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What are the pros and cons of trading with OpenMarkets?

Broker Issues
OpenMarkets
Regulation
07-20
United States
WikiFX
Reply

One of the pros of trading with OpenMarkets is that it offers a wide range of services, including enterprise APIs, execution services, and risk management. The firm also has diverse customer support channels, such as phone, email, and social media. However, the lack of an active regulatory license is a major con, as it leaves traders exposed to potential risks. Additionally, the firm does not offer a demo account, which makes it harder for new traders to practice without risking real capital. As someone who values transparency, I would find the openmarkets platform more trustworthy if the firm had clearer information about its fees and accounts. A openmarkets review could help clarify the pros and cons further.

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