Checking if FXOpen is a legit broker? FXOpen scam or safe? The spread is high or low? How to deposit or withdraw funds?
We provide answers to all the questions in this FXOpen Review.
We check FXOpen licenses and regulation status. Compared FXOpen fees like spread & commission from its live account to other 150 brokers. The time for deposit & withdrawal and many more findings you can get in this Review.
What is FXOpen
FXOpen is a global CFD and Forex broker, established in 2005.
The broker offering global ECN trading environment and is regulated by top-tier regulation from UKβs FCA, and Australian ASIC, also by CySEC in Cyprus.
FXOpen Highlights
πΊοΈ Regulated in | UK, Australia, Cyprus, Nevis |
π‘οΈ Is FXOpen safe to trade | Yes |
π΅ EUR/USD spread | 0.3 pips |
π¦ Deposit | Bank Transfer, Cards |
π° Minimum deposit | US$300 for UK and Europe |
π¦ Withdrawal | Bank Transfer, Cards |
π» Trading platform | MT4, MT5 |
π³ Trading markets | Forex and CFDs on Commodities, cryptocurrencies, indices, stocks, Spread Betting |
π Number of product | 120+ |
π Live chat response | Relevant answers |
Regulation
License and regulation are the keys to trading security. We check two points the brokerβs background with its licenses, and how trader is protected if something goes wrong.
Is FXOpen legit
FXOpen is fully regulated in each region it operates, firstly company was established in Nevis, that in fact lack serious regulation. And since 2013 opened UK entity under the license of the top-tier UK Financial Conduct Authority (FCA), also later maintained FXOpen Australia under ASIC regulations and CySEC regulated entity in Cyprus.
FXOpen Licenses and Regulatory status
Entity | Registered in | Regulator | License no. | Status |
FXOpen Ltd | United Kingdom | Financial Conduct Authority (FCA) | 579202 | Currently Regulated |
FXOpen AU Pty Ltd | Australia | Australian Securities & Investments Commission (ASIC) | AFSL 412871 β ABN 61 143 678 719 | Currently Regulated |
FXOpen EU | Cyprus | Cyprus Securities and Exchange Commission (CySEC) | 194/13 | Currently Regulated |
FXOpen Markets Limited | Nevis | β | No. C 42235 | Registered |

Is FXOpen safe
We consider FXOpen safe because it is regulated by top-tier regulation. FXOpen is audited by top-tier FCA that provides highest levels of protection and controls, also Australian ASIC has good layers of security over regulated firms.
However, each entity has differences between regulations, customer protection and compensation fund.
FXOpen Compensation Scheme
Entity | Compensation Amount | Negative Balance Protection |
FXOpen Ltd | Β£85,000 | Yes |
FXOpen AU Pty Ltd | No Compensation | Yes |
FXOpen EU | EUR20,000 | Yes |
FXOpen Markets Limited | No Compensation | No |
We recommend registering your account with FCA regulated entity or ASIC entity and avoid Nevis subsidiary
FXOpen applies negative balance protection for all retail trader accounts, however regulations in Nevis do not demand this rule so protection is not guaranteed.
Markets and Products
There is a good range of trading products at FXOpen, including Forex and CFDs on Commodities, Indices, Stocks and Cryptocurrencies.
The main focus is on Forex and Cryptos, while other instruments are rather basic offering, besides instrument range is different in each subsidiary, also depending on the account type you use.
Markets | Instruments |
Forex | 50 |
Indices | 10 |
Commodities | 5 |
Cryptocurrencies | 40 |
Shares | 10 |
Account types
FXOpen has different account in each subsidiary. There are two main accounts ECN Account and STP Account that differ in fees and minimum deposit. Plus Australian entity has separate Crypto Account and international entity has additional Micro account.
ECN
ECN account is the most popular choice among traders with true ECN trading environment based on commission charges and raw spreads.
Login
You can login FXOpen from the official website, there are four domains including EU, UK, AU and FxOpen international entity domains.

Fees and commissions
FXOpen fee levels we ranked as low for Forex and other instruments based on the instrument and compare to 150 brokers that we check through Live account spread.
Spread for popular instruments we collect for 6 markets and 150 brokers
Markets | Instruments | Low | Average | High |
Forex | EUR/USD | 0.1-0.9 | 1-1.5 | 1.6 or higher |
Indices | US 500 | 0.1-0.4 | 0.5-1.4 | 1.5 or higher |
Commodities | Gold | 0.1-0.4 | 0.5-2 | 2.1 or higher |
Stocks | Tesla | 0.1-0.5 | 0.6-1 | 1.1 or higher |
ETFs | US Russell 2000 | 0.1-0.4 | 0.5-1.4 | 1.5 or higher |
Cryptocurrencies | Bitcoin | 0.1-0.5% | 0.6-0.9% | 1% or higher |
Spreads
FXOpen fees are different in each account type.
ECN Accounts are offered with raw spread from 0 pips and commission based on account balance starting from 3.50$ per lot for Forex, and lowering up to 1.50$ which is considered low among industry.
Comparing the spreads derived from Live STP Account to industry benchmarks, where all fees are in spread we rank FXOpen Live Spread low for Forex and average for Stocks and Indices.
Also, spreads are slightly different in each entity and some conditions may apply.
Markets | Instruments | STP Account | Other brokersβ avg spread |
Forex | EUR/USD | 0.3 | 1-1.5 |
Indices | US S&P500 | 0.8 | 0.5-1.4 |
Commodities | Gold | 0.22 | 0.5-2 |
Stocks | Tesla | 2.37 | 0.6-1 |
ETFs | US Russell2000 | β | 0.5-1.4 |
Cryptocurrencies | Bitcoin | 154.364 | 0.6-0.9% |
Other Fees
FXOpen non-trading fees are average. There is no fee for deposits but withdrawals adds on fee, also broker will charge an inactivity fee.
Trading Conditions
FXOpen trading conditions are good all trading strategies scalping and hedging are allowed.
Trading Conditions | Yes/No |
Hedging Allowed | Yes |
Scalping Allowed | Yes |
Change Leverage Allowed | Yes |
Hedging is allowed with no restrictions on positions.
Scalping strategy is also available, Expert Advisors (EAs) and Free VPS service is available for traders, but not for international traders.
Leverage
Leverage and the change of leverage ratios are different in each entity according to regulation. The maximum level is 1:400 for Australian and 1:30 European traders on Forex.
Deposit
FXOpen has no deposit fees, the methods are different according to entity regulations. Typically you can use Bank Transfer, Credit or Debit cards, e-wallets and more methods including Bitcoin and other options are available only for international traders
Deposit Method | Funding Time | Fee |
Bank Transfer | Within few days | Free |
Credit Card | Instant | Free |
Minimum Deposit
Likewise, the Minimum deposit is set in each jurisdiction and entity rules individually. EU and UK traders can open STP or ECN account with 300$, Australian with 200$ and international entity starting from 1$.
Withdrawal
FXOpen withdrawal fees are different in each subsidiary.
European clients can only use bank wire and cards for withdrawal, and Australian can use extra methods like WebMoney, see snapshot below. And numerous other ways including e-wallets and Cryptocurrencies for international clients.
FXOpen confirm and process withdrawal requests within 48h plus additional days for payment provider processing.
Withdrawal Method | Withdrawal Time | Fee |
Bank Wire | 1-3 business days | 15 GBP / 15 EUR / 30 USD |
Credit Card | 2-5 business days | 15 GBP / 15 EUR / 30 USD |

Bonus
Bonuses, cashback programs, no deposit bonuses or contests are solely available through international offshore Nevis. Other entities of FXOpen restrict any bonuses or promotions due to regulations.

Trading Platform
FXOpen has different platforms depending on the entity. EU, UK and Australia entities offer MetaTrader technology for both MT4 and MT5 platforms. The international proposal mainstays on proprietary TickTrader.
MT4
You can select between MT4 and newer MT5 platforms and use them on any device including desktop Windows or Mac, App or Web version across all range of instruments.

Research and Tools
Research at FXOPEN is good.
Research and tools mainly inbuilt into the platforms including technical analysis tools, News feed and trading insights, plus you can find Economic Calendar and PAMM proposal for international subsidiary.
From downsides technical analysis, fundamental data from leading providers are not provided.
FXOpen Research tools available on:
- FXOpen Platforms
- Resources section on website

Education
FXOpen does not provide deep educational materials essential for beginners like Webinars, Courses or education videos.
You can only access trading tools, auto-trade and analysis inbuilt in platforms.
At FXOpen you can learn:
- Demo account
- Help Center articles
Customer Service
FXOPEN customer supported is good. Customer service agents are helpful, we got relevant answer via email.
From the downsides there is no Live Chat.
FXOpen Customer Service supports:
- Phone lines and Call back

FXOpen email response is quick speed, the agents are helpful
Question Asked | We ask about Crypto trading. |
Time of Reply | We sent and email and got answer within a day |
Quality of Reply | The answer was informative, referring to restriction for UK Crypto trading. |
Conclusion
FXOpen considered a safe broker, it is regulated by top-tier authorities FCA in the UK and ASIC. FXOpen operates four entities ad is legal in each jurisdiction, however we recommend not to trade with international entity due to lack of serious regulations.
FXOpen trading proposal is good quality with very low fees, from the cons there is no deep education, and conditions re different in each subsidiary so be sure to check correct proposal.
We recommend FXOpen for traders with experience who prefere to use MetaTrader as platform and get low spreads with ECN or STP execution
Author of this review

By Jimmy O'Brien
Author of this review
Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. Now he and his team focus researching and comparing brokerβs pros and cons.
Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. Now he and his team focus researching and comparing brokerβs pros and cons.