FXOpen offers mainly trading services in the Forex market. This retail and institutional broker uses industry ready technology and platform with customers from across the world.
Electronic Broker in Forex
The main platform that FXOpen uses is the industry standard MetaTrader 4. Its ECN or Electronics Communication Network offers all types of services to allow trading in known commodities. This includes precious metals, CFDs, currencies and the more contemporary cryptocurrencies.
FXOpen has several main offices including headquarters around the world. Its London HQ is one of the prominent ones while FXOpen runs its operations in countries like Saint Kitts and Nevis, Australia and Russia.
Milestones of FXOpen
It started in 2003 when it was an educational centre in Egypt. Then, it offered course in technical analysis before launching its own brokerage services 2 years later. FXOpen is among the few brokers that provide Shariay compliant finance services. This came in 2006 when it started offering these services as well as Mirco accounts.
3 years after that, started its own proprietary technology that bridged retail traders to the ECN market. This was done using the MT technology together with ECN PAMM platforms. After that, it moved to its head office in New Zealand before launching STP accounts. This came about at the time when FXOpen was already trading USD100 billion each month. It was in 2014 when FXOpen ventured into cryptocurrencies involving Peercoins, Litecoins and Bitcoins. A year after that, FXOpen started trading services for wholesale services and launched its CFDs services for ECN users.
The ECN-integrated MT4 trading platform is FXOpen’s main technology. This is where users are able to use the trading robots more fondly known as Expert Advisors or EAs. Besides that, FXOpen offers its One Click Trading Level 2 Plugin or OCTL which integrates very seamlessly with its MT4 channel. It is among the few online brokers where users can trade using the Android platform through its FXOpen Trader for Android.
FXOpen’s regulatory bodies
Several companies make up FXOpen which mean it is under the purview of several bodies. This includes its FXOpen AU Pty Ltd which is regulated by the Australian Securities and Investments Commission as it is based in Sydney. Its London office is FXOpen Ltd which is regulated by the Financial Conduct Authority in the United Kingdom. Meanwhile, FXOpen is also based in Moscow under FXOpen Company Russia.