I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! There are frequently updated market news and analysis on the FXOpen website, which can be used to help identify trading opportunities. There is not currently a trader’s academy with educational materials, although they do have some guides related to platforms, accounts, and markets. Before I found FX Open, I had been with several brokers, but found that each one had something lacking. Their withdrawal system by instant bank transfer is particularly impressive.

User Experience

This is because they connect traders directly to liquidity providers. They have in the brokerage business for over 12 years and have expanded to different countries. They offer traders the opportunity to open accounts with affordable deposits through a wide range of deposit methods. They provide various account types with access to trade the most popular currency pairs, CFDs and cryptocurrencies.

What can you trade?

The ECN broker is authorised and regulated by the Financial Conduct Authority (FCA) in the UK. According to the broker’s website, all client deposits are in segregated accounts in Barclays Bank Plc or Lloyds Bank Plc in London. Besides, all retail clients of FXOpen UK are under the FSCS coverage with deposit protection of up to 85,000, if the broker fails. The liquidity is aggregated from the leading exchanges which hedges the potential risks for a client’s exposure. Most of the popular styles of Forex trading are catered for with the crypto account, such as scalping and hedging.

Monitoring of FXOpen's ECN account

There is a minimum deposit of £1 and the funds will process instantly. There are a few different e-wallet options, mainly Skrill and Neteller. Finally, there are some prepaid card options that can also be used. As the name suggests, FXOpen still mainly operates as a forex broker. This is still its main focus today, with many currency pairs being tradable, even pairs that include the likes of Bitcoin.

Is there a web trading platform available at FXOpen?

Many thanks for taking the time to leave a review, Nicholas, we're delighted you're pleased with how quickly Customer Support dealt with your query. Many thanks for taking the time to review FXOpen UK, we're delighted you're so happy with the service you receive. The FXOpen YouTube channel has a collection of brief educational videos covering basic themes like ‘what is leverage’. I was pleased to see some helpful platform-related videos covering topics like how to add an expert advisor (EA) to MetaTrader.

It does not have a slick interface and requires some time and effort to learn, but that is typical of advanced platforms. The TradingView platform offers one-click trading, trading from the chart, watchlists, market news, and trading ideas. In my experience, placing trades and managing open positions and pending orders from the platform is easy — this is a user-friendly platform.

1. While I find the look and feel of MT4 somewhat outdated, it is hard to beat when it comes to charting and technical analysis.
2. FXOpen offers the trading of forex, CFDs, cryptocurrencies, PAMM accounts and also has a social trading product.
3. It covers fundamental forex principles, such as currency pairs trading, currency fluctuations, leverage, and key terms like pips, lots, and spreads.
4. In accordance with local rules at its regulated branches, FXOpen does not offer any welcome bonuses.

There is also a selection of local bank transfer options which will vary depending on the region you are in. The low minimum deposit and unlimited demo account will serve beginners, while the VPS service and support for EAs will appeal to serious forex traders. The ECN account, in particular, stood out during our tests for its tight spreads and low commissions. We could trade the EUR/USD from 0.2 pips with a commission of $3.50 per lot, though this reduces based on your trading volume, coming in as low as $1.50, which will appeal to serious forex traders.

This can save you time, instead of having to reach out directly to the customer support team. There are also six different languages that the support team can cater to if you get in https://traderoom.info/fxopen-overview/ touch with them. The ECN account has raw spreads and there are commissions in place. You also have to consider the minimum required deposit of £100 and the lot size minimum of 0.1.

No longer provide practical deposits/withdrawals through bank accounts or debit cards for EU or UK. Only extremely complicated shitcoin transfers with huge conversion fees. Whilst primarily being a forex broker, FXOpen offer trading instruments in multiple markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs. However, I found them to be lacking in stocks when compared to competitors. For example, TMGM have a superb selection of more than 15,000 global stocks for you to trade, putting them amongst our best stock brokers. ZuluTrade is an automatic trading platform where you can get signals from other forex traders that you can copy to your trading account.

TradingView Desktop allows traders to set up and restore a multi-monitor workspace without any of the limitations of using browsers. Trading via the TradingView desktop platform is also faster than using a browser. Users can sync layouts, watchlists, and settings between the browser https://traderoom.info/ and desktop. The Web Terminal provides access to TickTrader from any computer connected to the internet. It has a more user-friendly interface and features charts from TradingView. The Web Terminal also incorporates popular features such as Level 2 market data and one-click trading.