FXOpen is a forex and CFD broker that has offered brokerage services since 2005 and promotes ECN trading on its own TickTrader platform. UK clients deal with FXOpen Ltd (FCA, according to the firm), whose name also appears on the site’s Middle East and Asia Pacific pages, EU clients with FXOpen EU Ltd (CySEC) and other international clients with FXOpen Markets Limited, a company registered in Nevis that names no regulator. ASIC cancelled the licence of FXOpen AU Pty Ltd in 2024. FXOpen Ltd’s accounts name Aliaksandr Klimenka as its ultimate controlling party.
Research-based assessment This profile has not completed TTI’s on-site verification and 30-day platform review. How TTI verification works
| Regulator | Licence | Legal entity | Register status | Source |
|---|---|---|---|---|
| Cyprus Securities and Exchange Commission (CySEC) | 194/13 | FXOpen EU Ltd | Authorised Checked 7 Oct 2026 | Register entry for FXOpen EU Ltd (opens in a new tab) 3 |
| Australian Securities and Investments Commission (ASIC) | AFSL 412871 | FXOpen AU Pty Ltd | Withdrawn or revoked Checked 7 Oct 2026 | Register entry for FXOpen AU Pty Ltd (opens in a new tab) 5 |
Each licence was matched on the regulator’s own register on the date shown. Unverified claims are listed under Regulation and legal entities.
We verified FXOpen EU Ltd’s CySEC licence. FXOpen Ltd, the UK company, is not in the FCA’s published list of investment firms and we could not load its register page, so its FCA authorisation is unverified, and FXOpen Markets Limited, which serves international clients from Nevis, names no regulator. In September 2024 ASIC cancelled the licence of FXOpen AU Pty Ltd over inadequate resources and compliance failures; the company applied for a review, and we found no decision. In July 2024 CySEC suspended the voting rights of the group’s owner, Aliaksandr Klimenka, over FXOpen EU, finding his influence prejudicial to its sound and prudent management. US prosecutors charged him in 2024 with money laundering conspiracy in connection with the BTC-e exchange; the case is due for trial in November 2026. FXOpen Ltd’s auditors drew attention to a going-concern uncertainty that its accounts link to a legal action against the owner. UK and EU clients get segregated client money, negative balance protection, a compensation scheme and an ombudsman, but the Nevis company’s terms make clients liable for negative balances and contain no client money segregation terms. FXOpen markets its accounts as ECN accounts with no dealing desk, while its EU execution policy says FXOpen EU is the counterparty to every trade. Brazil’s CVM ordered FXOpen Markets Limited to stop offering services in Brazil in 2016.
Each regional site names the company that operates it, with its registration number and its regulator or place of registration, and each client agreement names the contracting company.
Companies House names Aliaksandr Klimenka as the person with significant control of FXOpen Ltd, with 75% or more of the shares and votes, and the UK accounts name him as ultimate controlling party. FXOpen EU’s 2025 Pillar III report says it is a subsidiary of FXOpen Ltd and of Prometheus Holding Ltd, which the UK accounts say is wholly owned by director Alexey Stepanov.
The site footers and agreements give each company’s full name, registration number and registered address; the UK details match Companies House and the EU details match CySEC’s register.
UK clients can go to the Financial Ombudsman Service and EU clients to the Financial Ombudsman of the Republic of Cyprus. International clients can take complaints to the Financial Commission, which lists FXOpen as an active member since 2013, although FXOpen Markets’ own complaints policy names no external body.
Companies House lists FXOpen Ltd’s directors, Alexey Stepanov and Gary Michael Thomson, and FXOpen EU’s Pillar III report names its four directors.
Reduced the enforcement dimension by 25 points (high severity, 2.2 years before the review).
Reduced the enforcement dimension by 2.5 points (moderate severity, 10 years before the review, counted at a quarter of its weight).
Partly met We matched FXOpen EU Ltd on CySEC’s register. FXOpen Ltd is not in the FCA’s list of investment firms and we could not load its register page, and FXOpen Markets Limited, which serves international clients, names no regulator. ASIC’s records show that the Australian company’s licence was cancelled in 2024.
Not met We found no complaint statistics published by FXOpen, and FXOpen Ltd is below the thresholds for the FCA’s and the ombudsman’s firm-level tables.
Partly met The CySEC licence FXOpen states matches the register, and the Nevis company does not claim a licence. We could not confirm the FCA authorisation the UK site states. FXOpen’s Australian site tells clients that the ASIC licence has been cancelled.
Each dimension is scored from its criteria, then weighted. Dimensions without enough evidence are left out and the remaining weights are rescaled. Open a dimension to see every criterion, our rationale and the sources.
Whether the firm’s licences exist, are current and cover what it offers.
Client-facing entities appear on the regulator’s register 12345
We matched FXOpen EU Ltd on CySEC’s register. FXOpen Ltd is not in the FCA’s list of investment firms and we could not load its register page, and FXOpen Markets Limited, which serves international clients, names no regulator. ASIC’s records show that the Australian company’s licence was cancelled in 2024.
Authorisations are current and unrestricted 35678
FXOpen EU’s CySEC licence is current. ASIC cancelled FXOpen AU’s licence in September 2024 and it is not in ASIC’s current licensee data, although the company is still registered; its review application had not produced a published decision when we checked. CySEC’s 2024 decision suspended the owner’s voting rights but did not restrict FXOpen EU’s licence.
Permissions cover the services offered 234
CySEC authorises FXOpen EU to execute orders and deal on own account in all instrument classes. The FCA’s published list does not include FXOpen Ltd, so we could not see its permissions, and FXOpen Markets Limited offers CFDs to international clients without naming any licence.
Criteria and their weighting are explained in the methodology.
Whether you can find out who owns and runs the firm.
Ultimate ownership can be identified 141516
Companies House names Aliaksandr Klimenka as the person with significant control of FXOpen Ltd, with 75% or more of the shares and votes, and the UK accounts name him as ultimate controlling party. FXOpen EU’s 2025 Pillar III report says it is a subsidiary of FXOpen Ltd and of Prometheus Holding Ltd, which the UK accounts say is wholly owned by director Alexey Stepanov.
Group structure is explained 1491516
FXOpen’s sites say which company serves UK, EU and international visitors, and the UK accounts and FXOpen EU’s Pillar III report describe FXOpen Ltd’s holding in FXOpen EU and the sale of shares to Prometheus Holding. The sites do not explain how the companies are related, and the only description of FXOpen Markets Limited’s link to the group is the accounts’ statement that it is connected through the controlling party.
Financial statements are available 151617
FXOpen Ltd files audited group accounts at Companies House, most recently for 2024, with a going-concern material uncertainty, and FXOpen EU publishes prudential disclosures for 2025. We found no financial statements for FXOpen Markets Limited, which serves international clients, and the UK site’s regulatory disclosure uses figures from 2021.
Criteria and their weighting are explained in the methodology.
What protects client money if something goes wrong.
Retail clients have negative balance protection 111218
Retail clients of the UK and EU companies have negative balance protection, but the Nevis company’s terms of business say clients remain fully liable for a negative balance after a stop out and that FXOpen may recover it through legal proceedings.
An investor compensation scheme applies 11121519202122
Eligible UK clients are covered by the FSCS, up to £85,000 for investments as the UK site says (the UK terms still give £50,000), and EU retail clients by the Investor Compensation Fund (up to EUR 20,000), to which FXOpen EU contributes. No compensation scheme covers clients of FXOpen Markets Limited; the Financial Commission’s fund belongs to a private dispute body and is not an investor compensation scheme.
Withdrawal terms are disclosed 111224
The funding pages say withdrawal requests received before 12:00 GMT are processed the same business day and give typical bank and card transfer times, and the UK terms aim to pay within two business days of accepting a request. The available methods and current fees are shown only in the client area.
Criteria and their weighting are explained in the methodology.
Regulator warnings, enforcement actions and final legal findings on record.
Starts at 100 and loses points for each substantiated adverse finding by severity and age. Allegations, complaints and clone warnings never count. Total deducted: 27.5 points.
Warning lists and enforcement records have been searched 56252627
We searched CySEC, FCA, ASIC and CVM records, the Japan FSA’s warning list and the Indian and Malaysian alert lists, and ran web searches for other actions. We found CySEC’s 2024 decision, ASIC’s 2024 licence cancellation, the CVM’s 2016 stop order and the US indictment of the owner.
CySEC suspends the voting rights of FXOpen EU’s owner, finding his influence prejudicial to the firm 6
29 Jul 2024. Reduced the enforcement dimension by 25 points (high severity, 2.2 years before the review).
Brazil’s CVM orders FXOpen Markets Limited to stop offering services to Brazilian residents 25
7 Oct 2016. Reduced the enforcement dimension by 2.5 points (moderate severity, 10 years before the review, counted at a quarter of its weight).
Criteria and their weighting are explained in the methodology.
How the firm handles complaints, and what independent records show.
A complaints procedure is published 11282930
The EU policy acknowledges complaints within five business days and answers within two months, and the UK policy follows the FCA’s eight-week rule. The Nevis company’s policy requires complaints within one business day of the event and gives no response times.
Independent dispute resolution is available 11222930
UK clients can go to the Financial Ombudsman Service and EU clients to the Financial Ombudsman of the Republic of Cyprus. International clients can take complaints to the Financial Commission, which lists FXOpen as an active member since 2013, although FXOpen Markets’ own complaints policy names no external body.
Independent complaint outcomes show no adverse pattern 31
The ombudsman has published no decisions about FXOpen in the last three years, so there are no outcomes to judge.
Complaint data is disclosed 32
We found no complaint statistics published by FXOpen, and FXOpen Ltd is below the thresholds for the FCA’s and the ombudsman’s firm-level tables.
Criteria and their weighting are explained in the methodology.
Whether costs, execution and risks are disclosed before you sign up.
Costs are disclosed before account opening 111233343536
FXOpen publishes its ECN commissions by account tier and asset class, and its terms and pages set out inactivity fees (USD 10 a month in the UK and internationally, EUR 10 in the EU). Swap rates are shown only in the trading platform, and the terms do not quantify currency conversion charges.
An order execution policy is published 11133738
FXOpen EU publishes an order execution policy, which says it is the counterparty and sole execution venue for client trades, and a conflict of interest policy. The UK terms refer to an execution policy and a conflicts policy on the website, but the UK legal page publishes neither, and we found no execution policy for the Nevis company.
Criteria and their weighting are explained in the methodology.
Whether public claims hold up and the firm communicates openly.
Marketing claims are accurate and attributable 411171921233739
FXOpen’s pages say its accounts connect traders to the interbank market with no intervention from FXOpen, and the international site calls it “a true ECN technology broker, so there’s no conflict of interest”, but FXOpen EU’s execution policy says it is the counterparty to every trade and FXOpen Ltd’s disclosures say it deals as principal. The international home page gives figures such as more than a million registered traders without a source, and the UK terms understate FSCS cover at £50,000.
An address and working contact channels are published 13121314304041
Addresses, emails and telephone numbers are published; the UK registered office matches Companies House and the EU address matches CySEC’s register. The Nevis company’s website and documents give three different addresses in Charlestown.
Material changes are communicated 1011121718
The UK terms give ten days’ notice of changes and FXOpen AU told its clients about the licence cancellation, but the Nevis company can change trading conditions on two days’ notice and the EU terms let FXOpen EU change fees without notice. Several documents are out of date: the UK terms still give the FSCS limit that applied before 2019, and the UK regulatory disclosure uses 2021 figures.
Criteria and their weighting are explained in the methodology.
What our visit confirmed in person: a real, staffed office of the assessed entity, not a ghost address.
We have not checked this firm’s office in person, so this dimension scores zero. We check offices through our on-site verification programme.
Real office at the stated address, not a ghost address
Office of the assessed entity
Staffed and operating
Criteria and their weighting are explained in the methodology.
What our on-site checks and 30-day platform testing found.
We have not completed an on-site assessment of this firm, so this dimension does not count and its weight is shared among the others.
Company identity
Regulatory claims
Office visit
Account opening
Platform usability
Costs and disclosures
Customer support
Deposits and withdrawals
Trading functions
Complaints process
Criteria and their weighting are explained in the methodology.
A brand can trade through several companies, each licensed in a different place with different protections. Check which entity your account would be with.
Financial Conduct Authority (FCA) · Reference 579202 1
FXOpen states this FCA number. The firm is not in the FCA’s list of investment firms (data as at 6 October 2026), and the FCA register page needs a browser, so we could not confirm its status.
Cyprus Securities and Exchange Commission (CySEC) · Reference 194/13 3
Reception and transmission of orders, execution of orders and dealing on own account in financial instruments 1 to 10 (which include CFDs); safekeeping, credit and foreign exchange as ancillary services
Licence granted on 17 April 2013. Approved domain www.fxopen.com.
No licence recorded for this entity.
Australian Securities and Investments Commission (ASIC) · Reference AFSL 412871 5
Issuing CFDs and foreign exchange contracts (as described by ASIC)
ASIC cancelled the licence, held since 12 December 2011, in September 2024. FXOpen AU applied to the Tribunal for a review on 25 September 2024, and we found no published decision. The licence is not in ASIC’s dataset of current licensees (October 2026).
No licence recorded for this entity.
Warnings, enforcement actions, legal findings, allegations and complaint records are labelled separately. What each label means.
On 4 September 2024 ASIC announced that it had cancelled the Australian financial services licence of FXOpen AU Pty Ltd, held since 12 December 2011, after an investigation identified serious concerns about the inadequacy of its human resources to provide financial services and carry out supervisory arrangements. ASIC found that FXOpen AU had failed to maintain competence to provide the services covered by its licence, to comply with the “key person” condition on its licence and to comply with financial services laws. FXOpen AU applied to the Tribunal for a review of the decision on 25 September 2024. We found no published Tribunal decision; the licence is not in ASIC’s current licensee data, and FXOpen AU tells clients it is taking no new clients. Because the review application is the latest official record we found, this finding is treated as under appeal and does not affect the score.
On 29 July 2024 CySEC decided that the influence exercised by Aliaksandr Klimenka, as sole indirect shareholder of FXOpen EU Ltd, was prejudicial to the sound and prudent management of the firm. It suspended the voting rights attached to his shares, held through FXOpen Ltd, with effect six months after the decision, to give the firm time to find solutions. CySEC announced the decision on 29 October 2024; its list of decisions shows no judicial review.
An indictment unsealed in the United States in late January 2024 and announced by the Justice Department on 1 February 2024 charges Aliaksandr Klimenka, FXOpen’s ultimate controlling party, with conspiracy to commit money laundering and operating an unlicensed money services business. It alleges that between 2011 and July 2017 he controlled the BTC-e digital currency exchange with others, and that he also controlled Soft-FX and FX Open. He was arrested in Latvia in December 2023. The court denied his motion to dismiss in June 2025 and has set the trial to start on 16 November 2026. FXOpen Ltd’s 2024 accounts describe an ongoing legal action against the owner that is unrelated to the group. An indictment is an allegation, so this is recorded for context and does not affect the score.
The CVM’s dataset records Ato Declaratório 15.291 of 7 October 2016 against FXOpen Markets Limited, a stop order on offering securities intermediation services in Brazil, published in the official gazette on 10 October 2016. We found no CVM news release about it.
Firms can respond to their profile and to any finding. No response has been published for FXOpen. How firms can respond.
| Review date | Result | Methodology | Status |
|---|---|---|---|
| 7 Oct 2026 | Trust score 75 out of 100 Sound | 1.2 | Current |
No corrections have been made to this profile.
The footer says FXOpen UK is a trading name of FXOpen Ltd, registered in England and Wales under company number 07273392 and authorised and regulated by the FCA under firm reference number 579202, with its registered address at 3rd Floor Waverley House, 7-12 Noel Street, London W1F 8GQ, and warns that 60% of retail investor accounts lose money when trading CFDs with this provider. The site’s Middle East (fxopen.com/en-ae) and Asia Pacific (fxopen.com/en-hk) versions carry the same FXOpen Ltd footer and warning.
The list of FCA investment firms, with data as at the close of business on 6 October 2026, does not include FXOpen Ltd or FRN 579202.
Licence 194/13 granted on 17 April 2013, company registration 310300, previous names AMB Prime Ltd and Valutrades CY Ltd, address 38 Spyrou Kyprianou Street, CCS Building, Office N101, 4154 Limassol, approved domain www.fxopen.com. Authorises reception and transmission of orders, execution of orders and dealing on own account in financial instruments 1 to 10, with safekeeping, credit and foreign exchange as ancillary services, and cross-border services to other EEA states.
The footer says FXOpen INT is a trading name of FXOpen Markets Limited, a company registered in Nevis under number C 42235, gives a general risk warning without a loss percentage and names no regulator. The home page says “We are a true ECN technology broker, so there’s no conflict of interest” and gives figures without a source: more than a million registered traders, 3.9 million open accounts and 786,000 trades placed.
ASIC cancelled the AFS licence of FXOpen AU Pty Ltd, held since 12 December 2011, after an investigation identified serious concerns about the inadequacy of its human resources to provide financial services and carry out supervisory arrangements, and found failures to maintain competence, to comply with the “key person” condition on its licence and to comply with financial services laws. An editor’s note says FXOpen AU applied to the Tribunal on 25 September 2024 for a review of the decision. The release shows no later update.
Announced on 29 October 2024: on 29 July 2024 CySEC decided that the influence exercised by Aliaksandr Klimenka, as sole indirect shareholder of FXOpen EU Ltd, is prejudicial to its sound and prudent management, and suspended the voting rights attached to his shares, held through FXOpen Ltd, with effect six months later to give the firm time to find solutions. CySEC’s list of board decisions shows no judicial review.
ASIC’s dataset of current licensees, downloaded on 7 October 2026, has no entry for AFSL 412871 or for FXOpen AU Pty Ltd.
Active Australian private company (ACN 143 678 719), with its ABN active from 19 May 2010 and its main business location in WA 6000.
Says FXOpen EU is a trading name of FXOpen EU Ltd, authorised and regulated by CySEC under licence 194/13 with a cross-border licence for EU member states, and warns that 75% of retail investor accounts lose money when trading CFDs with this provider. fxopen.com sends visitors from Cyprus to this version.
A notice dated 11 September 2024 tells clients that ASIC has cancelled FXOpen AU’s AFS licence, that FXOpen AU cannot provide financial services except in limited circumstances such as closing out client positions and keeping dispute resolution and compensation arrangements in place, and that it is not taking on new clients. fxopen.com/en-au redirects to this page.
Retail client money is treated under the FCA’s client money rules, segregated from FXOpen’s own money and excluded from its assets on insolvency; it is held with a UK bank but may be held outside the UK. Professional clients’ money passes to FXOpen by title transfer. FXOpen acts as principal in all non-ECN transactions. Retail clients have negative balance protection and positions are stopped out at 50% of margin. FXOpen will endeavour to pay withdrawals within two business days of accepting the instruction and debits payment charges. Dormant accounts are charged USD 10 a month after six months without activity, and currencies are converted at prevailing market rates plus FXOpen’s costs. Complaints go to the compliance officer at 4th Floor, 80 Coleman Street, London, and eligible clients can refer them to the Financial Ombudsman Service. Clause 36 puts maximum FSCS compensation at £50,000. Amendments take effect ten days after written notice. The terms refer to a Trade and Order Execution Policy and a Conflicts of Interest policy available on the website.
Agreement with FXOpen EU Ltd (HE 310300, 38 Spyrou Kyprianou Street, Limassol), licensed by CySEC under number 194/13. Client money is segregated under CySEC Directive DI87-01, may be held in omnibus accounts and may be passed to third parties outside Cyprus. Retail clients have negative balance protection and are covered by the Investor Compensation Fund, of which the company is a member. Complaints are acknowledged within five working days and answered within two months. Accounts with no login for twelve months are charged EUR 10 a month. Fees, commissions and charges may be changed without prior notice, and leverage and margin requirements without notice. Either party may end the agreement on five business days’ written notice.
Agreement with FXOpen Markets Limited (Nevis company C 42235, P.O. Box 590, Springates East, Government Road, Charlestown), dated 1 June 2021. FXOpen executes orders through its ECN/STP trading system and “holds the multi-currency exposure” corresponding to customers’ transactions. The agreement contains no terms on segregating client money or on negative balance protection.
Incorporated on 4 June 2010, registered office 3rd Floor Waverley House, 7-12 Noel Street, London W1F 8GQ. Directors: Alexey Stepanov (since 4 June 2010) and Gary Michael Thomson (since 9 January 2012). Aliaksandr Klimenka, a Cypriot national living in Cyprus, has been the person with significant control since 6 April 2016, holding 75% or more of the shares and voting rights and the right to appoint and remove directors. Accounts are filed up to 31 December 2024.
Audited by Fisher, Sassoon & Marks, whose unmodified opinion draws attention to a material uncertainty about the company’s ability to continue as a going concern; the notes link it to an ongoing legal action against the ultimate beneficial owner, which they describe as unrelated to the group. Group turnover was £670,642, the loss for the year £266,648 and net assets £1,113,122. Customer funds are held in segregated accounts at a UK regulated clearing bank, and client positions are hedged with a liquidity provider. FXOpen Ltd held 95% of FXOpen EU Ltd and all of FXOpen Middle East Ltd (DIFC). It sold 5% of FXOpen EU to Prometheus Holding Ltd of Gibraltar, wholly owned by director Alexey Stepanov, on 31 December 2024; on 4 April 2025 FXOpen EU applied to CySEC for approval of Prometheus’s purchase of the remaining 95%, and on 5 May 2025 FXOpen Middle East was sold to Prometheus. The notes name Aliaksandr Klimenka as ultimate controlling party, record management fees charged to FXOpen Markets Limited, a Nevis company connected through him, and show deposits with the Cyprus Investor Compensation Fund. The PDF is a scan, read by text recognition and checked against the page images.
Prepared in May 2026 on the basis of audited accounts as at 31 December 2025. Says the company is a subsidiary of FXOpen Ltd and of a holding company, Prometheus Holding Ltd. Board in 2025: Alexey Stepanov and Ioannis Koutelakis (executive directors), Ioannis Papapetrou and Georgios Kambourides (independent non-executive directors). Own funds were about EUR 0.79 million against a permanent minimum capital requirement of EUR 750,000, and its capital ratios were 103.5%, above the regulatory minimums.
Says FXOpen Ltd deals in financial instruments as principal using the matched principal exemption and is a standalone UK firm for capital purposes, and reports Tier 1 capital of £2,273,000 based on figures as at 31 December 2021. It is the only regulatory disclosure on the UK legal page.
If a stop out leaves a negative balance, the customer “remains fully liable for this loss” and the company may recover it through legal proceedings. Leverage depends on the account deposit and can be changed without notice, and the company may change trading conditions on two calendar days’ written notice. Complaints must be emailed to compliance@fxopen.com within one business day of the event.
Says all FXOpen accounts are ECN accounts in which “the counterparty to your trade is a liquidity provider such as a bank, fund, or another trader”, with “no intervention from FXOpen, no dealing desk and no requotes”; that client funds are segregated under the FCA’s client asset rules and held in segregated accounts at Barclays Bank Plc; and that retail client funds are protected up to £85,000 by the FSCS. Retail leverage is up to 1:30 on major currency pairs, and professional clients can have up to 1:500.
Describes the Investor Compensation Fund for clients of Cyprus investment firms that are not credit institutions. Covered non-professional clients can claim the lower of 90% of their covered claims and EUR 20,000 if a member firm cannot meet its obligations.
For investment firms that failed after 1 April 2019, the FSCS pays up to £85,000 per eligible person, per firm. The £120,000 limit, from December 2025, is for deposits.
The Financial Commission, a private dispute resolution organisation, lists FXOpen as an active member registered on 1 September 2013, with a link to fxopen.com/en and a compensation fund of EUR 20,000 per complaint.
Says client funds are held in segregated accounts at a Cyprus bank, that FXOpen EU is a member of the Investor Compensation Fund, and that all accounts are ECN accounts whose orders “will be filled in the interbank market”, where “everyone on the ECN can act as both liquidity providers and liquidity receivers”. Retail leverage is up to 1:30 on major currency pairs, and professional clients can have up to 1:500.
Withdrawal forms received before 12:00 GMT are processed the same business day; bank transfers usually take one to three business days and card withdrawals two to five. The page refers clients to the MyFXOpen client area for the available funding and withdrawal options and current fees, and says international transfer fees charged by FXOpen’s bank are passed on. The EU and international funding pages give the same processing rule.
Records Ato Declaratório 15.291 of 7 October 2016 against FXOPEN MARKETS LIMITED, published in the official gazette on 10 October 2016.
Read from an Internet Archive copy taken on 4 October 2026, because justice.gov put our request through a bot check. The release of 1 February 2024 says an indictment unsealed that week charges Aliaksandr Klimenka, a Belarusian and Cypriot national, with money laundering conspiracy and operating an unlicensed money services business. It alleges that between 2011 and July 2017 he controlled the BTC-e digital currency exchange with Alexander Vinnik and others, and that he also controlled Soft-FX, a technology services company, and FX Open, a financial company. He was arrested in Latvia on 21 December 2023 at the request of the United States. The release says an indictment is merely an allegation and defendants are presumed innocent.
On 7 October 2026 we searched CySEC’s 1,173 board decisions, the FCA’s list of investment firms and its warnings, ASIC’s licensee data and media releases, the CVM’s declaratory acts, the Japan FSA’s list of warned unregistered firms (25 September 2026), KNF’s lists and the Indian, Securities Commission Malaysia and Bank Negara Malaysia alert lists (as downloaded on 4 October 2026), and ran web searches for actions by other regulators. We found CySEC’s 2024 decision on FXOpen EU’s owner, ASIC’s 2024 cancellation of FXOpen AU’s licence, the CVM’s 2016 stop order and the US indictment of the owner. FCA warnings about firms using FXOpen’s name concern impersonators and are not findings about FXOpen.
An internal policy for staff, with a version history ending in April 2013, describing how complaints are recorded and acknowledged in writing under the FCA’s dispute resolution rules, with a final response within eight weeks and referral to the Financial Ombudsman Service.
Version 3 of August 2020. Complaints are made on a form sent to the head office at 38 Spyrou Kyprianou Street, Limassol, or to compliance@fxopen.eu; they are acknowledged within five business days and answered within two months, or at most three. Clients who are not satisfied can refer the complaint to the Financial Ombudsman of the Republic of Cyprus.
Complaints go by email or ticket and must be made within one business day of the event; the policy sets no response times. Clients who are not satisfied are told they may seek independent legal advice, and no external dispute body is named. It gives the address Lighthouse Trust Nevis Ltd. of Suite 1, A.L. Evelyn Ltd, Main Street, Charlestown, Nevis.
The ombudsman’s decision search lists no business named FXOpen, and a keyword search for FXOpen in decisions published between 4 October 2023 and 4 October 2026 returned no results.
Neither dataset includes FXOpen Ltd; both publish firm-level figures only above minimum complaint volumes.
Four ECN account tiers with floating spreads from 0.0 pips and FX commission of USD 3.50, 2.50, 1.80 or 1.50 per lot per side depending on equity and traded volume, no commission on index CFDs, a percentage of notional value on commodity CFDs and 0.1% per side on share CFDs. Minimum deposit £300, $300 or €300; leverage up to 1:30; margin call at 100% and stop out at 50%.
Lists ECN commissions by account balance and traded volume for FX, index and commodity CFDs, and discounted rates on TickTrader. For swap rates it tells clients to open the instrument specification in the trading platform.
ECN account in EUR or USD with a minimum deposit of €300 or $300, floating spreads from 0 pips, commission from $1.50 per lot, leverage up to 1:30, margin call at 100% and stop out at 50%.
ECN accounts with FX commission of USD 3.50 to 1.50 per lot per side by tier, commission on crypto, commodity and share CFDs as a percentage, a minimum deposit of USD 100, leverage up to 1:500, margin call at 100% and stop out at 50%, and an inactive account fee of USD 10 a month.
Says the company is always the counterparty (principal) to every trade and the sole execution venue, so positions can only be closed with it. Prices are based on quotes from third-party liquidity providers, instant orders may be requoted, and market orders are filled at a volume-weighted average of the liquidity available.
Version 4 of August 2020. Sets out how the company identifies conflicts of interest between itself, its staff and clients and the organisational arrangements it uses to manage them.
Says all accounts operate the ECN model “to connect traders directly to the interbank market” with “no intervention from FXOpen”, and gives maximum leverage of 1:500 on forex and metal CFDs; on MetaTrader, 1:100 on index CFDs, 1:5 on share CFDs and 1:3 on crypto CFDs.
Gives customer support hours, an email address and the telephone number +44 203 519 1224, and the office address 80 Coleman Street, London EC2R 5BJ.
Gives live chat, a ticket system, a trading desk telephone number and the address Lighthouse Trust Nevis Ltd. of Suite 1, A.L. Evelyn Ltd, Main Street, Charlestown, Nevis.
Filed on 9 December 2025. Records that Klimenka is charged with one count of operating, and aiding and abetting the operation of, an unlicensed money services business and one count of conspiracy to commit money laundering, and that the indictment alleges he controlled SOFT-FX and FX OPEN. An earlier order, filed on 9 June 2025, denied his motion to dismiss the indictment.
On 26 June 2026 the court granted the defendant’s unopposed request to continue the trial, setting the pretrial conference for 3 November 2026 and the start of the trial for 16 November 2026.
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