FXOpen: is it a Scam Broker?

Are we sure that FXOpen is suitable for online trading? Is it a secure broker and above all, is there another broker that offers much more convenient conditions? Let’s analyze the situation together.

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FXOpen opinions: let’s check the opinions and reviews of those who used it

Hello reader of BestNewsOnline.net, if you don’t already know, I’m Alex Wright, trader for 10 years and owner of this site where I review the various trading platforms in order to make the life of those who approach the investments in the stock market much easier and safer especially in the choice of which broker to invest with.

Inside this guide about FXOpen I want you to understand everything there is to know and I want to reveal what all the sites do not say about this broker: sometimes the truth is uncomfortable but it is good to know it before investing our money on the stock exchange…

I’ll start immediately by telling you that FXOpen is certainly not a scam: being a broker regulated by CySec, the regulatory body that constantly monitors the work of brokers and grants them licenses to operate in the European Union is certainly a reliable broker but…

To do this review I obviously opened a trading account on FXOpen broker with real money and I can tell you that the platform is not bad: surely, it’s quite simple and suitable for those who are just approaching trading but… there’s a small but… If you want to find that out, before investing your money, I invite you to read this guide: at the end of this page, you will find out why opening a trading account with FXOpen is not the best choice you could make…

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There are hundreds of reviews, opinions and testimonials about the FXOpen broker on the internet. You will find forums that talk about it and you will also find many questions/answers and conversations on famous portals like Yahoo Answers. On FXOpen there have been reviews written since 2012 but you will find a lot of them also in the following years: from 2013 to 2016 in fact, FXOpen had the period of maximum fame. Certainly, the fact that this broker has been in the field for more than 7 years is not something negative.

Going deeper and analyzing these portals I was telling you about, I noticed that there are several opinions about FXOpen, some of them meaningless, others particularly negative, others positive.

Always remember that opinions found on the web can be manipulated: manipulating the internet is a very simple thing, so what I want to tell you is not that opinions and reviews should not be considered, but rather, it is much more important to rely on authoritative reviews and understand if the source that is expressing the point of view does so with full knowledge of the facts.

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How much is reliable FXOpen?

What I want to specify is that FXOpen is definitely a good broker. I used their platform for a long time before expressing an opinion, but what I think is that who is just starting trading should not use FXOpen because such broker is not the best choice for a beginner.

Often, actually almost always, who starts trading needs a guide, an assistant who explains him how not to fall into the main and particularly common mistakes, which are always common at the beginning. This is FXOpen’s main problem: this broker doesn’t explain how to avoid the most common mistakes that most traders fall into, simply because it doesn’t have account managers who can contact you by phone to explain in detail how to use the platform and how not to make stupid mistakes that could make you lose your entire capital right away.

Let’s find out together what these mistakes are!

My site is visited by thousands of people each month and thanks to this I often have the opportunity to talk to many users: novice investors, trading experts or users who need guidance to get started so they can learn how to maximize earnings and reduce the risk of loss. On the online trading scam page that you’ll find by clicking here, you can read thousands of comments from my users that I literally saved from ending up in the hands of the wrong brokers and scammers.

The advantage of being able to talk online with so many people has given me the opportunity to understand what are the 3 most common mistakes that novices in the trading industry make. Let’s see them together:

1. Starting to invest money without knowing how to really do it. Statistics of people who lose their capital in trading say that more than 80% of people make the mistake of starting to invest without having the knowledge to do so, resulting in a large part of this 80%, if not everyone, losing the entire invested capital.
2. Relying on reviews of sites that advertise brokers without saying what the negative aspects are but praising them exclusively. As you know, online fake news is a big hit and in addition, many portals sponsor brokers just for their own personal benefit. All this results in users running into trading scams or not giving all the useful information to the reader in order to make the right choice. A broker may be the most suitable for an experienced trader but the same broker may not be the most suitable for a user who is just approaching this world. That’s why before recommending a platform I observe and analyze it to the end, evaluating it from different points of view: among the many questions I ask myself to evaluate them I always wonder if broker X is more suitable for an expert or a beginner. Often, it’s a really tiring job but the esteem messages I receive via email and the comments on the site really make it up for a great gratification.
3. The broker does not present training material and free webinars To invest in the stock market you need to study study study! Certain skills to maximize profits and reduce the risk of capital loss are acquired by studying concepts that seem difficult but are not. Many brokers including FXOpen do not provide the user who subscribes to their platform with training material of excellent quality and easy to understand: this translates into a very difficult if not impossible approach to the platform and trading concepts.

What is the solution? What is the alternative to FXOpen?

What I always suggest to those who want to start in this sector is to start trading by registering with a broker that provides well explained and above all free training material, which explains clearly and without incomprehensible words what it means to trade, obtaining profits and reducing risks.

As in all activities, at the beginning it’s always vital to have a guide, a help, a manual that makes us understand how to get off on the right foot (CLICK HERE) reducing mistakes, because, always remember, that making mistakes in this field means losing your money.

I have always tried to offer my point of view to my users so that they could gather more awareness before signing up with a broker and before starting to invest money. The testimonials you can find on the online trading page opinions make me proud because I can say that I have helped many people not to run into the scams of unregulated brokers and I have always tried to make them understand that the choice of the most suitable broker for us is the condition which you cannot trade profitably without.

At this point you will have understood that I cannot recommend a broker like FXOpen to a beginner: FXOpen does not offer the training material and the step-by-step assistance that a broker should always offer to a beginner.

Luckily, there is an excellent broker suitable especially for beginners! Let’s find out what’s the alternative at this point.

What is the best alternative to FXOpen?

The platform that I would suggest to those who want to get started in the best way exists and is called CMTrading (click here to access the site)!

Let’s understand together why it represents the real alternative for those who are starting to dive into the world of trading!

CMTrading is first of all safe and reliable as FXOpen as both have the regulation to trade in Europe and Worldwide and obviously in South Africa (They have Financial Sector Conduct Authority license). If from this point of view, they are at the same level, however, it is also true that CMTrading is a broker that unlike FXOpen offers everything a beginner must have in order not to make mistakes dictated by lack of experience.

What makes CMTrading better than FXOpen? What does it offer you?

The main and vital thing that CMTrading offers is the possibility to get a free trading manual that you can download immediately. To get it you don’t have to deposit any money, just CLICK HERE, enter the data to subscribe and you can get the guide immediately.

I have personally read the CMTrading manual and I can assure you that compared to all those in the industry it is really well done. There is a lot of clear information, explained in a very understandable language, even for a beginner. This guide will explain everything about online trading and how to make the best use of the CMTrading platform.

I am sure that as soon as you sign up and download it, you will return to my site and leave a thank you comment! 🙂

Those who invest on the stock exchange know how important it is to be able to get trading signals. Well, unlike FXOpen, CMTrading offers completely free access to its trading signals service.

You can ask your account manager (a very important figure that FXOpen does not offer unlike CMTrading), the person who will contact you by phone right away to explain step by step how the platform works and how to start investing, an absolutely free trial of trading signals (CLICK HERE TO START).

CMTrading‘s trading signals provide information to the user about an asset market movements. In practice, these signals are provided by experienced CMTrading traders who indicate when it is more appropriate to invest in one asset than another. The carried-out study to issue trading signals is very complex (advanced technical analysis should be known) and CMTrading provides all this for free! Beginners normally rely on these signals to start making profits right away and you can take advantage of them by clicking here!

Given the differences between what CMTrading and FXOpen offers, let’s make a small summary.

CMTrading offers totally free and without any deposit required:

1. training material explained very clearly (and FXOpen does NOT);
2. dedicated account manager who will follow you step by step (and FXOpen does NOT);
3. trading signals issued by experienced traders (and FXOpen DOES NOT).

What CMTrading offers gives you the opportunity to start investing in online trading with a considerable advantage. You will get a guide, a free trading manual and normally a guide of the same level, where if purchased online it would cost at least 3000 ZAR. Rather than spending this money unnecessarily, after downloading the guide for free you could invest these 3000 ZAR if interested.

I hope that this guide of mine has been useful to clarify why CMTrading is better than FXOpen to start trading: I would like you to leave me a comment below if you need further clarification or help, I will be at your service!

Now you just have to start by taking the first step, click on this link www.CMTrading.com/trading-manual read it all and you will immediately understand how to trade profitably!