FXOpen

FXOpen is a retail and institutional forex broker offering online trading services via MetaTrader 4 and MetaTrader 5 trading platforms. It provides access to the electronic communication network (ECN) to execute trades in currency pairs, precious metals, CFDs and cryptocurrency pairs. FXOpen companies operate in Australia, Saint Kitts and Nevis and the United Kingdom and have representatives in a number of other countries.[2][3][4][5]

FXOpen
TypePrivate
IndustryFinancial services
Founded2003 (2003)
Headquarters
Perth, Australia
London, United Kingdom
Charlestown, Saint Kitts and Nevis
Key people
Jafar Calley (Director)
Alexey Stepanov (CEO)
ServicesOnline Forex trading, precious metals trading, CFDs, cryptocurrency trading
Number of employees
500+[1]
WebsiteFXOpen Markets Limited
FXOpen AU Pty Ltd
FXOpen Ltd
FXOpen LP Limited

History

FXOpen was founded in 2003 as an educational centre of technical analysis in Egypt.[6][7]

In 2005, the company launched a brokerage services. In 2006, the company introduced Micro accounts and swap-free Shari’a compliant accounts.[7]

In 2009, FXOpen developed its own bridge technology that provided retail traders with an access to the ECN market via the MetaTrader platform. Subsequently, it also provided ECN PAMM accounts.[8]

In December 2011, the company moved its registered head office to Auckland.

In August 2014, FXOpen NZ Limited stopped issuing derivatives to retail customers and the company was deregistered from the financial services provider register. In July 2015, New Zealand revoking its registration from the Financial Dispute Resolution Scheme. Since 2015, FXOpen LP Limited (New Zealand) a limited partnership, provides trading technology platform to wholesale customers.[9]

Operations

FXOpen offers an ECN-integrated MT4 and MT5 trading platforms, compatible with algorithmic trading. It enables users to apply various trading robots, known as expert advisors.[8]

FXOpen provides traders with proprietary designed One Click Trading Level2 Plugin software (OCTL). The tool was released in February 2013 and is regarded as the Level2 application update optimizing the order execution process in the MT4 platform.[10]


Regulatory information

Several regulated companies operate under FXOpen brand name:

  • FXOpen Markets Limited, registered in Nevis, registration number C42235.
  • FXOpen LP Limited, registered in Auckland, New Zealand, registration number 5598865.[11]

Sponsorships

The company has used sponsorship to promote itself and these have included:

  • Helped to organise and promote the FXOpen Path of Ascension tournament in 2010 and similar eSports championships.[12] FXOpen sponsored its own StarCraft II professional team in 2010–2013.[13] FXOpen sponsored the StarCraft II championship winning team in the 1st Hong Kong e-Sports Tournament.[14]
  • In 2011, FXOpen took participation in organizing and promoting the FXOpen Drift 2011 competition.[15]


References
  1. "Working at FXOpen". Glassdoor.com. Retrieved 16 April 2015.
  2. "FXOpen Forex Broker". EarnForex.com. Retrieved 16 April 2015.
  3. "Australian financial services licensing". ASIC. Retrieved 16 April 2015.
  4. "579202 - FXOpen Ltd". FCA. Retrieved 16 April 2015.
  5. "ООО "ОТКРЫТЫЙ ФОРЭКС" - Москва". B2B-Project.ru (in Russian). Retrieved 16 April 2015.
  6. "International Association of Forex Traders". tradersunion.com. Retrieved 16 April 2015.
  7. "Innovations for traders' sake". World Finance. 4 January 2011. Retrieved 16 April 2015.
  8. Greenberg, Michael (12 October 2009). "FXOpen keeps up with the innovation - launches first ever ECN PAMM accounts based on Metatrader 4". FinanceMagnates. Retrieved 16 April 2015.
  9. "FXOPEN NP LIMITED (Registered)". Companies Office of New Zealand. Retrieved 10 June 2016.
  10. Nikolova, Maria (17 September 2013). "FXOpen Releases Updated Plugin for One Click Trading, Market Depth". Forexbrokerz.com. Retrieved 16 April 2015.
  11. "FXOPEN LP LIMITED". Retrieved 2020-05-29.
  12. "FXOpen Path of Ascension - Liquipedia - The StarCraft II Encyclopedia". Wiki.teamliquid.net. Retrieved 16 April 2015.
  13. "FXOpen e-Sports - Liquipedia - The StarCraft II Encyclopedia". Wiki.teamliquid.net. Retrieved 16 April 2015.
  14. "1st Hong Kong Esports Tournament - Liquipedia - The StarCraft II Encyclopedia". Wiki.teamliquid.net. Retrieved 16 April 2015.
  15. Zhelev, Stanimir (23 June 2011). "FxOpen sponsors the biggest drift competition in Europe". Forexbrokerz.com. Retrieved 16 April 2015.
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