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Thread: Is Fxopen great for Expert advisors?

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    Default Is Fxopen great for Expert advisors?

    Hi guys,

    I just came across Fxopen and would like to give it a try. I have an account with ****, but is considering of opening another account. I like Fxopen for :

    1) It has micro account where 1 pips = 1 cents
    2) Various mode of payments. However any advise which one is the best?
    3) A myfxopen platform for easy management of funds
    4) Seems to have an active and friendly foirum

    However, I do a lot of automatic trades via EA, is Fxopen good for this? Do they allow scalping by the EA? Also, how is the response to their support?

    Also, any good and friendly Introducing broker who are seriously interested in their trader welfare to recommend?

    Thanks

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    Director of FXOpen Aus FXOjafar's Avatar
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    Hi. EAs work fine on FXOpen. As for EA scalping, you must be sure that the majority of the trades are held for 1 minute or more. This restriction is to ensure the server is not spammed.
    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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    i will always advise u to trade wt fxopen cos they are real brokers.

    fx open is a very good broker which allow expert advisor
    Last edited by nonamer; 01-26-2009 at 10:55 AM. Reason: back to back post in short time

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    Quote Originally Posted by RebateFX.com View Post
    Hi. EAs work fine on FXOpen. As for EA scalping, you must be sure that the majority of the trades are held for 1 minute or more. This restriction is to ensure the server is not spammed.
    Thanks for your comments.

    I guess the only issue I found now is on the depositing/withdrawal of funds. Those accepted payment mode now requires a exchanger which charges high fee. Take Liberty reserve for example. The fee at LR is low, but the exchanger (not within the control of LR) charges very high fee.

    Hence, I guess I have to wait for paypal, or otherwise use wire transfer. I hope paypal will come true.

    BYW, anyone knows what is the charges for wire transfer fee?

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    Quote Originally Posted by vinckkw View Post
    BYW, anyone knows what is the charges for wire transfer fee?
    There is no charge by fxopen for wire deposit. Withdrawal is $50.
    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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    EA's do work very well with FXopen, besides my own positive experiences, I've heard of other traders having no problem at all.

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    Quote Originally Posted by vinckkw View Post
    Hi guys,

    I just came across Fxopen and would like to give it a try. I have an account with ****, but is considering of opening another account. I like Fxopen for :

    1) It has micro account where 1 pips = 1 cents
    2) Various mode of payments. However any advise which one is the best?
    3) A myfxopen platform for easy management of funds
    4) Seems to have an active and friendly foirum

    However, I do a lot of automatic trades via EA, is Fxopen good for this? Do they allow scalping by the EA? Also, how is the response to their support?

    Also, any good and friendly Introducing broker who are seriously interested in their trader welfare to recommend?

    Thanks
    I have tries Some EA ( scaliping Also ) with some MT4 ...
    Some Broker Doesn't Accept Scaliping ...
    good experience with FXopen ( Demo ) with Some EA ....
    FXopen is a good choice for EA ( automated trading )
    sorry for my bad english

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    Thanks guys....

    Ok..I need some help on the account type. Please correct me if my understanding below is wrong

    Standard account
    -smallest lot is 0.1
    - at 0.1 lot, 1 pip is approximately $1

    Micro account
    -smallest lot is 0.1
    -at 0.1 lot, 1 pip is approximately 1 cents
    - balance is shown in cents...so $1500 will be shown as 150,000 in the balance

    Is the above correct?

    For the demo account, do they use standard or micro??
    Last edited by vinckkw; 01-29-2009 at 02:59 PM.

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    Quote Originally Posted by vinckkw View Post
    Thanks guys....

    Ok..I need some help on the account type. Please correct me if my understanding below is wrong

    Standard account
    -smallest lot is 0.1
    - at 0.1 lot, 1 pip is approximately $1

    Micro account
    -smallest lot is 0.1
    -at 0.1 lot, 1 pip is approximately 1 cents
    - balance is shown in cents...so $1500 will be shown as 150,000 in the balance

    Is the above correct?

    For the demo account, do they use standard or micro??
    Can someone help me on the above please?

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    Super Moderator nonamer's Avatar
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    Quote Originally Posted by vinckkw View Post
    Thanks guys....

    Ok..I need some help on the account type. Please correct me if my understanding below is wrong

    Standard account
    -smallest lot is 0.1
    - at 0.1 lot, 1 pip is approximately $1

    Micro account
    -smallest lot is 0.1
    -at 0.1 lot, 1 pip is approximately 1 cents
    - balance is shown in cents...so $1500 will be shown as 150,000 in the balance

    Is the above correct?

    Yes, correct.

    For the demo account, do they use standard or micro??
    demo account are like standard account.
    Thanks

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    well i think ea is legal to use in fxopen??

    coz in their rules... it legal...

    hmmm... please correct

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    Quote Originally Posted by dongdot View Post
    well i think ea is legal to use in fxopen??

    coz in their rules... it legal...

    hmmm... please correct
    read this -->
    FXOPEN are are allowed client to use EA in trading.
    http://forum.fxopen.com/showpost.php...91&postcount=2

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    how did you want to opene account where the pip = 1cent
    the minmum is micro account where 1 pip = 10 cents ??????

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    Quote Originally Posted by fxtrader77 View Post
    how did you want to opene account where the pip = 1cent
    the minmum is micro account where 1 pip = 10 cents ??????
    Hi,

    Trading volume from 0.1 micro lot, 1 pip is 1 cent approximately(1 micro lot = 1000 points of the base currency) *balance on micro accounts is indicated in cents

    - 0.1lot micro account are equal with 1cents/1pips
    - 1.0lot micro account are equal with 10cents/1pips
    - 10.0lot micro account are equal with 1 usd/1pips

    Thanks

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    Default

    fx open is a very good broker which allow expert advisor

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