Key Takeaways

  • Custom Crypto account with competitive costs.
  • Accepts deposits and withdrawals in crypto.
  • Good offering of trading platforms, including TickTrader.
  • 1,000+ financial instruments available for trading.

FXOpen Overall rating

4.7
Overall rating is an average of ratings from experts in 4 categories.
Pricing
5.0
Regulation
5.0
Popularity
4.5
User rating
Source: fxverify.com

Starting our FXOpen review, we will outline some of the key features of this popular CFD broker. FXOpen is a UK-based, and well-regulated broker, supervised by some of the leading global financial regulators, such as the UK’s FCA, Cyprus CySEC and Australia’s ASIC.

The long-established FXOpen brand represents a reputable choice for investors looking to trade a great range of financial instruments, via excellent trading conditions promoted by the broker. FXOpen offers leveraged CFDs trading in forex, indices, commodities, shares and cryptocurrencies.

FXOpen also represents a valid option for investors looking for an alternative broker to trade cryptocurrencies. FXOpen is betting on the popularity of this asset class and currently is one of the leading brokers offering leveraged CFDs on over 40 crypto crosses. Not only that, but FXOpen is also accepting deposits, and processing withdrawals, in BTC, BCH, LTC, EMC, ETH and USDT.

On the downside, FXOpen deposit/withdrawal fees (5% + 0.15 USD / 5% + 0.15 EUR / 5.5% + 40 RUB for card deposits, for example) are criticised by the trading community along with the exchange rates. Also negatively, a few traders signalled the inefficiency of the FXOpen customer support services with technical questions.

FXOpen Regulation / Money Protection

5.0
Company Licenses & Regulations Segregated Client Money Deposit Compensation Scheme Negative Balance Protection Rebates Max. Leverage Retail Clients
FXOpen AU PTY Ltd 30 : 1
FXOpen EU Ltd up to €20,000 30 : 1
FXOpen Ltd up to £85,000 30 : 1
FXOpen Markets Limited 500 : 1

Opening a trading account with FXOpen is possible with any of its four entities; three highly regulated by tier-1 and tier-2 financial authorities and an offshore entity – FXOpen Markets Limited in Nevis. The Nevis entity serves the international clientele, and also the traders looking for higher leverage ratios – up to 500:1. Let’s check out each FXOpen entity, individually.

International clientele:

FXOpen Markets Limited, trading as FXOpen, and with address at P.O. Box 590, Springates East, Government Road, Charlestown, Nevis will be the counterparty for international customers (this entity does not provide services to residents of the US, Belgium and Japan). FXOpen Markets Limited is incorporated in Nevis with company number C 42235. The FXOpen global website is www.fxopen.com.

Australian regulation: FXOpen AU PTY Ltd, with ACN 143 678 719, and also trading as FXOpen, is licensed by the Australian Securities & Investments Commission (ASIC). FXOpen AU Pty Ltd, with a registered address at Level 25, 108 St Georges Terrace, Perth, WA 6000, Australia, is regulated by the ASIC with licence AFSL 412871 to offer financial services in Australia, limited to the financial services covered by its AFSL licence. FXOpen Australian website is www.fxopen.com.au.

United Kingdom regulation: FXOpen Ltd is a financial services company registered in England and Wales under number 07273392. This entity has a registered office at 80, Coleman St, London EC2R 5BJ, United Kingdom, and is authorised and regulated by the UK’s Financial Conduct Authority (FCA) with reference number 579202. FXOpen UK’s website is www.fxopen.co.uk.

European regulation: FXOpen EU Ltd, with address at 38, Spyrou Kyprianou Str, CCS BLDG - Office N101, CY-4154 Limassol, is a financial services company registered as a Cypriot Investment Firm (CIF) under number 310300. FXOpen EU Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC) with licence number 194/13. The CySEC licence allows FXOpen EU Ltd to offer online financial services in Europe according to the guidelines set out on the MiFID rules. FXOpen European website is www.fxopen.eu.

Client Money Protection

FXOpen complies with the highest safety standards for clients' funds. FXOpen also complies with client money handling regulations and employs strict policies and procedures regarding the maintenance and operation of these accounts.

For these reasons, FXOpen clients' funds are kept in top-tier international banks, such as the Commonwealth Bank of Australia, Barclays Bank Plc and Lloyds Bank Plc, fully segregated from the company’s funds.

Deposit Compensation

FXOpen Ltd, is a member of the Financial Services Compensation Scheme (FSCS), an independent compensation fund of last resort for customers of authorised UK financial services firms. If FXOpen Ltd is unable to pay claims against it in the event the firm has stopped trading or has declared to be in default, clients might be entitled to compensation (up to the value of £85,000) per claim.

FXOpen EU Ltd is a member of the Cyprus CySEC Investor Compensation Fund (ICF). The ICF is an investor compensation fund for retail clients of CIF registered financial firms, and its functions are regulated by the directive DI87-07 of the CySEC. If FXOpen EU Ltd is unable to meet its obligations, retail clients might be entitled to compensation to the value of up €20,000 per claim, irrespective of the number of accounts held, currency and place of the offering of the investment service (within Europe).

Negative Balance Protection

All of the regulated FXOpen entities, the FXOpen Ltd (UK), FXOpen AU PTY Ltd (Australia) and FXOpen EU Ltd (Cyprus), offer a default Negative Balance Protection. With the NBP mechanism, customers of these regulated entities are protected from any losses bigger than their original investments, in cases of extreme market volatility.

For customers opening an account with the Nevis entity, FXOpen Markets Limited, the Negative Balance Protection mechanism is not offered.

FXOpen Cashback rebates

Cash back rebates are paid per round turn lot unless otherwise specified. 1 Lot = 100,000 base currency units traded.
  STP ECN PAMM ECN PAMM STP Crypto
Forex0.23 Pips20% Of Commissions Paid0.23 Pips20% Of Commissions Paid
CryptocurrenciesNone20% Of Commissions Paid
Payment Options
Monthly Cash Back
Payments are credited and sent automatically by the 12th of the month following the month cashback is earned in.
  STP
Forex 0.23 Pips
Payment Options
Monthly Cash Back
Payments are credited and sent automatically by the 12th of the month following the month cashback is earned in.
  ECN
Forex 20% Of Commissions Paid
Payment Options
Monthly Cash Back
Payments are credited and sent automatically by the 12th of the month following the month cashback is earned in.
  PAMM ECN
Forex 20% Of Commissions Paid
Payment Options
Monthly Cash Back
Payments are credited and sent automatically by the 12th of the month following the month cashback is earned in.
  PAMM STP
Forex 0.23 Pips
Payment Options
Monthly Cash Back
Payments are credited and sent automatically by the 12th of the month following the month cashback is earned in.
  Crypto
Forex 20% Of Commissions Paid
Cryptocurrencies 20% Of Commissions Paid
Payment Options
Monthly Cash Back
Payments are credited and sent automatically by the 12th of the month following the month cashback is earned in.

Notes

PAMM STP Accounts: Manager and investor receive rebates proportionate to the amount invested.

Maximum rebates payable per client: $66.66 per order; $666.66 per day; $6666.66 total.

Rebates are not paid on Micro accounts.

What are FXOpen rebates?

FXOpen rebates are a portion of the transaction cost that is paid back to the client on each trade, resulting in a lower spread and improved win ratio. For example, if your rebate is 1 pip and the spread is 3 pips, then your net spread is only 2 pips.

Many traders initially believe there must be higher costs elsewhere to compensate, however they soon find there is no catch and Forex rebates truly reduce the costs of the transaction and improve their bottom line.

How do FXOpen rebates work?

When you link a new or existing forex trading account to us the broker pays us part of their spread or commission profit for every trade you make as compensation for referring a customer to them. We then share the majority of our revenue with you, paying you a cash rebate for each trade you make as thank you for signing up with us.

Unlike some of our competitors your spreads will never increase as a result of using our service! The only difference is: as our client you earn extra cash per trade, making trading through us more profitable than opening direct with the broker. Founded in 2007, we are the original and leading provider of forex rebates. We pay rebates to over 100,000 accounts and traders love our helpful 24 hour live chat, telephone and email support.

How much FXOpen rebates can I earn?

Use our forex rebate calculator to estimate your FXOpen rebate earnings:

Forex rebate calculator

You must enter a valid number

Are FXOpen rebates a scam; do my spreads increase?

FXOpen rebates paid by legitimate rebate providers are not a scam, however scams do exist. The most common scam is a rebate provider that marks up the spread or commission in order to pay a higher rebate than competitors. Many brokers do allow a referring party, or rebate provider, to markup costs to traders they refer. Obviously this defeats the purpose of the service provided by the rebate provider and thus jeopardizes the viability of the rebate provider’s reputation and business, so a reliable provider wouldn’t consider this. Besides this, certain rebate providers may not pay on time, or not at all. This is why it’s important to choose a reliable provider.

When working with a trustworthy rebate provider, there is no ‘catch’. It is more beneficial to a trader’s financial position to work with a rebate provider than solely with the forex broker.

Are there any other benefits to signing up for FXOpen rebates?

It depends on the rebate provider. Due to our unique relationship with many brokers, we have often mediated between brokers and clients in order to help successfully resolve client issues, including clients who are having withdrawal issues. Brokers are often very fast to respond to us, since we typically have many clients with them. Our knowledgeable support team is available 24 hours per day in 8 native languages & 23 total languages for any questions. We also offer trading tools, calculators, reviews and a robust forex education section.

How are forex rebates paid?

Because we deal with so many traders in so many different countries and serve 23 languages we have to cover a wide array of options. Here’s what we offer:

Forex rebate options vary per broker:

Monthly cash back Payments are credited and sent automatically by the 12 of the month following the month rebates are earned in.
Spread or commission reduction The trader actually receives reduced commissions and/or spreads. This is an exciting option offered by some of our top brokers.
Paid direct to brokerage account Cashback is credited directly to the trader’s brokerage account, typically between 1-7 days after the trade is closed. This is another exciting options offered by some of our top brokers.

In the case of the ‘Monthly cash back’ rebate option, monthly payments can be paid via bank wire, Paypal, Skrill, Sticpay, China Unionpay, and Neteller. Some payment methods such as bank wire carries fees and often traders set a custom minimum payment amount in order to accumulate rebates and withdraw their rebates less often than monthly.

FXOpen Profile

Company Name FXOpen Markets Limited
Year Founded 2005
Headquarters Saint Kitts and Nevis
Office Locations Australia, Saint Kitts and Nevis, New Zealand, Russian Federation, United Kingdom
Account Currency AUD, CHF, EUR, GBP, GLD, JPY, RUB, SGD, USD, BTC, LTC, ETH, DSH
Client funds bank ALFA-BANK
Support Languages Arabic, Chinese, English, French, German, Indonesian, Portuguese, Russian, Spanish, Thai, Turkish, Farsi
Funding Methods Bank Wire, Bitcoin, China Union Pay, FasaPay, IntellectMoney, Litecoin, Neteller, PayZa, Perfect Money, QIWI Wallet, RBK Money, Skrill (Moneybookers), Yandex, Webmoney, ePayments, SorexPay
Financial Instruments Forex, Indices, Oil/Energies, Cryptocurrencies
24 hour support
Segregated Accounts
Islamic Accounts
Accepts Canadian clients
Accepts Japanese Clients
Non expiring demo
Cent accounts
Negative balance protection
Social trading
Regulatory deposit insurance
Trailing stops
Bonuses
Interest on margin
Fixed spread
Variable spread

Established in 2005, and with offices in the UK and Australia, FXOpen is one of the world's leading and fastest-growing Forex brokers. The broker offers its customers attractive trading conditions, fast and error-free order execution and the industry's most advanced and innovative technological solutions for both retail and institutional clients.

FXOpen offers various accounts types, from the Micro account, suitable for novice traders, to the Crypto account – tailored for cryptocurrencies investors. And with over 1,000,000 opened accounts (according to their corporate website) serving traders around the globe, and operating in 96 countries for the past 15 years, FXOpen offers the best trading tools to enhance the trading experience of individuals and institutional customers on several markets.

With a global presence, FXOpen offers great trading conditions and fast execution times, and customers can enjoy a tailored trading experience that perfectly suits their needs. Trading with FXOpen can be done via the MetaTrader 4, the next-gen MetaTrader 5 and the TickTrader platforms, all available as a standalone web trader version, desktop terminals, and complemented with the mobile versions for Android and iOS.

FXOpen Asset classes

FXOpen trading platforms provide traders with direct liquidity from multiple venues (SG Paris, Standard Chartered, Barclays Capital, Bank of America, CRNX, JPMorgan, Morgan Stanley, Deutsche Bank AG, RBS, CITI and UBS), and multi-asset trading – FX and CFDs on several financial instruments. As an online CFD broker, FXOpen offers a great selection of 1,000+ tradable financial instruments, divided into 5 asset classes: forex, indices, shares, cryptocurrencies and commodities.

FX market: 50+ currency pairs, including all major pairs, and some minor and exotic crosses.

Indices: 10 global indices CFDs, including the UK100, AUS200, WS30 and NIKKEI 225.

Stocks: 100 stocks CFDs available for trading, from global stock exchanges, such as NYSE, and NASDAQ, from worldwide top companies and banks, such as Apple, Citigroup, Netflix, eBay and Tesla. Investors opening a trading account with the TickTrader platform will have access to 600+ single stocks of some of the world’s largest, and well-known companies and banks.

Commodities: 5 commodities CFD available for trading; 2 metals – Gold and Silver versus the USD and 3 energies – UK Oil, US Oil, and Nat Gas.

Cryptocurrencies: 43 cryptocurrencies CFDs crosses available for trading, including BCH, BTC, DSH, EMC, EOS, ETH, LTC, NMC, PPC, XRP versus the USD and several altcoins crosses including BCH/BTC, DSH/BTC, EOS/BTC, ETH/BTC, ETH/LTC and LTC/BTC*.

*Please note, cryptocurrencies CFDs are only available to traders registering a live account with FXOpen Markets Limited (Nevis entity).

FXOpen Account types

  STP ECN PAMM ECN PAMM STP Crypto
CommissionNoneFrom 1.5 to 5 units for ECN AccountsNone 0.5% of the base currency Per Lot;
Maximum leverage500:1100:13:1
Mobile PlatformMT4 Mobile, MT5 MobileMT4 MobileNoneMT4 Mobile
Trading PlatformMT4, MT5, WebTraderNoneMT4
Spread TypeVariable Spread
Minimum Deposit1010020010
Minimum Trade Size0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts
  STP
Maximum leverage 500:1
Typical Spread 1 - 1.2
Trading platform MT4MT5WebTrader
Mobile platform MT4 MobileMT5 Mobile
Spread type Variable Spread
Minimum deposit 10
Minimum Trade Size 0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts
  ECN
Commission From 1.5 to 5 units for ECN Accounts
Maximum leverage 500:1
Typical Spread 0.0-0.4
Trading platform MT4MT5WebTrader
Mobile platform MT4 MobileMT5 Mobile
Spread type Variable Spread
Minimum deposit 100
Minimum Trade Size 0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts
  PAMM ECN
Commission From 1.5 to 5 units for ECN Accounts
Maximum leverage 100:1
Typical Spread 0.0 - 0.4
Mobile platform MT4 Mobile
Spread type Variable Spread
Minimum deposit 100
Minimum Trade Size 0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts
  PAMM STP
Maximum leverage 100:1
Typical Spread 1 - 1.2
Spread type Variable Spread
Minimum deposit 200
Minimum Trade Size 0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts
  Crypto
Commission 0.5% of the base currency Per Lot;
Maximum leverage 3:1
Typical Spread 0.0
Trading platform MT4
Mobile platform MT4 Mobile
Spread type Variable Spread
Minimum deposit 10
Minimum Trade Size 0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

FXOpen offers several accounts tailored to suit every trading strategy and every investor type. In total, the broker offers 4 different retail accounts, with different leverage limits, pricing and suited for the needs of today’s investors. Let’s check out each account and its features:

FXOpen Micro account* is designed for novice traders new to CFDs trading, for investors looking to trade with smaller trading volumes, and allows trading of only 28 currency pairs, plus Gold and Silver via MT4 only. Spreads are floating, starting at 1.0 pip for major pairs, with no trading commissions and Micro accounts can be opened with a very low initial deposit – 1 USD.

*Please note, Micro accounts are only available to traders registering a live account with FXOpen Markets Limited (Nevis entity).

FXOpen STP account is best suited for experienced retail traders looking to trade only with the bid and ask prices, without any added commissions. The FXOpen STP account allows trading of 50 FX pairs, plus Gold and Silver, and is available only with the MT4 platform. Spreads are also floating, starting at 1.0 pip for major pairs, with no trading commissions and STP accounts can be opened with a low initial deposit – 10 USD.

FXOpen ECN account is the broker’s most competitively priced account, suitable for all traders, but particularly useful for scalpers, high-volume traders and those who trade with Expert Advisors (EAs). The ECN account allows trading of 50 FX pairs, plus 25 cryptocurrencies CFDs, and is available with the MT4, MT5 and TickTrader. Spreads are floating, starting at 0.0 pip on major FX pairs and a trading commission of 1.5 units per lot traded. The minimum deposit starts at 100 USD.

FXOpen Crypto account* is a custom-built account for investors looking to trade cryptocurrencies CFDs. The Crypto account boasts 43 crypto pairs available for trading, with tight spreads, and a trading commission of just 0.5% of traded volume, per round turn. Maximum leverage is capped at 3:1, and the Crypto account is available only with the MT4 trading platform. The minimum deposit for the FXOpen Crypto account is 10 USD.

*Please note, Crypto accounts are only available to traders registering a live account with FXOpen Markets Limited (Nevis entity).

FXOpen also offers swap-free accounts for traders of Islamic belief and viable options for money managers via its FXOpen PAMM accounts*, available for three asset classes – PAMM ECN, PAMM STP and PAMM Crypto.

*Please note, PAMM accounts are only available to traders registering a live account with FXOpen Markets Limited (Nevis entity).

Regarding leveraged forex trading, FXOpen maximum leverage ratio is 500:1 for clients opening a live account with the entity in Nevis, and is limited to 30:1 for retail traders opening a trading account with the UK’s FCA, Australia’s ASIC and the Cyprus CySEC regulated entities.

Currently, FXOpen trading accounts are available in USD, AUD, CHF, EUR, GBP, JPY, RUB, SGD, BTC and mBTC – subject to the contracting entity and the traders' geographical location.

FXOpen Demo account

With a FXOpen demo account traders can compare this CFDs broker with its peers, regarding its product offering and trading conditions. A FXOpen demo account can also be used by novice traders to practise their trading skills in a safe environment, without risking real money.

Opening a FXOpen demo account takes less than 5 minutes, and is available for the MT4 and MT5 terminals and TickTtrader platform. New users will need to fill in a simple form, selecting the account type (Demo ECN, Demo STP or Demo Crypto), and the initial deposit. The broker requires also some basic information, like a valid email address, and a phone number. Please note that to open a demo account, traders do not need to upload any verification document(s) to FXOpen, unless they are ready to open a live account.

After typing the anti-spam code and accepting the terms and conditions, the only thing left is to click the “Submit” orange button, FXOpen will send the demo logins by email (including the trading server address) and users will then have to download the MetaTrader desktop versions, available for PC, Mac, or install the mobile versions available for iOS and Android.

FXOpen demo account gives users the chance to test the broker's services and pricing on several financial instruments, without risking any real money, for an unlimited time, as the demo account is non-expiring. FXOpen guarantees a demo that mimics real market conditions, allowing the correct testing of multiple trading strategies, and even automated trading.

A FXOpen demo account is 100% risk-free and the funds (up to $5,000,000) are virtual – including both winnings and losses, of course.

Register for free and test your trading strategies, open an FXOpen demo trading account with no risk and no obligation now.

FXOpen Pricing

Account/Pricing Micro STP ECN Crypto
EUR/USD Spread from 1.0 pip from 1.0 pip from 0.0 pip BTC/USD spread from $6
EUR/USD Commission (1 lot) $0 $0 from $3 BTC/USD 0.5% of trade volume, round turn
EUR/USD Swap rate
(19-10-2021)
  • Long: -0.441
  • Short: -0.036

Spreads and trading commissions

FXOpen’s pricing and trading costs reward the investors with more trading equity and are slightly better than the pricing offered by other players in this industry. The starting spread for the most popular cross, the EUR/USD pair, on the Micro and STP accounts is 1.0 pip, commission-free.

The highlight goes to FXOpen’s ECN account, with more competitive pricing and trading conditions. Taking the EUR/USD cross again as our example, FXOpen proposes a starting low spread of 0.0 pip and also a low trading commission for 1 standard lot (100,000 currency units). FXOpen uses a 4-level trading commission structured to benefit traders that trust the broker with their money:

For ECN accounts with a balance over $250,000, the trading commission is $3 ($1.5 per side/per lot). For accounts with a balance between $25,000 and $250,000, the trading commission will be $3.6 ($1.8 per side/per lot). For the ECN accounts with a balance ranging between $1,000 and $25,000 the trading commission will be $5 ($2.5 per side/per lot) and for accounts with a balance up to $1,000 the trading commissions will be $7 ($3.5 per side/per lot).

Expecting that most traders will have an account balance ranging from $1,000 to $25,000, we consider the FXOpen ECN account median trading commission of $5 to be lower when compared with several other top brokers who charge on average between $6 to $7 per 100,000 currency units traded, regardless of the account balance.

If you are a trader looking for an alternative broker for cryptocurrencies trading, FXOpen can also represent an interesting option. FXOpen offers customers the chance to profit from both rising and falling cryptocurrencies prices, with competitive spreads (BTC/USD, for example, as an average spread of $12) and trading commissions as low as 0.5% of trade volume per round turn.

Rollover rates

FXOpen swap rates, as of 19-10-2021, and for the EUR/USD, stand at -4.41 for holding overnight a long position of 1 lot and at +0.36 for holding overnight a short position of 1 lot. We consider the broker’s rollover rates to be slightly better when compared with the rollover rates offered by other top brokers.

FXOpen Deposits / Withdrawals

Deposit fees: Trading accounts can be opened in 9 different fiat currencies, plus 4 cryptocurrencies (BTC, LTC, ETH, DSH) and maintained via 14 different funding methods. Together with the traditional methods, debit/credit cards and bank wires, FXOpen also accepts deposits with the most popular e-wallets such as Neteller, Skrill, and China Union Pay (subject to jurisdiction). Traders can also fund FXOpen accounts with Bitcoin, Litecoin, Dash and Ethereum.

FXOpen charges deposit fees, variable according to the funding method and deposited funds are available almost instantly. Please visit the FXOpen funding options web page for more information.

Minimum deposit: Opening a trading account with FXOpen can be done online, taking around 10 minutes to complete the required forms. FXOpen minimum deposit requirement to open a live account is $1 for the Micro account, $10 for the STP account, $100 for the ECN account and the Crypto account is $10.

For the FXOpen PAMM ECN account, the minimum deposit is $1,000*, if a user registers as a Master, and the minimum deposit for the FXOpen PAMM STP and FXOpen PAMM Crypto is $200* for Masters.

*Or the equivalent on the other accepted account base currencies.

Withdrawal fees: FXOpen also charges fees for the withdrawals (withdrawal times vary, according to selected withdrawal method). For more information, please visit the FXOpen deposit and withdrawals info page.

Inactivity fee: Currently, FXOpen charges an inactivity fee after 90 consecutive days of non-use (no trading activity or no open positions, no deposits, or transfers or withdrawals) and every successive month at 10 USD/month. The inactivity fee will be deducted from the customer's trading account available balance. Investors can ask FXOpen to re-activate an inactive account, for a one-time fee of 50 USD.

FXOpen Popularity

FXOpen is a CFDs broker enjoying great popularity with the trading community. With FXOpen investors can trade with different trading platforms, the classic MT4 and the next-gen MT5, and the more complete TickTrader platform, allowing all types of strategies, automated trading and to suit all kinds of traders. But the key factor for FXOpen popularity with the trading community is its cryptocurrencies trading offering - over 40 crosses available to trade.

FXOpen is also very popular with traders for their excellent range of PAMM accounts offering, suitable for traders looking to earn extra with their trading skills and registering as Masters and for investors looking to earn on the positions of more experienced traders and registering as Followers.

On top of that, FXOpen good promotions and contests attract lots of new traders to the broker's trading platforms, especially the FXOpen ForexCup. The ForexCup offers regular weekly and monthly trading contests for demo accounts, with a real cash prize, and since 2015, over 1,500 traders have won prize money and bonuses with a total amount of $200,000 – according to the broker’s website.

Popular trading account: The FXOpen ECN account is the popular choice with traders looking to save on trading costs, with lower spreads and a competitive commission from $3 per standard lot ($100,000 currency units).

Trading education

FXOpen loses some popularity points for its limited range of trading and educational materials, available through the "Trader’s Tools” and “Resources” tabs on its website. FXOpen clients can only find the broker’s blog (quite honestly some of the topics seem abandoned), market news and limited market analysis, economic calendar and a couple of calculators.

Research & education materials available on FXOpen website
FX Courses - money management, how to trade the markets, etc.
Market Analysis - daily or weekly market reports
Webinars - live, online trading education with experts
WebTV - live video stream of financial news
Trading Videos - trading education videos
Trading eBooks - trading education literature
Trading Strategies - technical analysis strategies
Trading Tools - calculators, economic calendar, etc.
Market Signals - suggested buy/sell entries with TP and SL levels

FXOpen Promotions

No promotions available at the moment.

FXOpen FAQs

What are the group companies and the FXOpen regulation?

FXOpen has 4 group companies, non-regulated FXOpen Markets Limited in St. Kitts & Nevis and 3 highly regulated. FXOpen AU Pty Ltd is authorised and regulated by the Australian Securities and Investments Commission (ASIC) in Australia. FXOpen EU Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) in Europe. FXOpen Ltd is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom.

Each group company operates independently, offering different levels of leverage, different protection mechanisms to retail clients, and also different minimum deposit requirements to open a live account. Please refer to the table below for a complete comparison of all FXOpen group companies:

Company FXOpen Markets Limited FXOpen AU Pty Ltd FXOpen EU Ltd FXOpen Ltd
Regulation Non-regulated ASIC CySEC FCA
Account types Micro, STP, ECN, Crypto ECN, STP
Leverage limits 500:1 30:1 Retail - 500:1 Professional
Financial instruments Currencies, CFDs, indices, commodities, stocks, cryptos Currencies, CFDs, indices, commodities, stocks
Trading platforms MetaTrader 4, MetaTrader 5, TickTrader
Minimum deposit $1 $300 €300 £300


What can I trade with the FXOpen MT5?

FXOpen MT5 trading platform is currently supported only with the FXOpen ECN account. Investors will be able to trade 50 currency pairs, 25+ cryptocurrencies CFDs (available only with the FXOpen Markets Limited entity), shares CFDs, index CFDs, spot metals CFDs and commodities CFDs.

Spreads of the FXOpen ECN MT5 account are floating, starting at 0.0 pip for major currency pairs, execution type is market with no-requotes (possible slippage may occur), the minimum transaction size is 0.01 (micro lot, or 1,000 currency units) and this account is also offered in demo version and swap-free for traders of Islamic belief.

Does FXOpen offer WebTrader?

Yes, FXOpen offers the WebTrader trading platform in two versions; MT4/MT5 and TickTrader.

The FXOpen WebTrader MT4/MT5 has the familiar interface of the same terminal versions for desktops, supports all popular browsers, is compatible with all operating systems and is accessible with no download on PC, Linux and Mac OS.

To test the FXOpen WebTrader MT4/MT5 on your browser, all you need is a stable internet connection*.

*Requires creating a demo account directly on the web terminal, taking around 30 seconds.


The FXOpen WebTrader TickTrader is an evolved and powerful trading platform, supporting TradingView charts, complete order book with aggregated volumes providing a visual component for Depth of Market indication and allowing margined trading across five asset classes at the best available prices.

Test the FXOpen WebTrader TickTrader on your internet browser*.

*Requires registering a demo account directly on the web terminal.


Does FXOpen offer a bonus?

At the time of writing, there isn’t any FXOpen bonus. Nevertheless, FXOpen has an interesting cashback program that lets traders receive an additional refund for any kind of trades including loss-making.

It works quite easily, the cashback is added to the user’s commission account, which is open automatically, with no further actions. The cashback amount is determined following the total margin used on all client's trading accounts. The program is available for all types of FXOpen trading accounts: ECN, STP, Crypto, Micro, PAMM ECN and PAMM STP – subject to jurisdictions and client’s country of residence.

New traders can use the FXOpen cashback program during the first 90 days from the moment of registration. For existing FXOpen clients, the program is available for 90 days from the moment of joining the program – connection is carried out upon request to the support service at support@fxopen.com. The minimum redeemable cashback amount is $5, the maximum is $1,000. The maximum cashback rewarded per trade is $100.

How to enrol on the FXOpen contest?

Traders joining the FXOpen trading contest can earn real money prizes, and bonuses, for their live trading account, by entering the exciting world of forex trading contests with ForexCup.

The ForexCup contest offers regular weekly and monthly trading contests for demo accounts, and traders can join most of them for free, but some might be subject to a small entry fee. The FXOpen contest is the best way for novice traders (and seasoned traders as well) to gain experience in currencies trading and to improve or to try out new trading strategies.

The contest offers the demo ECN trading environment of the FXOpen broker, and all the trading is done via the popular MetaTrader 4 terminal. Winners will receive real prize money and bonuses, and after the end of the contest winners can withdraw the cash prize or use it for live trading.

The FXOpen contest was launched 10 years ago and during its existence over 220 contests have been organized, including CryptoMania, PAMM School and Regional Forex Championships with an overall prize fund of more than $500,000. Since 2015, over 1,500 traders have won cash prizes and bonuses with a total amount of $200,000.

To check out the current FXOpen contest, or to register for the next available one, follow the available tournaments link.

FXOpen review - final considerations.

We conclude our FXOpen review with the final considerations regarding this popular CFDs broker. FXOpen stands out for its excellent range of trading accounts, suitable for all kinds of traders, and also for investors, via the FXOpen PAMM accounts. The highlight goes to the FXOpen ECN account, with competitive trading costs, especially for the currencies market.

The ECN trading environment offered by FXOpen merged with fast execution speeds provided to traders, allows for the best transaction costs. FXOpen clients are also allowed to hedge, scalp, use automated trading systems, swing or position trade, with no restrictions.

The other great feature of this broker is the offering of the Crypto account, a custom account for cryptocurrencies traders. Not only the available financial instruments range is one of the most extensive in this industry, but the Crypto account pricing is also one of the best.

BTC and LTC proved to have great potential for investment, and above all speculation, due to their high volatility and dramatic price moves. FXOpen allows investors to trade the most popular cryptos like Bitcoin and Litecoin against the US Dollar, Euro or Russian Ruble in the form of CFDs. FXOpen uses top Liquidity providers (Exchanges) to aggregate liquidity and hedge the risks of client's exposure, and the order execution is based on the ECN Aggregator.

With a low minimum deposit of just $10, the FXOpen Crypto account allows all of the popular forex trading styles, including scalping, hedging, all types of EAs and automated trading. The maximum available leverage of the Crypto account is 3:1

Overall, the competitive pricing of the FXOpen ECN account, together with the excellent range of financial instruments offered (especially cryptos), merged with a low initial deposit of $100 (for the ECN account), position this CFDs broker on the top 20 brokers for popularity with traders opening a trading account in 2021.

FXOpen User rating

4.1

FXOpen reviews by verified customers, cashback rebates, expert ratings, spreads & fees, leverage, demo accounts, downloads, trading platforms and more.

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FXOpen verified customers - with a live trading account - recommend the broker for its range of complete trading accounts, together with the low minimum deposits required to open a live account. Traders were also very pleased with FXOpen’s funding options, especially the electronic payments accepted and they had mixed opinions about the broker’s customer support service, some praising it, and others complaining about its efficiency. Also on a positive note, traders praised the broker for its low spreads of the ECN account.

Negatively, some FXOpen users complained about the broker's spreads for the Micro and STP accounts, stating they were slightly above industry average, especially during the Asia session when compared to other brokers.

Review sources

For more than 10 years we have been one of the leading IB brokers of forex and CFD trading accounts to virtually all of the world's top forex brokers. One of our primary goals is to help traders make informed decisions by publishing accurate and unbiased content, supported by primary sources.

These may include information supplied by the broker, government data, data available on the broker's corporate website(s), the analysis from our industry experts, and the opinions from verified traders with a live account. The information on the FXOpen review page was also sourced from:

Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Check the FXOpen website at www.fxopen.com for the percentage (%) of retail investor accounts losing money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.