|Date of foundation|
104 Dzerzhinskogo Ave., office 803 B, Minsk, 220116, Republic of Belarus
|The owner of the company|
Open Investments LLC
|Types of support|
Email: [email protected]
|Support by phone|
MetaTrader 4 (PC, Web, Mobile)
|Min. first deposit|
From 500 USD
Depends on the type of account: 0.01%, 0.03%, 0.13%
From 0 points
|Free Demo Account|
NB RB№ 192612632
|Types of accounts|
Demo, Pro, Premium, Invest
|Features of trade|
Trading on different financial markets using innovative tools
|Methods of replenishment|
Bank Transfer, Bank Card (Visa/MC)
Bank Transfer, Bank Card (Visa/MC)
|Number of assets|
|Types of assets|
Stock indices and futures contracts
USD, RUB, EUR
GBE Brokers, Invast Global
|Tournaments / contests|
Training for OpenFX clients is provided by Atimex partner company
|Contract Difference Commission|
Daily short- and long-term forecasts, economic calendar
RegistrationSeveral affiliate programs for additional earnings
Advantageous conditions for traders
Availability of training materials
Lack of a large number of options for deposit and withdrawal
Legal name: Open Investments LLC
Legal address: 104 Dzerzhinskogo Ave., office 803 B, Minsk, Republic of Belarus, 220116
Allowed to use robots and advisors in trading
|Signals for trading|
Subscription to MetaTrader 4 Signal Providers
Service for quick search tools for trading
|Date of update|
OpenFX is it a scam? Reviews and description
- 1. Terms of trading with OpenFX
- 2. OpenFX platform
- 3. Demo account openfx.by
- 4. Mobile application
- 5. Bonuses at OpenFX
- 6. Deposit and withdrawal
- 7. Complaints about OpenFX
- 8. Broker regulator
- 9. Is OpenFX a scam?
- 10. Conclusion
- 11. reviews.
OpenFX - it's a famous Belarusian Forex brokerwhich appeared on the financial market in 2016. In a fairly short period of time the project has become popular among clients and continues to develop actively.
In this review, we will take a closer look at the opportunities the company provides for traders and find out if OpenFX is a scam or a reliable forex broker.
Commission 0% when trading stocks and BTC (promo code A1005104) - trade.
Terms of trading with OpenFX
OpenFX provides its customers with comfortable and favorable conditions for trading in the forex market (foreign currencies, stock indices and futures contracts, precious metals, oil, shares). The main office of the organization is located in Minsk, from where the broker's activity is regulated.
The company provides several types of accounts for clients, so that every trader can choose the appropriate conditions:
- Professional (Pro) - account, which is best suited for beginner traders. The minimum deposit is 500 USD/EUR or 40,000 RUR. Maximum leverage is x100. Floating spread from 0 pips is provided. Commission is 0.01%. No additional services are offered.
- Premium (Premium) - To open this type of account, you need to deposit a minimum amount of USD/EUR 1000 or RUB 75,000 to activate your account. The maximum leverage is x200. The commission for two parts of the operation is 0.03%. For traders individual conditions and additional services from the partners of the Forex company are provided.
- Investment (Invest)- account for stock trading. To open an account you must deposit 1,000 USD/EUR or 75,000 RUB. The commission is 0.13%. Individual conditions and additional services from the partners of the Forex company are also provided.
Among the main advantages of the broker can be distinguished:
- good reputation;
- minimum spread;
- favorable conditions for traders;
- availability of training materials;
- the ability to open a demo account;
- affiliate program.
The broker is trying to provide the most comfortable conditions for traders, so they can trade through the most popular and functional platform Metatrader4. MT4 is a safe and modern software, which will help to optimize the trading process. Indicator testing, free signals and strategies are also available for clients. Both web version and software on computer or smartphone are available. Moreover, the company developed special "Trader's Tools" - a set of solutions designed for both professionals and beginners, allowing you to quickly find tools and make transactions.
On the broker's website openfx.by there is a scheme, which details information about how the company brings transactions to the interbank market. This scheme specifies the information that the liquidity providers are Invast Global, as well as GBE Brokers.
Demo account openfx.by
To allow traders to try their hand at trading, as well as to become more familiar with the functionality of the platform, the broker has developed a demo account. A demo account has the same functionality as a real one, so customers can get acquainted with the platform and the terminal, as well as practice strategies. The only difference is that trading is done with virtual currency, which means that the user has absolutely nothing to lose.
For convenient trading clients of OpenFX can download MetaTrader 4 application to their PCs or smartphones, upgraded specifically for working with a brokerage account opened with the company. There are the following types of terminals:
- MetaTrader 4 terminal for PC.
- MetaTrader 4 for iPhone and iPad.
- MetaTrader 4 for Android.
And so that users could use the platform even from their smartphones, a mobile version of the site was developed. Thus, traders can trade at any time
Bonuses at OpenFX
Periodically on the site openfx.by information about various special offers from the broker appears. Right now several promotional programs are active at once.
"Freezing commissions until the end of winter."
Trade American stocks and bitcoin (USD/BTC) without brokerage commission until March 1, 2022 (promo code A1005104). The promotion is valid for new and active OpenFX clients.
Open an OpenFX account from $100 until December 31, 2021 and receive a +$50 cash bonus.
For those clients who want to earn extra income, the company provides an affiliate program. As part of the program, users can attract new traders to the project and receive compensation for this. The company provides several variants of the program:
- Agent - or IB. Partners can earn from 50 to 65% of the broker's income. For 100 lots the approximate payment is 500$. Percentage directly depends on total turnover of all attracted clients. Suitable for both beginners and experienced partners.
- Bring a friend - This variant of the program is great for bloggers, analysts, owners of social networking groups and groups, as well as SEO specialists. Partners receive remuneration, which directly depends on the number of clients attracted. Payment for the client with a deposit of 500$ - 50$, for the client with a deposit of 1000$ - 100$. There is no limit on clients.
Deposit and withdrawal
The company has two methods of deposit/withdrawal:
- By bank transfer.
- By bank card (for customers from Belarus, Visa and Mastercard are available; for customers from Russia, Kazakhstan and Ukraine only Visa cards are available; for customers from other countries only Visa cards are available).
Bank transfer fee
Deposit: The commission is charged by your bank, the amount of commission you can specify in your bank.
Conclusion: In case of withdrawal by bank transfer to the bank account outside Belarus, the bank sender is charged a fee of 0.15% from the amount (minimum - 12 USD, maximum - 200 USD) + 5 EUR. Your beneficiary bank and correspondent bank may charge their fees as well, you should specify the fee amounts in your bank. Correspondent bank is an intermediary bank between the sending bank and the receiving bank.
Withdrawal to Priorbank JSC is charged by the sending bank in the amount of 0.8% of the amount (minimum 5 USD / 5 EUR / 300 RUB, maximum 500 USD / 500 EUR / 30 000 RUB). Withdrawal to another Belarusian bank is charged by the sending bank in the amount of 5 EUR (for payments in EUR); 200 RUB (for payments in Russian rubles); 7 USD (for payments in USD and other currencies), as well as a fee may be charged by your beneficiary bank and correspondent bank.
Fee when using a bank card
Deposit: When depositing by bank card, no fee is charged.
Withdrawal: Withdrawal is available without a fee only to the bank card from which the recharge was made, and only within the recharge amount. At the same time, withdrawal without fee is available for 175 days from the date of the top-up transaction. Upon expiration of this period, the refund will be made by bank transfer.
Example: On 01.01.2021 you refilled your card with 3000 USD and the refund is available without commission for 175 days (almost 6 months) to the card from which you refilled the card. The second top-up, placed on 01.08.2021 for 2000 USD, refund is available without any fee for 175 days to the card from which the top-up was placed. For example, today it is 05.08.2021 so the commission free refund is available only for the second recharge of 2000 USD.
It is worth noting that the withdrawal of funds in excess of the recharge amount can be made by bank transfer.
Complaints about OpenFX
Over 4 years, quite a lot of feedback from clients has accumulated on the Internet. In general, the company has a positive reputation, but often there are negative comments about the project. From the advantages traders note comfortable conditions for trading, additional instruments, stable payments, a license, a profitable affiliate program. The disadvantages are sometimes delays in quotes and long response time from the support team.
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It is known that the platform belongs to Open Investments LLC, which is registered under the number 192612632. Also, the broker is included in the register of forex companies and has a license from the National Bank of the Republic of Belarus (NBRB). All the necessary documentation for clients can be found on the website. The contact details and location of the main office are not hidden.
Openfx.by User Agreement
"Public offer" is a document that users need to read before registering on the site openfx.by. The offer specifies the rules of cooperation with the broker, as well as the rights and obligations of clients and organizers. Let's consider some points in more details. The document specifies the information that the company declines responsibility for the improper execution of its own obligations, if it was affected by the following events:
- breakdown of communication or other equipment, as well as software failure, unless it was not contributed to by intentional actions on the part of the broker;
- a temporary halt in the execution of operations on the market, liquidation or closure of the underlying asset, as well as the absence of the event, which allows the organizer to base the price of the underlying asset;
- introduction of restrictions or non-standard conditions for operations on the asset market;
- Issuance of assets/prohibitions by state authorities or other relevant organizations that suspend or completely prohibit the ability to execute the trader's order as part of transactions.
If the user becomes aware that any third party has gained access to his profile, he must immediately notify the broker about it. In this case, the organizer undertakes to take measures to exclude further use of the access data. For this period the user will not be able to carry out operations and make inquiries until new data for logging into their account is received.
The user understands and accepts the fact that the broker declines the responsibility for the access of third parties to his personal data, including e-mail address, correspondence, personal data and account access data in cases when this information was transferred between the parties or a party and another authorized third party via Internet, as well as network communications or SMS-messages. The user must also understand. that the broker has the right to change the quotes received from external counterparties before providing them to the client, on the amount of remuneration, by increasing the size of the spread or increasing the bid price.
The client understands that the possibility of making a profit in the Forex market is directly related to the risk of incurring losses, so the broker in turn removes his responsibility for it:
- Losses that the user may have incurred due to the use/change of leverage or related to adverse changes in the value of underlying assets;
- closing of the user's positions, caused by reaching the minimum margin level;
- losses that were caused by an insufficient level of margin collateral in relation to open positions;
- lack of liquidity in the OTC forex market;
- inaccessibility of underlying asset prices;
- losses that were caused by a decrease or lack of liquidity altogether;
- losses resulting from market fluctuations;
- moral damages, as well as any losses that may result from the use of strategies, tactics, methods or forecasts of clients;
- losses due to hacker attacks or computer network failures.
Is OpenFX a scam?
OpenFX is a popular Belarusian forex broker, which began its work in 2016. The company is actively developing and quickly gained popularity among traders. The project is headquartered in Minsk, from where the regulation of the site is carried out. The broker is trying to provide traders with comfortable and favorable trading conditions. Customers can trade foreign currencies, stock indices, futures, precious metals, oil and stocks. To ensure that every trader can choose the right conditions, there are several account options for users. There is also a learning section where beginners can find videos, courses and intensives on forex trading.
In order the platform could be used from any device, a mobile version of the site was developed. For active clients, an affiliate program with the ability to earn up to 75% is provided. A large number of user reviews can be found on the web. Some customers are satisfied with the conditions provided by the broker, but occasionally there are negative comments about the project. After examining the opportunities offered by the broker for its clients, is it possible to say that OpenFX is a scam? No, because the company has the appropriate license and operates based on the legislative framework of Belarus.
Broker OpenFX Although it is quite young, it attracts traders with its reliability and favorable conditions. The services of the platform are used by a large number of clients, mainly from the CIS countries. The advantage of the broker is the presence of the necessary license, a wide range of methods of deposit and withdrawal, as well as the availability of unique functionality to find useful tools.
The company cares about its users, so educational materials have been created for beginners. If you were or are a client of OpenFX forex broker, leave your impressions about the company's work on our website.
- I recommend to pay attention to the Belarusian broker OpenFX 26 April 2022 at 15:46
- I do not understand the negativity towards the broker OpenFX 15 April 2022 at 00:48
- I've been trading for a long time and have managed to cooperate with many notorious and not-so-notorious exchanges 3 April 2022 at 15:09
- I chose OpenFX for the possibility of comfortable and profitable Forex trading 26 March 2022 at 18:47
- I am happy with the Belarusian broker OpenFX on all fronts 17 March 2022 at 16:42
- Grew X2 9 March 2022 at 07:31
- Excellent customer-oriented approach 20 February 2022 at 14:43
- More training wouldn't hurt 28 January 2022 at 12:07
- I'm fine with it 24 January 2022 at 14:31
- I will invest here again! 21 January 2022 at 13:27
- OpenFX - not bad, but it could be better 28 December 2021 at 13:33
- I GOT THE TRAINING, IT WAS HELPFUL 24 December 2021 at 15:32
- OpenFX - quality service 21 December 2021 at 17:09
- I'll say this, oppenfx is really a... 7 December 2021 at 15:02
- I immediately had no doubts about the honesty and reliability of OpenFX 28 November 2021 at 19:02
- It's a comfortable environment 25 November 2021 at 16:33
- Great platform for trading! 20 November 2021 at 18:25
- OpenFX doesn't make empty promises. It has... 29 October 2021 at 19:18
- I don't plan to look for an... 25 October 2021 at 18:47
- It was doubtful to trust my capital... 21 October 2021 at 17:02
- I found out a long time ago... 28 September 2021 at 20:39
- I am for comfortable investing! The OpenFX... 25 September 2021 at 11:14
- I contacted OpenFX to have them develop... 20 September 2021 at 20:00
- I trust my money only to OpenFX 29 August 2021 at 20:26
- OpenFX does not fail with payments. The... 27 August 2021 at 09:30
- Over 2 years of investing under the... 21 August 2021 at 11:00
- You can work with OpenFX broker. The... 30 July 2021 at 13:55
- I am satisfied with cooperation with OpenFX 28 July 2021 at 14:12
- I don't know how OpenFX is set... 21 July 2021 at 21:23
- The OpenFX platform is a pleasure to... 27 June 2021 at 11:55
- I recently found a Belarusian brokerage platform... 23 June 2021 at 12:21
- I am 100% satisfied with my cooperation... 20 June 2021 at 12:22
- I don't understand where the reviews are about... 23 May 2021 at 19:51
- If I trade, then only with OpenFX 17 May 2021 at 14:19
- I started working with OpenFX as a... 27 April 2021 at 09:52
- Of course, everyone has to choose their... 23 April 2021 at 10:45
- No complaints about OpenFX's payment discipline! The... 16 April 2021 at 20:45
- With a bank card you can deposit... 27 March 2021 at 12:17
- You can predict the growth on the... 20 March 2021 at 11:45
- I had an experience with unscrupulous brokers 17 March 2021 at 12:04
- After a long time of preparation, I... 15 December 2020 at 14:49
- I've been working with them for more... 30 June 2020 at 08:39