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FX Open Broker Review

Editor Editor:  Chris Cammack Updated: May 10, 2023
Author Author:  Jeffrey Cammack

Last Updated On May 10, 2023

Jeffrey Cammack
Broker Score
3.07 3.07 / 5
🏦  Min. DepositUSD 5
🛡️  Regulated By
💵  Trading Cost 
USD 16
⚖️  Max. Leverage500:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 
AlertFX Scouts does NOT recommend FXOpen due to insufficient regulation.We suggest you continue your search using our approved brokers list.

Last Updated On May 10, 2023

Jeffrey Cammack

75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review. Please read our advertising disclosure. By using this website you agree to our Terms of Service.

Our verdict on FX Open

FX Scouts does NOT recommend FX Open due to insufficient regulation. We suggest that you find an alternative regulated broker governed by processes designed to protect your funds.

FX Open offers clients the full MetaTrader suite, ample ways to deposit money on their platform, and a variety of trading account using either STP or ECN execution. Our concern for new traders signing up with this FX Open is the lack of regulation and governmental oversight, and lack of transparency in how they publish their spreads and trading commission.

🏦  Min. DepositUSD 5
🛡️  Regulated By
💵  Trading Cost 
USD 16
⚖️  Max. Leverage500:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Overall Summary

Trust Rating
100001/ 5
Trading Conditions
111003/ 5
Trading Platforms
11110.54.5/ 5
Deposit & Withdrawal
111104/ 5
Education & Research
110002/ 5
Assets Available
111104/ 5
Customer Service
111104/ 5
Beginner Friendly
Standard
Welcome Bonus

Account Information

Base Currencies
USD, AUD, CHF, EUR, GBP, JPY, RUB, SGD
Number of FX Pairs
50
Crypto Pairs
40
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Account Name
Trading Desk
Commission
10 USD / lot - ECN Accounts
EUR/USD
0.30 pips
GBP/USD
0.90 pips
USD/JPY
0.90 pips
Negative Balance Protection

Company Details

Company Name
FXOpen Markets Limited
Founded
2003
Website Language
English
Support Language
English
Office Locations
United Kingdom, Australia, Cyprus, St Kitts

Pros

  • #N/A

Cons

  • #N/A
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Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
Crypto
USD 10
10:1
0
1% of Transaction Volume
Account Details
ECN
USD 100
500:1
0.0
10 USD / lot
Account Details
Micro
USD 1
500:1
0
Spread Only
Account Details
STP
USD 10
500:1
0
Spread Only
Account Details

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AlertFX Scouts does NOT recommend FXOpen due to insufficient regulation.We suggest you continue your search using our approved brokers list.
Find An Approved Broker
Broker Score
3.07 3.07  / 5
Site Icon Data provided by FX Scouts

FX Open Financial Regulation

Regulator License
Regulator License

FX Open Trading Cost Comparison

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