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FXOpen

Cyprus|10-15 years|
Market Making(MM)|White label MT4|Regional Brokers|

https://www.fxopen.eu/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
FXOpenUK-ECN Demo Server MT4
Server Location United Kingdom

Contact

+357 25024000
info@ambprime.com
https://www.fxopen.eu/
38 Spyrou Kyprianou Street, CCS BLDG - Office N101, 4154 Limassol, Cyprus

Licenses

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

Single Core

1G

40G

Open Now

Contact number

English

+357 25024000

Other ways of contact

Broker Information

More

Company Name

FXOpen EU Ltd

Abbreviation

FXOpen

Platform registered country and region

Cyprus

Company website
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FXOpen · WikiFX Survey
Good A Site Visit to AMB Prime in Cyprus
Cyprus

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FXOpen · Company Summary

Company Summary

Company profile

Registered Country/Region Cyprus
Regulation CYSEC
Minimum Deposit 300 USD/300 EUR
Maximum Leverage 1:30
Minimum Spreads From 0 pips
Trading Platform MT4 &MT5, TickTrader
Demo Account Available
Trading Assets Forex, Indices, Commodities, Shares, ETFs, Cryptocurrency
Payment Methods Bank Wire Transfer, Credit Card
Customer Support Phone & Email support

General Information & Regulation

FXOpen EU is a trading name of FXOpen EU Ltd. FXOpen EU Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 194/13. FXOpen EU offers retail and professional trading available markets including forex intruments, indices, commodities, shares, etc through popular MT4 & MT5 trading platform.

Market Instruments

FXOpen provides investors with access to popular tradable instruments on the financial markets, including Forex (major, minor, and emerging currency pairs), indices, commodities, stocks, cryptocurrencies.

  • Forex - Trade over 50 majors, minors, and exotic currency pairs including CBP/USD and EUR/GBP

  • Indices-Trade nine global indices including FTSE 100, DAX 40 and S&P 500

  • US Shares- Invest in leading US companies via CFDs such as Amazon and Apple

  • Commodities-Speculate on five commodity CFDs such as crude oil, gold and Ripple

  • Cryptocurrencies- Speculate on five commodity CFDs such as Crude oil, Gold and Silver

  • ETFs-Speculate on the performance of a group of share baskets and diversify your exposure within a certain sector or region

Account Types

Two account options are offered at FXOpen platform. The minimum deposit for both accounts is 300 USD/300 EUR, slightly higher than most brokers' initial deposit requirements.

account-type

Demo Accounts Available

FXOPEN offers a free demo account on any of the three platform options. You can sign up for the demo account prodile via the broker's homepage.

You can access up to $1,000,000 in virtual funds to trade risk-free and test the platform environment.

The ECN or STP demo server will remain accessible as long as you log in each month. You can then upgrade to a live real-money account when you're ready.

Leverage

Leverage is 1:30 for major currency pairs, 1:20 to 1:30 for minor currency pairs, 1:20 for emerging currency pairs, 1:20 for indices, 1:10 to 1:20 for commodities, 1:5 for stocks, and 1:2 for cryptocurrencies. The difference lies in that ECN accounts can trade currencies, cryptocurrencies, stocks, metals, energies, and index CFDs, while STP accounts can trade only currencies and metals CFDs.

Spreads & Commissions

The main spreads on Forex are 0.2 pips minimum for EURUSD, 0.3 pips minimum for GBPUSD, and 0.3 pips minimum for AUDUSD. Commissions are charged at $3.5 per lot for Forex transactions up to $1000, $2.5 per lot for $1000-$25,000, $1.8 per lot for $25,000-$250,000, and $1.5 per lot for trades over $250,000. The main spreads of the indices: 2.4 pips for the UK 100, 0.9 pips for the U.S. Hakko Tech 100, and 1.7 pips for the Wall Street 30 (Mini). 0.0075% commission for index products trading below $1000, 0.005% commission for $1000-$25,000 and 0.005% commission for greater than $25,000. Major spreads for commodities: 0.31 pips for XAUUSD minimum, 0.02 pips for XGUUSD. Major spreads on stocks: 2.65 pips on Tesla, 0.45 pips on Appl, 0.86 pips on Facebook, 0.01% commission on stocks. Bitcoin has a minimum spread of 62.6 pips with a commission of 0.5% per side.

Trading Platform

FXOpen offers traders the current market-leading and popular MT4 and MT5 trading platforms and VPS and FIX API.

Deposit & Withdrawal

FXOpen offers its users a variety of safe and convenient deposit and withdrawal channels, mainly wire transfer, which supports EUR/USD/GBP with a minimum deposit of 300 EUR/USD/GBP and a minimum withdrawal of 50 GBP/EUR/USD. There is no commission for the wire transfer deposit, but a commission of 15 GBP/EUR/USD30 is required for withdrawal. Besides, Visa/MasterCard is also supported, and this method supports EUR/USD/GBP, the minimum deposit is 50 EUR/USD/GBP, the maximum amount is 10,000 EUR/GBP/USD.

deposit-withdrawal

Trading Hours

Trading hours for forex, indices, and commodities run from 22:00 on Sunday to 22:00 on Friday (UK time). All crypto instruments are tradable 24 hours a day, 7 days a week.

Accepetd Regions

FXOpen accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries. Traders can not use FXOpen from Belgium, Japan, United States.

Pros & Cons

Pros Cons
  • CYSEC-regulated
  • No US Clients
  • Tight spreads & low commissions
  • Conservative leverage
  • Demo accounts available
  • Withdrawal fees apply for some methods
  • Negative balance protection
  • No access to all trading instruments on some accounts
  • MT4, MT5 & TickerTrader Platforms
  • 7/24 crypto trading

Frequently Asked Questions

What leverage is available at FXOPEN?

Maximum leverage varies depending by trading entity. UK and EU investors can utilize leverage up to 1:30 and global investors can apply for leverage up to 1:500. You can change margin within your client order. Ensure you have risk management strategies in place if trading with high leverage.

Is FXOPEN suitable for beginners?

FXOPEN is suitable for both beginners and experienced traders, with a low minimum deposit requirement and access to educational content.

What financial markets does FXOPEN provide?

You can trade on indices, Forex, Commodities, ETFs, Shares, and Cryptocurrencies.

What live trading accounts does FXOPEN provide ?

FXOPEN offers two types of trading accounts: STP & ECN.

Does FXOPEN offer demo accounts?

Yes, demo accounts are available with FXOPEN.

Registered in Cyprus
Regulated by CYSEC
Year(s) of establishment 5-10 years
Trading instruments Currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks
Minimum Initial Deposit $300
Maximum Leverage 1:30
Minimum spread 0.0 pips onwards
Trading platform MT4, MT5, own platform TickTrader
Deposit and withdrawal method Bank Wire Transfer, Credit Card
Customer Service Email/phone number/address/live chat
Fraud Complaints Exposure No for now

General information and regulations of FXOpen

FXOpen is a trading name of FXOpen EU Ltd. FXOpen EU Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 194/13. FXOpen offers retail and professional trading available markets including forex instruments, indices, commodities, shares through popular MT4 & MT5 trading platform.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on.

At the end of the article, we will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.

Market instruments

Currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks.....FXOpen allows clients to access a huge range of trading markets. Therefore, both beginners and experienced traders can find what they want to trade on FXOpen.

market instruments

Spreads and commissions for trading with FXOpen

The spreads and commissions depend on instruments and accounts. Only ECN account has a commission of 1.5 USD, and its spreads level is also lower.

Account Types for FXOpen

Demo Account: FXOpen provides a demo account that allows you to try out the financial markets without the risk of losing money.

Live Account: FXOpen offers a total of 2 account types: Beginner, Trader, Expert and VIP. The minimum deposit to open both accounts is 300 USD o EUR. Their major differences consist in the business model, spreads, commissions and the access to the markets. The ECN account has a commission of 1.5 USD and a wider range of market access.

account types

Trading platforms offered by FXOpen

As for the trading platform, FXOpen provides its clients with many options. There are public platforms such as MT5 and MT4 that have served many clients worldwide, also FXOpen's own platform TickTrader. If you didn't want to spend time familiarizing yourself with a new platform, you could choose MT5 and MT4. But FXOpen's own platform provides better compatibility with businesses, as they are specially developed and customized platforms. The choice is yours.

trading platform

Leverage offered by FXOpen

The maximum leverage offered by FXOpen is only 1:30, which may seem too low to you. In reality, those leverage of up to 1:500 or even 1:1000 are all from unregulated or offshore regulated brokers, and as we know, offshore regulation is much less strict regulation. For brokers that are formally regulated by the major regulatory bodies, they can only offer leverage of 1:30 or 1:50 at best, which is sufficient for the novice Forex trader. Lower leverage reduces the potential gains on trades, but more importantly, it reduces much of the risk. We recommend that you always keep your account risk at 2% or less.

Deposit and withdrawal methods and fees

In terms of deposit and withdrawal, like many good brokers, FXOpen provides a detailed form with important information about currency, payment method, minimum amount, arrival date, fees, etc. The feasible payment methods are

We noted that for withdrawals with bank transfer, there is a commission of 30 USD/15 GBP/15 USD.

deposit and withdrawal

Educational resources

A series of educational resources is available at FXOpen, such as margin and pip value calculator, economic calendar, market news, market pulse, basic knowledge, etcetera.

educational resources

Customer support of FXOpen

Below are the details about the customer service.

Language(s): English, French, German, Italian, Spanish, Turkish, Chinese, Portuguese, Russian, etcetera.

Service Hours: 9am-8pm (Eastern European Time)

Email: support@fxopen.eu

Phone Number: +357 25024000

Address: 38 Spyrou Kyprianou Street, CCS BLDG - Office N101, 4154 Limassol, Cyprus

Social media: Facebook, Instagram, LinkedIn, YouTube, twitter, telegram

customer support

Users exposures on WikiFX

We have not received any reports of fraudulent activity at this time. However, this does not necessarily mean that this broker is safe and you should remain vigilant to prevent being scammed.

Advantages and disadvantages of FXOpen

Advantages:

Well regulated

MT4, MT5

Sufficient information

Educational resources

Many instruments available

Demo account

Negative balance protection

Disadvantages:

Deposit and withdrawal fees

No copy trading

Frequent asked questions about FXOpen

Is this broker well regulated?

Yes, it is currently effectively regulated by CYSEC in Cyprus.

How much leverage does this broker offer?

The maximum leverage of FXOpen is 1:30. Please note that this leverage may only be available for some accounts and products. Please consult our articles or the dealer's website for specific information.

News

FXOpen and TradingView Join Forces on Mobile

NewsFXOpen and TradingView Join Forces on Mobile

2024-06-26 17:41

FXOpen has broadened its partnership with TradingView, making their integration available on mobile apps. This update enables traders to use FXOpen via TradingView's mobile applications, providing enhanced flexibility.

WikiFX
2024-06-26 17:41
News
FXOpen and TradingView Join Forces on Mobile
FXOpen: Three New Currency Pairs Added to Expand Asset Pool

NewsFXOpen: Three New Currency Pairs Added to Expand Asset Pool

2023-05-31 11:49

FXOpen expands the asset pool with three new currency pairs. USD/HUF, EUR/HUF, and USD/CZK offer increased trading opportunities in thriving markets. Learn more about the broker's commitment to customer service and enhancements to its services, including the elimination of trading commissions on index CFDs and a reduced minimum trade size. Catering to the diverse needs of global traders, FXOpen remains a reliable platform for seasoned traders in the global financial markets.

WikiFX
2023-05-31 11:49
News
FXOpen: Three New Currency Pairs Added to Expand Asset Pool
FXOpen Lowers Minimum Size For Trades On Their Platform

NewsFXOpen Lowers Minimum Size For Trades On Their Platform

2023-05-04 11:20

FXOpen, a global FX and CFD broker, has lowered the minimum trade size on index CFDs from 0.1 lot to 0.01, while also introducing commission-free trading. The company offers an extensive range of markets and is regulated by the UK's FCA and Australia's ASIC.

WikiFX
2023-05-04 11:20
News
FXOpen Lowers Minimum Size For Trades On Their Platform
WikiFX Reviews FXOpen | Is It Trustworthy?

NewsWikiFX Reviews FXOpen | Is It Trustworthy?

2023-04-19 17:38

In today's article, WikiFX will explore FXOpen in depth, examining its features, fees, safety measures, deposit and withdrawal options, trading platforms and customer service to help you make an informed decision on whether or not to entrust this platform.

WikiFX
2023-04-19 17:38
News
WikiFX Reviews FXOpen | Is It Trustworthy?

User Reviews

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Comments

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Alexia
more than one year
Well mates I had a pretty bad experience with FXOpen, I lost everything, I couldn’t withdrawal after trading and after sometime I was locked out of my account, and that was it, I don’t see anything good with this broker, after my loses I started trading with, benarmstrong-trades. com and I’ve not had any issue with my withdrawal, I was able to make $9,000 in a week. Another thing about FXOpen is their customer service won’t respond, Ben Armstrong offers the best, that where i trust.
2023-03-07 07:09
Reply
0
1
more than one year
The company is registered in Cyprus and regulated by CYSEC. I noticed that its leverage is controlled at 1:30, which is a very sensible level. I know I shouldn't try too high a leverage, so FXOpen's leverage is not a disadvantage for me. I'm going to open a demo account and try it out!
2023-02-20 18:37
Reply
0
0
FX1240953418
more than one year
I've been trading with fxopen for some time, and I feel that this company is worth recommending. For now there is no scams or severe slippages in my account.
2023-02-16 09:58
Reply
0
0
Peter67
more than one year
I am trading with FXOpen and was mainly attracted by their zero spreads and the ability to do trading using their web based Tick Trader platform. Spreads are almost zero which allows for more profits in overall trading with them.
2022-11-30 23:22
Reply
0
0
Tracy94203
more than one year
I suggest that you should first open a demo account since its minimum deposit reaches $300, not suitable for beginners. I bet you will regret if you open a real one. Its demo account is filled with $1,000,000 virtual money for you to practice your trading strategies… This broker says it provides competitive spreads, however, this should be tested on demo accounts first. By the way, its trading platform is quite smooth and powerful, no latency… Lastly, professional traders can use the leverage up
2022-11-18 13:58
Reply
0
0
FX1013773968
more than one year
I have been trading with fxopen for a few months and I really like its leverage! Very suitable for scalpers like me. plus I have access to both MT4 and MT5. The only downside for me is their deposit and payment methods. Only cryptocurrencies are available.
2022-11-16 18:34
Reply
0
0
承远-外汇理财 信用融资
more than one year
FXOpen seems to offer everything i want. I can trade with MT4 or MT5 demo accounts and enjoy tight spreads although low commissions may be charged. But.. the minimum initial capital is too unfriendly for we beginners, $300? crazy?
2022-11-16 15:47
Reply
0
0
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