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FXOpen - ECN forex broker
FXOpen is a broker located in the Republic of Mauritius, and regulated by the Financial Services Commission (FSC) of the Republic of Mauritius. Company Num.: 084573 C1/GBL, Licence Num.: C108006805.
The company was initially launched as an educational center in Cairo (Egypt), back in 2003. Then in 2005 it made the transition to becoming a broker.
As soon as FXOpen was up and running, they offered accounts without swaps, which is in line with Islamic Sharia and therefore well suited for Muslim traders. FXOpen is and will always be a company that tries to understand the various needs of its traders, which come from diverse backgrounds with diverse beliefs.
As of 2009, in addition to providing standard forex services with the MetaTrader 4 platform, FXOpen has added an ECN/STP-like No Dealing Desk account. FXOpen also features an excellent managed account service (PAMM) which combines several accounts into one single account.
Click here to visit FXOpen's website.
Types of accounts
| Standard | Micro | ECN | |
|---|---|---|---|
Spreads |
As low as 2 pips |
As low as 2 pips |
As low as 0.5 pips |
Commissions |
$0 |
$0 |
$1.80 - $2.50 for 1 lot (100K) |
Minimum deposit |
$25 |
$1 |
$1,000 |
Maximum balance |
No limit |
$3000 |
No limit |
Leverage |
1:1 - 1:500 |
1:1 - 1:500 |
1:1 - 1:500 |
Lot size |
0.10 (10,000 units) |
* 0.01 (100 units) |
0.10 (10,000 units) |
Pip quotation |
4 decimals |
4 decimals |
5 decimals |
* The balance of micro is displayed in cents. (1) 0.10 lot = (1) 0.01 lot, or approximately 1 cent per pip.
Forex bonuses
1) $100 one-time bonus
You'll receive a $100 bonus after you've opened a real account and traded a total of 10 standard lots. This offer can only be valid once, and it is available for all types of accounts.
2) Welcome bonus (can be combined with other bonuses)
Open a standard account and you'll get a $25 bonus (after an initial deposit of $100 or more). In order to withdraw your bonus, you must trade a minimum volume of at least 10 standard lots. You can open up to 10 standard accounts with this welcome bonus.
Open a micro account and you'll get a $1 bonus (after an initial deposit of $1 or more). In order to withdraw your bonus, you must trade a minimum volume of at least 100 micro lots. You can open up to 10 micro accounts with this welcome bonus.
Transfer money from your previous broker to your FxOpen account, and you'll get a welcome bonus equal to 5% of the funds transferred!
FXOpen's spreads (Standard and Micro accounts)
| Pair | Description | Spread |
|---|---|---|
| EURUSD | euro vs US dollar | 2 |
| GBPUSD | British pound vs US dollar | 3 |
| USDJPY | US dollar vs Japanese yen | 2 |
| USDCHF | US dollar vs Swiss franc | 3 |
| AUDUSD | Australian dollar vs US dollar | 3 |
| USDCAD | US dollar vs Canadian dollar | 4 |
| NZDUSD | New Zealand dollar vs US dollar | 5 |
| EURGBP | euro vs British pound | 3 |
| EURCHF | euro vs Swiss franc | 3 |
| EURJPY | euro vs Japanese yen | 3 |
| EURAUD | euro vs Australian dollar | 10 |
| EURCAD | euro vs Canadian dollar | 12 |
| EURNZD | euro vs New Zealand dollar | 12 |
| GBPCHF | British pound vs Swiss franc | 7 |
| GBPJPY | British pound vs Japanese yen | 7 |
| GBPAUD | British pound vs Australian dollar | 10 |
| GBPCAD | British pound vs Canadian dollar | 10 |
| GBPNZD | British pound vs New Zealand dollar | 35 |
| CHFJPY | Swiss franc vs Japanese yen | 4 |
| AUDCAD | Australian dollar vs Canadian dollar | 10 |
| AUDJPY | Australian dollar vs Japanese yen | 6 |
| AUDCHF | Australian dollar vs Swiss franc | 10 |
| AUDNZD | Australian dollar vs New Zealand dollar | 20 |
| CADJPY | Canadian dollar vs Japanese yen | 6 |
| CADCHF | Canadian dollar vs Swiss franc | 8 |
| NZDCAD | New Zealand dollar vs Canadian dollar | 10 |
| NZDCHF | New Zealand dollar vs Swiss franc | 10 |
| NZDJPY | New Zealand dollar vs Japanese yen | 10 |
| GOLD | Gold Spot | 100 |
| SILVER | Silver Spot | 4 |