what about FXOPEN???

[casper]

Hi all, im a noobie at forex and sorry about my english.
i bought FAP TURBO and FAP and i got 2 accounts is FXOPEN.
At the time i entered this "huge new world".. it seemed like the best choice to me... cant remember why... lol.
i got FAP running on it and gave me some nice profits...recently i got very mad because i made a bank transfer to them via ALERTPAY and my money still isnt in my account....
i got 2 questions.. what do you think about FXOPEN
and what other brokers accept credit cards or debit cards to deposit and withdraw funds????
Thank you for the answers.

[alan]

InterbankFX is another broker that supports credit cards, FXDD is another, FXCM is yet another (but their MT4 platform has a minimum of $2000)..and I'm sure there are plenty ones.

Personally I do not have any experience with FXOpen so I can't comment much on them.

[shulic]

FXOpen is egregiously notorious for manipulating the price feed during asian hours. I did a visual comparison of the highs, lows, and even the sideways moving pattern of their feed vs most other brokers. FXOpen's was clearly different. This may be good for someone who can take advantage of it, but I'm sure their trading desk was designed to exploit this.

[icg]

I've been tempted to try FXOpen for a while because of their low fixed spreads. However, I can't find anyone on here or the FAPTurbo board who can produce a live statement that's longer than 1 or 2 days. I have an approved account with them and may fund it later with a small amount of "house money" (profits from another account). But there are so many uncertainties about them that I'm afraid to open more than a token account.

One problem is that their biggest supporters are affiliates, and I'm not sure if they really use FXOpen or just promote them for affiliate income.

FXOpen is egregiously notorious for manipulating the price feed during asian hours. I did a visual comparison of the highs, lows, and even the sideways moving pattern of their feed vs most other brokers. FXOpen's was clearly different. This may be good for someone who can take advantage of it, but I'm sure their trading desk was designed to exploit this.

[shulic]

FXOpen deserves credit for keeping their spreads fixed while supporting instant execution. However, their price feed is very different from most other MT4 brokers because they manipulate it. They have a tendency to overshoot spikes, and undershoot ranges. This means fapturbo and other asian session scalpers will not take as many trades, have fewer opportunities to get out of a losing trade. Just my observations :-)

But they are one of the few brokers that allow micro accounts (0.01 lot sizes).

So unless you are able to tweak the SL setting on your scalpers to accommodate for their stop hunting tendencies, FXOpen may not be the best broker for you.

At the moment, I can only recommend FXCM because I know they will honor all withdrawal requests. That's really what it all comes down to.