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Thread: New US customer question

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    Default New US customer question

    Hello, I am hoping the admin may help quell my worries. I have read of numerous stories of people's account at FXOpen being mysteriously closed when they get too far into profit and trades not filled and clients having withdrawal problems. I have also read that you trade against the client. I read and am a member of FPA and other forums. These concerns and issues worry me. This is not meant to critique, I just want to feel comfortable investing with FXOpen. Thanks!

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    Denis Peganov, FXOpen Development Director cool user FXOpen Manager's Avatar
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    Default

    Quote Originally Posted by aagarcia View Post
    Hello, I am hoping the admin may help quell my worries. I have read of numerous stories of people's account at FXOpen being mysteriously closed when they get too far into profit and trades not filled and clients having withdrawal problems. I have also read that you trade against the client. I read and am a member of FPA and other forums. These concerns and issues worry me. This is not meant to critique, I just want to feel comfortable investing with FXOpen. Thanks!
    Hello aagarcia ,
    I believe that it is not right for me to write about FXOpen advantages as I am a part of the company. In case you have some worries about FXOpen I propose you to open a small micro account and try to use it as long a you need to feel "safe" (1 month or 3 years doesn't matter).In case you like it you will have own experience and maybe you will open a bigger account in case you do not like it you have a choice among numerous companies around. I believe it is a fair proposal...

    Best regards.

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    Thank you manager. I think one of my concerns is regulation. SIBA is pretty much not very strong. Are there any plans for NFA or greater regulatory bodies?

    Thank you

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    Denis Peganov, FXOpen Development Director cool user FXOpen Manager's Avatar
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    Quote Originally Posted by aagarcia View Post
    Thank you manager. I think one of my concerns is regulation. SIBA is pretty much not very strong. Are there any plans for NFA or greater regulatory bodies?

    Thank you
    There will be some changes about which we will inform in the nearest future.
    Regarding NFA license I can say that we are not planning to get it for the several reasons:
    1) Our main business is not located in USA territory and as you know NFA license is required for US located companies only.
    2) The policy of NFA regulator became "frustrating" for us. I believe that the same believe pushed a lot of reputable companies to stop their US activity in the last few months and we think more will do the same in the nearest future.

    Incase FXOpen will plan to start operating in US territory definatelly we will apply for NFA license as it is a law.

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    Default

    Thank you. Are these soon to be changes, regulatory in nature?

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    Director of FXOpen Aus FXOjafar's Avatar
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    Default

    Hi aagarcia. Every company has one claim or another against them on the internet. Some more than others due to popularity for the most part.
    I'm sure you have noticed that FXOpen has a good reputation on FPA forums as we have always responded to them in a prompt and professional manner. Honest and open peer review such as there is on FPA is important to us as it can give us more ideas on how to improve our services and to fix any problems that are bound to arise with a fast growing company such as FXOpen.

    May your experience at FXOpen be a pleasant one.
    Jafar Calley - Director
    FXOpen AU Pty Ltd
    Level 26 • 1 Bligh Street
    Sydney NSW 2000
    Australia
    AFSL:412871 ABN:61 143 678 719
    http://www.fxopenaus.com

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    Default

    Yes thank you I have seen your replies on FPA and like your proactive approach. One question please. How is it that you are able to provide such low spreads? I mean no other broker even those with direct ECN have spreads these low in this volatile environment. I'm sure you share some of the same liquidity providers so how are you able to sustain these low ,tight spreads?

    Thanks again

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