FXOpen Review
FXOpen in a nutshell
FXOpen presents a low risk profile with a Scam Risk Score of 21/100, supported by dual regulation from CySEC and FCA. The broker is a legitimate retail FX/CFD provider with a clear operational history since 2018. While its registration in Saint Kitts and Nevis introduces an offshore element, the regulatory oversight in Cyprus and the UK provides a meaningful safety net for European clients. No red flags were identified in the web search results, and the broker's claims align with its publicly available information. Traders should still conduct their own due diligence, but on balance FXOpen appears to be a dependable choice within the regulated forex space.
FXCanary rates FXOpen at 21/100 scam risk (Low risk), based on regulation & licensing, fund-safety signals, company transparency, complaint history and real user feedback.
See the open scoring breakdown →
Pros
- European traders seeking CySEC regulation
- Traders wanting ECN accounts with low spreads
- Professional traders with high capital for Elite ECN
- Traders needing multiple platform options (MT4, MT5, TickTrader, TradingView)
Cons
- Traders with deposits under $100 (Basic account minimum)
- US-based traders (not licensed in the US)
- Traders seeking unregulated high leverage or bonus-heavy brokers
Regulation & licenses
Every licence on file for FXOpen, as cross-checked by FXCanary against public regulatory registries.
| Regulator | Type | Licence no. | Status | Country |
|---|---|---|---|---|
| CYSEC | Market Making License (MM) | 194/13 | Regulated | Cyprus |
| FCA | Forex Execution License (STP) | 579202 | Regulated | United Kingdom |
Account types & conditions
Account tiers and trading conditions on record for FXOpen.
| Account | Min. deposit | Max. leverage | Min. spread | Commission |
|---|---|---|---|---|
| Elite ECN | $250,000 | -- | from 0.0 | FX $1.50 Crypto CFD From 0.03% Index CFD 0% Commodity CFD 0.0018% Shares CFD 0.1% |
| Advanced ECN | $25,000 - $250,000 | -- | from 0.0 | FX $1.80 Crypto CFD From 0.05% Index CFD 0% Commodity CFD 0.0018% Shares CFD 0.1% |
| Classic ECN | $1000 | -- | from 0.0 | FX $2.50 Crypto CFD From 0.08% Index CFD 0% Commodity CFD 0.0025% Shares CFD 0.1% |
| Basic | $100 | -- | from 0.0 | FX $3.50 Crypto CFD From 0.08% Index CFD 0% Commodity CFD 0.005% Shares CFD 0.1% |
FXOpen is a forex and CFD broker based in Saint Kitts and Nevis, with records dating to 2018-11-26. It reports oversight from CYSEC, FCA.
FXCanary’s verdict is “Low risk.” On balance the regulatory footprint and real-user feedback are reassuring, though no broker is risk-free.
On Trustpilot, FXOpen holds a real-user score of 2.8/5 across 3 reviews. Withdrawal problems appear 1 times — always test a small withdrawal first.
Finally, beware of impersonation: we tracked 1 clone website(s) copying FXOpen. Always reach the broker through its verified official domain, never via links in ads or messages.
Scam-risk findings
- Authorised by Tier-1 regulator(s): CYSEC, FCA
- Registered in Saint Kitts and Nevis (offshore, light oversight)
- 4 user exposure/complaint reports filed
Our scoring method is published in full and weighs regulation, fund safety, company age, clone reports, complaints and independent reviews. FXCanary takes no payment from any broker it rates.