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In this review, we delve into the offerings of, an online forex broker that has been in operation since 2005. Based in Perth, Australia, FXOpen AU provides a range of trading platforms including MetaTrader 4, MT4 Mobile, Web-Based MT4, and FXOpen Trader for Android. These platforms cater to a wide spectrum of trading needs, from forex to cryptocurrencies. With a minimum trade size of 0.01 and a maximum leverage of 500:1, FXOpen AU presents an accessible entry point for novices, and ample opportunities for seasoned traders. The broker offers over 45 currency pairs, gold, silver, bitcoin and other cryptocurrencies for trading. Furthermore, it supports various deposit and withdrawal methods such as bank wire, VISA, MasterCard, Discover, JCB, Local Bank Transfers, Maestro, Neteller, Skrill, and WebMoney. Regulated by ASIC, FXOpen AU upholds a high standard of transparency and accountability. This review aims to provide an impartial examination of FXOpen AU's services, trading conditions, and overall performance in the forex market.

Review, an established online forex broker since 2005, has carved a niche for itself in the competitive world of online trading. Catering to a broad spectrum of traders, it offers diverse trading platforms and a wide range of trading options.

Trading Platforms

FXOpen Australia provides traders with an array of trading platforms including MetaTrader 4, MT4 Mobile, Web-Based MT4, and FXOpen Trader for Android. Each platform is designed to offer a unique trading experience and cater to different trading styles and preferences.

Trading Options

FXOpen offers over 45 currency pairs, gold, silver, bitcoin, and other cryptocurrencies. This extensive range of options makes it a preferred choice for traders looking for diverse investment and trading opportunities.

Broker Details

FXOpen has a minimum trade size of 0.01 and offers a maximum leverage of 500:1. The minimum amount to open a live account is a mere $10, making it accessible for beginner traders. The broker is regulated by ASIC under AFSL 412871 and is headquartered at Level 25 108 St Georges Terrace Perth WA 6000, Australia.

Trading Conditions

FXOpen supports automated trading with EAs/Robots, news trading, and scalping. These features enhance the trading experience and provide traders with more strategies to exploit market opportunities.

Managed Accounts & Social Trading

FXOpen also offers PAMM accounts, a form of managed accounts, which is a boon for traders who prefer to have their trades managed by experienced traders. In addition, it supports social trading, allowing traders to follow and copy the trades of successful traders.

Deposit and Withdrawal Methods

FXOpen provides multiple deposit and withdrawal methods including Bank Wire, VISA, MasterCard, Discover, JCB, Local Bank Transfers, Maestro, Neteller, Skrill, and WebMoney. These varied options make it convenient for traders worldwide to transact with the broker.

Pros and Cons

While FXOpen offers a variety of trading platforms and a wide range of trading options, the broker's services may not be available in certain countries. The details of these prohibited countries are not specified.

Scammer or Not?

FXOpen's long-standing establishment and regulation by ASIC provide a degree of credibility. However, it is always recommended for traders to conduct their own due diligence and research.

Safety Check

FXOpen's regulation by ASIC adds a layer of safety for traders. However, traders should be aware of the risks involved in forex trading and invest responsibly.


Q: What trading platforms does FXOpen offer?
A: FXOpen offers MetaTrader 4, MT4 Mobile, Web-Based MT4, and FXOpen Trader for Android.
Q: What is the minimum deposit to open a live account with FXOpen?
A: The minimum deposit to open a live account with FXOpen is $10.
Q: Does FXOpen support automated trading?
A: Yes, FXOpen supports automated trading with EAs/Robots.
Q: What deposit and withdrawal methods does FXOpen offer?
A: FXOpen offers multiple deposit and withdrawal methods including Bank Wire, VISA, MasterCard, Discover, JCB, Local Bank Transfers, Maestro, Neteller, Skrill, and WebMoney.

If you have experience working with FXOpen, we invite you to leave your feedback on the website. This review is independent and aims to provide comprehensive information about the broker. Review: Leading Forex Broker with Diverse Platforms

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1 review

5 months ago

Review: FXOpen's High 300 Pip Charges on USD/CAD Conversion

In the challenging, numbers-infused realm of Forex trading, every pip, the unit used to measure the change in the value of a currency pair, indeed matters. Therefore, it's disheartening to experience the astonishing 300 pip charges that FXOpen levies on an USD/CAD conversion. For novices and expert traders alike, this can serve as a focal point of frustration. Here is a Forex broker company that charges an eye-popping 300 pips merely for executing an uncomplicated currency conversion task, whether it's from a credit card or transitioning from their electronic wallet to their very own Electronic Communication Network (ECN) account. The scenario does not deviate; 300 pips is the rigid, unwavering quantity FXOpen seems committed to, despite being a renowned entity in the Forex industry. Well-established Forex brokers are expected to offer cost-effective, streamlined, and smooth transactions across their platforms, given the volatile and fast-paced nature of the market. Furthermore, when depositing funds via a widely utilized financial tool such as a credit card, FXOpen, surprisingly for such a respected Forex entity, astonishingly pushes you to navigate through Skrill's platform. This enforces an exterior layer of obtrusiveness in an already extensive process, cutting into the conveniency of performing quick, easy transactions while trading currencies. It's crucial to underline that these are keystone elements of a broker's operational model and should not be taken lightly by traders. Such high pip charges can quite significantly eat into a trader's capital, lowering trading efficiency and profitability. Moreover, the external inconvenience of having to use an auxiliary platform for deposits raises legitimate concerns about efficiency, convenience, and user experience. In conclusion, Forex traders, regardless of their expertise level, need to be wary of the substantial and non-transparent 300 pip charges that FXOpen levies on its platform for USD/CAD conversions. Simultaneously, forced diversions to secondary payment platforms like Skrill for credit card payments need to be considered in the overall efficiency and cost-effectiveness verdict.

5 months ago Review: Exorbitant 300 Pip Charges on USD/CAD Conversion

As we navigate the financial tides of forex trading, determining an ideal, trustworthy broker is crucial. A recent encounter with has driven me to share a disconcerting reality about their conversion practices. Forex traders need to be aware – the broker applies a staggering 300 pip charge on the USD/CAD conversion rate. An outrageous fee, especially when you consider the company's area of expertise. Whether you choose to move funds from your credit card or transfer from their wallet to their Electronic Communication Network (ECN) account, the same hefty 300-pip charge applies. Given that we're dealing with a company whose specialty lies in forex, one may speculate that they would ensure a more favourable rate for their clientele. Yet, it's quite baffling to see the contrast between's practices and what one would assume are standard forex operating guidelines. But wait - there's more. In an evident demonstration of arm-twisting tactics, insists on members using Skrill for any deposits made via credit card. Restricting customers to a specific payment service, without offering any flexibility or alternative options, is indeed a rather inexplicable requirement. These tactics not only question the trustability and reputation of but also deny traders their right to fair and transparent fee structures. In light of these observations, I encourage fellow forex enthusiasts to exercise extreme caution when engaging with this broker. Exploring other secure options that offer the flexibility, transparency and most importantly, fair conversion rates might be a better financial move. In conclusion, the exorbitant 300 pip charges on a rather straightforward USD/CAD conversion coupled with the lack of choice for deposit methods with sounds alarm bells. Let this review serve as a word of caution in the rough waters of online forex trading. You're entitled to a broker that offers more than just high fees and constrained payment methods.

5 months ago

Review:'s High USD/CAD Conversion Rate - 300 Pips!

Looking into the financial dynamics of most forex trading firms, one aspect that left me confounded was’s exorbitant USD/CAD conversion rates. Although it's apparent that every forex company comes with its unique set of policies, draws your attention with an unusually high fee - a whopping 300 pips on the USD/CAD conversion rate! This unusually high charge applies uniformly, be it direct conversion from your credit card or shifting funds from their internal wallet to their Electronic Communication Network (ECN) account. For a company that has built its reputation on the astute handling of forex operations, this discovery was rather perplexing. Can these high conversion rates be justified in terms of additional benefits or services they provide? Digging deeper, not only did I encounter those high rates, but they also imposed another restrictive practice on their customers. enforces a mandatory transition through Skrill, an acknowledged global money transfer platform when you choose to deposit by credit card. This directive, while somewhat restrictive, adds an extra layer to their transaction process. Summing up,'s trading practices, while adhering to their company policies, could be seen as a drawback for those seeking more flexible, low-cost forex solutions. Although their standing as a forex company endures, these particular concerns revolving around their USD/CAD conversion rates and the imposition of Skrill for credit card deposits, present a contrasting side of their business framework. Unquestionably, it emanates as a discouragement for potential traders foreseeing efficient, straightforward transactions. While the final call remains in the hands of the traders, with this review, one is urged to reassess the cost-benefit balance offered by's mode of transactions before embarking on their forex journey.

5 months ago Review: High Conversion Fees on USD/CAD Transactions

When we think of foreign exchange companies, their primary role of providing comfortable conversion rates springs to our mind. However, my experience with has been far from that. As a part of this comprehensive review, I would like to shed light on the excessively high conversion fees that this broker imposes on USD/CAD transactions. Let's talk numbers - Transacting through this broker, you'll be confronted with a whopping 300 pips on the USD/CAD conversion rate. Be it from a credit card or transferring from their personal wallet to their ECN account, the stringent rate of an immense 300 pips applies uniformly. You might wonder how such inflated rates pass off in a forex company whose job is to entail supportive, user-friendly trading and conversion facilities. However, the uncomfortable surprises with don't just stop at high conversion fees. In another apparent attempt to bind and limit their customer’s flexibility, they enforce a mandatory route of financial transaction if you choose to deposit via credit card. The broker makes it compulsory for you to go through a third-party service like Skrill. This massive inconvenience not only limits your freedom to choose the best-suited method of deposit but also throws you into unnecessary complexities while transacting. It becomes an additional step to undertake, which could have been avoided if the company considered its users' convenience instead of just corporate alliances. To sum it up, while there might be several aspects that excels in, when it comes to the USD/CAD conversion rate and the forced usage of Skrill for credit card deposits, there are certainly areas of concern. The excessive conversion rate and the restrictive protocols could indeed be deal-breakers for many potential and even existing users. Re-evaluating these areas could enhance the overall user experience and strengthen their client base.

1 review

5 months ago Review: Insight on their 300 Pip USD/CAD Conversion Rate

When entering the competitive world of forex trading, every bit of insight into broker practices can provide a significant advantage. It's with this spirit that we deep-dive into an exploration of the costs and operations of prominent forex service provider, At the heart of this review is their unique practice of charging a steep 300-pip fee on USD/CAD conversions, a dimension of their service that has raised eyebrows amongst veteran traders. You read that right - a staggering 300 pips on conversion rates when transacting from USD to CAD! This rate applies when you link and transfer funds from either your credit card or their e-wallet to the ECN account, a major facet for consideration if you're contemplating exploring this broker's offerings. With the focus of the company centered on forex trading, the high pip rate comes off as a surprise, acting as a potential barrier for traders seeking more favorable conversion rates. This unforeseen trading expense may lead some to ponder FXOpen's true level of commitment to serving the needs of their growing clientele. Adding to the complex nature of their operations, FXOpen imposes stringent deposit conditions for credit card users. The company mandates the use of Skrill for any deposit made via credit card. Even for experienced forex traders, such mandatory use of Skrill can be somewhat unexpected and unintuitive compared to the more flexible deposit options provided by many other Forex brokers. In conclusion, although offers a range of potential benefits for forex trading, their high pip conversion fee on USD/CAD transactions and mandatory use of Skrill for credit card deposits can potentially temper their appeal. As always, a thorough evaluation of broker practices and costs is critical before leaping into the bustling realm of forex trading. This review merely seeks to shed light on some unique facets of FXOpen operations that deserve consideration.


1 review

5 months ago Review: Unraveling the 300 Pips Conversion Fee

Engaging in the world of forex trading can be complex due to the interpretation of financial charts, price quotes, and conversion rates. Among these intricacies, choosing a broker that offers favorable conditions and transparent fees is crucial. One such platform that has garnered multiple impressions is But let's shed light on an issue that could be a cost concern for many users - the hefty 300 pips fee on USD/CAD conversion rate. Labeling themselves as a fore-frontier in the forex trading industry, appears to have somewhat of an unusual fee structure. Firstly, the broker charges an astounding 300 pip conversion fee, no matter whether it’s from a credit card or their wallet to an ECN account. For those unaware, pips are points used to measure movements in forex trading; and with, this high fee might put off potential traders due to the impact it could have on their overall returns. From a customer’s point of view, such a high conversion fee can significantly reduce profitability, especially for those trading in large volumes. It's worth noting that this fee applies specifically to the USD/CAD currency pair, a highly traded pair due to the close economic ties between the two nations. But that's not all; there also seems to be a rather rigid deposit policy. mandates the use of Skrill for those opting to deposit using credit cards. While Skrill is undeniably a popular e-wallet solution, being forced into using a specific method can be off-putting for some users, particularly those who may not have or want a Skrill account. In conclusion, while it is foolish to judge a broker solely based on fees and trading conditions alone, this review uncovers some potentially challenging aspects of trading with Therefore, traders should acknowledge these costs and consider how’s fees might affect profitability, and possibly consider other options better suited to their trading needs and strategies.