Forex, Stocks, Crypto CFDs trading with FXOpen INT: A True ECN Forex Broker

FXOpen is a suitable ECN and STP broker for both beginners and experienced investors. The regulated service provides a competitive trading environment with multiple platforms for active traders. The low spreads and commissions, as well as a strong track record make it an attractive option, though only high volume traders are rewarded with discounted fees.

ECN Account

When we used an FXOpen STP account we were offered tight spreads. For major forex pairs including EUR/USD and GBP/USD, spreads averaged around 0.2 pips, whilst for EUR/GBP, spreads were offered at 0.5 pips. The spread for the FTSE 100 index started from 0.8 points while for gold and silver, spreads start from 0.27 and 1.2 pips respectively. Individuals investing via the ECN xcritical reviews profile will trade on the raw price from banks and liquidity providers, and with this, pay a small commission fee. On the other hand, STP account holders will incur no separate commission fee.

1. In addition, a price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitability by placing well-planned trades.
2. It’s perfect for your first step in building a broad-based affiliate network.
3. After seeing the various advantages offered by FXOpen, traders can easily register an account by filling out the form in the registration menu on the FXOpen website.
4. The STP account type is designed for traders with a minimum deposit requirement of $10 and a minimum position size of 0.01 lot.

Please be informed that on November 3, 2024, FXOpen will set its trading servers to winter time, moving from GMT+3 to GMT+2.

The company was founded by a group of traders with a mission to provide services that are in the interests of traders. FXOpen claimed to be one of the first to offer ECN trading via MetaTrader 4 (MT4). With FXOpen’s unique proprietary price aggregating technology, their clients can benefit from the industry’s most competitive spreads (from 0 pips) and low trading commissions. The experience of forex trading with FXOpen using Metatrader 4 is satisfactory, I only started using the platform in early 2024. In terms of trading platforms, I like Metatrader 4 perhaps because I am familiar with this platform which is also used xcritical by the broker I used before. I am satisfied with the conditions because the spread on many pairs is very narrow, slippage is minimal, and withdrawals are fast.

Explore infinite trading opportunities

Read more about how to generate your referral link and profit from the IB broker Forex program here. If you have experience trading with FXOpen please share your personal review of the broker and what you think are strong and weak points. You can trade on major global indices, FX, commodities, ETFs, shares and cryptocurrency. Although trading with significant leverage can increase profit prospects, it can also increase losses. Ensure you have appropriate risk management strategies in place. Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry.

How To Create An Account

The STP account type is designed for traders with a minimum deposit requirement of $10 and a minimum position size of 0.01 lot. It offers floating spreads, a margin call at 100%, and a stop-out level at 50%. The account supports scalping, expert advisors, hedging, news trading, phone dealing, and market depth with level 2 quotes. Notably, this account type charges no commission, making it an attractive option for cost-conscious traders. The ECN account type offers traders a range of features with a minimum deposit of $100 and a minimum position size of 0.01 lot. The account provides floating spreads, a margin call at 100%, and a stop-out level at 50%.

Nonetheless, a low minimum deposit requirement and access to educational content is ideal for novice traders. With ECN accounts, forex commissions are charged based on the account balance. Nonetheless, traders with an account balance less than $1000 will pay a $3.50 commission charge per lot traded. This reduces to $1.50 per lot for those with an account balance of $250,000 or more.

Similarly when we traded commodity CFDs, we incurred a commission charge of 0.005 for lower account balances and 0.0025% for a balance over $250,000. Crude oil and natural gas were charged at either 0.005%, 0.0025%, or 0.0018% per side, depending on the account balance. For cryptocurrency CFD accounts, the commission is 0.5% per side. Traders have a $1 welcome bonus when they sign up for an account at FXOpen Micro and a $10 no deposit bonus for the STP account. A time-limited cashback program is equally available with a rather complex structure. The online broker also runs demo account competitions, ForexCup, with real cash awards are credited to trader accounts.

How we started

For the ECN alternative, the typical spread is as low as 0.1 pips with a commission of merely $1.50 per lot. The broker also charges an overnight open position fee and third-party withdrawal fees, which is fairly standard in the industry. FXOpen offers a partnership to banks, financial institutions, physical and natural persons, experienced Forex traders, and those new to the foreign exchange market. Also, the Forex IB program implies receiving a progressive rebate, while Affiliates receive a commission for each verified active trader based on the CPA model after the trial period. Some payment methods have their own minimum deposit requirements, though these vary by location.