FxOpen is an online based forex broker that provides forex trading services for the trade of financial assets and securities such as currencies, cryptocurrencies, forex, stocks, and futures. This brokerage firm provides an ECN trading account to its clients through MetaTrader 4 terminal that is characterized by low spreads and low forex trading commission. The brokerage company was established by a set of New Zealand traders in the year 2005 and since then, the broker has been known to provide effective trading platforms for the trade of over 90 assets, provides forex traders with a one-click trade execution option, avail effective trading tools and charting systems, provide traders with risk management tool of different functionality, offer easy and reliable payment options and provide security to the fullest.
FEATURES OF FXOPEN FOREX BROKER INCLUDES
COPY TRADE SYSTEM
This brokerage firm (FxOpen) is known to be a beginner-friendly forex trading broker which includes a copy trade system for both newbies and experienced traders. A copy trade system is a platform where less experienced forex traders copy the strategies, signals, and way of trading of more experienced traders with the expectation of achieving success and making high returns. FxOpen provides its clients with a list of traders and their respective data and other traders can affect the suitable changes to their trading account by following their signals.
FOREX TRADING TOOLS
FxOpen forex broker provides a lot of trading tools which is embedded in each forex trading account and coveys a system of trading forex while making major decisions that produced high profits. These trading tools are key to achieving success in the trade of instruments like currencies, cryptocurrencies, forex, stocks and futures and they include:
- FOREX TRADING SIGNALS
FxOpen provides its clients with real-time forex trading signals that help forex traders know the specific time to enter or exit a trade position. These forex trading signals are originated from market professionals and includes basic trading information like an asset's target entry price, stop level and rationale for every forex trade conveyed to a trader in a full trading tad through faraday research. Forex signals entails research platform which functions by scanning/analyzing the entire forex market in search of various trading opportunities and gives out information to users in form of signals.
- TECHNICAL INDICATORS
This online brokerage company provides its clients with functional technical indicators used as a base point on price action analysis chart to determine when to enter or exit a particular trade position. These technical indicators include support and resistance levels, moving averages, pivot point, and Bolinger bands.
- RISK MANAGEMENT TOOLS
Every forex trade is associated with a minimum amount of risk. Risk management is simply developing a strategy for the identification, evaluation, and analysis of possible forex trading risk that may come up while trading the market and the subsequent application of approaches to minimize the risk. FxOpen avails suitable risk management tools that not only minimize risk but also maximizes profits in the long run. Examples of risk management tools offered by FxOpen broker include:
- Stop loss: here, the broker can place an order for its client specifying that the trade of a particular security be carried out when the price researches certain range.
- Position Sizing: this is to control risk by determining how many units of a security a trader can buy.
- Swing Trading: this attempts to take profits in a security in the period of an overnight hold to several weeks.
Other forex trading tools include
- A one-click trading and level2 plugin that gives forex traders the ability to execute forex trades within seconds, place and close market orders, and set predefined order size in each trade.
- A margin and pip value calculator that help calculate the margin and pip value when a trade is opened.
- A currency exchange rate calculator that provides the presided conversion rates of an asset for another when transferring between multi-currency accounts.
- A commission calculator use in the calculation of ENC commissions and fees.
FOREX TRADING PLATFORMS
There are various types of forex trading platforms made available by FxOpen to its clients. These platforms are designed to provide a comfortable trading environment for the trade of various assets, securities, and instruments. They include various high technological setups like advanced charting tools, charting systems, trading technologies, auto trading options, copy trading systems, standard Graphic User Interface and graphs that lead to an essay trading venture. Examples of these forex trading platforms include Metatrader 4 Trading Platform, Web-Trader Trading Platform, Mobile Trading Platform, Auto-Trading Platforms, Myfxbook, Zulutrade Platform, VPS Forex Auto Platform.
In conclusion, FxOpen provides its clients with a wide range of forex trading accounts that range from standard, ECN and crypto trading accounts, provides a 24 hours customer service care of clients and provides security of funds, accounts, and information.