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MT4

The screenshot of the MetaTrader 4 (MT4) platform features a dynamic user interface, equipped with multiple essential components for trading. The "Market Watch" window displays a list of the most traded currency pairs, showcasing market liquidity with real-time bid and ask prices. Concurrently, the EUR/USD candlestick chart offers a crisp visualization of market fluctuations over a one-hour period, accentuating bullish trends with green candles.

PROS

This platform is regulated by a credible government agency, ensuring that it operates in compliance with industry standards and regulations. Regulation provides a level of security and protection for traders, as it requires the platform to adhere to specific rules and guidelines designed to safeguard the interests of market participants. Trading on a regulated platform can enhance trust and confidence in the trading environment.

Regulated by a Credible Government Agency

A Virtual Private Server (VPS) is a virtual hosting facility that mimics a dedicated server environment within a shared server. VPS systems allow users to run Expert Advisors (EAs) continually with low-latency trade execution. VPS systems also ensure a stable working environment for hosted EAs and allow traders to execute their automated trading strategies remotely.

Virtual Private Server

This platform has been in business for over 20 years, demonstrating its experience and reliability. Users can trust the platform's long-standing presence in the industry.

+20 Years in Business

CONS

This trading platform is associated with a lack of experience, making it potentially risky for traders. Due to the platform's limited track record, it may not have the necessary expertise to handle complex trading scenarios, increasing the likelihood of errors or inefficiencies.

Lack of Experience

This trading platform charges high trading fees, which can significantly eat into traders' profits. With high transaction costs, including commissions, spreads, or other fees, traders may need to achieve higher returns just to offset the expenses, making it more challenging to generate substantial profits from their trading activities.

High Trading Fees

This trading platform offers limited customer support, leading to delays in resolving issues or inadequate assistance for traders. With subpar customer support, traders may face challenges in getting timely responses to their inquiries, resolving technical difficulties, or receiving necessary guidance.

Poor Customer Support

PROS & CONS

APPS

METATRADER 4

Widely-used platform for forex trading. Known for its Expert Advisors (EAs) and customizability.

METATRADER 5

Successor to MT4 with more timeframes and order types. Supports more markets beyond forex.

TRADINGVIEW

Web-based platform for charting and social trading. Widely used for its advanced technical analysis tools.

TICK TRADER

TickTrader is a new trading platform, which allows clients to trade five of the most popular asset classes — forex, stocks, commodities, indices, and cryptocurrencies via one trading account. A special trading account, TickTrader ECN, has been designed for trading using TickTrader platform.

VPS Trading

A VPS service uses an external server to ensure your platform keeps running 24 hours a day, allowing your strategies to be executed even when you are offline.

ACCOUNT OPENING

How to Open a Trading Account with Fxopen


Opening a trading account is a process that involves several key steps to ensure both your trading needs and the broker's regulatory requirements are met. Below, we describe the process in detailed steps:


  1. Visit the Broker's Website: Access the official website (found in the index of this review). Look for the option to open a new trading account, which is usually clearly indicated on the main page.

  2. Complete the Registration Form: Provide your personal details, such as name, address, email, and phone number. Depending on the broker's need to know you better as a client, additional information about your trading experience, employment, and financial situation may be requested.
    Identity Verification: Upload documents to verify your identity and residence. This generally includes a photo ID (passport or identification document) and a proof of address (utility bill or bank statement).

  3. Set Up Your Trading Account: Configure aspects of your account, such as currency type, leverage, and, in some cases, trading preferences.

  4. Deposit Funds: Make an initial deposit using one of the payment methods accepted by the broker (We detail the alternatives later).

  5. Access the Trading Platform: Download and install the trading platform. Log in with your account details.
    Practice with a Demo Account (Optional): Practicing trading with virtual funds before risking real money means you won't be surprised when using real money.
    Start Trading: Once your account is set up and funded, you can start trading.



How to Deposit


Once you have decided how much to deposit and which method to use, making the deposit is simple and quick. Just follow these steps:


  1. Log in to your newly created account.

  2. Click on "Deposit Funds".

  3. Enter the amount and select the currency.

  4. Finally, select your chosen deposit method. Don't worry, it's a  secure and private process. Transactions are communicated using Secure Socket Layer (SSL) technology.


Below we show you the available alternatives.

Bank Transfer
Credit Card
Neteller
Skrill
Wise

Deposit & Withdrawal Methods

Year

2005

HeadQuarters

Australia

Service

TRADING

BASIC INFO

FXOpen is a reputable online Forex and CFD broker, offering a wide range of trading instruments, including currency pairs, commodities, and indices. The platform is known for its ECN trading conditions, competitive spreads, and a variety of account types. FXOpen focuses on technology-driven trading, providing an efficient and flexible trading environment, supported by robust security measures and client support.

REGULATION

Financial Conduct Authority

FCA

United Kingdom

Australian Securities & Investments Commission

ASIC

Australia

ASSETS & SERVICES

FxOpen is a solid choice for investors interested in FX (Forex) and CFD (Contract for Difference) trading. It offers a wide range of financial assets, including:


  • Currency Pairs (Forex): Currency pairs are one of the most popular assets in trading. Investors can speculate on the fluctuation of exchange rates between major currencies, such as EUR/USD, GBP/JPY, and USD/JPY.

  • Stocks: It allows the buying and selling of CFDs of stocks of companies listed on various stock exchanges worldwide. This provides investors with the opportunity to invest in leading companies like Apple, Amazon, Microsoft, and many others.

  • Stock Indices: Stock indices represent the performance of a group of stocks on a specific stock exchange. Investors can trade indices such as the S&P 500, FTSE 100, DAX, and more, allowing them to diversify their portfolios.

  • Commodities: Commodity assets include crude oil, gold, silver, natural gas, corn, coffee, and other basic commodities. Investors can speculate on the price movements of these commodities, which are often influenced by economic and geopolitical factors.

  • Cryptocurrencies: You can trade CFDs on a variety of cryptocurrencies, such as Bitcoin, Ethereum, Ripple, and Litecoin.

FXOPEN: AN INSIDE LOOK AT ECN TRADING SERVICES

Have you come across this financial app and wonder what it is all about? In this review, we will walk you through the key points to consider when evaluating its features and benefits.

4.12.23

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