FXOpen operates in your country (United States) — but holds no local license. You’d likely be onboarded under an offshore entity, which means weaker fund protection. Confirm which entity before depositing.

Low risk

Scam Risk Scoremonitored · 2026-07-28

Lower riskHigher risk

Authorised by Tier-1 regulator(s): CYSEC, FCA
Registered in Saint Kitts and Nevis (offshore, light oversight)
4 user exposure/complaint reports filed

How this score is calculated — view the open algorithm

A transparent weighted score from objective public data — each factor scored 0–100 (higher = riskier), combined by the weights below.

Factor	Score	Weight
Regulation & licensing	8	35%
Company age	22	15%
Clone / impersonation	0	12%
Withdrawal & exposure complaints	54	12%
Offshore registration	80	8%
Transparency (site/info/social)	0	10%

Based on public regulatory records, industry databases and independent reviews (Trustpilot, Forex Peace Army). Exit Risk reflects recent negative momentum in real reviews. A risk estimate from public data, not a definitive legal judgment; brokers may request a correction.

Company

Legal nameFXOpen Markets Limited

Headquarters Saint Kitts and Nevis

Founded2018-11-26

Years operating5-10 years

Employees0

Official websitefxopen.hk

Trading conditions

Avg execution speed0 ms

Avg slippage0

Swap rating—

Trading cost rating—

Monitored traders0

Monitored orders0

Funding & instruments

Deposit methods · --

Withdrawal methods · --

Instruments--

Registered address

3rd Floor Waverley House, 7-12 Noel Street, London, United Kingdom, W1F 8GQ.

Regulation & licenses · 2

Regulator	License type	License No.	Region	Status
CYSEC	Market Making License (MM)	194/13	Cyprus	Regulated
FCA	Forex Execution License (STP)	579202	United Kingdom	Regulated

Account types · 4

Account	Max leverage	Min. deposit	Min. spread	Commission	EA
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%	✓

Full reviewIn-depth editorial analysis

Review analysis AI

FXOpen EU operates under two reputable regulators (CySEC and FCA) and achieves a low risk score of 21/100 in FXCanary’s assessment. The broker’s product offering is typical of a well-regulated retail forex/CFD broker, with ECN accounts, multiple platforms, and a wide instrument range. While the company registration in Saint Kitts and Nevis is an offshore element, the regulated EU entity provides a solid framework of investor protection. No scam indicators or significant red flags were identified in our research.

Best for

Cost-effective ECN trading with low spreads
Regulated broker under CySEC and FCA
Access to over 700 instruments across multiple asset classes
Multiple advanced trading platforms (MT4, MT5, TickTrader, TradingView)
Tiered account options for different capital levels

Not for

Traders with very small capital (Basic account still requires $100 and limited features)
Beginners seeking extensive educational resources and step-by-step guidance
US residents (not regulated in the US)
Traders who prefer fixed spreads or commission-free accounts (ECN model charges commission)

Period:

Real user reviews

Where FXOpen operates

Active across 66 markets (by market presence). Licensing rarely covers all of them — where it isn’t locally licensed, you’re onboarded under an offshore entity with weaker protection.

🇵🇱 Poland

🇮🇳 India

🇺🇸 United States

🇳🇬 Nigeria

🇧🇷 Brazil

🇮🇩 Indonesia

🇩🇪 Germany EEA

🇿🇦 South Africa

🇻🇳 Vietnam 1 complaint

🇨🇦 Canada

🇷🇺 Russia

🇵🇰 Pakistan

🇹🇷 Turkey

🇲🇾 Malaysia

🇹🇭 Thailand

🇳🇱 Netherlands EEA

🇺🇦 Ukraine

🇫🇷 France EEA

🇨🇾 Cyprus Licensed

🇬🇧 United Kingdom Licensed

🇧🇩 Bangladesh 2 complaints

🇭🇰 Hong Kong 1 complaint

🇪🇺 Passported across 16 EU/EEA countries under its EU license.

Market presence: WikiFX SkyEye · complaints: our records · licensing: official registers. Where you’re accepted is set by the broker’s own terms — always confirm before depositing.

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What FXOpen says about itself as stated by the broker · not independently verified by FXCanary

Regulation and Trust

FXOpen EU claims to be regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 194/13. The broker markets itself as 'a broker you can trust' and emphasises that it holds a cross-border license authorising its services across European Union Member States. It also states that it has been 'embracing innovation' for over 18 years, referencing the broader FXOpen brand history.

Trading Conditions

According to its website, FXOpen operates a leading ECN-based technology platform, offering tight spreads and fast execution. It claims spreads as low as 0.0 pips and a commission from $1.50 per lot, positioning its ECN account as 'the most cost-effective form of FX trading' with no fixed spreads or markups.

Account Types

FXOpen does not detail individual account types on its landing page, but the known facts list four tiers: Elite ECN (minimum deposit $250,000), Advanced ECN ($25,000–$250,000), Classic ECN ($1,000), and Basic ($100). The broker markets its ECN accounts as offering low-cost trading, though specific spreads, commissions, and features per tier are not prominently advertised on the homepage.

Platforms and Instruments

The broker claims to offer three trading platforms: MT4, MT5, and TickTrader, with TradingView also mentioned in the company description but not on the main site. It states it provides over 700 instruments across indices, commodities, forex, shares, cryptos, and ETFs. The site highlights the variety of tradable assets and the availability of a demo account for new users.

About FXOpen

Company Background

FXOpen is a trading name of FXOpen EU Ltd, registered in Saint Kitts and Nevis and founded on 26 November 2018. The broker’s official domain is fxopen.eu, and its registered address is at 3rd Floor Waverley House, 7-12 Noel Street, London, United Kingdom, W1F 8GQ. Despite the registration in Saint Kitts and Nevis, the broker operates under EU regulation via its Cypriot entity.

The FXOpen brand has a longer history in the forex industry, but the EU entity (FXOpen EU) is a relatively newer operation established in 2018. The broker is also licensed by the Financial Conduct Authority (FCA) in the United Kingdom for its execution-only services, adding another layer of regulatory oversight for UK clients.

Regulation and Licensing

FXOpen EU is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) under licence number 194/13, holding a Market Making license. This enables the broker to offer services across the European Economic Area under the MiFID II passporting regime. Additionally, the FCA register lists FXOpen as holding a Forex Execution License (STP) for the UK, regulated status.

The combination of CySEC and FCA oversight provides traders with a framework of investor protection, including negative balance protection and, for EU clients, access to the Investor Compensation Fund (up to €20,000). The broker’s advertised focus on transparency and regulatory compliance aligns with these licences.

Account Types and Minimum Deposits

FXOpen structures its accounts into four distinct tiers to cater to different trader profiles. The Basic account requires a minimum deposit of $100, making it accessible for retail traders starting out. The Classic ECN account demands a $1,000 minimum, offering a balance of features and cost. For more experienced traders, the Advanced ECN account requires between $25,000 and $250,000, while the Elite ECN account starts at $250,000, targeting high-net-worth individuals and institutions.

The broker does not explicitly state maximum leverage for these accounts in the known facts, but as a CySEC-regulated entity, maximum leverage for retail clients is capped at 30:1 for major forex pairs under ESMA rules. Professional clients may access higher leverage upon meeting eligibility criteria.

Trading Platforms and Instruments

FXOpen provides multiple trading platforms to suit different trading styles: MetaTrader 4 (MT4), MetaTrader 5 (MT5), TickTrader, and TradingView. These platforms offer advanced charting, automated trading via Expert Advisors, and custom indicators. TickTrader is the broker’s proprietary platform, available through a dedicated subdomain, and is designed for ECN trading with real-time market data.

The broker advertises over 700 tradable instruments, covering forex, indices, commodities, shares, cryptocurrencies, and ETFs. This wide selection allows traders to diversify across asset classes within a single account. The availability of a demo account on the website helps potential clients test the platforms and conditions before committing funds.

Target Audience and Suitability

FXOpen is positioned as a cost-effective broker for traders seeking ECN execution and low spreads. The variety of account tiers means it can accommodate both retail traders with modest capital and professional traders with substantial funds. The broker’s EU regulation makes it particularly suitable for European clients who want a regulated entity within the ESMA framework.

However, the very high minimum deposits for the Elite and Advanced accounts indicate that the broker is also targeting high-volume traders and institutional clients. The availability of multiple platforms and a broad instrument range further appeals to experienced traders who value flexibility. Beginners may find the Basic account a suitable entry point, though the broker’s marketing focuses more on advanced trading conditions than educational resources.

Brand Presence and Support

FXOpen maintains an active social media presence on Facebook, Instagram, LinkedIn, and YouTube, which helps in building community engagement and providing market insights. The official website includes a well-structured layout with clear sections on regulation, trading conditions, and platform details. The broker offers a demo account and a login area for existing clients, suggesting standard client portal access.

Customer support details are not extensively detailed on the site, but the presence of a physical address in London and a registered EU entity implies accessible support channels. The broker’s transparency in displaying its licences and regulatory status on the homepage is a positive indicator for traders prioritising safety.

Overview compiled by FXCanary from regulatory records and public data. full FXOpen review