FXOpen Forex Broker

Monday, November 2, 2009

FXOpen is a major Forex trading service providers for the Islamic traders, but it doesn't limit itself to Muslim traders only. Anyone can benefit their "no overnight interest" system which is rare for MetaTrader 4 platform broker. They also offer trading courses which might be useful to the beginning traders. Regular contests and deposit bonuses with e-gold and WebMoney payment options make FXOpen a reasonable player on the Forex brokers market.
Spreads — as low as 2 pips on EUR/USD.
Minimum deposit for micro account — only $1.
Minimum deposit for standard account — only $25.
Instant order executions and quote handling.
Margin leverage from 1:1 up to 1:500.
Free unlimited demo accounts available.
Regular technical research and market news available.
Experienced and helpful support.
100$ bonus on new standard accounts.
Trading contests.
Trading courses for new traders.
Muslim friendly trading system.
Serious company for serious traders.
ECN (Electronic Communication Network) execution available through MetaTrader.
Liberty Reserve and WebMoney billing options.
To open account with FXOpen — complete a registration process on their site and download a free MetaTrader 4 trading platform. Then you will be able to deposit money into your trading account and enjoy your Forex trading process.

Muslim Forex Brokers

A list of Forex brokers which are friendly to Muslim Forex traders, allowing them to open the accounts without overnight interest (no Riba accounts). Such brokers can be very useful for traders from Iran, Saudi Arabia and other countries of Middle East.
Sort by: Order Minimum Account Traders' Rating Name
Forex Broker Name
Min. Account Size
MT4
WebMoney
CFD
Browser-based Platform
Registered with any Regulator
Easy On-line Account Opening
Rating
FXOpen
$1
+
+
-
-
+
+
9.3
InstaForex
$1
+
+
+
-
+
+
2.8
Forex4you
$1
+
+
+
-
-
+
6.7
E-Global
$20
+
-
+
-
+
+
9.6
FxCompany
$100
+
+
+
-
+
+
8.5
FXcast
$10
+
+
-
-
-
+
5.0
Marketiva
$1
-
+
-
-
+
+
7.2
MasterForex
$1
+
+
+
-
-
+
5.2
InvestTechFX
$100
+
-
+
-
+
+
8.5
EFOREX
$25
+
-
-
-
-
+
4.6
Boston Merchant Financial
$100
+
+
+
-
+
+
6.2
eToro
$50
-
+
-
+
+
+
4.8
IS Markets
$250
+
-
+
-
+
+
4.5
Forex.com
$250
+
-
-
+
+
-
7.1
X-Trade Brokers
$2,000
+
-
+
-
+
-
5.2
Tadawul FX
$500
+
-
-
-
+
+
8.3
Forex.CH
$2,000
+
-
-
-
+
-
3.0
IKON GM – Royal Division
$2,500
+
-
-
-
+
-
7.9
MGFOREX
$500
-
-
-
+
+
+
8.3
MFN
$500
-
-
+
-
-
+
3.6
Forex Broker Name
Min. Account Size
MT4
WebMoney
CFD
Browser-based Platform
Registered with any Regulator
Easy On-line Account Opening
Rating
GCI Financial
$2,000
+
+
+
+
+
+
7.6
Xforex
$100
-
-
-
+
-
+
7.4
Forex-Metal
$1
+
+
+
-
+
+
6.0
One Financial
$250
+
-
+
+
+
-
6.2
Exto Capital
$1,000
-
+
+
+
+
+
4.7
NordMarkets
$1,000
-
-
-
-
+
-
8.4
ForexGen
$250
+
-
-
-
-
+
5.0
FXTSwiss
$2,000
+
-
-
-
-
+
3.1
Apex FX Trading
$2,000
+
-
-
-
-
+
2.8
ForexYard
$100
-
-
-
+
-
+
3.5
Arab Financial Brokers
$2,000
+
-
-
-
+
+
5.5
FXClearing
$10
+
-
-
-
+
+
7.7
EMPFX
$300
-
-
+
-
-
+
3.8
FXCH
$2,000
+
+
+
-
-
+
7.3
FX-PRO
$1,000
+
-
-
-
-
+
3.4
Taurus Global Markets
$5,000
+
-
+
-
-
+
3.4
Forex Place
$100
+
-
+
-
-
+
4.0
Wall Street Brokers
$10
+
-
+
-
-
+
8.3
FXM Financial Group
$10
+
+
-
-
+
+
3.7
StartForex
$100
+
-
-
+
-
+
5.4
Forex Broker Name
Min. Account Size
MT4
WebMoney
CFD
Browser-based Platform
Registered with any Regulator
Easy On-line Account Opening
Rating
Alma Forex
$1
+
+
-
-
+
+
3.1
SwissDealing
$0
-
-
-
-
-
+
7.0
RFXT
$1,000
+
-
-
-
+
+
3.8
FX Trading
$500
+
-
-
-
-
+
4.3
Azurite Markets
$100
-
-
+
+
+
-
5.0
1pipfix
$100
+
+
+
-
-
+
1.7
Basel Financial
$50
+
+
-
-
+
+
7.5
Forex Systems
$250
+
-
+
-
+
+
5.0

Oil Trading Forex

An assorted list of Forex brokers that provide all traders with the opportunity to trade oil and sometimes other types of commodities. Oil price is strongly connected to the currency rates, that's why the oil market often brings a good chance to the Forex traders to increase their usual profit.
Sort by: Order Minimum Account Traders' Rating Name
Forex Broker Name
Min. Account Size
MT4
WebMoney
CFD
Browser-based Platform
Registered with any Regulator
Easy On-line Account Opening
Rating
FXOpen
$1
+
+
-
-
+
+
9.3
Forex4you
$1
+
+
+
-
-
+
6.7
E-Global
$20
+
-
+
-
+
+
9.6
Ava FX
$100
-
+
+
-
-
+
6.9
FxCompany
$100
+
+
+
-
+
+
8.5
EXNESS
$100
+
+
+
-
+
+
7.0
Easy-Forex
$200
-
-
-
+
+
+
7.7
InvestTechFX
$100
+
-
+
-
+
+
8.5
10Pips
$100
-
+
+
-
-
+
7.2
Boston Merchant Financial
$100
+
+
+
-
+
+
6.2
Aurora Global Markets
$1,500
-
-
+
+
+
-
4.8
Plus500
$50
-
-
+
-
-
+
7.8
Saxo Bank
$2,000
-
-
+
-
+
-
7.4
Interactive Brokers
$5,000
-
-
+
+
+
+
9.8
X-Trade Brokers
$2,000
+
-
+
-
+
-
5.2
MB Trading
$400
+
-
-
-
+
-
7.9
Finotec
$200
-
-
+
-
+
+
7.4
ECN broker
$200
-
-
-
-
+
+
2.9
ODL Securities
$2,000
+
-
+
-
+
+
7.6
MF Global
$10,000
-
-
+
-
+
-
3.6
Forex Broker Name
Min. Account Size
MT4
WebMoney
CFD
Browser-based Platform
Registered with any Regulator
Easy On-line Account Opening
Rating
IG Markets
$200
-
-
+
+
+
+
8.3
CMC Markets
$2,000
-
-
+
-
+
-
3.8
Neuimex
$400
+
+
+
-
+
+
4.3
MFN
$500
-
-
+
-
-
+
3.6
FIBOGroup
$300
+
-
+
-
-
+
3.1
ActivTrades
€250
+
-
+
+
+
+
8.3
ABN AMRO marketindex
£1
-
-
+
+
+
+
7.5
GCI Financial
$2,000
+
+
+
+
+
+
7.6
FxPro
$100
+
-
+
-
+
+
8.2
DeltaStock
$100
+
-
+
+
+
-
8.0
Forex-Metal
$1
+
+
+
-
+
+
6.0
One Financial
$250
+
-
+
+
+
-
6.2
Exto Capital
$1,000
-
+
+
+
+
+
4.7
NobleTrading
$250
-
-
-
+
+
+
8.5
GDI Markets
$10,000
-
-
+
-
+
-
6.5
GOMarkets
$1
+
-
+
-
+
+
8.0
ATC Brokers
$3,500
+
-
-
-
+
-
6.9
Windsor Brokers
$100
+
-
+
-
+
-
6.2
ForexYard
$100
-
-
-
+
-
+
3.5
HY Markets
$50
-
-
-
+
+
+
5.8
Forex Broker Name
Min. Account Size
MT4
WebMoney
CFD
Browser-based Platform
Registered with any Regulator
Easy On-line Account Opening
Rating
Prime4x
$100
+
-
+
-
-
+
7.9
Arab Financial Brokers
$2,000
+
-
-
-
+
+
5.5
WH SelfInvest
€2,500
-
-
+
+
+
-
8.7
Sucden
£5,000
-
-
+
-
+
-
5.2
EMPFX
$300
-
-
+
-
-
+
3.8
Bulbrokers
$50
+
-
+
-
+
-
5.1
HMS Markets
€10,000
-
-
+
-
+
-
4.8
BroCo
$100
+
+
+
-
+
-
7.9
FX-PRO
$1,000
+
-
-
-
-
+
3.4
ATG
$25,000
-
-
-
-
+
-
8.1
WSD
$1,000
+
-
+
-
+
-
3.0
Taurus Global Markets
$5,000
+
-
+
-
-
+
3.4
Forex Place
$100
+
-
+
-
-
+
4.0
MoneyRain
$100
+
+
+
-
+
+
7.5
Azurite Markets
$100
-
-
+
+
+
-
5.0
1pipfix
$100
+
+
+
-
-
+
1.7
Basel Financial
$50
+
+
-
-
+
+
7.5

Risk and Reward Forex Calculator

The risk and reward calculator will help you to calculate the position's best targets and their respective reward-to-risk ratios based on the Fibonacci retracements from the local peak and bottom. It's a powerful tool to determine the potential risks before entering any positions.
The price needs to be inside the wave for you to use this calculator properly. Here are the two variants of the wave you can work with — bullish and bearish:
The current price is C; A is the beginning of the wave (bottom for bullish and peak for bearish); B is the local maximum (for bullish wave) or minimum (for bearish wave).
Fibonacci retracements (0.382 and 0.618) are calculated to form the entry, target and stop-loss levels. It's better to enter positions only if the current price (C) is close to 0.382 Fibonacci level.
Price A:

Price B:

Price C:

Results:
0.382 Retracement:
0.618 Retracement:
1st Target:
2nd Target:
3rd Target:
Risk
Reward
Ratio
1st Target:
2nd Target:
3rd Target:
It's not recommended to enter a trade if your reward-to-risk ratio is less than 2.

Forex Resources

This list of Forex resources contains URLs to other useful Forex sites - Forex forums, general Forex information resources, Forex signals providers and our partners. If you find a broken link, or wish to exchange links with us - please, contact me via the link exchange form.


Forex market news
FXstreet — Many useful articles, constantly added expert commentaries and forecasts
DailyFX — Everything happening in Forex world is covered here
Currency Newswire — daily currency news and Forex highlights.
Forex charts and technical analysis
Incredible Charts — A very good resource to learn everything about charts
Inspectd.com — practice your technical analysis skills.
Metatrader Expert Advisors and Metatrader Indicators, MQL4 Coding Service
BollingerBandsForex — Features charts with Bollinger Bands and a wide array of indicators. Lists of trades of currency pairs based on Bollinger Band trading systems.
Forex brokers
MasterForex — offers a wide variety of trade instruments (Forex, CFD, Futures), an easy and user-friendly trading platform (MT4), terminal for PDAs and Smartphones. 24/5 customer support is always online. Minimum deposit is 1$. We also have Islamic accounts. Spreads begin from 2 pips. Leverage can be up to 1:500. We have the best conditions for partners!
MagnumBroker.com interbank forex broker, futures and stocks broker — Terminals: MetaTrader 4, Strategy Runner, Laser trade, mobile trading, 1000+ trading instruments, automatic trading, catalog of trading systems, trading central research, no requotes, fast execution, direct access, currenex, licensed broker.
Forex signals and market forecasts
Profit Guide Forex — reliable Precise Trading System with free software that can generate your own signal.
Open Forex — Foreign Exchange Trading, Forex Analysis and Forecasts
Forex Training - Work at Home Business Opportunity — Offers forex training - internet home based business opportunity. Work from home job.
AceTrader - FX signal provider — Provides 24-hrs Intraday and Daily FX trading commentaries & signals. Services started on Reuters since 1989, on Internet since 2000.
Forex forums and community sites
ForexFactory — a popular Forex discussion forum
MoneyTec — Forex related Forum dedicated to technical analysis.
Forex trading information
Go Learn Forex — Learn how to trade forex like a professional trader at Go Learn Forex.
TradeJuice — The largest selection of FREE day trading articles in the world
Investopedia.com — a large educational Internet resource about investing and trading.
Forex Glossary — Terms and terminology used in Forex Trading. Index of financial and investment terms.
Forex trading — Forex technical and fundamental analysis, forex charts and brokers.
Forex Training with Peter Bain's Forex Currency Day Trading Course — Forex training course and forex services by professional forex traders.
Online Forex Trading — We talk about currency exchange using online platform, forex softwares and trading systems.
Forex system and MT4 indicator — Free download forex system and MT4 indicators.
Forex directories
Forex Directory — Whole Forex in one place
Forex Web Directory — link to forex related sites and more business information.
Business Web Directory — a large resource of all kind of financial information.
Most Visited Forex Websites — Ranking the most visited forex websites based on alexa and compete statistics. Includes website reviews and historical ranking information.
Our link partners
Data Recovery
Currency Rates — Sign up today with us and we will find you the best currency exchange rates for your business or personal needs.
Stock market tips — Investing in Indian stock market made easy with our live nse/bse market tips. Our trading tips covers NSE and BSE .We provide intraday and long term share market calls daily with Equal Emphasising on fundamental and on technicals aspects.Check gainers,losers ,news,penny stock,IPO ,Free tips,trading tricks.
Debt Consolidation — Financial assistence for those suffering from overwhelming debts.

Advantages of the Forex Market

When thinking about various investments, there is one investment vehicle that comes to mind. The Forex or Foreign Currency Market has many advantages over other types of investments. The Forex market is open 24 hrs a day, unlike the regular stock markets. Most investments require a substantial amount of capital before you can take advantage of an investment opportunity. To trade Forex, you only need a small amount of capital. Anyone can enter the market with as little as $300 USD to trade a "mini account", which allows you to trade lots of 10,000 units. One lot of 10,000 units of currency is equal to 1 contract. Each "pip" or move up or down in the currency pair is worth a $1 gain or loss, depending on which side of the market you are on. A standard account gives you control over 100,000 units of currency and a pip is worth $10.
The Forex market is also very liquid. When trading Forex you have full control of your capital.
Many other types of investments require holding your money up for long periods of time. This is a disadvantage because if you need to use the capital it can be difficult to access to it without taking a huge loss. Also, with a small amount of money, you can control
Forex traders can be profitable in bullish or bearish market conditions. Stock market traders need stock prices to rise in order to take a profit. Forex traders can make a profit during up trends and downtrends. Forex Trading can be risky, but with having the ability to have a good system to follow, good money management skills, and possessing self discipline, Forex trading can be a relatively low risk investment.
The Forex market can be traded anytime, anywhere. As long as you have access to a computer, you have the ability to trade the Forex market. An important thing to remember is before jumping into trading currencies, is it wise to practice with "paper money", or "fake money." Most brokers have demo accounts where you can download their trading station and practice real time with fake money.

$ Up 3rd Day on Lower Consumer and Manufacturer Sentiment

EUR/USD went down for a third day in a row today after the fundamental reports from U.S. showed decline of the confidence in both consumer and manufacturer sectors of the economy. Only housing price index showed a moderate monthly growth today. EUR/USD is currently trading near 1.4810.
S&P/Case-Shiller home price index based on the seasonally-adjusted prices decreased by 11.36% in August compared to the same month of 2008. It rose from 143.12 to 144.51 in month-to-month perspective.
Consumer confidence decreased from 53.4 to 47.7 in October. A small growth to 53.5 was expected by the market participants. Index reading below 50 is critical and suggests worsening of the conditions for the consumer sector.
Richmond Fed manufacturing index decreased from 11 to 7 in October. It was expected to be reported at the same level as previous month.

EUR/USD Shows Record Weekly Fall !

The dollar is rising against the euro today, almost snapping the yesterday gain on EUR/USD, as the personal income and spending statistics worsened in September. The macroeconomic reports that were released today sent the stock markets down after a yesterday rally and the euro continued it’s weekly slump, showing a biggest 5-day drop since April this year. EUR/USD is trading at 1.4746 now.
U.S. personal income remained unchanged in September after rising by 0.1% in August. The market participants expected such value from the report. Personal spending declined by 0.5% in September, following 1.4% growth during a previous month. This value was also expected by the analysts.
Chicago PMI index rose unexpectedly fast in October — from 46.1 to 54.2. The forecasts pointed at 49.0 as a new value for this manufacturing indicator.
University of Michigan Index of Consumer Sentiment decreased from 73.5 to 70.6 in October, while a decline to 70.0 was forecasted by the analysts.