FXOpen Review
FXOpen in a nutshell
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.
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
- 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
Cons
- 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)
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.