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Score

7.04 /10
Good

FXOpen

Cyprus

10-15 years

Regulated in Cyprus

Market Making(MM)

Suspicious Scope of Business

Medium potential risk

https://www.fxopen.eu

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Score

Regulatory Index6.67

Business Index8.27

Risk Management Index8.90

Software Index6.00

License Index6.67

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VPS Standard
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Broker Information

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Company Name

FXOpen EU Ltd

Company Abbreviation

FXOpen

Platform registered country and region

Cyprus

Company website

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FXOpen

Cyprus

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FXOpen · Company summary
Quick FXOpen Review Summary
Founded in 2007
Registered inCyprus
Regulated byCySEC
Trading Instruments700+, indices, commodities, forex, shares, cryptos, ETFs
Demo Account✅
Account TypeECN
Min Deposit$/€300
LeverageUp to 1:30
EUR/USD SpreadFloating around 0.2 pips
Trading PlatformMT4/5, TickTrader, TradingView
Deposit FeeVisa/MasterCard (❌), Easy bank transfer (❌)
Withdrawal FeeBank Transfer (✔), Visa/MasterCard (❌), Easy bank transfer (❌)
Customer Service9 am - 8 pm (Eastern European Time)
Live chat
Tel: +357 25024000
Email: support@fxopen.eu
Regional RestrictionUSA

FXOpen Information

FXOpen is a trading name of FXOpen EU Ltd, is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 194/13. FXOpen offers retail and professional trading available markets including indices, commodities, forex, shares, cryptos, and ETFs through MT4, MT5, TickTrader, and TradingView platforms.

FXOpen's homepage

Pros & Cons

ProsCons
Regulated by CySECUS clients are not accepted
Negative balance protectionNo copy trading
Many instruments availableHigh minimum deposit
Demo accountsWithdrawal fees charged
MT4 and MT5 platforms
Live chat support

Is FXOpen Legit?

Yes, FXOpen is regulated by Cyprus Securities and Exchange Commission (CySEC).

Regulated CountryRegulated byRegulated EntityLicense TypeLicense Number
CySECFXOpen EU LtdMarket Making (MM)194/13
Regulated by CySEC

Market Instruments

Indices, commodities, forex, shares, cryptos, ETFs... FXOpen allows clients to access 700+ trading markets.

Trading AssetsAvailable
Indices✔
Commodities✔
Forex✔
Shares✔
Cryptos✔
ETFs✔
Bonds❌
Options❌

Account

FXOpen only offers a single account type - ECN trading account, with a minimum deposit requirement of 300 USD or EUR. You can find detailed info about account features in the table and screenshot below:

ECN Trading Account Features
Min Deposit$/€300
Max Leverage1:30
Spread Floating from 0 pips
CommissionFrom $1.5 per lot
Demo Account✔
ECN account trading features

Leverage

The maximum leverage offered by FXOpen is 1:30. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads & Commissions

The EUR/USD spread is floating around 0.2 pips. If you are interested in spreads on other trading instruments, you can find detailed spread info on its homepage: https://fxopen.com/en-cy/

Spreads

As for commissions, if your account balance is below $1,000, the commission for forex trading is $3.5 per lot, while $1.5 per lot for account balance over $250,000+. Visit https://fxopen.com/en-cy/pricing/ to find more specific info on commissions on other trading instruments.

ECN Account - FX Commission
Account BalanceCommission
Below $1,000$3.5 per lot
$1,000 - $25,000$2.5 per lot
$25,000 - $250,000$1.8 per lot
$250,000+$1.5 per lot
Commissions

Trading Platforms

As for the trading platform, FXOpen provides its clients with many options. There are public platforms such as MT4/5 and TradingView that have served many clients worldwide, also FXOpen's own platform TickTrader.

If you didn't want to spend time familiarizing yourself with a new platform, you can choose MT4/5 and TradingView. But FXOpen's own platform provides better compatibility with businesses, as they are specially developed and customized platforms. The choice is yours.

Trading PlatformSupported Available Devices Suitable for
MT4✔Windows, MacOS, Web, iOS, AndroidBeginners
MT5✔Windows, MacOS, Web, iOS, AndroidExperienced traders
TickTrader✔MacOS, Windows, Linux, Web, iOS, Android/
TradingView✔Windows, Web, iOS, AndroidBeginners
Trading Platforms
Trading platforms comparison

Deposit & Withdrawal

In terms of deposit and withdrawal, like many good brokers, FXOpen provides a detailed form with important information about payment methods, accepted currencies, minimum/maximum amount, fees, and processing time. The feasible payment methods are Bank Transfer, Visa/MasterCard, and Easy bank transfer.

Deposit

Deposit MethodMin DepositMax DepositDeposit Fee
Visa/MasterCard0.01 EUR, 1 USD1,000 EUR/USD❌
Easy Bank Transfer20,000 EUR/GBP50 EUR/GBP❌
Deposit

Withdrawal

Withdrawal MethodMin WithdrawalMax WithdrawalWithdrawal FeeWithdrawal Time
Bank Transfer15 EUR, 30 USD, 15 GBPNo limit15 EUR, 30 USD, 15 GBP1-3 business days
Visa/MasterCard1 EUR/USD1,000 EUR/USD❌2-5 business days
Easy Bank Transfer10 EUR/GBP20,000 EUR/GBP❌/

Note: Withdrawal forms received before 12:00 (GMT) will be processed on the same business day. If these are received after 12:00 (GMT) or the weekend, they will be processed the next business day.

Withdrawal
Deposit & Withdrawal

Customer Support

FXOpen does not offer 24/7 customer support. Customer service time is only available from 9 am to 8 pm (Eastern European Time) by live chat, phone, and email. You can also follow FXOpen on some social media platforms such as YouTube, Facebook, X, Telegram, LinkedIn, and Instagram.

Service Time9 am - 8 pm (Eastern European Time)
Live Chat✔
Phone+357 25024000
Emailsupport@fxopen.eu
Address38 Spyrou Kyprianou Street, CCS BLDG - Office N101, 4154 Limassol, Cyprus
Social MediaYouTube, Facebook, X, Telegram, LinkedIn, Instagram
Contact info

News

NewsCySEC Suspends FXOpen Shareholder Voting Rights for Prudent Management

The Cyprus Securities and Exchange Commission (CySEC) has decided to suspend the voting rights of FXOpen EU Ltd’s sole indirect shareholder, Aliaksandr Klimenka, to ensure sound management.

WikiFX
2024-10-30 12:11
CySEC Suspends FXOpen Shareholder Voting Rights for Prudent Management

NewsFXOpen and TradingView Join Forces on Mobile

FXOpen has broadened its partnership with TradingView, making their integration available on mobile apps. This update enables traders to use FXOpen via TradingView's mobile applications, providing enhanced flexibility.

WikiFX
2024-06-26 17:41
FXOpen and TradingView Join Forces on Mobile

NewsFXOpen: Three New Currency Pairs Added to Expand Asset Pool

FXOpen expands the asset pool with three new currency pairs. USD/HUF, EUR/HUF, and USD/CZK offer increased trading opportunities in thriving markets. Learn more about the broker's commitment to customer service and enhancements to its services, including the elimination of trading commissions on index CFDs and a reduced minimum trade size. Catering to the diverse needs of global traders, FXOpen remains a reliable platform for seasoned traders in the global financial markets.

WikiFX
2023-05-31 11:49
FXOpen: Three New Currency Pairs Added to Expand Asset Pool

NewsFXOpen Lowers Minimum Size For Trades On Their Platform

FXOpen, a global FX and CFD broker, has lowered the minimum trade size on index CFDs from 0.1 lot to 0.01, while also introducing commission-free trading. The company offers an extensive range of markets and is regulated by the UK's FCA and Australia's ASIC.

WikiFX
2023-05-04 11:20
FXOpen Lowers Minimum Size For Trades On Their Platform
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Alexia
more than one year
Well mates I had a pretty bad experience with FXOpen, I lost everything, I couldn’t withdrawal after trading and after sometime I was locked out of my account, and that was it, I don’t see anything good with this broker, after my loses I started trading with, benarmstrong-trades. com and I’ve not had any issue with my withdrawal, I was able to make $9,000 in a week. Another thing about FXOpen is their customer service won’t respond, Ben Armstrong offers the best, that where i trust.
Well mates I had a pretty bad experience with FXOpen, I lost everything, I couldn’t withdrawal after trading and after sometime I was locked out of my account, and that was it, I don’t see anything good with this broker, after my loses I started trading with, benarmstrong-trades. com and I’ve not had any issue with my withdrawal, I was able to make $9,000 in a week. Another thing about FXOpen is their customer service won’t respond, Ben Armstrong offers the best, that where i trust.
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2023-03-07 07:09
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1
唸
more than one year
The company is registered in Cyprus and regulated by CYSEC. I noticed that its leverage is controlled at 1:30, which is a very sensible level. I know I shouldn't try too high a leverage, so FXOpen's leverage is not a disadvantage for me. I'm going to open a demo account and try it out!
The company is registered in Cyprus and regulated by CYSEC. I noticed that its leverage is controlled at 1:30, which is a very sensible level. I know I shouldn't try too high a leverage, so FXOpen's leverage is not a disadvantage for me. I'm going to open a demo account and try it out!
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2023-02-20 18:37
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