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The addition of the new brokers to the market has made it pretty difficult for the new traders to choose the right and trusted broker. This broker review is going to talk about important things that concern an investor or the trader. Despite offering the long-range of instruments like 50 currency pairs, CFD, indices, gold and silver, 43 pairs with BTC, LTC, EOS, PTC, ETH, DASH, EMC and trading options, it is totally up to you if the trades generate profit or loss. Although FXOpen resources and tutorials can be pretty useful yet your personal research matters the most. You also need to take notice of all FXOpen trading platform issues for a better experience.
Generally, traders solely rely on fxopen.com insights and predictions and that is the worst mistake. Trading is a complicated niche and requires a deep understanding of different trading options. The FXOpen trading options are great as compared to some of the other brokers in the market but still, the trading requirements are much easier for some other brokers too.
FXOpen Review Summary
It is an online brokerage and the trading platform is very simple and easy to understand and is locate at Australia, United Kingdom, Saint Kitts and Nevis. The FXOpen asset trading platform has all the essential features of any good broker. However, the company boasts about its exceptional and strategic FXOpen trading services, which can be great for the traders. The tutorials and insights that are made available through the broker are indeed helpful but should be used by only traders who have a deep understanding of different trading instruments. If you wish to make profits with one of these precious options, you must know how it works professionally. In case the investors want to visit the headquarters, they can also see the company in action at P.O. Box 590, Springates East, Government Road, Charlestown, Nevis.
FXOpen License and Legal Status
Every broker that can freely operate in the market needs a brokerage license from the relevant authorities and the financial sectors. If the broker is operating without a verified license, it is probably there to scam the users. FXOpen regulations prove that the trading company has a valid license from the authorities for both local and international clientele. The legality of the broker’s license can be verified by using our services and the fund recovery specialists can help you to investigate the office at P.O. Box 590, Springates East, Government Road, Charlestown, Nevisand legal status in any country too.
FXOpen Deposit Fees
Before making any investment or trade, you are required to register with the broker. There are four different broker account types available on their website. The four FXOpen trading accounts have different deposit requirements and fees:
Basic Account – You must deposit a minimum 0.1 micro lot, 0.01 lot for all other accounts and must have at least one active trade every six months.
Standard Account – You must deposit a minimum of a few hundred dollars and must have traded at least three times in the last six months.
Active Trader Account – You can deposit as much as you like and earn the trading bonus with no limit to your trading volume. The 1:3 (Crypto), 1:500 (Micro, STP, ECN) also makes this broker an attraction for the traders.
Pro Trader Account – It is recommended for those who want to earn more money on their trading activities by not following any restrictions or limits imposed by the broker itself. The spread of Floating spread from 0 pips might be different in every account type so beware of that fact.
Ease of Trading with this Broker
The FXOpen platform is very simple to understand and follow. There are plenty of video tutorials and insights about the different trading instruments that you can easily access for free. All of this helps you make better decisions about your trade, limit your losses and maximize the profits at the end of each day.
To sign up with the broker, you will need to establish a client ID which must be unique for every new account sign-up. You must have a unique client ID before making any investment in any investment broker’s platform as it will help you keep all the details private for your security reasons.
Trading Tools for Analysis
FXOpen trading tools section highlights that the FXOpen trading platform offers important tools for analysis. Such tools can be useful for any trader or investor and it is no surprise that all the new brokerages tout this as a differentiating selling point. Effective margin level of from 20% / from 10% also keeps you away from being bankrupt.
Statistics, which are easily accessible on the platform, are very helpful in making accurate decisions about your trades every day. Some of these include the total value of your trade history; all your trades including the profit/loss details; the daily average value and some of the other details based on their proprietary algorithm that can be used to predict any future trend in the market.
In case you fail to get the response by the broker via email, you can call the customer support at Phone: +64-9-801-0123, +49-693-329-6294, +33-979-998-040, +7-499-346-0960 to get quick help.