FXOpen
Published: Updated:
- Trust score
- 7/10
- Legal simplicity
- 6/10
- Min. deposit
- 1
- Trading platforms
- Payment systems
- Instruments
- Forex, Indices, Commodities, Metals, Energies, Stocks, Cryptocurrencies
- Legal entity
- FXOpen Ltd
- Jurisdiction
- United Kingdom
- Fees
- ECN accounts trade raw spreads with commission per lot; STP and Micro accounts carry the cost in a marked-up spread. Crypto instruments are quoted with their own spread structure, and overnight swaps apply on all leveraged positions.
- Withdrawals
- Withdrawals return to the funding method and are usually processed within one business day. Card refunds are limited to the deposited amount, with any surplus paid by bank transfer or e-wallet.
- Available in
Features
- Low $1 minimum deposit
- PAMM investment accounts
- Islamic (swap-free) accounts
- Telephone trading support
- ECN account type
- Affiliate program
- Wide range of trading instruments
Pros
- No-deposit bonus up to $10 for new accounts
- Tight spreads and low commissions on ECN accounts
- Free VPS hosting available
- Cryptocurrency trading supported
Founded in 2003, FXOpen began as a trader training operation before growing into a brokerage regulated by the FCA in the UK, ASIC in Australia, and the FSC of Nevis. It offers Micro, STP, ECN, and Crypto accounts alongside PAMM investment accounts and copy trading through Myfxbook AutoTrade and ZuluTrade. Liquidity comes from providers including SG Paris, Barclays Capital, and JPMorgan, routed through ECN systems such as LMAX, Currenex, and Integral.
FXOpen is a multi-regulated ECN broker with a $1 minimum deposit, PAMM investment accounts, Islamic accounts, and phone trading support alongside a wide range of tradable instruments.
Company background and regulation
FXOpen was founded in 2003, initially as a trader training operation before expanding into brokerage services. It is regulated across three jurisdictions: FXOpen Markets Limited in Nevis, FXOpen AU Pty Ltd in Australia (ASIC), and FXOpen Ltd in England and Wales (FCA).
Liquidity and execution
FXOpen sources liquidity from major banks including SG Paris, Barclays Capital, and JPMorgan, routed through ECN systems such as LMAX, Currenex, and Integral.
Account types
- Micro: aimed at beginners, $1 minimum deposit, market-maker execution with potential re-quotes.
- STP: $10 minimum deposit, commission built into the spread.
- ECN: $100 minimum deposit, near-zero spreads plus a $15 commission per million traded.
- Crypto: $10 minimum deposit, ECN-style execution on cryptocurrencies with 1:3 leverage.
Leverage across account types can reach up to 1:500.
PAMM accounts
- PAMM STP: $200 minimum, flexible spread, 1:100 leverage.
- PAMM ECN: $1,000 minimum, spreads from 0 pips, $1.5 commission, 1:100 leverage.
Leverage on PAMM accounts can be adjusted on request.
Copy trading
FXOpen supports copy trading through two services. Myfxbook AutoTrade charges only for profitable trades, applies strategy-selection criteria, and provides real-time performance graphs and a demo account. ZuluTrade allows multi-account management, portfolio creation, and real-time position monitoring, and includes a 30-day demo account.
Instruments and features
FXOpen offers forex and CFD trading and was an early broker to support cryptocurrency trading, including Bitcoin, Litecoin, and Namecoin. Additional features include a PAMM-account system, a free VPS server, trading education resources, an affiliate program, and 24/7 technical support.
No-deposit bonus
New clients can start with a no-deposit bonus of $1 on a Micro account or $10 on an STP account. The bonus itself cannot be withdrawn, but profits generated from it can be, subject to the broker's conditions.
Trading conditions
FXOpen runs ECN, STP, Micro and Crypto account types. The ECN account is the broker's core product: raw aggregated spreads with a commission per lot and no dealer intervention, which suits scalpers and automated strategies where a marked-up spread would consume the edge.
Terms follow the entity. The UK company operates under FCA rules with 30:1 retail leverage, negative balance protection and margin close-out at 50%; the Australian and offshore entities apply their own limits, and offshore clients see leverage several times higher without those guarantees.
Hedging, scalping and Expert Advisors are permitted, and there are no restrictions on trading through news releases on ECN accounts.
Verification
Verification requires photo ID and a proof of address issued within the last three months. Clients onboarded to the FCA or ASIC entities also complete an appropriateness assessment covering trading knowledge, which is a regulatory requirement rather than a formality.
Documents are normally reviewed within one business day. Complete verification before requesting the first withdrawal, since an unverified account adds the document review to the payout time.
