According to our latest research, FXOpen is a British brokerage firm based in Auckland, New Zealand. Forex broker FXOpen is also a company that provides traders with access to a platform that allows them to buy and sell foreign currencies. FXOpen forex broker is also known as a retail forex broker or currency trading broker. Forex brokerage services are also provided for institutional clients and large corporations such as investment banks, to find out more, check out the FXOpen review below!
FXOpen Awards And Recognition
• 2018 – Certificate for high-quality order execution from VerifyMyTrade and Financial Commission.
• 2011 – Three awards from the IB Times Trading Awards as Best Islamic Forex Broker, Best Southeast Asian Forex Broker, and Best ECN Forex Broker.
• 2010 – Falcon Award for Best Trading Platform.
FXOpen Markets, Products, and Instruments
FXOpen offers all or some of the following market instruments for trading:
Forex:
FXOpen forex trading involves a currency exchange market where individuals, companies, and financial institutions trade currencies against each other at floating ratios. FXOpen is also among the top Forex brokers 2022.
Commodity:
As the currency exchange market, the FXOpen commodity market offers traders different investment opportunities. Investing in tradable goods on a contract basis is a reliable way to reduce risk during times of inflation or economic uncertainty.
Index:
An equity or stock index is an actual stock market index that measures the value of a particular part of the stock market. FXOpen can represent the largest group of companies in a country or they can represent a specific stock market.
Precious metal:
FXOpen’s gold and precious metals trading involve hard commodities which are tradable goods on a contract basis.
Security And Regulation
One of the first things a prospective trader needs to make sure of is whether a broker like FXOpen is safe to trade with. One of the surest yardsticks to measure a broker’s safety is to establish which regulatory authority is the supervisor of its actions.
FXOpen is registered on Nevis, however, in 2013 with FXOpen opening a London-based company, FXOpen received a Financial Supervisory Authority (FCA) license with registration number 579202.
The launch of the London office brought major corporate expansion between EU countries and beyond. With an FCA licensed broker, traders can rest assured that funds will be safe and secure at FXOpen, as it provides a variety of safe ways and general guidelines on how a broker should operate.
Customer Support
Prospective traders need to be reassured that the brokerage company they choose can offer the necessary support and assistance whenever they need it.
FXOpen offers excellent customer support via Live Chat 24/5 or the sales, finance, trading desk, and support departments within the Customer Support Portal 7-16 GMT business days.
Research
Aspiring traders should always do as much research as possible on speculative trading before starting to do so. Trading with confidence and success is highly dependent on knowledge and understanding of the market, therefore, the research options offered by the broker are an integral part of its features when choosing.
FXOpen does not offer much in this regard or research tools to assist traders in their trading. This broker has a Margin and Pip Value Calculator which will help you calculate margin and pip values before opening a trade. This will also help you decide which leverage is right for you.
If these parameters change, you can recalculate the margins in just a few seconds without the risk of making mistakes, as in manual calculations. With FXOpen offering multi-currency accounts, the Currency Exchange and Conversion Calculator will help you get the right conversion rate when transferring between FXOpen accounts with different base currencies.
You can also view historical rates for any date you choose. On the FXOpen Help tab, you can find the latest economic news, professional market analysis, and the Forex calendar. It also provides monthly and daily account reports.
Education and training
Before starting to trade, prospective FXOpen clients should take advantage of all possible information and trading skills necessary for success in the world of forex and commodities trading.
If the FXOpen website itself does not provide adequate tools, traders should explore the website and other informative tools to acquire such knowledge. FXOpen does not offer much educational material to help novice traders. On the FXOpen Help tab, there are guides for submitting tickets and exploring the Knowledge Base. If you can’t find your answer in basic knowledge, submit a ticket and they will respond as soon as possible.