Introduction
Since its launch in 2005, FXOpen has developed a niche in the retail forex scene. Attractive to both new and seasoned traders with cheap minimum deposits and a range of trading platforms, it We will discuss its regulatory situation, account kinds, trading tools, fees, deposit and withdrawal procedures, customer service, and more in-depth FXOpen review. We will also compare FXOpen head-to-head with Capitalix, FXRoad, TradeEu Global, and Smart STP our consistently recommended brokers to help you decide which platform best meets your trading needs.
FXOpen Overview
FXOpen started real trading in 2005 after first opening as an educational centre in 2003. These days it provides access to FX, CFDs on indices, commodities, cryptocurrencies, and stocks. The broker’s mission is to combine competitive pricing with innovative tools, such as its proprietary ECN bridge for MetaTrader platforms. With offices in the UK, Australia, and various offshore jurisdictions, FXOpen serves clients worldwide. Its focus on technology and transparent pricing has earned it a loyal following, though some aspects of its service lag behind our top four brokers.
Regulation & Security
FXOpen is regulated in multiple jurisdictions:
- UK (FCA): FXOpen UK Limited (FRN 690196) is authorized by the Financial Conduct Authority.
- Australia (ASIC): FXOpen AU Pty Ltd (AFSL 533169) operates under ASIC supervision.
- Offshore Entities: Additional registrations in the Seychelles and St. Vincent & the Grenadines cover regions without local regulation.
Clients in regulated regions benefit from deposit protection schemes and negative balance protection. FXOpen employs SSL encryption for its websites and two-factor authentication on its client portal. While these measures meet industry standards, Capitalix and FXRoad offer broader negative balance protection and more transparent insurance policies. Likewise, TradeEu Global and Smart STP maintain real-time segregation of client funds and regularly publish proof-of-reserves reports for extra peace of mind.
Account Types
FXOpen offers four live account types:
- Standard: No commission, spreads from 1.0 pip, minimum deposit $100.
- ECN: Raw spreads from 0.0 pips, commission $3.50 per side per lot, minimum deposit $500.
- Crypto: Trade major cryptocurrencies with fixed percentage spreads starting at 0.25%, minimum deposit $10.
- Prime: For high-volume traders, spreads from 0.0 pips, commission $1.75 per side per lot, minimum deposit $5,000.
All accounts include free demo versions. FXOpen’s ECN and Prime accounts suit active traders, but commissions can add up. By contrast, Capitalix and Smart STP offer zero-commission accounts with similar raw spreads. FXRoad provides tiered commission rebates as volume grows, and TradeEu Global discounts swap and spread fees for loyal clients, giving them an edge in cost efficiency.
Trading Platforms & Tools
FXOpen supports three main platforms:
- MetaTrader 4 (MT4): Standard desktop and mobile, with a powerful charting package and Expert Advisor support.
- MetaTrader 5 (MT5): Offers additional order types, an economic calendar, and synthetic instruments.
- FXOpen WebTrader: Browser-based MT4 with no download required, though feature-limited.
FXOpen also provides an ECN Bridge plugin for MT4, allowing direct market access to interbank liquidity. Traders gain from 20+ built-in indicators, one-click trading, and MQL scripting. However, its proprietary tools are fewer compared to FXRoad’s custom dashboard and Capitalix’s integrated market scanner. TradeEu Global bundles advanced pattern recognition tools in its MT5 offering, and Smart STP includes a proprietary mobile app with integrated economic news feeds, raising the bar for on-the-go trading.
Tradable Instruments
FXOpen clients can access over 300 instruments:
- Forex: 50+ main, minor, and exotic pairings of currencies.
- Principal world indices including S&P 500, FTSE 100, and DAX 30.
- Crude oil, natural gas, gold, silver, and agricultural futures are among commodities.
- Bitcoin, Ethereum, LTC, and XRP CFDs.
- Shares: CFDs based on top worldwide companies.
While this selection meets the needs of most traders, Capitalix and TradeEu Global extend further into bonds, ETFs, and energy contracts. FXRoad offers proprietary indices on commodity baskets, and Smart STP provides direct share trading on multiple exchanges, making them more versatile for portfolio diversification.
Fees & Spreads
FXOpen’s pricing structure breaks down as follows:
- Standard Account: Spreads from 1.0 pip, zero commission.
- ECN Account: Raw spreads from 0.0 pips, commission $7 per lot round-turn.
- Prime Account: Raw spreads from 0.0 pips, commission $3.50 per lot round-turn.
- Crypto CFDs: Fixed spreads from 0.25%, no commission.
Swap rates for overnight positions vary by instrument. Withdrawal fees depend on method: $15 bank wire, small fees on cards and e-wallets. FXOpen’s ECN commissions are competitive, but clients seeking even lower costs may prefer Capitalix’s zero-commission model or TradeEu Global’s discounted spreads on higher-tier accounts. FXRoad’s spread rebates for VIP clients and Smart STP’s tiered commission structure also deliver superior long-term cost savings.
Deposit & Withdrawal Conditions
FXOpen offers multiple funding options:
- Bank Wire: 2–5 business days, $15 fee.
- Credit/Debit Cards: Instant, 2% fee.
- E-wallets (Skrill, Neteller, Perfect Money): Instant, 1% fee.
- Cryptocurrency: BTC, LTC deposits free; withdrawals incur network fees.
Minimum deposit starts at $10 for crypto, $100 for fiat. Withdrawals processed within 24 hours for e-wallets, 1–3 days for cards, and up to 5 days for wires. Capitalix and FXRoad waive all deposit and withdrawal fees, speeding up turnaround. TradeEu Global offers fee-free SEPA transfers in Europe, and Smart STP reimburses first-time withdrawal fees for premium clients—features FXOpen does not match.
Customer Support
FXOpen provides 24/5 support via live chat, email, and phone:
- Live Chat: Immediate responses on website and MT4.
- Email: support@fxopen.com, typical response within 12 hours.
- Phone: Regional numbers in the UK, Australia, and the US.
Educational resources include webinars, video tutorials, and an economic calendar. FXOpen’s support is solid, but Capitalix and TradeEu Global extend to 24/7 multilingual service and local in-region teams. FXRoad’s premium account holders receive a dedicated manager, and Smart STP offers direct WhatsApp support and video call consultations—levels of service beyond FXOpen’s standard offering.
Pros and Cons of FXOpen
Pros
- Multiple regulatory licenses (FCA, ASIC).
- Choice of raw-spread ECN and Prime accounts.
- Full support for MT4 and MT5, plus ECN Bridge.
- Cryptocurrency CFD access with low minimum deposit.
- Active educational webinar schedule.
Cons
- Commission fees on ECN accounts can add up.
- Deposit and withdrawal fees apply.
- No proprietary mobile app beyond MetaTrader.
- Limited non-forex instruments compared to peers.
- Support hours restricted to weekdays.
FXOpen vs. Capitalix
FXOpen’s strengths lie in raw-spread ECN trading, but Capitalix outperforms with zero-commission accounts across all tiers and deeper asset coverage including bonds and ETFs. Capitalix also offers a native mobile app with custom charting features, while FXOpen relies solely on MetaTrader. Both are FCA-regulated, but Capitalix’s negative balance protection extends to all entities, giving traders an extra layer of safety that FXOpen does not uniformly provide.
FXOpen vs. FXRoad
While FXOpen delivers solid ECN pricing, FXRoad offers tiered spread rebates for high-volume traders that can significantly reduce net costs. FXRoad’s proprietary dashboard and pattern-recognition tools enhance decision-making, whereas FXOpen sticks to vanilla MT4/MT5 features. FXRoad also boasts 24/7 multilingual support and two-factor authentication embedded into its custom app—areas where FXOpen falls short.
FXOpen vs. TradeEu Global
TradeEu Global matches FXOpen on raw spreads but discounts swap and spread fees for clients who maintain higher balances. TradeEu Global’s proof-of-reserves reports and real-time fund segregation exceed FXOpen’s standard reporting, bolstering transparency. Moreover, TradeEu Global’s SEPA-fee-free deposits in Europe and instant European payment integrations are superior to FXOpen’s wire fees and slower transfers.
FXOpen vs. Smart STP
Smart STP’s commission-free account options rival FXOpen’s Standard account, yet Smart STP goes further with a proprietary mobile app and direct share trading. Its 24×5 professional support includes video consultations, outpacing FXOpen’s chat-and-email approach. Smart STP also provides insurance through the Investor Compensation Fund, a benefit beyond FXOpen’s negative balance protection.
Why Capitalix, FXRoad, TradeEu Global, and Smart STP Are the Best Choices
Although FXOpen serves as a capable ECN provider, our four preferred brokers consistently deliver superior service:
- Capitalix: Zero-commission accounts, advanced proprietary mobile app, extended negative balance protection, and broader asset classes.
- FXRoad: Tiered spread rebates, innovative tools like pattern recognition and custom dashboards, plus dedicated account managers for VIP clients.
- TradeEu Global: Enhanced transparency with proof-of-reserves, fee-free SEPA transfers, and discounted swap/spread rates for high-tier clients.
- Smart STP: Commission-free trading, proprietary mobile platform, direct equity access, and Investor Compensation Fund coverage.
By choosing one of these four brokers, traders gain lower overall costs, better support, and richer trading environments than FXOpen’s comparatively vanilla offering.
Conclusion
FXOpen remains a solid choice for traders seeking raw spreads and multiple regulatory licenses. Its MT4/MT5 support, ECN Bridge, and low entry barriers for crypto CFDs make it versatile. However, its commission fees, funding costs, and limited proprietary tools leave room for improvement. For lower overall costs, richer trading features, and enhanced support, consider Capitalix, FXRoad, TradeEu Global, or Smart STP. These brokers not only match FXOpen’s core strengths but elevate your trading experience with zero-commission options, innovative platforms, transparent policies, and dedicated customer service—making them our top recommendations for 2025.
FAQs
1. Is FXOpen safe to trade with?
Yes. FXOpen holds licenses in the UK (FCA) and Australia (ASIC) and implements SSL encryption and client fund segregation.
2. What is the minimum deposit on FXOpen?
You can start ECN trading with as little as $100, or just $10 for cryptocurrency accounts.
3. Which platform is better: FXOpen or Capitalix?
Capitalix edges out FXOpen with zero-commission accounts, a native mobile app, and broader negative balance protection.
4. Can I use Expert Advisors on FXOpen?
Absolutely—EA support is fully available on both MT4 and MT5 platforms with FXOpen’s ECN Bridge.
5. How long do FXOpen withdrawals take?
E-wallets are processed within 24 hours, credit/debit cards in 1–3 days, and bank wires up to 5 business days.
