
FxOpen Forex Broker -Full Rating Analysis (v.2)
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% |
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% |
FxOpen Rating & Review Analysis
Online Forex Reviews (2013)