FXOpen – reliable or scam?

Another large Forex broker that also offers an ECN account and thus fits the needs of more professional traders is called FXOpen. FXOpen is pretty large and you can find a lot of feedback online. We already tested FXOpen here: FXOpen review and we made nothing but good experiences with this broker. It’s not even close to a scam, we can already say so.

But there are also bad opinions on FXOpen. Not everybody is happy with them. Although there’s no Forex broker that everybody likes but you also have to take a look at negative experiences to stay objective.

A few traders compalin that trades go in the wrong direction immediately after opening a position or that you get scammed when you make profit. At brokers like FXCM or Forex.com you will hear this rather often but pretty rarely about FXOpen. It’s pretty interesting that the traders that say so only make short reviews without any evidence. Complaints that FXOpen is not regulated and not a real company are simply not true.

FXOpen offers an open forum for traders. Obviously we can’t prove it but the forum looks pretty objective and there’s not a lot censorship going on. This makes FXOpen more reliable.

In summary you will also find negative experiences with FXOpen but it’s pretty evident that most of them come from competitors. The nicknames and the way they write are pretty similar. The Internet offers this opportunity. You just don’t have to pay too much attention to reviews that look suspicious.



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Rating: 5.5/10 (11 votes cast)
FXOpen - reliable or scam?, 5.5 out of 10 based on 11 ratings

10 opinions and experiences

  1. Andy says:

    Big and reliable broker, but crazy slippages and slow execution make trading unreal. Yes, it’s called ECN, but still conditions are awful. CS is also very slow, so you will be alone. If you want to trade with solid broker and get good trading conditions, I can help. Just add me on skype – vovkfx.

  2. pep says:

    Bad broker, tecnical problems FXOPEN UK.

  3. Muhammad FArrukh says:

    Hi,

    Thanks for the reply.

    As you have accepted below in your reply ” In your case deposit was processed through Skrill.” that I have used Skrill as my payment method and its “due to the settings of our system each deposit through Credit/Debit card” it is showing as a debit or credit. It has nothing to do with me. ITS A FAULT WITH IN YOU SYSTEM.

    I have paid the money via Skrill, and in Skrill I deposited the money through online banking. I have sent the evidence of bank statement as well to prove that you/your settings are wrong. As you colleague on LIVE CHAT mentioned, if you provide the evidence we will refund our money back.

    I have included Financial commission on your reply as this is completely unacceptable that when a client want to withdraw his/her money they can’t. Regardless of the source of deposit. Who gave you the rights to hold our Money. FXOPEN Is a BROKER not the LEGAL OWNER OF THE CASH.

    Fxopen can’t fund there business with client money. In last 7 years this my first withdrawal and that is how FXopen treats is customer. You guys are absolutely unethical.

    Muhammad

    On 26/06/2015 08:11, FXOpen wrote:
    >
    > Dear Customer,
    >
    > we would like to inform that due to the settings of our system each deposit through Credit/Debit card is processed using different processing partners. In your case deposit was processed through Skrill.
    > Also according to the rules of our Company withdrawal is possible only in 30 days since the last Credit/Debit card deposit. According to the transaction’s history of your FXOpen eWallet the last Credit/Debit Card deposit was made on the 17-th of June,2015.
    > If you have further questions do not hesitate to contact with us.
    >
    > Best regards,
    > FXOpen Team.

  4. Adil says:

    FxOpen is Turning to Scam Broker.. I use to Trade on FxOpen for almost 13+ Months, now i’m going to left this broker.. Recently i planned to Trade on Fundamental News.. Pair i choose, was GbpUsd.. I put 2 Pending orders 25-pips away from the market price, just 1 minute before the news.. trade result was -ve & The price didn’t touched the Price of Buy-Stop Order’s But They Opened my both orders.. Sell was the org side, but the opened the Buy order, which was almost 30 pips away from cmp.. even Candles didn’t appear to touch that price..

    That’s the way they Gamble with you..
    So, stay away from this broker & Join some other decent ECN broker .. i.e. HotForex, Exness, AvaTrade, Plus500, Markets.com OR GCI Broker.. they are good..

  5. james says:

    just stay away.
    im a long term trader with a very small account.
    just listen to this, you start making money and your order will get deleted.

  6. Ed says:

    FXopen is a bad broker… I complain about how thier trding desk manipulates my trades.
    Today I lost everything when trades direction suddenly change while the same trades is win on other broker chart. Pleaseput back my money and stop scamming my trades.

  7. Basel says:

    Be cautious about opening an account with FXOpen. I had an account there for a while then I got sick and was away from my trading, but after 3 months, I wanted to act again, then my account was gone, and even the rest of my leaving money.
    When I contacted FXOpen, I received a message that my account is archived and also the money is archived and can not be activated?

    • Kadasi says:

      Same here. With difference that my account access was blocked. But they let run the open trades until marginal call was reached.
      I am calling upon Basel to contact me to provide more infos, as I want go to court and sue them.

  8. Lucy says:

    Have you heard about bullish trade? I invested US$25 in December, the website is now blocked.

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