✔️ Information reviewed and updated in April 2024 by Eduardo López
Opinions and information about the forex broker FXOpen
¿It is the really reliable FXOpen broker? Is it safe for you to invest your money with this company? In this section we will talk about this broker, its characteristics and information.
We invite anyone who has experience with this company, to leave a comment with their experience and to give the broker a score.
FXOpen is a forex broker established in 2003, with headquarters in London, they also have offices in places like Sydney, Moscow and Auckland. Although a very particular fact about this broker, is that it began as an educational center in Cairo, Egypt. This educational center gave classes on technical analysis in stocks and forex, it is particular since after a while (in 2005 to be precise) it ended up becoming a broker. It should also be noted that since 2015 it is possible to trade CFDs (contracts for difference) in ECN-type accounts.
When looking at the types of account that this broker offers, we must highlight that FXOpen has a website .es (from Spain) and another .mx (from Mexico), as well as one for Brazil, but in reliable forex brokers, we focus on the market in Spanish / Castilian, so we will talk about the accounts offered on only these two websites. And they differ.
We will start with the web version .es, where we will begin by describing the ECN account. This type of account, arguably, suits almost all types of traders, as it has fast execution and quite deep liquidity. But let's go to the data, the initial deposit required is 300 (dollars, euros, or sterling). Variable spreads, from zero pips. Commission from 1,5 units of the base currency per lot, it also has leverage of up to 1: 500, stop out of 50%. The next type of account is the STP account. One of the biggest differences between this type of account and the previous one is that it is possible to start trading with only $ 10 deposited. A relevant fact about FXOpen is that it allows scalping. Other differences are that this type of account has non-variable spreads, stop out of 50%, and in this it is not possible to trade with CFDs. Then we have the CFD accounts, which is really the ECN account. And the demo account.
The difference between the web .es and the .mx, is that on the Mexican web, there are two more types of account. The first account is the Micro, with an initial deposit of only $ 1, small transaction sizes, low margins and 28 tradable currency pairs, it is recommended for traders who want to start with small investments, or for beginner traders. The second type of account that does not appear in the Spanish version of the website is the Crypto account. And if, as you have probably already imagined, with this type of account it is possible to trade cryptocurrencies, in this case FXOpen allows you to trade Bitcoin, Namecoin, Litecoin and Peercoin, directly against the US dollar, the euro or the Russian ruble. Some other features of this type of account are, minimum deposit of $ 10, maximum balance without limitations, leverage of 1: 3, 24 pairs of instruments. All accounts are traded from the MT4 platform.
Now if we go to the resources that the broker offers us on its website. Some of the tools that the broker offers us are, the margin and pip value calculator, commissions calculator, and currency conversion calculator. We can also find the forex economic calendar, market and stock news, and also market analysis. Yes, a negative aspect of the tools or resources that are provided to us is that both the market news and the market analysis are in English.
Features of the FXOpen broker
Foundation | 2003 |
Supported platforms | MT4 |
Available in Spanish | Si |
Customer service in Spanish | Si |
Hear demo | Yes and for an unlimited time (although if it is inactive for 30 days it will be deleted) |
Bonuses or promotions | Yes* |
Commission | From 1,5 units of the base currency, from 0,25% of the transaction volume, or none, depending on the type of account |
Minimum deposit | $ 0, $ 10, and up to $ 100 depending on the type of account |
Leverage | Up to 1: 500 maximum, also depending on account type |
Deposit options | Spain version: bank transfer, credit card, debit card, WebMoney, Neteller, Skrill, Payza. Mexico version: all of the above plus local bank transfer, QIWI Wallet, Perfect Money, SorexPay, Yandex Money, FasaPay, Intellect Money, OKPAY, ePayments, RBK Money, Recharge cards, (prepaid cards) paysafecard, prepaid codes FXOpen and cryptocurrencies |
Withdrawal options | Spain version: bank transfer, credit card, debit cards, Payza, Neteller, Skrill, WebMoney. Mexico version: all of the above, plus local bank transfer, Yandex Money, withdrawal via coupons from FXOpen, OKPAY, epayments, paysafecard, WebMoney, QIWI Wallet, PerfectMoneym, FasaPay and cryptocurrencies. |
Account types | Depending on whether it is the Spanish or Mexican version, ECN, STP, Crypto, Micro, CFD and Demo |
CFDs | Si |
metals | Si |
Oil | Si |
Gold | Si |
Index | Si |
Actions (stocks) | No |
Raw materials (commodities) | Si |
Withdrawal fees | None, or 1%, depending on the withdrawal method |
Would you like to know the best 2021 broker ? Find out HERE
Additional information about the company
Phone number: In the Spanish version, +44 (0) 203 519 1224 and +44 (0) 203 519 1224 appear as numbers for England, and on the Mexican website, the following appear + 64-9-801-0123 (New Zealand) , + 34-931-768-529 (Spain), + 49-693-329-6294 (Germany) and + 33-979-998-040 (France)
Email: [email protected] y [email protected]
Website: www.fxopen.es and www.fxopen.com.mx
Clarification: Note that FXOpen works in different countries, so the information provided may not apply to your country.
* Bonuses or promotions: 1) Free VPS with your registration 2) ForexCup trading tournament (only in the Mexican version of the website) 3) Affiliate program, where the affiliate receives up to 25% of the recommendations of his recommendation
FXOpen valuation
With the information we have so far, the comments and reviews, evaluations and criticisms of users and traders, our opinion is that it is a reliable broker. Although we have read some negative comments, our opinion with this broker is positive.
Do you know this broker? Do you think our opinion is not correct? Have you operated with him? Leave a comment with your experience.
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↓ ↓ ↓ Traders and users score
Good afternoon, excuse me, I need to know if I can operate from El Salvador, with a micro account, and if I would not have difficulty when I want to withdraw my benefits in deposit to my bank account
Hi Tony, thanks for your comment, you should contact FXOpen support and ask them directly.
A greeting.
Thank you for sharing this information and your opinions,
Regards,
I am starting with real money I am just making a withdrawal of the profits I am waiting for it to enter my card
Sure it's not much just in case they turn out to be fraudulent but so far so good
regards
Hi Edd, thank you very much for sharing your experience with FXOpen with us, we hope you can keep us posted on the recall.
A greeting.
Hello, I have been looking for this for a while and I have finally been able to clear the doubts, thanks
Hi Manuel, I hope the section on FX Open has been useful to you, greetings.
The search for money through short-term operations in the financial markets is contrary to religious morality. You should not approach this practice.
http://tradingonline-a-moral-problem.blogspot.it/
Hi RR, thank you very much for your opinion.