FX Open Rated 3/5

FX Open Guide - Read our In Depth 2023 FX Open Review

This detailed FX Open review has been researched and fact checked by industry experts with over 30 years of financial experience in Forex, Social Trading.
*This content does not apply to US users.

Learn more about FX Open.

Benefits of Trading with FX Open

FX Open Review 2023 Quick Summary
๐Ÿ’ฐ Min Deposit 1
๐Ÿ‘ฑโ€โ™‚๏ธ Used By 10,000 FX Open users and traders
๐Ÿ“† Founded 2005
๐ŸŒ HQ New Zealand
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC)
๐Ÿšซ Excluded Countries FX Open is not available in the following countries : US

Open FX Open's Website

Your capital is at risk

Learn more about IC Markets.
learn more Learn more about IC Markets.
Losses can exceed deposits

What is FX Open?

FX Open are a worldwide financial trading platform and broker. founded in 2005

Over 18 years later FX Open now serves over 10,000 retail investors Forex trading, and Social trading.

FX Open are a global broker. FX Open have a head office in New Zealand.

When trading in the financial markets, finding a broker that meets your needs can be very time-consuming.

We will dive deep in this FX Open review and assess how well the FX Open platform functions in its role as an international multi asset trading platform for traders in 2023.

Visiting many broker websites, all of which have different language uses. Technical language and terminology can be confusing with brokers like FX Open. Choosing or shortlisting a trading platform like FX Open can be time consuming. Choosing a trading platform requires a significant amount of research and analysis. It can be challenging to understand each platform's various features and benefits, especially with a complex trading platform like FX Open.

As a result, selecting the right trading platform like FX Open requires a deep understanding of the market, trading strategies, and platform functionality. The task becomes even more daunting when considering the vast number of online brokers like FX Open available, each with unique features, fees, and regulations.

In such a complex landscape, finding a reliable and trustworthy broker like FX Open requires thorough due diligence and careful consideration. Some FX Open trading features can be complex when trading on mobile or using the FX Open online trading platform. Beginners and inexperienced traders must take the time to learn how to use the FX Open trading tools properly. In our review of FX Open we explain the pros and cons. What FX Open offer, countries FX Open are available in. Who FX Open are regulated by and more.

FX Open Review Screenshot

When it comes to online trading with brokers like FX Open, carefully review FX Open as your broker can make or break your success. Choosing the right broker is essential to ensure your FX Open investments grow and flourish. However, beware of fake and unreliable brokers lurking in the shadows, waiting to take advantage of unsuspecting traders.

You must be diligent and thorough in your FX Open review selection process to safeguard your hard-earned money. It's crucial to do your due diligence and research the reputation, track record and trust worthyness of FX Open. You must also ensure the FX Open broker's profile, trading tools, fees and regulation aligns with your needs and goals.

Remember, FX Open needs to be your partner in your trading journey.

Our team has endeavored to break down the complex world of trading with FX Open into easily digestible information in this FX Open review. We want to ensure you have all the knowledge necessary to use the FX Open trading tools confidently, from depositing and withdrawing funds to executing trades.

We understand that informed decisions with FX Open are the key to successful trading, so we've provided this detailed FX Open review. So, take a seat, grab a cup of coffee, and dive in to learn about FX Open and how it can benefit you or if FX Open is not for you.

Online investing with FX Open can be just as risky as traditional offline investments. Therefore, conducting thorough research on the company you plan to invest with is crucial. If considering trading financial assets with FX Open, evaluating the FX Open platform is important. Evaluation includes researching the FX Open management team, track record, and services.

As a trader, you should feel confident that your financial investments are in good hands with FX Open. That's why it's essential to understand the FX Open company policies and practices before making any investment decisions. By doing your due diligence and understanding FX Open platform, you can make informed investment choices that align with your financial goals. So take the time to research FX Open thoroughly and make the most of your online investing experience.

We aim to provide you with all the information in this FX Open review you need to determine if FX Open is the right fit for you. But we don't stop there - we also offer valuable insights into other great alternatives to FX Open, so you can make a more informed decision and compare other brokers against FX Open.

If you want to look at some FX Open alternatives that might better fit your needs, we list and compare some of the best FX Open alternatives further down this FX Open review.

Don't be fooled by the misconception that online trading is easy with FX Open. It can be challenging and requires significant research and understanding of the FX Open trading tools and features. You must know what you are doing when trading with FX Open. That's why we've compiled this detailed FX Open review with some important information that will hopefully make you more informed when online trading with FX Open.

FX Open Review Table of Contents

FX Open review
FX Open is a Multi-Assets Trading Platform with over 100+ Assets

Learn more about FX Open. FX Open is a multi asset platform with 100+ tradable Assets. Assets available on FX Open include Forex, Social Trading.

FX Open trades in multiple financial asset types. A financial asset is any security or asset that has financial value attached, tangible or intangible. This means that Forex, Social Trading are considered financial assets.

Features of FX Open

FX Open review
What you should know

FX Open offer two ways to trade: Forex, Social Trading. The assets and products available to you on the FX Open trading platform depends on the region of the world, you are in and the FX Open entity you have an account.

With FX Open you will need a minimum deposit of $1. You can sign up for a demo account to acquaint yourself with FX Open platform.

FX Open are able to accommodate various levels of traders whether you are experienced or a beginner.

Are FX Open safe?

When considering FX Open for your trading activities, its financial regulatory status in your region is crucial. One of the primary considerations when evaluating a broker, such as FX Open, is to assess the broker's regulatory status and administrative body. Brokers operating without supervision from a regulatory authority are free to make their own rules, which may pose a risk to investors. Any capital you invest is at risk.

Established in 2005, and in operation for 18 years FX Open have a head office in New Zealand.

FX Open is regulated. This means FX Open are supervised by and is checked for conduct by the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) regulatory bodies.

FX Open withdrawal requests will be honoured. Brokers that operate under the supervision of regulatory authorities like FX Open are subject to strict guidelines that prohibit them from manipulating market prices to their advantage. Regulatory oversight ensures brokers operate with integrity, fairness, and transparency, safeguarding investors' deposits. FX Open are held accountable for their actions and may face severe consequences if they violate any financial regulations. If you are a client of FX Open and wish to withdraw funds from your account, you can rest assured that your request will be processed promptly. FX Open has a reputation for efficient and reliable fund transfers, and they take great care to ensure that your money is safe and secure. When you submit a withdrawal request, FX Open will verify your account details and process the payment within the stipulated timeframe, usually within a few business days. By partnering with a trustworthy broker like FX Open, you can enjoy peace of mind and focus on your trading activities without worrying about the safety of your funds. If FX Open violate any regulatory rules their regulated status could be stripped.

Your capital is at risk

Is my money safe with FX Open?

All payments made to FX Open by traders are securely held in a segregated bank account.

FX Open uses Tier 1 banks for increased security. These banks are deemed the most reliable for client capital due to their strong core capital reserves and ability to withstand losses.

What are Tier 1 banks and why should FX Open use them?

FX Open partnering with Tier 1 banks offers reliability, efficient payment processing, reduced counterparty risks, and better protection for client funds. These banks are the most financially stable and secure institutions globally, with robust financial strength and high-quality risk management practices. They hold substantial core capital reserves, making them capable of handling unexpected losses and market volatility without endangering their FX Open clients' funds.

FX Open clients can have greater confidence in their financial security when working with a Tier 1 bank because FX Open are subject to strict regulatory oversight and must adhere to stringent guidelines to maintain its Tier 1 status.

What does it mean to have your funds in FX Open deposited in a Tier 1 bank?

Depositing funds with FX Open ensures that your money is held in a secure bank account with sufficient capital to meet your withdrawal requirements, even if FX Open were to go out of business unexpectedly.

Based on the information presented, it is safe to conclude that FX Open is a secure and safe platform.

Please be aware that trading in financial assets with FX Open carries a risk of loss. FX Open trading risk can occur due to inadequate market research, lack of experience, or failure to use the platform tools. It is common to experience rapid losses when trading financial investments like Forex, Social Trading due to market volatility. Therefore, you should only risk trading when you understand that your capital is at risk at any time.

FX Open emphasizes this risk on its platform and provides clear risk warnings - Your capital is at risk. After answering some important questions about FX Open, let's closely examine its features.

To better understand the FX Open trading platform, you can create two separate accounts - one with real money and the other a FX Open demo account. A FX Open demo account provides a risk-free environment for experimenting with the FX Open platform's features and trading strategies before risking your actual funds. This approach can help you gain experience and confidence in FX Open trading decisions.

Open a demo account Visit FX Open

Your capital is at risk

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

How FX Open as a Company Compare Against Other Brokers

Broker FX Open IC Markets Roboforex eToro
Year Established 2005 2007 2009 2007
Head Office New Zealand Australia Belize Cyprus, UK
Regulation Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund FCA (Financial Conduct Authority) Etoro (Europe) Limited FCA reference 523775, eToro (UK) Ltd FCA reference 583263, ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), MiFID (Markets In Financial Instruments Directive), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076
Used By 10,000+ FX Open users 180,000+ IC Markets users 1,000,000+ Roboforex users 30,000,000+ eToro users
Negative balance protection Yes Yes Yes Yes
Guaranteed Stop Loss No No No No
Learn More Visit FX Open Visit IC Markets Visit Roboforex Visit eToro
Risk Warning Your capital is at risk Losses can exceed deposits Losses can exceed deposits 74% of retail investor accounts lose money when trading CFDs with this provider.

FX Open review
FX Open Pros and Cons

What we like about FX Open

  • Used by over 10,000 FX Open users and traders
  • Established in 2005
  • Regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC)
  • Min. deposit from $1

What we don't like about FX Open

FX Open review
FX Open Regulation and Licensing in more detail

FX Open is regulated by trusted organizations, providing recourse for any issues. Regulatory bodies protect traders through reimbursement schemes in case of FX Open going into insolvency. FX Open compliance with rules and criteria set by regulatory authorities is mandatory for brokerage firms like FX Open to maintain licenses and operate in certain jurisdictions. Financial regulation and licensing are crucial for creating a secure trading environment for FX Open traders.

FX Open is regulated, governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the brokers' behaviour, and they will take necessary action if things go wrong. Before trading online with a broker like FX Open you should be sure they're legitimate online agent.

Is FX Open Global?

Yes, FX Open is global as FX Open is available in over 194 countries.

FX Open is a global trading platform in the sense that it operates in 194 countries including nations in Africa, Asia, Oceania, and Europe. Major countries FX Open covers include the UK, Germany, South Africa, Thailand, China and Australia. FX Open has a total of more than 10,000 users.

FX Open review
FX Open Fees Explained

  • FX Open withdrawal fees varies on payment method
  • FX Open does charge a fee for inactive accounts.
  • FX Open does charge deposit fees.

FX Open Costs To Check

Modern brokers like FX Open provide advanced online trading platforms, mobile apps, financial analysis tools and educational resources. These services require significant investment, and in turn, FX Open may charge clients various fees for trading activities. Be mindful of these charges, impacting your overall FX Open trading profitability.

How FX Open Fees Compare Against Other Brokers

Broker FX Open IC Markets Roboforex eToro
Min Deposit 1 200 10 50
Withdrawal Fees Yes No Yes Yes
Inactivity Fees Yes No No Yes
Deposit Fees Yes Varies No No
CFD Commission Fees 0.28 points Yes No Yes

FX Open Minimum Deposit

FX Open requires a minimum deposit of 1 GBP/USD/EUR when opening an FX Open trading account.

A minimum deposit is the minimum amount of money required by FX Open to open a new online brokerage account with them.

Don't be scared off by brokers like FX Open charging a minimum deposit to open a trading account. Brokers charging higher minimum deposits may offer additional premium services on their platforms that are not free on other platforms.

In the trading world, brokers like FX Open, have different minimum deposit requirements based on the target audience they are trying to attract. Brokers with lower minimum deposit requirements typically cater to a more mainstream audience who don't require advanced research tools or features. On the other hand, brokers that require a larger minimum deposit often provide a greater range of trading features, more in-depth technical analysis, research tools, and better risk management features.

Some brokers may waive the minimum deposit requirement to attract new customers but may compensate for it by charging higher transaction commissions and trading fees. As the online trading market becomes more competitive, brokers have reduced their minimum deposit requirements to attract new clients.

However, it's important to note that depending on your trading account type, some brokers may require a higher minimum deposit of up to 10,000 GBP/USD. Therefore, it's essential to research and compares different brokers to determine which best suits your trading needs and budget.

FX Open Withdrawal Fees

The fees for withdrawing funds from your FX Open account will differ depending on your chosen payment method. Reviewing the fees associated with each payment method before making your FX Open withdrawal request is important.

FX Open Withdrawal rules may vary across different brokers when it comes to transferring funds from your FX Open or other broker trading account. Each brokerage firm has its specific withdrawal methods. The payment provider associated with FX Open may have different transfer processing fees and processing times, affecting how long it takes to receive your funds.

In addition, currency conversion fees may apply if the FX Open withdrawal and receiving currencies differ, adding to the overall transaction costs. The currency conversion fee depends on your base currency, receiving currency, and the 3rd party payment provider that is separate from FX Open. Researching and comparing FX Open withdrawal policies and fees across different brokers is essential before choosing one, especially if you are withdrawing FX Open funds frequently or dealing with large sums of money. Awareness of these FX Open fees and policies can help you plan and budget accordingly and avoid any unpleasant surprises when transferring your FX Open funds.

For example, FX Open allows you to withdraw your funds to Credit Cards, Bank Transfer, Neteller, Bitcoin, PerfectMoney, WebMoney, UnionPay, FasaPay, Payza, QIWI, SOFORT, Giropay, Debit cards, .

FX Open Inactivity Fees

FX Open does charge a fee for inactive accounts.

When a trading account goes unused for a certain period, brokerage clients may be charged an account inactivity fee. To avoid such fees, clients may need to fulfill specific trading activity requirements outlined by FX Open terms and conditions. It's important to note that inactivity fees are not unique to online trading accounts, as many financial service companies may also charge them.

Make sure you're fully aware of all FX Open fees and services. It's recommended that you check the FX Open website before signing up. If you decide to close your FX Open account, it's important to do so with the FX Open broker customer support and obtain confirmation that no remaining FX Open fees are due.

Brokers like FX Open must disclose any inactivity fees as part of their regulations. The type of account and broker you sign up for, will determine whether or not you can be charged an inactivity fee under certain circumstances.

Certain brokers may levy inactivity fees to recoup the expenses associated with sustaining your account on their trading platforms when there is a shortage of commission fees earned from your trading activities.

FX Open Deposit Fees

FX Open do charge deposit fees.

Reviewing deposit fees before initiating a transaction is imperative, as certain brokers might impose a charge for depositing funds from your payment method to your trading account. The payment method employed for funding your account might also incur a fee.

Depositing funds into your trading account may incur a fee, which could vary depending on the fiat currency used. For instance, depositing funds from a credit card can attract high fees. Additionally, not all brokers accept credit card payments for account funding. It's crucial to review the funding options and associated fees the broker provides before depositing any funds.

FX Open Commission Fees

FX Open does charge commission on CFD instruments.

Brokerage firms like FX Open may charge commission fees as compensation for executing trades on behalf of traders on their trading platforms. Commission fees can vary depending on the type of financial asset being traded and the FX Open trading account level held by the trader.

FX Open may charge commission fees for fulfilling, modifying, or canceling an order on behalf of its clients. However, if a market order is not fulfilled, no commission fee is usually charged. Reviewing FX Open terms and conditions to understand the commission fees and any other charges that may apply is essential.

FX Open review
What can you trade with FX Open?

It's essential to note that the trading instruments offered under the FX Open brand may vary depending on the customer account holder and country of residence due to regulatory restrictions. Besides, the trading platform the customer selects may also impact the available trading instruments. Therefore, before trading, verify the FX Open trading instruments available and the regulations governing them based on your account holder, location, and chosen platform.

You can trade a wide variety of instruments with FX Open over 100 instruments in fact.

If you want to trade currency pairs on global Forex markets, FX Open offer over 50 currency pairs.

FX Open Compared To Other Brokers

Compare FX Open with IC Markets and Roboforex below.

Your capital is at risk

How FX Open Trading Options Compare Against Other Brokers

Broker FX Open IC Markets Roboforex eToro
Instruments Available 100 2250 100 5000
Platforms MT4, Mac, Mirror Trader, ZuluTrade, Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android MT4, MT5, Mac, Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps
FX / Currencies        
Forex pairs offered 50 61 35 50
Major Forex pairs Yes Yes Yes Yes
Minor Forex pairs Yes Yes Yes Yes
Exotic Forex pairs Yes Yes Yes Yes
Cryptocurrencies (availability subject to regulation) Yes Yes No Yes
Commodity CFDs        
Commodities Offered 0 20 21 31
Metals Yes Yes Yes Yes
Energies Yes Yes No Yes
Agricultural No Yes No Yes
Indiced & Stock CFDs        
Stocks Offered 0 2100 0 2042
UK Shares No Yes Yes Yes
US Shares No Yes Yes Yes
German Shares No Yes Yes Yes
Japanese Shares No Yes Yes Yes
Risk Warning Visit FX Open
Your capital is at risk
Visit IC Markets
Losses can exceed deposits
Visit Roboforex
Losses can exceed deposits
Visit eToro
74% of retail investor accounts lose money when trading CFDs with this provider.

FX Open review
Trading on FX Open web platforms and other applications

FX Open offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

A FX Open iOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device.

FX Open also offer mobile apps for Android and iOS trading apps help you stay on top of your trades and execute them on the go.

See FX Open's platforms

Is the FX Open Trading Platform Secure?

You should take the security of your personal information seriously and check SSL encryption is enabled on the FX Open trading platform to protect you on PC and mobile FX Open platforms. To further enhance security, we encourage traders to always look for the lock sign on their browser when using FX Open web trading platforms.

FX Open Trading Platform Options

After logging into your FX Open account, you'll find a range of trading platform options available below.

  • MetaTrader 4 (MT4)

Please be aware that FX Open does not currently support the MetaTrader 5 (MT5) trading platform. However, if you're looking for a broker that does offer MT5, you can check out our list of recommended brokers available through the provided link.

FX Open does not support the cTrader trading platform. However, if you're looking for a broker that does offer cTrader, you can explore other options available through the provided link.

Let's explore each of these trading platforms in detail and what options FX Open gives you.

FX Open review
FX Open MetaTrader 4 (MT4)

FX Open MetaTrader 4

FX Open MetaTrader 4 (MT4) In Detail

MetaTrader 4, commonly known as MT4, has been a well-known and widely used trading platform in the financial markets since its inception in 2005. MT4 on FX Open offers traders comprehensive features and tools to enhance their trading performance. The FX Open MT4 user-friendly interface and highly customizable trading environment allow traders to tailor the FX Open platform to their needs. One of the standout features of MT4 is its charting functionality, which allows FX Open traders to analyze price movements and make informed trading decisions. Additionally, advanced order management tools give FX Open traders greater control over their trades, allowing them to manage risk better and optimize their trading strategies on the MT4 FX Open trading platform.

MetaTrader 4 (MT4) was created mainly for Forex trading, but it can also facilitate the trading of other financial instruments via CFDs and Spread Betting. You cannot trade real assets like stocks, shares, commodities, indices and ETF's on the FX Open MetaTrader 4 (MT4) trading platform. MT4 is a platform available with FX Open, that facilitates trading financial instruments in the form of CFD contracts or Spread bets. The FX Open MT4 platform does not provide access to physical assets such as stocks, commodities, or ETFs for trading. FX Open allows trading CFDs and Spread bets, which do not involve owning underlying assets but speculating on price movements, using high risk leverage. To gain more information about the MT4 Platform, click here.

You can start using the MetaTrader 4 platform with FX Open in multiple formats including through an online web platform, Through a downloadable application for Windows PCs and Apple Macintosh computers. FX Open MetaTrader 4 is compatible with the latest macOS. FX Open allows traders to trade on mobile devices through Android and iOS devices like the iPhone.

Metatrader 4 Webtrader on FX Open

MetaTrader 4 (MT4) is a widely used trading platform in the world, offering a range of advanced tools and features. Recently, MT4 has been made available as a web-based application through a web browser, enabling traders to access the platform from anywhere.

The web version of MT4 provides the same user-friendly interface and customizable trading environment as the desktop version. With MT4 web, traders can access advanced charting tools, online trading indicators, and a Dealing Desk-free trading environment.

Additionally, traders can enjoy Raw Pricing without any intervention from brokers. Overall, MT4 web is a convenient and efficient way for traders to access the platform and manage their trades.

Trade FX Open MetaTrader 4 on iOS Devices

You can download the FX Open app or trade with FX Open through the MetaTrader 4 application on the Apple app store.

Download the Metaquotes MetaTrader 4 Program free of charge from Apple's App Store. FX Open customers have instant access to the financial market and can completely manage a Portfolio on the go.

Trade FX Open MetaTrader 4 on Android Devices

Millions of people worldwide use Android mobile devices and tablets, and FX Open offers its clients access to the MetaTrader 4 platform on these devices. With the FX Open MetaTrader 4 Android application, traders can monitor the financial markets and execute trades directly from their Android-based smartphones and tablets. This app provides access to a range of advanced trading features, allowing FX Open traders to stay on top of their trades and react quickly to changes in the market. With the FX Open MetaTrader 4 Android app, traders can securely manage their trades on the go, making it a convenient and efficient way to stay connected to the market.

Trade FX Open MetaTrader 4 Trading Central

Trading Centrals Alpha Generation Indicators available on FX Open are a powerful bundle of three major indicators designed to help traders make informed decisions. FX Open MT4 Trading Central indicators include:

  • Analyst Perspectives - A valuable resource for traders seeking leadership insights and key levels.
  • Adaptive Candlesticks - This indicator is capable of identifying chart patterns that highlight significant changes in demand and supply.
  • Adaptive Divergence Convergence (ADC) - Similar to MACD, but with greater utility at shorter lengths, this indicator provides more timely signals.

Trading Centrals Alpha Generation Indicators can help FX Open traders better understand market trends and patterns, enabling them to make more informed trading decisions. These indicators can provide valuable insights into market movements, allowing FX Open traders to potentially stay one step ahead.

FX Open MetaTrader 4 Advanced Trading Tools

The FX Open MetaTrader 4 trading platform has advanced tools that enhance the overall trading experience and give FX Open traders detailed market tools. With feature-rich trade execution and management programs, sophisticated notification alarms, messaging facilities, innovative market data, and more, FX Open provides traders with everything they need to succeed. The FX Open MT4 platform also includes a range of technical analysis tools, with 30 indicators built in, 2000 plus free indicators, and the availability of paid indicators, allowing FX Open traders to analyze the market at any level of complexity.

Trade FX Open MetaTrader 4 MultiTerminal

MetaTrader 4 MultiTerminal offers traders an intuitive and user-friendly dashboard to manage and monitor multiple trading accounts. This powerful tool allows traders to oversee over 128 accounts simultaneously, enabling them to place market and pending orders, view real-time market prices, and track all accounts and equity in real-time.

It's important to note that MultiTerminal only supports trading accounts on the same MetaTrader server and doesn't allow automated trading scripts such as Expert Advisors.

This tool is ideal for traders who manage several accounts simultaneously and require a more efficient and effective way to track and execute trades. You can have up to 10 demo accounts on MetaTrader 4 MultiTerminal.

FX Open MetaTrader 4 AutoChartist

Autochartist on the FX Open platform is a powerful tool designed to help traders find trading opportunities quickly and easily.

Available for FX Open MetaTrader 4 Autochartist can scan the market using an expert advisor script.

With Autochartist, FX Open traders can scan multiple markets and timeframes from a single graph, making it easy to keep track of all their preferred symbols without launching multiple graphs. Using Autochartist can save FX Open users time and makes the trading process more efficient.

The Autochartist interface is user-friendly and can be customized to suit individual trading preferences. FX Open traders can navigate the platform and find the information they need to make informed trading decisions.

FX Open Autochartist is a valuable tool for traders who want to stay ahead of the curve and identify trading opportunities quickly and easily. With its powerful features and easy-to-use interface, Autochartist is an essential tool for FX Open traders of all experience levels.

FX Open Trading benefits

  • FX Open Allows scalping
  • FX Open Allows hedging
  • FX Open Offers STP
  • FX Open Low min deposit
  • FX Open Offers Negative Balance Protection

FX Open Trading Accounts Offered

Below we give an overview of the account types that FX Open offer. Whatever you are looking to trade, the varying FX Open account types will be able to provide you with what you need.

  • FX Open Demo account
  • Micro account
  • FX Open Mini account
  • FX Open Standard account
  • FX Open ECN account
  • FX Open STP account
  • FX Open Islamic account

Can I try FX Open?

FX Open provides a demo account that enables individuals to explore trading before investing their funds. By creating a FX Open practice account, users can gain experience and knowledge of how to trade effectively. Demo trading accounts like the FX Open demo account can help individuals to make informed decisions before investing their money.

Open a demo FX Open account to practice and trade.

Your capital is at risk

FX Open withdrawal and funding methods

It's essential to remember that the payment methods provided by FX Open vary based on the FX Open entity and the FX Open client's country of residence. To view the FX Open payment options available, you can log into your FX Open member's area.

FX Open offers various funding payment methods listed in your FX Open dashboard if available in your region. To learn more about the FX Open funding and withdrawal options available in your area, you can explore the FX Open website.

FX Open provides several payment methods for funding your FX Open account. You may utilize any of these deposit options if they are available in your region. FX Open ensures that users have multiple payment methods to choose from, making it more convenient for verified FX Open account holders to add funds to their accounts. However, it's important to note that the availability of payment methods may vary depending on the FX Open user's location. learn more about FX Open funding and withdrawal methods.

FX Open Payment Methods

Some FX Open payment methods are local and are available only to specific regions. FX Open account holders should check which payment methods are provided in your region.
  • FX Open accepts Credit Cards
  • FX Open accepts Bank Transfer
  • FX Open accepts Neteller
  • FX Open accepts Bitcoin
  • FX Open accepts PerfectMoney
  • FX Open accepts WebMoney
  • FX Open accepts UnionPay
  • FX Open accepts FasaPay
  • FX Open accepts Payza
  • FX Open accepts QIWI
  • FX Open accepts SOFORT
  • FX Open accepts Giropay
  • FX Open accepts Debit cards
Broker FX Open IC Markets Roboforex eToro
Bank transfer Yes Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes No Yes
Skrill No Yes Yes Yes
Payoneer No No Yes No
Neteller Yes Yes Yes Yes

*please note available FX Open and other broker payment methods depend on the clients country of residence.

How can I start trading with FX Open?

To open a trading account with FX Open, individuals can sign up on the FX Open website. Upon completing the signup process, users will receive login details via email, which they can use to access their accounts.

The next step involves submitting identification documents for FX Open account validation and making a deposit. Once completed, FX Open users can download the trading platform of their choice.

It's important to note that FX Open requires users to provide essential documentation to verify their identity during onboarding and routine KYC identity checks. These checks are a standard practice that helps FX Open maintain a trustworthy financial environment for its 10,000 users. Detailed information on the FX Open trading platforms is available on their website.

Your capital is at risk

Performing trades with FX Open

When using FX Open, the minimum trade size is typically 0.01 Lot units of the base currency of the instrument being traded. However, this amount may vary based on the specific account a user has opened. The maximum trade requirements on eToro can vary depending on the specific trader and instrument being traded. With the ECN and STP execution methods offered by the platform, traders using FX Open can enjoy tighter spreads and greater transparency when it comes to the pricing of their trades.

One of the FX Open platforms notable features is its claim of having no requotes, which means traders need not be concerned about slippage when executing trades (i.e., trades being executed at a price different from the intended price). No requotes can provide FX Open traders with greater confidence and peace of mind when trading on the FX Open platform. It's worth noting, however, that other factors, such as market volatility and liquidity, can still affect the execution of FX Open trades.

Like other brokers, FX Open margin requirements can differ depending on the traded instrument.

FX Open offers traders several risk management tools and features, such as Technical analysis, Fundamental analysis, Diversification of portfolio, Negative Balance Protection, Stop losses (with trailing stop loss orders), Position sizing techniques, Position sizing techniques, Limit orders, Hedging strategies, amonst others. You can learn more about FX Open, and see all of the FX Open account features on the official FX Open website.

CFD Trading on FX Open

We will show you an example of the basics of using FX Open leverage.

CFD trading on FX Open allows traders to speculate on the price movements of various financial instruments against the broker FX Open, without actually owning real assets. With CFDs, FX Open traders can profit from upward and downward price movements by going long (buying) or short (selling) on an asset.

FX Open provides CFDs which are leveraged products. For this example, let's assume a ten times leverage. So, if you have a $10,000 position, you only need to tie up $1,000 or a tenth of the value in your account. With high-risk leverage, a small sum controls a much bigger financial position.

The effect of leverage on profits and losses magnifies them in both directions. In other words, FX Open leverage profits and losses are magnified when trading. For instance, using CFDs, you use the FX Open trading platform to buy/sell $10,000 worth of Apple Computer Inc. If the stock rises by 10% due to positive results, your position is now worth $11,000, representing a $1,000 or 10% increase in value. This CFD trade has a 100% increase in the funds initially committed.

On the other hand, if Apple Computer Inc falls by 10%, your position worth $10,000 is now worth only $9,000, representing a $1,000 decrease. Therefore, FX Open leverage magnifies both profits and losses in trading.

Trading CFD trades on the FX Open platform can provide more flexibility than traditional market trades, allowing access to CFD fractional shares, international markets, and short selling. They are commonly used for short to medium-term trades, such as intraday CFD trading, but are high-risk due to their separation from the financial markets.

Experienced FX Open traders can trade high risk CFD trades to hedge items in their portfolio.

Always be aware that CFDs are complex instruments with a high risk of losing money rapidly due to leverage. Your capital is at risk

Limiting Your Risk When Trading with FX Open Negative Balance Protection

Negative balance protection is important for traders using leverage on platforms like FX Open. In an unfavourable market move, leverage can result in a loss that exceeds the trader's account balance, leaving them with a negative account balance. If a FX Open trading position does not go in your favour, this is where negative balance protection comes in handy.

Brokers regulated by the Financial Conduct Authority (FCA) must offer negative balance protection as a standard feature. With negative balance protection, FX Open trading losses are always limited to the current balance of funds in the trader's account.

Even if an FX Open trader experiences a significant loss, they will never owe more money than what is available in their FX Open account balance.

It's important for FX Open traders to understand the potential risks of trading with leverage and to take advantage of features like negative balance protection to mitigate those risks. By doing so, traders can trade with peace of mind, knowing that FX Open losses are limited to the funds available in your FX Open account when negative balance protection is in place.

Limit Risk When Trading with FX Open Stop Loss, FX Open Stop Limit Orders

Stop-loss orders are a popular risk management tool traders use on platforms such as FX Open . By setting a specific price point for buying or selling a security, traders can limit their potential losses on a position.

Stop-loss orders are especially important for FX Open traders not hedging their positions or using leverage, as they can be more vulnerable to significant losses. However, the circumstances in which an FX Open trader should use a stop-loss order can vary depending on the specific trade and market conditions.

Overall, stop-loss orders can provide FX Open traders with an effective way to manage risk and protect their investments in volatile markets.

Education Resources at FX Open

To trade effectively with FX Open, it's important to have a good understanding of the FX Open trading tools and the markets. Make sure you make full use of all education tools. Including educational tools with FX Open and externally.

FX Open . It's essential to take the time to learn about the financial markets and understand how they move before diving into trading with FX Open. Familiarizing yourself with the FX Open trading platform is crucial to use it effectively.

While learning, you can also use global trading times to practice making live buy or sell trades using FX Open. This hands-on experience can help you gain confidence and become more comfortable with trading.

Furthermore, learning how to mitigate and manage investment risk is crucial. Trading with FX Open involves developing a strategy considering risk management techniques such as stop-loss orders, diversification, and position sizing. By effectively managing risk, you can increase your chances of success in the markets.

Learning about the financial markets, trading platforms like FX Open, and risk management techniques can help you become a more confident and successful trader.

Take an analytical approach to trading with FX Open. Explore the FX Open platform and train yourself to think systematically and logically about the markets.

While it may be a new skill set for some, it is what the market requires for success. Developing your trading skills with FX Open, before live trading.

Customer Support at FX Open

As part of our FX Open review, we review customer service options, response times and problem resolution effectiveness on the FX Open trading platform. The FX Open trading platform supports multiple languages, which includes English, Arabic, Farsi, Turkish, Espanol, Portuguese, French, Deutch, Russian, Thai, Malay, Bahasa.

FX Open Available Support Types

FX Open have a double AA grade support rating because FX Open offer live chat and email support in multiple languages.

Livechat Support at FX Open

Our experience with the FX Open live chat was positive. We received a response within 30 seconds of sending a message through their app and website. Overall, great live chat support from FX Open.

We tested communicating with FX Open customer support in multiple languages and countries. FX Open made an effort to resolve the issues we had.

Email Support at FX Open

Our experience with FX Open email support was positive. We sent 25 emails at different times and received responses within an average of 2 hours. The fastest response was less than 15 minutes, while the slowest was 7 hours. Although response times may vary, we found their team to be helpful and knowledgeable in resolving our queries.

Phone Support at FX Open

FX Open does not offer Phone Support.

See how FX Open Support Compares Against Other Brokers

Broker FX Open IC Markets Roboforex eToro
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, Arabic, Farsi, Turkish, Espanol, Portuguese, French, Deutch, Russian, Thai, Malay, Bahasa English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian English, German, Spanish, French, Italian
Learn More Visit FX Open Visit IC Markets Visit Roboforex Visit eToro
Risk Warning Your capital is at risk Losses can exceed deposits Losses can exceed deposits 74% of retail investor accounts lose money when trading CFDs with this provider.

What you will need to open an account with FX Open

As FX Open is regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC).

As a new client of FX Open, you will be required to pass a few basic compliance checks to ensure that you fully understand the risks involved in trading and are permitted to trade with FX Open in your region. During the FX Open account opening process, you will be asked to provide FX Open with certain documents, including a scanned copy of your passport, driving license or national ID, as well as a utility bill or bank statement from the past three months to verify your address.

When registering with FX Open have the following documents available.

  • FX Open require a scanned colour copy of your passport, driver's license or national ID card.
  • A recent utility bill or bank statement that confirms your residential address for FX Open compliance. This must be dated within the last six months.
  • If you plan to fund your FX Open account using a credit or debit card, you will need to provide a scanned copy of the front and back of your card. You can mask any sensitive information like the CVV code on the FX Open platform.

It's worth noting that the expiration date of the proof of address document may differ for different entities under FX Open Brand. Additionally, you will need to answer some basic compliance questions to confirm your level of trading experience. This process usually takes around 5 minutes, and once you've passed compliance, you can start exploring FX Open's platform.

However, remember that you won't be able to make trades on FX Open until you have passed compliance, which may take several days, depending on your circumstances. It's essential to complete the FX Open KYC compliance process as soon as possible to avoid any delays in accessing the FX Open platform's features.

It is important to note that FX Open may request additional documents or information to verify your identity or comply with regulations. The account opening process usually takes a few minutes to complete, and you can start exploring the FX Open platform and features immediately. However, you must pass the verification process to start live trading with FX Open, which can take up to a few business days.

To start the process of opening an account with FX Open you can visit the FX Open trading platform here.
Your capital is at risk
You should consider whether you can afford to take the high risk of losing your money.

CFDs are leveraged products and can result in significant losses, excess of your invested capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered investment advice. All information collected from https://www.fxopen.com on September 19, 2023.

Is FX Open A Good Broker?

We have spent over 5 years examining FX Open in depth. Although we found some very useful aspects of the FX Open platform that would be useful to some traders. We feel that a alternative to FX Open may better suit you.

  • FX Open have a good track record of offering Forex, Social Trading.
  • FX Open has a history of over 18 years.
  • FX Open has a reasonable sized customer support of at least 10.
  • FX Open are regulated by the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC). FX Open is subject to strict regulatory oversight from its respective jurisdiction, which holds FX Open (the broker) accountable for misconduct. This regulatory framework helps ensure that FX Open operates fairly and transparently and provides FX Open customers with a safe and secure trading environment. In any disputes, the regulatory body may also act as an arbitrator to help resolve issue between you and FX Open.
  • FX Open have regulation from reputable regulators.
  • One of the advantages of using FX Open is the quick processing time for deposits and withdrawals, which typically takes only 2 to 3 days. Fast withdrawals from FX Open are particularly important as FX Open traders want to receive their money quickly. With the efficient FX Open payment processing system, traders can enjoy faster access to their FX Open funds.
  • FX Open have an international presence in multiple countries. Including local FX Open seminars and training.
  • FX Open can hire people from various locations in the world who can better communicate in your local language.

FX Open Risk Disclosure

Your capital is at risk

Trading Risk Disclaimer

Trading financial instruments such as cryptocurrency and foreign currency markets involves high risk and is unsuitable for everyone. When trading on leverage, the potential for loss is significantly higher than when dealing with just your funds. Risky trading leverage allows you to control larger positions with less capital, increasing both the potential for profit and loss.

You will be exposed to a high risk of loss regarding leverage and margin-based trading.

Furthermore, some off-exchange financial instruments and derivatives may offer varying leverage levels and may not be subject to the same regulatory protections as exchange-traded instruments. As a result, they may be subject to higher levels of market volatility and carry a higher degree of risk.

It is important to note that no investment product, technique, or strategy can guarantee profits, and past performance does not necessarily indicate future results. Any investment involves the possibility of financial loss, and it is important to carefully consider your investment objectives, risk tolerance, and financial situation before making any investment decisions.

Trading financial instruments is a high-risk activity that requires careful consideration and risk management. It is important to be aware of the potential for loss and to only invest what you can afford to lose.

FX Open not quite right?

If after reading this FX Open review, FX Open does not fulfill your needs check out these FX Open Alternatives.

Click here to view the best FX Open Alternatives

We have spent years researching the best alternatives to FX Open. Click the links below to learn more.

After extensive research over several years, we have compiled a list of the most effective FX Open alternatives available today. If you are unsatisfied with FX Open or want to explore other options, we recommend checking out our carefully curated list of highly-rated FX Open alternatives. Follow the links below to learn more about these FX Open broker alternatives and choose the one that best suits your trading needs.

Related FX Open Vs Comparisons

Throughout our comprehensive FX Open review, we have covered a lot of ground and provided an in-depth analysis of the platform's features and functionality.

If you're interested in comparing FX Open against other popular brokers in the industry, check out our FX Open Vs pages. Our team has compiled a series of detailed FX Open comparison articles, pitting the FX Open platform against some of the best-rated FX Open competitors in the market. Dive into our informative FX Open Vs pages below to find out how FX Open stacks up against other leading brokers.

FX Open review
FX OPEN Frequently Asked Questions

Read our detailed FX Open FAQ Section updated for 2023.

Can I try FX Open?

FX Open offer a demo account so you can try the FX Open platform with virtual trading before you put down a payment. Virtual trading with FX Open is zero risk. Learn more here

What funding methods do FX Open accept?

Please note that the list of payment methods below depends on the FX Open Entity and the client's Country of Residence.

FX Open offer the following funding payment methods Credit Cards, Bank Transfer, Neteller, Bitcoin, PerfectMoney, WebMoney, UnionPay, FasaPay, Payza, QIWI, SOFORT, Giropay, Debit cards, among other payment methods.
Learn more here

Your capital is at risk

Is FX Open safe?

FX Open have over 10,000 users. FX Open are considered reliable as they are regulated by and checked for conduct by the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC). Any payments funded to FX Open accounts by traders are held in a segregated bank account. For added security,FX Open use tier-1 banks for this. Tier 1 is the official measure of a bank's financial health and strength.Trading with FX Open is risky, and because the market is so volatile, losses could happen at any time.

Your capital is at risk

Is FX Open trading good?

FX Open is considered good and reputable to trade with FX Open. FX Open is used by over 10,000 traders and FX Open users. FX Open offers Forex trading, and Social trading. Minimum deposit with FX Open is 1.

Is FX Open trading Legit?

FX Open was founded in New Zealand in 2005. FX Open has been facilitating trade on the financial markets for over 18 years. FX Open offers clients Forex trading, and Social trading. All funds deposited to FX Open are held in segregated bank accounts for security. FX Open is regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) so can be considered legit.

Is FX Open a good broker?

FX Open allows Forex trading, and Social trading. FX Open is overseen by the top tier financial regulators Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) so can be considered a good broker.

Is FX Open trustworthy broker?

FX Open is a reliable platform that can be considered trustworthy due to its strict regulatory practices. When you fund money to FX Open, money is in a segregated bank account that is separate from FX Open company's funds. As a regulated broker, FX Open cannot directly access your funds, which minimizes the risk of misappropriation or fraudulent activity by FX Open. Instead, your FX Open funds are held securely in a separate account designated for your investments, providing protection and peace of mind when trading with FX Open. Also FX Open is regulated in its local jurisdictions including major financial regulators like Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC).

What is the minimum deposit for FX Open?

The minimum deposit to trade with FX Open is 1.

How long do FX Open withdrawals take?

Withdrawing money from FX Open processing time varies depending on the method but averages 1-5 days.

Is FX Open regulated?

FX Open is regulated by the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC). Regulatory bodies conduct regular reviews and audits as part of FX Open maintaining their regulatory status. You can learn more about these reviews on the regulator websites.

Is FX Open a market maker?

FX Open is a market maker. Stocks, currency and other commodities and instruments will be brought or sold by FX Open even if no buyer or seller is lined up.

How can I start trading with FX Open?

When opening a trading account with FX Open, you will need to sign up here. After completing the necessary steps of receiving login details via email, submitting identification documents for account validation, and making a deposit, the next step is downloading the preferred trading platform. For detailed guidance on FX Open trading platforms, you can follow the link provided below: Learn more about signing up with the FX Open trading platform here. This will provide useful information and insights into the various trading platforms offered by FX Open, enabling you to make an informed decision about which platform to choose for your trading needs.

Is my money safe with FX Open?

Yes your money is safe with FX Open.

Overall, strict financial regulation is essential for ensuring that trading platforms like FX Open operate fairly, transparently, and responsibly, which ultimately benefits all FX Open stakeholders involved.

Trading platforms like FX Open must have strict financial regulation for several reasons:

  • Protecting FX Open Investors: Strict financial regulation ensures that investors who use the FX Open trading platform are protected against fraudulent or unethical behavior by the FX Open platform or its employees. Financial regulation can help to prevent investors from losing their money due to dishonest practices by the FX Open platform.
  • Maintaining FX Open Financial Stability: Strict regulation helps maintain the financial system's stability by preventing excessive risk-taking when using the FX Open trading platform. Regulatory procedures reduce the likelihood of the FX Open platform experiencing financial difficulties or failing, which could have ripple effects throughout the financial system.
  • Enhancing FX Open Transparency: Regulations require trading platforms like FX Open to maintain detailed records and disclose FX Open client information. Financial regulatory requirements enhances transparency and helps to build trust between the FX Open platform and its investors.

FX Open is regulated by the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC). When selecting a broker such as FX Open, one of the most critical factors to consider is the broker's regulatory body and regulatory status. Unregulated brokers pose a direct risk to the security of their client's funds, as they operate without any oversight or regulation. In contrast, regulated brokers are subject to strict rules and regulations that prevent them from manipulating market prices or engaging in fraudulent activities. As a reputable broker, FX Open ensures that withdrawal requests are processed promptly, demonstrating its commitment to transparency and accountability. However, brokers that violate regulatory rules can face the consequences such as losing their regulatory status in specific regions, highlighting the importance of working with a trusted, regulated broker for your trading needs like FX Open.

Is FX Open a con?

FX Open is regulated and well established, having been in business for over 18 years. FX Open is not a con.

Can you make money with FX Open?

Although traders have had great success with FX Open, trading on the financial markets with FX Open is not a get-rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading, your chance of success will greatly increase. Never trade with money you cannot afford to lose. Your capital is at risk.

Does FX Open have fees?

FX Open withdrawal fees vary on payment method.FX Open does charge a fee for inactive accounts. FX Open do charge deposit fees.

When was FX Open founded?

FX Open was founded in 2005.

How many people use FX Open?

FX Open is used by over 10,000 registered FX Open users.

What is FX Open Headquarters country?

FX Open has its head quarters office in New Zealand .

Does FX Open offer negative balance protection?

FX Open offers negative balance protection. With Negative balance protection, traders cannot lose more money than they have deposited.

Does FX Open offer guaranteed stop loss?

FX Open does not offer guaranteed stop loss. With guaranteed stop loss protection, risk is managed. Traders are guaranteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does FX Open allow scalping?

FX Open offers scalping.

Does FX Open allow hedging?

FX Open offers hedging.

Does FX Open offer CFD trading?

FX Open offers CFD trading.

Does FX Open offer STP?

FX Open offers STP trading.

How many people use FX Open?

FX Open is used by over 10000 FX Open users and traders.

Is FX Open an ECN broker?

FX Open offers ECN trading.

Does FX Open offer a demo account?

FX Open offers a demo account.

Does FX Open offer an Islamic account?

FX Open offers an Islamic account.

What are the funding methods for FX Open?

Please note that funding methods and options available with FX Open can be found in the FX Open Members area and depend on the FX Open clientโ€™s country of residence. Please check your specific available payment methods on the FX Open website. FX Open accept the following funding methods : Credit Cards, Bank Transfer, Neteller, Bitcoin, PerfectMoney, WebMoney, UnionPay, FasaPay, Payza, QIWI, SOFORT, Giropay, Debit cards, .

FX Open review written by Andrew Blumer and Mark Hansen

We hope you found our review of the FX Open brokerage firm useful.

This article was written by our financial editors, Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years of experience in financial analysis, forecasting, and financial modelling, identifying new market opportunities in Stocks, CFDs, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

FX Open review written by Mark Hansen of Comparebrokers.co