What is OpenTrading？
OpenTrading offers a trading platform that allows users to trade over 400 CFDs of stocks, indexes, currencies, commodities, ETFs, and cryptocurrencies. As a leading trading alternative in LATAM, OpenTrading aims to provide excellent support in both Spanish and English, available 24 hours a day, 5 days a week. OpenTrading has made a significant mark in LATAM by being the first company to offer access to the MT5 platform.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Pros & Cons
OpenTrading Alternative Brokers
There are many alternative brokers to OpenTrading depending on the specific needs and preferences of the trader. Some popular options include:
Grand Capital – A multi-asset trading platform that provides traders with access to various financial markets, innovative trading technologies, and an extensive range of investment options.
PRCBroker - Regulated by CySEC and VFSC, is an online brokerage that offers a wide range of trading instruments across various asset classes.
IG - A comprehensive trading platform with a range of trading tools and educational resources for all levels of traders.
Is OpenTrading Safe or Scam？
OpenTrading currently has no valid regulation, which means that there is no government or financial authority oversighting their operations. It makes investing with them risky.
If you are considering investing with OpenTrading, it is important to do your research thoroughly and weigh the potential risks against the potential rewards before making a decision. In general, it is recommended to invest with well-regulated brokers to ensure your funds are protected.
Market Instruments
OpenTrading offers a diverse range of trading instruments to its clients, providing access to over 400 CFD (Contract for Difference) products.
Shares: OpenTrading allows trading on a wide array of shares from different companies across the globe. This allows investors to speculate on the price movements of individual stocks without owning the underlying assets.
Commodities: Traders can access a variety of commodities such as gold, silver, oil, natural gas, wheat, and more. These commodities are essential resources and their prices can be influenced by factors like supply and demand, geopolitical events, and economic indicators.
Forex: OpenTrading offers a broad selection of currency pairs for forex trading. Traders can speculate on the exchange rate fluctuations between different currencies, such as EUR/USD, GBP/USD, USD/JPY, and more.
Cryptocurrencies: Cryptocurrency enthusiasts can trade popular digital currencies like Bitcoin, Ethereum, Ripple, and more. OpenTrading provides an opportunity to profit from the volatility of these digital assets without owning them.
Indexes: OpenTrading provides access to a range of global stock market indexes like the S&P 500, NASDAQ 100, FTSE 100, DAX 30, and more. Traders can speculate on the overall performance of these indexes, allowing exposure to a broader market sentiment.
ETFs (Exchange-Traded Funds): OpenTrading offers trading on ETFs, which are investment funds traded on stock exchanges. These funds track the performance of a specific market index, sector, or theme, providing an opportunity for diversification.
ADRs (American Depositary Receipts): ADRs represent shares of non-U.S. companies that trade on U.S. stock exchanges. OpenTrading allows trading on ADRs, providing exposure to international companies without trading on foreign exchanges.
Accounts
OpenTrading claims to offer demo accounts and a choice of two live account types: individual accounts and corporate accounts. However, it says nothing about the minimum initial deposit requirement to open an account.
OpenTrading also provides demo accounts for traders who want to practice and familiarize themselves with the platform before trading with real funds. Demo accounts simulate real market conditions, allowing traders to execute trades using virtual funds.
Trading Platforms
OpenTrading provides its clients with two trading platforms: the powerful MetaTrader 5 (MT5) and a user-friendly Web Terminal.
OpenTrading offers the widely acclaimed MT5 platform, which is known for its advanced features and comprehensive functionality. MT5 is a versatile trading platform that caters to the needs of both beginner and experienced traders. It provides access to a wide range of trading instruments, including forex, stocks, commodities, cryptocurrencies, and more.
OpenTrading also offers a Web Terminal, which is a browser-based platform that allows clients to trade without downloading or installing any software. The Web Terminal provides a convenient and accessible trading experience, as traders can access their accounts and trade from any computer with an internet connection.
Deposits & Withdrawals
OpenTrading supports bank transfer deposits and withdrawals as a convenient and secure method for clients to fund their trading accounts or withdraw their funds. Bank transfers are a widely accepted and trusted payment option, allowing users to transfer funds directly from their bank accounts to their trading accounts and vice versa.
To make a deposit via bank transfer, clients can initiate a transfer from their bank to OpenTrading's designated bank account. The necessary banking details, such as account number and routing information, are usually provided by OpenTrading upon account registration or can be found on their website. It's important to ensure that the correct reference or account number is used during the transfer to ensure accurate allocation of funds.
Customer Service
Customers can visit their office or get in touch with customer service line using the information provided below:
Email: info@opentrading.org (24/5)
Moreover, clients could get in touch with this broker through the social media, such as Twitter, Facebook and Linkedin.
Whats more, OpenTrading provides a Frequently Asked Questions (FAQ) section on their website to assist their clients with commonly asked questions and provide relevant information. The FAQ section aims to address common queries and concerns that investors may have regarding the company's services, processes, and investment opportunities. By offering this resource, OpenTrading aims to provide transparency and clarity to their clients, helping them make informed decision.
Conclusion
In conclusion, OpenTrading is a trading platform i, offering a wide range of trading options including stocks, indexes, currencies, commodities, ETFs, and cryptocurrencies. With its user-friendly interface and advanced charting tools, OpenTrading's trading platform, MT5, caters to the needs of both beginner and advanced traders.
However, OpenTrading doesnt have regulation. Therefore, traders should verify the regulatory status of OpenTrading or any broker they choose to work with to ensure compliance with industry standards and regulatory requirements.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
