The FXOpen office is engaged in criminal activities, taking away the invested capital of its clients. She describes excellent trading conditions that have nothing to do with reality. It is quite easy to expose such scammers. One has only to check their licenses and reputation on the Internet. Today’s review will help a novice trader avoid scammers and choose the right broker for long-term cooperation.
What features does the company talk about
FXOpen claims to have been providing brokerage services since 2005. The company calls itself one of the most successful and fastest growing players in the international market. Since its foundation, it has set itself one goal – to make trading conditions simpler and more convenient. The company strives to build trusting relationships with its clients by providing them with professional services. It was founded by traders, and therefore perfectly understands the needs of market players.
The company focuses on its rich practical experience, which is the key to successful trading. Professional traders are ready to share their accumulated knowledge with their clients, providing them with comprehensive support. An exchange intermediary creates all the conditions for effective work in global markets. FXOpen talks about the benefits that set it apart from most competitors:
- The company is a pioneer in digital currency trading. It allows you to use the popular crypto-coins bitcoin, litecoin and others.
- A market player can choose from a wide range of trading accounts.
- The lowest spreads in the industry are offered.
- The initial deposit is only $1.
- The maximum leverage reaches a ratio of 1:500.
- A wide range of secure deposit and withdrawal methods are available.
- Representations are available all over the world.
- A registered trader receives up-to-date economic reports, market analytics and a calendar of events.
- The client can view account status reports.
The company notes high liquidity, which was received from the largest supplying banks. Through cooperation with influential financial institutions, traders can trade large volumes at tight spreads. The broker guarantees the highest level of service, strict compliance with all trading conditions and reliability, which is provided by advanced technologies.
FXOpen business model
The brokerage project offers to work on ECN technology. This model provides instant access to the markets. Other traders, large funds and banks will act as counterparties. Programs for withdrawing transactions to international exchanges are based on an innovative technological solution. They allow you to use leverage and numerous analytical tools. An exchange intermediary specializes in providing institutional liquidity and flawless trade execution.
Maintaining privacy is a top priority for FXOpen Broker. It describes the reliable protection of confidential information about partners and customers. The company claims that ECN trading is great for investors and short-term traders. Transactions are executed according to the market, which guarantees a quick withdrawal of orders to the interbank market. The market player is warned that the price may differ slightly both up and down.
All participants of the brokerage system have equal rights. Their transactions are carried out in compliance with the principles of full transparency. The rules state that each client can act as a provider or consumer of liquidity. Using this business model, the company provides its customers with comfortable trading conditions. The trader can carry out transactions in automatic mode.
How is market trading going?
FXOpen calls itself one of the most successful and fastest growing brokers. It offers several accounts, each of which caters to the needs of a specific group of market players. A novice trader can use the Micro tariff. It does not provide for the payment of commissions, allows you to work with 28 currency pairs, gold and silver. The minimum deposit is 1 dollar.
Account “STP” expands the choice of currency pairs up to 50. It allows you to apply scalping and high-frequency trading. To start, you need to replenish the capital by 10 US dollars. The ECN tariff provides market spreads and commissions of $1.50. In addition to currency pairs and precious metals, a trader receives CFD contracts for various groups of financial instruments. Provides access to interbank liquidity. The company has developed a special account for cryptocurrency trading. Commissions are 0.5%, no spreads. $10 is enough to get started.
Trader Education Resources
There is an educational section on the official portal of the company. It contains general information about global markets and trading. The beginner will receive special knowledge that will help to draw up the right strategy of behavior. An economic calendar is available to predict price movements. Looking at information about upcoming events, a market player will be able to make a correct forecast. The “Resources” section also contains the latest news reports and analytical materials from experts.
What they say about FXOpen: a review of customer reviews
In the network you can find neutral comments about the trading activities of the project. At the same time, practicing traders note shortcomings in the working platform, impudent technical support. Brand representatives do not take responsibility for existing problems, they blame the bad provider.
Market players often write negative reviews about FXOpen. Fraudsters do not withdraw money by deceiving their customers. The office accepts money using the old passport, and requests a new one to make payments. Traders note that there are honest companies with better conditions on global exchanges.
Citizens of Ukraine have repeatedly had problems with obtaining funds. The exchange intermediary does not pay money for winning the contest. Some clients encountered difficulties even at the registration stage. Brand representatives can simply declare the document invalid.
International market participants note serious shortcomings in the FXOpen brokerage system. Reviews speak of rapid spread widening that hinders efficient trades.
What indicates FXOpen scam?
This office has a controversial reputation, and we do not recommend starting cooperation with it. First of all, she is often accused of refusing to pay. Smart managers come up with all sorts of reasons to leave money inside their own system. Among other things, the brokerage terminal shows freezing, spreads widen for no good reason. Judging by the numerous comments, trading activity in the FXOpen system does not bring the expected results.
