pls am registered to the mauritius office but how can i disassociate myself from them ,or am i already?
You don’t need to do anything. FXOpen has always been a global enterprise. Closing one office is never going to cause anyone a problem 
fxfrench, i have a question about commissions for ecn… i thought i understand it, but after response to pipperazzi i’ve lost it
is it $9 on every lot traded (finished trade - opened and closed) no matter how much i make from the trade, or is it 0.007% of my trade or something third (maybe an example?)
also is there a minimum commission per month/trade and when is the commission charged. beginning of the month or is it deducted from every trade
thanks very much
regards
Hi Markoc
The commission is 0.007% or $3.50 per side on USD pairs. The $9 example was for eur/usd in BOTH directions. The commission is not based on your profits so you still pay the same commission no matter how much you make.
The commission is fixed, however if your volume is high enough, you can negotiate a lower rate. The commission is charged per trade
of course fxopen is still legal man.
it it wasn’t, i wouldn’t be able to withdraw my money!
I am wondering about the MT4’s orders…Are they market orders or instant orders? I ask because market orders are faster.
Hi. Market Order execution on ECN accounts is instant and the speed of execution is really only limited to the speed of your internet and the normal internet lag from you to the server. [B]Very quick[/B] in other words
FXOpen has added a new payment system - China UnionPay
October 01, 2010. FXOpen, the industry-leading online foreign exchange broker, is pleased to announce that it has added a new payment system – China UnionPay to its deposit options. The introduction took effect on September 29, 2010.
China UnionPay was added into the “My FXOpen” client’s back-office to make money depositing simpler and more convenient for those clients of FXOpen who prefer to deal through the Chinese bankcard association. FXOpen is committed to constant updates and improvement of its work to offer the most convenient, fair and professional conditions on the market.
UnionPay is the only domestic credit card organization in the People’s Republic of China. Established in 2002, it has become wide-spread around the world. Almost all UnionPay Credit Cards are also affiliated with either American Express, MasterCard or Visa, and they can be used abroad as an American Express, Mastercard or Visa. Since 2006, China UnionPay cards can be used in over 20 countries outside China, including Australia, Canada, France, Germany, Japan, Malaysia, Singapore, South Korea, Switzerland, Thailand, New Zealand, the United Arab Emirates, and the United States.
“We are glad to broaden our possibilities for money depositing to make the procedure easier and more comfortable”, commented Ben Gates, the Chief Marketing Officer at FXOpen. “We are aware that it’s the most wide-spread payment system in China and are happy to offer it to our valued customers in the country and throughout the world.”
For more information, please, see our Forum.
About:
FXOpen is one of the world’s biggest retail FOREX companies with more than 217,000 active accounts (Micro, Standard and ECN) and over $65 billion in traded volume passing through its platforms on a monthly basis. It provides its clients with everything necessary to get the most and the best from FOREX trading: advanced trading technology, reliable order execution and dedicated support. With the introduction of the first ever MT4 ECN trading platform coupled with PAMM accounts the Company solidified its position as a MT4 technology innovator and the driver of the market development. Web-site: Forex-Micro, Mini, Standard & ECN forex broker-Currency trading online.
China UnionPay is a bankcard association established under the approval of the State Council and the People’s Bank of China. At present, the Shanghai-headquartered UnionPay has about 300 domestic and overseas associate members. English version of the official web-site: 中国银联 China UnionPay
For further information, please, contact:
FXOpen
Press and Media Relations
Tel: +1 (352) 397-2678
E-mail : <[email protected]>
Be very careful with FxOpen!!!
Many people get not back their money, because they add the funds via AlertPay!
Many people complain so in the FxOpen forum. Now it was with me so! I add my funds one year ago via AlertPay. FxOpen no longer offers AlertPay. They say, that AlertPay is a scam!! You are forced to make an account with Moneybookers, or you do not get your money back! I have made years ago bad experience with Moneybookers. Therefore I will not have an account there more! FxOpen thus forcing me to! If I do not do it, they keep my money! CAUTION with FxOpen!
This was the cheeky email from FxOpen that I received today:
"Default Re: Your withdrawal problem
Which forums? I don’t see any posts from you on any of the major ones.
Thanks for the free publicity btw:)"
[B][U]They worry about the customers even funny!!![/U][/B]
Hi,
I just opened up a demo account with ECN FXOpen… and I have noticed about like twice, my trades have taken profit WAY earlier than it should have, for example I wanted to take profit at 1.45000, but if I go up to 1.44800, it will take profit at 1.45000 automatically.
And it does NOT take profit from my ordered price up to the early one but rather it would actually take profit as if it went all the way to 1.45000 so I actually made a lot more pips than I should have… this is what I don’t understand, if this is the case with take profit, it could happen with stop loss! I could lose money even if the market never hit my stop loss order.
Why does this happen? And I already emailed FXOpen, I didn’t get a reply, it’s been over a week I believe. And can it be fixed if this ever happens on my live account?
Hello Adouha.
Can you give some ticket numbers for these trades? I can get our dealing dept to explain exactly why you experienced this kind of execution.
So you are saying that there was positive slippage? Yes, this is entirely possible if there was a gap price at news release caused by low liquidity which can also cause the spread to widen.
Please check your sent mail folder and copy the message headers to me ( <[email protected]> ) so I can see where and when you sent the email to us. FXOpen company policy is to respond to emails within 48 hours.
Hello Jafar,
Okay thank you, I just checked my inbox, I actually sent another email about a different issue (so I apologize for the mix up) but I never got a reply about that but it’s all good and understandable because I found out the answer to the issue which was already on the FXOpen website - it was about partial closing, but I understand why that happens so I have no complaint about that though I wished it doesn’t happen because say I leave the trade and go do my errands, it could partially close and the new trade could go against my strategy and I would end up losing than gaining but oh well it’s not something the broker can do about it as they made it clear this has to happen because they could not match my closing/stop loss/take profit price at that volume I purchased with.
The ticket numbers were 12654485 (3.00 volume) and 12655191 (2.00 volume), I decided to close the 2.00 volume, but when I closed that one, moments later the 3.00 volume “took profit” even though it was at the negative side, I end up getting the positive gain up to the take profit which was still way above it’s current position (negative that is).
Also I checked the chart to see if there was a sudden increase because of news as you said but it never showed any indication of that…the candlestick never managed to get up (at that time it took profit) to the take profit price that I set it to.
P.S. Do you still want that email I sent about partial closing, even though I got my answer through researching but in case you want to see why it was never replied to?
ECN execution is very different to Market Maker accounts. Sometimes it can take you by surprise if you aren’t used to it. I’m glad you learned something new.
Thanks for the tickets. Did you check both the BID and ASK charts for the pair? That may tell a story.
Yes please. It is unusual for you not to get a reply. Breakdowns in communication are one of my pet hates.
No I didn’t at that time, I don’t know how to go back in time to see the BID/ASK chart… but next time I’ll do that!
Thanks for your help!
Edit: But please do tell me why the above ticket orders got messed up so I can know for future references.
I am trying to find out. I need to consult a 3rd party because I don’t have access to the demo server database to see what was happening at that time in the market. The liquidity on ECN demo is simulated so I am ruling out a liquidity issue for now and just assuming it was spread related.
Ah okay, that’s fine… take your time, if you ever figure it out just let me know.
In a live account though if there’s a glitch and I get stopped out [U][B]wrongfully[/B][/U], I would be reimbursed with my original account balance, correct?
The dealer has replied. IT has been called in to check everything to see if there is a glitch in the demo system. That could very well be the case since less IT resources go into demo. Live always has the priority naturally.
Of course.
Hi Fxfrench, i am trying ur Demo ECN for sometime and want to know if the spreads in ur Demo ECN a/c and in Live ECN a/c are same or do they differ? i am asking this bcos normally with all brokers the spreads in demo a/c are less and more in live a/c. thanks
Hi psaini1973. The spread in demo is usually a little wider than in live due to the simulated liquidity.
If i understood correctly u mean to say that spreads are lower in Live ECN and higher in Demo ECN. thanks