FXOPEN Forex Broker

FXOPENReview SummaryFounded5-10 yearsRegistered Country/RegionAustraliaRegulationSuspicious CloneMarket InstrumentsIndices, commodities, forex, shares, cryptocurrencies, and ETFsDemo Account✅LeverageUp to 1:30SpreadStart from 0 pipsTrading PlatformTickTrader, TradingView, MT5 (MetaTrader 5), and MT4 (MetaTrader 4)Min Deposit£300, $300, €300Withdrawal MethodsWire Transfer, Skrill, Neteller, and WebMoneyCustomer Support+(61) 8 6557 8587+(61) 8 6557 8587+(61) 2 6145 2042 (ext. 117)trading.desk@fxopen.com.aulp@fxopen.orgsupport@fxopen.com.auFXOPEN Information FXOPEN is an Australian-based broker with 5-10 years of experience. It offers 6 types of trading products, 4 trading platforms, and 4 withdrawal methods. However, its regulatory status is marked as a suspicious clone.Pros and ConsProsConsOffers 6 types of trading productsSuspicious CloneProvides 4 trading platformsMinimum deposit requirement: £300, $300, €300Offers 4 withdrawal methodsIs FXOPEN Legit? FXOPEN is regulated by the Australian Securities & Investments Commission (ASIC) with a License Type of Market Making (MM) and License Number 412871. However, its regulatory status is Suspicious Clone.Regulatory Status Suspicious cloneRegulated by Australian Securities & Investments Commission (ASIC)Licensed Institution FXOpen AU Pty LtdLicensed TypeMarket Making (MM)Licensed Number412871What Can I Trade on FXOPEN? FXOPEN offers six types of trading products, including indices, commodities, forex, shares, cryptocurrencies, and ETFs.Tradable Instruments Supported Indices✔Commodities✔ Forex✔Shares✔Cryptocurrencies✔ETFs✔Account Type FXOPEN offers two account types: ECN and STP. It also offers demo accounts.Account TypeECNSTPDemo AccountAvailableAvailableTrading Time22:00 Sun - 22:00 Fri (GMT)22:00 Sun - 22:00 Fri (GMT)Crypto Trading Time24/7 for Cryptocurrency CFDs24/7 for Cryptocurrency CFDsMinimum Deposit£300, $300, €300£300, $300, €300SpreadFloating, from 0 pipsFloatingCommission (per 1 lot)From $1.50N/AMinimum Transaction Size0.01 lot0.01 lotMinimum Increment0.01 lot0.01 lotLeverageUp to 1:30Up to 1:30Margin Call100%100%Stop Out50%50%Leverage Both ECN and STP account types offer a leverage of up to 1:30.Spreads & Commissions FXOPEN offers floating spreads for the STP account type. Spreads start from 0 pips for the ECN account.Trading Platform FXOPEN offers four trading platforms: TickTrader, TradingView, MT5 (MetaTrader 5), and MT4 (MetaTrader 4). They all support Windows, Web Browser, Android, macOS, iOS, and online access.Trading PlatformSupportedAvailable DevicesSuitable forTickTrader✔Windows, Web Browser, Android, MAC, iOS, OnlineBoth Beginner and Experienced TraderTradingView✔Windows, Web Browser, Android, MAC, iOS, OnlineBoth Beginner and Experienced TraderMT5✔Mobile and Desktop（Windows & macOS）Experienced TraderMT4✔Mobile and Desktop（Windows & macOS）BeginnerDeposit and Withdrawal FXOPEN offers the following withdrawal methods: Wire Transfer, Skrill, Neteller, and WebMoney.