FXOpen offers raw ECN pricing and multi-platform access across MetaTrader and TickTrader. Its EU entity is regulated by CySEC; its UK entity has closed all client accounts; and international clients contract with an unregulated entity.
Spreads from
0 pips
Commission
$3.5 per lot per side
Min deposit
$100
Established
2005
Regulated by
CySEC
Written byLaverlane Team·Updated26 Oct 2026
Researched with AI assistance and verified by our editors
Regulation
FXOpen is regulated in the EU, but UK accounts are closed and international clients contract with an unregulated Nevis entity.
FXOpen EU Ltd is authorised by CySEC under licence 194/13. ASIC cancelled the Australian Financial Services (AFS) licence of FXOpen AU Pty Ltd in 2024, and the company applied for a review of that decision on 25 September 2024.
International clients contract with FXOpen Markets Limited, a company registered in Nevis (C 42235) that does not list a financial regulator, so they have no statutory compensation scheme.
Key facts
FXOpen has operated since 2005 as an ECN broker.
Client-facing entity
FXOpen EU Ltd
Regulators
CySEC
Restricted countries
US, BE, CZ, JP
Negative-balance protection
jurisdiction-only
Minimum deposit
$100
Max leverage (EU Retail)
1:30
Max leverage (offshore entity)
1:500
Max leverage (professional)
1:500
Typical EUR/USD spread
0.1 pips
Platforms
MT4, MT5, Proprietary
Account currencies
USD, EUR, GBP, AUD
FXOpen began brokerage services in 2005 after starting as an educational centre, and operates entities in the European Union, the United Kingdom and Nevis. Its UK operation has since closed all client accounts, and protections depend on which entity a client contracts with.
Best for
Pros & cons
Fund safety
Client money protection depends on the contracting entity.
FXOpen states that EU clients have segregated client money held at a Cyprus bank and Investor Compensation Fund cover of up to €20,000. For FXOpen Markets Limited, it states that there is no client money protection, no negative balance protection and no compensation scheme.
That means you'd be relying on the company's own solvency rather than any statutory protection.
Account terms
Account terms include margin close-out controls and escalating inactivity fees.
ECN accounts trigger a margin call (a warning that your funds are running low) below a 100% margin level, and stop out positions (the broker closes your trades automatically) below 50%. Accounts with no trades or funding movements for 90 days are charged $10 per month, rising to $100 per month after 365 days of inactivity, and reactivating an account costs a one-off $50. The steep inactivity fees are the main reason this section doesn't score higher.
Islamic swap-free accounts are available on request, with an overnight commission charged instead of swap.
Costs
Trading costs centre on raw variable spreads plus a tiered per-lot commission.
The ECN account quotes raw spreads from 0.0 pips, with live EUR/USD at around 0.1 pips on the markets page. FX commission starts at $3.50 per side per standard lot for balances below $1,000 and falls to $1.50 above $250,000.
Index CFDs carry no commission, and share and crypto CFD commissions are charged as a percentage of trade value. Its pricing page lists commodity CFD commission per lot, while its accounts page shows a percentage, so check the current rate before you trade.
| Instrument | Asset class | Typical spread | Unit |
|---|---|---|---|
| EUR/USD | Forex CFD | 0.1 | pips |
| GBP/USD | Forex CFD | 0.2 | pips |
| USD/JPY | Forex CFD | 0.2 | pips |
| XAU/USD (Gold) | Commodity CFD | 0.25 | $ / oz |
| US Crude Oil | Commodity CFD | 0.03 | $ / bbl |
| BTC/USD | Crypto CFD | 48 | $ |
Spreads shown are typical, not guaranteed, and widen during volatile sessions or outside main market hours. Figures reflect the broker's standard retail account.
Markets
Asset coverage spans forex, indices, commodities, shares, ETFs and crypto CFDs.
Forex CFD
50 pairs
Index CFD
Commodity CFD
Metals, energies, softs
Single-Stock CFD
Crypto CFD
Available ✓ · Weekend trading ✓
Real ownership: Stocks / ETFs
N/A for this broker, CFDs only
FXOpen offers more than 700 instruments across five asset classes, including over 50 forex pairs, index, commodity, US share and ETF CFDs, and crypto CFDs that trade around the clock. Share and ETF leverage is limited to 1:5.
UK retail clients cannot trade crypto CFDs, which are restricted to professional clients.
Platforms
Platform options include MetaTrader 4, MetaTrader 5 and the proprietary TickTrader.
FXOpen supports MetaTrader 4 and MetaTrader 5, both with Expert Advisor support, alongside its own TickTrader platform on desktop, web and mobile. TickTrader adds API access through FIX, REST and WebSockets.
You can pick whichever platform suits you, whether you build Expert Advisors (EAs) or trade manually.
Execution
Orders route through an ECN model without dealing desk intervention.
FXOpen states it connects traders directly to banks and liquidity providers with no dealing desk intervention. Direct market execution benefits scalpers but exposes orders to variable market slippage, and the broker does not publish execution statistics.
We haven't scored execution higher on transparency because FXOpen doesn't publish execution statistics or its approach to partial fills and requotes.
Leverage
Leverage follows each entity’s rules, up to 1:500 for international clients.
EU retail clients are limited to 1:30, with up to 1:500 for professional clients. International ECN accounts are listed at up to 1:500 for balances up to $25,000, falling to 1:200 and 1:100 as balances grow. The broker has also announced up to 1:1000 on TickTrader for forex and metal CFDs, so confirm the current limit with it before you trade.
High leverage greatly increases the risk of losses beyond a trader’s deposit. We haven't scored leverage controls higher because international clients don't get negative balance protection.
Account types
FXOpen offers an ECN account with commission tiers based on balance and traded volume.
| Account | Min deposit | Commission | Swap | Spread | Demo | Islamic |
|---|---|---|---|---|---|---|
| ECN | $100 | $3.5 per lot per side | Standard swap rates apply | From 0 pips · Variable | Yes | Yes |
The ECN account requires a $100 minimum deposit for international clients and uses raw spreads plus commission that falls with higher balances or volume. UK and EU clients have a higher minimum deposit of around 300 in their account currency.
Percentage allocation management module (PAMM) accounts are also available through a separate PAMM site.
Funding
Funding options for international clients are limited and often carry fees.
Funding methods and fees vary by entity and method, so check the MyFXOpen area for current charges before you deposit.
Withdrawal forms received before 12:00 GMT are processed on the same business day, and third-party payments are not accepted.
Support
Live chat runs 24 hours a day, five days a week.
FXOpen provides live chat 24/5, ticket support from 7am Monday to 4pm Friday GMT and a trading desk by email and phone from Sunday night to Friday night. The international website is available in English, Portuguese, Spanish, Russian, Arabic, Chinese, Indonesian and Thai.
Support is closed at weekends, so the score reflects 24/5 coverage rather than round-the-clock help.
Availability
Service availability depends on regional entity licensing and local restrictions.
FXOpen does not provide services to residents of the United States, and its websites are not intended for residents of Belgium, the Czech Republic or Japan. UK accounts are closed, EU residents are served by FXOpen EU Ltd, and other clients are routed to FXOpen Markets Limited.
Check which entity your account would sit with before you register. If FXOpen Markets Limited isn't licensed in your country, you'd be sending money abroad to a provider your local regulator doesn't supervise, so you may have no local complaints or compensation route. Check the rules where you live first.
Verdict
FXOpen offers a competitive raw-spread ECN environment for currency traders, with MT4, MT5 and TickTrader platforms and FIX API access. EU clients deal with a CySEC-regulated entity, but FXOpen UK has closed all client accounts, ASIC cancelled the licence of FXOpen AU in 2024, and international clients contract with FXOpen Markets Limited in Nevis, which has no regulator, negative balance protection or compensation scheme. Inactivity fees and fee-bearing funding methods mean the offering suits active currency traders more than occasional ones.
It's right for you if you want direct ECN execution, sub-pip currency spreads and API or platform integration for automated strategies.
If you trade currencies in high volume, scalp the news or build Expert Advisors, and you want raw spreads and deep liquidity, the broker is worth a look.
FAQ
FXOpen operates through group entities including FXOpen Ltd in the United Kingdom, FXOpen EU Ltd in Cyprus and FXOpen Markets Limited in Nevis. The UK entity has closed all client accounts, and clients outside the EU are routed to FXOpen Markets Limited.
Trading on FXOpen begins by registering an online account and selecting an ECN account. Account verification requires identification documents before funding through cards or bank wire. Live execution is available on MetaTrader 4, MetaTrader 5 and TickTrader.
FXOpen MT4 operates by connecting downloaded terminal software to live ECN servers using assigned trading account details. Login credentials are created via the FXOpen client portal for live or demo accounts. Desktop, web, and mobile terminals support custom indicators and Expert Advisors.
FXOpen processes withdrawal forms received before 12:00 GMT on the same business day, and later requests the next business day. Some methods carry fees, so check the MyFXOpen area for current charges, and times can be longer in unforeseen circumstances.
FXOpen EU Ltd is regulated by CySEC and is a member of the Investor Compensation Fund, which covers up to €20,000. FXOpen UK has closed all client accounts, ASIC cancelled the licence of FXOpen AU in 2024, and international clients contract with FXOpen Markets Limited in Nevis, which has no regulator, negative balance protection, client money protection or compensation scheme.
Alternatives
Eightcap offers CFDs on 850+ markets through TradingView, MetaTrader 4, MetaTrader 5 and TradeLocker, with a Raw account that starts from 0.0 pips. Clients outside the regulated regions contract with Eightcap Global Limited in The Bahamas, which carries no statutory compensation scheme.
Octa offers swap-free forex and CFD trading on OctaTrader, MetaTrader 4 and MetaTrader 5, with no trading commission and a $25 minimum deposit. Accounts on octabroker.com are with Versustrategy Inc, registered in Saint Lucia, and the legal documents page lists no financial regulator.
JustMarkets offers leverage of up to 1:3000, swap-free trading and MT4, MT5 and its own app, but international clients contract with an offshore Seychelles entity without a statutory compensation scheme.
FXCM offers forex and CFD trading on Trading Station, MetaTrader 4 (MT4) and TradingView. Accounts on the international website are with Stratos Global LLC, an offshore entity in St Vincent and the Grenadines that sits outside the group’s regulated companies.
ThinkMarkets offers ThinkTrader, TradingView, MT4 and MT5 with 4,000+ instruments and leverage of up to 1:500 on Standard and ThinkZero accounts. International clients contract with a Seychelles-licensed entity.
IronFX operates as a retail CFD broker providing high leverage up to 1:1000 on MetaTrader 4, but international clients contract through an offshore entity without statutory compensation protection.
CFI Financial offers MT5, TradingView and its own app with no minimum deposit and leverage of up to 1:500. International clients trade with CFI International Ltd, licensed in Mauritius.
EC Markets offers MT4, MT5 and its own app with a $10 minimum deposit on STD and ECN accounts and leverage of up to 1:1000. International clients trade with the Mauritius-licensed entity.
General CFD risk warning
CFDs are complex leveraged products and carry a high risk of rapid losses. They do not give you ownership of the underlying asset. Depending on your jurisdiction, broker entity and client classification, protections such as leverage limits and negative-balance protection may differ or may not apply. Where negative-balance protection is not provided, losses may exceed the funds you deposit. You should consider whether you understand how CFDs work and whether you can afford the high risk of losing your money.
Disclaimer
This page is provided for general information only. Nothing on this page constitutes investment, tax or trading advice, or a recommendation to open an account or trade with a particular broker. Laverlane does not provide personalised investment advice. We are not a broker or financial institution, we do not arrange or execute trades, and we do not hold client funds.
Broker availability, spreads, fees, leverage, products and legal protections, including compensation schemes and negative-balance protection, vary by the broker’s legal entity, your country of residence and your client classification, and may change over time. Where a broker is required to publish its retail CFD loss rate, that figure is shown on its review page. Spreads shown are typical figures as at our verification date; they are not guaranteed and may widen, particularly during volatile market conditions.
Laverlane Scores reflect the information available at our most recent review. They are editorial assessments, not guarantees of a broker’s financial strength, reliability or future performance. Where we report a regulator warning or enforcement notice, it reflects the official public information available at the time of our review.
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