FXOpen took the plunge and now offers commission-free trading services to its retail customers! On Monday, FXOpen announced that brokers were no longer required to pay any commission fees for index trades placed on an FXOpen ECN account. The remarkable development has opened up a world of opportunities for traders globally.
As FXOpen UK’s Chief Operating Officer, Gary Thomson, proudly said that FXOpen remained dedicated to making trading as accessible and cost-effective as possible. He added that they’d uphold the commitment in the upcoming 2023 year.
The broker takes pride in knowing that commission-free trading can make all the difference for clients. They were pleased to announce that everyone’s trades on index CFDs would be free of charge—no matter how much they trade. Through regular updates to our ECN liquidity, FXOpen strives to ensure that clients are afforded the ideal trading experience.
FXOpen, a leader in the industry since its inception in 2005, provides counterparty trading services across 600 markets, including FX, index CFDs, shares CFDs, commodities, and cryptocurrencies. Recently they introduced commission-free trading for one specific type of instrument only.
FXOpen has a strong international presence due to its valid licenses in the United Kingdom, Cyprus, and Australia. The UK-registered parent of FXOpen had an increase in annual revenue from 2021 compared to previous years, reaching £611,705 – nearly a 146% annual increase. Nonetheless, despite this jump in income, the company ended with a net loss of £456,913 for that year.
Fueled by the ever-growing number of customers in Britain and other countries, which was all part of a grand plan, its profits increased. It has acquired professional and retail traders to deepen customer loyalty even further. However, there needs to be more information regarding the exact client numbers available at this time.
FXOpen Joins the Revolution to Offer Zero-Free Trading
Robinhood revolutionized the trading industry by introducing commission-free services and challenged legacy brokerage houses to change their business model. Counterparty brokers also followed suit with no-fee options for some of their products to attract customers from all backgrounds.
In addition to FXOpen, a variety of other forex and CFD providers also offer commission-free trading. Among these are RoboMarkets, FXTM, CMC, ActivTrades, FXCM, eToro, and more – but their zero-fee offerings pertain primarily to stocks and index trades.
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