Overall Rating: ★★★☆☆ (3.6/5.0)

FXOpen is a well-established ECN forex and CFD broker founded in 2005 and regulated in multiple jurisdictions including the FCA (UK) and ASIC (Australia). It is known for its low-latency ECN execution, tight spreads, and wide range of account types. FXOpen appeals primarily to experienced and algorithmic traders looking for fast execution, raw pricing, and access to MT4 and MT5 platforms. This FXOpen review evaluates its regulatory standing, pricing structure, trading features, and overall reliability.

Key Features

FXOpen provides institutional-grade trading infrastructure with a strong focus on execution quality.

• Trading Platforms:
  • MetaTrader 4 (MT4)
  • MetaTrader 5 (MT5)
  • Available on desktop, web, and mobile
• Markets Offered:
  • Forex, indices, commodities, shares, and cryptocurrencies
• Account Types:
  • ECN, STP, Micro, and Crypto accounts
• Execution Model:
  • True ECN and STP, with no dealing desk intervention
• Leverage:
  • Up to 1:30 for FCA clients
  • Up to 1:500 under offshore entities

Regulation and Security

FXOpen operates under a strong regulatory umbrella, offering a high level of client fund protection.

• FCA (UK) – FRN 579202
• ASIC (Australia) – AFSL 412871
• CySEC and FSRC (offshore entities) for international clients
• Client Fund Segregation – held in top-tier banks
• Investor Compensation Fund (EU clients)
• Negative Balance Protection for retail clients under FCA/ASIC

Pricing and Costs

FXOpen stands out for raw ECN spreads and transparent commission structures, ideal for scalpers and high-volume traders.

• Spreads:
  • ECN: From 0.0 pips
  • STP: From 1.0 pips
• Commission (ECN accounts):
  • From $1.50 per lot per side
• Minimum Deposit:
  • $1 for Micro, $100 for STP, $200 for ECN
• Deposit & Withdrawal Fees:
  • Deposit: Free
  • Withdrawal: Fees vary by method
• Inactivity Fee:
  • Yes – $10/month after 90 days of inactivity

Educational Resources and Customer Support

FXOpen offers standard educational tools but focuses more on technology and execution than beginner training.

• Education:
  • Blog articles, basic platform guides, and trading tips
• Market Analysis:
  • Daily market outlooks and technical commentary
• Customer Support:
  • 24/5 via live chat, email, and phone
  • Multilingual support with fast response times

Risk Management Tools

FXOpen provides strong control features for risk management, particularly for high-leverage or algorithmic traders.

• Tools Provided:
  • Stop-loss, take-profit, trailing stops, and margin alerts
• Negative Balance Protection for regulated clients
• Leverage Control – adjustable per account
• No guaranteed stop-loss orders (GSLOs)

Pros and Cons

Pros

• True ECN trading environment with raw spreads
• FCA and ASIC regulation
• MT4 and MT5 support with fast execution
• Low minimum deposit on micro and STP accounts
• Crypto accounts for digital asset trading

Cons

• Inactivity fee applies after 90 days
• Education limited compared to beginner-focused brokers
• No guaranteed stop-loss protection
• Offshore entity used for some regions

Conclusion: Is FXOpen the Right Choice?

FXOpen is ideal for traders who prioritise raw pricing, ECN access, and robust platform performance. Its strong regulatory standing, multiple account types, and reliable trade execution make it a great option for serious retail and institutional traders.

However, complete beginners may find the learning curve steep, and those looking for copy trading or guaranteed risk tools might prefer brokers like AvaTrade or eToro.