Comparison of FXOpen’s trading account types and platforms

FxOpen

FXOpen is an undisputed leader in the STP-ECN online trading sector, known for the high quality of the services it offers and absolute transparency. The company’s main objective is to provide customers with a professional and user-friendly trading environment capable of meeting any need, regardless of the level of experience. It offers high-performance trading, rich in cutting-edge tools and trading conditions that few can offer.

• Pioneer in the forex industry for providing trading on Bitcoin, Litecoin, Ethereum, Ripple, Monero, EOS, NEO, Bitcoin Cash.
• First broker to offer ECN trading on the MT4 platform.
• Ultra-low spreads guaranteed starting from 0.0 pips.
• Minimum deposit starting from $1.
• STP broker, allowing direct interaction with the markets without any intermediaries.
• Advanced ECN price aggregation technology.
• Up to 1:1000 leverage.
• Wide range of available payment methods.
• Strictly regulated and controlled to ensure transparent and secure service worldwide.
• Well-structured educational material with useful information to improve your trading style.
• Essential trading tools such as the latest economic news, professional market analysis, and a Forex calendar.
• Ability to view monthly and daily account statements.
• A versatile account list to satisfy any trader, both professionals and newcomers will find the right solution for their needs. ECN, STP, Crypto, and Micro.
• Cutting-edge platforms including MT4, MT5, and TickTrader.

Visit the official FXOpen website

Available Accounts

As mentioned, FXOpen offers a wide range of accounts structured to meet the needs of traders at all levels of experience and risk appetite. Each trader can choose the account that best suits their trading style and, consequently, invest to the best of their abilities. It is important to note that trading conditions and available accounts vary depending on the trader’s country of origin.

Among the accounts offered are:

• ECN Account
• STP Account
• Crypto Account
• Micro Account

We would like to emphasize that traders residing in Europe can only opt for ECN and STP accounts, with trading conditions different from those offered on the broker’s international website.

Open a real or demo account with FXOpen

ECN Account

The ECN account is the most popular due to its features that are compatible with any trading style. It allows both experienced and novice traders to develop effective strategies with extreme ease. The account is available on all of the broker’s portals (European, Australian, international, and English), but trading conditions and available services vary depending on the trader’s country of residence.

In summary, the account utilizes ECN technology, a dense electronic communication network that connects banks, centralized exchanges, other brokers, and private investors. By opening an account, clients can benefit from:

Offered Prices, Spreads, and Order Execution

Using cutting-edge technologies, the broker receives liquidity from the world’s major banks to offer clients the best available prices, market spreads starting from 0 pips, and uninterrupted order execution.

No Dealing Desk

The service allows clients to interact directly with the markets without the presence of any intermediaries or third parties. No conflicts of interest between traders and FXOpen.

Any Style Is Allowed

Each trader can choose to trade using any strategy and trading style, including scalping, news trading, automated HFT, and Expert Advisors.

Convenient Conditions

Regardless of the trader’s country of residence, the offered conditions are extremely favorable: minimum deposits are not too high ($100 for the international portal, $300 for the EU and UK portal, $200 for the Australian portal), minimum trading sizes starting from 0.01 lots, and commissions starting from $1.5 USD per standard lot.

It’s important to note that the account is divided into two subcategories on the TickTrader platform: lot account and net account. Each of them has specific characteristics (number of open positions, opposite positions, position volume increases and decreases, and more) designed to allow the implementation of precise trading strategies.

It’s important to note that the maximum leverage available in European countries and Australia varies depending on the type of trader. Strictly verified professional clients can enjoy higher leverage than retail clients.

Open an ECN account with FXOpen

STP Account

The STP account has a structure similar to the ECN account but with some different features that make it suitable for traders with not too high trading volumes. In addition to offering direct execution in the markets without any intermediaries and state-of-the-art tools, the account offers less costly trading conditions, including low variable spreads, no commissions, and a minimum deposit of $10 (available on the international and Australian portals). As with the previously described account, the offered instruments and trading conditions vary depending on the customer’s country of residence.

As with ECN accounts, the maximum leverage in European countries and Australia is lower than that offered on the international portal, but it may increase based on the trader’s experience. Verified professional clients will have the opportunity to access higher leverage.

Open an STP account with FXOpen

Crypto Account

Primarily designed for traders who invest in cryptocurrencies, the account offers favorable conditions for trading in this highly volatile market. By opening a new Crypto account, clients can trade CFDs on 43 different pairs, including BTC, LTC, EOS, PPC, ETH, DASH, EMC against the US dollar, euro, or Russian ruble, with extremely advantageous trading conditions: excellent liquidity providers, ECN execution, a minimum deposit of just $10, ultra-low spreads, and commissions starting from 0.5% of the trading volume between rounds.

This type of account is only available on the broker’s international portal. Additionally, it’s important to note the following:

• Accounts denominated in Bitcoin in MetaTrader 4 will be indicated in mBTC (millibitcoin). One mBTC is equivalent to 0.001 BTC.
• Accounts denominated in Litecoin in MetaTrader 4 will be indicated using 1 LTC (Litecoin).
• The commissions (round-trip) to be incurred will be 1% of the traded amount. The client can view the amount charged immediately after opening a trade.
• Trading commissions vary depending on the invested amount.
• For every trade executed, the minimum commission to be paid is 0.01 units of the MT4 account currency.
• The charged commissions may vary if a client opens an account through an affiliate, IB, or franchise.
• For all overnight positions, the swap is 10% annually. On nights between Wednesday and Thursday, a triple SWAP will be charged.

Open a Crypto Account with FXOpen

Micro Account

Given its characteristics, the micro account is ideal for:

• Beginner traders looking to invest without taking on too much risk.
• Experienced traders who want to test the environment without committing excessive funds to their investments.

By opening a micro account, the client can trade while managing risk effectively and, as a result, create balanced strategies. The account quantifies deposits in US cents, has an almost non-existent minimum deposit of $1, no trading commissions, and low floating spreads.

It is necessary to note that:

• Each trader can open up to a maximum of 2 Micro accounts.
• If the maximum balance exceeds the allowed threshold of $3,000, the available leverage will be reduced by a hundred times (e.g., from 1:200 to 1:2).

Open a Micro Account with FXOpen

Comparison of International Portal Accounts

In the following comparative table, traders can compare the available accounts and decide which one suits their style best.

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How to Open an Account

Regardless of the country of origin, every trader can open an account that best suits their needs in just a few minutes. After the registration phase, the client will need to provide proof of their real identity and country of origin by providing the required documentation.

To open a new account with FXOpen, follow these easy steps:

First step

The trader should go to the official website and click on the “Live Account” button, located in the upper right corner of the page. In the new screens, enter: country of residence, valid email, name, surname, occupation, address, etc. After providing the necessary information, the client can choose the desired account type.

Second step

After registering, the client must undergo a verification process to confirm their real identity and country of origin. To do this, they must submit a clear, front-facing photo of a valid photo ID (identity card, passport, driver’s license) and a recent utility bill (electricity, gas, power supply).

Third step

If the outcome is suitable, the trader can make an initial deposit and start trading a wide range of available instruments.

Open a Real Account with FXOpen

Available Platforms with FXOpen

Every trader is unique based on numerous characteristics. Trading style, risk tolerance, experience, investment volume, and preferred instruments to trade are just some of the factors that make a trader unique. To allow its clients to interact with the markets using their skills to the fullest, FXOpen offers a wide range of platforms available on both desktop and mobile devices. These software solutions are constantly updated, rich in tools, and feature state-of-the-art functions suitable for any category of trader.

• MT4.
• MT5.
• TickTrader.
• TradingView.

MT4

Undoubtedly the most popular and widely used online trading platform in the world. Given its characteristics, over 90% of forex market trades are executed using MT4. The software features a user-friendly and highly intuitive interface, compatible with any trading style and level of experience. Being fully customizable, both beginners and professionals can interact with the markets with great ease and adapt numerous functions to their needs.

Easy to use.

MT4 offers an intuitive and simple interface that allows the trader to trade effectively and quickly.

Automated trading.

Every client can use Expert Advisors for automated trading. The software allows the use of free trading robots, creating one according to their needs, and purchasing one with access to the dedicated store.

Hedging service.

The trader can develop precise strategies, have excellent risk management, and open long or short positions on the same instrument.

Multiple timeframes.

9 timeframes ranging from 1 minute to 1 month.

State-of-the-art charts.

Fully customizable charts for reading the markets with extreme accuracy.

MT4 is compatible with any device, both fixed and mobile.

Invest in MT4 with FXOpen

MT5

An updated and improved version of the older MT4, MT5 provides customers access to a wide range of state-of-the-art tools and services for high-performance trading. Despite being designed for professional traders, the platform features an interface compatible with any trading style and level of experience. Some of the software’s features include:

Flexible trading.

On the platform, customers can choose to execute two order accounting systems (netting and hedging), 4 execution models, and all types of existing orders.

Efficient technical analysis.

MT5 allows customers to use up to 100 charts simultaneously, identify price swings using 21 timeframes, and conduct accurate market analysis with over 80 technical indicators.

Fundamental analysis tools.

To react accurately to market changes, MT5 offers the ability to use an always-updated economic calendar and extremely detailed financial news.

Copy trading.

Through the service, customers can copy the trades of industry professionals and reap the same benefits.

Expert Advisors.

Next-generation robo-trading with MQL5 technology. Available both for free and in the MetaTrader Market.

Virtual hosting

A service that offers full control over your operations. Through a virtual version of the platform hosted on a remote server, customers don’t have to worry about being tied to their device.

Invest in MT5 with FXOpen

TickTrader

An innovative online trading platform that allows you to invest in forex, stocks, commodities, indices, and cryptocurrencies, using excellent tools carefully designed to enable traders to interact with the markets with ease and efficiency. The available account to use the platform is TickTrader ECN.

Versatile.

Compatible with any device, TickTrader is available in desktop, mobile (iOS and Android), and Web Terminal versions.

Intuitive and customizable interface.

The software can be adapted to the trader’s needs, who can customize numerous parameters and trade to the best of their abilities.

Advanced technical analysis tools.

Customers can use ready-made traditional indicators or create one suitable for their style.

One-click trading.

Through this feature, customers can quickly interact with the markets and take advantage of operations on extremely volatile instruments. Suitable for high-frequency trading and/or scalping.

Level 2 prices.

Access to market depth with a maximum of 200 levels and free display of your limit orders within the order book.

Useful notifications.

Every trader can customize the notifications service and decide how to receive relevant market news.

Detailed chart structure.

Using charts, you can create and view volumes, operations, and set alerts.

Test your strategies.

A useful service that allows you to test created strategies before using them in the markets.

Complex strategies.

Demanding and professional traders in the industry can create finely structured strategies such as One-Cancels-the-Other (OCO), One Triggers Another (OTA), and Ladder of the Orders.

Invest in TickTrader with FXOpen

TradingView

An extremely popular platform that allows traders to perform accurate technical analysis, share their trades, and invest easily in the markets. The software includes a wide range of technologically advanced tools and features such as advanced charts, technical indicators, custom signals, drawing tools, and social trading.

Create effective strategies

With state-of-the-art drawing tools and a wide range of indicators, customers can structure accurate strategies.

Rapid and precise analysis.

Technical and financial analysis available with a single click.

React in real-time.

By carefully analyzing the best entry and exit points, customers can have excellent risk management.

Essential alerts.

Through fast and powerful servers, traders can set price alerts, drawing tool alerts, use Pine Script, and receive important email notifications to stay updated.

Invest in TradingView with FXOpen

Platform Comparison

The following table lists all the main features of each platform. This way, traders can choose the one that suits their needs the most.

Visit the official FXOpen website

Posted by Maria Sanchez

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Maria is an expert of financial markets, bringing all the information from English to Spanish for a better understanding of the online traders. She is also a day trader with experience in developing trading strategies that generate profit while minimizing risk and working under high pressured environment. While being a portfolio manager by herself, she focuses on marketing and consultancy of financial and Insurance products.