FXOpen Increases Margin Requirements Due to Effect of Coronavirus

Due to the current high volatility across all financial markets, FXOpen have taken the decision to increase margin requirements by up to 5 times their normal level in order to protect client funds. The change affects currency pairs, indices, metals and commodities and will take effect from March 17th until further notice. Please ensure you have sufficient margin to cover any open positions.

Cryptocurrencies are unaffected by this change.

Please consider these circumstances when planning your forthcoming trading activities.

For reference

As we know, today at an emergency meeting the US Fed decided to cut its key interest rate to 0-0.25% to support the economy. However, despite this, stock indices are currently falling following the news of the coronavirus pandemic.

With the fall of Asian and European indices, as well as US Index Futures, Bitcoin is also losing ground. However, in the near future, Bitcoin might attract the demand of investors as an alternative asset. Halving can give Bitcoin additional growth.

You should not expect a quick recovery in stock prices, while the spread of coronavirus continues, which impedes the normal functioning of the economy. Following an almost complete stoppage of the largest economies in the world, the number of infected continues is growing exponentially, which indicates the insufficiency of the measures taken. This factor may further destabilize markets. With this development, it is also likely that currencies in emerging markets will decline, as well as a rapid increase in volatility in the Forex market.

If stock indices hold on at current levels and coronavirus recedes, a rally in all markets can be expected. Creating a vaccine can “blow markets.” .

Based on the current situation, guided by the rules of risk management and in order to preserve client funds, FXOpen decided to increase margin requirements. We sincerely hope for your understanding.

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FXOpen Customer Service
E-mail: [email protected]
Live Chat (24/5)

FXOpen Launches New Accounts – Crypto 10

Dear Traders,

FXOpen is pleased to announce the launch of a brand new trading account – Crypto 10, where you can access high leverage, low cost cryptocurrency trading from as little as $10.

Open Crypto 10

Conditions:

  • Account currency: USD, EUR, GBP, RUB, JPY;
  • Minimum deposit: $10 (or equivalent in other currency);
  • Commission: 0.25% (half-turn);
  • Leverage: 1:10;
  • Margin call: 100%;
  • Stop Out: 50%.

Learn more about our new Crypto 10 accounts in FXOpen knowledge base.

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FXOpen Customer Service
E-mail: [email protected]
Live Chat (24/5)

On March 8th FXOpen Switches its Trading Servers to Summer Time (GMT+3)

On March 8th, 2020 FXOpen will switch its trading servers 1 hour ahead, from GMT +2
to GMT +3.

The change will affect all types of FXOpen trading accounts. In ECN, STP and Micro accounts summer time will take effect starting with the market opening on Monday, March 9th 2020. In Crypto accounts, where trading is available during the weekend, traders will experience the change immediately after it occurs, on Sunday, March 8th, 2020.

The changing of server time should not impact your open trades or the process of opening, placing, closing and modifying orders. However, keep this in mind when planning your trading and do not forget to adjust the time settings in your Indicators and Expert Advisors.

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FXOpen Customer Service
E-mail: [email protected]
Live Chat (24/5)

FXOpen Launches Instant Bank Transfers in Indonesia and Vietnam

Dear Clients,

FXOpen is pleased to announce that we’ve added a new method of depositing and withdrawing funds. Clients from Indonesia and Vietnam can now carry out transactions via Instant Bank Transfers. Instant Bank Transfers are transactions made from an online bank account in a local currency.

To celebrate the launch, clients can deposit for free, paying 0% commission for the first month of use.

More details:

  • Currencies: IDR, VND;
  • Payment Processing Time: instant for depositing/ within 1 day for withdrawing;
  • Minimum deposit: IDR 100,000; VND 100,000;
  • Maximum deposit: IDR 24,000,000; VND 300,000,000;
  • Deposit fee: 3.5% (min 2,500 IDR / VND);
  • Minimum withdrawal: IDR 100,000; VND 30,000
  • Maximum withdrawal: IDR 24,000,000; VND 300,000,000;
  • Withdrawal fee: 2% (min 5,000 IDR / 10,000 VND).

Learn how to deposit and withdraw via Instant Bank Transfers in our knowledge base.

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FXOpen Customer Service
E-mail: [email protected]
Live Chat (24/5)

FXOpen Launches “Cryptomania” — A New Contest for Demo Accounts

FXOpen is launching "CryptoMania" – a new contest for demo accounts. Anyone can join the competition to test their ability in crypto trading. "CryptoMania" is a unique opportunity not only to gain invaluable trading experience, but also win a prize fund of 3,000 USD. Free participation. Start: March 9, 2020. Registration is open until 22nd March.

Join the contest

Conditions:

  • Dates: March 9 – April 3, 2020;
  • Registration: is open now until 22nd March 2020;
  • Prize fund: 3,000 USD;
  • Free participation;
  • Number of winners: 10;
  • Account type: competition demo ECN;
  • Initial deposit: 5,000 USD;
  • Leverage: 1:10;
  • Commissions: 0.25 per side, 0.5 per turn;
  • EAs: allowed;
  • Locking: allowed;
  • Lot volume: from 0.10 to 1.00 (maximum 1 lot per order);
  • Trading instruments: 32 pairs with BTC, ETH, XRP, BCH, ETC, LTC, etc.;
  • Trading platform: MetaTrader 4 (download).

Additional restrictions:

  • Minimum trade quantity: 10;
  • Minimum trade volume (lots): 10;
  • Maximum number of trades opened at a time (including pending orders): 5;
  • To win the prize, you have to increase the initial deposit by at least 10%.

Get registered

Prize money:

The prize money will be added to your account in any cryptocurrency available with FXOpen at the exchange rate at the moment of prize crediting or in USD.

Please note that 50% of the prize money cannot be withdrawn. It is intended only for trading on Crypto accounts. To get the money, you will have to open a Crypto account  and send the account number to [email protected].
The profit from trading can be withdrawn at any time via any payment system available with FXOpen. You should also remember to comply with the competition rules, violation of which would lead to disqualification.

  • 1st place – 1050 USD (525+525);
  • 2d place – 750 USD (375+375);
  • 3d place – 300 USD (150+150);
  • 4th place – 240 USD (120+120);
  • 5th place – 180 USD (90+90);
  • 6th place – 150 USD (75+75);
  • 7th place – 120 USD (60+60);
  • 8th place – 90 USD (45+45);
  • 9th place – 60 USD (30+30);
  • 10th place – 60 USD (30+30).

How to join the contest?

Newbies should register an account with FXOpen or ForexCup, make sure that the "First Name" and "Last Name" fields are filled in the Settings → Profile section and join the contest with your account data.

Existing clients should make sure that the "First Name" and "Last Name" fields are filled in the Settings →  Profile  section and join the contest with your account data.

Useful Links:

Equity Index CFD trading changes

Dear Clients,

We would like to advise you that we are consolidating trading in all variations of each Equity Index CFD, into a single version in order to create a more efficient trading environment in these products.

On Saturday 4th April 2020 we are decommissioning the below index products:

  • Wall Street 30;
  • US SPX 500;
  • US Tech 100;
  • Germany 30.

On Monday 24th February 2020, the above products will be set to ‘close only’ trades. We would like clients to move all existing positions and trading to the below mini variants of these products, detailed below.

  • Wall Street 30 (Mini);
  • US SPX 500 (Mini);
  • US Tech 100 (Mini);
  • Germany 30 (Mini).

Please consider these changes when planning your trading activities and ensure you’ve moved your positions by 4th April.

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FXOpen Customer Service
E-mail: [email protected]
Live Chat (24/5)

Win an iPad in FXOpen’s Valentine’s Day Promotion

Dear Traders,

FXOpen is running a Valentine’s Day Promotion exclusively for our traders. Deposit 200 USD or more (or equivalent currency) in your FXOpen eWallet until February 21 to be entered into the prize draw for the iPad giveaway.

Additional benefits:

  • Multiply your deposit by trading on Forex;
  • 0% commissions for depositing funds.

The winner will be chosen randomly from active trading accounts at the end of the promotion.

Who can participate?

All clients with MT4 and MT5 accounts who deposit at least 200 USD during the promo period (excluding deposits made by Bank Wire Transfer).

Ending Date: February 21, 2020

Join now!

We wish you a happy Valentine’s Day!

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FXOpen Customer Service
E-mail: [email protected]
Live Chat (24/5)

FXOpen Adds Deposits and Withdrawals via Instant Bank Transfers in Malaysia and Thailand

Dear clients,

FXOpen is glad to announce that we’ve added a new method of depositing and withdrawing funds. Now the company’s clients from Malaysia and Thailand can carry out money transactions via Instant Bank Transfers. Instant Bank Transfers are transactions made from a bank account online in a local currency.

Terms of depositing and withdrawing via Instant Bank Transfers:

  • Currencies: MYR, THB
  • Payment Processing Time: instant for depositing/ during 1 day for withdrawing
  • Minimum deposit / withdrawal: 50 MYR / 500 THB
  • Maximum deposit / withdrawal: 50,000 (MYR/THB).

Learn how to deposit and withdraw via Instant Bank Transfers in our knowledge base.

In the first month, all FXOpen clients can add funds to their accounts with 0% commission to become familiarized with the product.

Follow the updates on Facebook, Twitter and Telegram.

FXOpen Customer Service
E-mail: [email protected]
Live Chat (24/5)

Win from $2,000 to $5,000 in “Money Managers”, a contest for real PAMM accounts

FXOpen and ForexCup are launching “Money Managers”, a competition on real PAMM accounts, and inviting traders to take part in the competition. Become a winner of huge money prizes for a total of $10,000. The contest starts on February 3, 2020. Registration is open until March 1.

Join now!

Conditions of the contest

  • Dates: February 3 – April 30, 2020;
  • Registration open now until March 1, 2020;
  • Prize fund: USD 10,000;
  • Rewards:
    • 1st place – USD 5,000;
    • 2nd place – USD 3,000;
    • 3rd place – USD 2,000.

    The prize will be added to an investment account according to 50/50 offer (50% of the profit goes to the manager, 50% – to the investor (company)).

  • Initial deposit: any amount, but not less than the minimum amount for opening a PAMM account (from USD 1,000 for PAMM ECN, from USD 200 for PAMM STP, from USD 1,000 for PAMM Crypto);
  • Minimum trading period: not less than 2 months;
  • Minimum number of trades per month: 10;
  • Trading volume: not less than 0.5 lot per stage;
  • Profit at the end of the contest: at least 20% of the deposit;
  • Drawdown dfrom the start of the competition to the moment of crediting of the prize money (the prize is transferred within 5 working days after the end of the competition in the case of an open offer) must not exceed 20%;
  • Short-term drawdown recorded at a rollover after crediting of the prize must not exceed 20%, as well as drawdown not recorded at a rollover must not exceed 25%.

Register now!

During the contest it is allowed to use only one PAMM account by one participant, add or withdraw money from accounts, receive investments to PAMM accounts, create offers, use all instruments of a PAMM system without restrictions, use any trading strategies, advisors (AEA, MEA, etc.) and any other standard MT4 add-ons and scripts.

It is prohibited to hide statistics of your PAMM account such as equity, drawdown, exposure level, completed trades. This data must be available for viewing at all times.

The company withdraws the prize funds in case of non-compliance with the above conditions.

The ratings will be published in the contest thread weekly. You can watch the activity of each account online by clicking the links. All statistics will be taken from PAMM Account Rating.

How to join the contest?

  • If you don’t already have a PAMM account you need to open one:
    • Register your account with FXOpen (if you already have a PAMM account, which had the drawdown less than 20%, go to the 2nd step);
    • Verify your main account;
    • Open an investment account and add funds to it with any payment system in your FXOpen account;
    • Open a PAMM ECN or PAMM STP account.
  • Leave a link to your PAMM account in this forum thread (you can also leave a link to your existing PAMM account with the drawdown less than 20%).

Useful links:

Trading Hour Schedule – US Martin Luther King Day on 20th January 2020

Dear Traders,

Please note that due to the celebration of US Martin Luther King Day on Monday, January 20th, 2020  in the US trading hours for some financial instruments will be changed as follows:

  • Forex pairs & Crypto: normal trading hours;
  • Metals: trading session ends at 20:00;
  • US Crude, US Natural Gas: trading session ends at 19:45;
  • UK Brent: normal trading hours;
  • Indices:
    • Japan 225: until 20:00;
    • US SPX 500: until 20:00;
    • US SPX 500 (Mini): until 20:00;
    • US Tech 100: until 20:00;
    • US Tech 100 (Mini): until 20:00;
    • Wall Street 30: until 20:00;
    • Wall Street 30 (Mini): until 20:00.

Other indices will be traded without changes.

Please consider this information when planning your trading for the upcoming week.

Follow the updates on Facebook, Twitter and Telegram.

FXOpen Customer Service
E-mail: [email protected]
Live Chat (24/5)