FXOpen

Added on January 18, 2012 05:52 AM
(4 / 5)
Spread: 2.0 Min. lot: 0.1 Execution: ECN,STP
Leverage: 1:500 Country: Regulated by: FSC
Min. deposit: 1$ Platforms: MetaTrader,Mirror Trader Payment methods: Bank wire, Moneybookers, Liberty Reserve, WebMoney, CashU
Bonus: $100 bonus - trade 10 standard lots in a standard account

FX Open can be called as the giants in Forex broker services. It is the world’ largest Forex brokers, having an impressively vast and contented clientele. Since the time of its inception, the company has been the cause of global attention; FX Open definitely has vast global reach and potential, experienced and dynamic employees, and these are some of the factors that ensure the financial success of their customers and consistent growth of the company in this business.

Established in 2003, FX Open was primarily an educational center located in Cairo to provide training to people in the areas of Forex trading and technical analysis of Forex stocks. It was only in 2005 that FX Open started its own Forex dealing agency and started racing fast to the forefront to become the world’s largest Retail Forex broker on account of hard work and excellent services. Since then, it has been the premier Forex trading services for people, especially Islamic traders having Sharia complaint and swap-free Forex trading accounts. The history and growth of the company shows that it has the required ingredients to become one of the top ranking Forex brokers in the world. Over time and years of experience, there will be sure-shot growth and milestones.

Trading Platform

FX Open boasts its premier feature and the first ever of its kind, the MetaTrader 4 ECN trading platforms combined with PAMM accounts. The combination certainly makes for safe order execution, esoteric trading condition, consistent support, and speeds up operations. PAMM accounts have the most inventive features of contemporary Forex trading that came to existence FX Open found the need to introduce a new investing tool. The Percentage Allocation Management Module, or PAMM, is excellent for professional money managers wanting to manage their own funds individually. There are options for PAMM accounts through FX Open broker for either investors or managers and anyone can access the entire list of PAMM accounts given on the company’s website. Well, these features are praiseworthy because of their use and definitely because you may not find many brokers offering these services. It is very important to strike proper balance, which FX Open has been doing deliberately and proficiently.

FX Open offers MetaTrader 4 trading platform, both PC and mobile versions. With the reliability of MetaTrader 4 platform and its long-running volume of trade that this dealer has and concludes, reliability is definitely one of its greatest characteristic traits. Taking a look at the website’s front page will show that there are many traders that have been executed, and it is also a fact that there are several accounts that have been facilitated by this Forex broker, FX Open.

Features

The website of FX Open is quite impressive. Starting from the appropriate use of colors to the streaming news and the comprehensive information given, it is certainly eye-catching the company logo is also an additional element that will catch your eyes. The best thing about the website is the Live Chat element and the fact that gleaning knowledge offered in various areas of Forex trading, education and Forex analytics. Information related to different trading platforms, which includes information about Electronic Communications Network or ECN trading, was also available. Visuals were more than just attractive; this was found to be informational and useful.

Another important thing about FX Open is the wide range of promotions it offers when you are trading with them. You can even receive hundred dollars right after opening the Real Money account with them and trading merely 10 standard slots. There are some bonuses while opening the Micro and Standard accounts as well, which, we believe, traders will enjoy. They also offer the option to transfer money from any old trading account with another broker into their trading account, which you have just opened, while you also receive your welcome bonus! That’s like princely treatment!

Gazing at the screen, you will find that there is a currency pair updates, running at the moment, to let you know all the current information. You can gather information and learn about what is going on in real time. There is a section for live news, too, which discusses Forex news and gives you information related to the other financial aspects. Certainly, commendable!

Commissions are spreads are pretty well defined, too. FX Open has its fixed spreads on 49 for ECN. For MM (Market Makers), it is 28 and spot silver and gold too. Its fixed spreads for the floating ECN spreads for accounts and fixed spreads for the Market Makers, which is the greatest advantage of using this Forex trader. This feature allows traders the required knowledge of market trading conditions.

Because the broker offers silver and gold trading, it becomes all the more advantageous as a proposition.

In addition, it is possible to start a real tie trading account with just $1.

Help and Support

It was found that everything is perfectly organized with FX Open. Their Contact Section entails all details of their areas of expertise that you may require for help and assistance, with respective email addresses given. An impressive addition to the contact information is the customer support coupled with ICQ and Skype for live support. Whenever you have any difficulties, you can simply speak to the customer support team and have your queries answered. As of now, FX Open offers Call-Back request feature where you are given a form to fill out on the company’s website with all your information includes the country of your residence, and preferred language, and someone from the company will call you back to address your request. Not bad at all!

Summary

Overall, we found FX Open to be quite good and reliable, as a Forex broker in the recent times. The company is definitely one of the most successful ones today, giving its potent service motive, excellent dynamism, incredible worth ethics and equal importance to traders, to make a difference. Well, they have successfully made a difference to the Forex trading business. Other than the fact that Americans cannot use this Forex broker, there are no major disadvantages that can be pointed out.

Tags:
ECN, PAMM, MT4

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