Crypto Frontline

fxopen crypto broker review

FXOpen is an online brokerage company, based in UK that first started as afinancial trading education center in Egypt. It has expanded its activity to the brokerage industry in 2005 and one of the key accomplishments is the implementation of ECN trading through metatrader 4 platform.

When it comes to trading account types, FXOpen has a wider variety, as it follows:

• ECN trading account
• Crypto trading account
• STP trading account
• CFD trading account
• Micro trading account

What stands out is the crypto trading account. FXOpen has implemented a special trading account just for crypto currencies. FXOpen lets you trade Bitcoin, Ethereum, Litecoin against the US Dollar, Euro, or Russian Ruble in the form of CFDs. They claim to use top liquidity providers (Exchanges) to aggregate liquidity.

Trading Platforms

When it comes to trading platform, metatrader 4 is the most important for FXOpen and they have developed versions for micro accounts, STP accounts and ECN accounts.

Some of the key features of their mt4 platform, as FXOpen claims, are – Manual trading, Automated execution, Charting, Analytics, Mql

Approximately 90% of all retail transaction are processed through the mt4 platform. FXOpen developed apps in order to enable mobile trading as well, so traders can choose between versions of mt4 for android and iOS, or a proprietary mobile app, called FXOpen Trader. Just for mobile trading, traders can also enjoy using the metatrader 5 platform.

As a whole, FXOpen has affordable account opening requirements and has multiple choices of trading platforms.

One negative aspect which should be mentioned is that they have high withdrawal fees and do not have educational materials.

Customer Service

At FXOpen, customer support is available 24 hours a day, 5 days a week, via email live chat of telephone. For localized telephone support, they have offices in the following countries – Spain, Russia, France, Germany, New Zealand