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FXOpen
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FXOpen

Cyprus
2013-04-17
1
6.55
Rating Index
Software
9.87
Licensed
6.67
Risk Control
0
Experience
8.27
Institution
7.34
Industry Classification
D
Unqualified
Trading Platforms
MT4 / MT5 / TickTrader

Basic Information

  • Registered Region
    Cyprus
  • Operation Status
    Normal
  • Operating Period
    2013-04-17
  • Deposit Methods
    Visa/MasterCard, Bank Transfer
  • Website
  • Market Type
    Foreign exchange
  • Support Languges
    English
    Chinese
    Russian
    Spanish
  • Main Business
    FX, commodities, digital assets, stocks, indices, CFDs
  • Business Type
    Multi-asset broker
  • Social Media
  • Contact Details
  • Type of Accounts
    ECN (minimum deposit $300, demo available)
  • Trading Platforms
    MT4 / MT5 / TickTrader
  • Withdraw Methods
    Bank Transfer, Credit Card, Skrill, Neteller
  • Auto Trading
    EA supported

Pros and Cons

Pros: Regulated by CySEC; Negative balance protection; Wide range of trading instruments; Available demo accounts. Cons: US clients are not accepted; High minimum deposit (300 USD); Withdrawal fees apply for bank transfers.

Company Background

FXOpen, founded in 2003, operates under FXOpen EU Ltd. headquartered in Limassol, Cyprus. Regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 194/13. The broker offers trading in multiple asset classes including forex, commodities, and cryptocurrencies.

Fund Security

FXOpen provides segregated funds for clients' deposits, ensuring that customer funds are not mixed with the company’s operational funds. As a regulated entity, they also conform to local and international guidelines ensuring client protection and backed by negative balance protection policies.

Account Opening

Traders can open an ECN account at FXOpen with a minimum deposit of 300 USD or EUR. The account opening process includes identity verification through standard KYC procedures. A demo account option is also available for new traders to practice without financial risk.

Trading Fees

FXOpen applies a commission structure based on account balances; commissions vary from $3.5 per lot for balances below $1,000 to $1.5 for balances above $250,000. Spread for major pairs like EUR/USD typically starts low at around 0.2 pips.

Trading Instruments

FXOpen provides access to over 700 trading instruments across multiple asset classes including forex pairs, commodities like gold and oil, cryptocurrencies including Bitcoin and Ethereum, indices, and ETFs.

Trading Technology

FXOpen leverages advanced trading technology, offering a range of platforms including MT4, MT5, and its proprietary TickTrader, providing options suitable for both beginners and experienced traders.

Research and Education

The broker offers a variety of educational resources, including webinars, tutorials, and market analysis to aid traders. A solid economic calendar and market news updates are also accessible to support trading decisions.

Customer Support

Customer support is available from 9 AM to 8 PM (EET) via live chat, phone (+357 25024000), and email (support@fxopen.eu), though it lacks 24/7 availability. Response times are generally prompt based on user feedback.
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Rating Instructions
Rating Index
FXOpen
FXOpen
Regulated
Legal Environment
9.87
License Value
6.67
Risk Management
0
Investor Protection
8.27
Regulatory Policy
7.34
  • Software

    Evaluates the regulator's legal foundation, organizational structure, leadership experience, and enforcement capacity. Focuses on whether it enforces strict regulations, maintains transparency and fairness, and engages in international cooperation and technological supervision.

  • Institution

    Analyzes the regulator's policy framework, decision-making process, and enforcement transparency, including rule-making, internal control, and policy implementation effectiveness.

  • Licensed

    Assesses the market value of the licenses issued by the regulator, including entry thresholds, compliance costs, approval duration, and overall global recognition and influence.

  • Risk Control

    Evaluates the regulator's financial stability and risk management capacity, including budgeting, reserves, revenues, expenditures, and ability to respond to market or financial shocks.

  • Investor Protection

    Examines the regulator's complaint-handling and investor protection systems, assessing fairness, responsiveness, and enforcement effectiveness in safeguarding investor rights.

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