Opoforex

GENERAL INFORMATION AND REGULATION

OpoForex is an offshore 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.

The brokerage aims to provide traders with a stable investment foundation paired with innovative trading features. 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 organisation that maintains a register of financial services organisations. 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.

MARKET INSTRUMENT

Clients are offered investment opportunities in popular 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 AND LEVERAGE

Retail clients have access to four account options. Whilst asset access varies by account, all options provide the MetaTrader terminal. Minimum deposit requirements start from 100 USD. Below are the main features broken down by account type.

Standard

Instruments: forex, spot metals, spot commodities, CFDs on indices, US shares, EU shares and cryptocurrencies.

• 80% margin call

• Instant execution

• 40% stop out level

• No commission fees

• Spreads from 1.8 pips

• 0.01 minimum lots per trade

• $100 minimum deposit requirement

ECN

Instruments: forex and spot commodities, CFDs on indices and cryptocurrencies

• 80% margin call

• 40% stop out level

• Spreads from 0.8 pips

• Market order execution

• $6 commission fee per trade

• 0.01 minimum lots per trade

• $100 minimum deposit requirement

Copy Trade

Instruments: spot metals and spot commodities, CFDs on indices

• 80% margin call

• 40% stop out level

• No commission fees

• Spreads from 2.5 pips

• Market order execution

• 0.01 minimum lots per trade

• $200 minimum deposit requirement

ECN Pro

All instruments

• No spreads

• 80% margin call

• 40% stop out level

• Market order execution

• $4 commission fee per trade

• 0.01 minimum lots per trade

• $5000 minimum deposit requirement

Account registration takes a matter of minutes, however, you may need to provide documents to verify your identity to comply with AML policies.

Demo Account

OpoForex offers a free demo account. This 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 varies by asset and volume. The broker withholds the right to change margin ratios on customer accounts deemed a significant risk. Clients are offered margin opportunities of up to 1:1000 on major forex pairs for 0-5 lots trading volume. On a volume of 100+ lots, 1:25 leverage is available.

SPREADS AND COMMISSIONS

Fees and commission vary by account type. There are no commission fees with the Standard and Copy accounts, however, relatively high spreads are charged, starting at 1.8 pips on the Standard solution and 2.5 pips on the Copy Trade account. The ECN account offers the tightest spreads, starting at 0.8 pips, though a $6 commission per trade is also charged.

Unfortunately the broker provides limited information on additional fees, such as inactivity charges. With that said, swap-free allowance days are offered on forex and precious metal trades.

TRADING PLATFORM AVAILABLE

Clients are provided with the MetaTrader 4 (MT4) trading platform. MT4 is compatible with all major web browsers and can be downloaded to desktop, mobile, and tablet devices. Features include:

• Historical data

• Live news streams

• Customisable charts

• 4 pending order types

• 3 order execution types

• Access to Expert Advisors

• One-click order execution

• Automated trading via APIs

• MQL4 programming language

• 30+ built-in technical indicators

• User-friendly, multilingual interface

Note, OpoForex does not offer MetaTrader 5.

DEPOSIT AND WITHDRAWAL

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.

Traders can use bank wire transfers, credit/debit cards and e-wallets, including Skrill and Neteller, to fund accounts. Unfortunately, there is limited information on processing times for live accounts, though digital payments are often instant.

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 SERVICE

OpoForex offers 24/7 customer service via:

• Telegram

• Online contact form

• Whatsapp – +44 2081236500

• Email – support@opoforex.com

• Telephone – +35724267200 (8 AM to 5 PM, GMT+3)

• Social media – Instagram, Facebook and LinkedIn

• Address – OpoForex, Kingstown, First Floor, First St Vincent Bank Ltd Building, James Street

Note, there is no FAQ portal for a quick resolution to simple issues