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Open Markets

Moderate riskForex / CFD broker
🇦🇺 Australia · 2-5 years · since 2023-06-09 · Open Markets
Unregulated
Visit site ↗
3.7/5
★★★★★ ★★★★★
1 reviews ›
0
Licenses ›
0
Withdrawal issues ›
—
Min. deposit ›
—
Max leverage ›
0
Account types ›
44/100
Scam risk ›
0
Clone sites ›
▲ 0% positive▼ 0% negative
Independent ratingshow third parties score this broker
WikiFX1.42/10
Trustpilot3.7/5
Forex Peace Army—/5
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No sign that Open Markets actively operates in your country (United States). If you were solicited from here, be extra cautious — it may be an unregulated approach or a clone.
44
Moderate risk
Scam Risk Scoremonitored · 2026-07-28
Lower riskHigher risk
  • No verified regulatory license on file
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.

FactorScoreWeight
Regulation & licensing8535%
Company age4515%
Clone / impersonation012%
Withdrawal & exposure complaints012%
Offshore registration108%
Transparency (site/info/social)2810%

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 nameOpen Markets
Headquarters🇦🇺 Australia
Founded2023-06-09
Years operating2-5 years
Employees0
Official websiteopenmarkets.cfd
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
246 Exhibition St Melbourne VIC 3000 Australia

Regulation & licenses · 0

No valid regulatory license found — high caution advised.

Review analysis AI

Rating mismatch — Industry-tracker scores run far lower than real users do (gap -2.99)

Open Markets is a recently founded Australian broker offering Forex, Commodities, Stocks, and Cryptocurrencies via MT5 and a proprietary platform. Its lack of any regulatory licence and elevated FXCanary risk score (44/100) indicate significant uncertainty and limited recourse for clients. Traders should proceed with extreme caution.

Best for
  • Traders willing to accept high risk
  • Users of MetaTrader 5
  • Those interested in multi-asset CFD trading
Not for
  • Risk-averse traders
  • Traders requiring regulatory protection
  • Long-term investors
Period:

Real user reviews

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About Open Markets

Company Overview

Open Markets is a broker registered in Australia, founded on June 9, 2023. It operates from its registered address at 246 Exhibition St, Melbourne VIC 3000.

The broker’s official domain is openmarkets.cfd, indicating a focus on Contracts for Difference (CFDs). According to public records, Open Markets does not hold any regulatory licences from Australian or international financial authorities.

Trading Platforms and Instruments

Open Markets offers traders access to the widely-used MetaTrader 5 platform, along with its own proprietary trading platform. This dual-platform approach aims to cater to both experienced traders familiar with MT5 and those seeking a custom interface.

The broker lists trading instruments across four asset classes: Forex, Commodities, Stocks, and Cryptocurrencies. However, detailed specifications on spreads, leverage, or available instruments are not provided in public records.

Regulation and Client Protection

A critical point for potential clients is that Open Markets is not regulated by any recognised financial authority. This absence of oversight means Australian and international traders using the platform are not covered by investor compensation schemes or dispute resolution services.

Traders should be aware that unregulated brokers carry elevated risks, including potential difficulties with fund segregation and trade execution disputes. The FXCanary Scam Risk Score of 44/100 (Guarded) reflects these concerns.

Account Types and Funding

Public information about account types, minimum deposits, and funding methods is limited. The broker’s official website may contain details, but independently verified data is unavailable.

Prospective traders are advised to review the broker’s terms and conditions carefully before opening an account.

Conclusion

Open Markets is a newly established broker with a presence in Australia and a selection of popular trading instruments. However, its complete lack of regulatory licensing presents a significant risk factor.

Traders considering Open Markets should conduct thorough due diligence and consider the implications of trading with an unregulated entity.

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