FXOpen Review

Experienced ECN and forex traders

FCA CySEC

Founded 2005 · United Kingdom

Why investors choose this broker

ECN execution with raw spreads from 0.0 pips
Commission from $1.50 per lot on ECN accounts
Four trading platforms including MT4, MT5, TickTrader and TradingView
FCA and CySEC regulated entities

Review summary

FXOpen is an ECN forex and CFD broker founded in 2005, offering raw spreads from 0.0 pips across forex, indices, stocks, ETFs and crypto via MT4, MT5, TickTrader and TradingView.

Pros

ECN execution with raw spreads from 0.0 pips
Commission from $1.50 per lot on ECN accounts
Four trading platforms including MT4, MT5, TickTrader and TradingView
FCA and CySEC regulated entities
Demo account with up to $5,000,000 virtual funds
700+ tradable instruments across forex, indices, stocks, ETFs and crypto
Free VPS for eligible high-volume clients
PAMM and copy trading available

Cons

Inactivity fee of $10 per month after 90 days
ASIC license cancelled in September 2024 due to serious regulatory concerns
Minimal educational content compared to larger brokers
Limited research tools and market analysis
Demo account on TradingView not available
Wire withdrawal fees apply on some entities
Fewer stocks and commodities than some competitors

Company background

FXOpen was founded in 2005 and describes its origins as being founded by traders, for traders. The company operates through FXOpen Ltd, authorised by the FCA in the UK (license #579202), and FXOpen EU Ltd, authorised by CySEC in Cyprus (license #194/13). FXOpen Markets Limited is registered in Nevis and is a member of The Financial Commission. FXOpen positions itself as a true ECN broker offering direct access to interbank liquidity. The broker serves over one million clients and provides access to more than 700 tradable instruments across forex, indices, stocks, ETFs and cryptocurrencies.

Fees and pricing

ECN accounts carry a commission starting from $1.50 per lot, tiered by account balance up to $3.50 per lot. In return, raw spreads start from 0.0 pips, with EUR/USD typically around 0.2 pips. Crypto CFD positions carry a fixed 0.5% commission per side. Index CFDs are traded commission-free with spreads applying. FXOpen does not charge a deposit fee for card transactions. Withdrawal fees on cards are free for EU and UK entity clients; wire transfer withdrawals from the EU entity carry a fee of 15 EUR, 15 GBP or 30 USD. An inactivity fee of $10 per month applies after 90 consecutive days without trading activity. No account opening or monthly management fee applies.

Regulation and safety

FXOpen Ltd is authorised and regulated by the FCA in the UK (reference #579202), giving UK clients access to the Financial Services Compensation Scheme (FSCS) up to GBP 85,000. FXOpen EU Ltd is authorised by CySEC under license #194/13, providing EU clients access to the Investor Compensation Scheme up to EUR 20,000. FXOpen Markets Limited in Nevis is a member of The Financial Commission but does not carry the same investor protection as the EU or UK entities. FXOpen Australia held an ASIC licence (AFSL 412871) that was cancelled in September 2024 due to serious regulatory concerns. FXOpen states that client funds are held in segregated accounts at tier-1 banks.

Platform experience

FXOpen supports MetaTrader 4, MetaTrader 5, the proprietary TickTrader platform and TradingView. MT4 and MT5 are available as desktop applications, web platforms and mobile apps for iOS and Android. TickTrader is available on desktop (Windows), browser and mobile, and provides over 1,200 trading tools, Level 2 pricing, advanced order types and FIX API access. TradingView integration was added in 2022 but does not support demo accounts. A demo account with up to $5,000,000 in virtual funds is available on MT4, MT5 and TickTrader with no set expiry unless inactive for 90 or more days. A free VPS service is available for eligible clients.

Pros and cons

FXOpen offers ECN execution with raw spreads from 0.0 pips, four trading platforms, FCA and CySEC regulation, and over 700 instruments. PAMM and copy trading tools are also available. The main drawbacks are the $10 per month inactivity fee, the cancellation of its ASIC licence in 2024, limited educational and research content, and wire withdrawal fees on certain entities.

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Your capital is at risk. Other fees apply.

Trading fees & commissions

ECN accounts charge commission from $1.50 per lot with raw spreads from 0.0 pips; crypto CFDs carry a 0.5% commission per side. An inactivity fee of $10 per month applies after 90 days without trading activity.

Fees

Item	Fee
Cfds	Indices and commodities: no additional commission on most CFD instruments; spreads apply
Crypto	0.5% commission per side on crypto CFD positions
Margin	Overnight swap fees apply to leveraged positions held past daily rollover
Account	No account opening or monthly management fee
Deposit	No deposit fee for cards; online banking fees vary by entity and payment method
Inactivity	$10 per month after 90 days of no trading activity
Withdrawal	Card withdrawals: Free (EU/UK entities); wire transfer: 15 EUR / 15 GBP / 30 USD (EU entity); fees vary by method and entity

Trading platform & features

Platforms

MetaTrader 4
MetaTrader 5
TickTrader
TradingView
Web app
iOS app
Android app

Regulation and investor protection

FXOpen operates through entities authorised by the FCA in the UK (FXOpen Ltd, #579202) and CySEC in Cyprus (FXOpen EU Ltd, #194/13). FXOpen Markets Limited is registered in Nevis and is a member of The Financial Commission as an independent dispute resolution body.

Broker FAQs

Is FXOpen safe?

FXOpen Ltd is authorised by the FCA in the UK and FXOpen EU Ltd is authorised by CySEC in Cyprus. FXOpen says it holds client funds in segregated accounts at tier-1 banks, separate from company operating funds.

Is FXOpen a scam?

No. FXOpen operates through entities regulated by the FCA and CySEC. The broker has been active since 2005 and serves over one million clients.

Is FXOpen regulated and by whom?

Yes. FXOpen Ltd is regulated by the FCA in the UK (license #579202) and FXOpen EU Ltd is regulated by CySEC in Cyprus (license #194/13). FXOpen Markets Limited in Nevis is a member of The Financial Commission as an independent dispute resolution body.

Does FXOpen keep client funds in segregated accounts?

FXOpen states that it holds client funds in segregated accounts at tier-1 banks, separate from company operating funds.

What happens to my money if FXOpen goes bankrupt?

UK clients of FXOpen Ltd may be covered by the FSCS up to GBP 85,000 per eligible person. EU clients of FXOpen EU Ltd may be covered by the ICS up to EUR 20,000. Clients of FXOpen Markets Limited in Nevis do not have access to the same investor compensation schemes.

What products does FXOpen offer?

FXOpen offers forex (50+ pairs), CFDs on indices, stocks, ETFs, commodities and cryptocurrencies. The broker provides access to over 700 tradable instruments in total.

Does FXOpen offer forex trading?

Yes. FXOpen offers forex trading on 50+ currency pairs with ECN execution, raw spreads from 0.0 pips and commission from $1.50 per lot.

Does FXOpen offer crypto trading?

Yes. FXOpen offers CFDs on 40+ cryptocurrencies with a 0.5% commission per side.

Does FXOpen offer stock trading?

FXOpen offers CFDs on stocks from major global exchanges. Direct share ownership is not available; positions are executed as CFDs.

What does FXOpen charge for forex trades?

ECN accounts charge a commission starting from $1.50 per lot, tiered by account balance up to $3.50 per lot. Raw spreads start from 0.0 pips, with EUR/USD typically around 0.2 pips.

What does FXOpen charge for crypto?

FXOpen charges a fixed 0.5% commission per side on crypto CFD positions.

Is there a withdrawal fee at FXOpen?

Card withdrawals are free for EU and UK entity clients. Wire transfer withdrawals from the FXOpen EU entity carry a fee of 15 EUR, 15 GBP or 30 USD depending on currency. Fees vary by entity and payment method.

Does FXOpen charge an inactivity fee?

Yes. FXOpen charges $10 per month after 90 consecutive days without trading activity on an account.

Does FXOpen have a demo account?

Yes. FXOpen offers a demo account on MT4, MT5 and TickTrader with up to $5,000,000 in virtual funds. The demo remains active unless the account is inactive for 90 or more days.

Does FXOpen have a mobile app?

Yes. FXOpen provides iOS and Android apps for MetaTrader 4, MetaTrader 5 and TickTrader.

Is FXOpen good for beginners?

FXOpen provides a demo account and access to multiple platforms, but its educational content and research tools are limited compared to many larger brokers. The ECN model and focus on raw spreads and commissions are better suited to traders with prior experience.

Is FXOpen good for long-term investing?

FXOpen is primarily a forex and CFD broker. CFD positions incur overnight swap fees when held past daily rollover, making long-term buy-and-hold investing through CFDs more costly than direct share ownership at a traditional stockbroker.

Bottom line

FXOpen suits users who want ECN execution with raw spreads, multiple professional trading platforms including MT4, MT5, TickTrader and TradingView, and FCA or CySEC regulation. It may not suit users who are beginners seeking structured education, want direct stock ownership rather than CFDs, or need to avoid inactivity fees.

FXOpen

Experienced ECN and forex traders

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Your capital is at risk. Other fees apply.