Fxopen worst spreads in the market | Forex Factory

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Fxopen worst spreads in the market

  • #1
  • First Post: Apr 14, 2020 10:26pm Apr 14, 2020 10:26pm
I am running 4 different live account with 4 different brokers one of them being FXopen.
In comparison to other broker they have the worse spreads i ever encountered, all their spread are always double compared to other brokers no matter the pair no matter the day or time even pairs such as eur/usd.
Queried them on their livechat they gave some nonsense reply " The spread size depends of market conditions."

On further investigation i noticed that these brokers are all somehow connected AAAFX , FXCM, FXopen and i believe they are one of the same entity. Further investigation reveals a network of pammacounts connected to these brokers and the brokers are running the exact same parameters on their Trade servers, access points, manager terminal the only differences is the name of the brokers are different.

I conclude if you looking for a good broker with low spread avoid those i have mentioned above.
  • #2
  • Apr 15, 2020 12:13am Apr 15, 2020 12:13am
I'm also doing a test on my live accounts in fp markets and tickmill....
I shall fund one or the other.....depending what I can find out what they do on live accounts.,

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  • #3
  • Apr 15, 2020 12:46am Apr 15, 2020 12:46am
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  • #4
  • Apr 15, 2020 4:10am Apr 15, 2020 4:10am
I have added another one which I'm more keen to work with. But they just now approved my live acc....lets see how it goes,
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  • #5
  • Apr 16, 2020 1:50am Apr 16, 2020 1:50am
I also have an account at fxopen UK, and they are the worst. Sometime ago they had decent spreads and good execution, now their spreads are one of the worst and they are charging me a 10€ commission per lot. I will close my account very soon and will open a new one on admiral markets, they seem a good broker with low spreads and lower commissions.
  • #6
  • Edited 7:50am Apr 16, 2020 7:31am | Edited 7:50am
Quoting Coy0te
I also have an account at fxopen UK, and they are the worst. Sometime ago they had decent spreads and good execution, now their spreads are one of the worst and they are charging me a 10€ commission per lot. I will close my account very soon and will open a new one on admiral markets, they seem a good broker with low spreads and lower commissions.
This is not correct as i am trading with the FXOPEN for the last 10 years. They have the lowest spreads in the ECN trading account. Also what you said about commissions is not true. And now the commission per lot they are charging is just 0.75$ per lot.

If you will look in the EURUSD the Spread is 1.08862 - 1.08859 = 0.00003 and this is the Inter Bank spread of the ECN account.
In USDJPY the Spread is 107.527 - 107.524 = 0.003
So please do not spread misinformation about a broker.
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FXOpen - International True ECN Broker
  • #7
  • Apr 16, 2020 11:22pm Apr 16, 2020 11:22pm
We talking bout fxopen stp account, on their website they have a Real-Time Real Spread Comparison but oddly when you go on the live account on mt4 the spread is higher than what they display on their website . Daylight robbery...
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  • #8
  • Apr 17, 2020 6:28am Apr 17, 2020 6:28am
Quoting mu2k
We talking bout fxopen stp account, on their website they have a Real-Time Real Spread Comparison but oddly when you go on the live account on mt4 the spread is higher than what they display on their website . Daylight robbery... {image}
In the fxopen stp account the Real-Time spread is same what is mentioned on their website. When you are using Auto trading on the STP account then a Spread markup is added 10pips for ask and 10pips for bid.

As you can see the Spread for EURUSD in STP account of FxOpen is 1.08418 - 1.08403 = 0.00015
Since you are using the autotrading a spread markup of 20 pips is added to your account.
At the time you took the screenshot the EURUSD spread was 0.00016 so you see the spread as 16 + 20 = 36
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FXOpen - International True ECN Broker
  • #9
  • Apr 19, 2020 6:09am Apr 19, 2020 6:09am
Quoting EuroScalper
{quote} In the fxopen stp account the Real-Time spread is same what is mentioned on their website. When you are using Auto trading on the STP account then a Spread markup is added 10pips for ask and 10pips for bid. As you can see the Spread for EURUSD in STP account of FxOpen is 1.08418 - 1.08403 = 0.00015 Since you are using the autotrading a spread markup of 20 pips is added to your account. At the time you took the screenshot the EURUSD spread was 0.00016 so you see the spread as 16 + 20 = 36 {image}
No difference with or without autotrade in spread. You also not using an stp account, your account is ECN. Regardless their spreads are higher than the averages.
  • #10
  • Apr 20, 2020 3:57am Apr 20, 2020 3:57am
Quoting mu2k
{quote} No difference with or without autotrade in spread. You also not using an stp account, your account is ECN. Regardless their spreads are higher than the averages.
I am trading in both the STP as well as the ECN accounts with fxopen.

If you would look clearly in the Post# 6 it is the ECN account that I have given the screenshot and it is also where you can see the server as ECN Live server.

In the Post # 8 it is the STP account that I am talking about as you can see clearly the server as Fxopen Real1 which is the STP server.
This is why I had included the server in the screenshot that I have taken

When you are using the auto trade service then its a third party service which takes the fees in the form of additional markup to the spread. This is why you will see a increased spreads for the auto trading accounts.

The spreads that you are are the actual spreads and not artificially lowered like other brokers.

The main trading account is the ECN account and if you want to trade with the lowest spreads then use the ECN account without auto trading like I am doing.

Also you can see the Real time spreads in the screenshot given below taken from Myfxbook which is tracking the real time spreads of all the brokers.
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FXOpen - International True ECN Broker
  • #11
  • Apr 20, 2020 6:42am Apr 20, 2020 6:42am
For me, fxopen offers the best trading conditions for ECN, it is not just about spread!
stable and constant execution, no inconveniences during trading also matters.
Go back to the spread, for my favorite pair USD/JPY A Sometimes, I trade it with 1 and 2 pip spreads
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  • #12
  • Apr 28, 2020 9:23pm Apr 28, 2020 9:23pm
Quoting EuroScalper
{quote} I am trading in both the STP as well as the ECN accounts with fxopen. If you would look clearly in the Post# 6 it is the ECN account that I have given the screenshot and it is also where you can see the server as ECN Live server. In the Post # 8 it is the STP account that I am talking about as you can see clearly the server as Fxopen Real1 which is the STP server. This is why I had included the server in the screenshot that I have taken When you are using the auto trade service then its a third party service which takes the fees in the form...
We not talking about ecn account ,we talking about stp account. And we not using any autotrading service.

All other stp account from other brokers have lower spread than FXopen rip off spreads when you make a comparaisons.
  • #13
  • Last Post: Edited 4:51am May 1, 2020 4:01am | Edited 4:51am
Quoting mu2k
{quote} We not talking about ecn account ,we talking about stp account.
Yes I am also taking about the STP account of FXopen, and as you can see the screenshot spreads below are of the STP account.
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Quoting mu2k
{quote} All other stp account from other brokers have lower spread than FXopen rip off spreads when you make a comparaisons.
You can also check the screenshot of the Myfxbook which is displaying the Real time spreads of the FXopen STP account and also other brokers.
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Quoting mu2k
{quote} And we not using any autotrading service.
If you will use Autotrading service then only the spreads are increased. Otherwise they are same as you can see in the Real time Spreads in the Myfxbook website.

So whatever you have said till now has been proved to be incorrect and misleading.
FXOpen - International True ECN Broker
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