FXOpen

FXOpen broker is a forex broker that has been operating since 2005, and Teagle's data lists its country as the United Kingdom. Focusing on a True ECN model and operating with no dealing desk (NDD), FXOpen offers a platform for traders who want direct order execution and genuine access to market liquidity. In this overview, we have reviewed FXOpen based on Teagle's data.

What kind of broker is FXOpen?

FXOpen has about 21 years of history, and by removing the conflict of interest through the NDD model, it offers good conditions for speed-driven strategies such as scalping and algorithmic trading. According to Teagle's table, more than 700 instruments are available, including forex, indices, commodities, stocks, crypto and ETFs. Scalping and hedging, the use of expert advisors, trading during news and phone trading are all listed in Teagle's tags. If you are not familiar with the differences between order execution models, read the article What are B-Book and A-Book brokers .

FXOpen broker licenses and credibility

Teagle's list of licenses records two active, valid licenses for FXOpen:

• UK FCA (No. 07273392), active;
• Cyprus CySEC (No. 194/13), active.

Both are top-tier regulators, and Teagle's expert counts "reputable regulation" among this broker's advantages. However, according to the expert's assessment, Iranians are served through the offshore route; that is, Iranian users are not protected by the FCA or CySEC. To understand this difference, see the article The difference between offshore and onshore brokers .

Does FXOpen serve Iranians?

Teagle's data is not consistent on this. Teagle's expert considers FXOpen a notable option for Iranian traders fluent in English and mentions that Iranians are served through the offshore route, yet the list of disadvantages includes "no service for Iranians." What is certain: there is no Persian support, communication with support must be in English, and accessing the website from Iran requires changing your IP. Before signing up, ask the broker directly whether it accepts Iranian users and which entity will register your account.

FXOpen trading accounts

All FXOpen accounts are ECN accounts with spreads from zero, leverage up to 1:500, a 100% margin call, a 50% stop-out and an Islamic version, and they have no requotes. They differ in minimum deposit and commission:

• Basic ECN: Minimum deposit of $100 and a commission of $3.5 per lot.
• Classic ECN: Minimum deposit of $1,000 and a commission of $2.5.
• Advanced ECN: Minimum deposit of $250,000 and a commission of $1.8.
• Elite ECN: Minimum deposit of $250,000 and a commission of $1.5.

Low commissions and raw spreads make FXOpen attractive to scalpers; the articles Scalping in forex and Introduction to ECN accounts help you gauge the real cost. The minimum deposit for the advanced accounts, however, is very high for most retail traders.

The TickTrader platform and FXOpen services

According to Teagle's table, trading is done only on the proprietary TickTrader platform, which has Windows, web, Android, iOS and Huawei AppGallery versions. Additional services include PAMM, expert advisors and bots, VPS (stated as free in the broker's profile), a trading API, an IB program, education, an economic calendar, cashback and rebates. If you are interested in algorithmic trading , the API and VPS are two important advantages; for the uses of a virtual server, see the article What is a VPS in forex . Copy trading is not offered.

Deposits and withdrawals at FXOpen

Payment methods include bank wire, Visa and Mastercard cards, Volet, and cryptocurrencies such as Bitcoin, Tether (USDT/USDC), Ethereum, Litecoin and Bitcoin Cash. Crypto deposits are instant (up to 1 hour) and crypto withdrawals are processed the same business day. For Tether, the minimum deposit is 5 units with a 1-unit fee, and the minimum withdrawal is 20 units with a 3-unit fee. Bank wire withdrawals carry a $30 or €15 fee and take 1 to 3 business days; Volet charges a 0.5% fee, and card withdrawals take 2 to 5 business days.

FXOpen's score and risk on Teagle

FXOpen's final score on Teagle is 3.55 out of 5, derived from two sources: Trustpilot 3.7 and WikiFX 3.4; no expert or Teagle user score has been recorded. The Teagle Eye risk index for this broker is 21 out of 100, in the "low to medium risk" category, owing to its FCA and CySEC licenses and 21-year history. See its position in the ranking of low-commission brokers .

Pros and cons of FXOpen broker

• Pro: active FCA and CySEC licenses
• Pro: True ECN model, raw spreads and low commissions
• Pro: scalping, hedging and algorithmic trading allowed
• Con: no Persian support and uncertainty over service to Iranians
• Con: no copy trading or MetaTrader
• Con: high minimum deposit on advanced accounts and bank withdrawal fees

Who is FXOpen suitable for?

In the view of Teagle's expert, FXOpen suits scalpers and day and algorithmic traders who need fast execution and tight spreads. Those who want Persian support or copy trading, and traders sensitive to slippage, are better off looking at other options. For comparison, see it in the FXOpen vs. Tickmill comparison .

Conclusion

FXOpen is attractive to professional traders in terms of licensing and cost structure, but for Iranian users the offshore route and lack of Persian support should be taken seriously. Start with a small amount and a Basic ECN account, make a test withdrawal, and follow the investment risk warnings .