FxOpen – Is it scam or safe?

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FxOpen – Is it scam or safe?

The company is licensed in several countries and is regulated by the relevant financial supervision commissions. Licenses allow it to offer financial services, including forex.

However, there are some publications in forex forums that inform about poor practices related to higher fees for deposits and withdrawals, changing key parameters of profitable accounts to prevent further winning deals, withdrawal delays, negative slippage and poor customer support.

So far, we haven’t received any complaints from clients of FxOpen.com.

If you feel frustrated by FxOpen.com and have something to share with us, please fill in the form below, describing your case:

4 Complains

  1. Well, they sound amazing when you open an account with them and start trading. Everything looks so easy. Hover, when you realize some profits and request a withdrawal, they show you their dark side. I had a problem and till now it’s not resolved yet! My request is for USD10,000. I sent it many times and they rejected it requiring some other documents from me – scanned photos, proof of address, despite I already gave all necessary to them. Then they requested my ID close to my face. What we are talking about?? SCAMMERS. Now they don’t respond me. Stay away, this is the worst broker I was ever dealing with.

  2. This broker charges huge commissions on both deposits and withdrawals. I assume they make their profit from commissions and not from real trading. Is this any kind of diversification? And what about their exchange rates they charge for conversion? They are ridiculous having in mind they are supposed to be a forex broker. Perhaps they make more money from commissions. I do not recommend them.

  3. I tried to deposit funds by my credit card and it was a nightmare. This broker use Skrill as its payment provider and you are forced to do it when you deposit by card. When I enter my card details skrill makes me change my password for security reasons. And after doing all that I did not have to, they announced that they had no longer accepted US dollars. WTF. I read skrill reviews and they were extremely negative. Anyway, I decided to use another broker. I know it may concern skrill but fxopen forced you to use this payment provider when you deposit by credit card. And then? How will you get your money back? I can only guess..

  4. I use a trading strategy that involves opening positions mainly during the economic news announcements. I trade with two other ECN brokers and I can conclude that order execution of FXopen is very bad. Spreads are wider and slippage is greater than other brokers. Withdrawals are OK but there are very high commissions.

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