FXOpen Fees and Commissions 2024: How Much Does Trading Cost?

Discover FXOpen's 2024 fees and commissions. Learn about trading costs, including ECN, STP, and crypto fees, as well as non-trading fees like deposits, withdrawals, and inactivity.

FXOpen Fees and Charges Overview

FXOpen provides traders with competitive fees across various financial products, making it a popular choice among forex and crypto traders. The broker operates a transparent fee structure, which includes both trading and non-trading fees. With different account types, FXOpen fees can vary depending on the spread and commission models. FXOpen's commission-based accounts generally have tighter spreads but higher commissions per trade. This review will explore the full scope of FXOpen fees and charges, giving traders a clear picture of what to expect when trading with this broker.

FXOpen Trading Fees

FXOpen trading fees are highly competitive, especially for ECN accounts where spreads start from 0 pips, but these accounts charge commission fees. FXOpen offers different trading accounts, each with its own fee structure. ECN accounts typically have the lowest spreads, but commission fees per trade apply. FXOpen fees per trade on STP accounts include wider spreads but no commission. Crypto traders will also face FXOpen crypto fees, which are included in the spread. Traders looking for low-cost forex trading can find FXOpen fees attractive, particularly on ECN and STP accounts.

FXOpen Non Trading Fees

In addition to trading fees, FXOpen charges several non-trading fees. These include fees for withdrawals, deposits, and inactivity. FXOpen withdrawal fees depend on the payment method used, while deposits are mostly free but can incur charges depending on the method. Additionally, FXOpen inactivity fees apply if an account remains dormant for an extended period. It is important for traders to be aware of these non-trading costs, as they can add up over time, especially for less active traders or those who frequently move funds in and out of their accounts.

FXOpen Withdrawal Fees

FXOpen offers various withdrawal options, each with its own fee structure. Below is a table summarizing the withdrawal fees for different payment methods:

FXOpen Deposit Fees

FXOpen allows traders to deposit funds using several methods. While most deposits are free, some incur fees depending on the provider. The table below outlines the FXOpen deposit fees for each method:

FXOpen Swap and Overnight Fees

FXOpen charges swap fees, also known as overnight fees, for positions held open overnight. These fees depend on the financial instrument being traded and the position's size. FXOpen swap fees are generally competitive, though they may vary based on the currency pair and market conditions. Islamic accounts are available for traders who wish to avoid swap fees for religious reasons. Overall, FXOpen swap and overnight fees are in line with industry standards, but traders are advised to monitor these fees closely, especially when holding positions for multiple days.

FAQs

What are FXOpen's commission fees?

FXOpen's commission fees vary based on the account type. ECN accounts typically charge a commission starting at $1.50 per lot, but spreads are as low as 0 pips. STP accounts do not charge commissions but offer wider spreads.

Does FXOpen charge inactivity fees?

Yes, FXOpen charges an inactivity fee if no trades are executed within 90 days. The FXOpen inactivity fee is $10 per month, which is deducted from the account balance.

Are there any FXOpen deposit and withdrawal fees?

FXOpen deposit and withdrawal fees depend on the payment method. Bank transfers are free for deposits but can incur withdrawal fees of up to $30. E-wallets such as Skrill and Neteller also have associated fees.

How much does FXOpen charge for crypto trading?

FXOpen crypto fees are integrated into the spread. These fees are competitive compared to other brokers and vary depending on the specific cryptocurrency pair being traded.