Thread: FXOpen News

The Interview with the Winner of OCTL2 Plugin User Report Contest

FXOpen have collated the results of the OCTL2 plugin user report contest that was held by the company for the first time. The competition organizers were seeking feedback for the company’s new product in practice. Their opinions regarding its functionality were highly appreciated. All winners were offered good financial reward.

The prize money went to the authors of the three most insightful reports. It was decided that the user with the handle Serega submitted the most consistent report on the plugin operation. He was awarded with US$500 and he willingly shared his impressions of the newly developed product.

FXOpen: “Please tell us a few words about yourself. How long have you been in Forex? Have you had much success?”
Serega: “I am 35 and I am single. I live in Kiev. I first heard about Forex some 8-9 years ago. I came across an article about a new way of making money and right at that minute I was carried away by Forex trading. At first it was more of a hobby but then it gradually grew into an alternative source of income but it did take some time. As a beginner, I spent much time on choosing the most suitable trading system, method, broker to eventually get sizable return. Now I consider long-term keeping of the trading capital as the main criterion for success in Forex i.e., I consider a year to be successful if I make a zero profit and may go on with trading. Talking about my targets, I plan to make 20-50% annually and I must admit I reach my goals.”

FXOpen: “Tell us about your trading strategy and your principles of trading. What methods do you prefer? How often do you use EAs?”
Serega: “Currently I combine a few strategies in my trading. I use long and short-term methods, follow the trend and trade over the range. My choice is based on the conformity with my vision of the market and the principles of its operation.
To see the trend I analyse the latest news and market sentiment. To catch the trend I use various methods of the technical analysis to choose the best time for opening a position, setting Stop Loss and Take Profit. I often work with the candle patterns coupled with stochastic and Fibonacci retracement. At this stage I apply the EA that I created myself. When algotrading without setting the trend filter, I generally open low-volume positions. To my mind, mechanical methods alone are unable to consider all the factors affecting the price movement.”

FXOpen: “We understand that you have experience in programming. Does this help you when trading? How often do you create and develop scripts, EAs and other programs to facilitate trading?”
Serega: “I’ve been studying the MT4-tailored programming with the purpose to get the effect of my trading ideas checking and testing them. First of all I use EA to see the potential of some history-based trading strategies. Even if a trading system proves to be profitable when being tested, I don’t hurry to create special EAs but think how I can use it with the best yield possible. For example, I can include the system or its part into my toolkit of manual trading methods. In any case I carry out the overall market analysis. Scripts and EAs are always at hand to open a position, determine the SL and TP levels.”

FXOpen: “How have your personally developed EAs helped boost your trading results?”
Serega: “The main thing is that I can save my time with EAs otherwise, I would have to spend most of my day on the market analysis or would have to put up with the worse results than expected.”

FXOpen: “How did you learn about the contest held by FXOpen? Did you decide to participate straight away? Did you expect to win?”
Serega: “The thing is that I sometimes scalp on tiny lots, which is more for fun rather than to make money. Recently there have been a lot of new applications for one-click trading in MT4 which is very convenient for scalping. I saw your announcement of the contest in the Internet, tried to work with the plugin and wrote the report on it. I aimed to help the tool developers when sharing my recommendations for its improvement. I hope my advice will be useful and the application will become even more efficient.”

FXOpen: “What do you think of the OneClickTradingLevel2 plugin? What in your opinion, are the pros and cons of the instrument? What changes would you suggest?”
Serega: “The plugin steady operation, high accuracy and execution speed are the main advantages of OneClickTradingLevel2 plugin. As for recommendations, I’d like to have a software manual at hand as well as an opportunity to monitor and close the positions opened by means of the plugin only. Switching symbols, used by the plugin to trade, would also be very convenient.”

FXOpen: “FXOpen is planning to hold another competition imminently – Forex Article Contest. Would you like to take part in it? Do you have Forex-related stories you would like to share with other traders?”
Serega: “Sure, I plan to participate in this contest. Who knows, maybe, I’ve caught the trend for winning in your competitions ”

FXOpen: “Could you offer advice to Forex novices? What should they start with or avoid?”
Serega: “All beginners had better start trading in real accounts, because demo trading will never give them the main thing i.e., the feeling of losing money. Low volumes will suit them best in the very beginning since mistakes are inevitable so, it’s better to pay less for them. Anyway, don’t be afraid of making mistakes but learn from them! Your losses may turn out to be the best teachers but you still have to analyse and assimilate them in your experience. Even if you are in the red, you have learnt something – isn’t it only bad experience? But, most importantly, stay away from the Martingale strategy and never join the unprofitable position.”

FXOpen Joins The Financial Commission

FXOpen, one of the world’s leading Forex brokers is happy to announce its membership in The Financial Commission.

The Financial Commission is a neutral 3rd party committee to fairly review and resolve complaints. We see it as one more way to show our clients that FXOpen’s activities conform to the best practices and high commercial standards in the Financial Services Industry. FXOpen’s membership in the Financial Commission gives each customer the opportunity to achieve a more cost-effective, simpler and swifter resolution of any issues that they might encounter while trading Forex through FXOpen.

The Financial Commission is an international independent non-government dispute resolution organization specializing in the Forex market based in Hong Kong, China. Its main body – the Financial Committee – is comprised of highly-skilled professionals with many years of experience at top managerial positions in the Forex market . Their vast expertise ensures in-depth understanding and investigation of each complaint. However, the members of the Financial Committee are not affiliated to any Forex brokerage firm, which guarantees an unbiased approach to handling complaints.

By joining the Financial Commission we hope to boost our customers’ confidence in FXOpen as a broker.

Customer satisfaction is one of our key priorities. And we strive to find an amicable and fair solution to any issue that may arise between the Client and the Broker. FXOpen is eager to achieve this both through FXOpen’s internal dispute resolution procedures, and through review of such issues by reputable 3rd party regulatory bodies, such as the Financial Commission.

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

FXOpen Accepts Payments via Neteller

FXOpen, one of the leading Forex brokerage companies, is excited to announce that we now accept payments via Neteller.

For over a decade, NETELLER has provided businesses and individuals with a fast, simple and secure way to move money online. Neteller is a highly-reputable payment option trusted by millions of merchants and consumers in more than 200 countries and from a broad spectrum of industries and businesses. Neteller eWallet coupled with Net+ Pre-paid Master cards makes Neteller one of the most popular, easy-to-use and secure payment option online.

FXOpen customers can now enjoy all benefits of Neteller when funding their FXOpen account or making a withdrawal:
•Instant deposits;
•Deposit commission is only 2.5%;
•Payments in USD, EUR, AUD, GBP, JPY, RUB and SGD;
•Withdrawals without commission.

Get all the details in official press release

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

Notice about Violation of FXOpen Intellectual Property Rights

Dear Customers,
FXOpen would like to bring to your attention that certain websites, in particular http://www.dkumarsghl.com/ and http://www.forex-open.com/en/html/about/jieshao/, have misused FXOpen brand that it considered an egregious violation of the Company’s exclusive copyrights.

Please be informed that the word “FXOpen” is registered as a trademark by the World Intellectual Property Organization in accordance with the Madrid Agreement and Protocol concerning the International Registration of Marks. Therefore, this is the intellectual property which is protected by law.
The references to FXOpen group of companies made on the abovementioned sites are illegal and fraudulent. FXOpen would like to stress that neither D-kumars Golden Heritage not Forex Open is the subsidiary of FXOpen group and has any affiliation with the Company.

FXOpen wishes to warn its customers of the fake sites and recommend them being on the alert. The unauthorized actions of the above sites may also cause damage to the Company’s reputation or mislead its potential clients. In this regard FXOpen claims it will take every legal step to seek justice and protect its customers’ valuable interests.

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

FXOpen Launches Customer Support Portal

FXOpen, one of the world’s leading Forex brokerage companies, is delighted to announce the launch of a Customer Support Portal – support.fxopen.com. The key target of the project is to reorganize the customer support process and implement a number of new opportunities.

The Customer Support Portal is a specialised, user-friendly system designed specifically for FXOpen clients. We have introduced some valuable options for the company’s clients e.g., tailored advice from the specialist online support team with immediate effect, query placement and status monitoring.

With the development of the project, the FXOpen product users will become more independent and self-contained in solving a number of technical and finance-related issues. Each participant will have access to detailed descriptions of the company’s focus areas and the services provided.

The launch of the Customer Support Portal will enable FXOpen clients to:
•enter a chat room and start a conversation with a support team operator;
•make queries to the appropriate departments, update their requests and follow the problem resolution process;
•get the required information from the company’s knowledge base – FXOpen Help – in full.

FXOpen clients will have the opportunity to assess the quality support received, enabling us to improve the efficiency, refine internal processes and deliver a first-class customer service.

To log into the portal simply use MyFXOpen details.

Currently FXOpen clients are provided with an opportunity of sending tickets to the customer support service and consulting the company’s operator online. An extensive knowledge base is being created within the project. It will help to familiarise users with FXOpen services, activities and terms of business within a short time span.

FXOpen cares about its customers’ interests and applies maximum efforts to make the cooperation with the company convenient and transparent.

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

FXOpen MT4 Server Time Changes to GMT +2

FXOpen informs its customers about the changes in the server time. Starting with the market opening on Monday (November 4, 2013) the GMT offset in the company’s Meta Trader 4 will be set to GMT +2 (revert to Standard Time).

The change applies to all types of FXOpen accounts:
•Live ECN, STP, Standard and Micro;
•Demo ECN, STP and Standard;
•PAMM.

The change in the GMT offset should not generally impact open trades or the process of opening, placing, closing or modifying trades. But we strongly recommend that you adjust the time setting in your Indicators and EA’s so that they will give you the reliable data.

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

FXOpen Runs SMS Notifications Service

FXOpen is glad to offer its customers a new service – SMS notifications. This option is available for all users registered with the company. The functional is developed to carry out extra verification when log into MyFXOpen personal area, get notifications about the withdrawal or payment status changes, as well as recover a new password under strict security conditions.

SMS service is designed to simplify a number of internal processes and to provide safe and convenient interaction of the company’s clients and partners with the system. The opportunity to monitor the status of requests, directly obtain the profile details and be up on other important processes in MyFXOpen improves traders’ performance and enhances the overall efficiency of the company’s services.

FXOpen customers will receive SMS notifications to their cell phones after this option is activated in their MyFXOpen personal area.

To set up SMS service log into MyFXOpen, choose Profile--> SMS notifications and follow further instructions.
At the moment this option is free and can be enabled or disabled any time.

For more details about the new service configurations and the list of available SMS notifications please, see FXOpen Help.

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

FXOpen Comes to the UK

FXOpen, a leading Forex broker, is pleased to announce further expansion into the European financial market by opening a new office in London, UK. The company’s interests in Europe are now represented by FXOpen UK, offering its services within the strict regulatory framework of the UK’s Financial Conduct Authority.

FXOpen UK is a trading name of FXOpen Ltd and is a part of FXOpen Group. In March 2013, FXOpen Ltd became authorised and regulated by the Financial Conduct Authority (previously known as the Financial Services Authority) under FCA firm reference number 579202. The company is currently registered in England and Wales under company number 07273392.

"We are glad to expand our footprint into this region and to offer a most reliable and transparent cooperation to the European Forex community,” commented Denis Peganov, Director of FXOpen NZ Limited. “We hope our prospective clients and partners will appreciate our competitive trading conditions, top quality execution, world-class technologies, and advanced trading tools.”

The launch of the UK office is the next step in FXOpen’s campaign to open up and develop new markets in regulated jurisdictions. It represents an opportunity for the company to showcase the full scope of its seamless services and compete in the same field as its peers.

We aim to meet the highest expectations of our clients, their satisfaction and safety of their funds being our top priority.

Follow FXOpen News

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

Minimum Contract on STP Reduced to 0.01 lot

Starting from 29th of November, FXOpen has reduced the size of the minimum contract for the STP accounts to 0.01 lots, or 1000 units of base currency.

Clients can now trade on the interbank market with smaller volumes and lower risk, whilst still enjoying all the advantages of STP technology, such as floating spreads, ECN liquidity and no commissions.
Partnership programs and PAMM technology for STP accounts will be announced by the company shortly.

Please follow the news on our site for further information.

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

Trading Hours on Christmas and New Year 2014

Dear Clients,
Please note the following changes to the trading hours and terms during the Christmas and New Year holiday season:

FX (Currencies)
Tue 24 December 2013- normal trading hours
Wed 25 December 2013 - CLOSED, REOPENS at 22:00 GMT (or 00.00 GMT +2 FXOpen Server Time)
Thu 26 December 2013 - normal trading hours
Tue 31 December 2013 - for ECN accounts - normal trading hours; for STP & MM accounts (Standard and Micro) trading closes at 18:00 GMT (or 20.00 GMT +2 FXOpen Server Time)
Wed 1 January 2014 - CLOSED, REOPENS at 22:00 GMT (or 00.00 GMT +2 FXOpen Server Time)
Thu 2 January 2014 - normal trading hours

Precious Metals
Tue 24 December 2013 - trading closes at 18:30 GMT (or 20.30 GMT +2 FXOpen Server Time)
Wed 25 December 2013 - CLOSED, REOPENS at 23:00 GMT (or 01:00 GMT +2 FXOpen Server Time)
Thu 26 December 2013 - normal trading hours
Tue 31 December 2013 - for ECN accounts - normal trading hours; for STP & MM accounts (Standard and Micro) trading closes at 18:00 GMT (or 20.00 GMT +2 FXOpen Server Time)
Wed 1 January 2014 - CLOSED, REOPENS at 23:00 GMT (or 01:00 GMT +2 FXOpen Server Time)
Thu 2 January 2014 - normal trading hours

Please note that due to thinner liquidity in the market on the holiday dates, there is an increased probability of wider spreads in all account types.
*The maximum leverage for all account types will be reduced down to 1:100 between 26.12.2013 and 02.01.2014.

FXOpen team would like to thank you for your support and your business in 2013. We are looking forward to working with you to building up a lasting success in 2014. Merry Christmas and Happy New Year!

*This change will take effect automatically when the Market opens on 26 December 2013 and will end when the market opens on January 2, 2014

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