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FX Open is an international foreign exchange trading brokerage company or it can also be called a forex broker. In its history, FXOpen has moved its head office several times. And now FXOpen is under New Zealand regulation (FSPR License Number: FSP192685).
Since its establishment, FXOpen has started its growth momentum starting from 2005-to 2006. This broker received a response because this broker offers a trading platform system that is different from other brokers.
At that time FXOpen came up with a MetaTrader platform, as well as various bonus programs, and free education. This is very effective in attracting the attention of traders at that time. And slowly began to compete with other markets at that time.
In terms of scale, FXOpen is more or less in the same class as InstaForex, MasterForex, and Exness brokers. So the advantages offered are generally the same, namely the minimum deposit amount, ease of deposit options, as well as various bonuses and competitions. Find out the full review of FXOpen here!
FXOpen Advantage
For more details, here are the advantages offered by FXOpen:
- Low spreads, starting from 2 Pips
- Minimum deposit starts from 1$
- Various payment options, wire, credit card, ecurrency, voucher, etc
- Various types of accounts
- Islamic account, no swap(interest)
- Leverage options 1:100 to 1:500
- Forex bonuses and contests/competitions
- PAMM Account
- Alternative trading platforms such as PAMM, Zulutrade, and FXStats.
- Using the Metatrader platform which is already very popular among forex traders.
FXOpen Account Type
FXOpen provides a variety of account types, for the needs of different traders:
1. Micro Account
- Minimum deposit of 1$
- Maximum balance 3000$
- Spreads from 2 Pips
- Lot 0.1 , 1 Pips = 1 Cent
- Maximum open lot = 1000 Micro Lot
- Leverage up to 1:500
- No Commission, No Swap(Islamic account)
- EA, Scalping, and News Trading are allowed with certain conditions
This account type is suitable for beginners
2. Standard Account
- Minimum deposit 25$
- Spreads from 2 Pips
- Minimum lot 0.1 , 1 Pips = 1 dollar
- Maximum open lot = 1000 Micro Lot
- Leverage up to 1:500
- No Commission, No Swap(Islamic account)
- EA, Scalping, and News Trading are allowed with certain conditions
This type of account is suitable for those who are experienced
3. ECN/STP Account
- Minimum deposit 1000$
- Floating spreads, starting from 0 Pips
- Lot 0.1 , 1 Pips = 0.1 dollar
- Maximum free open lot depending on the liquidity that is still owned.
- Can open many orders without limitation.
- Leverage up to 1:500
- EA, Scalping, News Trading, hedging, unconditional
This account type is suitable for both experienced and proficient
4. Standard PAMM Account
- Minimum deposit of 200$
- Spreads from 2 Pips
- Lot 0.1 , 1 Pips = 1 Dollar
- Leverage up to 1:100
- The maximum number of open positions is 100 orders
- EA, Scalping, and News Trading are allowed under certain conditions.
This account is intended for those of you who want to follow an investment manager (not trading alone)
5. PAMM ECN/STP Account
- Minimum deposit 1000$
- Floating spreads from 0 Pips
- Lot 0.1 , 1 Pips = 0.1 Dollar
- Leverage up to 1:100
- The maximum number of open positions is not limited
- EA, Scalping, News Trading allowed without limitation
This account is intended for those of you who want to follow an investment manager (not trading alone)
The registration system at FXOpen is also easy. But as in general, later you will be asked to verify your data first if you are going to make a deposit or withdrawal payment.
FXOpen also offers various welcome bonuses for each new account opening. The amount of the bonus varies according to the type of account. In addition, there is a bonus based on the total number of lots traded.
In addition to Wire Transfer, FXOpen accepts payments with Skrill MoneyBookers, WebMoney, UCash, and cGold. Where in general processing will take 1-2 working days.
Wrapping Up
- Seeing the features and trading alternatives offered by FXOpen is quite interesting to try and study.
- From the number of active traders who join today, which is more than 300,000, shows that FXOpen is quite attractive to world traders.
- FXOpen offers bonuses in relatively small amounts, but with light conditions.
- Various countries are one of the important markets for FXOpen, it can be seen from their website which supports various local languages.
- Various types of accounts, providing convenience for traders with different capital conditions and trading styles.
- FXOpen is also quite strict in terms of security, where FXOpen will first clarify any changes to client data by phone to make sure.
- Based on experience and information, so far there have been no major complaints about payments at FXOpen.
- Looking at the regulations, several clients, and branch offices, this broker can be classified as middle class. The recommended capital is between $5,000 to $10,000 or less.
