FX Open Review for 2019

FX Open Rated 4/5

FX Open Introduction

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of FX Open we break down 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.

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.

Open FX Open's Website

As with any investment your capital is at risk, losses can exceed deposits.

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

With this 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 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 14 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 and 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.

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.

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

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

What we like

  • Used by over 10,000 traders
  • Established in 2005
  • Regulated by Financial Conduct Authority and ASiC
  • Min. deposit from $1

What we don't like

FX Open General Fees

  • FX Open withdrawal fees varies on payment method
  • FX Open does charge inactivity fees

FX Open Commissions

  • FX Open does charge commission on CFD shares

What can you trade with FX Open?

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

If you are looking at trading currency pairs FX Open offer over 50 currency pairs.

Compare FX Open with Interactive Brokers and XTB below.

FX / Currencies FX Open IB XTB
# of forex pairs offered 50 10 50
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes
Exotic forex pairs Yes Yes
Cryptocurrencies Yes No Yes
Commodity CFDs FX Open Interactive Brokers XTB
# of commodities offered 0 0
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural No Yes Yes
Indiced & Stock CFDs FX Open Interactive Brokers XTB
# of Stocks offered 0 1500
UK Shares No Yes Yes
US Shares No Yes Yes
German Shares No Yes Yes
Japanese Shares No Yes Yes
FX Open's
Instruments
IB's
Instruments
XTB's
Instruments

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.

An 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

FX Open Trading benefits :

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

FX Open Trading Accounts offered:

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN 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

What funding methods do FX Open accept?

FX Open offer the below funding payment methods. learn more about FX Open

  • Credit cards
  • Bank Transfer
  • Neteller

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.

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.

As a nice bonus, 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 trader, accounts and instruments, but as a guide, FX Open offer margin up to 0.001% on currencies.

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.

Support at FX Open

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 over three languages, live chat and email support.

What you will need to open an account with FX Open

As FX Open is regulated by Financial Conduct Authority and 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:

  • 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 10 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 their website 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 12th August 2018.

FX OPEN Frequently Asked Questions

Can I try FX Open before I buy?

FX Open offer a demo account so you can try before you put down and payment. Learn more here

What funding methods do FX Open accept?

FX Open offer the below funding payment methods accept Credit cards, Bank Transfers, Neteller, among other payment methods. Learn more here

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 Financial Conduct Authority and 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.