FXOpen Forex Broker

FXOpenReview SummaryFounded2010Registered Country/RegionUKRegulationFCA (regulated), FSPR (revoked), ASIC (suspicious clone)Market InstrumentsCurrencies, Cryptocurrencies, Metals, Energies, Indexes, Shares, ETFsDemo Account✅LeverageUp to 1:30SpreadFrom 0 pipsTrading PlatformMT5, MT4, TickTrader, TradingViewMinimum Deposit$300Customer SupportLive chatTel: +44 (0) 203 519 1224 (8 am - 6 pm Lodon time)Email: support@fxopen.co.ukAddress: 80 Coleman Street, London, EC2R 5BJ, United KingdomSocial media: Instagram, YouTube, Twitter, Facebook, LinkedIn, TelegramRegioal RestrictionsThe United States, Belgium FXOpen was registered in 2010 in the UK, specializing in currencies, cryptocurrencies, metals, energies, indexes, shares, and ETFs trading. It provides four types of ECN accounts, with a minimum deposit of $300 and a maximum leverage of 1:30. More importantly, this company is regulated, and it provides various channels for customer support.Pros and ConsPros Cons RegulatedRegional restrictionsDemo accounts availableCommission fees chargedMT4 and MT5 supportedSuspicious clone ASIC licenseMultiple channels for customer supportDiverse tradable assetsLong operation timeIs FXOpen Legit? FXOpen is regulated by Financial Conduct Authority (FCA). However, its license was revoked by Financial Service Providers Register (FSPR), and it holds a suspicious clone Australia Securities and Investment Commission (ASIC) license. Traders should be aware of the potential risks!Regulated AuthorityCurrent StatusLicensed EntityRegulated CountryLicense TypeLicense No.Financial Conduct Authority (FCA)RegulatedFXOpen LtdUKStraight Through Processing (STP)579202Financial Service Providers Register (FSPR)RevokedFXOPEN NZ LIMITEDNew ZealandFinancial Service Corporate192685Australia Securities and Investment Commission (ASIC)Suspicious CloneFXOpen AU Pty LtdAustraliaMarket Maker (MM)000412871What Can I Trade on FXOpen? FXOpen provides several types of products, including currencies, cryptocurrencies, metals, energies, indexes, shares, and ETFs.Tradable Instruments Supported Currencies✔Metals✔Energies✔Indexes✔Shares✔Cryptocurrencies✔ETFs✔Bonds❌Options❌Futures❌Account Type FXOpen provides four types of ECN accounts: Basic ECN, Classic ECN, Advanced ECN, and Elite ECN. Besides, demo accounts and Islamic accounts are also available.Account TypeMinimum DepositMaximum LeverageSpreadAccount CurrenciesBasic ECN$3001:30Floating from 0 pipsGBP, USD, EURClassic ECN$1,000Advanced ECN$25,000Elite ECN$250,000Leverage The leverage can be up to 1:30. Traders need to consider carefully before investing, and it should be noted that high leverage is likely to bring high potential risks.FXOpen Fees FXOpen charges certain amount of commission fees, and fees vary based on instruments and accounts. Below are the details, with the Basic ECN Account in the first chart, followed by Classic ECN, Advanced ECN, and Elite ECN.Commission FeeBasic ECN AccountClassic ECN AccountAdvanced ECN AccountElite ECN AccountForex$3.50$2.50$1.80$1.50CryptoFrom 0.08%From 0.05%From 0.03%Index❌❌❌❌Commodity0.005%0.0025%0.0018%Shares0.1%Trading Platform FXOpen uses MT4, MT5, TickTrader, and TradingView as its trading platforms.Trading PlatformSupported Available Devices Suitable forMT4✔PC, web, mobile, macBeginnersMT5✔PC, web, mobile, macExperienced tradersTickTrader✔PC, web, mobile/TradingView✔PC, web, mobile, macBeginnersDeposit and Withdrawal FXOpen only supports bank tranfer. It does not charge fees for deposits, but it charges withdrawal fees.Deposit Options Accepted CurrenciesMinimum Deposit Deposit Fees Bank TransferAUD, CHF, GBP, USD, EUR300 AUD/CHF/GBP/USD/EUR❌Withdrawal Options Accepted CurrenciesMinimum WithdrawalWithdrawal Fees Bank TransferEUR50 EUR15 EURCHF50 CHF15 CHFGBP50 GBP❌USD50 USD30 USDAUD50 AUD30 AUD