FXOpen Reviews 448

FXOpen cannot be trusted as a valuable trading platform.
I have developed an Algo Bot Python project and I have opened a demo trading account with FXOpen. After a month of inactivity my account was archived. No emails saying that it will be deleted, no text message no information at all. Such a bad practice should be a red flag for anyone reading this. FYI: I have a demo account with OANDA and it is still working after a month of inactivity.

FXOpen Not Paying My Earned Commission

I have a commission balance of $149 in my FXOpen account, but they are neither paying it nor responding to my requests. Despite multiple attempts to contact their support team, I have received no resolution.

My commission wallet ID: XX94FXPNXXN028225000B.

This kind of behavior is unacceptable for a broker that claims to be reliable. If they do not process my payment soon, I will have no choice but to warn others about this issue.

I hope FXOpen resolves this matter immediately.

ORIGINAL REASON FOR POSTING (not about website chat which was 5 star btw): I hope to change this rating but for now i have been given contradictory answers and asked ambiguous questions, neither of which gives the trust needed in other aspects of the organisation, eg market data on which to make decisions about money.

UPDATE (a couple of days later): Nice people which is worth a lot and not taken for granted. They promptly apologised for the contradictory answer (which was why i had progresed with them) which is better than no apology or refuting facts, but still... spelling mistakes in reply, just suggest that accuracy is not across the whole culture. Maybe i am expecting too much. I hope it's not the increasing compromises for sales... Otherwise service seems good, except that was asked to upload documentation when only asking about demo. Now wasting more time trying to remove that and start afresh. Feels extremely wasteful and frustrating.

Been using FXOpen for a few years now. Never any problems. Support is very responsive and helpful. Access to lots of markets. Good tools. A great option if you want to trade CFDs and currencies from a restrictive place like canada

Warning: This broker didn't accept my application.
Here is WHY:

I said to them I do not accept 'individual parameters for executions' that are clearly give me a disadvantage. Also said to them I don't accept 'losses' without trading. Only accept 'normal risk' during trading.

Basically I was telling them I am not signing up myself for making losses (unless by my own trading off course) by accepting this statement:

I had to confirm this:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

BE WARNED because any trader expects this (I think) but this broker rejected these statements above ad so force you accept losses with other means. BAD signal for an unregelated broker as you completely have to trust them....

Edit to answer:
This is what they mean with "assisting": This was their one line answer in their email: "Compliance decision was made, thank you for understanding."

They could also have said something like this: "We understand some customers might see different interpretations of this line to accept risk. We therefor refer to our legal documents on our site as this is a sensitive topic which can escalate to lawsuites quickly. So we prefer not to make adjustments or add in more detail here."

Something like this. But they just reject application.

Be cautious when dealing with this company, as they may employ tactics to delay your withdrawals, including those involving your initial deposit. After verifying my account, I made a modest deposit of $80. However, when I attempted to withdraw my funds, my request was manually denied, and my account status was mysteriously changed from verified to unverified. It appears that someone in their department altered my account status. They then requested additional documentation, including a passport, bank statements, and a selfie with the passport, just to withdraw my deposit for 80$. Engaging with their customer service proved futile, as it felt like communicating with a robot. Consider the implications if the amount involved was $80,000; the likelihood of seeing that money again seems dubious.

ok. ok. ok. ok

Big thanks to the support team! I asked them a question about ECN account commissions on Friday evening at 5:30 p.m., they answered me Monday morning at 8:47 a.m.! Bravo for the speed and clarity of their response!
I have been an FXOpen client for many years, I created a scalping EA that works perfectly, I am very satisfied with this broker.

fxopen
low spread

Taking WEEKS to verify account!

It took me seven years to get my account reopened. Once reopened, it's taken me about two months to get it verified with updated documents. The problem is the lack of response from their support department, they just simply DO NOT respond to emails. As of today, I have been waiting a week for them to reply to my latest email. This is how you lose money - not being able to access your account.

Trustworthy and reliable broker.
Withdrawals always processed in a timely fsshion.

Can't complain; I've been with them for over a decade.

Spreads are low. Quik execution.

I have some years with You

I trade manually and somethimes with EAs for more than 2 years with FxOpen. So far no problem. All trades executed promt no laggs no slippage. Customer service helpful and fast. Withdraw process simple and without problem. Satisfied customer.

FX Open has been my favourite broker for many years. The staff are helpful and friendly. Good choice of deposit and withdrawal methods. I particularly like withdrawing via instant bank transfer as multiple withdrawals are processed during the day and they are quick to process the requests. Their client area has been updated recently and is great to use. I would highly recommend trading through FX Open.

Not good enough. After profitable periods, then FXOpen platform started to have slippages, high swap and low liquidity issue.

Great broker