FxOpen Rating Review (2.0)


Fx Open Review


FxOpen Forex Broker
-Full Rating Analysis (v.2)

 

 FxOpen Rating

FxOpen Forex Broker General Rating

FxOpen RATING SUMMARY    
  MAX ACHIEVED
1.Reliability 28.00% 17.67%
2.Competition 30.00% 20.00%
3.Trading-Options 26.00% 20.00%
4.Technology 16.00% 9.00%
Overall Rating 100.00% 66.67%

 

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FxOpen Rating Analysis

FXOPEN -RATING ANALYSIS    
TOTAL RATING 100.0%   FxOpen Broker
  Weight Analysis Factor Analysis 66.67% ANALYSIS
1. FOREX BROKER CREDIBILITY 28.00% FACTOR-1 ANALYSIS 17.67% FxOpen Credibility Analysis
1.1 FxOpen Level of Regulation 12.00% FSC (BVI)=1.0%, CYSEC=3.0%, CBI=4.0%, ASIC=4.0%, BaFIN=5.0%, FSA (UK)=6.0%, FINMA=8.0% and MiFID=+4.0% 8.00% FxOpen is regulated by FSP (New Zeeland) and FCA (UK) = 8.0%
1.2 FxOpen Headquarters Base 5.00% Offshore=0%, Cyprus=2.0%, Ireland, Australia=4.0%, USA, UK, Germany, France, Switzerland=5.0% 4.00% FxOpen Home Base is in New Zeeland = 4.0%
1.3 FxOpen Years in the Market 4.00% 0-2 Years=0%, 2-4 Years =1.0%, 5-7 Years=2.0%, 7-10 Years=3.0%, 10+ Years =4.0% 3.00% FxOpen was found in 2005 7-10 years = 3.0%
1.4 US Traders 2.00% Yes=2.0 or No=0 0.00% FxOpen doesn't allow US traders = 0%
1.5 FxOpen Web Ratings (Usage for differentiating results) 5.00% 2 Ratings: ForexPeaceArmy Rating=2.5%, EarnForex Rating=2.5% 2.67% FxOpen FX FPA=3.039 / 5.0 & Earn Forex= 4.6 / 10.0 Total = 5.339 / 10.0 = 2.6695
         
2. FOREX BROKER COMPETITION 30.00% FACTOR-2 ANALYSIS 20.00% FxOpen Competition Analysis
2.1 FxOpen Offering Spread (EUR/USD) 12.00% EUR/USD Spread <0.5=12.0%, <0.6=11.0%, <0.7=10.0%, <0.8=9.0%, <0.9=8.0%, <1.0=7.0%, <1.25=6.0%, <1.50=5.0%, <2.0=4.0%, <2.5=3.0%, <3.0=2.0%, <3.5=1.5%, <4.0=1.0%, >4%=0 4.00% FxOpen EUR/USD Spread is 2 pips = 4.0% (There are zero spreads accounts but with Commissions Charged) = 4%
2.2 FxOpen Commissions on Trading 7.00% No Commissions=7%, Low Commissions=4%, Low to Medium Commissions=3%, Medium Commissions=2%, Medium to High Commissions=1%, High Commissions=0  7.00% Given the fixed spread of 2 pips -No Commissions are charged by FxOpen = 7.0%
2.3 FxOpen Commissions on Deposit / Withdrawal 2.00% Yes=0 or No=2.0% 0.00% Some Withdrawal Commissions are charged by FxOpen = 0.0%
2.4 FxOpen Maintenance Fees 2.00% Yes=0 or No=2.0% 2.00% No Standard Maintenance Fees by FxOpen = 2.0% {Be aware that If the Client:
(i ) does not access the Platform for 1 year and (ii) Account Balance is 50 USD or less, then some fees may be charged)
2.5 FxOpen Rate of Leverage 4.00% 400%+=4.0%, 350%=3.5%, 300%=3.0%, 250%=2.5%, 200%=2.0%, 150%=1.5%, 100%=1.0%, <100%=0% 4.00% Max Leverage at FxOpen is 1/500 = 4.0%
2.6 FxOpen Customer Service Quality 3.00% 24/7=1%, 24/6=0.5%, 24/5=0%, Phone=1.0%. Live Chat=1.0%, Skype=1.0% 3.00% FxOpen provides 24/5=0%, Phone=1%, Live Chat=1%, Skype=1% Total = 3.0%
3. FOREX BROKER OPTIONS 26.00% FACTOR-3 ANALYSIS 20.00% FxOpen Trading Analysis
3.1 FxOpen Availbale Forex Currencies 8.00% 45+ Currency Pairs=8.0%, 40+ Currency Pairs=7.0%, 35+ Currency Pairs=6.0%, 30+ Currency Pairs=5.0%, 25+ Currency Pairs=4.0%, 20+ Currency Pairs=3.0%, 15+ Currency Pairs=2.0%, 10+ Currency Pairs=1.0%, Less than 10 pairs=0 8.00% FxOpen offers 48 Forex Currencies = 8.0%
3.2 FxOpen Other Financials Available 2.00% Commodities=1.0%, Energy=1.0%, CFD trading=1.0% 1.00% FxOpen offers Commodities Trading (Gold & Silver) = 1.0%
3.3 FxOpen Bonus / Rebate Rate 8.00% Bonus / Rebate >40%=8.0%, >35%=7.0%, >30%=6.0%, >25%=5.0% >20%=4.0%, >15%=3.0%, >10%=2.0%, >5%=1.0 3.00% Bonus is about 15% = 3.0%
3.4 Scalping Allowance 1.50% Yes=1.5% or No=0% 1.50% FxOpen allows Scalping = 1.5%
3.5 Hedging Availability 1.50% Yes=1.5% or No=0% 1.50% Yes FxOpen allows hedging = 1.5%
3.6 FxOpen Number of Deposit Methods 2.50% For each deposit method available=0,5%, max=5 methods 2.50% 4+ methods available by FxOpen (Credit Cards, Debit Cards Western Union, Bank Wire, CashU, MoneyBookers) = 2.5%
3.7 FxOpen Number of Withdrawal Methods 2.50% For each withdrawal method available=0,5%, max=5 methods 2.50% 4+ methods available by FxOpen (Credit Cards, Debit Cards Western Union, Bank Wire, CashU, MoneyBookers) = 2.5%
4. FOREX BROKER TECHNOLOGY 16.00% FACTOR-4 ANALYSIS 9.00% FxOpen Technological Analysis
4.1 FxOpen Available Platforms 5.00% Each Supported Platform=1%, max=5 1.00% Only MetaTrader4 platform is available at FxOpen = 1.0%
4.2 API Trading Availability 1.00% Yes=1.0 or No=0 1.00% Yes, API trading is available at FxOpen = 1.0%
4.3 Automated Trading (Expert Advisors) 2.00% Yes=2.0 or No=0 2.00% FxOpen allows signals from Expert Advisors = 2.0%
4.4 FxOpen Mobile Devices Support 2.00% Each Supported Device=0,5% (iPhone, iPad, Android, Windows Mobile, Blackberry), max=4 1.50% FxOpen provides applications for iPhone, iPAD and Android devices = 1.5%
4.5 FxOpen MT4 / MT5 Availability 1.00% Yes=1.0 or No=0 1.00% Yes, FxOpen offers Metatrader4 = 1.0%
4.6 FxOpen Level of Innovation 5.00% High Innovation=5%, Medium Innovation=2.5% 2.50% Medium Innovation (tight spreads, automated trading, API trading, nice ECN execution) = 2.5%

 

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FxOpen Rating & Review Analysis

Online Forex Reviews (2013) 

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