FXOPEN – A Quick Review

The broker is not very well known having been founded sometime in 2005 but the broker does offer good services, many of the services are competitive in today's market. The offered are decent. However, the broker's main advantage is the conditions offered when opening a new account. You will be offered a bonus. You can make deposits using a number of different methods and you will also receive a high leverage. The broker provides a large number of trading tools the the broker provides the MetaTrader4 program.

"Demo Trading" – Demo trading is available for an unspecified amount of time. However, if you stop use of the account for a period of thirty days or more, your account will be closed. Of course, you can open a demo account again with relative ease. Score: 10

Initial Investment – $1 – It is possible to open upa MINI account for just one dollar. It is possible to deposit twenty five dollars which is enough to start trading using a regular account. Score: 10

Withdrawals and deposits from your account – Deposits and withdrawals are simple and fast. It is possible to open an account over the internet easily after reading and agreeing to the few terms and conditions. You will be able to deposit funds using seven different methods. You have fewer options to withdraw money from you account. You have to fill in forms the first time you want to withdraw money. It is guaranteed that withdrawn money will arrive in your account after twenty four hours of receiving your required information. Score: 9.7

Spread – 2 to 4 PIPS available on main currency pairs. You will need to ask to broker to see whether or not the spreads are fixed or if they change during the session of trades.

Stop Point – Clarify with the broker to see whether or not this is guaranteed. Also check to see if it is available under all conditions.

Leverage – You will receive a leverage of about 1:1 and up to 1:500 (!). Score: 10

Interest – You will need to ask the broker to determine if and under what conditions interest is calculated.

Regulation – This broker is regulated by BELVEDERE which is not really all that well known an institution. The financial based of this particular institute is unknown. Score 7.5

Trading Tools:

Technical and professional support – available 24 hours a day for five days a week.

Online tools, professional articles and literature – world clock and financial journals.

Trading courses – the broker provides a number of trading courses.

Market surveys and reviews – numerous reviews are available.

Trading alerts – available.

Help guide for traders – financial terminology guides.

Number of foreign currency pairs that are offered – The brokers offers a large number of currency pairs that is enough for many traders.

Languages – twelve languages are supported

Trading room online – available.

Personal coaching – no.

Free gifts and bonuses – You can receive up to a one hundred dollar bonus when you open an account. The bonus amount depends on your initial deposit amount.

Trading platform – You must download and install the trading problem on a computer.

Trading program "friendliness" – The "MetaTrader4" trading program is user friendly and upmarket. Score: 9.8

Advantages – You will have the ability to demo trade for as long as you want to. The broker also makes it possible to trade with a very small initial investment. You can easily open an account over the internet. You will also be able to deposit money using a number of different methods. It is possible to use a leverage of up to five hundred. The trading program provided by the broker is very user friendly. You will also be given a number of trading tools that can be using when trading. These tools will help improve your trading abilities.

Disadvantages – The broker has very few disadvantages. The disadvantages that the broker does have are very small.

The broker offers of a spread ranging from 2 to 4 PIPS on main currency pairs. While these spreads are competitive, it is possible to find competitors with better spreads.

The institution that regulates the broker is not really all that well known. There are better regulators out there.

Brokers score: 9.5