FXOpen UK ECN

FXOpen ECN Broker
Payouts:
Min Deposit: $300

FXOpen UK (ECN)

  • Online Since 2013
  • Spread From 0 Pips
  • Leverage Up to 1:500
  • Platform : MetaTrader and WebTrader
  • Regulated By FCA UK (FRN 579202)
  • Commission from 1.5 units of base currency*
  • Payment options : Bank Wire Transfer, Credit/Debit Cards, WebMoney, Neteller, Skrill MoneyBookers, Payza
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Details

Broker FXOpen UK (ECN)
Website URL https://www.fxopen.co.uk
Founded 2013
Headquarters London, United Kingdom
Trading Platform MetaTrader and WebTrader
Minimum 1st Deposit $300
Minimum Account Size $300, £200, €300
Maximum Trade Amount 0.01 lot
Leverage 500:1
Spread floating, from 0 pips
Free Demo Account Yes
Regulated Yes
Regulation FCA UK reference number 579202
Commissions Yes
Commission Info from 1.5 units of base currency*
Deposit Methods Bank Wire Transfer , Credit/Debit Cards , WebMoney , Neteller , Skrill MoneyBookers , Payza
Withdrawal Methods Bank Wire Transfer, Credit/Debit Cards, WebMoney, Neteller, Skrill MoneyBookers, Payza
Trading Currency USD , GBP , EUR
Account Currency USD , GBP , EUR
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 9.35

Why Must Trade in FXOpen UK ECN ?

  • Online Since 2013
  • The Spread Starting 0 Pips
  • Leverage Up to 1:500
  • 5 Digit (5 Decimal Pricing)
  • Trading Platform : MetaTrader 4 and WebTrader
  • FXOpen UK is authorised and regulated by the Financial Conduct Authority (FRN 579202)
  • Commissions from 1.5 units of base currency*
  • Payment options : Bank Wire Transfer, Credit/Debit Cards, WebMoney, Neteller, Skrill MoneyBookers, Payza

Click Here to Open Account FXOpen ECN

Review of FXOpen UK forex broker

FXOpen, with its headquarters in London, first came into the forex trading arena around 2004. It started as a learning platform for technical analysis.

Over the years, though, it has established itself as a highly reputable and trustworthy brokerage firm. The longevity of its service and product provision is what sets it apart and above its competitors. Let’s see how some of its features are performing.

FXOpen’s Products/Assets

The brokerage firm mainly provides a wide range of investment accounts, which include the following:

  • Crypto trading accounts
  • CFDs
  • Micro contracts
  • ECN accounts: which come with exceptional leverage of 1:500
  • STP: which require a minimum of £100 for one to start trading
  • Demo accounts: allowing newbies to start learning their trade, before real trading

The platform offers up to 52 currency pairs. It also provides almost a dozen in CFD instruments. In terms of cryptocurrency pairs, more than 43 pairs are at the disposal for use by traders. Various trading instruments at the brokerage include indices, stocks, commodities, equities, and Options.

Trading Platforms

Apart from its web-based trading platform, FXOpen also runs on popular MetaTrader4 (MT4) as well as MetaTrader 4 mobile platform. One of the key reasons why are so popular that they are fully customizable. In this case, you can configure your account to suit your trading needs.

MetaTrader4 is also quite user-friendly; a trader can sign in from a web browser without having to download and install the software.

MT4 mobile option allows users to trade from their mobile devices such as Android and tablet. This is convenient as you can carry on with your business from anywhere without the inhibitions that come with desktop trading.

Spreads and Fees

FXOpen provides different kinds of pricing options based on the type of trading account you are operating. More often, though, the spreads are tight, starting from 0 pips. For example, fees charged on ECN account can range for between 0.3 to1.0 pips for every 1 million. Prices also depend on the volume that is traded in the previous month.

STP accounts’ spread usually depends on several factors, including market liquidity. Again, in such a case, the fees are already embedded in the price.

Deposit/Withdraw Options

The brokerage firm features a considerable number of deposit and withdrawal options.
Take a look:

  • Funding options are via bank wire transfers, with the minimum deposit being at $ 100. Major currencies that you can use include EUR, GBP, USD, among others. Processing time is between 1-3 business days. Credit/ debit cards can also are in use as a funding option.
  • The same system can be used for funds to withdraw, with the minimum being at $100. If you’re withdrawing to a UK bank, the fee is free, while EUR and USD go for $15 and $30, respectively.

Customer Support

The trading platform prides itself in excellent customer support. Clients have the option to use either of the following useful links:

  • Live chat which is available 24/5.
  • An active Helpline.
  • Telephone number.
  • Email: one for registered traders, and another for prospective clients.

Regulation and Safety

FXOpen is highly regulated with an assured safety of funds of all stakeholders. For example;

  • The broker is regulated by top-tiered FCA, under FRN: 579202 UK.
  • All clients’ funds are kept in separate accounts from that of operational funds.
  • Traders’ funds, irrespective of nationality are protected up to £50,000 by the FSCS. In case of unexpected eventualities, you can still access all of your finances.

Pros

  • Excellent customer support, which comes with 24/5 live chat.
  • Demo account which enables novices first to familiarize themselves with the platform.
  • FCA and other regulatory bodies ensure that your funds are in safe hands.
  • Free demo account for education purposes.
  • Low minimum on deposits

Cons

  • Limited deposit/ Withdraw options.
  • Currently, some nationalities are not allowed, an example being those from the US.

Conclusion

This trading platform remains one of the most dependable among most of the brokerage firms out there. It offers multiple accounts which suit different players.

Besides, it remains a broker of choice for many traders because of its lower minimum on deposits as well as withdrawals. Again, whether its forex or crypto, the broker provides a wide range of currency pairs catering for all kinds of traders.

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