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FXOpen review

FXOpen


On-line since: 2005
Country of origin: Seychelles
Regulation: The FSC license was terminated in May 2010 - are not regulated
Payment options: WebMoney, Liberty Reserve, Wire Transfer, AlertPay, Perfect Money, CashU, e-Gold
Minimum account size: from $25 for standard accounts , ECN/STP from $1000
Minimum lot size: 0,1 lot
Leverage: from 1:1 to 1:500
Spreads: 0,5 pips on EUR/USD

About the company:

FXOpen Company was established in 2003 as an educational project, offering team and individual lessons on technical analysis at the securities and Forex market. The Company offers dealing services since 2005. Since the beginning of 2009 FXOpen provides for its clients trading via the Electronic Communications Network (ECN) with a direct execution of orders on the basis of MetaTrader 4 terminal, moreover, the Broker also offers swap-free accounts.

FXOpen 4/10 (votes 1770)
Author of FXOpen: Wilbert | Date 2020-11-20
There are many reasons why I always warned every traders not to open an account with them. One is they never replied e-mails. The connection and execution is terrible, I have been stopped out of trades prematurely numerous times with no compensation offered by FX open. Auto updates on the MT4/Meta quotes platform cut me from three swing trades only yesterday, after a call to Fx open they tell me this sort of error happens occasionally. This is so unnatural to me. I'm not used to this kind of uncertainty, and I don't like a very late response. Not informative from the start. They should be more open about what happened, so it would be easier to deal with bad odds.
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Author of FXOpen: Alexandra | Date 2020-07-03
It's almost two weeks since I tried to withdraw my profit but I never heard any word from them. hey have a very lousy service. Everything in their website and system doesn't work satisfactorily. First of all, compared with other brokers, I think that their trading cost is a lot higher.
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Author of FXOpen: Nirbasih | Date 2020-03-31
I put my first deposit of $100, I lost because of poor internet conditions. Trading twice, my deposit was $ 250, and with the same mistake, I lost again and lost $ 200. I feel a strange thing. I will not resume trading with FX Open. Enough 2 times suffered losses. Continuously I have been losing my money for bad service, So OctaFX didn't suit with my trading strategy. I say FX Open didn't care me as well.
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Author of FXOpen: Pietro | Date 2019-10-28
I have been encountering problems with my platform since two months ago. Trading with FXOpen has always been smooth that is why I don't understand why it suddenly changed. Their platform used to be very stable but now, orders are no longer executed well and the platform itself often crashes. Even during a calm market condition, it does not perform well. I already complained about this to the broker but they don't seem to be bothered by it.
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Author of FXOpen: nirwana | Date 2019-09-20
Trading with Forex Mart is easy, but they still need to fix some bugs with the platform which sometimes has delays. I am a client for the past 10 months and I trade with a standard account currency pairs EUR/USD, USD/CAD, USD/JPY. I have average profit of $400 a month. I had negative slippage two times which I lost $100 , but still the broker is honest regarding their commissions.
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Author of FXOpen: Vitor | Date 2019-03-15
I started trading at FXOpen last year. I had a good start. The platform is running well. Just rare lags but tolerable. And the spread is tight. I was also assigned with an account manager who guided me with my trades.I was honestly grateful to him before but not anymore. Recently, I've noticed some trades that I didn't do and most of them were losing trades. As it turns out, my account manager actually has access to my account and made those trading actions. I didn't know about this and he never asked for permission.
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Author of FXOpen: Honui | Date 2018-10-12
I have an account with FXOpen. I started two years ago with a deposit of $200. Their spreads are low at 2 pips but it was lower when I was using a demo account (1 pip). So that part was kinda deceiving. But I like the performance and stability of their platform except during news release. But if you are a trader like me who doesn't trade on news, then you wouldn't have any problem. In fact, I am gaining steady profits. I also made withdrawals three times already summing up to $330. However, all of those withdrawals were delayed for 2-3 days. I always complain to them regarding that and asked them to hasten the processing of withdrawals and each time, they just tell me that they're working on it. I'm still staying with them despite that because although it is delayed, at least it is guaranteed to be transferred to me. But of course it would be better if they could improve on that.
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Author of FXOpen: fxgamasukakal | Date 2018-08-08
My boyfriend recommend me to join FXOpen because base on his experience, this broker set trading spreads only 0,5 pips on EUR/USD and gives bonus up to 30% of your deposit when trading. I am very interested in this broker besides because those factor, also because this broker use the trading platform Meta Trader 4. But after joining for a while, their trader should make deposit for ECN/STP from $1000. Isn't that too high for beginners ? I still do not have a definite decision, whether to join a broker or not.
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Author of FXOpen: Vanass | Date 2018-01-02
Firstly, I have received quite good earnings from trading with this broker. I can trade without complicated rules and I never doubt that my account would be compromised. Last week I traded EUR/USD as my usual routine and gladly I gain profit by 30%. It was great because their platform was easy to use and there was never delays or anything that would make my opened positions be closed. I would totally recommend it to my family and friends.
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Author of FXOpen: Lionfx | Date 2017-11-29
This broker FXOpen is one of the worst in the market . I started at first using their demo account which worked great. After I deposited 100$ and opened a Standard Micro account the platform MetaTrader 4 started to have delays in execution and the spread is during volatility times from 0.5 pips for EUR/USD up to 5pips. I called their support service and they are just hanging up the phone and never reply or called back. I traded only for 2 months with them and closed my account, now they are calling me to re-open.
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