Score
FXOpen
Cyprus|10-15 years| https://www.fxopen.eu/
Website
Rating Index
MT4/5 Identification
MT4/5 Identification
White Label
United KingdomContact
Licenses
Single Core
1G
40G
Contact number
+357 25024000
Other ways of contact
Broker Information
More
FXOpen EU Ltd
FXOpen
Cyprus
Pyramid scheme complaint
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WikiFX Verification
Cyprus| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:30 |
| Minimum Deposit | 300 |
| Minimum Spread | -- |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:30 |
| Minimum Deposit | 300 |
| Minimum Spread | -- |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | $1.5 |
- Fundamental Item(A)
- Total Supplementary Items(B)
- Debt Amount(C)
- Non-Fixed Capital(A)+(B)-(C)=(D)
- Relative amount of risk(E)
- Market Risk
- Transaction Risk
- Underlying Risk
Capital
$(USD)
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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.
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.
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
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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.
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.
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.
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.
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.
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
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
NewsFXOpen and TradingView Join Forces on Mobile
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.
WikiFXNewsFXOpen: Three New Currency Pairs Added to Expand Asset Pool
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.
WikiFXNewsFXOpen Lowers Minimum Size For Trades On Their Platform
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.
WikiFXNewsWikiFX Reviews FXOpen | Is It Trustworthy?
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.
WikiFXReview 7
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