FXOpen

Regulatory & Licensing Information:

Regulatory Status: FXOpen operates under multiple regulatory frameworks: Financial Conduct Authority (FCA) in the United Kingdom: FXOpen Ltd is authorized and regulated by the FCA under license number 579202. Wikipedia Australian Securities and Investments Commission (ASIC): FXOpen AU Pty Ltd is licensed and regulated by ASIC under license number AFSL 412871. Wikipedia Cyprus Securities and Exchange Commission (CySEC): FXOpen EU Ltd is authorized and regulated by CySEC under license number 194/13. Wikipedia These regulatory bodies are considered top-tier, providing a higher level of investor protection. User Reviews and Feedback: User feedback on FXOpen is generally positive: Positive Feedback: Traders commend the broker for its competitive spreads, fast execution speeds, and a wide range of tradable instruments. The availability of multiple trading platforms is also appreciated. Forex Brokers Online Negative Feedback: Some users have reported concerns regarding withdrawal fees and inactivity penalties. Forex Brokers Online Red Flags and Warning Signs: Withdrawal Fees: FXOpen charges withdrawal fees on some e-wallets and bank transfers. Forex Brokers Online Inactivity Fees: A $10 monthly inactivity fee is applied, with a $50 reactivation charge. Forex Brokers Online Conclusion: Given FXOpen's regulation by reputable financial authorities and generally positive user feedback, the broker appears to be a legitimate and reliable option for traders. However, potential investors should be aware of the associated fees and conduct thorough due diligence before proceeding