On-line since: About the company: FXOpen Company was established in 2003 as an educational project, offering team and individual lessons on technical analysis at the securities and Forex market. The Company offers dealing services since 2005. Since the beginning of 2009 FXOpen provides for its clients trading via the Electronic Communications Network (ECN) with a direct execution of orders on the basis of MetaTrader 4 terminal, moreover, the Broker also offers swap-free accounts.
4/10
(votes 1775)
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The Spreads are always close to Zero and never seen any fluctuation in the rates.
I am using the ECN based trading account for all my Trades.
I started trading with FXOpen a month ago and I find that they are not to trusted broker. Their trading conditions is not trader friendly and their trading terminal is hard to utilize. Their deposits and withdrawals are super slow It seems that t FXOpen broker did not want me to make more money with them.
Take very long time to reply an email. Withdrawal also take few weeks. Live chat also so suck. Always no respond. If your scalping, then this broker is not good for you. For instance, open all the currency pair, after 4 hours go back to the platform you will find out that the trends are still in the same position and no movement. Today I tried to close some orders in profit, but the execution was delayed and closed only when the orders were losing, after this, I withdrawn immediately all my money. You can hardly make profit. They trade against you on many occasions. They liquidate your SL at will but your TP will hardly be taken.
I say FXOpen broker isn't safe for traders. As I have observed, they increase the spread gradually in the high volatility market and my orders stop out due to margin calls. They increased the spread without any cause. Also, I have faced huge slippage issues on the platform too. I have failed many times to withdraw my profit via Bank transfer. So I warn another trader that please justify FXOpen broker in a demo account.
FXOpen contacted me and tried to persuade me to open an account with them. Their offers were attractive but I found out that their license was terminated. This means that they did something that is against the protocols of the regulator. Hence, I decided to stay away from it.
There are many reasons why I always warned every traders not to open an account with them. One is they never replied e-mails. The connection and execution is terrible, I have been stopped out of trades prematurely numerous times with no compensation offered by FX open. Auto updates on the MT4/Meta quotes platform cut me from three swing trades only yesterday, after a call to Fx open they tell me this sort of error happens occasionally. This is so unnatural to me. I'm not used to this kind of uncertainty, and I don't like a very late response. Not informative from the start. They should be more open about what happened, so it would be easier to deal with bad odds.
It's almost two weeks since I tried to withdraw my profit but I never heard any word from them. hey have a very lousy service. Everything in their website and system doesn't work satisfactorily. First of all, compared with other brokers, I think that their trading cost is a lot higher.
I put my first deposit of $100, I lost because of poor internet conditions. Trading twice, my deposit was $ 250, and with the same mistake, I lost again and lost $ 200. I feel a strange thing. I will not resume trading with FX Open. Enough 2 times suffered losses. Continuously I have been losing my money for bad service, So OctaFX didn't suit with my trading strategy. I say FX Open didn't care me as well.
I have been encountering problems with my platform since two months ago. Trading with FXOpen has always been smooth that is why I don't understand why it suddenly changed. Their platform used to be very stable but now, orders are no longer executed well and the platform itself often crashes. Even during a calm market condition, it does not perform well. I already complained about this to the broker but they don't seem to be bothered by it.
Trading with Forex Mart is easy, but they still need to fix some bugs with the platform which sometimes has delays. I am a client for the past 10 months and I trade with a standard account currency pairs EUR/USD, USD/CAD, USD/JPY. I have average profit of $400 a month. I had negative slippage two times which I lost $100 , but still the broker is honest regarding their commissions.
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