FXOpen review

Spread from

0.0 pips

EUR/USD spread

Approx. 0.1 pips, ECN

GBP/USD spread

Approx. 0.3 pips, ECN

Commission

$3.50 per side / $7 round turn, Basic ECN

All-in cost, EUR/USD

Approx. 0.8 pips

Spread type

Variable

Overnight swap

Both: overnight swaps apply; Islamic swap-free accounts available

Inactivity fee

$10/month

Deposit fee

Varies by method; 0% to 4%

Withdrawal fee

Varies by method; 0% to 2%+

Currency conversion

Conversion at FXOpen applicable exchange rate

Cost is where brokers in the same regulatory bracket actually differ.

A quoted spread from 0.0 pips is a raw-spread figure, which almost always means a separate commission per lot. Compare the two together - a "zero spread" account with a high commission can cost more than a wider spread with none.

Quoted spreads are best-case figures on the most liquid pair, in normal conditions. What you actually pay widens around news and at the session open.

FXOpen lists a minimum deposit of $100. Treat it as the cost of opening an account, not the cost of trading one - position sizing on a small balance is what tends to cause damage.

Markets

Forex, Metals, Commodities, Indices, Shares, Cryptocurrencies

Currency pairs

50+

Total instruments

600+

Crypto CFDs

Yes

Maximum leverage

1:30

Execution model

ECN / market execution

Execution speed

Under 100ms

Order types

Market, limit, stop, stop-limit, stop-loss, take-profit, trailing stop

Servers

London and global financial data-centre infrastructure

Leverage is capped at 1:30, which is the retail limit under tier-one regulation. It is a protection rather than a restriction: it caps how quickly a position can move against your balance.

FXOpen covers forex, metals, commodities, indices, shares, cryptocurrencies. A wider range matters less than depth in the instruments you actually trade.

Funding options: bank transfer, credit/debit card, volet, webmoney, online banking, cryptocurrency and regional payment methods. Check withdrawal routes as well as deposit ones - they are often not the same, and the difference only becomes apparent when you try to take money out.

Platforms

TickTrader, MetaTrader 4, MetaTrader 5, TradingView

Own platform

Yes, TickTrader

Mobile app

Both proprietary and third-party

Browser trading

Yes

Automated trading

Yes; MT4/MT5 Expert Advisors and TickTrader algorithmic trading

Copy trading

Yes, PAMM

Indicators

100+ through TradingView; 30+ MT4; 38+ MT5; TickTrader indicators

Third-party tools

TradingView, VPS, PAMM

API access

Yes, TickTrader API/FIX API

MetaTrader 4 remains the most widely supported platform for expert advisors. If you rely on an existing EA, this is usually the deciding factor.

MetaTrader 5 handles more asset classes and order types than MT4, but expert advisors are not compatible between the two - an MT4 EA will not run on it.

TradingView integration lets you trade from charts you may already use, removing the need to run a second platform for analysis.

Regulated by

FCA (579202); CySEC (194/13)

Regulator tier

Tier 1

Register entry

FCA Financial Services Register, FRN 579202

Client money segregated

Yes under FCA/CySEC entities

Held at

Regulated credit institutions/banks

Negative balance protection

Yes for UK/EU retail clients

Compensation scheme

FSCS up to £85,000 for eligible UK clients; ICF up to €20,000 for eligible EU clients

Audited by

Independent external auditors

Not available to

United States, Belgium, Japan and jurisdictions where services would contravene local law

Across a hundred brokers, the licence is what separates the field fastest.

FXOpen holds tier-one authorisations from FCA and CySEC. That matters more than any headline spread: it determines your leverage cap, whether losses can exceed your deposit, and what happens to your money if the firm fails.

The FCA caps retail leverage at 1:30, mandates negative balance protection, and covers eligible clients under the Financial Services Compensation Scheme.

CySEC licences passport across the EU and follow the 1:30 retail leverage cap, with the Investor Compensation Fund covering eligible claims.

Client money is held separately from the firm's own money, at Regulated credit institutions/banks. That separation is what makes your balance recoverable if the company fails, rather than part of the pool its creditors divide up.

Negative balance protection applies, so a losing position cannot take the account below zero and leave you owing the broker money.

Covered by FSCS up to £85,000 for eligible UK clients; ICF up to €20,000 for eligible EU clients, which pays eligible clients up to its limit if the firm fails owing client money.

Check the licence yourself: the FCA Register, the CySEC register of investment firms.

Minimum deposit

$100

Account types

ECN, PAMM ECN, Islamic/Swap-Free, Demo

Account currencies

USD, AUD, CHF, EUR, GBP, JPY, SGD, GLD

Islamic account

Yes

Demo account

Yes

Professional account

Yes

Minimum trade size

0.01 lots

Time to open

Typically within 48 hours including verification

FXOpen runs 4 account types. More choice is not automatically better: the tightest headline spread almost always sits on the account that also charges a commission, so the comparison that matters is the two added together.

Base currencies: USD, AUD, CHF, EUR, GBP, JPY, SGD, GLD. Holding the account in the currency you fund it with avoids a conversion charge on every deposit and withdrawal - a cost that never shows up in a spread comparison.

The smallest position is 0.01 lots. For anyone starting carefully this matters more than the minimum deposit, because it sets the least you can put at risk on a single trade.

A demo account is available. Worth using for the platform rather than the results: fills are simulated, so it tells you how the software behaves but very little about execution.

Deposit methods

Bank transfer, credit/debit card, Volet, WebMoney, online banking, cryptocurrency and regional payment methods

Withdrawal methods

Bank transfer, credit/debit card, Volet, WebMoney, cryptocurrency and supported regional methods

Deposit time

Instant/few minutes for electronic methods; bank wire typically 3-5 business days

Withdrawal time

Electronic payments, cards and crypto processed within 24 hours; bank wire typically 3 business days

Minimum withdrawal

$1 equivalent

Local payment methods

Online Banking in Vietnam, Thailand and Indonesia; Paypaid; other region-specific methods

Withdrawals are stated at Electronic payments, cards and crypto processed within 24 hours; bank wire typically 3 business days, against Instant/few minutes for electronic methods; bank wire typically 3-5 business days for deposits. A gap between the two is normal and not in itself a warning sign - identity checks are a legal obligation, not obstruction. What is worth noticing is a withdrawal that keeps meeting new conditions after those checks are done.

Withdrawal routes: bank transfer, credit/debit card, volet, webmoney, cryptocurrency and supported regional methods. Money is usually returned by the route it arrived on, so the deposit method you pick is in effect the withdrawal method you are picking too.

The minimum withdrawal is $1 equivalent - relevant if you intend to fund the account lightly, since it sets the smallest amount you can take out at a time.

Support hours

24/5

Contact channels

Live chat, support ticket/email, phone

Languages

English, French, German, Russian, Arabic, Chinese, Indonesian, Thai and others

Telephone

+64 9 801 0123

Email

support@fxopen.com

Live chat response

Typically under 2 minutes

Education

Extensive: trading guides, platform tutorials, educational articles and webinars

Research

Market analysis, technical analysis, market news, trading ideas and analytical content

Support runs 24/5. Round-the-clock cover matters more than it sounds: a position held over a weekend or through an unexpected halt is exactly when you need somebody to answer.

Reachable by live chat, support ticket/email, phone. A published telephone number is the one channel that is hard to fake and hard to ignore, so whether there is one says more than the number of channels does.

Languages: English, French, German, Russian, Arabic, Chinese, Indonesian, Thai and others. Being able to raise a complaint in your own language is worth more than it appears, because complaints are where precision matters most.

Education: extensive: trading guides, platform tutorials, educational articles and webinars. Treat broker-published material as an introduction rather than as advice - it is produced by a firm whose revenue rises when you trade more.

Legal entity

FXOpen Markets Limited

Company number

C 42235

Headquarters

Charlestown, Nevis

Founded

2005

Publicly listed

No

Parent company

Independent

Employees

Approx. 200

Also trades as

FXOpen; FXOpen INT

FXOpen has been trading for around 21 years, through at least one full market cycle. Longevity guarantees nothing on its own, but a firm that came through 2008 and 2015 has been tested in a way a recent entrant has not.

The contracting entity is FXOpen Markets Limited. This is the company you would actually have a relationship with, and it is worth checking that it is the same one named on the licence you are relying on: large brokers commonly operate several, and they are not equally protected.

Part of Independent. A parent adds resources, but the protections that apply to you are the ones attached to the entity that holds your account, not to the group.