Opoforex

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 contained in this article is for general information purposes only.

General Information & Regulation

Opoforex is a broker offering multi-asset trading. It provides DMA and ECN services, as well as copy trading opportunities. Our broker review will cover minimum deposit requirements, the sign-up and login process, live spreads, account types, and more. Find out whether to start trading with Opoforex today.

Opoforex is a financial services provider offering global trading services. It operates under the name ‘Opo Group LLC’ and was established in 2021, with offices in Kingston, Saint Vincent and the Grenadines. The company offers 300+ instruments and has more than 8,000 active users.

Here is the home page of this brokers official site:

Unfortunately, Opoforex is not regulated by a reputable financial regulator. Opo Group LLC is a member of The Financial Commission (FINACOM). This is not a governmental body – it is an independent organization that maintains a register of financial services organizations. As a result, limited regulatory protection is afforded to active clients.

And importantly, we always recommend opening an account with a broker that is regulated by a recognised authority, such as the FCA, CySEC or ASIC.

Note: The screenshot date is February 9, 2023. WikiFX gives dynamic scores, which will update in real-time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.

Market Instruments

Clients are offered investment opportunities in 300+ trading financial markets:

• Forex – 35+ currency pairs, including majors and minors such as EUR/GBP and GBP/USD

• Spot metals – Trade metal and base currency pairs, including silver and gold

• Spot energies – Trade oil and natural gas

• Indices – Speculate on 12 indices in the worlds biggest economies, including the NASDAQ, DAX and S&P 500

• Stocks – Speculate on 60+ major EU and US companies, including Amazon, ING Group, BNP Paribus and Nestle

• Cryptocurrencies – Invest in digital and fiat currency pairs, including Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), and Binance Coin (BNC)

Account Types

Retail clients have access to four account options, namely Standard, ECN, Social Trade and ECN Pro. Whilst asset access varies by account, all options provide the MetaTrader terminal. Minimum deposit requirements start from $100. The below screenshot shows the main features broken down by account type.

Demo Account

Opoforex offers free demo accounts, which is a good way to practise trading, navigate platform features, or test a forex strategy risk-free. Once signed up, traders can access virtual funds and experience real-time trading conditions and prices.

Leverage

The leverage is capped at 1:2000. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads & Commissions

Spreads and commissions vary by account type. Clients on the Standard and Social Trade accounts can experience normal spreads with no commissions, while the ECN and ECN Pro account holders have unspecified low spreads and commissions.

Trading Platform

Clients are provided with the MetaTrader4, MetaTrader5 and MetaTrader WebTerminal trading platforms, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors.

Deposit & Withdrawal

Opoforex says to work with numerous means of deposit and withdrawal choices, consisting of cryptocurrencies, UnionPay, Advcash, Visa/Master Cards, Perfect Money, TopChange, Local Bank Transfers, wire transfers, and fasapay.

Minimum deposit requirements start at $100 on the Standard and ECN accounts. The broker does not disclose any fees charged for deposits, however, third-party charges may apply.

Withdrawals can be made free of charge. Those submitted before 10 am will be processed within the same working day, though clearing times may vary by method.

In line with anti-money laundering (AML) policies, withdrawals must be made back to the original payment method. And, clients may not request or receive a withdrawal until know-your-customer (KYC) compliance documents are provided, which include proof of residency.

Customer Support

Opoforex offers 24/7 customer service via telephone: +447312763042, email: support@opofinance.com, Whatsapp: +44 2081236500 (Chat Only), Telegram: @opofinancesupport, live chat or send messages online to get in touch. You can also follow this broker on social networks such as Twitter, Facebook, and Instagram. Company address: CT House, Office 9D, Providence, Mahe Seychelles.

Pros & Cons

Frequently Asked Questions (FAQs)