Review of FXOpen
Founded in 2003 as a technical analysis center, FXOpen launched its brokerage services in 2005. Since then, they are a pioneer with micro-projects and Sharia-compatible accounts. Before building its own ECN bridge technology on the MetaTrader platform, they became very familiar.
After launching the STP account offer in 2013, FXOpen achieved a monthly trading volume of USD 100 billion. Since then, they continued to operate mainly as a MetaTrader broker. FXOpen gained regulatory status in the British FCA, and in Australia. They also have an unregulated entity in Nevis, which maintains membership in the external dispute organization (EDR).
FXOpen provides investment accounts for PAMM account investors, in addition to various account types, including STP, ECN, Micro and Crypto transaction accounts. They provide access to 50 currency pairs and almost two dozen CFDs, as well as some of the most popular crypto accounts in its MetaTrader4 and MetaTrader5 platforms.
Depending on the type of account chosen - like ECN and STP to Micro, FXOpen provides different pricing choices for its commissions and fees. But the average spreads published by FXOpen was not available for order to compare the level with other brokers.
The team of analysts cooperates with the FXOpen blog through daily updates. They analyze regarding Forex, CFD contracts, and cryptocurrencies as well as content that is the industry standard for most brokers. This system also offers an economic calendar. The calendar shows the forecast of upcoming events with an agreement estimate, as well as market updates. Both statics are supported by FXStreet - on the UK, Australia, and Nevis websites.
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The broker is carefully regulated in Australia and the UK by the strictest ASIC and FCA regulators. This guarantees the security of working with FXOpen. FXOpen also has a lot of positive reviews on Google Play and App Store. Users are satisfied with the convenience and benefits of working on trading platforms and praise the user-friendly and simple interface. At the same time, some comments show that the broker still has room for improvement.