FXopen is a reputable broker offering ECN and STP trading accounts with competitive pricing and excellent customer support.
FXopen is a well-established online broker that provides traders with a range of financial instruments to trade, including forex, CFDs, and cryptocurrencies. With two account types to choose from, competitive pricing, and excellent customer support, FXopen is a reliable option for traders of all levels.
FXopen is a reputable broker that has been serving traders since 2005. The broker offers two types of accounts – ECN and STP – to cater to the different trading needs of its clients. The ECN account is designed for traders who require market execution and direct access to liquidity providers, while the STP account is suitable for traders who prefer the traditional STP model. Both accounts have reasonable minimum deposit requirements and offer competitive pricing.
In addition to forex trading, FXopen provides access to a wide range of financial instruments, including CFDs on shares, metals, energies, and indices. The broker also supports trading in cryptocurrencies, making it an attractive option for traders interested in this emerging asset class.
FXopen provides traders with a range of trading platforms to choose from, including the popular MT4 and MT5 platforms, as well as the web-based MetaTrader WebTrader platform. The broker also offers traders additional features such as hedging, Expert Advisors, scalping, news trading, and market depth with Level 2 quotes.
With excellent customer support and a range of trading platforms and features, FXopen is an excellent choice for both novice and experienced traders alike.
Yes, FXopen offers a demo account that traders can use to practice their trading strategies and get familiar with the trading platforms and tools. The demo account is a great way to test the broker’s services and trading conditions before committing to a live account.
After creating an account, you can create whatever account type (Demo, STN, ECN) you need.
FXopen offers a range of trading platforms, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, as well as the MetaTrader WebTrader platform. These platforms are widely recognized as some of the most advanced and user-friendly platforms available, offering a range of features and tools to help traders make informed trading decisions.
FXopen has a minimum deposit requirement of €300 or $300 for both the ECN and STP account types. This is a reasonable amount that is accessible to most traders, and it is also in line with industry standards. However, it is worth noting that you may need to deposit more than the minimum amount in order to fully take advantage of the trading opportunities available.
FXopen is an online forex broker that provides traders with access to the global financial markets. The company has been in operation since 2005 and has its headquarters in the Republic of Mauritius. FXopen is a registered broker and is licensed by the Financial Services Commission of Mauritius (FSC).
This review will take a closer look at the features of FXopen, including the types of trading accounts it offers, the available instruments, trading platforms, customer support, and other essential details.
FXopen offers two types of trading accounts, the ECN account, and the STP account. These accounts differ in terms of the business model, spreads, commission, and execution.
The ECN account is an Electronic Communication Network account that provides direct market access to liquidity providers. The ECN account is designed for professional traders and requires a minimum deposit of €300 or $300. The account currency is available in EUR and USD.
The ECN account offers floating spreads, starting from 0 pips, and a commission from $1.50 per lot. The quotes format is 0.12345, and the execution is market-based. Requotes and slippages may occur, but they are minimal. The ECN account offers a minimum transaction size of 0.01 lots, with no limit on the maximum transaction size. The margin call and stop out levels are set at 100% and 50%, respectively. The leverage is up to 1:30.
The STP account, on the other hand, is a Straight Through Processing account that uses a no-dealing desk model. The STP account is designed for both beginners and experienced traders and requires a minimum deposit of €300 or $300. The account currency is available in EUR and USD.
The STP account offers floating spreads, with no commission charged. The quotes format is 0.12345, and the execution is market-based. Requotes and slippages may occur, but they are minimal. The STP account offers a minimum transaction size of 0.01 lots, with no limit on the maximum transaction size. The margin call and stop out levels are set at 100% and 50%, respectively. The leverage is up to 1:30.
| Account Type | ECN | STP |
| Account Currency | EUR, USD | EUR, USD |
| Business Model | ECN* | STP |
| Minimum deposit | €300, $300 | €300, $300 |
| Maximum balance | No Limit | No Limit |
| Spread | floating, from 0 pips | floating |
| Commission (per 1 lot) | from $1.50 | No |
| Quotes format | 0.12345 | 0.12345 |
| Execution | market | market |
| Requotes/Slippage | No / Yes | No / Yes |
| Minimum transaction size | 0.01 lot | 0.01 lot |
| Maximum transaction size | not limited** | not limited** |
| Minimal increment | 0.01 lot | 0.01 lot |
| Leverage | up to 1:30 | up to 1:30 |
| Margin call | 100% | 100% |
| Stop Out | 50% | 50% |
| Demo accounts | Yes | Yes |
| Instruments | Currencies, Cryptocurrency CFDs, Shares CFDs, Metal CFDs, Energy CFDs, Index CFDs | Currencies, Metal CFDs |
| Hedging | Yes | Yes |
| Expert Advisors | Yes | Yes |
| Scalping | Yes | Yes |
| News trading | Yes | Yes |
| Phone dealing | Yes | Yes |
| Market depth with level 2 quotes | Yes | Yes |
| Trading time | 00:00 Mon – 00:00 Sat (Cyprus time), 24/7 for Cryptocurrency CFDs | 00:00 Mon – 00:00 Sat (Cyprus time) |
| Visit FXOpen Website | Visit FXOpen Website |
Note: *ECN stands for Electronic Communication Network. **Subject to available liquidity.
FXopen offers traders a wide range of trading instruments to choose from. These include currency pairs, cryptocurrency CFDs, shares CFDs, metal CFDs, energy CFDs, and index CFDs.
FXopen provides traders with access to over 50 currency pairs, including the majors, minors, and exotic pairs. The spreads on currency pairs are competitive, starting from 0 pips on the ECN account.
FXopen offers traders access to 34 cryptocurrency CFDs, including Bitcoin, Ethereum, Litecoin, and Ripple. The spreads on cryptocurrency CFDs are competitive, starting from 0 pips on the ECN account.
FXopen provides traders with access to over 50 shares CFDs, including some of the world’s leading companies, such as Apple, Amazon, and Facebook. The spreads on shares CFDs are competitive, starting from 0.1 pips on the ECN account.
FXopen offers traders access to four metal CFDs, including Gold, Silver, Platinum, and Palladium. The spreads on metal CFDs are competitive, starting from 0 pips on the ECN account.
FXopen provides traders with access to two energy CFDs, including Crude Oil and Natural Gas. The spreads on energy CFD are competitive, starting from 0.5 pips on the ECN account.
FXopen offers traders access to 10 index CFDs, including the S&P 500, NASDAQ 100, and the UK 100. The spreads on index CFDs are competitive, starting from 0.5 pips on the ECN account.
FXopen offers a range of trading platforms for traders to choose from. These include the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, as well as the web-based MetaTrader WebTrader platform.
MT4 is a popular trading platform among forex traders, and FXopen provides traders with access to the platform. MT4 is user-friendly and easy to navigate, with advanced charting tools, technical indicators, and automated trading features.
MT5 is an advanced trading platform that offers traders more features than MT4. MT5 has a built-in economic calendar, a depth of market (DOM) feature, and a multi-currency strategy tester. Traders can also use the platform to trade multiple asset classes, including forex, stocks, and futures.
The MetaTrader WebTrader platform is a web-based trading platform that allows traders to access their trading accounts from any web browser. The platform is easy to use and provides traders with access to advanced charting tools, technical indicators, and automated trading features.
Customer Support
FXopen provides customer support to its clients via email, live chat, and phone. The support team is available 24/5 and is responsive and helpful. Traders can also access the broker’s extensive knowledge base, which includes a range of educational materials, such as video tutorials, webinars, and trading guides.
FXopen allows traders to hedge their positions, which means they can hold both long and short positions on the same instrument at the same time. Hedging can be useful for managing risk, as it can help traders protect their positions against adverse market movements.
FXopen allows traders to use Expert Advisors (EAs), which are automated trading programs that execute trades based on pre-set rules. EAs can be useful for traders who want to automate their trading strategies and save time.
FXopen allows scalping, which is a trading strategy that involves taking advantage of small price movements in the market. Scalping can be a profitable strategy, but it requires discipline and a high level of skill.
FXopen allows traders to trade the news, which is a strategy that involves trading based on the release of economic data and news events. News trading can be a profitable strategy, but it requires traders to be quick to react and to have a good understanding of market fundamentals.
FXopen allows traders to place trades over the phone, which can be useful for traders who prefer to speak to a live person when placing trades.
FXopen provides traders with access to market depth with Level 2 quotes, which is a feature that displays the order book for a particular instrument. This feature can be useful for traders who want to see the market depth and the liquidity available for a particular instrument.
FXopen is a reputable forex broker that provides traders with access to a wide range of trading instruments, competitive spreads, and a range of trading platforms. The broker offers two types of trading accounts, the ECN account, and the STP account, which cater to the different needs and preferences of traders. Both accounts have reasonable minimum deposit requirements, and traders can choose between the popular MT4 and MT5 trading platforms or the web-based MetaTrader WebTrader platform.
FXopen also offers traders additional features such as hedging, Expert Advisors, scalping, news trading, and market depth with Level 2 quotes. These features can be useful for traders who want to customize their trading strategies and manage their risk more effectively.
Overall, FXopen is a broker that is worth considering for traders who are looking for a reliable and trustworthy broker to trade forex and other financial instruments. With its competitive pricing, excellent customer support, and a range of trading platforms and features, FXopen is an excellent choice for both novice and experienced traders alike.
Competitive pricing
FXopen offers some of the most competitive pricing in the industry, with low spreads and commissions.
Wide range of financial instruments
Trade forex, CFDs, and cryptocurrencies with access to a variety of financial instruments.
Expert Advisors
Use Expert Advisors to automate your trading strategy and improve your trading efficiency.
| Feature | Description |
| Account Types | FXopen offers two account types, ECN and STP, with a minimum deposit requirement of €300 or $300 for both. |
| Business Model | ECN business model for ECN account type, STP business model for STP account type. |
| Maximum Balance | There is no limit on the maximum balance that can be held in either account type. |
| Spread | Floating spread for both account types, with the ECN account offering spreads from 0 pips. |
| Commission | The ECN account charges a commission of from $1.50 per lot traded, while there is no commission charged for the STP account. |
| Quotes Format | Both account types use a 0.12345 quote format. |
| Execution | Both account types use market execution. |
| Requotes/Slippage | Both account types can experience slippage, but requotes are not typically an issue. |
| Minimum Transaction Size | The minimum transaction size for both account types is 0.01 lot. |
| Maximum Transaction Size | There is no limit on the maximum transaction size for either account type, subject to available liquidity. |
| Minimal Increment | The minimal increment for both account types is 0.01 lot. |
| Leverage | Up to 1:30 leverage is available for both account types. |
| Margin Call | A margin call occurs at 100% margin level for both account types. |
| Stop Out | A stop out occurs at 50% margin level for both account types. |
| Demo Accounts | Both account types are available in demo format for traders to practice their trading strategies. |
| Instruments | A range of instruments is available for trading, including forex, CFDs on shares, metals, energies, indices, and cryptocurrencies. |
| Hedging | Hedging is permitted for both account types. |
| Expert Advisors | Expert Advisors can be used with both account types. |
| Scalping | Scalping is permitted with both account types. |
| News Trading | News trading is permitted with both account types. |
| Phone Dealing | Phone dealing is available for both account types. |
| Market Depth with Level 2 Quotes | Market depth with Level 2 quotes is available for both account types. |
| Trading Time | Trading is available 24/5, with the exception of cryptocurrency CFDs, which can be traded 24/7. |
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Risk warning: Trading Forex (foreign exchange) or CFDs (contracts for difference) on margin carries a high level of risk and may not be suitable for all investors. There is a possibility that you may sustain a loss equal to or greater than your entire investment. Therefore, you should not invest or risk money that you cannot afford to lose.
The content of this website must not be construed as personal advice. We recommend that you seek advice from an independent financial advisor.