Review Of FXOpen.com

Editor’s Rating: 4.5/5
reviewed October 27, 2014

FXOpen.com is one of the first Forex trading platforms on the Internet and is actually responsible for the inception of one of the most prominent trading platforms around. The micro account can be opened with as little as $1, making trading available and affordable to all peoples the world over.

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About FXOpen

The emergence of the tech boom over the last couple decades has really helped many different business and industries thrive and take off. One such industry that is really starting to come to the forefront is Forex trading. A trading site in this category is FXOpen.com. Established in 2003, FXOpen operates out of Cairo, Egypt and offers:

  • Top trading environments
  • All-access accounts
  • Flexible trading options
  • Attractive promotions
FXOpen.com - Online Forex and currency trading platform

FXOpen.com was one of the first Forex trading platforms on the Internet and actually was responsible for the inception of one of the most prominent trading platforms around. In 2009, it introduced MT4 ECN to provide Meta Trader platform to deliver superfluous to ECN market, being the first one in the history of trading.

Living up to its name, FXOpen is a brokerage that is open to all. The micro account can be opened with as little as $1, making trading available and affordable to all peoples the world over. Because of this low minimum deposit, FXOpen has clients from all corners of the globe. FXOpen is an established broker in the country of Mauritius, and as such is regulated by the Financial Services Commission of the Republic of Mauritius.

FXOpen.com - Online Forex and currency trading platform

From inception, FXOpen, has been one of the foremost trading service for Islamic traders with Sharia compliant swap free accounts being provided to give Muslims the same opportunity as is offered to clients worldwide. As a company with a global vision, FXOpen has been and always will be a company that tries to understand the different needs of traders from all cultures and beliefs. Touted as one of the leaders in the industry and as such a longstanding player in the Forex trading space, let’s take time to delve into some of the top features that makes FXOpen.com worth checking out!

FXOpen.com - Online Forex and currency trading platform

Top Features Of FXOpen

Arriving on the landing page of FXOpen.com might leave a person a little overwhelmed. The layout of the site is quite busy, with tons of text and scrolling tickers everywhere. The colors of the site are also quite busy, so it’s hard to fully concentrate on any particular section of the site. However, the main goal of FXOpen is to get people to sign up for an account and start trading. It doesn’t look like it’s too difficult to start trading.

FXOpen.com - Online Forex and currency trading platform

In addition to a tutorial that goes over how to trade, there are buttons that you can click on to easily sign up. There are multiple trading options to choose from upon making the decision to open an account with FXOpen. This can get a little cumbersome and overwhelming, but the site does a nice job of providing thorough information about the benefits of each option.

FXOpen is also optimized with MetaTrader. MetaTrader raised area is the utmost chosen in the world for its effortlessness and suitability for consumers. It’s present in newest version with all the required features and possibilities for popular trading. Inverters can keep operational using PDA or Smart Phone – company offersMT4stages for all types of devices.

FXOpen.com - Online Forex and currency trading platform

FXOpen also provides free android applications of mobile and tablet users. Trading via internet. With this service, users are able to be provided with real-time Forex data, including pricing and charts, for all the new and existing FXOpen customers. With that the consumer can excess to latest economic and financial news, currency rates, access charts and market analysis online.

FXOpen.com - Online Forex and currency trading platform

Moreover, the company is aware of ever fluctuating world and keeps on advancing with the ever changing technologies.

FXOpen Prices

Opening an account at FxOpen is simple as you can create only one eWallet account and create multiple sub accounts. This ensures that you do not need to have multiple login and passwords to login to FxOpen’s web interface. Below is the table that gives a brief comparison of the different account types at FxOpen.

FXOpen.com - Online Forex and currency trading platform

FxOpen offers an easy to use approach towards PAMM forex accounts. Traders can sign up either as an investor or as a money manager and get started within minutes. The PAMM forex accounts from FxOpen works on the ECN model. There is also quite the large gap in a monetary investment. You can put a minimum deposit of $1 down and invest in as high as $1,000. This makes the trading a viable option on any person’s budget.

As a potential investor, FxOpen’s PAMM section offers a leaderboard of the top 10 PAMM fund managers with details such as the Total and Daily gain. Investors can click on a PAMM account of their choice to drill down into further data such as average daily profit/loss, recovery factor and so on.

FXOpen.com - Online Forex and currency trading platform

Criticism Of FXOpen

FXOpen.com - Online Forex and currency trading platform

Overall there are many positives to using the FXOpen site. That said, nothing is perfect and as such there are certain areas that need to be worked on. One negative aspect has to do with how accounts operate and the accessibility. In case your real account was inactive for 3 months (no trades opened) it will be temporally “frozen” and you will be able to restore it anytime you need by simple request to finance department. Your LIVE account will never be inactivated in case you make at least 1 trade during 3 month or if you have any opened trades.

The site has also been criticized for being too hard to read and designed poorly. This is not too hard to understand since there really is a lot to take in on the website. The site is especially hard to read for a typically person, let alone someone who has a hard time focusing.

Customer Support

The team at FXOpen really cares about making sure the experience of using the trading platform is as simple as possible. As such, the company has invested in a good number of customer representatives that are there to serve. FXOpen has various kinds of customer service. You will notice this right away, as there is an exhaustive amount of education available on their site. There is a FAQs section that can be easily accessed for anyone who wants a quick answer and doesn’t feel like talking with a representative.

FXOpen.com - Online Forex and currency trading platform

However, since human interaction is always preferred, if you can’t find what you are looking for in the FAQs section then you can reach out directly to the FXOpen customer service team. In the more traditional customer service sense, FXOpen shines as it has a phone number, e-mail and live chat options, which is manned 24/7. Response times are generally quite good, with the average response time of 24 hours.

Conclusion

FXOpen.com - Online Forex and currency trading platform

FXOpen is an extremely flexible broker that allows everyone the chance to trade. With accounts opening with as little as $1, everyone can use them. Using that small deposit ability, FXOpen is a great broker because it allows people to “try them out” before committing a serious amount of capital. Although the site may be a bit much to take in upon first arrival, especially for a beginner, FXOpen is really a fairly easy trading platform to manage once you are logged in.

FXOpen, with its extensive global reach, wide range of services, strong growth and experienced team of professionals, is your best traveling partner along the road to success. So don’t wait any longer. If you are interested in getting in on the Forex trading market and are ready to make some money, then start creating an account on FXOpen.com. It’s easy to sign up and get started and you can start with such a small investment. You’ve got nothing to lose!

FXOpen.com - Online Forex and currency trading platform
Review Of FXOpen.com
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