FXOpen introduces easy bank transfers

FXOpen is delighted to announce a new free and seamless deposit and withdrawal option that will transform your funding experience with FXOpen. Thanks to our partnership with TrueLayer, an FCA approved provider, we now offer easy bank transfers to our valued traders. Easy bank transfers are currently available for our traders in Austria, Finland, France, Germany, Ireland, Lithuania, Netherlands, Poland, Portugal, Spain and Sweden.

What are the benefits?:

• It’s fast and effortless: no need to manually enter card information or account details. Funding your account has never been quicker or easier.
• Highly secure and increased protection against fraud: Authenticate payments directly with your bank using a secure, read-only connection and login credentials are never stored or shared with anyone.

The how-to:

1) Select Add Funds > Easy Bank Transfer.
2) Select your country and then choose your bank from the list.
3) Confirm your payment and enter the desired amount. You will be redirected to your bank’s mobile banking or web app to authorise the payment.
4) Once authorised, you will be automatically redirected back to FXOpen to finish the transaction.

Understanding an easy bank transfer

An easy bank transfer is a type of payment method, powered by open banking. It allows you to transfer funds between accounts without relying on cards or third-party payment networks. It’s easier than traditional bank transfers and more secure than card payments.

What is open banking?

Open banking began in the UK in 2018, whereby the some of the largest banks in the country were required to implement criteria to allow secure access to customer data. This was followed by EU Regulations (PSD2), requiring all banks to give access to a client's financial data, with their consent. Its goal is to give more transparency and control over their money. It enables a user to securely connect to their bank and authorise an instant bank transfer to their account, instead of using a card or third-party provider.

How secure are easy bank transfers?

Easy bank transfers are extremely safe. Payments are authenticated directly with your bank using a secure, read-only connection. Your login credentials are never stored or shared. We partnered with TrueLayer to securely connect to your bank

Is my bank supported?

Many EU-based banks are currently supported, and the list is constantly expanding. To check if your bank is currently supported, please visit your Client Portal, select ‘Easy Bank Transfer’ under 'Add Funds', enter the amount you wish to deposit and click 'next' to view the list of available banks