FX Open Rated 3/5

FX Open Guide - Read our In Depth 2021 FX Open Review

This FX Open review was written by industry experts with over 20 years of financial experience in Forex, Social Trading.
The content in this FX Open review does not apply to US users.

Benefits of Trading with FX Open

FX Open Review 2021 Quick Summary
💰 Min Deposit 1
👱‍♂️ Used By 10,000 FX Open users and traders
📆 Founded 2005
🌍 HQ New Zealand
👮‍♂️ Regulation Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC)
🚫 Excluded Countries FX Open is not available in the following countries : US

Open FX Open's Website

Your capital is at risk


learn more Learn more about eToro.
67% of retail investor accounts lose money when trading CFDs with this provider.

What is FX Open?

FX Open are a global online financial trading platform and multi asset broker founded in 2005

Over 16 years later FX Open has grown to offering 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 it can be very time consuming to find a broker that meets your needs.

We will dive deep in this FX Open review and assess how well the FX Open platform functions in its role as an international multiple financial asset trading platform for traders in 2021.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. Choosing an online broker like FX Open can be difficult. For a beginner, the first few hurdles can come in the form of what appears to be a complex mobile or online trading platform, hard to understand investment terminology and confusing fee structures. In our review of FX Open we breakdown the pros and cons. What FX Open are able to offer, what countries FX Open are available in. Who FX Open are regulated by and more.

FX Open Review Screenshot

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

This is why we have taken the time to review only the best brokerage firms, their practices, their fee structure and all other important aspects. We want you to evaluate and analyse and trust your hard-earned cash with only the safest and best of brokers. We hope you find this FX Open review useful.

This review of the FX Open platform is very detailed. If you are interested in trading with FX Open in any capacity please take the time to read and research the whole FX Open review.

We have tried to explain the ins and outs of financial trading through the FX Open platform as plainly as possible so that you the trader are as informed as possible before you start to use the FX Open trading tools and depositing and withdrawing funds from FX Open.

Investing online can be just as risky as any other kind of offline investment. As with any investment, it is important to know and research the company you are dealing with. When trading financial assets with FX Open like Forex trading, and Social trading. you should have confidence in FX Open and know that the management of your financial investments on the FX Open platform are in good hands.

At the bottom of this FX Open review you can also learn about some pretty good alternatives to FX Open

With this FX Open review we hope to help you see if FX Open is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding FX Open that will help you get off to a good start in the world of online trading.

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. An asset in financial investment, is any security or asset, tangible or intangible, that has a financial value attached. 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.

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 choosing a broker like FX Open the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2005, and in operation for 16 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.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to FX Open, this will be honored. 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?

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 banks financial health and strength.

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

A Tier 1 bank is considered the safest and most secure regarding client capital. Tier 1 is actually a term describing the financial strength of a bank. A Tier 1 bank has strong core capital reserves and financial regulators utilize tier one banks because they are able to withstand unexpected financial losses.

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

Having any money you deposit with FX Open means that your funds are safe in a bank that has enough capital to accommodate your withdrawal wishes even if FX Open goes out of business for some reason.

Therefore, we can safely conclude that FX Open is secure and safe.

That said, please note that you can lose funds when trading in financial assets. Accounts can lose money due to either not putting enough effort into researching the markets, lack of experience or not using the tools provided by the brokerage platform.

While trading in financial investments, losing money rapidly due to trading Forex, Social Trading is not uncommon. Only take the risk of trading when you understand that your invested capital is at risk any time due to market volatility. FX Open also clearly state on their platform that Your capital is at risk.

Now that we have answered some important questions regrding FX Open. let us look at the FX Open features in more detail.

Try creating two accounts when you are working with FX Open. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

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 eToro XTB IC Markets
Year Established 2005 2007 2002 2007
Head Office New Zealand Cyprus, UK Poland Australia
Regulation Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA), XTB AFRICA (PTY) LTD licensed to operate in South Africa Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)
Used By 10,000+ FX Open users 20,000,000+ eToro users 250,000+ XTB users 180,000+ IC Markets users
Negative balance protection Yes Yes Yes Yes
Guaranteed Stop Loss No No No No
Learn More Visit FX Open Visit eToro Visit XTB Visit IC Markets
Risk Warning Your capital is at risk 67% of retail investor accounts lose money when trading CFDs with this provider. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Losses can exceed deposits

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

We have checked and FX Open is regulated and supervised by reputable organisations. You are able to check every FX Open supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with FX Open. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria for license approval, this is determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect FX Open traders and provide a safe trading environment. Financial regulation and license approval is essential.

FX Open is regulated, governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as 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 Europe, Asia, Oceania, and Africa. Major countries FX Open covers include the UK, Germany, Australia, South Africa, Thailand, and China. 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.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company. Brokers may charge clients various trading fees that you need to be aware of as they may affect your bottom line.

How FX Open Fees Compare Against Other Brokers

Broker FX Open eToro XTB IC Markets
Min Deposit 1 50 0 200
Withdrawal Fees Yes Yes varies No
Inactivity Fees Yes Yes Yes No
Deposit Fees Yes No No Varies
CFD Commission Fees 0.28 points Yes Yes Yes

FX Open Minimum Deposit

FX Open require a minimum desposit of 1 GBP/USD 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.

Dont be scared off by brokers like FX Open charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on there platforms that are not available for free on other platforms.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other trading fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

FX Open Withdrawal Fees

FX Open withdrawal fees vary depending on your selected withdrawal payment method.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees, processing times and a potential currency conversion fee. The Conversion fee is dependant on your base currency, your recieving currency, your payment provider.

FX Open for example allow 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.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill.

If a clients trading account dues not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

FX Open Desposit Fees

FX Open does charge deposit fees.

You must always review deposit fees as some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

FX Open Commission Fees

FX Open does charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

FX Open review
What can you trade with FX Open?

Be aware that Different entities under FX Open Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client.

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

If you are looking for Forex brokers to trade currency pairs on global Forex markets FX Open offer over 50 currency pairs.

Compare FX Open with eToro and XTB below.

Your capital is at risk

How FX Open Trading Options Compare Against Other Brokers

Broker FX Open eToro XTB IC Markets
Instruments Available 100 2000 4000 232
Platforms MT4, Mac, Mirror Trader, ZuluTrade, Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps MT4, Mirror Trader, Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac
FX / Currencies        
Forex pairs offered 50 50 57 65
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 Yes Yes
Commodity CFDs        
Commodities Offered 0 31 21 19
Metals Yes Yes Yes Yes
Energies Yes Yes Yes Yes
Agricultural No Yes Yes Yes
Indiced & Stock CFDs        
Stocks Offered 0 2042 1696 110
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 eToro
67% of retail investor accounts lose money when trading CFDs with this provider.
Visit XTB
74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Visit IC Markets
Losses can exceed deposits

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 making it easier to keep an eye on and execute your trades while you’re on the move.

See FX Open's platforms

Is the FX Open Trading Platform Secure?

FX Open safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. FX Open also urges its clients through its web platform to always look for the SSL security sign (a lock sign) o the browser while operating FX Open.

FX Open Trading Platform Options

Once you have logged into your FX Open account you will see the below trading platform options available to you.

  • MetaTrader 4 (MT4)

FX Open does not offer the MetaTrader 5 (MT5) trading platform. If you are looking for a online platform that does support MT5 click here

FX Open does not offer the cTrader trading platform. You can find a broker that supports cTrader here

Lets 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

MetaTrader 4 also known as MT4 is the number one trading platform on the planet and has been in active use on financial markets since 2005. The MetaTrader 4 software delivers a feature-rich, user-friendly interface and an extremely customisable trading environment, designed to ful fill all of your trading needs and boost your trading performance. Charting functionality and advanced order management tools make certain you could monitor your positions quickly and economically.

Understand that the MetaTrader 4 (MT4) trading platform was developed primarily to trade Forex but you can also trade other types of financial instruments through CFDs and Spread Betting. You will not be able to trade Stocks, Indices, Commodities, ETFs, Futures on any MetaTrader 4 (MT4) platform unless they are CFD contracts or Spread bets. You will not own any underlying assets with CFDs or Spread bets as you are speculating on price movements with FX Open. You can learn more about the MT4 Platform 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 PC's and Apple Macintosh computers. FX Open MetaTrader 4 is compatible with the latest macOS Mojave. 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 is the most popular trading platform in the world as most and more traders begin to trade online Metatrader 4 is available as a web based application available through your web browser. MetaTrader 4 web software provides the same easy to use performance as the desktop version using advanced charting, a highly customisable trading environment, easy to access online trading tools and many different indicators. You can enjoy our Raw Pricing trading environment without a Dealing Desk from anywhere in the world.

Trade FX Open MetaTrader 4 on IOS Devices

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

Download the Metaquotes MetaTrader 4 Program for free of charge from Apple's App Store. FX Open customers have instant access to this Financial markets, with the ability to completely manage a Portfolio on the go.

Trade FX Open MetaTrader 4 on Android Devices

Andorid mobile devices and tablets are used by millions of people globally. FX Open provides its clients access to the MetaTrader 4 platform on Android supported devices so that customers can monitor the financial marketplace and trade directly from their Android-based Smartphones and tablets. The Android FX Open MetaTrader 4 Android application enable traders to make the most of multiple advanced trading features which enables them to monitor and trade Forex quickly on the go, simply and securely.

Trade FX Open MetaTrader 4 Trading Central

Trading Centrals Alpha Generation Indicators is a Bundle of three Major indicators including:

  • Analyst Perspectives - A go-to resource for leadership and key levels.
  • Adaptive Candlesticks - Identifies chart patterns which illustrate important changes in demand and supply.
  • Adaptive Divergence Convergence (ADC) - Much like MACD however useful at shorter lengths and provides more timely signs.

FX Open MetaTrader 4 Advanced Trading Tools

The FX Open advanced trading tools for MetaTrader 4 are aimed at improving the total trading experience and providing traders with a competitive advantage. FX Open offers access to 20 exclusive tools which includes feature rich trade execution & management programs, sophisticated notification alarms, messaging facilities, innovative market data & more.

Trade FX Open MetaTrader 4 MultiTerminal

MetaTrader 4 MultiTerminal provides a intuitive easy to use dashboard where traders can administer and supervise several trading accounts. MultiTerminal will let you manage over 100 Accounts simultaneously allowing you to place market orders, pending orders, view live market prices and track all accounts and equity at real time. All Trading accounts must be in on the same MetaTrader server. MultiTerminal doesn't support Automated Trading scripts like Expert Advisors.

FX Open MetaTrader 4 AutoChartist

FX Open Autochartist provides the world's first Market Scanner available for MT4 using a non-trading Expert Advisor script. Scan markets for trading opportunities while viewing all symbols and time intervals from a single graph. Gone are the days of launching a lot of graphs on which you can't remember which currency you're taking a look at. Autochartist offers a simple user interface that can be customized to suite how you like to trade.

FX Open Trading benefits

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

FX Open Trading Accounts Offered

Below we give an overview on 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.

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

Can I try FX Open before I buy?

FX Open offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Your capital is at risk

FX Open withdrawal and funding methods

Please note that the list of FX Open payment methods below depend on the FX Open Entity and the Clients Country of Residence.

All available FX Open payment methods available to you can be found in your FX Open members area checked on the FX Open website.

FX Open offer the below funding payment methods. You can use any of the below deposit options if available in your region. learn more about FX Open

FX Open Payment Methods

  • 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 eToro XTB IC Markets
Bank transfer Yes Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes Yes Yes
Skrill No Yes Yes Yes
Payoneer No Yes 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?

When opening a trading account with FX Open, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on FX Open trading platforms here. You will need to provide some basic documentation to prove your identity as part of FX Open onboarding and normal KYC identity checks. These checks are standard practice and help FX Open provide a safe financial environment for their 10,000 users.

Your capital is at risk

Performing trades with FX Open

FX Open allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As FX Open offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you‘re paying to execute your trades.

FX Open are one of very few brokers that claim to have no requotes, so you don't have to worry about slippage (your trades being ordered at a different price to what you executed them at).

As with most brokers, margin requirements do vary depending on the instruments.

FX Open also offers a number of useful risk management features, such as stop losses (with trailing stops), limit orders, negative balance protection, and much more. You can see all of the account features offered by FX Open here.

CFD Trading on FX Open

let's take a look at some of the basics of using FX Open leverage.

FX Open offer CFD which are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

FX Open leverage magnifies both profits and losses when trading.

Let's say for example you buy ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the FX Open trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The FX Open leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

FX Open CFDs are typically used for short to medium term trades. For example FX Open intraday CFD trading. Although high risk because CFD trades are separate from the financial markets, a CFD trade can be more flexible than a traditional market trade where you own the underlying asset. CFD trades give access to CFD fractional shares, CFD international markets and CFD short selling. More advanced traders can also use CFDs to hedge.

Always be aware that CFDs are complex instruments and come 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

We should say something about negative balance protection with FX Open. When trading using leverage an adverse move could result in losing more than your trading account balance at FX Open. If your broker is regulated by the FCA Negative Balance Protection should be set in place by your broker as standard. Your FX Open account could potentially become negative. We recommend you making use of negative balance protection. Using negative balance protection ensures your losses will always be limited to the current balance of the money in your account.

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

A stop-loss order is an order placed with a broker like FX Open to buy or sell once the stock reaches a certain price. A stop-loss is designed to limit a traders loss on a security position.

Most traders need to use stop losses to protect themselves from huge risk unless the trade is hedged against another trade or the trader is not using leverage. Circumstances differ depending on the trade and the markets.

Education resources at FX Open

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

FX Open offer a good selection of educational resources. Take your time, learn how the financial markets move. Take the time to learn how your trading platform works. Make buy and sell trades, learn how to take advantage of global trading times and most importantly learn how to mitigate and manage investing risk.

Having an analytical approach may be a good way to approach trading with FX Open.

Take time to look around the FX Open platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at FX Open

As part of our FX Open review we review customer service options, response times and FX Open trading platform problem resolution effectiveness.FX Open support a wide range of languages including English, Arabic, Farsi, Turkish, Espanol, Portuguese, French, Deutch, Russian, Thai, Malay, Bahasa.

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

We tested the FX Open live chat and it works well. We sent messages to FX Open livechat through their app and website and recieved a response within 30 seconds.

We tested communicating with FX Open support in multiple languages in multiple countries. FX Open where able to quickly resolve our customer issues.

Email Support at FX Open

We sent several emails to FX Open and answer times overall were excellent. The fastest response from FX Open was less than 15 minutes and the slowest response was 7 hours. Support response times may vary for you with FX Open, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall very good email support from FX Open.

Phone Support at FX Open

FX Open does not offer Phone Support.

See how FX Open Support Compares Against Other Brokers

Broker FX Open eToro XTB IC Markets
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, German, Spanish, French, Italian English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more
Learn More Visit FX Open Visit eToro Visit XTB Visit IC Markets
Risk Warning Your capital is at risk 67% of retail investor accounts lose money when trading CFDs with this provider. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Losses can exceed deposits

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), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware that the expiration date of Proof of address document for different entities under FX Open Brand may be different.

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore FX Open's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with FX Open you can visit the FX Open trading platform here.

CFDs are leveraged products and can result in the loss of your 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 as investment advice. All information collected from https://www.fxopen.com on October 17, 2021.

Is FX Open A Good Broker?

We spent over 3 months examining FX Open in depth. Although we found some very useful aspects of the FX Open platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative FX Open broker.

  • FX Open have a good track record of offering Forex, Social Trading.
  • FX Open has a history of over 16 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). This means FX Open fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • FX Open have regulation from Tier 1 reputable regulators.
  • FX Open has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • FX Open have an international presence in multiple countries. This includes local FX Open seminars and training.
  • FX Open are able to 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 including crpytocurrency and foreign currency markets come with a very high level of risk. In regards to leverage and margin based trading you will be exposed to a high risk of loss. Some financial instruments and derivatives that are off exchange may offer varying leverage and may have limited regulatory protection and high market volatility. It should never be presumed that any investment products, techniques, indicators or any other presented resources will result in profits. You should be aware that investing may result in financial loss.

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.

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If you feel some of the above FX Open are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of FX Open alternatives below.

Related FX Open Vs Comparisons

We have covered allot in this FX Open review, If you want to see how FX Open compares side by side with other brokers check out our FX Open Vs pages.

If you would like to see how FX Open stands up against other brokers you can read some of our FX Open comparisons below. We compare side by side some of our top rated FX Open versus comparisons. Read our indepth FX Open VS pages below.

FX Open review
FX OPEN Frequently Asked Questions

Read our detailed FX Open FAQ Section updated for 2021.

Can I try FX Open before I buy?

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 depend on the FX Open Entity and the Clients 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 are considered safe 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 banks financial health and strength.

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 active 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 16 years. FX Open offers clients Forex trading, and Social trading. All funds deposited to FX Open are held in segregated tier 1 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 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. FX Open allows Forex trading, and Social trading.

Is FX Open trustworthy broker?

FX Open can be considered trustworthy. All money funded to FX Open is placed into a segregated tier 1 bank account. this means your money in not held by FX Open directly by a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money. Also FX Open is regulated by 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 but averages 2-5 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 purchased by FX Open even if no buyer 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. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on FX Open trading platforms here.

Is my money safe with FX Open?

FX Open is regulated by the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC). One of the most important criteria for traders when choosing a broker like FX Open is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to FX Open, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is FX Open a con?

FX Open is regulated and well established having been in business for over 16 years. FX Open is definitely 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 varies on payment method.FX Open does charge a fee for inactive accounts. FX Open does 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 means 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 guarenteed 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 a Islamic accounts.

What are the funding methods for FX Open?

Please note that funding methods and funding options available with FX Open can be found in the FX Open Members area and depend on the FX Open client’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 editor 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 experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, 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