FXOpen Review - ✅ 100% Legit Broker May 2024

Ratings and Reputation

FXOpen earns a 3.5 out 5 star user rating based on key service factors. On TrustPilot with over 200 reviews, FXOpen has a 4.3 out of 5 star rating, indicating positive feedback. As a member of The Financial Commission, FXOpen provides an added trust layer through regulation, compliance and dispute resolution.

Trading Offerings

FXOpen offers forex trading on all major, minor and exotic currency pairs with average spreads down to 0.3 pips on EUR/USD for active traders. Other tradable instruments include global stock indices like S&P 500, commodities like gold and oil, and 15 top cryptocurrency coins through CFDs. Though direct equities and crypto trading is currently unavailable. Traders can access up to 1:1000 leverage on certain contracts.

Fees and Commissions

FXOpen has a $100 minimum deposit requirement with tight spreads averaging 0.3 pips on EUR/USD for high volume traders along with discounted commissions. Multiple account bases are available including ECN and STP enabling direct market access. Funding options comprise of Visa/Mastercard credit cards, Skrill, Neteller, UnionPay and wire transfers.

Trading Platforms

FXOpen offers two popular third party platforms in MetaTrader 4 and MetaTrader 5 for forex and CFD traders. These platforms enable advanced charting, technical analysis, EA integration, trading robots, backtesting capabilities and more. DupliTrade's social trading network provides guided trading options. Platforms run as desktop applications with web browser access as well and are available across Windows and Mac operating systems.

Research and Analysis

FXOpen provides traders daily commentary from in-house experts, streaming news from top tier providers like DowJones, BreakingTheNews and LMAX Exchange, economic data through calendars tracking high impact events, and an integrated dictionary for financial terms. Client sentiment analytics provide position bias analytics. For technical analysis, over 30 indicators are available within charting packages.

Regulation and Safety

With registration and authorization from leading regulators like ASIC (Australia), FCA (UK) and CySEC (EU), FXOpen maintains trusted operational standards. Further, member status at The Financial Commission provides an added compliance and dispute resolution safety net for traders. Negative balance protection, fund segregation, registration audits and encrypted data protocols ensure trader protection.

Pros of FXOpen

• Trust built through tier-1 regulation and third-party validation
• Direct market access available through ECN infrastructure
• Access to MetaTrader platform ecosystem and friendly fees
• Focus on transparency through multiple disclosures
• Comprehensive client support with multiple contact options
• Educational suite helps beginner traders learn the basics

Cons

• Mobile trading lacks some charting features from desktop
• Limited exposure to only forex and CFD instruments
• Proprietary trading platform missing for unified experience
• Social trading requires minimum equity balances
• Partial inactivity charges seem restrictive

Final Words

For traders seeking regulated access to forex and CFD markets, FXOpen delivers on essential pillars like fair pricing, platform stability and dedicated support. Though FXOpen trails industry leaders on breadth of product lines, brand visibility and proprietary technology, its reliability echoes through two decades of client service. As the brokerage expands into new regions and product verticals, maturing proprietary capabilities and addressing identified gaps will further aid its value. Overall, FXOpen has secured its niche as a trusted destination for forex and CFD traders worldwide.

FXOpen Details

Primary Category	Forex
Secondary Category	CFD Trading
Website	https://fxopen.com/
Affiliate Program	Available
Monthly visits	240K

Screenshot of FXOpen