X Open Hub Review 2024
Website: www.xopenhub.pro
Min. Deposit: US$ 0
Leverage: 1:30
Trading Platforms: MT4, XOH Traders
Regulation: FCA
Headquarters: UK
Founded: 2002
Regulatory Licenses:
- XTB Limited - authorized by FCA (UK) registration no. 522157
Updated on April 19, 2024
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At Broker Insight, our review methodology for evaluating brokers is comprehensive and multi-faceted, ensuring a well-rounded analysis. We start by examining the broker's regulatory compliance and background, assessing the security and reliability of their operations. This is followed by a thorough evaluation of the range and diversity of trading instruments and markets offered, as well as the variety and suitability of account types available for different trader profiles. We delve into the trading platforms and tools provided, focusing on user experience, functionality, and technological robustness. Fees, spreads, and overall cost structure are scrutinized for transparency and competitiveness. A key component of our review involves testing the effectiveness and responsiveness of customer support. Additionally, we consider the ease and efficiency of the deposit and withdrawal processes. Finally, we incorporate real user feedback and the broker’s community reputation into our assessment to present a holistic and unbiased review that serves as a valuable resource for traders seeking reliable and insightful broker evaluations.
Our experts have conducted thorough research and analysis on X Open Hub, concluding that it stands out as a commendable broker with a robust history and exceptional regulation for transparency. Its business model is geared towards delivering superior trading conditions, particularly for institutional clients, professional traders, banks, and brokerages. Among its notable strengths are the competitively low costs and spreads, which are some of the most attractive in the industry. Additionally, X Open Hub supports an extensive range of platforms, software, APIs, and trading solutions, catering to diverse trading needs.
Pros
Competitive costs and spreads
Wide range of supported platforms and trading solutions
Cons
Not suitable for regular or small size traders
Is X Open Hub safe or a scam? ▲
X Open Hub is definitively not a scam. It operates under the umbrella of XTB Broker, a group committed to complying with European standards. This adherence to regulatory laws and standards assures traders a secure trading environment.
X Open Hub Review Summary in 10 Points ▲
Headquarters: UK
Regulation and License: FCA
Instruments: 3000+ global instruments including forex, indices, cryptocurrencies, commodities, shares, and ETFs
Platforms: MT4, XOH Traders
Costs: 0.3 pips
Demo Account: Available
Base currencies: EUR, USD, GBP
Minimum deposit: $0
Education: Comprehensive education for beginners and advanced investors
Customer Support: Available 24/6
Our expert analysis and reviews conclude that X Open Hub is a reliable broker offering excellent service and highly favorable trading conditions suitable for both novices and seasoned traders. One of its significant advantages is providing some of the industry's lowest spreads. After conducting tests and comparisons with over 1000 brokers, X Open Hub's Overall Ranking stands at 9.0 out of 5.
Indeed, X Open Hub is authorized and regulated by several reputable entities, including the UK Financial Conduct Authority (FCA), the Polish KNF, CySEC, IFSC in Belize, and CMB in Turkey. It also holds a cross-border passport to more than 10 EU countries. The adherence to strict regulatory requirements ensures a secure trading environment for partners and clients alike.
The broker provides a comprehensive security of funds, including the establishment of negative balance protection. This means investors with losing positions will not fall into negative balance, ensuring institutional partners and accounts are safeguarded with robust risk management features. This makes X Open Hub a reliable choice for trading.
While engaging in trading activities with X Open Hub, traders are presented with the opportunity to utilize leverage as a tool. This feature can amplify potential profits by allowing traders to multiply their initial account balance. The extent of leverage available is influenced by several factors such as the trader's level of experience, the specific trading instrument, and regulatory constraints. Being a UK-based and FCA-authorized entity, X Open Hub adheres to stricter leverage guidelines. For retail traders, the maximum leverage offered is 1:30 for major currency pairs, 1:20 for minor pairs, and 1:10 for commodities. It's crucial for traders to comprehend how to employ leverage effectively, as it can also escalate potential losses alongside the opportunities for increased gains.
X Open Hub's account offerings are not distinctly categorized, but as a provider of trading solutions primarily to institutions and established enterprises, it diversifies its services into Solutions for Banks, Brokers, and Startups. Each service is tailor-made to fulfill specific requirements. Whether the client is a bank or a brokerage firm, they are empowered to enhance their trading services to their customers by adopting an outsourcing strategy. X Open Hub leverages its deep understanding of broker needs to deliver a trading environment where third-party entities can develop and implement a new trading system via XOH APIs. Unfortunately, X Open Hub does not provide Islamic Accounts, thus traders seeking to adhere to Sharia law might need to look elsewhere. The accounts offer flexibility in markups, swaps, customizable settings, client support, reporting tools, and no security group restrictions, along with integrated systems such as IB, MAM, multi-asset, flexible netting, and gross management to diversify the front-end offer.
Our research indicates that X Open Hub grants access to a broad spectrum of global trading instruments, featuring deep liquidity. A variety of instruments enables X Open Hub's partners and clients to invest in diverse markets, including the most traded and exotic ones, with competitive low spreads starting from 0 pips and without requotes. X Open Hub's Market Range Score is rated 8.3 out of 5 for its impressive selection of trading instruments, although trading is limited to FX and CFDs, and it does not offer cryptocurrencies due to the FCA's restrictions for UK clients. The broker provides over 5,000 assets for trading as CFD instruments, supported by a global infrastructure, including forex, indices, cryptocurrencies, commodities, shares, and ETF.
X Open Hub has developed a comprehensive multi-asset trading platform tailored to brokerage needs, also featuring MAM capabilities for advanced tools and features. Its proprietary platform, along with a vast array of additional features, integrates full risk management systems with liquidity and execution solutions. X Open Hub's platforms are ranked excellent, with a score of 8.8 out of 5, making it one of the most competitive offerings in the industry, inclusive of MT4 and its proprietary platform. The mobile app, XOH Trader, facilitates trading across various devices through HTML5 platform versions and mobile applications, offering advanced trading capabilities, various types of execution, powerful analysis, and visual features, complemented by robust risk management tools, various capabilities, and Smart Executors for NDD model optimization.
The excellence of X Open Hub's customer support is noteworthy, providing awarded support recognized for client satisfaction. This includes a 24-hour live chat facility and support in multiple languages, accommodating even less commonly spoken languages. The support is multi-channel and ranks among the best in the industry. X Open Hub's Customer Support is rated 8.5 out of 5 based on our evaluations, with fast and knowledgeable responses compared to other brokers and easy accessibility during working days.
X Open Hub invests in educating its clients about the market and the finance industry, which is always beneficial as enhanced trading skills are crucial at every stage. The broker offers a knowledge base for both beginners and advanced investors, detailed through webinars and other resources tailored to individual needs. The Education provided by X Open Hub is rated 8.7 out of 5, offering high-quality educational materials and research.
Based on our research, the fees associated with X Open Hub are determined by the type of account and services utilized but are predominantly incorporated into the spread. It is also important to consider potential additional fees such as funding fees, which vary depending on the financial institution, as well as possible flat fees for periods of inactivity after a certain duration.
X Open Hub's fees are regarded as competitive, with an overall score of 4.1 out of 5 in our analysis, which compares it against a comprehensive list of 1000 other brokers. The majority of the brokerage's fees are included within the spreads, making them appealing for traders.
X Open Hub's spreads are notably competitive, offering a very attractive pricing model. The spreads are floating and include various additional tools to secure better pricing. Tailored solutions are also available to meet the specific requirements of each investor or institution. For example, the standard spread for EUR/USD is reported to be as low as 0.6 pips, which is below the industry average, thus offering a low spread compared to many in the sector.
In our assessment, X Open Hub's spreads receive a low rating with an overall score of 4.2 out of 5, based on our testing and comparison to other brokers. We observed that the Forex spread for EURUSD is significantly lower than the industry's average of 1.2 pips, and the spreads for other instruments are similarly attractive.
In conclusion, X Open Hub stands out as a forex broker with competitively low trading fees and spreads. With an overall score of 4.1 out of 5 for its fees and 4.2 out of 5 for its spreads, X Open Hub offers a pricing model that is not only competitive but also transparent, incorporating most fees within the spread. The broker provides a variety of tools and tailored solutions to meet the specific needs of traders and institutions alike, making it an attractive option for those looking for cost-effective trading solutions. The relatively low spread for major Forex pairs, such as EUR/USD, further enhances its appeal to traders seeking to minimize their trading costs. Therefore, X Open Hub is recommended for traders who prioritize low fees and competitive spreads in their trading endeavors.
