well, if you want to know my opinion about this broker, you need to be far away from the screen a little because I would say it is ... SCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCAM.😁
You need to be very careful. They will get you anyways and ripe you off. At last, you have no money and would regret the day you knew them.
Best of luck.
Seeing how it's been this long and you have not backed up your claim with any real facts, I'm going to guess that you are a typical trader and lost your money and would have lost your money regardless of the broker...
Any other comments on this broker, I have opened an account and will be funding at the end of the month. I do like the fact that they offer a true ECN account and I hope that this will be the start of ECN availability of Forex as it can only help to make the marketplace a more fair marketplace.
I have not had any issues using a EA on with this broker. Withdraws have been done in a timely manner. Over all I am satisfied with this broker. Customer service is about average with other brokers I have used. Live support was helpful for the one issue I had. Problem was solved in less then 24 hours.
What questions do you have about the PAMM accounts. The only one I tried failed but that was due to the trader and not the brokerage house. From my understanding (talking with those who use the PAMM feature) withdraws are pretty straight forward, you just need to have them placed before the deadline. I believe the deadline is set by the trader, but I am not positive.
Specifically I have heard a lot of horror stories about this broker being a bucket shop. I'm looking to invest into a managed account rather than a useless EA and their system seems to strike a good compromise, i.e. you don't have to give out any passwords or account information, it is all managed through the broker. It just seems more fair and trust worthy than others I have seen and was looking for someone with experience with it before I start investing money. Bottom line, if you were going to invest in a managed type service would you do it here or elsewhere?
biqut2 posted: Specifically I have heard a lot of horror stories about this broker being a bucket shop. I'm looking to invest into a managed account rather than a useless EA and their system seems to strike a good compromise, i.e. you don't have to give out any passwords or account information, it is all managed through the broker. It just seems more fair and trust worthy than others I have seen and was looking for someone with experience with it before I start investing money. Bottom line, if you were going to invest in a managed type service would you do it here or elsewhere?
I have had a PAMM account via a trader from this broker. The PAMM account is now dead, but that is not due to the broker but rather the trader. FXOpen is very particular about how they want your requests for funds sent in. By this I mean everything had better match up. Names, Emails and what not. I feel it could be frustrating to some when a funds request is made to have that request denied. As to would I put money into a PAMM account overseen by FXOpen. Yes, if I found a trader that I wanted to use. Are their other high quality brokers whom you could get a PAMM account through, or a MAM account. Yes, but I am not sure if I am allowed to post other brokers names in this thread.
I would respect the Alpari for a PAMM or MIG Bank for a MAM account.
I have issues with FXOpen that is not addressed by the customer service team about the margins a $25 deposited on a micro (cent account) gives a $2500 equity to trade on whereas a $25 deposited on a standard account shows as $25 equity to trade with which is obviously not enough and one gets easily wiped out.
Further a balance of 28737.05 on the micro account statements is actually $287.37 in real?
I have not been able to get through to them on live chats either as it does not work and no one to answer the phone even if someone did there is a standard answer please send us an email or contact through live chat and when an email is sent they respond with a link to check on just making someone go around in circles.
I am not able to make sense of the margin part is there some one here who can clarify this
I have a live ECN-Account with FX-Open since 2 Months.
Disadvantages: - comissions are bit high (1pip), but is ok (higher than Dukas) - I had a stuck during News-Release for 20sec, which scared me but ok other brokers has problems too - sometimes in the rollover time their Banks widen the EUR/USD spreads (4+ Pips) .. Broker like ATC had 0.8 Pips spread at the same time.
Advantages: - Low minimum deposit for ECN ($1000) - same bank-feed as dukascopy but you can use Metatrader - very fast and good support, they compensated me some money I lost because the StopLoss was delayed once some minutes within 2 days. - very fast execution times, less slippage, good liquidity (I traded 10 full size lots at once without problems)
In all I can recomment this broker, even for scalpers. Very nice company so far.
Customer service is unprofessional and does not answer your questions clearly.
Requotes on STD Accounts. Commission is not competitive on ECN account. Server failed in the past during News and market open. Withdraws delayed and they did not contact me regarding the issue.
However, I do like their Trader's Cabinet-Website-User Friendly.
If you are going to open an ECN account with $1000, Fxopen can not compete with Dukascopy. I do not see any reason to use this broker when there are far better brokers that are regulated and have a license to operate.
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