restrictions may apply in other jurisdictions
  • Emphasizes transparency and compliance with regulatory requirements


What is the minimum deposit for FXOpen?

The minimum deposit amount for FXOpen varies depending on the account type and funding method. It is best to check the website or contact customer support for specific details.

What is the minimum withdrawal for FXOpen?

The minimum withdrawal amount for FXOpen may vary depending on the payment method chosen. It is advisable to refer to the website or contact customer support for accurate information.

Is FXOpen regulated?

Yes, FXOpen is a regulated broker. It is registered in Nevis under the company name FXOpen Markets Limited. However, it does not provide services to residents of the United States.

How do I withdraw money from FXOpen?

To withdraw funds from FXOpen, you can use the available withdrawal methods provided by the broker. The steps may vary depending on the chosen method, but generally, you must log into your FXOpen account, navigate to the withdrawal section, and follow the instructions provided. It is recommended to refer to the website or contact customer support for detailed guidance on the withdrawal process.

3 reviews for FXOpen 2024 Review: Is FXOpen a Legit Broker?

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  1. Razrfx

    FXOpen is a legit broker, I have used this broker for more than two years, and during that time trading with the MetaTrader 5 platform has been smooth without any problems, it’s just that sometimes the MT4 platform needs to be updated when the Old version appears.

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  2. Syomkin Aleksandr

    I have not studied the topic of brokers too much. It so happened that back in 2009 this broker became my main and then the only one. In principle, this service is enough for me. All I need in my case is to trade profitably, the broker fulfills its part.

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  3. scalperfx

    Overall, my experience with FXOpen has been positive. They’ve got the essentials covered. reliable platforms, competitive pricing, regulatory compliance, and responsive support. Of course, trading always carries risks, but with FXOpen, I feel like I’m in good hands.

    + PROS: well regulated
    - CONS: not many option for deposit
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    FXOpen 2024 Review: Is FXOpen a Legit Broker?
    FXOpen 2024 Review: Is FXOpen a Legit Broker?
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