FxOpen Review 2023

Are you looking for a reliable and trustworthy Forex trading platform? If so, you may have come across FXOpen. But are they worth investing in? In this article, we’ll dive into the details of FXOpen and review their services in 2023. We’ll look at whether it’s a reliable platform or if it’s a scam. So, if you’re thinking about trading with FXOpen, keep on reading for more!

The Forex market is one of the biggest and most popular financial markets in the world. It can provide investors with huge potential returns – but only if they’ve chosen the right platform to trade with. Unfortunately, not all platforms are created equal; some are scams that end up costing investors dearly. So before investing your hard-earned money, it’s important to know what you’re getting into. That’s why we’re going to take a close look at FXOpen and assess whether it provides traders with a safe and secure environment in which to trade.

In this article, we’ll cover all aspects of the FXOpen platform: its features, fees, customer support services, account types and more. We’ll also give our opinion on whether or not it’s suitable for traders in 2023 – so that you can make an informed decision about whether or not to use FXOpen for your own Forex trading journey. Let’s get started!

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Overview Of FXOpen Platform

FXOpen is an online Forex trading platform that provides a range of trading services for both novice and experienced traders. It has been operating since 2003 and is regulated by renowned financial institutions such as the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). Here are a few of the features that make FXOpen stand out:

  1. User-friendly Interface: FXOpen’s user interface is designed with beginners in mind, making it easy to quickly get started trading. The platform also offers advanced features for more experienced traders.
  2. Variety of Trading Instruments: FXOpen offers a wide variety of Forex pairs, indices, commodities, and cryptocurrencies to trade with. This makes it possible for traders to diversify their portfolio across different asset classes.
  3.  Low Fees & Leverage: FXOpen charges low fees compared to other brokers, with spreads starting from 0.1 pips on major currency pairs. Leverage up to 1:500 is also available on some accounts, enabling traders to take advantage of larger positions without needing large capital investments upfront.


Overall, FXOpen is a reliable and trustworthy broker which has proven itself over the years as a trusted provider of Forex trading services. Its user-friendly interface makes it ideal for beginners while its selection of assets gives experienced traders plenty of opportunities to diversify their portfolios. Additionally, its low fees and leverage make it an attractive option for all types of traders looking to maximize their returns while minimizing risk.

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Pros & Cons Of FXOpen

FXOpen is a reliable Forex trading platform that has been around since 2003. It offers traders a variety of features and services, such as multiple trading platforms, low fees, fast deposit/withdrawal times and more. However, there are some drawbacks to using FXOpen which should be taken into account before signing up.


  • Provides a range of trading instruments, including forex, cryptocurrencies, and CFDs.
  • Offers both ECN and STP execution models, which can be beneficial for traders with different trading styles.
  • Supports multiple trading platforms, including MetaTrader 4, MetaTrader 5, and cTrader.
  • Provides low spreads and commissions, which can be beneficial for traders looking to minimize trading costs.
  • Regulated by top-tier authorities, such as the FCA and ASIC.


  • Limited research tools and market analysis.
  • Limited educational resources compared to some other brokers.
  • Higher minimum deposit requirements than some other brokers.
  • Some users have reported slower customer support response times.
  • Limited availability of trading instruments compared to some other brokers.

Fees And Commission Structures

Moving on from the advantages and disadvantages of FXOpen, a closer look at their fees and commission structures is essential to understanding whether this forex trading platform can be trusted. The first matter to consider is their non-trading fees. As a broker, FXOpen does not charge any additional fees or commissions when it comes to making deposits or withdrawing funds. This is great news for traders who don’t want to worry about hidden costs.

Minimum depositfrom $100from $10from $10from $1
Maximum balancewithout limitationswithout limitationswithout limitations$3 000
Spreadfloating, from 0 pipsfloatingfloatingfloating
Commission (per 1 mio)from $15No0.5% of trade volumeNo
round turn
Minimum transaction size0.01 lots0.01 lots0.01 lots0.01 microlots
Maximum transaction sizewithout limitationswithout limitationswithout limitations$1 000 000
Open trades maxnot limited*not limited*not limited*up to 100 trades open
at the same time
Leverageup to 1:500up to 1:50001:03up to 1:500
Margin call100%50%30%20%
Stop Out50%30%15%10%
Demo accountsYesYesYesNo
Islamic accountsYesYesNoYes
Instruments50+ FX Spot CFDs50 currency pairs43 pairs with BTC, LTC28 currency pairs
25+ Cryptocurrency CFDs+ gold and silverEOS, PPC, ETH+ gold and silver
Index CFDs
Spot Metals CFDs
Commodity CFDs
Expert AdvisorsYesYesYesYes
News tradingYesYesYesNo
Phone dealingYesYesYesNo
Market depth with level 2 quotesYesYesYesNo

Next, traders should consider the trading fees and commissions that are associated with using the platform. As far as spreads go, FXOpen offers some of the most competitive rates in the industry. They have fixed spreads as low as 0.2 pips for some major pairs and floating spreads that generally range from 0.5 to 1 pip depending on market conditions. To further reduce trading costs, they also offer commission-free accounts with leverage up to 1:500 and no minimum deposit requirement.

All in all, FXOpen appears to be a reliable and cost-effective option for those looking to trade foreign currencies online. With no hidden charges or excessive trading fees, this platform could be worth considering if you’re looking for an easy way to get started in the world of forex trading.

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Security And Regulatory Compliance

FXOpen is a highly secure and regulated forex trading platform. It is registered with the Financial Conduct Authority (FCA) in the UK, and complies with MiFID II regulations. Additionally, FXOpen has secured an Australian Financial Services License (AFSL) from the Australian Securities and Investment Commission (ASIC). As such, it offers a safe environment for its customers to conduct their trading activities.

The following are some of the security measures that FXOpen provides to protect its users’ funds:

  • Advanced encryption technology to protect data transmitted over the internet
  • Multiple layers of authentication when accessing accounts
  • Regular testing of all systems
  • Dedicated anti-fraud team monitoring accounts


Overall, FXOpen ensures compliance with regulatory requirements and provides customers with an additional layer of security to ensure the safety of their funds. The platform also maintains strict customer identification procedures in order to prevent money laundering and other financial crimes. This commitment to security and compliance makes FXOpen an ideal choice for traders who prioritize safety when selecting a forex broker.

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Variety Of Account Types Available

Moving on, FXOpen offers a variety of account types to suit different traders’ needs. These include Standard Accounts, Micro Accounts, STP Accounts, and Crypto Accounts. All accounts can be opened with as little as $1 and offer leverage up to 1:500.

The Standard Account is suitable for both novice and experienced traders. It provides access to the MetaTrader4 trading platform which is widely used by traders all over the world. This platform allows for automated trading using Expert Advisors (EAs). The spreads are also competitive when compared to other brokers in the market.


The Micro Account is great for those who want to practice their trading strategies without risking too much money. With this account type, you can enjoy lower spreads and commissions than the Standard Account. You can also use EAs and scalping strategies with no restrictions or additional fees.

Overall, FXOpen provides a range of account types that cater to different levels of experience and risk appetite. From low cost starter accounts to more sophisticated options, FXOpen has something suitable for everyone looking to make money from forex trading. Whether you’re looking just to try your hand at trading or take things seriously, you can find an account type that fits your needs at FXOpen.

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Range Of Currency Pairs Offered

FXOpen offers a wide range of currency pairs for traders to choose from. It has over 60 major, minor and exotic currency pairs, making it one of the most diverse offerings in the industry. The platform also offers a variety of trading tools to help traders make informed decisions. These include market analysis, charting and technical indicators, as well as automated trading systems.

AUDCADAustralian Dollar / Canadian Dollar100000 AUD0.01 lot0.0151 CAD1%1%1:20
AUDCHFAustralian Dollar / Swiss Franc100000 AUD0.01 lot0.0151 CHF2%2%1:20
AUDJPYAustralian Dollar / Japanese Yen100000 AUD0.01 lot0.013100 JPY1%1%1:20
AUDNZDAustralian Dollar / New Zealand Dollar100000 AUD0.01 lot0.0151 NZD1%1%1:20
AUDUSDAustralian Dollar / US Dollar100000 AUD0.01 lot0.0151 USD1%1%1:20
CADCHFCanadian Dollar / Swiss Franc100000 CAD0.01 lot0.0151 CHF2%2%1:30
CADJPYCanadian Dollar / Japanese Yen100000 CAD0.01 lot0.013100 JPY1%1%1:30
CHFJPYSwiss Franc / Japanese Yen100000 CHF0.01 lot0.013100 JPY1%1%1:30
EURAUDEuro / Australian Dollar100000 EUR0.01 lot0.0151 AUD1%1%1:20
EURCADEuro / Canadian Dollar100000 EUR0.01 lot0.0151 CAD1%1%1:30
EURCHFEuro / Swiss Franc100000 EUR0.01 lot0.0151 CHF2%2%1:30
EURDKKEuro / Danish Krone100000 EUR0.01 lot0.0151 DKK2%2%1:20
EURGBPEuro / British Pound100000 EUR0.01 lot0.0151 GBP2%2%1:30
EURHKDEuro / Hong Kong Dollar100000 EUR0.01 lot0.0151 HKD1%1%1:20
EURJPYEuro / Japanese Yen100000 EUR0.01 lot0.013100 JPY1%1%1:30
EURNOKEuro / Norwegian Krone100000 EUR0.01 lot0.0151 NOK1%1%1:20
EURNZDEuro / New Zealand Dollar100000 EUR0.01 lot0.0151 NZD1%1%1:20
EURPLNEuro / Polish Zloty100000 EUR0.01 lot0.0151 PLN2%2%1:20
EURSEKEuro / Swedish Krona100000 EUR0.01 lot0.0151 SEK1%1%1:20
EURTRYEuro / Turkish Lira100000 EUR0.01 lot0.0151 TRY3%3%1:20
EURUSDEuro / US Dollar100000 EUR0.01 lot0.0151 USD1%1%1:30
GBPAUDBritish Pound / Australian Dollar100000 GBP0.01 lot0.0151 AUD2%2%1:20
GBPCADBritish Pound / Canadian Dollar100000 GBP0.01 lot0.0151 CAD2%2%1:30
GBPCHFBritish Pound / Swiss Franc100000 GBP0.01 lot0.0151 CHF2%2%1:30
GBPJPYBritish Pound / Japanese Yen100000 GBP0.01 lot0.013100 JPY2%2%1:30
GBPNZDBritish Pound / New Zealand Dollar100000 GBP0.01 lot0.0151 NZD2%2%1:20
GBPSGDBritish Pound / Singapore Dollar100000 GBP0.01 lot0.0151 SGD2%2%1:20
GBPUSDBritish Pound / US Dollar100000 GBP0.01 lot0.0151 USD2%2%1:30
HKDJPYHong Kong Dollar / Japanese Yen100000 HKD0.01 lot0.013100 JPY1%1%1:20
NOKJPYNorwegian Krone / Japanese Yen100000 NOK0.01 lot0.013100 JPY1%1%1:20
NOKSEKNorwegian Krone / Swedish Krone100000 NOK0.01 lot0.0151 SEK1%1%1:20
NZDCADNew Zealand Dollar / Canadian Dollar100000 NZD0.01 lot0.0151 CAD1%1%1:20
NZDCHFNew Zealand Dollar / Swiss Franc100000 NZD0.01 lot0.0151 CHF2%2%1:20
NZDJPYNew Zealand Dollar / Japanese Yen100000 NZD0.01 lot0.013100 JPY1%1%1:20
NZDSGDNew Zealand Dollar / Singapore Dollar100000 NZD0.01 lot0.0151 SGD2%2%1:20
NZDUSDNew Zealand Dollar / US Dollar100000 NZD0.01 lot0.0151 USD1%1%1:20
SGDJPYSingapore Dollar / Japanese Yen100000 SGD0.01 lot0.013100 JPY1%1%1:20
USDCADUS Dollar / Canadian Dollar100000 USD0.01 lot0.0151 CAD1%1%1:30
USDCHFUS Dollar / Swiss Franc100000 USD0.01 lot0.0151 CHF2%2%1:30
USDCNHUS Dollar / Chinese Offshore Yuan100000 USD0.01 lot0.01410 CNH2%2%1:20
USDDKKUS Dollar / Danish Krone100000 USD0.01 lot0.0151 DKK2%2%1:20
USDHKDUS Dollar / Hong Kong Dollar100000 USD0.01 lot0.0151 HKD1%1%1:20
USDJPYUS Dollar / Japanese Yen100000 USD0.01 lot0.013100 JPY1%1%1:30
USDMXNUS Dollar / Mexican Peso100000 USD0.01 lot0.0151 MXN3%3%1:20
USDNOKUS Dollar / Norwegian Krone100000 USD0.01 lot0.0151 NOK1%1%1:20
USDPLNUS Dollar / Polish Zloty100000 USD0.01 lot0.0151 PLN2%2%1:20
USDRUBUS Dollar / Russian Ruble100000 USD0.01 lot0.01410 RUB4%4%1:20
USDSEKUS Dollar / Swedish Krona100000 USD0.01 lot0.0151 SEK1%1%1:20
USDSGDUS Dollar / Singapore Dollar100000 USD0.01 lot0.0151 SGD1%1%1:20
USDTRYUS Dollar / Turkish Lira100000 USD0.01 lot0.0151 TRY3%3%1:20

The platform is also very user-friendly and intuitive. It allows users to easily navigate between different currency pairs and view their performance on a single page. This makes it easier for traders to analyze markets and make trades without having to switch between multiple pages or screens. Additionally, FXOpen also provides educational resources such as tutorials and webinars that can help new traders get up to speed quickly with the platform’s functionalities.

Overall, FXOpen is a reliable forex trading platform that provides its users with an extensive range of currency pairs and helpful trading tools. Its user-friendly interface makes it easy for all levels of traders to take advantage of the services offered by the platform.

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Customer Support Services

Moving on, let’s discuss the customer support services offered by FXOpen. They’ve got a range of options available to their customers, which include email and live chat. Their customer service representatives are available 24/7 to help customers with any inquiries they may have.

In addition to these options, FXOpen also provides an online knowledge base and other helpful resources for traders who want to learn more about forex trading.


The following are some of the benefits that come with using FXOpen’s customer support services:

Professional advice:

  • Experienced customer service representatives who can provide valuable insights into trading strategies.
  • Access to webinars and educational materials for those interested in learning more about forex trading.

Quick responses:

  • The response time for emails is usually within 24 hours.
  • Live chat support is available around the clock and fast answers can be expected.

Comprehensive solutions:

  • A knowledgeable staff that can answer complex questions related to forex trading or technical issues related to the platform itself.

FXOpen’s customer support is reliable, helpful, and highly efficient – making it ideal for both novice and experienced traders alike looking for assistance with their forex trading endeavors.

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User Reviews

FXOpen has been around since 2023 and has earned a good reputation amongst traders. Many users have positive experiences with the platform, praising its reliable order execution, competitive spreads, and wide range of trading instruments. The customer service team is also highly praised for their fast response times and helpful attitude.


Despite these positive reviews, there are some who claim that FXOpen is a scam and they have lost money while using the platform. These claims are not backed up by any credible evidence and FXOpen denies these allegations. It’s important to take into account that trading in general is risky, so no matter which broker you use, it’s important to understand the risks before investing any money.

Overall, FXOpen appears to be a reliable forex trading platform and most users have had positive experiences with it. With its competitive spreads, wide range of instruments and excellent customer support, it can be an ideal choice for experienced traders looking for a trusted broker.

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Summary And Conclusion

After an extensive review of FXOpen, it is clear that it is a reliable Forex trading platform. It offers competitive spreads, low commissions and a variety of trading tools and features to help traders maximize their profits. The customer service team is also friendly and knowledgeable. Additionally, it has strong security measures in place to protect the funds of its customers.

Overall, FXOpen provides a safe and secure environment for traders to invest in with confidence. It has been around since 2003 and has earned itself a reputation as one of the most trusted brokers in the industry. Furthermore, its user-friendly interface makes it easy for anyone to get started with Forex trading without any prior experience or knowledge.

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It is safe to say that FXOpen is a reliable forex trading platform that provides all the necessary features for successful trades. With competitive spreads, low commissions and excellent customer service support, traders are sure to have a positive experience when using this broker’s services.

In conclusion, FXOpen is a reliable forex trading platform worth considering. It has many advantages that make it attractive to traders: competitive fees and commission structures, a wide range of currency pairs offered, and good customer support services. Security and regulatory compliance are also top-notch. User reviews show that overall most people have had positive experiences with the platform.

Overall, FXOpen seems to be a safe bet for those who are looking for an affordable, reliable forex trading platform. It offers plenty of features that make it suitable for novice and experienced traders alike. With its low fees and robust security systems, FXOpen is certainly worth considering when choosing a trading platform.

If you’re in the market for a forex trading platform, I’d definitely recommend giving FXOpen a try. Its user-friendly interface makes it easy to use even if you’re new to trading. You won’t regret it!