FXOpen

Last updated

FXOpen
Company type Private
Industry Financial services
Founded2003;21 years ago (2003)
Headquarters
Perth, Australia
London, United Kingdom
Charlestown, Saint Kitts and Nevis
Limassol, Cyprus
Key people
Jafar Calley (Director)
Alexey Stepanov (CEO)
ServicesOnline Forex trading, precious metals trading, CFDs
Number of employees
500+ [1]
Website www.fxopen.com
www.fxopenprime.com

FXOpen is a retail and institutional forex broker offering online trading services via MetaTrader 4, MetaTrader 5 and TickTrader trading platforms. It provides access to the electronic communication network (ECN) to trade currency, commodity, indices and stock CFDs. FXOpen companies operate in Australia, Saint Kitts and Nevis, the United Kingdom and Cyprus and have representatives in a number of other countries. [2] [3] [4] [5]

Contents

History

FXOpen was founded in 2003 as an educational centre of technical analysis in Egypt. [6] [7] In 2005, the company launched a brokerage services. In 2006, the company introduced Micro accounts and swap-free Shari’a compliant accounts. [7] In 2009, FXOpen developed its own bridge technology that provided retail traders with an access to the ECN market via the MetaTrader platform. Subsequently, it also provided ECN PAMM accounts. [8]

In August 2014, FXOpen NZ Limited stopped issuing derivatives to retail customers and the company was deregistered from the financial services provider register. In July 2015, New Zealand revoking its registration from the Financial Dispute Resolution Scheme. Since 2015, FXOpen LP Limited (New Zealand) a limited partnership, provides trading technology platform to wholesale customers. [9]

In 2021, FXOpen launched a trading platform TickTrader which allows to combine trading forex, stocks, indices, and commodities within one trading account. [10]

Operations

FXOpen offers an ECN-integrated MT4, MT5 and TickTrader trading platforms, compatible with algorithmic trading. It enables users to apply various trading robots, known as expert advisors. [8] FXOpen provides traders with proprietary designed One Click Trading Level2 Plugin software (OCTL). The tool was released in 2013 and is regarded as the Level2 application update optimizing the order execution process in the MT4 platform. [11]

Related Research Articles

<span class="mw-page-title-main">First Prudential Markets</span> Financial Markets

FP Markets (First Prudential Markets) is the trade name of FP Markets Group of Companies, a global online investment company.

Retail foreign exchange trading is a small segment of the larger foreign exchange market where individuals speculate on the exchange rate between different currencies. This segment has developed with the advent of dedicated electronic trading platforms and the internet, which allows individuals to access the global currency markets. As of 2016, it was reported that retail foreign exchange trading represented 5.5% of the whole foreign exchange market.

<span class="mw-page-title-main">Electronic trading platform</span> Software for trading financial products

In finance, an electronic trading platform also known as an online trading platform, is a computer software program that can be used to place orders for financial products over a network with a financial intermediary. Various financial products can be traded by the trading platform, over a communication network with a financial intermediary or directly between the participants or members of the trading platform. This includes products such as stocks, bonds, currencies, commodities, derivatives and others, with a financial intermediary such as brokers, market makers, Investment banks or stock exchanges. Such platforms allow electronic trading to be carried out by users from any location and are in contrast to traditional floor trading using open outcry and telephone-based trading. Sometimes the term trading platform is also used in reference to the trading software alone.

<span class="mw-page-title-main">Matchbook FX</span>

Matchbook FX was an internet-based electronic communication network for trading currency online in the Spot-FX or foreign exchange market. It operated between 1999 and 2002.

<span class="mw-page-title-main">MetaTrader 4</span> Electronic trading software

MetaTrader 4, also known as MT4, is an electronic trading platform widely used by online retail foreign exchange speculative traders. It was developed by MetaQuotes Software and released in 2005. The software is licensed to foreign exchange brokers who provide the software to their clients. The software consists of both a client and server component. The server component is run by the broker and the client software is provided to the broker's customers, who use it to see live streaming prices and charts, to place orders, and to manage their accounts.

<span class="mw-page-title-main">City Index Group</span> Financial services company

City Index is a global spread betting, FX and CFD Trading provider. City Index is part of the Nasdaq listed StoneX Group and is regulated by the Financial Conduct Authority in the UK, The Australian Services and Investment Commission in Australia and Monetary Authority of Singapore (MAS) in Singapore. The company has offices in the United Kingdom, Australia, and Singapore.

MT4 ECN Bridge is a technology that allows a user to access the interbank foreign exchange market through the MetaTrader 4 (MT4) electronic trading platform. MT4 was designed to allow trading between a broker and its clients, so it did not provide for passing orders through to wholesale forex market via electronic communication networks (ECNs). In response, a number of third-party software companies developed Straight-through processing bridging software to allow the MT4 server to pass orders placed by clients directly to an ECN and feed trade confirmations back automatically.

FXCM, also known as Forex Capital Markets, is a retail foreign exchange broker for trading on the foreign exchange market. FXCM allows people to speculate on the foreign exchange market and provides trading in contract for difference (CFDs) on major indices and commodities such as gold and crude oil. It is based in London.

GAIN Capital was a US-based provider of online trading services, headquartered in Warren, New Jersey until it was acquired by StoneX Group in 2020. The company provided market access and trade execution services in foreign exchange, contracts for difference (CFDs) and exchange-based products to retail and institutional investors. Trading was provided via one of two electronic trading platforms, its own proprietary FOREXTrader PRO later renamed as StoneX Pro and MetaTrader 4. GAIN Capital allowed retail and institutional clients to speculate on global foreign exchange markets in what is known as ‘margin forex trading’.

<span class="mw-page-title-main">CitiFX Pro</span> Online foreign exchange market trading platform

CitiFX Pro was Citigroup's online foreign exchange market trading platform for retail and small institutional traders including commodity trading advisors, broker-dealers, money managers, and hedge funds. CitiFX Pro provided the service from 2009 until it discontinued offering services to clients in June 2015 and sold all U.S. accounts to FXCM, and international accounts to Saxo Bank.

<span class="mw-page-title-main">Pepperstone</span> Australian online broker

Pepperstone is an Australian online broker that provides CFD trading. The company has offices in Melbourne, London, Düsseldorf, Dubai, Limassol, Nassau and Nairobi.

Hirose Financial UK is a UK-based retail foreign exchange broker that provides foreign exchange trading on margin through its own online trading platform called LION Trader and through MetaTrader 4. It is a subsidiary of Japanese foreign exchange company Hirose Financial that provides online trading services.

ActivTrades is a UK-based brokerage firm providing an electronic trading platform to trade Forex, Contracts for Difference (CFDs), and spread betting. It provides services to retail and institutional traders via the electronic trading platforms ActivTrader, MetaTrader 4, MetaTrader 5 and TradingView.

<span class="mw-page-title-main">IronFX</span>

IronFX Online Forex Broker is an online CFD broker operating globally as a trade name of IronFX Group of Companies, with headquarters in Limassol, Cyprus. The multi-asset broker provides trading instruments and services to retail and institutional clients in 180 countries.

<span class="mw-page-title-main">Integral Forex</span> Turkish-based online brokerage and branch of Integral Securities

Integral Forex, a branch of Integral Securities, is a Turkey-based financial trading services provider specialized in foreign exchange (forex) and contract for difference (CFD) brokerage.

<span class="mw-page-title-main">Leverate</span> Financial software

Leverate is a software as a service provider for foreign exchange brokers. It provides both electronic trading platforms and back-office software to manage a company's operations through its various subsidiaries. It has offices in Cyprus, Hong Kong, Israel, Ukraine, China, Poland, Bulgaria and Germany.

<span class="mw-page-title-main">Fondex Global</span> Cypriot online brokerage

Fondex Global is a Cyprus registered online brokerage that provides financial trading in contracts for difference (CFD) on the currency markets, shares, ETFs, major indices and commodities such as precious metals; gold and crude oil.

FIBO Group is an international financial holding company established in 1998 that provides online trading services (brokerage) mainly on foreign exchange market (Forex). It also offers an electronic trading platform for the purchase and sale of financial securities, CFDs, commodities and cryptocurrencies.

Dukascopy Bank is a Swiss online bank which provides online and mobile trading, banking and financial services. Headquartered in Geneva, Switzerland, it also has offices in Riga and Tokyo, with over 300 employees.

<span class="mw-page-title-main">FXORO</span>

MCA Intelifunds Ltd known by a brand name FXORO is a financial services company headquartered in Cyprus. It is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) as Cyprus Investment Firm (CIF). FXORO offers a range of products in the FX, CFD and the equity markets.

References

  1. "Working at FXOpen". Glassdoor.com. Retrieved 16 April 2015.
  2. "FXOpen Forex Broker". EarnForex.com. Retrieved 16 April 2015.
  3. "Australian financial services licensing". ASIC. Retrieved 16 April 2015.
  4. "579202 - FXOpen Ltd". FCA. Retrieved 16 April 2015.
  5. "ООО "ОТКРЫТЫЙ ФОРЭКС" - Москва". B2B-Project.ru (in Russian). Retrieved 16 April 2015.
  6. "International Association of Forex Traders". tradersunion.com. Retrieved 16 April 2015.
  7. 1 2 "Innovations for traders' sake". World Finance. 4 January 2011. Retrieved 16 April 2015.
  8. 1 2 Greenberg, Michael (12 October 2009). "FXOpen keeps up with the innovation - launches first ever ECN PAMM accounts based on Metatrader 4". FinanceMagnates. Retrieved 16 April 2015.
  9. "FXOPEN NP LIMITED (Registered)". Companies Office of New Zealand. Retrieved 10 June 2016.
  10. "FXOpen proudly presents TickTrader, an excellent solution for the EU trading community". 20 July 2021.
  11. Nikolova, Maria (17 September 2013). "FXOpen Releases Updated Plugin for One Click Trading, Market Depth". Forexbrokerz.com. Retrieved 16 April 2015.