FXOpen Review 2025

Pros

• FXOpen simplified its account offerings in 2024, offering user-friendly ECN accounts with raw spreads from 0.0 pips, fast execution speeds, and reduced commissions for high-volume traders.
• FXOpen launched TradingView in 2022 and improved its TickTrader platform in 2024. It provides Level 2 pricing, over 1,200 trading tools, and advanced order types, serving experienced and high-frequency traders.
• FXOpen cut FX spreads by over 40% in 2022 and launched commission-free index trading in 2023, making it cost-effective for traders.

Cons

• FXOpen has expanded its asset range, but it still offers fewer global stocks, commodities, and cryptocurrencies than BlackBull, limiting diverse trading opportunities.
• FXOpen offers limited educational resources, missing the courses and webinars available at brokers like IG, which diminishes its attractiveness to beginners looking to learn.
• FXOpen remains a trusted broker authorized by the FCA and CySEC but lost its ASIC license in 2024 due to 'serious concerns.' It no longer accepts Australian traders.

Regulation & Trust

FXOpen has been around since 2005 and operates under different financial regulations, directly impacting its trustworthiness and reliability.

In the UK, the broker is regulated by the Financial Conduct Authority (FCA), which gives confidence and provides strong investor protection.

If the company ever becomes insolvent, the funds of British client are protected up to £85,000 through the Financial Services Compensation Scheme (FSCS).

In Europe, it is authorized by the Cyprus Securities and Exchange Commission (CySEC), which offers similar security, ensuring client funds up to €20,000 through the Investors Compensation Scheme (ICS).

Because of these regulations, the UK and EU branches are in the top trust tier.

FXOpen in Nevis is a different story. While registered by The Financial Commission, it doesn’t offer the same investor protection as the UK and EU branches, placing it in the bottom tier.

The broker also had its Australian Securities & Investments Commission (ASIC) license canceled in 2024 due to ‘serious regulatory concerns‘, which lowered its trust score.

Not every FXOpen entity provides strong investor protection, but negative balance protection is available. This ensures you can’t lose more than your account balance, which is crucial in volatile markets.

Accounts & Banking

Live Accounts

FXOpen makes trading more accessible for different types of traders. Setting up my live account was quick, though initially a bit confusing.

You have to choose between a regular electronic communication network (ECN) or Percentage Allocation Management Module (PAMM) account. There are also options for different currencies and increased leverage of up to 1:1000 since 2023.

However, deciding between a TickTrader, TradingView, or MetaTrader 5 (MT5) account requires choosing between ‘Gross’ or ‘Net’ types. Gross accounts let you hold multiple, even opposing, positions on the same instrument.

To complete the setup, you have to answer CFD-related questions, create a secure password, and verify your contact details.

The ECN account comes with a 0.01 minimum position size (a micro lot), leverage up to 1:100 depending on your status, country, and asset, and floating spreads starting from 0.0 pips, which is excellent for active trading.

The minimum deposit is $100 or the equivalent in another currency. Commission fees vary, with reduced rates starting at $1.50 per lot for balances over $250,000 and up to $3.50 for balances under $1,000.

Margin call and stop-out levels are 100% and 50%, respectively.

If you follow Sharia law, you will appreciate that FXOpen offers swap-free Islamic accounts. Instead of traditional swaps, a commission applies, making it compliant while allowing you to trade effectively.

Demo Accounts

Opening a demo account on MT4, MT5, or TickTrader is easy, though TradingView demos aren’t available.

You can trade with up to $5,000,000 in virtual funds and 1:500 leverage, which gives plenty of room to test strategies.

However, I wish I could choose different base currencies instead of being limited to USD.

Thankfully, the demo account doesn’t expire unless you leave it inactive for 90 days, so you can keep practicing without worrying about losing access.

Deposits & Withdrawals

FXOpen makes funding and withdrawing easy with various options, though availability depends on where you are.

As a European trader, you can use wire transfer, credit card, debit card, Skrill, and Neteller, which is convenient.

However, the offshore entity has fewer choices, like FasaPay, Volet, and cryptocurrencies, which aren’t as practical for me at least.

Transactions are usually quick, but bank transfers can take up to three business days.

Before you can deposit or withdraw, you have to verify your account with an ID, which adds a layer of security.

Some methods, like crypto and Volet, come with fees, which I’d like to see reduced.

More local payment options and fee waivers would also make FXOpen more competitive.

Assets & Markets

FXOpen gives access to a diverse range of tradable assets, which is great for short-term trading strategies.

The options depend on where you are, though. For example, you can’t trade cryptocurrencies in the UK.

You can trade over 50 forex pairs, including major ones like EUR/USD, minor pairs like AUD/NZD, and exotic pairs like USD/MXN.

You only have five choices regarding commodities, including gold, silver, and oil.

You can access over 600 stocks from major US, UK, and Hong Kong exchanges, including companies like Tesla, Diageo, and BYD.

ETFs are available, too, with more than 12 options, including ARK Innovation (ARKK) and the Autonomous Technology & Robotics ETF (ARKQ).

Indices cover over 10 global markets, like the Nasdaq-100 and Nikkei 225. If you want to trade crypto, you have over 25 cryptocurrency pairs, including Bitcoin and Ethereum.

Even with new additions like 19 ETF CFDs in 2023, it would be good to see more global stocks, agricultural commodities, bonds, options, and futures to expand market variety.

One downside is that FXOpen doesn’t offer passive investment options like real stocks or a copy trading service beyond what’s available on MetaTrader.

Platforms like eToro, FXTM, and Pepperstone do a better job in that area, which makes FXOpen less appealing for traders looking for hands-off trading.

Fees & Costs

FXOpen stands out with its ECN accounts, giving direct market access with raw pricing for a small commission.

I notice the competitive edge, especially since forex spreads dropped by over 40% in 2022, making it a great choice for scalpers and day traders.

Account fees depend on balance size, with high-volume traders getting lower commissions.

Forex fees range from $3.50 to $1.50 per lot, while commodity CFD rates favor more significant balances.

You pay a fixed 0.5% commission per side if you trade cryptocurrencies. In 2023, FXOpen made things even better by introducing commission-free trading on indices.

You do have to watch out for extra costs like overnight swaps and inactivity fees.

FXOpen in Australia, for example, charges a $10 monthly fee if your account is inactive for three months and $50 to reactivate.

Currency conversion fees can also apply if your account and funding currencies don’t match.

To improve, FXOpen could simplify its fee structure and offer more fee-free deposit and withdrawal options. That would make trading even more cost-effective.

Platforms & Tools

FXOpen stands out by offering a range of platforms that cater to different trader needs, from asset variety to automated trading.

I particularly enjoy TradingView, which was introduced in 2022. It’s compatible across Windows, Mac, Linux, browsers, and mobile devices.

I appreciate its intuitive interface, rich charting tools, and the ability to get social insights and use community-created indicators.

The only downside is that it doesn’t support crypto or automated trading, which I’d love to see added.

TickTrader is another powerful and flexible platform. You can customize the interface, access over 1,200 trading tools, and use efficient one-click trading.

The improvements made in 2024 are nice, but the lack of a macOS app is still a downside.

The platform’s advanced order strategies make it versatile, though I’d like to see a Trailing Stop Order feature added. Still, it’s ideal for skilled traders and works well on Windows and mobile.

TickTrader is sleek and offers advanced tools and flexible order types

Then there’s MT5, which improves upon MT4 with more timeframes and integrated features, like an economic calendar and API support.

The multi-asset support is a big plus, but the interface customization isn’t as extensive as in other top platforms.

Finally, there’s MT4, solid for forex trading on desktops, browsers, and mobiles. The charting tools are robust, but the platform does feel a bit dated.

It lacks features like ‘Net’ accounts and an economic calendar, but despite these drawbacks, it still remains a reliable platform for many traders.

Research

FXOpen’s research tools feel pretty basic, especially compared to brokers we’ve evaluated like Saxo Bank and XM.

I check its ‘News & Analysis‘ blog for trading insights, but the lack of in-house webinars or podcasts is disappointing.

Explore market insights, trading tips, and analysis with FXOpen’s blog

Without actionable signals from third-party tools like Autochartist or Trading Central, FXOpen isn’t as beginner-friendly as I’d like.

Integrating features like the economic calendar and the margin/pip value calculator directly into the TickTrader platform would make a huge difference, especially for traders like me who rely on data-driven decisions.

Education

FXOpen’s education resources are minimal, with only fundamental forex and CFD trading pages.

FXOpen’s few education pages cover the basics, but content is limited

Compared to providers like FOREX.com and Interactive Brokers, FXOpen needs to offer more, like webinars, strategy guides, and in-depth market analysis tutorials.

Adding third-party e-books on trading and forex basics would be a great way to support beginners and make learning more accessible.

Customer Support

FXOpen’s customer support is reliable, but it could be better.

Whenever I have trading questions, I can reach its team 24/7 through live chat, email, phone, or a ticket system.

However, response times aren’t as fast as those of top brokers like Exness and IC Markets, which also offer multilingual support.

I’d like to see more self-help resources, such as detailed FAQs and video tutorials, to help find answers quickly.

It’s nice that FXOpen stays active on social media platforms like Facebook, X, LinkedIn, Instagram, and YouTube, which makes it easy to ask non-urgent questions.

To improve, it should offer extended support hours, callback options, and dedicated account managers for all clients.

Should You Trade With FXOpen?

FXOpen is worth considering. As a regulated broker, you are given competitive pricing and a variety of account types to choose from.

It offers MT4, MT5, TradingView, and TickTrader platforms, which makes it a solid choice for experienced traders.

The range of CFDs is decent, and the reduced spreads and commissions provide good value.

However, FXOpen lacks educational and research resources, especially compared to brokers like IG or XM.

Before jumping in, understand the regulatory details and see if they align with your trading goals.

Article Sources

• FXOpen Website
• FXOpen News & Analysis
• FXOpen Economic Calendar
• FXOpen Margin/Pip Value Calculator
• FXOpen – FCA License
• Financial Services Compensation Scheme (FSCS)
• FXOpen – CySEC License
• Investors Compensation Scheme (ICS)
• The Financial Commission
• ASIC – ASIC Cancels FXOpen AFS Licence

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