FXOpen Review 2024 Pros, Cons & Safety Ratings

fxopen broker review

It is known for being user-friendly, fully customisable, and having a range of built-in trading tools to assist traders with their market analysis. The MetaTrader 5 platform is similar to the MetaTrader 4 platform, with some additional features for the more advanced traders. The platforms can be downloaded and used to trade on desktop, web, and mobile devices. This is probably one of my top features about this broker for beginners. However, if you are new to trading, then you might want to take a look at ActivTrades as they provide comprehensive market analysis and one on one training. FXOpen have a few useful trading tools that can help to improve trading efficiency.

A solid partner with great customer service

fxopen broker review

Thank you for taking the time to leave a review, we appreciate your feedback and are delighted you’re having a great experience. This virtual combining of the Master’s and Follower’s money enables all PAMM players to have the same trading circumstances. Followers gain from a Forex PAMM account because they may profit from Forex trading without having to do extensive market research, trade, or monitor positions themselves.

  1. There are 9 timeframes, over 30 indicators and graphical objects, plus thousands more available from the MetaTrader Market.
  2. These penalties are levied on accounts that have not executed trades during a specific timeframe.
  3. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry.
  4. Different regulators provide different levels of protection—for example, FXOpen clients in the United Kingdom benefit from the oversight of the FCA.
  5. Developed by MetaQuotes in 2005, MT4 has since been the leading trading platform and will usually be sufficient enough for most traders, regardless of your experience level.

FXOpen Main Features

This is one of the best financial services regulators in the world today. It also has licenses in many global markets, including in Australia and New Zealand. With FXOpen, you have access to the industry-standard MetaTrader 4 platform.

Opening account, verification and bank transfers

These types of awards showcase when a platform fulfills what it promises. Some of the awards FXOpen has won include being voted as the Best Islamic Broker, the Best ECN Forex Broker and Best South-East Asia Forex Broker. One of the more popular aspects of the  platform is the automated currency trading.

Great client support service

fxopen broker review

While the quality of the existing content is good, I rate the available educational materials as relatively meagre compared to the industry average. In my view, for serious traders, the ECN model offered by FXOpen is clearly preferable to the market maker model (where the broker is the counterparty to your trades). Liquidity is aggregated from different trading venues such as https://traderoom.info/fxopen-overview/ Integral, Hotspot, Currenex, TrueFX, and LMAX Exchange. Banks like Swissquote, other brokers, and proprietary market makers are also among the liquidity providers. TradingView Desktop allows traders to set up and restore a multi-monitor workspace without any of the limitations of using browsers. Trading via the TradingView desktop platform is also faster than using a browser.