FXOpen MT4 Broker Review | Trade Forex Online

FXOpen Pro Review | Trade MT4 Online FXopen Review | FXopen MT4 Broker

FX Open MT4 Broker Review

We will explain why FXopen MT4 Forex Broker is one of the Best brokers in the world for trading  Currencies and why when you plan to trade financial Instruments they should be among the brokers you will consider

FXOpen MT4 Offering Broker | FXopen was originally not launched as a brokerage but as a financial trading education centre in Egypt. Then in 2005, they made the decision to become a full-service forex broker for the retail traders’ industry. Coming from the education aspect of trading they were very much aware of what was lacking at that time in the forex market and with most of the brokers. aiming for clarity and transparency FXopen has a clear mission and the financial means to realize it.

The second part of their mission statement was innovation and implementation for new technologies that should provide the traders with even better tools. Keep in mind this was in the early days of forex trading online.

A broker could at that time still distinguish themselves from others with what technologies there were offering.

For example, the introduction of the popular ECN MT4 platform revolutionizing the trader’s industry as retail traders for the first time could access inter-bank rates directly, this helped them to lower their trading costs significantly.

FXOpen is regulated by the FCA and regulations under license number FRN: 579202 in the UK. Besides the British regulation

FXopen is also active in Australia under the brand name FXOpen AU Pty Ltd, which is regulated by the Australian Securities and Investment Commission better known as ASIC.

The fact that has maintained these very restricted licenses shows that FX Open is prepared to take its client activities on their platform very seriously.

The good thing about the British license over for example the Cysec one from Cyprus is that regardless of whether or not you are a citizen in the UK, funding your account with the brokerage that holds the license will always come with insurance of £50,000. This prevents a customer from incurring losses up to that amount in case the broker goes bankrupt

FXopen Features

FXOpen MT4 Forex Broker offers the full-service MetaTrader 4  regular and ECN

MT4 is ideal for traders of all levels because it is highly customizable, has the latest in technology implemented, easily integrated with EA ( expert advisors) and last but not least, it offers fast execution in the market.

In addition to the download version,  FXOpen offers also the popular MT4 WebTrader which allows traders to trade like on most other web-based trading platforms without having to download the software on their PC.

This is a browser-based and is very convenient and easy for those who trade on the while moving around. Thou most people today have laptops there are still enough traders that have a stationary cGalore Pro Review | Trade MT4 Onlineomputer at home that simply cannot be dragged around everywhere.

I have to say thou that time has caught up somewhat with the web-based trading platforms as most people twill use the mobile applications that offer the same trading options and FXopen also provides a trader with this solution.

They have MT4 mobile app for Android, iOS and tablets in general.

The MT4 mobile app is a fully-fledged MT4 platform which houses all features you require to trade as you would on your home-station

What account types does FXopen offer?

FXOpen offers various accounts for clients in order to cater to traders of different levels and traders that have different requirements these are the accounts:

FXopen MT4 Trading Account

This account is especially for you actually as it is made for traders that look to trade currencies and cryptocurrencies like Bitcoin, Litecoin, and Peercoin.

Because of the the high volatility and dramatic price moves Crypto-currency has shown its great potential as an investment instrument,

The Minimum deposit for a Crypto account at FXOpen is only$10 so it is easy and cheap to start. Commission is 0.25% half-turn. You can find all the details below

Minimum transaction size is 0.01 lot and there is no upper limit. Scalping, hedging, phone dealing, news trading is all permitted.

FXopen MT4 ECN Trading Account

A trader has under this account direct access to the market which is moved by the banks, centralized exchanges, companies, open brokers and other players.

The benefits of ECN accounts are :

• best execution,
• Lowest spreads.( from 0 pip, a minimum investment of $100, minimum lot size of 0.01 and 1.5USD commission per lot traded)
• no dealing desk the broker won’t trade against you (hedge your account).

FXopen STP Trading account

With this FXOpen account, you get to enjoy all the benefits of an ECN account but with a minimum deposit of $10 only.

Like ECN account, this account offers a wide range of tradable financial instruments

The account does not restrict the use of automated trading, EAs, or strategies such as scalping, hedging etc.

The minimum lot size that you can trade is 0.01. Finally, this account does not charge commissions, and there is no maximum balance requirement.

FXopen Micro Trading Account

This is for people that really want to start with the lowest amount possible. As account lets you start trading with as little as $1.

As a trader, you should not expect to make any money on this account but in general, it is very useful for beginners and for experienced traders that want to test an EA or forex Signals or any other system where they have to trade with real money but do not want to commit to higher amounts

All strategies are allowed and there are no commissions with this account, The smallest transaction that can be traded is 0.1 micro lots..

FXopen CFD Trading Account

Also, more and more people start trading commodities as the market is easier to understand. Indices, trade oil, natural gas and metal are traded on the ECN trading environment the same as the currencies so for many this is a very small step.

FXopen Demo Trading account

If you want to learn how to trade or just want to see how the MT4 of FX open is working the Demo account gives you this opportunity. FXopen MT4 Forex Trading can this way be practised without any risk of losses.

FXOpen offers demo trading for all account types.

Spread and commission

Commissions are depending on the account type you selected. FXOpen offers floating spreads for all account types.

FXopen MT4 Forex Broker Customer support

The FXOpen support department is available 24/5. this is not around the clock and since now cryptocurrencies might be traded also during the weekends on some brokers we might see a change in this, for the moment they will be there by Mail, chat or phone from Monday till Friday

FXopen MT4 Forex Broker Details

Main competitors

LegacyFX | XM.com | FP Markets | XTB | FX Open | Markets | Profit Trade |  FXTM |  HYCM