Is FXOpen Legit?

Which FXOpen Company Holds Your Money?

FXOpen is a group of companies that all share the same name. While the brand as a whole is long-standing and respected, the company you sign up with actually decides which rules protect your money.

Regulator classification is based on BrokerListings.com’s regulator scoring system.

FXOpen Markets Limited, trading as FXOpen INT, is the branch most traders outside the EU use, but it offers little protection. Its website says it is “duly registered in Nevis”, which just means it is legally based there. There is no financial regulator watching how it handles your money.

FXOpen’s company comparison page shows no regulator and no compensation scheme for this jurisdiction. It also lists negative balance protection and client money protection as “No”.

Our in-depth FXOpen review links FXOpen Markets Limited to The Financial Commission. This group helps settle disputes between traders and brokers, but it is not a government regulator. Always check The Financial Commission’s member directory before relying on this protection.

FXOpen EU Ltd gives the best protection, but only for people in the EU. It keeps client money in separate accounts, so your money isn’t mixed with the company’s funds. It also offers negative balance protection and is part of Cyprus’s Investor Compensation Fund, which covers up to €20,000 if the company fails.

FXOpen Ltd, trading as FXOpen UK, used to be another well-protected option, but it has closed all client accounts and is not taking new ones. Retail clients had until 16 September 2026, and professional clients until 21 September 2026, to close their trades and withdraw their money. FXOpen Ltd asked the FCA to cancel its license.

Regulator Actions And Warnings That Name FXOpen

Several official notices mention FXOpen. Some are negative marks against the group, and others warn about scammers pretending to be FXOpen.

Australia canceled FXOpen’s license. In September 2024, the regulator ASIC revoked the license FXOpen AU Pty Ltd (FXOpen AU) had held since December 2011. ASIC said it was concerned that FXOpen AU did not have enough qualified staff to run the business properly. It also said the company broke a “key person” rule, which links a license to certain managers, and did not follow financial services laws.

FXOpen AU says it is not taking new clients.

Malaysia put FXOpen on its alert list. In May 2022, the Securities Commission Malaysia List added FXOpen to its Investor Alert, which names websites and companies it hasn’t authorized.

The FCA has often warned about companies pretending to be FXOpen. These clone firms are scams that use a real broker’s UK Forex name and license number to look trustworthy. For example, I found five FCA warnings about clones copying: FXOpen Ltd, fxopenvip.com, FX Oppen/fxopenltd.com, FXopen Pro, and in August 2025, FXOpen Finance.

The Ownership Question

Authorities in the US and Cyprus have both taken notice of FXOpen’s owner. In February 2024, the US Department of Justice charged Aliaksandr Klimenka, a Belarusian and Cypriot citizen, with helping run BTC-e. Prosecutors say BTC-e was a crypto exchange criminals used to launder money from hacking, ransomware, and other crimes.

The indictment says he controlled “FX Open”, described as a financial company. FXOpen itself has not been charged, and the case is focused on BTC-e. Klimenka pleaded not guilty.

Cyprus’s regulator also took action. CySEC decided that Klimenka’s influence as the only indirect shareholder of FXOpen EU Ltd was not in the company’s best interests. They suspended his voting rights in the company, so he can no longer take part in decisions about how FXOpen EU is run.

His shares in FXOpen EU are held through FXOpen Ltd, the same UK company that has now closed its client accounts.

How To Check Which FXOpen Company You’re Dealing With

You can do these four quick checks to find out exactly who is holding your money.

1. Check the small print at the bottom of the website. ‘fxopen.com/en-cy’ lists FXOpen EU Ltd and CySEC license 194/13, while ‘fxopen.com/en’ lists FXOpen Markets Limited in Nevis. If you see FXOpen Ltd or FXOpen UK mentioned, remember that company has closed all client accounts.

2. Check the web address when you log in. EU accounts use ‘my-new.fxopen.eu’, and international accounts use ‘mynew.fxopen.com’.

3. See who issues your documents. FXOpen INT’s Terms of Business, which are the rules for its ECN trading accounts, come from FXOpen Markets Limited at an address in Charlestown, Nevis.

4. Check the license on the regulator’s website. Search for 194/13 on the CySEC’s register or 579202 on the FCA register to see the status of the UK company’s license. FXOpen’s real websites are ‘fxopen.com’, ‘fxopen.co.uk’ , and ‘fxopen.eu’. Treat similar-looking sites like ‘fxopenfinance.uk’ as fake.

What FXOpen Users Say

User reviews and ratings were true at the time of our checks, but are subject to change.
⁠⁠
Here’s what I concluded after reading 20 Trustpilot reviews, posted between May and November 2026. Nine gave five stars, five gave four, one gave three, one gave two, and four gave one star.

Withdrawals came up five times. Three people were happy, praising fast payouts or helpful support staff. Two of them were UK customers who wrote in late September 2026, just after FXOpen UK’s retail deadline, and thanked staff for helping them withdraw their money and close their accounts.  The two who had problems were both caught out by how FXOpen’s accounts work.

Your money sits in a trading account while you trade, but it passes through a separate Main account on its way out of FXOpen. One reviewer called FXOpen “literally scammers” because money wasn’t showing in their Main account, and FXOpen replied that it was still in their trading account and needed to be moved across. FXOpen’s help center explains how the two accounts work, so if your balance looks wrong, check both before you panic.

Of the other one-star reviews, one complained about a job application, one gave no details, and one said their account had been locked for two years. I noticed that FXOpen replied to 91% of negative reviews, usually within a week.

Opinion From Direct Testing

TickTrader is FXOpen’s own platform, and in my testing, it was powerful and flexible. It has a customizable layout, over 1,200 trading tools, one-click trading, and Level 2 pricing, which shows the buy and sell orders queued behind each price. It suits experienced traders more than beginners, but it still lacks a macOS app and trailing stop orders.

It’s a genuine platform, not one of the fake trading apps scammers use to show made-up profits. Soft-FX, a trading software firm that has worked with the broker since 2005, built TickTrader, and FXOpen’s version is on the official Store. It’s also the only platform FXOpen INT’s website now lists.

One thing to know: the US indictment against Klimenka (FXOpen owner) says a technology company named Soft-FX was also controlled by
him and maintained BTC-e’s servers. That’s an allegation, not a finding, and nothing in the case is about TickTrader itself, but it links the platform’s maker to the same unresolved case.

Bottom Line

FXOpen is a long-standing global broker, but legit isn’t the same as safe. FXOpen is a real broker with two decades behind it, and EU residents still get proper protection. Everyone else is trusting a shrinking group with limited obstacles standing between their money and a problem.