Thread: FXOpen News

FXOpen MT4 Server Time Changing to GMT+3

Dear Traders,
Please note that FXOpen MetaTrader 4 (MT4) server time is changing to GMT+3 (daylight saving time).
When the market opens on Monday, March 10, 2014, the GMT offset in the company’s trading platform MT4 will be set to GMT+3 (DST). The change will apply to all types of FXOpen accounts.

Although the change should not affect open trades or the process of opening, placing, closing or modifying orders, we strongly recommend that customers adjust the GMT offset in their Indicators and Expert Advisors to GMT+3 to match FXOpen server time.

Best regards,
FXOpen NZ Limited
Customer Service
E-mail: [email protected]
FXOpen Live Chat (24/5)

FXOpen to Introduce Changes to PAMM Service

We would like to inform our clients about the upcoming changes to the company’s PAMM service.
The company will launch the new Percentage Allocation Master Module (PAMM) technology on April 1st, 2014, and it will fully supersede the current service, Percentage Allocation Management Module. FXOpen’s new PAMM is a technical opportunity for an FXOpen client (“Slave”) to follow trading strategies of another FXOpen client (“Master”). The Master’s strategy will be replicated on the Slave’s Account by means of our PAMM technology.

FXOpen PAMM technology involves virtual merging of Master’s and Slave’s funds. The funds, dedicated to PAMM by both Master and Slave, become “invisible” in their Customer Accounts. It means that even though the funds are fiscally segregated, they still remain on the same accounts.

We kindly ask all current PAMM participants to read the new Regulations carefully in order to make an independent judgment as to whether this service is appropriate for them in light of their financial situation, investment experience, risk tolerance and other factors. If not, please inform FXOpen as soon as possible, otherwise FXOpen will consider that you have accepted the new Regulations, which will come into effect starting from April 1st, 2014.

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Best regards,
FXOpen NZ Limited
Customer Service
E-mail: [email protected]
FXOpen Live Chat (24/5)

Interview with the Chinese Forex Championship Winner

The start of the year 2014 was marked with the Chinese Forex Championship held by FXOpen at ForexCup.com became one of the most significant events of the beginning of 2014. The event became notable for its favorable trading terms, allowing traders from all over the world to compete for various bonuses provided by FXOpen.

According to the contest rules, only traders from China qualified for the main prizes and Chuan Feng Lin became the Championship winner and the holder of the Best Chinese Trader title. Over the 8 competition weeks he made a 1060% profit, and received a PAMM account with a US$3,000 deposit in reward.

ForexCup team had a chance to talk with the winner about his participation in the Championship and his trading experience in general.

FXOpen: “Could you please tell us a few words about yourself?”
Winner: “My name is Chuan Feng Lin, I am 40 years old. I live in China, in Ping Tan. I am married and I work in the seafood industry.”

FXOpen: “Could you please describe your “way in Forex” i.e. how you began, developed your trading skills, made your first profitable trade, etc.?”
Winner: “I started trading in 2012, not so long ago. So, I can’t consider myself a very experienced trader. It all started with a pure interest in the growing Forex industry – as for many other people at that time, I think. Unfortunately, I do not remember the very first trade because I made hundreds of them.”

FXOpen: “How did you learn about the ForexCup competitions? Have you ever participated in contests organised by other brokers?”
Winner: “I came across ForexCup ads on the Internet. By that time I had already gained some contest experience by participating in other projects.”

FXOpen: “What distinguishes ForexCup from other competitions in your opinion?”
Winner: “From my point of view ForexCup holds excellent trading contests. One of the main advantages is sizeable prize and bonus funds that are much bigger than those offered by other companies.”

FXOpen: “This Championship was one of the biggest events in ForexCup history. What made you join this particular competition?”
Winner: “I didn’t hesitate at all and easily joined the Championship. I was not worried about the scale of the contest and all I wanted is to try my hand in this tournament.”

FXOpen: “How did you make your trading decisions? Were they informed, risk averse or did your actively pursue risk?”
Winner: “Most of my trading decisions were carefully considered and weighted. But I also took risk.”

FXOpen: “What are your favorite trading instruments?"
Winner: “I prefer non-USD pairs, because they volatile and show interesting dynamics.”

FXOpen: “Did you have any particular strategy at the beginning of the contest? Did it take you long to work out a profitable strategy? If so, how would you summarise it?”
Winner: “I didn’t have any prepared strategy. All my steps were based on the current market situation.”

FXOpen: “You have been awarded with a PAMM ECN account with a healthy deposit – Are you satisfied with this type of reward, or would you rather prefer prize money?”
Winner: “Honestly speaking, I would take “live” money like, I am sure, other people would.”

FXOpen: “Do you have any plans on how you will manage your PAMM ECN account?”
Winner: “I want to develop the account so that it could help me make profit. I don’t want to miss an opportunity to become a good PAMM Manager.”

FXOpen: “Will you participate in forex-contests again, following this exceptional performance?”
Winner: “Yes, sure! Right now I believe in myself I have all chances to win again.”

FXOpen: “What advice can you give to beginners and those who are planning to join ForexCup contests?”
Winner: “Keep on training, improve your skills and believe in yourselves – you will definitely win! Good luck!

The Best Chinese Trader has once again proved the fact that self-confidence and determination are key to winning. FXOpen would like to congratulate all the participants and wish them every success in their future trading!

Best regards,
FXOpen NZ Limited
Customer Service
E-mail: [email protected]
FXOpen Live Chat (24/5)

Interview with the Winner of the Forex Article Contest – February 2014

FXOpen has recently announced the results of the Forex Article Contest-3 held in February 2014. The contest organizers were happy to discover new talented traders with both a profound knowledge of the FX market mechanisms and the ability to describe them in an engaging way.

In total, 7 authors of the most interesting articles were awarded money prizes. An article by Marcin Nowogórski won the 1st prize. FXOpen team has contacted Marcin to ask him a few questions regarding his impressions of the contest and his personal experience in the Forex market in general.

FXOpen: “Could you tell us a few words about yourself?”
Winner: “I am a 28 year old guy from Poland who has family and struggle to make for a living. I work as a Business Analyst for the software company with connections to financial industry and I also do some part time job for the biggest Polish Forex Portal. I'm very focused on self-improvement and my goal is to hook up in the FX industry for the full time.”

FXOpen: “Participation in the Forex Article Contest does not require trading actively in the market. You just have to be well-informed of its mechanisms and be skilled enough to tell about them correctly. Are you an active trader or more of a casual observer?”
Winner: “I started my adventure with Forex almost 3 years ago and then I wanted so much to make day-trading my profession. After 2 years of trying, learning and failing I gave up and changed my approach. I found a job as close as possible to the financial industry to be near the market. Despite having a job, yes, I am still an active trader.”

FXOpen: “Can you explain the choice of your article topic?”
Winner: “I read about Forex a lot. I read forums, articles, blogs and I am tired of the same articles and same talks in style of "whatever number of reasons why you fail" or "golden, super, grail, holy system", etc. The Internet is flooded with this, and I wanted to come up with something fresh, what can't be found easily in the Internet. Over the years of Forex trading I've found lots of decent information, so I focused on picking something up from this pool. Soon I realized that I'd like to write about a couple of useful, related things. And so it is: "Few facts that can do something for you" ;-)”

FXOpen: “Could you please describe your “way in Forex”, i.e. how you started trading, developed your trading strategy, made your first profitable trade?”
Winner: “I've started probably as many traders do. My colleague introduced me to Forex saying, that I could probably make some money there. After a short period of trading in demo accounts I decided to go on with real money. Generally, my way was long and painful. I've lost many times – luckily I deposited small accounts. Each time it forced me to improve and seek for knowledge. Thanks to my appetite for wisdom I've met many valuable traders to share knowledge, experience and mutual support. Personal relations from that time are priceless to me, and crucial for my further development.
Actually, I hardly remember my first trades and profits. The thing I recall pretty often is something that happened after the first two months of my FX adventure - it was summer 2011. I was trading in a real account having +100% score then, and I left opened positions for the weekend. It happened to be THE weekend when Fitch downgraded the US credit rating from AAA. I was shocked when I saw my account totally blown up on Monday morning. The funniest thing is that a couple of days later the market reached my target point without me. This particular event taught me several important lessons.”

FXOpen: “Have you made any significant progress trading with a ‘live’ account?”
Winner: “If not losing is a progress, then yes. I have very little profit during the whole 2013 but when I took fees under considerations then I realized that I had to make healthy profits to cover them up ;-). Actually I have made great progress dealing with my emotions and controlling the risk I take. I’ve had very tough time to realize that I won't make lots of money in a reasonable time trading with small initial deposit. Who wouldn't want that? ;-)”

FXOpen: “What is Forex trading for you - your main source of income, or more of a hobby that provides you with some extra money?
Winner: “I wish it would be my main source of income, but it's not. It's rather a passion that sometimes gives extra money… and sometimes takes. ;-)”

FXOpen: “How did you learn about the Forex Article Contest? What made you take part in it?”
Winner: “My colleague has an account at your firm and he told me about FXOpen. I was surprised, that I haven't ever heard about you so I made some research and among other things I've found information about the contest. I took part because I like such contests where several prizes are offered instead of one big prize. It increases your chances to get 'any' reward and makes it worth your effort. Also it's more fun when many people can win and not only "the king."

FXOpen: “Have you ever taken part in other Forex contests? If so, please, tell us a few words about them.”
Winner: “Actually I had this time when I tried my luck in a few competitions. But what I don't like in trading contests is that you have to bare an extreme risk otherwise you don't stand a chance. For me such "shot and pray" games weren’t really interesting. As I said, I'm focused on minimizing risk and having stable returns based on wise decisions made repeatedly. One of my last trading contests was Crosstrade Championship in Poland in 2013 where I won a minor prize - there were something about 20 prizes for different categories.”

FXOpen: “What distinguishes our Forex Article Contest from other competitions in your opinion? What would you change or improve?”
Winner: “I think the idea of the Forex Article Contest is very good. It is very social - make people share their knowledge. I don't see any exact con. I think I would recommend changing images on your Facebook publications. They are all pretty same. It would be nice to make them individual, at least for the users’ content.”

FXOpen: “Did you watch your competitors and voting results unfolding?”
Winner: “Yes, I did look from time to time. There were a few good articles with good potential to be popular.”

FXOpen: “Was your victory a dream come true? Or were you sure of your success from the beginning?”
Winner: “Close to the end I was hoping for 2nd or 3rd place. But the 1st place was a huge surprise for me.”

FXOpen: “What did you feel when the contest was over and you won in the “Forex Theory” category? What became the biggest reward for you - the prestigious winner’s title, or the US$400 prize?”
Winner: “I was very happy and I took my wife to a festive dinner to celebrate. I feel joy that my work and my knowledge have both been appreciated. Money isn’t the most important but I’ll find a good way to use it.”

FXOpen: “You also won in the “People’s Choice Award” category. Did you expect to win twice at a single competition?”
Winner: “Hah, so much happiness! No, I didn't expect this one. There were two articles that get so many Facebook shares in the last few days…”

FXOpen: “There will be another round of the Forex Article Contest in the near future. Are you going to participate again?”
Winner: “Definitely. I just need to think of something interesting for a new article.”

FXOpen: “Not everyone feels enthusiastic about such Forex competitions for various reasons, and yet you were not discouraged and decided to try. As we see, your efforts and optimism were rewarded. Can you share any secrets of writing the contest article? What was the most important thing during the preparation?”
Winner: “You know what? I have written this article during my 12 hour transfer at Moscow Sheremetyevo Airport while waiting for my second flight. Of course I gave it proper check later but the main idea and everything were born there. The 12 hours I was about to lose on just sitting there, turned to be the greatest investment. It's like you need to take that time you waste and look for opportunities that you can catch.”

FXOpen: “What would be your advice to all those who did not believe in their success and stayed aside?”
Winner: “Don't you ever stay aside. Find out what you want and how to do it, and then give it a shot. Of course, you won't succeed every time, but sitting and waiting won't lead you anywhere. I often think that, if I'd known from the beginning what I’d have to go through these 3 years of my Forex trading, most likely I wouldn't have even decided to start it. That would have been probably the biggest mistake of my entire life.”

FXOpen would like to thank all the participants of the February Forex Article Contest and invites everyone to join the next rounds of the competition.

Best regards,
FXOpen NZ Limited
Customer Service
E-mail: [email protected]
FXOpen Live Chat (24/5)

FXOpen Introduces 24/7 Swap-free Crypto-Currency Trading

FXOpen is delighted to announce the introduction of round-the-clock cryptocurrency trading 7 days a week. The company has also enabled its clients to trade bitcoins and other cryptocurrencies without any swap charges.

With the growing popularity of cryptocurrencies in the Forex market, FXOpen is constantly improving its trading conditions to create the best possible environment for a more efficient trading. From now on, the company's clients are also able to retain their open positions in Crypto accounts overnight without additional charges.

Demo Crypto Accounts are available in the MT4 ECN Demo terminal. You can test BTC/USD trading after downloading the platform and choosing the Open an Account-->Account type -->Bitcoin parameters from the menu.

For further information about Crypto accounts, please go to FXOpen Knowledge Base.

Best regards,
FXOpen NZ Limited
Customer Service
E-mail: [email protected]
FXOpen Live Chat (24/5)

FXOpen Adds BTC/CNH and LTC/CNH Cryptocurrency Pairs

FXOpen expands the list of available trading instruments to include BTC/CNH and LTC/CNH, which are likely to be of particular interest to customers from China.

Since the launch of the new Crypto accounts in early February, FXOpen has significantly improved its trading environment by adjusting it to the needs of the modern Forex community with its ever increasing focus on digital currencies such as Bitcoins, Litecoins and others.

The company has recently introduced 24/7 cryptocurrency trading without any swap charges, and has offered commission-free deposits in Bitcoin, Litecoin, and Namecoin since February.

Clients and partners are also encouraged to test Crypto accounts in a demo environment, accessible via the MT4 ECN Demo terminal.

For further details about Crypto accounts, please go to FXOpen Knowledge Base.
Follow the discussion in the company's social networks FXOpen Facebook and Google+.

Best regards,
FXOpen NZ Limited
Customer Service
E-mail: [email protected]
FXOpen Live Chat (24/5)

FXOpen Offers Partnership Program for Crypto Accounts

FXOpen informs the company’s clients and partners about the introduction of a new referral program for Crypto accounts. With the new program, they can get a reliable source of income by bringing in new clients to cryptocurrency trading and receiving a commission from each trade they close.

Key benefits of the referral program for Crypto accounts
By introducing new clients (referrals) to FXOpen Crypto accounts, you, as an agent, get the following advantages:
•Minimum of 15 % of FXOpen’s commission for each referral’s closed trade;
•Loyalty program that allows gaining up to 50 % of FXOpen’s commission;
•Commission deposited at the end of the trading period for all trades closed by the referrals.

You are also able to expand your revenues further by using the Multilevel system of the partnership program. The system provides three levels of remuneration depending on the level of your referral, which enables you to earn 100%, 25% or 10% of partnership commission.

For more details on the partnership program for Crypto accounts, please go to FXOpen Knowledge Base.

Follow the discussion in the company's social networks FXOpen Facebook and Google+.

Best regards,
FXOpen NZ Limited
Customer Service
E-mail: [email protected]
FXOpen Live Chat (24/5)

Changes to Gold and Silver Trading on Easter Holidays

Dear Clients,

Please note that due to Easter Holidays, markets and exchanges around the world may not be available on Friday, April 18th, 2014. You can experience low liquidity hours for the metals. We kindly ask you to take this fact into consideration.

FXOpen team would like to thank you for your support and to wish you a happy Easter!


Best regards,
FXOpen NZ Limited
Customer Service
E-mail: [email protected]
FXOpen Live Chat (24/5)

FXOpen Launches Forex Trading Seminars in Its New Office in Cairo

FXOpen is pleased to launch of the Forex trading seminars in its new office in Cairo, Egypt. The first seminar will be held on April 29th, 2014 at 6 pm (local time). It will be attended by eminent speakers and Forex trading specialists with over 11 years of experience in the foreign exchange market.

By holding the seminars, FXOpen continues the old tradition initiated back in 2003 when the company was present in the market as an educational center of technical analysis. Today, FXOpen is a leading broker and B2B liquidity provider, offering its clients and partners efficient and highly competitive products and services worldwide.

The first seminar is rather comprehensive and covers the following topics:
•Brief about Forex creation
•Advantages of Forex trading
•Live Market activities and analyses
•Difference between Forex and Stock Market
•How Forex works
•Forex trading methodology
•How to trade in Forex and minimize your risks
•Live FOMC meeting

FXOpen would like to take this opportunity to invite you to the seminar which also coincides with the office’s opening ceremony. You are most welcome to visit the new office located in the 19th floor of the World Trade Center.

Best regards,
FXOpen NZ Limited
Customer Service
E-mail: [email protected]
FXOpen Live Chat (24/5)

FXOpen Resumes Forex Article Contest with Focus on Cryptocurrency

FXOpen is happy to announce the resumption of the Forex Article Contest on April 24th, 2014. The organizers have amended the concept as well as the competition terms. The contest is now expected to be particularly appealing to cryptocurrency traders.

Considering the latest market developments and the ever-growing interest of the Forex community in cryptocurrency trading, the contest organizers want to create a special environment for exchanging knowledge and experience in transacting in Bitcoins, Litecoins and other virtual currencies. This sharing of relevant trading articles will help make the competition become a knowledge base on cryptocurrency specifics, benefiting all traders and enriching their trading experience.

You are encouraged to join the Forex Article Contest by sending your entries on digital currency trading between April 24th and June 8th. In the article, you can share your personal achievements in this field and cover various aspects of e-trading under different scenarios. Our expert judges will select the top 7 articles whose authors are going to share the prize fund totaling US$1,300.

Like before, there is also the People's Choice Award of US$100 to be given to the author of the most popular article in the social networks. The social network users will help determine the winner in this category.

Please note that the contest organizers reserve the right to amend the contest rules and reject certain entries if they violate the contest regulations or if cheating is detected.

Best regards,
FXOpen NZ Limited
Customer Service
E-mail: [email protected]
FXOpen Live Chat (24/5)