FxOpen is a broker located on the island of Nevis.
The company was initially launched as an educational center in Cairo (Egypt), back in 2003. Then in 2005 it underwent transformation, becoming a full-fledged broker.
FXOpen now also features an excellent managed account service (PAMM) which combines several accounts into one single account. FxOpen is regulated by the FSPR in New Zealand, the FSA in the UK and the ASIC in Australia.
FXOpen was the 1st company to introduce ECN trading on the MT4 platform, back in 2009. Since then, they have grown their trading environment into a huge marketplace where the orders of professional traders, hedge funds, asset managers are matched against those of retail clients. This business model allows FXOpen to offer robust deep liquidity and consistent execution for all types of trading strategies, HFT and toxic flows included.
FXOpen's technology is aimed at asset managers, professional traders and other brokers. Their client base consists of non-traditional retail clients combined with proprietary market-makers and institutional traders. The company now counts over 700,000 trading accounts and provides access to one of the biggest forex and Bitcoin liquidity pools marked by consistent execution and full trading transparency.
FXOpen trading contests are held on MetaTrader 4 demo accounts. As such, traders have zero risk of losing money, but they can win real cash prizes. Some contests are free and others require an entrance fee.
The contests include specific rules or restrictions:
a) The available trading instruments;
b) The minimum and maximum lot size and the maximum number of orders;
c) The use of automated trading (Expert Advisors) or specific strategies;
d) The prize amounts and their allocation
29/11/13 FXOpen opens office in London
28/03/13 FXOpen obtains FSA license in the UK