FXOpen Markets Limited
FXOpen is one of the largest Forex brokers in the world enjoying unprecedented client base growth due to innovative, unique services, reliable trading conditions, and strong customer support principles.
FXOpen offers different types of accounts for traders with different trading styles, objectives, starting capital, experience and skills:
- ECN accounts
- STP accounts
- PAMM accounts (PAMM ECN and PAMM STP)
- Micro accounts
- Crypto accounts (to trade Bitcoin, Litecoin, and Namecoin)
FXOpen offers an ECN-integrated MT4 trading platform, compatible with algorithmic trading.
FXOpen keeps to a no dealing desk (NDD) business model using liquidity of major banks, hedge funds, and other financial organizations. The company’s customers are allowed trading directly in the interbank market (also referred to as direct market access or DMA). NDD model enables leverage speculations and sets no restriction on application of trading strategies.
The company supports e-Sports and helps to organize and promote the FXOpen Path of Ascension and similar e-Sports championships. FXOpen has its own StarCraft II professional team. FXOpen sponsored the StarCraft II championship winning team in the 1st Hong Kong e-Sports Tournament.
The company is a sponsor of motorsports activities, in particular, drifting.
The company organizes and promotes regional Forex championships in the framework of the ForexCup project. The Championships were held in China, Russia, and Ukraine.
Top Rated Alternatives
See all Alternatives
FXOpen Markets Limited
Overall
I find it difficult to follow now, here I read some negative post about this broker, and now I have left the doubt.
Overall
Hello gestur1976
Yes brokers like this will pay some scam some, thank god you are in the good books so far, stay safe.
Good luck
Liz
Overall
Sorry fxpublish that should read "I walked out" not "workout"
Overall
Hello fxpublish
I worked with this employee at FXOpen and both of us where paid by FXOpen as their employees, anything else you need to know about this scam broker just ask.
I workout on this broker because of the scams they were committing, ask any genuine employee from this firm to deny it. 😎
Good luck
Liz
Overall
As I see Liz, you are wrong. Seems that the forum moderator is not the employee of companies. For that reason you have to adequately assess the sitation
Overall
Hello fxpublish
The FXOpen employee & the employee at mayzus are the same person, mayzus are trying to cover up scams at both brokerage firm by trying to suggest he is also one of their former emplyees.
Work that one out.
http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/33964-do-you-trust-your-broker-your-money-5.html#post174236
Total scam.
Good luck
Liz
Overall
I do normal trading and scalping using their ECN account and I've withdrawn thousands of dollars so far without any problem. I can't talk about MM accounts.
Overall
What are u talking about ? where there has been specified FXOpen employee?
Overall
Hello oscarin_dem
Read the truth about this scum, even the MAYZUS_representative at the forexpeacearmy seems to suggest one of FXOpen employees is nothing but a two face dishonest person they had to kick out http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/33964-do-you-trust-your-broker-your-money-4.html#post173750
FXOpen will stop at nothing to steal money from clients, I agree keep well away from them.
Good luck
Liz
Overall
Hi there, according to what u have complaint,
kindly show us the proof such as the history of chatting between u and them, your statement regarding your trades
I wish to trust you, but not relying on the pure "words" like abusing.
Thanks.
Overall
This kind of procedure directs at reducing costs during the maintenance of trading accounts. Almost all of the huge brokers do this procedure, even Ducascopy - they charges more than 50 USD: http://www.dukascopy.com/swiss/english/about/fee-schedule/#
Maintenance ** 0 to 0.2% annually per client
** Starting from opening, Current Accounts are free of charge for clients having had at least one open position on the SWFX - Swiss FX Marketplace or one online currency conversion during the last 90 days. Otherwise, Dukascopy Bank SA may charge Maintenance Fees up to 0.2% per year of average balance but at least CHF 50 every 90 days, as long as there is no trade/open position/online currency conversion. Maintenance Fees are capped at CHF 200 per year and per client, regardless the number of Trading and Current sub-accounts of each client, save exceptions subject to specific agreement.
Overall
According to our Customer Agreement,
Inactive Accounts Maintenance Fee
2.14. If the Client:
(i) does not access his Trading Account by 'logging on' to
Account via the Platform using his Account Number and
password and/or there are no deposits to/withdrawals from the
account for any period of 90 days,
(ii) and his Account Balance is 50 USD or less,
then after those 90 days (the “90-day grace period”) the Account will be
deemed 'Inactive' ("Dormant") and shall be placed to archive.
The Company has the right to charge Inactive Accounts for maintenance in the
archive with the Maintenance Fee in the amount of 50 USD.
Provided full repayment of the Client’s debt to the Company, account can be reactivated.
Inactive accounts with balance under USD 50 are placed into the archive if there is no activity in the account (no logins via Meta Trader 4) for 3 months or more. If there is more than USD 50 in the account - it will not be placed into the archive, no matter how long you keep it inactive. http://www.fxopen.com/faq.aspx#q24
Overall
WARNING - MUST TO READ ABOUT THIS BROKER'S INTERNAL REGULATION !!!
If you keep your money in this broker's account under U$50 (let's say U$49.xx) and if you don't log in to your account for 3 months, then they put your account into inactive and archive status. That means your money is confiscated by this BROKER by their internal regulation called "void & inactive account fee". Whatever the money left in your account less than U$50 and if don't log in to your account for 3 months, they confiscate your money. I just knew it and lost my small amount of money left in this broker's old account. BE CAREFUL ABOUT THIS BROKER!!
Overall
nice broker, what can I say?
Overall
The best ECN Forex platform so far. I can't talk about their standard accounts, but I guess it has the same problems as all market makers.
Overall
If you're so bad, explain what are you whitdrawing..? from this "FANTASTIC" broker..?
Overall
wow... what a bad experience yesterday!!!
A trade was closed 69pips away from my SL!!!!!! the SL was set to 9pips and finally closed at -78pips.
I lost 30% of my account in 1 trade!!! incredible.
I follow the rule of putting a SL to protect my account... but when the broker is not able to process it, what can I do????
I understand that the market move etc...
but 69pips...
more than this the TP was reached too, and the trade was not close at the TP level!!!
Overall
I was setup and scammed by these people, simply because I was advised by one of their senior members of staff to report serious crimes being committed by members of their employment staff, such as "money laundering" and "intimidation of clients" to name just a few. Hopefully someone from their company will address my claims and act in a speedy manner to remove these wrong doers and admit the wrongful acts they (FXOpen) have committed against clients like myself.
Good luck
Liz
Overall
I have never met such great broker as FXOpen. The tightest spreads, the best execution, the backtesting environment are all for the high technological traders. As to FxOpen being a much better broker than some that I have used, that's from my own personal experiences from having live accounts with quite a numbers of brokers over these last 3 years or so of trading the forex.
FYI:
Regarding this case (Kovacs Norbert vs fxopen.com #2012-056) I would like to inform you that Mr.Kovacs made a respective complaint to the New Zealand Financial Dispute Resolution (Financial Dispute Resolution) – an independent New Zealand dispute resolution scheme for consumers and financial service providers to use when they are unable to resolve a dispute. FXOpen NZ Limited is a scheme member since December 2011 (http://www.fdr.org.nz/member_search/..._member/197240).
In March 2013 FDR made its final decision on Mr.Kovacs’ complaint. According to the FDR Final Decision:
-it had not been established that FXOpen had not acted in accordance with the contractual provisions set out in the Customer Agreement and Terms of Business;
-FXOpen has adequately explained how the error of the prices occurred and what steps were taken by FXOpen to rectify the situation in compliance with the agreed terms between the parties.
Thus, FXOpen has adequately justified its actions in accordance with Customer Agreement and Terms of Business closed with Mr.Kovacs.
For those reasons Mr.Kovacs’ claim has not been proven and Mr.Kovacs’ complaint to FDR was dismissed.
Find the similar case: http://fxpublish.com/trading-clarification/nfa-cases/123-real-trading-case
Overall
I am FXOpen IB. Beware for those FXOpen IB, speaking from my experience. They actually can forfeit all the comm which had already paid out to you even more than one year ago. Simply claim that you are running same IP address on your own MT4 and yr client MT4 and insist you are churning commission over past years. So DO not leave yr money there once you get yr comm quickly withdraw it.😡
