FXOpen Forex Broker

Quick FXOpen Review SummaryFounded in 2007Registered inCyprusRegulated byCySECTrading Instruments700+, indices, commodities, forex, shares, cryptos, ETFsDemo Account✅Account TypeECNMin Deposit$/€300LeverageUp to 1:30EUR/USD SpreadFloating around 0.2 pipsTrading PlatformMT4/5, TickTrader, TradingViewDeposit Fee❌Withdrawal FeeFree for Viisa/MasterCard and Easy bank transfer, fees for Bank TransferCustomer Service9 am - 8 pm (Eastern European Time)Live chatTel: +357 25024000Email: support@fxopen.euRegional RestrictionUSAFXOpen Information FXOpen is a trading name of FXOpen EU Ltd, is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 194/13. FXOpen offers retail and professional trading available markets including indices, commodities, forex, shares, cryptos, and ETFs through MT4, MT5, TickTrader, and TradingView platforms.Pros & ConsProsConsRegulated by CySECUS clients are not acceptedNegative balance protectionNo copy tradingMany instruments availableHigh minimum depositDemo accountsWithdrawal fees chargedMT4 and MT5 platformsLive chat supportIs FXOpen Legit? Yes, FXOpen is regulated by Cyprus Securities and Exchange Commission (CySEC).Regulated CountryRegulated byRegulated EntityLicense TypeLicense NumberCySECFXOpen EU LtdMarket Making (MM)194/13Market Instruments Indices, commodities, forex, shares, cryptos, ETFs... FXOpen allows clients to access 700+ trading markets.Trading AssetsAvailableIndices✔Commodities✔Forex✔Shares✔Cryptos✔ETFs✔Bonds❌Options❌Account FXOpen only offers a single account type - ECN trading account, with a minimum deposit requirement of 300 USD or EUR. You can find detailed info about account features in the table and screenshot below:ECN Trading Account FeaturesMin Deposit$/€300Max Leverage1:30Spread Floating from 0 pipsCommissionFrom $1.5 per lotDemo Account✔Leverage The maximum leverage offered by FXOpen is 1:30. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.Spreads & Commissions The EUR/USD spread is floating around 0.2 pips. If you are interested in spreads on other trading instruments, you can find detailed spread info on its homepage: https://fxopen.com/en-cy/ As for commissions, if your account balance is below $1,000, the commission for forex trading is $3.5 per lot, while $1.5 per lot for account balance over $250,000+. Visit https://fxopen.com/en-cy/pricing/ to find more specific info on commissions on other trading instruments.ECN Account - FX CommissionAccount BalanceCommissionBelow $1,000$3.5 per lot$1,000 - $25,000$2.5 per lot$25,000 - $250,000$1.8 per lot$250,000+$1.5 per lotTrading Platforms As for the trading platform, FXOpen provides its clients with many options. There are public platforms such as MT4/5 and TradingView that have served many clients worldwide, also FXOpen's own platform TickTrader. If you didn't want to spend time familiarizing yourself with a new platform, you can choose MT4/5 and TradingView. But FXOpen's own platform provides better compatibility with businesses, as they are specially developed and customized platforms. The choice is yours.Trading PlatformSupported Available Devices Suitable for MT4✔Windows, MacOS, Web, iOS, AndroidBeginnersMT5✔Windows, MacOS, Web, iOS, AndroidExperienced tradersTickTrader✔MacOS, Windows, Linux, Web, iOS, Android/TradingView✔Windows, Web, iOS, AndroidBeginnersDeposit & Withdrawal In terms of deposit and withdrawal, like many good brokers, FXOpen provides a detailed form with important information about payment methods, accepted currencies, minimum/maximum amount, fees, and processing time. The feasible payment methods are Bank Transfer, Visa/MasterCard, and Easy bank transfer. DepositDeposit MethodMin DepositMax DepositDeposit FeeVisa/MasterCard0.01 EUR, 1 USD1,000 EUR/USD❌Easy Bank Transfer20,000 EUR/GBP50 EUR/GBP❌ WithdrawalWithdrawal MethodMin WithdrawalMax WithdrawalWithdrawal FeeWithdrawal TimeBank Transfer15 EUR, 30 USD, 15 GBPNo limit15 EUR, 30 USD, 15 GBP1-3 business daysVisa/MasterCard1 EUR/USD1,000 EUR/USD❌2-5 business daysEasy Bank Transfer10 EUR/GBP20,000 EUR/GBP❌/ Note: Withdrawal forms received before 12:00 (GMT) will be processed on the same business day. If these are received after 12:00 (GMT) or the weekend, they will be processed the next business day.Customer Support FXOpen does not offer 24/7 customer support. Customer service time is only available from 9 am to 8 pm (Eastern European Time) by live chat, phone, and email. You can also follow FXOpen on some social media platforms such as YouTube, Facebook, X, Telegram, LinkedIn, and Instagram.Service Time9 am - 8 pm (Eastern European Time)Live Chat✔Phone+357 25024000Emailsupport@fxopen.euAddress38 Spyrou Kyprianou Street, CCS BLDG - Office N101, 4154 Limassol, CyprusSocial MediaYouTube, Facebook, X, Telegram, LinkedIn, Instagram