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FXOpen broker has been around the market for 22 years with 200,000 active accounts & 4 million clients in Forex/CFD. But I got shocked when I saw a review saying ‘FXOpen broker isn’t trusted because it isn’t regulated by top-tier’.
I mean it trust score of 89 out of 99. Then why are people raising questions about it? Well, the thing is, FXOpen is regulated, but it depends on which branch you sign up with.
FXOpen UK is under the FCA, and FXOpen EU is under CySEC; both are solid, top-tier regulators. But they also have an offshore branch in Nevis that isn’t regulated by any strict financial authority.
Also, another red flag is that FXOpen doesn’t accept U.S. clients because back in January 26, 2011, the CFTC sued them for illegally offering forex trading to U.S. residents without being properly registered.
That’s where most of the negative reviews originate. So yes, FXOpen can be trusted. But only if you go with their UK or EU entities, not the offshore one.
Still, I tried FXOpen UK broker and found both good and bad things about it. Let’s walk you through that.
| Accounts | Currencies | Min. Deposit | Leverage | Starting Spreads | Demo Account | Rollover Free | Commission | Max. Lot Size | Min. Lot Size |
|---|---|---|---|---|---|---|---|---|---|
| PAMM ECN Account | USD, AUD, CHF, EUR, GBP, JPY, RUB | $1000 | 1:100 | 0.0 pips | Yes | Yes | Yes | Not specified | 0.01 lots |
| Demo Account | Virtual | $0 | 1:500 | 0.0 pips | - | Yes | No | 100 lots | 0.01 lots |
| Basic ECN | USD, AUD, CHF, EUR, GBP, JPY, RUB | $100 | 1:500 | 0.0 pips | Yes | Yes | $3.50 | Not specified | 0.01 lots |
| Classic ECN | USD, AUD, CHF, EUR, GBP, JPY, RUB | $100 | 1:500 | 0.0 pips | Yes | Yes | $2.50 | Not specified | 0.01 lots |
| Advanced ECN | USD, AUD, CHF, EUR, GBP, JPY, RUB | $100 | 1:500 | 0.0 pips | Yes | Yes | $1.80 | Not specified | 0.01 lots |
| Elite ECN | USD, AUD, CHF, EUR, GBP, JPY, RUB | $100 | 1:500 | 0.0 pips | Yes | Yes | $1.50 | Not specified | 0.01 lots |
| Micro Account | USD, EUR, GBP | $1 | 1:500 | 1.0 pips | Yes | Yes | No | 1000 lots | 0.01 lots |
| Crypto Account | USD | $$10 | 1:3 | 0.0 pips | Yes | No | Yes | 100 lots | 0.01 lots |
| Broker Type | Minimum Deposit | Forex Majors Spread | Maximum Leverage | Min. Trade Size | Scalping | Hedging | Free Demo | USA Traders |
|---|---|---|---|---|---|---|---|---|
| ECN, CFD, Forex | $100 | 0.0 pips | 1:500 | 0.01 lots | Yes | Yes | Yes | No |
The account settings on the FXOpen broker are quite interesting. With FXOpen, you receive a single main account and can open up to 10 trading accounts per account type. That means you can have 10 of each account type and explore all the markets.
And to do that, FXOpen Broker offers 5 types of accounts.
Besides the basic accounts, FXOpen also has different ECN account types. As in-
These accounts are especially perfect for high-volume traders. It gives you access to over 700 markets across 5 asset classes all in one place, without juggling multiple accounts.
Also, trading hours are super flexible. You can trade 22:00 Sun to 22:00 Fri (GMT) for regular markets and 24/7 for cryptocurrency CFDs.
So there’s literally never a dull moment. You can trade whenever it fits your schedule. Not just that, those accounts are filled with features. Have a look:
| Feature | Basic ECN | Classic ECN | Advanced ECN | Elite ECN |
|---|---|---|---|---|
| Deposit | From $100 | From $1,000 | $25,000 – $250,000 | Over $250,000 |
| FX Traded Volume | $5M – $25M | $25M – $250M | > $250M | |
| Spreads | Floating, from 0.0 pips | Floating, from 0.0 pips | Floating, from 0.0 pips | Floating, from 0.0 pips |
| FX Commission | $3.50 | $2.50 | $1.80 | $1.50 |
| Crypto CFD Commission | From 0.08% | From 0.08% | From 0.05% | From 0.03% |
| Index CFD Commission | 0% | 0% | 0% | 0% |
| Commodity CFD Commission | 0.01% | 0.00% | 0.00% | 0.00% |
| Shares CFD Commission | 0.10% | 0.10% | 0.10% | 0.10% |
| Disclaimer: Islamic (swap-free) accounts are available upon request for ECN. As of December 20, 2024, FXOpen has discontinued its STP accounts. They now focus mainly on ECN accounts as their core offering for traders. |
FXOpen broker has 4 types of trading platforms, like:
Each of them comes with different features, and honestly, each of them stands out differently. But with strong in their own way. I tried all of them and here is what I found.
TickTrader honestly feels like it was built by real traders. It’s highly customizable. I’ve set up my workspace exactly how I like it, from charts to alerts. The platform provides access to multiple markets (forex, crypto, stocks, etc.) all in one place, which is a significant advantage.
One standout feature is the Level 2 market depth. It’s like being able to see up to 200 pricing levels, and my own limit orders in the order book are something I never got with MetaTrader.
I also love the API support (REST/WebSocket), which lets me run my own algorithm strategies. A few features that really impressed me is,
If there’s a downside, it’s that the platform can initially feel somewhat complex. There’s a lot to explore. But once I got used to it, TickTrader became one of the most powerful platforms I’ve used.
The FXOpen integration was seamless. I connected my account in just a few clicks and started trading directly from the charts. The platform is fast, clean, and packed with features that make technical analysis not just easier, but way more accurate.
What I found most helpful is having everything in one place: custom and standard indicators, screeners, news, and alerts. I no longer need to jump between platforms or tools. It’s all there.
If you’re into clean, functional design and powerful charting, TradingView + FXOpen broker is a combo I’d easily recommend.
MT4 has always been my favorite platform in forex trading. It’s simple, reliable, and gets the job done. When I started using it through FXOpen, the experience felt even smoother.
What really stood out was the ease of automation & Micro-lot trading (0.01) helps with risk control. I’ve used a few ready made Expert Advisors, and the setup was quick.
There’s also room to create your own scripts if you’re into that. The platform is highly customizable, too
The only downside?
MT4 is somewhat dated in design compared to platforms like TradingView. It doesn’t have the most modern look. But in terms of functionality, it still delivers, especially for someone who prefers a no-frills, performance-first trading setup.
I appreciated being able to trade forex, commodities, indices, shares, and crypto CFDs all from the same interface. Everything's streamlined, and the depth of market (DOM) view with Level 2 pricing gave me deeper insights than I ever got on MT4.
The platform also runs smoothly on both desktop and mobile, so I never feel stuck to my computer.
The only real drawback?
It’s heavier on system resources than MT4. If your PC isn’t strong or your internet is patchy. You may notice a slight lag, especially when using multiple indicators simultaneously.
FXOpen provides multiple account types, each with its own fee structure. ECN accounts start with a $1.50 commission per lot, while STP accounts (now discontinued) had zero commissions. Crypto accounts charge a 0.5% half-turn commission. High-volume traders may get discounted rates.
FXOpen lets you fund accounts directly in cryptocurrencies like BTC, ETH, LTC, and USDT, not just trade crypto CFDs. Your balance is fully denominated in crypto, which is pretty rare among brokers.
Their ECN account features a tiered commission structure with four levels from Basic to Elite. It's like rewarding active traders with lower fees based on volume or balance.
Other key highlights include:
All those things make this broker a perfect choice for all kinds of traders.
So, FXOpen is a bit of a mixed bag when it comes to regulation. They actually operate under different legal entities, depending on the location. Different entities have different things of regulations. For example, if you sign up with FXOpen UK, they’re regulated by,
Now, here’s where it gets tricky.
FXOpen also has an entity registered offshore in Nevis, which is unregulated by any government body. This branch doesn’t offer the same kind of protection or oversight.
As a result, many review sites and traders caution against using the Nevis entity. It’s like the wild west. Not inherently shady, but definitely riskier.
Additionally, there was an Australian branch regulated by ASIC, but its license was canceled in 2024. Therefore, FXOpen no longer operates under ASIC. However, despite the shady legal aspects, this broker is a dominant presence in the UK trading market.
| Supported Languages | English, Arabic, Russian, Chinese, Spanish, more |
| Customer Service By | Live Chat, Support Ticket, Phone |
| Service Hours | 24/5 |
| Email Response | [email protected] |
| One Click Trading | Yes |
| Stop Order | Yes |
| Limit Order | Yes |
| Trade off Charts | Yes |
| Market Order | Yes |
| 24hr Trading | No |
| Email Alerts | Yes |
| Trailing Stop Order | Yes |
| Charting Package | Yes |
| Mobile Alerts | Yes |
| OCO Orders | Yes |
| Streaming News Feed | Yes |
FXOpen supports 3 deposit methods, including
E-wallets and prepaid cards usually offer instant deposits. For withdrawals, you can use-
Available options may vary based on your region and account type.
The minimum deposit at FXOpen varies depending on the account type. ECN accounts typically require a minimum deposit of $100.
There are also mentions of a $1 minimum deposit. But this likely refers to outdated information or specific payment methods. It's best to check FXOpen’s official site for the most up to date details before making a deposit.
The minimum withdrawal amount varies depending on the payment method you select. For instance, international bank transfers require at least 30 USD or 25 EUR. Withdrawals to a Visa card start at 10 USD. Some options, like the FXOpen Prepaid Card, let you withdraw as little as 1 USD.
Always check the specific limits for your chosen method before requesting a withdrawal.
I’ve been using FXOpen broker for 6 months, mainly trading through their ECN account. What I really like is how tight the spreads get during peak hours. Sometimes as low as 0.0 pips.
Additionally, having the option to fund my account directly in cryptocurrency (such as USDT and BTC) is a significant advantage for me. It’s convenient and keeps things fast.
That said, I’m not a fan of the interface on their TickTrader platform.
It’s powerful, sure, but the learning curve was steeper than I expected. Also, while most deposit methods are instant, withdrawals sometimes feel slower than they should be, especially if you’re using bank transfers.
Still, for low fees, deep liquidity, and crypto funding flexibility, FXOpen has been a solid pick overall.
Our User Reviews Section is a great way to learn more about our brokers and services from people who have already used them. We encourage our customers to leave honest feedback about their experiences, so that you can make an informed decision about whether or not to purchase from us.
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