The start of FXOpen LIVE ECN/STP!

[SHAMX777]

FXOpen ECN starts to get widely recognized This guy... as I remember last time... he gave a cynical and skeptical comment about the new ECN platform. Now... look at him... falling in love with FXOpen ECN plaform already

Click here to read the comment about FXOpen ECN platform >>> http://forexmagnates.com/fxopen’s-mt...ght/#more-1438

I respect this kind of person... he did his research thoroughly before giving any comments... even though he was a bit skeptical in the first place. He came back with more detail info and fact to back up or dismiss his original hypothesis.

Just wanna share this in here

Hot Quotes:

A few days ago I received a personal tour and had a chance to review the company’s technology as well to see how the liquidity is provided (can’t say who the liquidity provider is for now, but it’s big, very big).

Moreover, I got a chance to see some of FXOpen’s statements and was pleasantly surprised to have found that this is not a small broker by any rate. FXOpen’s monthly volume average is around $55B which puts it above several known and popular brokers and is a sign of confidence by traders.

Looks like they have acces to the Swiss Forex Marketplace since they offer trading in the exact same pairs. anyway, it is an excellent source of liquidity and offers very competitive spreads. This makes FXOpen a very interesting alternative to some of the more well known brokers out there.

Way to go Fxopen!

[mottyhall]

in the conditions they state that they do not allow sniping, and they reserve the right to cancel your contract if they deem it appropriate also you need to open an account for $1000
to get ECN I have FAP TURBO witch I cannot use due to it being a sniper type EA,
Anybody got any Ideas as to what automated system I could use?

[finimej]

to be able to trade on 1 lot, the deposite shall be around 10K to have a reasonable money management.

FXopen is unregulated in anywere, and is registed in Mauritius.

Is my 10K USD funds safe with you, if I open an ECN account?
How do you approve my funds will be save with you then?

[FXOpen Alex]

in the conditions they state that they do not allow sniping, and they reserve the right to cancel your contract if they deem it appropriate also you need to open an account for $1000
to get ECN I have FAP TURBO witch I cannot use due to it being a sniper type EA,
Anybody got any Ideas as to what automated system I could use?

We don't have any restrictions for trading styles. You can trade FAP turbo or any other trading system with us.

[FXOpen Alex]

to be able to trade on 1 lot, the deposite shall be around 10K to have a reasonable money management.

FXopen is unregulated in anywere, and is registed in Mauritius.

Is my 10K USD funds safe with you, if I open an ECN account?
How do you approve my funds will be save with you then?

FXOpen regulated by Financial Service Commission (FSC), with the Licence No: C108006805
Your funds is safe with us.

[finimej]

I would very much like to open an ECN account at FXopen. I ofcause checkout the reputation of FXopen on the internet, because I want to sleep well with 10K funds at fXopen.

This case made me worry.

forexpeacearmy.com/forex-forum/scam-alerts-folder/3958-fxopen-scam-broker-blocked-my-account-profits-around-46-000-a.html

several not so nice reviews here
forexjustice.com/Review_Section/Forex_Broker_Reviews/FX_OPEN.html

Beside MaXey and FXopen still have unsolved issues.

Any body here has real account with FXopen and does not have problem with withdraw?

[leafar1715]

have a high diference in trade with ECN?

[FXOpen Manager]

I would very much like to open an ECN account at FXopen. I ofcause checkout the reputation of FXopen on the internet, because I want to sleep well with 10K funds at fXopen.

This case made me worry.

forexpeacearmy.com/forex-forum/scam-alerts-folder/3958-fxopen-scam-broker-blocked-my-account-profits-around-46-000-a.html

several not so nice reviews here
forexjustice.com/Review_Section/Forex_Broker_Reviews/FX_OPEN.html

Beside MaXey and FXopen still have unsolved issues.

Any body here has real account with FXopen and does not have problem with withdraw?

Hello finimej,
Thanks for your question. I think all of the "cases" are regarding off market quotes trading at FXOpen Market Maker (like spikes trading etc), during the spike all trades (profitable and lose) are canceled, which can make some of the traders angry. It do not happen very often, but happen sometimes. Regarding some "unpaid" reports I do not think it is something real, because we always pay back Client's funds

Anyway, if you like to speak more about this please open a thread in International section of our forum and we will be glad to continue discussion there.
Thanks again, have a good trading.

[FXOpen Manager]

have a high diference in trade with ECN?

Hello leafar1715,
If you are talking about the difference between FXO Market Maker and FXO ECN then there is some difference because ECN has 5 decimal points thats why it seems more volatile...limit orders can be placed inside the spread...spread is floating (usually it is lower than FXO Market Maker have) and of course you can see Level II quots (orders book) which tell you exactly what is stay behind the price.

[finimej]

so on the ECN, there will not be off quote trading, or no requote at ECN then?

[leafar1715]

Hello leafar1715,
If you are talking about the difference between FXO Market Maker and FXO ECN then there is some difference because ECN has 5 decimal points thats why it seems more volatile...limit orders can be placed inside the spread...spread is floating (usually it is lower than FXO Market Maker have) and of course you can see Level II quots (orders book) which tell you exactly what is stay behind the price.

thanks

[FXOpen Manager]

so on the ECN, there will not be off quote trading, or no requote at ECN then?

Technically you are not able to open a trade if there is no liquidity in the market, as long as there is enough liquidity your trade will be process instant.

[FXOjafar]

to get ECN I have FAP TURBO witch I cannot use due to it being a sniper type EA,
Anybody got any Ideas as to what automated system I could use?

ECN being liquidity based with no dealing desk, you are free to basically do as you please. As long as the liquidity is available you can scalp, news trade, or do whatever you want as the money goes directly to market.

to be able to trade on 1 lot, the deposite shall be around 10K to have a reasonable money management.

Indeed. 1.00 lots on $10k is the riskiest MM I would be comfortable with myself.

FXopen is unregulated in anywere, and is registed in Mauritius.

FXOpen is Regulated by the Mauritius Financial Services Commission. It is a government regulator and has full jurisdiction over FXOpen being an offshore company. The fact that we are offshore would mean that if we registered with NFA or FSA for example, it would be pointless since they wouldn't be able to do any actual "regulating" with us.
The Mauritius FSC may not be as well known as NFA perhaps due to a lack of press coverage, but they are every bit as tough as any of the more well know ones.

Is my 10K USD funds safe with you, if I open an ECN account?
How do you approve my funds will be save with you then?

FXOpen has a turnover of around $55b per month at the moment and has experience growth in the region of 30%. We are, as I said a fully regulated broker. You have nothing to worry about with depositing $10k or more with us.

I would very much like to open an ECN account at FXopen. I ofcause checkout the reputation of FXopen on the internet, because I want to sleep well with 10K funds at fXopen.

Every popular company on the internet will have it's fair share of comments like these. Many of these cases are of people either using scripts to abuse the system, or people who don't understand the market or jumped into trading real money before they are ready and blame the broker for their losses.

This case made me worry.

forexpeacearmy.com/forex-forum/scam-alerts-folder/3958-fxopen-scam-broker-blocked-my-account-profits-around-46-000-a.html

This case was resolved long ago. He took it to FPA over a year after the events. He is now free to use our regulators to investigate. Some security issues that abuse off quotes spikes from internet lag etc... that are designed to defeat the dealing desk have been cleared up since these types of cases appeared.

And some of these cases a pure fabrications made up by unscrupulous competitors.

Beside MaXey and FXopen still have unsolved issues.

If you have followed MaXeY's story after FXOpen you will notice that he hasn't had any luck with his blacklisted script at any other broker either. Have you wondered why he never tries it on an ECN broker?

Any body here has real account with FXopen and does not have problem with withdraw?

We have nearly 200,000 registered accounts at the moment. Take your pick

so on the ECN, there will not be off quote trading, or no requote at ECN then?

ECN is liquidity based. If there is sufficient liquidity available at your price, you will be filled there. If not, you may get partially filled or even slipped. This is how the real market works.

Requotes are a thing of the past on ECN. As the execution is instant you will get filled at your price, and sometimes better or worse depending on the liquidity available at the time and the order type used.
On ECN, a deal is a deal and there is no dealing desk to offer you up a requote anyway.

[4EverMaAT]

can you request a market that is not normally offered on the platform demo, such as eur/sgd , gbp/sgd
or cad/chf?

[ilearn2t]

can you request a market that is not normally offered on the platform demo, such as eur/sgd , gbp/sgd
or cad/chf?

Hello FXOpen Manager

If the quote above is possible please add every trading pair for forex at the one time if it involves disrupting the platform in anyway.