FXOpen is a forex and CFD broker regulated by the FCA in the UK, with an offshore arm in Nevis for clients elsewhere; its Australian licence was cancelled by ASIC in 2024. Instead of a deposit credit, it leans on a commission cashback program that refunds 15% of the commission paid on ECN accounts, which is withdrawable. It also hosts the annual ForexCup Trading Championship, a live-account contest with a large prize for the top performers.
Risk warning: Trading carries a high risk of losing money, especially with leveraged products such as CFDs. A bonus does not reduce that risk. Only deposit what you can afford to lose.
FXOpen
FXOpen refunds 15% of the trading commission on ECN and Crypto accounts during the first 90 days after registration, credited automatically and withdrawable right away.
FXOpen
FXOpen's annual ForexCup Trading Championship ranks live ECN accounts by trading performance, with a $50,000 cash prize for first place.
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FXOpen traces its roots to 2003, when it started as a trading education center, before launching brokerage services in 2005. Today it operates as a group of separately regulated entities: FXOpen Ltd in the UK, FXOpen EU Ltd in Cyprus, and FXOpen INT, a trading name of FXOpen Markets Limited registered in Nevis, for clients outside the UK and EU.
The company has been through a significant regulatory setback. In September 2024, Australia's securities regulator ASIC cancelled the AFS licence held by FXOpen AU Pty Ltd, citing inadequate staffing to meet its supervisory obligations. FXOpen AU said it would appeal the decision, and no confirmed reinstatement appears in official ASIC releases, so traders relying on an ASIC-regulated FXOpen entity should verify its current status directly with ASIC.
FXOpen Ltd is authorized and regulated by the UK's FCA (579202) and continues to serve retail clients, with client funds segregated and covered by the FSCS up to £85,000. FXOpen EU Ltd holds a CySEC licence (194/13), though CySEC's register lists a voting-rights suspension noted against the firm's ownership structure, a governance flag worth knowing about rather than a trading restriction.
Outside the UK and EU, the brand trades as FXOpen INT through FXOpen Markets Limited, registered in Nevis. Nevis does not license or supervise forex brokers the way the FCA or CySEC do, so clients of that entity are trading with a company that is legally registered there but not meaningfully regulated there. The offshore entity is typically the one offering the higher leverage, lower account minimums and promotions, under different investor-protection rules than the UK or EU arms.
FXOpen markets itself as an ECN broker with over 700 tradable instruments across five asset classes: 50-plus forex pairs, 600-plus stock CFDs, index CFDs, commodities and a few dozen cryptocurrency CFD pairs depending on the platform.
Platform support varies by account and region. ECN accounts trade on MT4, MT5 and TickTrader, FXOpen's own multi-asset platform, with TradingView integration also offered. On the FCA-regulated UK entity, ECN accounts are tiered by trading volume, starting at a minimum deposit of roughly $300 with commission from about $3.50 per standard lot, scaling down at higher tiers. The Nevis entity advertises a lower ECN entry point, commonly around $100, plus an STP account with little to no minimum deposit that carries no separate commission but wider spreads.
Because the FCA and CySEC both restrict trading bonuses for retail clients, FXOpen's promotional activity runs almost entirely through the offshore Nevis entity. The clearest current example is its cashback program: a 15% refund on the commission paid on ECN and crypto account trades for the first 90 days after registering. It applies automatically with no promo code, covers winning and losing trades alike, and pays into a withdrawable account. The real-world value is modest despite marketing framing of up to $1,000: cashback is capped at $100 per trade and $1,000 total, with a $5 minimum, so it functions as a short-term discount on trading costs rather than a deposit bonus.
FXOpen also runs the ForexCup Trading Championship, an annual contest on live ECN accounts with a $50,000 top prize. Entry requires a live account funded with at least $5,000 and at least 10 completed round-turn trades over the year; US residents are excluded. The catch that matters most: per ForexCup's published rules, any prize over $1,000 cannot be withdrawn as cash and must instead be used to fund a PAMM money-manager account with FXOpen, so the headline figure is not a cash payout in the way it may appear.
FXOpen has also run shorter-term offers historically, including no-deposit welcome bonuses on STP accounts, but these appear and expire on a campaign basis rather than as standing offers, so check the current FXOpen INT site before assuming they apply.
Opening a live account requires standard identity and address verification before withdrawals are permitted; FXOpen states it aims to complete checks within about one business day, with a formal allowance of up to 10 business days for more involved due diligence. Withdrawal requests submitted before 12:00 GMT are typically processed the same business day.
Available withdrawal methods differ by entity: the FCA and CySEC arms lean on bank transfer, cards and major e-wallets, while the offshore entity's options skew toward regional processors and cryptocurrency, reflecting the more limited banking relationships typical of offshore brokers. Funds must generally be withdrawn back to the original deposit source first, a standard anti-money-laundering practice.
Yes, in part. FXOpen Ltd is FCA-regulated in the UK (579202) and FXOpen EU Ltd holds a CySEC licence (194/13). The Nevis-registered FXOpen INT entity, which most non-UK/EU clients and most promotions run through, is not meaningfully regulated by any government agency. FXOpen AU's ASIC licence was cancelled in September 2024.
Yes. ASIC cancelled FXOpen AU's licence in September 2024, citing inadequate staffing and failure to meet supervisory obligations. FXOpen said it would appeal; no confirmed reinstatement has been found in official ASIC records.
It depends on the entity and account. The FCA-regulated UK ECN account starts around $300. The offshore FXOpen INT entity advertises a lower ECN entry point, commonly around $100, and an STP account with little to no minimum deposit.
MT4, MT5 and FXOpen's own TickTrader platform, with TradingView integration also available. Crypto-denominated accounts are typically limited to MT4.
It refunds 15% of commission on ECN and crypto account trades for the first 90 days after registration, credited automatically and withdrawable without a turnover requirement. But it is capped at $100 per trade and $1,000 total, so treat it as a modest short-term discount on trading costs rather than a large bonus.
Not in full. Under ForexCup's published rules, any portion of a prize above $1,000 must be used to fund a PAMM money-manager account with FXOpen rather than withdrawn as cash. Only the amount under $1,000 can be cashed out directly.