FXOpen

FXOpen

Company Name: FXOpen NZ Limited
Address and Contact Details: 6/138 Bassett Road, Remuera, Auckland, 1149, New Zealand

Phone: +64 9 801 0123
Phone Nos. in Other Countries:
Russia +7 499 346 0381, +7 499 346 0960
China +86 105 732 9373
Malaysia +60 32 782 0288
Germany +49 693 329 6294
France +33 979 998 040
Spain +34 931 768 529
Bahrain +9 731 619 8806
United Kingdom +44 203 411 5650

Sign Up Offer: No
Demo Account: Yes

Minimum Deposit on the Three different types of accounts:
Micro: $1
Standard: $25
ECN/STP: $1000

Regulator: Financial Service Provider Registry in New Zealand, Australian Securities and Investments Commission in Australia
Awards: Crowned Broker of the Year 2009 and Best Broker in the Middle East and Asia 2009 Award.

FXOpen – PAMM

Company Background

FXOpen was originally opened to provide education and learning on technical analysis. They are the first broker introducing Micro accounts for the small investors. They also have introduced accounts which are compliant with Muslim Sharia Laws. They have also launched first-ever traders’ CRM and also a widespread partnership program.

Initially started as an educational center, the founders of FXOpen launched their brokerage services in 2005, considering a need for a fair and transparent brokerage that can ensure the maximum customer satisfaction to the traders and investors. From the very beginning, FXOpen relied on the user-friendly trading platform MetaTrader (MT4). In 2009, they introduced the first ever MT4 ECN trading platform, with advanced Money Management Technology (PAMM accounts).

Brokering Features and Fees

– min stock commission – no commission charged on Micro and Standard accounts.
– margin asx cfd minimum from – 0.005% which is equal to approximately $4 for AUD based currency pairs, $5 for USD based currency pairs, $7 for EUR based currency pairs

Platforms

FXOpen offers MetaTrader 4 trading platform, which is a common and wide-spread platform used by a large number of the traders of the world. As per an estimate, more than 70% of the CFD brokers offer MT4 to their traders.

The platform has an easy to use user interface, and provides various types of charts and indicators enabling the traders to make confident investment decisions. Moreover, the feature of the MQL language allows to easily program indicators and also to allow using a feature called Expert Advisors (EAs). EAs bring automated trading strategies that can enable a trader to become successful in the retail Forex market.

FXOpen has also introduced the MT4 ECN trading platform for ECN brokers. Coupled with advanced Money Management technology of PAMM accounts, this is world’s leading MT4 ECN trading platform.

FxOpen_diagram

Features

charts – brings all graphical displays of price movements in the financial markets
technical indicators – helps to carry out the price analysis on symbols
trade orders – FXOpen offers full set of trade orders which can help managing trading activities in a flexible manner
alerts – provides sound alerts regarding changes in the market and one doesn’t need to keep observing the charts continuously
news – helps traders to make sensible investment decisions keeping the most recent developments of the financial markets in mind

Mobile Trading

FXOpen has mobile trading platforms for PDA users as well as Smartphone users.

PDA Mobile Forex Trading

FXOpen offers mobile trading using PDA, Windows Pocket PC 2002 and other devices. With the combination of Wireless access technologies and GPRS, a trader can control his trading accounts through Personal Digital Assistant devices.

MetaTrader 4 Mobile offers full-function trading facilities through Pocket PCs. A trader can have full access to financial markets through their mobile devices and can carry out trades from anywhere in the world. The technical analysis and graphical charts will also be available to a trader on his mobile device.

Smartphone Mobile Forex Trading

FXOpen’s MetaTrader 4 Mobile platform will also be available to a range of Smartphones. This platform serves as a mobile terminal for the smartphone users. Using this mobile platform, users can access worldwide financial markets for doing trades. The platform has embedded charts and technical indicators, helping traders to make important investment decisions.

FXOpen_mobile

Markets Available

FXOpen offers different set of financial instruments to their different account holders:
micro – 28 currency pairs, gold, silver.
Standard – 28 currency pairs, gold, silver.
ECN- 48 currency pairs, gold and silver
PAMM – 48 currency pairs, gold and silver.
FASS standard -28 currency pairs, gold and silver
FASS ECN – 48 currency pairs, gold and silver.

Deposits and Withdrawals

FXOpen offers different types of deposit and withdrawal methods.

Deposits:

Wire Transfer: FXOpen provides a non-cash currency transfer from one bank account to another in select currencies of USD, EUR, GBP, AUD, CHF, CAD and JPY. One can transfer a minimum of $25 or equivalent and there is no maximum limitation for wire transfer. FXOpen doesn’t charge any commission. However, bank charges will be applicable.

For Latin American countries of Chile, Brazil, Argentina, Peru, Uruguay and Mexico, FXOpen provides popular online payment methods such as T.B.L, Boleto Bancario, Pago en Efectivo. The minimum or maximum deposit limitations can depend on the methods of deposit and the country of origin of the trader, and the commission could be up to 6%.

There are several local deposit methods as well, which will be available to the clients from Malaysia, Iran, Indonesia, China and Thailand. There won’t be any limitations on the amount deposited using this method. Only bank commission will be applicable.

They have different types of electronic payment systems as well such as webmoney, moneybookers, Payza, FasaPay, CashU, RBK Money, and Intellect Money. Traders can also use credit and debit cards to deposit money.
Withdrawal

For withdrawal, users can use Wire Transfers and Local Withdrawal methods for withdrawing funds in different currencies. Traders can also withdraw money using different types of electronic payment systems such as moneybookers, Payza, FasaPay and c-gold.

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Risk warning: Your capital may be at risk. CFD trading is suitable for experienced traders and not beginners.