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
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)
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
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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