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FXOpen Review
FXOpen is an FCA and CySEC regulated broker founded in 2005, though ASIC cancelled its Australian license in 2024 over staffing and compliance failures.
Min Deposit
$1
Spreads From
0.0 pips on ECN and Raw Spread accounts
Max Leverage
Up to 1:500 outside FCA regulated accounts; 1:30 under the FCA
Platforms
MetaTrader 4, MetaTrader 5
Pros
- FCA authorised in the UK under firm reference number 579202
- Also holds a CySEC license, number 194/13, for the European Union
- Supports MetaTrader 4, MetaTrader 5, and its own TickTrader platform
- Micro account opens with a deposit as low as $1
Cons
- ASIC cancelled its Australian license in September 2024
- ASIC cited a lack of qualified staff and supervisory failures
- The FCA has separately warned about clone sites copying its name
- Leverage up to 1:500 is only available outside FCA regulated accounts
FXOpen has operated since 2005 and now offers forex, crypto, and CFD trading through MetaTrader 4, MetaTrader 5, and its own TickTrader platform. Accounts range from a $1 minimum on the Micro tier up to $100 for ECN, with leverage as high as 1:500 outside the UK.
FXOpen Ltd is authorised by the FCA under firm reference 579202, and Companies House lists the company under number 07273392. A sister company, FXOpen EU Ltd, holds a CySEC license, number 194/13, covering the European Union.
In September 2024, ASIC cancelled the license of FXOpen AU Pty Ltd after finding the firm did not have enough qualified staff to run the business properly and had breached its licensee obligations. FXOpen AU filed an appeal that same month, and the outcome could not be confirmed at the time of writing, so Australian traders should check the current status directly.
Min. Deposit
USD 1
Max Leverage
Up to 1:500 outside FCA regulated accounts; 1:30 under the FCA
Spreads From
0.0 pips on ECN and Raw Spread accounts
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
