Nonetheless, a low minimum deposit requirement and access to educational content is ideal for novice traders. A highly competitive trading environment elevates this broker into the top quartile. The cost structure and asset choice make the ECN account a natural choice for committed traders. The MT4 and MT5 trading platforms, including mobile versions and webtrader versions, are available only as the most basic versions. FXOpen developed the One-Click Trading and Level2 plugin, which enhances order placement. Regrettably, third-party plugins that are required to unlock the full functionality of the MT4 platform and improve the trading environment are not available.

Fund your account and trade

1. FXOpen’s overall approach to research and education is acceptable, but ranks far behind its competitors and begs for a major overhaul.
2. FXOpen offers a Micro account from a minimum deposit of $1, while a $10 STP bonus is equally available.
3. All terminals can be used directly through major internet browsers as a webtrader, downloaded to desktop devices or used via mobile apps.

When we used the FXOpen bespoke platform, we were impressed with its simple navigation, fully customizable experience and clear price analysis charts. We are confident the platform provides all the features needed for both beginners and experienced traders. FXOpen also offers TickTrader, a new, proprietary trading platform offering much of the same features as MetaTrader and more. FXOpen offers a Micro account from a minimum deposit of $1, while a $10 STP bonus is equally available.

Start trading Forex with FXOpen

FXOpen offers a $10 no deposit bonus (NDB) for the ECN TickTrader account and the STP PAMM accounts. There is also a $1 xcritical cheating welcome bonus for Micro accounts and a ForexCup Trading Contest bonus, subject to demo contest terms and conditions. The award-winning live trading platform has 30 million monthly traders and offers a suite of useful tools.

FXOpen Verdict

All terminals can be used directly through major internet browsers as a webtrader, downloaded to desktop devices or used via mobile apps. FXOpen offers four trading platforms; a proprietary xcritical courses scam platform named TickTrader, TradingView, plus MetaTrader 4 (MT4) and MetaTrader 5 (MT5). UK investors, for example, will trade under the FXOpen UK subsidiary, with oversight from the Financial Conduct Authority (FCA). European traders will be registered under the FXOpen EU entity with regulation from the Cyprus Securities and Exchange Commission (CySEC).

FXOpen developed an ECN bridge for the MT4 trading platform in 2009, becoming the first Forex broker to do so. It offers traders access to institutional liquidity and remains a primary asset of this broker. The One-Click Trading and Level2 plugin complements the ECN capabilities. For a $30 monthly fee, traders who do not meet those requirements may also apply for the VPS service. It features genuine ECN pricing on the MT4/MT5 trading platforms, is highly transparent, and provides a shining example of a trustworthy, competitive trading environment.

To evaluate brokers, we test the accounts, trading tools and services provided. Over 100 data points are considered, from minimum deposits and trading fees to the platforms and apps available. Our broker ratings are also informed by the experience of our researchers during the evaluation process. Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members.

For example, deposits made via bank wire transfer must be a minimum of $300 or equivalent currency for European clients, and $25 for Asia-Pacific clients. The mobile applications provide the same features as the desktop versions as well as added functionality including push notifications and SMS alerts. Users can also view their account and trading history, execute trades in one click, and toggle between live charts and graphs. When we used FXOpen’s platforms, we were pleased with the relevant device compatibility.