Overall, FXOpen can be summarised as a trustworthy and highly regulated Forex Broker that is very competitive in terms of its trading fees. FXOpen offers access to four retail and three PAMM accounts and Impressive Affiliate Program Options. FXOpen has a trust score of 89 out of 99.
| 🔎 Broker | 🥇 FXOpen |
| 📈 Order Execution | 4/5 |
| 💴 Commissions and Fees | 4/5 |
| 📉 Range of Markets | 4/5 |
| 📊 Variety of Markets | 4/5 |
| ⏰ Withdrawal Speed | 4/5 |
| 🥰 Customer Support | 4/5 |
| 💻 Trading Platform | 4/5 |
| 🖍️ Education | 3/5 |
| 🗂️ Research | 3/5 |
| ↪️ Regulation | 4/5 |
| 📲 Mobile Trading | 4/5 |
| 💯 Trust Score | 89% |
FXOpen Review – Analysis of Brokers’ Main Features
- ☑️ FXOpen Overview
- ☑️ FXOpen Detailed Summary
- ☑️ FXOpen Advantages over Competitors
- ☑️ Who will Benefit from Trading with FXOpen?
- ☑️ FXOpen Safety and Security
- ☑️ FXOpen Affiliate Program Features
- ☑️ FXOpen Minimum Deposit
- ☑️ FXOpen Account Types and Features
- ☑️ How to open an FXOpen Account in 8 Easy Steps
- ☑️ How to Close an FXOpen Account
- ☑️ FXOpen MAM / PAMM Features
- ☑️ Social Trading with FXOpen
- ☑️ FXOpen Trading Platforms
- ☑️ Which Markets Can You Trade with FXOpen?
- ☑️ FXOpen Fees, Spreads, and Commissions
- ☑️ FXOpen Deposits and Withdrawals
- ☑️ FXOpen Education and Research
- ☑️ FXOpen Customer Support
- ☑️ FXOpen VPS Review
- ☑️ FXOpen Cashback Rebates Features and Conditions
- ☑️ FXOpen Web Traffic Report
- ☑️ FXOpen vs. Markets.com vs. XM – A Comparison
- ☑️ FXOpen Alternatives
- ☑️ FXOpen Awards and Recognition
- ☑️ Our Experience with FXOpen
- ☑️ Recommendations according to our in-depth review of FXOpen
- ☑️ FXOpen Customer Reviews
- ☑️ FXOpen Pros and Cons
- ☑️ In Conclusion
- ☑️ Frequently Asked Questions
FXOpen Overview
FXOpen is a well-known name in online forex trading, with a rich history dating to its inception in 2003. This broker’s appeal stems from its simplicity, with a minimum deposit requirement as low as $1 for micro accounts, making it an appealing option for traders of all budgets.
Leverage options of up to 1:500 offer the potential for increased profitability, but caution is required due to the associated risks. FXOpen caters to a wide range of clients with its account types, which include Micro, Standard, ECN, and Crypto accounts, each designed to meet specific trading needs.
Furthermore, the broker accepts many payment methods, from traditional bank wire transfers and credit cards to digital payment systems and even cryptocurrency deposits, making trading easier for traders worldwide.
FXOpen Detailed Summary
| 🔎 Broker | 🥇 FXOpen |
| 📈 Headquartered | United Kingdom, Australia, Saint Kitt and Nevis |
| 📉 Global Offices | United Kingdom, Australia, Saint Kitt and Nevis |
| 📊 Local Market Regulators in Malaysia | Securities Commission of Malaysia (SCM) |
| 💹 Foreign Direct Investment in Malaysia | 15.11 billion USD (2022) |
| ⏩ Foreign Exchange Reserves in Malaysia | 103.4 billion USD (July 2025) |
| ▶️ Local office in Kuala Lumpur | None |
| 📌 Governor of SEC in Malaysia | Shaik Abdul Rasheed Abdul Ghaffour is the Governor of the Central Bank of Malaysia |
| 📍 Accepts Malaysia Traders | Yes |
| 🔢 Year Founded | 2005 |
| ☎️ Malaysia Office Contact Number | None |
| 🖇️ Regulation | ASIC, FCA, CySEC |
| 📈 SCM Regulation | None |
| 📉 Regional Restrictions | United States |
| ☪️ Islamic Account | ✅Yes |
| 🆓 Demo Account | ✅Yes |
| ⏲️ Non-expiring Demo | ✅Yes |
| ⌚ Demo Duration | Unlimited |
| 🔟 Retail Investor Accounts | 4 Retail, 3 PAMM |
| ⚙️ PAMM Accounts | ✅Yes |
| 👤 Affiliate Program | Yes, White Label, Affiliate, Introducing Broker, Regional Representative |
| 💻 Order Execution | Instant, Market |
| 🖥️ OCO Orders | ✅Yes |
| ✏️ One-Click Trading | ✅Yes |
| 📌 Scalping | ✅Yes |
| 📍 Hedging | ✅Yes |
| 🗞️ Expert Advisors | ✅Yes |
| 📰 News Trading | ✅Yes |
| 🔖 Trading API | ✅Yes |
| 🏷️ Starting spread | 0.0 pips (floating) |
| 💴 Minimum Commission per Trade | From $1.5 - $3.5, according to the account balance |
| 💵 Decimal Pricing | 5th Decimal after the comma |
| ↪️ Margin Call | 100% - 20% |
| ⛔ Stop-Out | 50% - 10% |
| 📉 Minimum Trade Size | 0.01 lots |
| 📈 Maximum Trade Size | Unlimited |
| 🪙 Crypto trading offered | ✅Yes |
| 🚩 Offers an MYR Account | None |
| 👥 Dedicated Malaysia Account Manager | None |
| 📊 Maximum Leverage | 1:500 |
| ❌ Leverage Restrictions for Malaysia | None |
| 💷 Minimum Deposit (MYR) | 5 MYR ($1) |
| 💶 Deposit Currencies | USD, EUR, IDR, GBP, BTC, BCH, LTC, ETH, UST, USDT, THB |
| 💵 MYR Deposits Allowed | None |
| 💴 Account Base Currency | USD, AUD, CHF, EUR, GBP, JPY, RUB, SGD, Gold, mBTC (depends on the account type) |
| ✔️ Active Malaysia Trader Stats | 4 million+ |
| 📌 Active Malaysian-based FXOpen customers | Unknown |
| 📍 Malaysia Daily Forex Turnover | 15 billion USD (Average for August 2025) |
| ⏰ Minimum Withdrawal Time | Instant |
| ⏱️ Maximum Estimated Withdrawal Time | 2 - 5 Days |
| ⏲️ Instant Deposits and Instant Withdrawals | ✅Yes |
| 🔁 Segregated Accounts with Malaysian Banks | None |
| 🖥️ Trading Platform Time | UTC +3 |
| ⌚ Observe DST Change | ✅Yes |
| ⏲️ DST Change Time zone | Eastern Standard Time (EST) |
| 💴 Offers USD/MYR currency pair | None |
| 💵 USD/MYR Average Spread | None |
| 📈 Offers Malaysian Stocks and CFDs | None |
| 📉 Languages supported on the Website | English, French, German, Italian, Spanish, Turkish, Arabic, Chinese, Russian, Malaysian, Hungarian, etc. |
| 📊 Customer Support Languages | Multilingual |
| ➡️ Copy Trading Support | ✅Yes |
| ⏰ Customer Service Hours | 24/5 |
| 🥰 Malaysian-based customer support | None |
| 🎁 Bonuses and Promotions for Malaysia Traders | ✅Yes |
| 🖍️ Education for Malaysian beginners | ✅Yes |
| 💻 Proprietary trading software | None |
| 😎 Most Successful Trader in Malaysia | Rayn Lim (Net Worth is private) |
| ❤️ Is FXOpen a safe broker for Malaysian Traders | ✅Yes |
| 🔟 Rating for FXOpen Malaysia | 8/10 |
| 💯 Trust score for FXOpen Malaysia | 89% |
FXOpen Advantages over Competitors
FXOpen has the following advantages over competitors:
- ✅ FXOpen offers various financial instruments, including currency pairs, futures, stocks, and cryptocurrencies. This variety allows traders to diversify their portfolios by exploring different markets.
- ✅ Compared to other brokers, FXOpen is known for its competitive fee structure. This cost-effectiveness can greatly benefit traders by lowering trading costs.
- ✅ FXOpen offers a variety of bonus programs to attract and support traders, particularly beginners. These bonuses are useful tools for traders to gain practical experience and build confidence before entering the market.
- ✅ FXOpen differentiates itself through its proprietary price aggregation technology. Thanks to this innovation, clients can now take advantage of some of the industry’s most competitive spreads and low trading costs. It’s a feature that can help you trade more profitably.
- ✅ FXOpen goes above and beyond by providing its clients with VPS (Virtual Private Server) services. This accessibility, combined with flexibility and speed, simplifies the trading process, resulting in a smoother and more efficient trading experience for traders.
and much, MUCH more!
Who will Benefit from Trading with FXOpen?
FXOpen caters to a wide variety of traders by providing instruments and platforms suited to their specific requirements. Listed below are some of the groups that can benefit from FXOpen trading:
- ✅ For those interested in commodity trading, FXOpen provides access to various metals and energy markets with tight spreads. In addition to being highly customizable, their commodity trading platform provides access to advanced trading tools and educational resources, thereby assisting commodity traders in their endeavors.
- ✅ FXOpen facilitates cryptocurrency trading for cryptocurrency enthusiasts. This includes trading CFDs on cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. FXOpen’s cryptocurrency trading platform is highly customizable and offers access to other trading instruments such as forex, indices, and commodities, providing a well-rounded trading experience in the cryptocurrency market.
- ✅ FXOpen allows stock traders to speculate on the future share prices of companies using contracts for difference (CFDs). Their trading platform offers access to other trading instruments, including forex, indices, and cryptocurrencies. This diversity allows stock traders to diversify their portfolios and explore various markets.
- ✅ FXOpen provides novice traders with valuable resources. Beginners can practice trading in a risk-free environment with a demo account, gaining valuable experience before entering the real market. In addition, the Micro Account requires only a $1 initial deposit, making it accessible to traders with limited funds.
- ✅ Traders with experience can benefit from FXOpen’s true ECN trading environment. This configuration ensures rapid execution, ample liquidity, and competitive spreads, essential for seasoned traders seeking optimal trading conditions. FXOpen also provides a variety of highly customizable trading platforms, such as MetaTrader 4 and MetaTrader 5, which include advanced features like copy trading and automated trading.
How diverse is FXOpen’s asset offering compared to others?
FXOpen offers a variety of financial instruments but offers fewer than competitors.
How does FXOpen handle slippage compared to others?
FXOpen’s advanced technology frequently results in minimal slippage, providing a more secure trading environment.
FXOpen Safety and Security
FXOpen Regulation in Malaysia
FXOpen is not regulated by the Securities Commission of Malaysia (SCM). However, FXOpen’s global regulations are listed in the table below.
FXOpen Global Regulations
| 🔎 Registered Entity | 🌎 Country of Registration | 📌 Registration Number | 📍 Regulatory Entity | 📈 Tier | 📉 License Number/Ref |
| 1️⃣ FXOpen Ltd | United Kingdom | 07273392 | FCA | 1 | 579202 |
| 2️⃣ FXOpen AU Pty Ltd | Australia | ABN 61 143 678 719 | ASIC | 1 | AFSL 412871 |
| 3️⃣ FXOpen EU Ltd | Cyprus | 310300 | CySEC | 2 | 194/13 |
FXOpen Protection of Client Funds
| 🔎 Security Measure | ℹ️ Information |
| 🔒 Segregated Accounts | ✅Yes |
| 🗝️ Compensation Fund Member | Yes (The Financial Commission) |
| 🔏 Compensation Amount | 20,000 EUR |
| 🔐 SSL Certificate | ✅Yes |
| 🔑 2FA (Where Applicable) | ✅Yes |
| 🔓 Privacy Policy in Place | ✅Yes |
| 🔒 Risk Warning Provided | ✅Yes |
| 🗝️ Negative Balance Protection | ✅Yes |
| 🔏 Guaranteed Stop-Loss Orders | None |
Security while trading with FXOpen
The trading platforms of FXOpen are built with strong security features such as advanced encryption and authentication protocols. These safeguards are in place to protect clients’ personal and financial information from potential threats. Furthermore:
- ✅ FXOpen is regulated by three major authorities – the FCA, CySEC, and ASIC. This multi-regulatory approach demonstrates the broker’s commitment to the highest financial regulation and client protection standards.
- ✅ FXOpen places a high value on transparency. They provide key information documents, remuneration policies, Pillar III disclosure principles, grievance policies, disclaimers, and risk warnings. These documents provide clients with the knowledge they need to make sound trading decisions.
- ✅ FXOpen provides secure payment options such as bank transfers authenticated directly with the bank via a secure, read-only connection. These safeguards are in place to protect clients’ funds from fraud and unauthorized access.
- ✅ FXOpen UK is authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom. Client funds are held in fully segregated UK bank accounts, ensuring they are separate from the company’s operational funds. This segregation protects if the broker becomes insolvent.
Finally, Negative balance protection, mandated by the FCA, protects clients from losing more than their initial deposit. This safeguard is especially useful during market volatility, ensuring traders’ financial security.
Do any top-tier financial authorities regulate FXOpen?
Yes, FXOpen is regulated by several internationally renowned financial authorities, including FCA, ASIC, and CySEC.
Does FXOpen offer any insurance on client funds?
Yes, FXOpen provides certain safeguards for client funds per regulatory requirements.
FXOpen Affiliate Program Features
The FXOpen Affiliate Program has the following notable features:
- ✅ The Affiliate Program provides real-time reporting, which allows affiliates to track their earnings and the performance of their referred clients. This real-time data enables affiliates to make informed decisions and improve their marketing strategies.
- ✅ FXOpen’s Affiliate Program is divided into three levels. This means that affiliates can earn commissions on direct referrals and referrals brought in by referred affiliates. This multi-level approach increases the possibility of commission earnings.
- ✅ FXOpen offers affiliates a suite of marketing tools, including banners, landing pages, and widgets. These user-friendly and adaptable resources allow affiliates to tailor their promotional efforts to their specific preferences and needs.
- ✅ FXOpen demonstrates its dedication to affiliate success by providing dedicated support. A team of experienced professionals is on hand to answer affiliate questions and provide assistance as needed. This ensures that affiliates have the resources to succeed in the program.
Affiliates stand to earn up to 90% of FXOpen’s trading commission. This generous commission structure makes it an appealing opportunity for those seeking significant passive income.
How to open an Affiliate Account with FXOpen
To register an Affiliate Account, Malaysian traders can follow these steps:
- ✅ Navigate to the Affiliate Program page on the FXOpen website.
- ✅ Locate and click the “Register” button on the Affiliate Program page. Fill in your personal information on the registration form.
- ✅ You must create an FXOpen account, an eWallet, as part of the registration process. Your partnership remuneration will be credited to this account.
- ✅ Read and accept any important documents or terms and conditions provided during registration.
- ✅ After filling out all of the required information and agreeing to the terms, submit the registration form.
- ✅ After submitting your registration, you must wait for FXOpen’s approval. This step ensures that the company reviews and processes your application.
- ✅ FXOpen will provide you with a unique referral link once your application has been approved. This is the link you will send to potential clients.
Share your referral link with people who are interested in trading with FXOpen. You will be paid a commission for each client who signs up and trades through your referral link.
Are there any specific tools or widgets provided to FXOpen affiliates?
Yes, FXOpen provides its affiliates with various promotional tools, including banners, landing pages, and tracking links.
Can affiliates promote FXOpen across multiple platforms and channels?
Yes, affiliates can promote FXOpen on websites, blogs, social media platforms, and other channels to reach a larger audience.
Are there any fees associated with joining FXOpen’s affiliate program?
No, there are not. Typically, joining FXOpen’s affiliate program is free, allowing partners to earn with no upfront investment.
Can I track my referral earnings in real-time with FXOpen?
Yes, FXOpen provides affiliates with a dedicated dashboard for real-time monitoring of referrals and earnings.
FXOpen Minimum Deposit
| 🔎 Live Account | 💵 Minimum Dep. |
| 🥇 Micro | 5 MYR / $1 |
| 🥈 STP | 50 MYR / $10 |
| 🥉 ECN | 470 MYR / $100 |
| 🏅 Crypto | 50 MYR / $10 |
What is the minimum deposit required to start trading with FXOpen?
Malaysians can register an account for $1 (5 MYR) on the Micro Account.
Are there any additional fees associated with the initial deposit?
No, FXOpen does not charge anything other than the minimum deposit when Malaysian traders register a trading account.
FXOpen Account Types and Features
| 🔎 Live Account | 💴 Minimum Dep. | 📈 Average Spread | 💵 Commissions | 💶 Average Trading Cost |
| 🥇 Micro | $1 | 0.0 pips | None | 1 USD |
| 🥈 STP | $10 | 1 pip | From 0.1% on Crypto | 10 USD |
| 🥉 ECN | $100 | 0.0 pips | $1.5 | 15 USD |
| 🪙 Crypto | $10 | 1 pip | 0.5% trade volume | Variable |
FXOpen Micro Account
The Micro account is designed for novice traders and those who transact in smaller volumes. It allows traders to begin trading with as little as $1, and transaction sizes can begin at 0.01 micro-lots.
This makes it an excellent choice for those learning the ropes of trading and seasoned traders evaluating new strategies.
| 💵 Minimum Deposit Required | 5 MYR / 1 USD |
| 💶 Account Base Currency | USD |
| 💴 Maximum Account Balance | $3,000 (leverage decreases to 1:100 if this is exceeded) |
| 📈 Spread | Variable, from 0.0 pips |
| 📉 Commission Fee | None |
| 📊 Quote Format | 0.12345 |
| 💹 Trade Execution | Instant |
| ➖ Minimum Position Size | 0.01 micro-lots |
| ➕ Maximum Position Size | $1,000,000 |
| ↪️ Maximum Leverage | 1:500 |
| ➡️ Margin Call | 20% |
| ⛔ Stop-Out | 10% |
| 📈 Maximum Open Orders Allowed | 100 |
| 🆓 Availability of Demo Account | None |
| ☪️ Availability of Islamic Account | Yes (Additional Commissions equal to swap rates will apply) |
| 📌 Instruments Available | 28 Forex Pairs Gold Silver |
| 🎁 Access to Bonuses | ✅Yes |
| 📍 Expert Advisors Allowed | ✅Yes |
| 💱 Scalping and Hedging Allowed | ✅Yes |
| 📰 News Trading Allowed | None |
| ☎️ Telephone Trading Allowed | ✅Yes |
| ⏰ Trading Time | Midnight on Monday – 10h59 pm Friday |
| 💳 Dormant Account Fees | $10 for Maintenance $50 for reactivation |
FXOpen STP Account
The STP account provides real market execution and only requires a $10 initial deposit. It is intended for traders who favor tight spreads and a fixed commission structure. The STP model guarantees transparency, a higher fill rate, and the absence of price manipulation.
| 💴 Minimum Deposit Required | 50 / 10 USD |
| 💵 Account Base Currency | USD, EUR, GBP, JPY, RUB, CHF, Gold |
| 💶 Maximum Account Balance | None |
| 📈 Spread | Variable, from 1 pip |
| 📉 Commission Fee | From 0.1% on Crypto |
| 📊 Quote Format | 0.12345 |
| 💹 Trade Execution | Market |
| ▶️ Minimum Position Size | 0.01 micro-lots |
| ⏩ Maximum Position Size | None |
| 🔢 Maximum Leverage | 1:500 |
| 📌 Margin Call | 50% |
| ⛔ Stop-Out | 30% |
| 📍 Maximum Open Orders Allowed | 100 |
| 🆓 Availability of Demo Account | ✅Yes |
| ☪️ Availability of Islamic Account | Yes (Additional Commissions equal to swap rates will apply) |
| 💱 Instruments Available | 50 Forex Pairs Gold Silver |
| 🎁 Access to Bonuses | ✅Yes |
| ↪️ Expert Advisors Allowed | ✅Yes |
| ➡️ Scalping and Hedging Allowed | ✅Yes |
| 📰 News Trading Allowed | ✅Yes |
| ☎️ Telephone Trading Allowed | ✅Yes |
| ⏰ Trading Time | Midnight on Monday – 10h59 pm Friday |
| 💳 Dormant Account Fees | $10 for Maintenance $50 for reactivation |
FXOpen ECN Account
FXOpen’s ECN account is a platform that connects various Forex market participants, such as banks, centralized exchanges, brokers, companies, and private investors. This account type is ideal for high-volume traders seeking the best prices, spreads as low as 0 pips, and seamless order execution.
| 💴 Minimum Deposit Required | 470 MYR / 100 USD |
| 💵 Account Base Currency | USD, AUD, CHF, EUR, GBP, JPY, RUB, SGD, Gold, mBTC |
| 💶 Maximum Account Balance | None |
| 📈 Spread | Variable, from 0.0 pips |
| 📉 Commission Fee | From $1.5 - $3.5, according to the account balance |
| 📊 Quote Format | 0.12345 |
| 📌 Minimum Position Size | 0.01 micro-lots |
| 📍 Maximum Position Size | None |
| ↪️ Maximum Leverage | 1:500 |
| ▶️ Margin Call | 100% |
| ⛔ Stop-Out | 50% |
| 💹 Maximum Open Orders Allowed | 100 |
| 🆓 Availability of Demo Account | ✅Yes |
| ☪️ Availability of Islamic Account | Yes (Additional Commissions equal to swap rates will apply) |
| 💱 Instruments Available | 50 Spot Forex CFDs 35+ Crypto CFDs 600+ Share CFDs Index CFDs Spot Metals Commodity CFDs |
| 🎁 Access to Bonuses | ✅Yes |
| 🖇️ Expert Advisors Allowed | ✅Yes |
| 📈 Scalping and Hedging Allowed | ✅Yes |
| 📰 News Trading Allowed | ✅Yes |
| ☎️ Telephone Trading Allowed | ✅Yes |
| ⏰ Trading Time | Midnight on Monday – 10h59 pm Friday |
| 💳 Dormant Account Fees | $10 for Maintenance $50 for reactivation |
FXOpen Crypto Account
FXOpen offers a Crypto account to traders interested in trading popular cryptocurrencies such as Bitcoin and Litecoin against major fiat currencies (USD, EUR, or RUB) in a true ECN environment.
This account type is ideal for traders seeking to profit from the high volatility of the cryptocurrency markets.
| 💴 Minimum Deposit Required | 50 MYR / 10 USD |
| 💵 Account Base Currency | USD, EUR, GBP, RUB, JPY, ETC Bitcoin (mBTC), Litecoin (LTC) |
| 💶 Maximum Account Balance | None |
| 📈 Spread | Variable, from 1 pip |
| 📉 Commission Fee | 0.5% half-turn |
| 📊 Execution | Market |
| 📌 Minimum Position Size | 0.01 micro-lots |
| 📍 Maximum Position Size | None |
| 💹 Maximum Leverage | 1:3 |
| 💱 Margin Call | 30% |
| ⛔ Stop-Out | 15% |
| 🆓 Availability of Demo Account | ✅Yes |
| ☪️ Availability of Islamic Account | No, Swap from 5% per year |
| 🖇️ Instruments Available | 43 Cryptocurrency Pairs |
| 🎁 Access to Bonuses | None |
| ⚙️ Expert Advisors Allowed | ✅Yes |
| ↪️ Scalping and Hedging Allowed | ✅Yes |
| 📰 News Trading Allowed | ✅Yes |
| ☎️ Telephone Trading Allowed | ✅Yes |
| ⏰ Trading Time | 24/7 |
FXOpen Demo Account
FXOpen’s Demo Account is an excellent resource for new and experienced traders. It enables users to practice trading with virtual funds in a risk-free environment.
This is an excellent option for those who want to learn the ins and outs of trading or test new strategies without risking real money. The Demo Account simulates real-world market conditions, allowing traders to gain experience and improve their trading skills.
FXOpen Islamic Account
FXOpen also provides an Islamic Account, also known as a swap-free account. This specialized account is intended for traders who follow Islamic principles and seek Shariah compliance.
One key feature of the Islamic Account is that it does not charge or pay interest on overnight positions, which aligns with the Islamic finance prohibition on Riba (interest).
Despite this distinction, the Islamic Account provides the same features and benefits as other account types, making it a viable option for qualified traders who value Shariah compliance.
FXOpen Base Account Currencies
The base account currencies available to Malaysians include the following:
- ✅ Micro: USD
- ✅ STP: USD, EUR, GBP, JPY, RUB, CHF, Gold
- ✅ ECN: USD, AUD, CHF EUR, GBP, JPY, RUB, SGD, Gold, mBTC
- ✅ Crypto: USD, EUR, GBP, RUB, JPY, ETC Bitcoin (BTC), and Litecoin (LTC)
FXOpen Basic Order Types
FXOpen offers the following Basic Order Types:
- ✅ A market order can be either a buy or a sell order that executes at the current market price. This is the current price displayed on your price chart. If you place a market order, you will be immediately entered at the best available price.
- ✅ Market orders are most effective when a trading opportunity requires prompt action. Click buy/sell at the market to enter the trade immediately.
- ✅ A stop order can be either a buy or sell stop, depending on whether you wish to purchase above or below the market.
- ✅ This is useful for trading breakouts or trend continuation strategies when you want the market to continue moving in the same direction.
Alternatively, if you believe the price will reverse when it reaches a certain price, you can place a limit order.
Pros and Cons FXOpen Account Types and Features
| ✅ Pros | ❎ Cons |
| Traders can expect spreads from 0.0 pips on major currency pairs | There is no MYR-denominated account for Malaysians |
| There is an Islamic Account conversion for Muslim traders | The financial instruments differ per account type |
How does FXOpen cater to novice and experienced traders with its account offerings?
Yes, FXOpen offers accounts suitable for beginners with basic features and advanced accounts for seasoned traders with more complex tools.
Does FXOpen offer any demo accounts for practice?
Yes, FXOpen offers demo accounts so traders can practice without risking real money.
How to open an FXOpen Account in 8 Easy Steps
To open an account with FXOpen, Malaysians can follow these steps:
- ✅ Begin by visiting the FXOpen official website.
- ✅ Find the ‘Open Account’ Button in the top right corner of the homepage.
- ✅ FXOpen may provide different account types such as ECN, STP, or Crypto. Choose the one that best meets your trading requirements.
- ✅ Complete your personal information, including your full name, email address, and phone number.
- ✅ You must submit identification documents per regulatory requirements. A copy of your passport or national ID and a recent utility bill or bank statement are usually required as proof of address.
- ✅ After you submit your documents, the FXOpen team will review them. This procedure can take anywhere from a few hours to several days.
- ✅ Once approved, you can deposit funds into your account using any available payment method.
- ✅ FXOpen may provide trading platforms such as MetaTrader 4 or 5. Install the platform on your device after downloading it.
You can start trading once everything is in place.
Can I start trading before my account is fully verified with FXOpen?
No, while it is possible to deposit funds, full account verification is typically required before live trading at FXOpen.
How does FXOpen ensure the security of personal information during account registration?
FXOpen employs advanced encryption and cybersecurity measures to protect user data during registration.
How to Close an FXOpen Account
To close a live trading account with FXOpen, Malaysian traders can follow these steps:
- ✅ Using your credentials, log in to your FXOpen account.
- ✅ Before closing your account, ensure that all open trades have been closed and that no pending orders exist.
- ✅ You must withdraw any remaining funds in your account.
- ✅ Email or use the live chat feature to notify the customer support team of your intention to close the account.
- ✅ The support team might request specific details or reasons for the closure to improve their services.
- ✅ When your request is processed, you will receive an email confirming your account has been closed.
You can uninstall it from your device if you no longer require it.
Are there any conditions or prerequisites for closing my account?
Yes, there are. Before closing an account, traders must ensure that all open trades have been settled and that any pending fees or charges have been paid.
Will my trading history be preserved after account closure?
Although FXOpen may retain trading records for regulatory purposes, traders should download their history for personal use.
FXOpen MAM / PAMM Features
| 🔎 Account | 💴 Master Min. Capital | 📈 Average Spread | 💵 Commissions | 💷 Average Trading Cost |
| 🥇 STP | $200 | 0.0 pips | From 0.1% on Crypto | Variable |
| 🥈 ECN | $1,000 | 0.0 pips | $1.5 half-turn | 15 USD |
| 🥉 Crypto | $1,200 | 1 pip | 0.5% | Variable |
FXOpen PAMM STP
PAMM technology is employed in FXOpen STP accounts, allowing Masters to trade within the STP environment. The PAMM STP Account encompasses the following features:
| 💴 Minimum Master Capital | 940 MYR / 200 USD |
| 💵 Account Base Currency | USD, EUR, RUB |
| 💶 Follower Minimum Deposit | Depends on the offered parameter |
| 📈 Spread | Variable, from 0.0 pips |
| 📉 Commission Fee | From 0.1% on Crypto |
| 📊 Execution | Market |
| 📌 Minimum Position Size | 0.01 micro-lots |
| 📍 Maximum Position Size | None |
| 💹 Maximum Leverage | 1:100 |
| ▶️ Margin Call | 50% |
| ⛔ Stop-Out | 30% |
| ☪️ Availability of Islamic Account | ✅Yes |
| ⚙️ Instruments Available | 50 Forex Pairs Gold Silver |
| ↪️ Expert Advisors Allowed | ✅Yes |
| 🖇️ Scalping and Hedging Allowed | ✅Yes |
| 📰 News Trading Allowed | ✅Yes |
| ☎️ Telephone Trading Allowed | ✅Yes |
| ⏰ Trading Time | Midnight on Monday – 10h59 pm Friday |
| 💳 Dormant Account Fees | $10 for Maintenance $50 for reactivation |
FXOpen PAMM ECN
The foundation of ECN accounts at FXOpen is PAMM Technology. Moreover, these trading accounts enable the Master to participate in the ECN market actively. Here are some notable features of this account:
| 💴 Minimum Master Capital | 4,600 MYR / 1,000 USD |
| 💵 Account Base Currency | USD, AUD, CHF, EUR, GBP, JPY, RUB |
| 💶 Follower Minimum Deposit | Depends on the offered parameter |
| 📈 Spread | Variable, from 0.0 pips |
| 📉 Commission Fee | From $1.5 half-turn |
| 📊 Execution | Market |
| 📌 Minimum Position Size | 0.01 micro-lots |
| 📍 Maximum Position Size | None |
| 🖇️ Maximum Leverage | 1:100 |
| 💹 Margin Call | 100% |
| ⛔ Stop-Out | 50% |
| ☪️ Availability of Islamic Account | ✅Yes |
| ▶️ Instruments Available | 50 Forex Pairs Gold Silver CFDs Energies |
| ⏩ Expert Advisors Allowed | ✅Yes |
| ✔️ Scalping and Hedging Allowed | ✅Yes |
| 📰 News Trading Allowed | ✅Yes |
| ☎️ Telephone Trading Allowed | ✅Yes |
| ⏰ Trading Time | Midnight on Monday – 10h59 pm Friday |
| 💳 Dormant Account Fees | $10 for Maintenance $50 for reactivation |
FXOpen PAMM Crypto
When you become a Master and open a PAMM Crypto account, you unlock the opportunity to invest in one of the most profitable assets of recent times. This will undoubtedly attract more potential Followers to join your portfolio.
This platform allows Followers to profit from trading cryptocurrencies without constantly monitoring market trends or making strategic decisions.
The FXOpen PAMM technology-based Crypto accounts allow Contracts for Difference (CFDs) trading in Bitcoin and Litecoin against major currencies such as the US dollar, euro, and Russian ruble. Here are some notable features of our PAMM Crypto Account:
| 💴 Minimum Master Capital | 5,600 MYR / 200 USD to create the account, 1,000 USD to create offers |
| 💵 Account Base Currency | USD, AUD, CHF, EUR, GBP, JPY, RUB |
| 💶 Follower Minimum Deposit | Depends on the offered parameter |
| 📈 Spread | Variable, from 1 pip |
| 📉 Commission Fee | 0.5% of the transaction volume, half-turn |
| 📊 Execution | Market |
| 📌 Minimum Position Size | 0.01 micro-lots |
| 📍 Maximum Position Size | None |
| ▶️ Maximum Leverage | 1:3 |
| ⏩ Margin Call | 30% |
| ⛔ Stop-Out | 15% |
| ☪️ Availability of Islamic Account | None. Swap is 10% yearly |
| 💹 Instruments Available | All crypto pairs with BTC and LTC |
| 💱 Expert Advisors Allowed | ✅Yes |
| ✔️ Scalping and Hedging Allowed | ✅Yes |
| 📰 News Trading Allowed | ✅Yes |
| ☎️ Telephone Trading Allowed | ✅Yes |
| ⏰ Trading Time | 24/7 |
| 💳 Dormant Account Fees | None |
How does FXOpen ensure transparency in its MAM/PAMM system?
FXOpen’s MAM/PAMM offerings include detailed performance metrics and real-time reporting for transparency.
How does FXOpen handle risk management for MAM/PAMM accounts?
FXOpen offers a variety of risk management tools that allow managers and investors to set stop-loss and take-profit levels.
Social Trading with FXOpen
FXOpen offers a flexible copy trading platform, which lets clients replicate the trades of proficient traders from across the globe. This broker has partnered with well-regarded social trading platforms, including TradingView.
The versatile platform empowers users to cease copying trades whenever they please or set up automatic criteria for discontinuation. Furthermore, investors can effortlessly adjust their investments according to their preferences.
How does FXOpen ensure the credibility of traders on its social trading platform?
FXOpen vets and ranks traders according to performance, ensuring that only reputable traders are featured.
Can I interact with or seek advice from traders I follow on FXOpen’s platform?
Yes, FXOpen’s social trading platform offers community members communication and discussion tools.
FXOpen Trading Platforms
FXOpen offers Malaysian traders a choice between these trading platforms:
- ✅ MetaTrader 4
- ✅ MetaTrader 5
- ✅ TickTrader
- ✅ TradingView
FXOpen provides a variety of trading platforms to accommodate various trading styles and preferences. The broker offers clients the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are available for desktop and mobile devices.
Both platforms provide advanced features such as copy trading and automated trading, making them appropriate for traders of all skill levels.
From Arabic to Vietnamese, the MT4 platform is available in 39 languages and includes popular features such as one-click trading, multiple order types, and customizable indicators.
FXOpen also provides its own proprietary platform, TickTrader, which includes many of the same features as MetaTrader and some new ones.
The platform offers level 2 pricing, a strategy back tester, and a trading alert system. FXOpen provides TradingView, a web-based platform with advanced charting and analysis tools.
TradingView is appropriate for traders who prefer a browser-based platform and want to trade diverse markets and instruments. Overall, FXOpen’s trading platforms offer traders various options to meet their specific needs and preferences.
Pros and Cons FXOpen Trading Platforms
| ✅ Pros | ❎ Cons |
| Malaysians have access to MT4 and MT5 | There is no access to cTrader |
Can I use automated trading strategies on FXOpen’s platforms?
Yes, FXOpen’s platforms are compatible with Expert Advisors (EAs) and other automated trading tools.
Can I access multiple accounts from a single FXOpen trading platform?
Yes, FXOpen’s platforms permit seamless management and switching between multiple accounts.
Which Markets Can You Trade with FXOpen?
Malaysian traders can expect the following range of markets from FXOpen:
- ✅ Forex
- ✅ Indices
- ✅ Commodities
- ✅ Shares
- ✅ ETFs
- ✅ Cryptocurrencies
Financial Instruments and Leverage offered by FXOpen
| 🔎 Instrument | 🔟 Number of Assets Offered | ↪️ Max Leverage Offered |
| 📈 Forex | 50 | 1:500 |
| 📉 Indices | 10 | 1:100 |
| 🍎 Commodities | 5 | 1:500 |
| 📊 Shares | 600+ | 1:5 |
| 💹 ETFs | 37 | 1:5 |
| 🪙 Cryptocurrencies | 27 | 1:3 |
Pros and Cons FXOpen Range of Markets
| ✅ Pros | ❎ Cons |
| FXOpen offers several asset classes that can be traded | There is a limited product portfolio when compared to other brokers |
| Malaysian traders can easily trade over 600 international share CFDs | FXOpen does not provide equal access to all markets on the account types |
Broker Comparison for a Range of Markets
| 🔎 Broker | 🥇 FXOpen | 🥈 Markets.com | 🥉 XM |
| 📈 Forex | ✅Yes | ✅Yes | ✅Yes |
| 💎 Precious Metals | ✅Yes | ✅Yes | ✅Yes |
| 📉 ETFs | None | ✅Yes | None |
| 📊 CFDs | ✅Yes | ✅Yes | ✅Yes |
| 💹 Indices | ✅Yes | ✅Yes | ✅Yes |
| ⏩ Stocks | ✅Yes | ✅Yes | ✅Yes |
| 🪙 Cryptocurrency | ✅Yes | ✅Yes | ✅Yes |
| 📌 Options | None | None | None |
| 💡 Energies | ✅Yes | ✅Yes | ✅Yes |
| 📍 Bonds | None | ✅Yes | None |
How diverse is the cryptocurrency offering at FXOpen?
FXOpen offers a variety of prominent cryptocurrencies for trading, including major coins and a select number of altcoins.
Can I engage in options or futures trading at FXOpen?
No, FXOpen focuses primarily on spot markets.
FXOpen Fees, Spreads, and Commissions
FXOpen Spreads
FXOpen applies variable spreads that vary according to account type, traded financial instrument, and prevailing market conditions on each trading day. Below are some typical spreads that traders can expect when dealing with FXOpen:
| 🔎 Instrument | 🥇 Micro | 🥈 STP | 🥉 ECN | 🪙 Crypto | 🎖️ PAMM STP | 🏅 PAMM ECN | 🪙 PAMM Crypto |
| 💴 EUR/USD | 0.0 pips | 1 pip | 0.0 pips | N/A | 1 pip | 0.0 pips | N/A |
| 💵 XAU/USD | N/A | 1 pip | 1 pip | N/A | 1 pip | 1 pip | N/A |
| 💶 XAG/USD | N/A | 5 pips | 5 pips | N/A | 5 pips | 5 pips | N/A |
| 💷 BTC/EUR | N/A | N/A | N/A | 1 pip | N/A | N/A | 0.0 pips |
| 💴 BTC/USD | N/A | N/A | N/A | 1 pip | N/A | N/A | 0.0 pips |
FXOpen Commissions
FXOpen is expanding the availability of commission-free transactions to include Micro Accounts. However, trading activities carried out via ECN, Crypto, PAMM ECN, and PAMM Crypto accounts will be subject to commissions based on specific categorizations as detailed below:
ECN Accounts – Forex Commission
| 📌 Account Balance | 📍 Commission per 1 lot traded (100,000 units) |
| <$1,000 | $3.50 |
| $1,000 - $25,000 | $2.50 |
| $25,000 - $250,000 | $1.80 |
| $250,000> | $1.50 |
Discounted Commission for High-Volume Traders
| 🔎 Account Balance | 1️⃣ Trading Volume (Monthly) | 2️⃣ Trading Volume (Monthly) | 3️⃣ Trading Volume (Monthly) | 4️⃣ Trading Volume (Monthly) |
| 🔍 Account Balance | $5 Million | $5 - $25 million | $25 - $250 Million | $250 Million> |
| <$1,000 | $3.50 | $3.50 | $1.80 | $1.50 |
| $1,000 - $25,000 | $2.50 | $2.50 | $1.80 | $1.50 |
| $25,000 - $250,000 | $1.80 | $1.80 | $1.80 | $1.50 |
| $250,000> | $1.50 | $1.50 | $1.50 | $1.50 |
Discounted Commission on the TickTrader Platform
| 🔎 Account Balance | 💵 Commission per 1 lot traded | 💶 Commission per 1 lot traded |
| - | Market Orders | Limit Orders |
| <$1,000 | $3.50 | $3.50 |
| $1,000 - $25,000 | $2.50 | $2.00 |
| $25,000 - $250,000 | $1.80 | $1.50 |
| $250,000> | $1.50 | $1.00 |
ECN Accounts – CFD Commission
- ✅ Commission per standard lot (per side) according to account balance
| 🔎 CFD | <$1,000 | $1,000 - $25,000 | $25,000> |
| ▶️ US Crude | 0.005% | 0.0025% | 0.0018$ |
| ⏩ UK Brent | 0.005% | 0.0025% | 0.0018$ |
| ↪️ US Natural Gas | 0.005% | 0.0025% | 0.0018$ |
ECN Accounts – Share CFD Commission
| 🔎 Account Balance | 🥇 MT4/MT5 | 🥈 TickTrader | 🥉 TickTrader Limit |
| <$1,000 | 0.1% | 0.1% | 0.1% |
| $1,000 - $25,000 | 0.1% | 0.1% | 0.08% |
| $25,000 - $250,000 | 0.1% | 0.1% | 0.06% |
| $250,000> | 0.1% | 0.08% | 0.04% |
STP Account – Crypto CFD Commission
| 🔎 Account Balance | 🥇 MT4/MT5 | 🥈 TickTrader | 🥉 TickTrader Limit |
| <$1,000 | 0.25% | 0.25% | 0.15% |
| $1,000 - $25,000 | 0.25% | 0.25% | 0.10% |
| $25,000 - $250,000 | 0.20% | 0.20% | 0.10% |
| $250,000> | 0.10% | 0.10% | 0.00% |
FXOpen Overnight Fees
FXOpen imposes overnight, rollover fees on open positions beyond a single trading day.
These fees encompass the cost of borrowing funds to maintain a particular position. Furthermore, their calculation hinges on the differential in interest rates between the two currencies constituting the currency pair being traded.
In cases where the interest rate applicable to the currency being acquired exceeds that of the currency being divested, traders stand to accrue a rollover credit. Conversely, traders incur a rollover fee if the interest rate linked to the currency being purchased is inferior to that of the sold currency.
FXOpen’s assessment of overnight fees, or rollovers, exhibits variability contingent on factors such as the currency pair under consideration, the trading account’s classification, and the assumed position’s magnitude.
These fees are automatically tabulated and debited after each trading day, and their presence is duly reflected in the account statement.
FXOpen Deposit and Withdrawal Fees
Deposit Fees
FXOpen charges the following deposit fees:
- ✅ ADVCash – 0.5%
- ✅ Bitcoin – 0.0003 BTC
- ✅ Ethereum – 5 UST/0.001 ETH
- ✅ Tether – 5 UST/5USDT
Withdrawal Fees
FXOpen charges the following deposit fees:
- ✅ PayPaid – 2%
- ✅ WebMoney – 0.8%
- ✅ FasaPay – 0.5%
- ✅ ADVCash – 0.5%
- ✅ Bitcoin – 0.001 BTC
- ✅ Bitcoin Cash – 0.0005 BCH
- ✅ Litecoin – 0.005 LTC
- ✅ Emercoin – 0.1 EMC
- ✅ Ethereum – 0.005 ETH/15 UST
- ✅ Tether – 15 USDT/15UST
- ✅ Bank Transfer – 15 EUR, GBP, 15 CHF, or 30 USD
FXOpen Inactivity Fees
FXOpen charges the following Maintenance and Inactivity Fees:
- ✅ Micro Account: 10 USD Maintenance, 50 USD reactivation
- ✅ STP Account: 10 USD Maintenance, 50 USD reactivation
- ✅ ECN Account: 10 USD Maintenance, 50 USD reactivation
- ✅ PAMM STP: 10 USD Maintenance, 50 USD reactivation
- ✅ PAMM ECN: 10 USD Maintenance, 50 USD reactivation
FXOpen Currency Conversion Fees
If traders deposit or withdraw funds using currencies different from their pre-selected base account currency, they will incur Currency Conversion fees.
Pros and Cons FXOpen Trading and Non-Trading Fees
| ✅ Pros | ❎ Cons |
| There is an ultra-low minimum deposit of $1 (5 MYR) | FXOpen does not offer MYR-denominated accounts, subjecting traders to currency conversion fees |
| FXOpen has commission-free trading accounts | There are fees on deposits and withdrawals |
| Some accounts can expect zero-pip spreads on major instruments | Inactivity fees apply to dormant accounts |
How are overnight or swap fees handled at FXOpen?
FXOpen applies swap rates to overnight positions, which can be credited or debited according to the trade direction and market rates.
Does FXOpen charge for deposits or withdrawals?
Yes, FXOpen charges deposit and withdrawal fees.
FXOpen Deposits and Withdrawals
FXOpen offers Malaysian traders the following deposit and withdrawal methods:
- ✅ PayPaid
- ✅ WebMoney
- ✅ FasaPay
- ✅ ADVCash
- ✅ Bitcoin
- ✅ Bitcoin Cash
- ✅ Litecoin
- ✅ Ethereum
- ✅ Tether
- ✅ Emercoin
- ✅ Bank Transfer
- ✅ Credit/Debit Card
- ✅ Easy Bank Transfer
Broker Comparison Deposit and Withdrawals
| 🔎 Broker | 🥇 FXOpen | 🥈 Markets.com | 🥉 XM |
| 1️⃣ Minimum Withdrawal Time | Instant | 24 hours | 1 working day |
| 2️⃣ Maximum Estimated Withdrawal Time | 2 - 5 Days | 7 working days | 5 working days |
| 3️⃣ Instant Deposits and Instant Withdrawals | Yes | Yes, Deposits | Yes, deposits |
FXOpen Deposit Currencies, Deposit and Withdrawal Processing Times
| 🔎 Payment Method | 🪙 Currencies | 📈 Deposit Processing | 📉 Withdrawal Processing |
| 💴 PayPaid | THB | - | Instant |
| 💵 WebMoney | USD | - | Instant |
| 💶 FasaPay | USD, IDR | Instant | Instant |
| 💷 ADVCash | EUR, GBP, USD | Instant | Instant |
| 💳 Bitcoin | BTC | Instant | Instant |
| 💴 Bitcoin Cash | BCH | Instant | Instant |
| 💵 Litecoin | LTC | Instant | Instant |
| 💶 Ethereum | UST, ETH | Instant | Instant |
| 💷 Tether | UST, USDT | Instant | Instant |
| 💳 Emercoin | EMC | - | Instant |
| 💴 Bank Transfer | GBP, USD, EUR, AUD, CHF | 1 – 3 days | 1 – 3 days |
| 💵 Credit/Debit Card | EUR, GBP, USD | 2 – 5 days | 2 – 5 days |
| 💶 Easy Bank Transfer | EUR, GBP | 1 – 3 days | 1 – 3 days |
Pros and Cons FXOpen Deposits and Withdrawals
| ✅ Pros | ❎ Cons |
| There are instant deposits and withdrawals available | There is no support for MYR-denominated accounts |
| Malaysians can choose from several flexible payment methods to fund an account or withdraw funds | There are deposit and withdrawal fees to consider |
Does FXOpen impose any deposit limits?
Yes, Deposit limits can vary depending on the chosen deposit method, with some methods permitting larger deposits than others.
How do I initiate a withdrawal from my FXOpen account?
Traders can request withdrawals through the FXOpen client portal, where they can choose their preferred withdrawal method.
How to make a Deposit with FXOpen
To deposit funds to an account with FXOpen, Malaysian traders can follow these steps:
- ✅ Access your FXOpen account.
- ✅ Select your preferred payment method in the “Deposit” section.
- ✅ Enter the amount you want to deposit and follow the on-screen instructions.
Confirm the transaction and wait for the funds to be credited to your account.
How long do FXOpen Deposits take?
Deposit processing times may vary depending on the payment method chosen. Wire transfer deposits, for example, typically take 3-5 working days to process, whereas Visa, Mastercard, and Trustly deposits are processed quickly.
How do I check the status of my deposit at FXOpen?
Traders can monitor the status of their deposits through the FXOpen client portal, which provides real-time updates.
Can I set up recurring deposits with FXOpen?
While FXOpen primarily supports one-time deposits, traders interested in recurring deposits should contact customer support.
How to Withdraw from FXOpen
To withdraw funds from an account with FXOpen, Malaysian traders can follow these steps:
- ✅ Access your FXOpen account.
- ✅ Select your preferred payment method in the “Withdrawal” section.
- ✅ Enter the withdrawal amount and follow the on-screen instructions.
Wait for the funds to be credited to your account after you confirm the transaction.
How long do FXOpen Withdrawals take?
The payment method used determines the time it takes to process withdrawals. Withdrawals via bank transfer can take longer than other methods, and confirmation of the withdrawal request could take up to 48 hours.
Can I cancel a withdrawal request at FXOpen?
Yes, traders can cancel withdrawal requests via the FXOpen client portal if the withdrawal has not been processed.
Do I need to verify my identity before withdrawing from FXOpen?
Yes, FXOpen requires identity verification to safeguard funds and adhere to regulatory requirements.
FXOpen Education and Research
FXOpen Education
FXOpen offers the following Educational Materials to Malaysian traders:
- ✅ What is Forex?
- ✅ What is a Forex Broker
- ✅ How to start trading
Research and Trading Tool Comparison
| 🔎 Broker | 🥇 FXOpen | 🥈 Markets.com | 🥉 XM |
| 1️⃣ Economic Calendar | ✅Yes | None | ✅Yes |
| 2️⃣ VPS | ✅Yes | None | ✅Yes |
| 3️⃣ AutoChartist | None | None | None |
| 4️⃣ Trading View | ✅Yes | ✅Yes | None |
| 5️⃣ Trading Central | None | None | ✅Yes |
| 6️⃣ Market Analysis | ✅Yes | ✅Yes | ✅Yes |
| 7️⃣ News Feed | ✅Yes | ✅Yes | ✅Yes |
| 8️⃣ Blog | ✅Yes | ✅Yes | ✅Yes |
FXOpen also offers Malaysian traders the following additional Research and Trading Tools:
- ✅ Economic Calendar
- ✅ Market News
- ✅ Market Analysis
- ✅ Market Pulse
- ✅ Forex Forum
- ✅ TradingView
Pros and Cons FXOpen Education and Research
| ✅ Pros | ❎ Cons |
| Traders can access TradingView and VPS with FXOpen | There is a limited range of educational materials |
| There are some educational guides | There are only a few trading tools when compared to other brokers |
Does FXOpen offer educational resources for novice traders?
Yes, FXOpen offers a variety of educational resources, such as webinars, tutorials, and articles, to assist traders of all experience levels.
Does FXOpen offer any courses or certifications for traders?
No, FXOpen does not offer any courses or certifications for traders. However, third-party sites might offer this.
FXOpen Customer Support
| 🔎 Customer Support | 🥇 FXOpen Customer Support |
| ⏰ Operating Hours | 24/5 |
| 📌 Support Languages | Multilingual |
| 📍 Live Chat | Yes |
| 💌 Email Address | Yes |
| ☎️ Telephonic Support | Yes |
| 💖 The overall quality of FXOpen Support | 4/5 |
Pros and Cons FXOpen Customer Support
| ✅ Pros | ❎ Cons |
| Customer support is available in multiple languages 24 hours a day, 5 days a week | Customer support is not available 24/7 |
| FXOpen has extremely helpful and prompt customer support | There is no local office in Malaysia |
Does FXOpen offer support in multiple languages?
Yes, FXOpen offers multilingual customer service to accommodate its international clientele.
Can I schedule a call-back from FXOpen’s support team?
Yes, traders can frequently request a call-back from FXOpen’s support to receive assistance conveniently.
FXOpen VPS Review
FXOpen offers a specialized Forex VPS service that caters specifically to traders in Malaysia to improve their trading performance.
This advanced service showcases our commitment to providing flexible, efficient, and client-focused solutions. Malaysian traders can take advantage of FXOpen’s Forex VPS service for one month without cost.
This exceptional offer is available to clients who either maintain a minimum equity of $5,000 in their trading accounts by the end of each month or achieve trading volumes totaling $10,000 within a given month.
By meeting these requirements, traders will enjoy full access to FXOpen’s VPS service, which empowers them to refine their trading strategies.
In cases where these conditions are not fulfilled as outlined above, FXOpen sets forth clear pricing. Traders failing short on qualifying criteria can still gain access but at an expense amounting to up to $30 charged for utilizing the Forex VPS Service.
Can I customize the resources on my FXOpen VPS?
Yes, FXOpen offers a variety of VPS packages with varying resource allocations, allowing traders to select the optimal plan.
How do I set up my trading platform on FXOpen’s VPS?
FXOpen provides traders with straightforward guides and tutorials for setting up their trading platforms on the VPS.
FXOpen Cashback Rebates Features and Conditions
FXOpen’s Cashback Program aims to reward traders by offering significant cashback on their trades. It sets itself apart from other programs in several notable ways that appeal to both novice and experienced traders:
- ✅ With a validity period of 90 days from registration, the program gives traders ample time to take full advantage of the available cashback offer regardless of how frequently they engage in trading activities.
- ✅ The entire process is fully automated with no need for manual intervention. Funds acquired through cashback are directly credited into clients’ Commission accounts and can be withdrawn or used immediately for further trading endeavors.
- ✅ Unlike competing programs involving additional requests or complex activation procedures, FXOpen’s Cashback Program is automatically activated upon registration.
- ✅ The program offers a generous amount of cashback, reaching up to 150% of the standard commission per trade.
Can I withdraw my cashback rebates from FXOpen immediately?
Typically, cashback rebates are added to a trader’s account balance and can be withdrawn, but reviewing any applicable terms and conditions is important.
Does the cashback rebates program affect the spreads or commissions I pay?
No, the cashback rebates program does not affect FXOpen’s spreads and commissions.
FXOpen Web Traffic Report
| 🌎 Global Rank | 318,084 |
| 📌 Country Rank | 490,303 |
| 📍 Category Rank | 3,801 |
| 📈 Total Visits | 297.2K |
| 📉 Bounce Rate | 63.7% |
| 📊 Pages per Visit | 1.14 |
| 💹 Average Duration of Visit | 00:01:56 |
FXOpen vs. Markets.com vs. XM – A Comparison
| 🔎 Broker | 🥇 FXOpen | 🥈 Markets.com | 🥉 XM |
| 🏦 Regulation | ASIC, FCA, CySEC | ASIC, CySEC, FSCA, FCA, BVI FSC | FSCA, IFSC, ASIC, CySEC, DFSA, FCA |
| 💴 Withdrawal Fee | ✅Yes | None | None |
| 🆓 Demo Account | ✅Yes | ✅Yes | ✅Yes |
| 💵 Min Deposit | 5 MYR | 230 MYR | 23 MYR |
| 📈 Leverage | 1:500 | 1:300 | 1:1000 |
| 📉 Spread | From 0.0 pips | From 0.6 pips | 0.7 pips |
| 📊 Commissions | From $1.5 | Spread only | $1 to $9 |
| ▶️ Order Execution | Instant, Market | Instant, Market | Market, Instant |
| 🎁 No-Deposit Bonus | None | None | None |
| 💰 Cent Accounts | ✅Yes | None | None |
| 📌 Securities Commission of Malaysia (SCM)Regulation | None | None | None |
| 💷 MYR Deposits | None | None | None |
| ↪️ MYR Account | None | None | None |
| ⏰ Customer Service Hours | 24/5 | 24/5 | 24/7 |
| 🔟 Retail Investor Accounts | 4 retail, 3 PAMM | 5 | 4 |
| ☪️ Islamic Account | ✅Yes | ✅Yes | ✅Yes |
| 📈 Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
| 📉 Maximum Trade Size | Unlimited | 100 lots | 100 lots |
| 📊 Minimum Withdrawal Time | Instant | 24 hours | 1 working day |
| 🕰️ Maximum Estimated Withdrawal Time | 2 - 5 Days | 7 working days | 5 working days |
| 💳 Instant Deposits and Instant Withdrawals | ✅Yes | ✅Yes | ✅Yes |
FXOpen Alternatives
🥇 Admirals is a Forex and CFD broker that provides diverse trading instruments such as currency pairs, metals, stocks, indices, and energies. Admirals provide traders with a cutting-edge trading platform as well as a variety of educational resources and tools.
🥈 Markets.com is a Forex and CFD broker that provides various trading instruments such as currency pairs, stocks, indices, and commodities. Account types available from the broker include Micro, Advantage, and Advantage Plus accounts, with minimum deposits ranging from $10 to $50,000. Markets.com offers a variety of trading platforms, including MetaTrader 4 and a proprietary platform, as well as advanced trading tools and educational resources.
🥉 FXTM is a Forex and CFD broker that provides diverse trading instruments such as currency pairs, metals, commodities, and stocks. Micro, Advantage, and Advantage Plus accounts are available, with minimum deposits ranging from $10 to $500. FXTM offers traders a variety of trading platforms, including MetaTrader 4 and MetaTrader 5, as well as educational resources and trading tools.
FXOpen Awards and Recognition
FXOpen received the following recent awards and recognition:
- ✅ Best ECN Broker 2019, UK Forex Awards.
- ✅ Best Forex Broker in the Middle East 2018, Egypt Investment Expo.
- ✅ Best Islamic Forex Broker 2018, ForexTraders.com.
- ✅ Best ECN Broker Asia 2018, IBM FX Awards.
- ✅ Best ECN Broker 2017, IAFT Awards.
and many more!
Our Experience with FXOpen
Based on our observations and feedback from various traders, FXOpen has proven to be a reliable broker, especially for those who prefer the ECN system. Trades are executed quickly, and the broker has consistently demonstrated efficiency.
While some traders have had positive experiences, particularly with the ECN system, others have stressed the importance of staying alert to the market and not becoming overly reliant on bonuses.
FXOpen Trading Platform
FXOpen’s trading platforms are robust and run smoothly without any glitches. They offer a variety of account types, including ECN, STP, and Crypto, to meet various trading requirements. The platforms are intended for both beginners and professionals.
The floating spreads start at 0 pips and can be leveraged up to 1:500. Furthermore, FXOpen provides a demo account, which allows traders to test the trading conditions without risking their funds.
The platforms, in our opinion, are user-friendly and provide traders with the tools they need to trade effectively.
Quality of Customer Service
According to our feedback, the customer service team is responsive and helpful. The team responds quickly to concerns whether traders contact them via email or live chat feature.
However, as with any service, providing clear information when reaching out is critical to ensuring that any issues are resolved efficiently.
FXOpen Response Time
| 🔎 Support Channel | ⏰ Average Response Time | ⌚ User-based Response Time |
| ☎️ Phone | 5 minutes | 2 minutes |
| 1 working day | Same-day | |
| 🥰 Live Chat | 5 – 10 minutes | 3 – 4 minutes |
| 💻 Social Media | 1 working day | Same-day |
| ❤️ Affiliate | 1 working day (email) | Same-day |
FXOpen Risk Warning and Disclaimer for traders
Trading in Forex, cryptocurrencies, stocks, and other financial instruments can carry a high level of risk and may not be suitable for all investors. The use of leverage during trading can result in substantial gains or losses.
It is crucial for individuals to carefully assess their investment goals, level of experience, and tolerance for risk before participating in any form of trading. They should also clearly understand the potential risks associated with such endeavors and seek independent financial advice if necessary.
Furthermore, please note that the information on FXOpen’s website is intended solely as educational material or for general information purposes only; it does not constitute financial advice or a recommendation to buy or sell specific financial products.
FXOpen cannot guarantee the accuracy nor completeness of the content presented on this platform; therefore, it shall assume no responsibility for any loss incurred due to reliance on its materials.
Furthermore, Malaysians are strongly advised against making critical decisions based solely on the materials found on this website.
Recommendations according to our in-depth review of FXOpen
Firstly, Expanding FXOpen’s trading platform offering may attract a broader range of traders and provide more options for clients. Diversifying platform options can accommodate various trading preferences and strategies.
- ✅ A positive user experience requires optimizing the website design to be more user-friendly and intuitive. A well-designed website can help clients navigate and find the information they require, increasing overall satisfaction.
- ✅ While FXOpen’s customer support team has been praised for being responsive and helpful, consistency could be improved. Addressing slow response times and ensuring that support staff provide helpful assistance consistently can improve client experience and satisfaction.
Finally, FXOpen already provides educational resources and tools, but there is room to improve their quality and breadth. More comprehensive and high-quality educational materials can assist traders of all skill levels in improving their knowledge and skills.
FXOpen Customer Reviews
🥇 Very Positive!
The overall impression of the FXOpen website was very positive. – Naomi binti Ghazali
🥈 Best Choice.
Choosing FXOpen was the best broker decision I ever made. Regulated by the FCA, my funds are safe in segregated accounts. – Azizah Thompson
🥉 Trustworthy.
FXOpen is a trustworthy platform. I have been trading here for over 10 years, enjoying great trading conditions and friendly customer service. – Faizal Bennett
FXOpen Pros and Cons
| ✅ Pros | ❎ Cons |
| FXOpen is a secure, trusted broker with a high trust score of 89% | Leverage is limited when traders register through ASIC, CySEC, and FCA |
| There is excellent customer support across several channels | The educational materials are limited compared to other brokers |
Addendum/Disclosure: No matter how diligently we strive to maintain accuracy, the forex market is volatile and may change anytime, even if the information supplied is correct when going live.
Investor Warning: Foreign currency trading on margin is associated with an elevated risk and may not be appropriate for all Malaysian investors.
Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk. In addition, you should not start investing capital you cannot afford to lose because you could lose part of your original investment.
Our Review Methodology: For each of our broker evaluations, we investigate, evaluate, analyze, and compare what we feel to be the most crucial criteria to consider when selecting a broker.
Based on our findings, this evaluation comprises positives, disadvantages, and an overall score. We want to assist you in locating the ideal broker for your requirements.
Our broker review should not be considered financial advice. However, traders are urged to seek professional financial advice before making investment decisions.
In Conclusion
In our experience, FXOpen is a well-known Forex broker that provides a variety of trading accounts and platforms to suit various trading styles and preferences. Users praised the broker’s unique business model, commitment to providing a true ECN trading environment, range of trading instruments, and competitive fees.
FXOpen’s history as an educational center and its commitment to transparency and regulation have also been cited as positive aspects of the broker.
According to our findings, users also praise FXOpen’s trading platforms, which include MetaTrader 4, MetaTrader 5, TickTrader, and TradingView, for their advanced features and customization options. However, some users have complained about technical issues or slow performance.
FXOpen’s customer service has received mixed reviews, with some users praising the support team’s responsiveness and helpfulness, while others have complained about slow response times or unhelpful support staff.
Overall, FXOpen provides traders with various features and benefits, such as competitive fees, diverse trading instruments, and dependable trading platforms.
While the broker’s customer service has been criticized, its commitment to transparency and regulation has been praised. Therefore, we can conclude that traders looking for a dependable and trustworthy broker could find that FXOpen is an appropriate option.
Frequently Asked Questions
How do I get started with FXOpen?
FXOpen accounts can be opened by completing the registration form on their website.
Is FXOpen regulated?
Yes, FXOpen is regulated by several top-tier financial authorities, including the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC).
Can I trade Forex with FXOpen?
Yes, FXOpen allows you to trade forex.
How long does it take to withdraw from FXOpen?
Wire transfer withdrawals typically take a few days. Withdrawals made through electronic payment systems, bank cards, and cryptocurrencies are processed much more quickly.
Does FXOpen offer any educational resources for traders?
Yes, there are a variety of educational resources available on their website.
What are the trading hours of FXOpen?
FXOpen trading hours are determined by the financial instrument being traded.
Does FXOpen have Nasdaq 100?
Yes, FXOpen provides trading on the Nasdaq 100.
Is FXOpen Safe or a Scam?
FXOpen is regarded as secure.
How do I withdraw funds from my FXOpen account?
You can withdraw funds from your FXOpen account using the Client Portal’s various payment methods.
Does FXOpen have VIX 75?
No, FXOpen does not have Volatility 75.
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