My comments are not to be taken as trading advice, not a financial advisor
- | Commercial Member | Joined Dec 2010 | 1,135 Posts
No longer trading forex. Looking for full time job.
FxOpen Discussion 4 replies
Issues with FXOpen 289 replies
fxopen ecn/stp spread profit 2 replies
FXopen ECN 27 replies
Fxopen Are Scammer .................... ............... .. 5 replies
DislikedSo deposits are only in USD, but you don't allow US clients?
Deposits take a 'couple of minutes'? Does that mean there is human handling? If so, is this the case 24/5? Why not instant like other brokers?Ignored
DislikedFor those who can't be bothered reading the PDS.
Note there is nothing really new here, it is pretty much a std type template of all the FX brokers in Aus, but it does conflict a little with FXOjafar's comments.
The FX game is still largely unregulated, so the PDS is their main defence if any concerns arise. The most common excuse is the old chestnut, blame the 'third party software' so it is quite convenient for brokers to use metatrader or similar. Been through it all with ASIC and F.O.S support and got my money back, not with FXOpen...Ignored
DislikedI think both of Jafar's replies have answered you clearly, but you kept asking the same questions. He already told you they only have ECN account types. And no re-quotes.
I don't see any reason Jafar should post the same reply the 4th time. If you don't get it, you never will.Ignored
DislikedHi Cogs. We accept deposits and withdrawals in AUD, USD, EUR, GBP, CHF, JPY and SGD. Manual processing is for your safety to ensure that the correct amount of money goes to the correct account. We also sometimes call you and confirm withdrawal requests. Skrill deposits however are automatic due to the Skrill API.Ignored
QuoteDislikedYou know that we are legally bound to declare that MT4 is not under our control and if Metaquotes releases a patch that causes instability, we cannot be held responsible. Our own proprietary platform is still under development but when it is complete, you will have a choice of trading platforms. You can even trade without MT4 using our API if you are so technically inclined to use it.
I look forward to you trying our services and I hope that you will be 100% satisfied.
DislikedThanks for your reply FXOjafar.
Any broker that goes the extra mile with presumed honesty will certainly be appreciated by retail traders.
One question I forgot to ask yesterday was: How can you set stop/limit order distance at zero when the minimum requirement (according to Pepperstone and other brokers) is 20 pips?
Just using your demo now, there are profits to be made.
I will be interested to see how long you can keep the settings as they currently are. How long do you plan to let the spread settings stay so thin and even minus?...Ignored
DislikedDidn't know you had an API. Can you tell us more about minimum trading volume, or any other minimum conditions to obtain access to API?
Are the order trading conditions the same as MT4? like minimum order is 0.1 lot or 10,000 units of base currency?Ignored
QuoteDislikedinstant deposits is not so much about technology in the backoffice of being
able to credit the client account, but also about risk management. Especially
with the potential for credit card fraud and other frauds, a few minutes delay
is not going to kill most traders, even if you were approaching a margin call
situation.
Dislikedybfjax,
Didn't ask for your opinion mate.
But while I have our attention - I had an account many years ago with City Index, and now Pepperstone have instant, and mate, it makes a difference!
Too many excuses for delays of why our hard earned funds aren't in our trading accounts.Ignored
Dislikedybfjax,
Didn't ask for your opinion mate.
But while I have our attention - I had an account many years ago with City Index, and now Pepperstone have instant, and mate, it makes a difference!
Too many excuses for delays of why our hard earned funds aren't in our trading accounts.Ignored
Dislikedybfjax,
Didn't ask for your opinion mate.
But while I have our attention - I had an account many years ago with City Index, and now Pepperstone have instant, and mate, it makes a difference!
Too many excuses for delays of why our hard earned funds aren't in our trading accounts.Ignored
DislikedHow reliable is it and how often do you get disconnections and are stops still functional in the event of a disconnection?Ignored
DislikedIf I am to deposit >25k with you guys then I am on the VIP commission rate but does my balance need to stay above 25k to remain on the rate?Ignored
DislikedAlso, is there room for extra discounts on commission based on volume traded?Ignored
DislikedMy concern is that last look function slows down execution time and causes excessive slippage. From your comments on the fact that in your testing, 1000unit orders where rejected then I would assume that the aggregation system you use does have the last look function.Ignored
DislikedI was close to opening an account with IC markets but read another thread in a different forum that were talking about poor execution, disconnections and very large slippage. IC markets have blamed this on multiple rejections by their LPs using the last look feature as well as ctrader going down often (their aggregation system) and have taken measures to fix the problems which I will have to wait and see about. I currently trade with OANDA (and have an account with lmax but it is too early to comment on their performance) and I am used to market...Ignored
Dislikedps - metatrader is crap for charting and crap for execution. Please consider other platforms. You mentioned if I 'build my own bridge' I can use a different package. Is this possible for someone with no programming skills?Ignored
DislikedToday, i did open demo ecn account. mt4 connection status is unstable. my internet connection is good. and ohter brokers are good.Ignored
DislikedHi Entheos Our Demo system may experience disconnections or other instability as it is a testing environment. We cannot guarantee it's reliability unlike our live servers which are rock solid.Ignored
DislikedHi Entheos Our Demo system may experience disconnections or other instability as it is a testing environment. We cannot guarantee it's reliability unlike our live servers which are rock solid.Ignored