FXOpen Trading Platform – Review, Top Features, Set-up Process, Benefits & more
Find out all details regarding FXOpen Trading Platform here. Established in 2005, FXOpen is a reputed forex trading company based in Australia.
However, today it is one of the renowned financial asset trading companies that deal with all the famous global markets.
One of the primary reasons why traders prefer the company is because of its dynamic trading platforms.
In this article, we will learn about the various trading platforms that FXOpen is providing.
It makes perfect sense to discuss some of the highlights of the platforms and the benefits of using them too.
Alongside that, we will explain the steps to download and install the trading terminal. So, let us begin.
About FXOpen Trading Platform
Just like most companies nowadays, FXOpen also offers trading platforms for all devices.
Primarily there are 3 trading platforms in the offering – TickTrader, MetaTrader 4 (MT4), and MetaTrader 5 (MT5).
Let us start with the Trading Terminals that you can access for any Windows or Mac computer.
TickTrader is a proprietary application of FXPro that you can only access if you own a special account called the ECN account.
It is available in Windows as a desktop application, whereas a mobile version of TickTrader available in Android and iOS. This application is also available as a web browser version.
As for the MT4 and MT5 applications, both of them are there in Windows and Mac as a Terminal.
Both the trading platforms are available in Android and iOS versions, and there are web browser versions available for MT4 and MT5.
Get Free Access to Platform – Open a Forex Account Now!
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FXOpen Trading Terminal – Top Features
When we are talking about trading platforms, it makes sense to highlight the main features and functions.
So, here are the most notable features of the FXOpen trading platforms:
- All the trading platforms are highly customizable. So, you can play around with tons of charts and indicators that suit your profile.
- You can take help from various traditional indicators while there are loads at your disposal if you wish to use them. In fact, there are over 100 charts, 21 keyframes, and 80+ technical indicators that you can use.
- There are lots of tools to make trading faster. Therefore, it is ideal if you are a day trader or a scalper. One such helpful feature is one/double click trading mode.
- An algorithmic trading feature is available so that you can make automated trading without being manually involved.
- VPS is available.
- Fundamental Analysis tools are available to use such as the economic calendar and financial news.
Charts for Analysis
Charts are pivotal for doing technical analysis.
The basic chart options vary from the 2 trading platforms that the company is offering – TickTrader and MetaTrader.
As TickTrader is for the ECN account, the options are a bit different than the usual MT4 or MT5 platforms.
In MetaTrader, you can play with more than 100 charts.
You can track price movements by using 21 different timeframes.
Overall, there are more than 80 technical indicators that you can use to get the desired reports.
As everyone has their way of trading, the way you place an order is crucial.
FXOpen, therefore, offers various options while you place an order.
You can place Market orders based on your wish to not take unnecessary risks.
Then there is the Pending order, where you can place it when you feel the time is right according to you.
There are the trailing orders as well.
It can help you maximize your profit and also can put a check on your losses.
Of course, there is an auto-trading option too, where you don’t need to bother when to place an order.
The reporting tools extract reports that you can use to trade efficiently. FXOpen acknowledges that and therefore they are offering some of the best tools.
They are as follows:
- The Trading Alert System tool, which is available in the TickTrader trading platform, is there to let you create customized trading alerts for your favorite assets.
- The Strategy Back Tester tool, which is there in TickTrader, can fetch precise reports on your trading strategies by using past pricing and liquidity. This tool lets you analyze and deploy the Algo-trading strategies and EAs.
- You can use the Economic Calendar tool to guess the price movement.
- The Trading Signals works perfectly to copy trades.
- There is the Expert Advisors (EAs) service to help you perform successful trades.
How to Set up FXOpen Web Trading Platform?
Please note that the downloading and installation process of all the platforms are more or less the same.
So, let us discuss that now:
- The first step is to follow the link of your preferred trading platform.
- Once you are on the page, you will see options to download the versions for various devices. You can also prefer using the web browser version. Click to download the setup file from that list.
- Please note that if you want to use any of the trading platforms, then you must own an account with FXOpen. Meanwhile, we will talk about the steps to open up an account with FXOpen a bit later.
- Once you download the setup file, install it on your respective devices. Then you need to log in, transfer funds, and begin trading.
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How to Use FXOpen OnlineTrading Platform?
As committed, we will now discuss the steps to open up an account with FXOpen. They are as follows:
- Here is the link to the official website of FXOpen. We request you to visit there first.
- Then, you need to find the option, “Open an Account Now.” We request you to click on that and it will take you to a new page.
- Once you are on the new page, you will see an option to select your country, which you must do to proceed.
- Then, you need to fill up a form containing all the basic information. Fill it out with correct information.
- Simultaneously, you need to complete eKYC. For that, you must upload all the digital copies of your identity proof, address proof, and income proof. The portal would tell you if your submitted documents are okay to proceed or not.
- Once the verification is over, you can download your preferred trading platform from the links provided before. Follow the process to download and install the application you like. Log in using the credential you used to create the account. Begin trading then.
Advantages of FXOpen MetaTrader 5
Here are some of the most significant benefits that you can enjoy while you trade with FXOpen:
- Of course, the user interface of all the trading platforms is the first thing that we should talk about first. As per most users and experts, you can easily navigate around the app, and one can quickly find what they are looking for in a matter of minutes.
- You can trade the most popular cryptocurrencies like Bitcoin, Litecoin, Ethereum, Ripple, Monero, EOS, NEO, and Bitcoin Cash.
- The trading accounts are suitable for experienced traders as well as newbies.
- The spreads are as low as 0.0 pip.
- You can do much more using the ECN account. Talk to the support to know more.
- You can trade from almost every device that you own, making it effortless to trade on the go.
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FXOpen Trading Platform – Conclusion
When it comes to forex trading, FXOpen is unquestionably one of the best in the market right now.
The spreads are decent, and the overall experience of the company is credible.
Now, as far as the trading platforms go, they are offering MetaTrader, which itself is one of the best applications in the world.
So, it makes sense to get associated with FXOpen.
FXOpen Trading Platform – FAQs
Here is the list of FAQs related to the FXOpen trading account:
What is the FXOpen Trading Platform called?
There are 2 variants of trading platforms that FXOpen is offering – TickTrader and MetaTrader. While TickTrader is exclusive if you own an ECN account, MetaTrader is for everyone.
There are two versions of MetaTrader – MT4, and MT5. All the platforms come in web browsers and mobile apps.
Does FXOpen Trading Platform provide Web Trading?
Yes, both MetaTrader and TickTrader provide web browser support.
You can use any popular browser to access your account as a trading platform.
Is the FXOpen MetaTrader 5 Free to use?
In a sense using TickTrader and MetaTrader doesn’t involve a fee.
However, there are costs for spreads and commissions that you need to pay to trade online.
We urge you to take a look at the fee structure before you commit.
How to download FXOpen Trading Terminal?
Please visit the official website of FXOpen. Then hover the mouse pointer over “Trading,” and you should see “Platforms.” You will get more options when you hover over that.
Click on the platform you are interested in using. You will get the option to download after you open an account with FXOpen.
What features does the FXOpen Online Trading Platform have?
There are several appealing features available on the trading platforms.
The likes of Social Trading / Copy Trading, Guaranteed Stop Loss, Guaranteed Fills / Liquidity, Trailing SP/TP, API Trading, VPS Services, and Trading from Charts are a few examples.
Can I trade in Shares via the FXOpen MT5?
No. As of now, trading company stocks are not available with FXOpen.
Is the FXOpen Trading Terminal good?
Of course, FXOpen trading platforms are admired by most traders as there are tons of technical analysis tools available to play with.
The general features are also robust and adequate.
Can FXOpen Web Trading Platform be used without EKYC?
If you are willing to do online trading, you must complete the KYC verification. FXOpen offers eKYC to complete the process in minutes.
Does FXOpen Trading Platform provide Tips?
Yes. The Expert Advisor (EA) support is competent and can deliver quality tips consistently.
How to Buy Currencies via FXOpen Trading Platform?
Open an account with FXOpen.
Log into any of the trading platforms in the offering. Then do your technical analysis using the plethora of tools available.
Once you are happy with the price, choose the quantity and place an order. Of course, you can place advance orders as well.
Selling is equally easy to do. Select the number of owned assets you wish to sell and place the order.
Get Free Access to Platform – Open a Forex Account Now!
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