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Brokers · Review
FxOpen Review (2026)
Is FxOpen a good MT4 broker? An honest, data-led look at the ECN-on-MT4 pioneer — its real costs, platform choice, how it's regulated, who actually serves your account, and the trade-offs to know.
FxOpen is the broker that pioneered ECN trading on MetaTrader 4 back in 2009, and that raw-pricing heritage is still its calling card. The wider group dates to 2005, reports more than a million clients across 700+ markets, and runs a genuinely broad platform line-up — MT4, MT5, TickTrader, TradingView — with raw ECN spreads and crypto CFDs. In this FxOpen review we go past the marketing: what it really costs, the account types, the platforms, deposits and withdrawals, how it's regulated (and which entity actually serves your account), plus where it falls short — so you can decide if it fits. It's regulated through FCA, CySEC, FSA entities, and it does not accept US clients.
This is an editorial review. Our score below is the weighted result of five transparent criteria — regulation & trust, costs, platforms, accessibility, and support & education — explained in full in our editorial policy. The figures in this review are FxOpen's published terms as of 2026; they vary by the FxOpen entity that serves your country and can change, so always confirm the current numbers on FxOpen's site before you act on them.
Our score
Editorial score by Priya Nair, weighted across five criteria. How we score.
| Regulation & trust(30%) | 4.0 |
|---|---|
| Costs(25%) | 4.0 |
| Platforms(15%) | 4.5 |
| Accessibility(15%) | 4.0 |
| Support & education(15%) | 3.5 |
FxOpen at a glance
| Founded | 2005 (group) — ECN on MT4 since 2009 |
|---|---|
| Regulation | FCA, CySEC, FSA (multiple entities; international clients via the offshore arm) |
| Minimum deposit | $10 (STP) · ~$1 (Micro) · ~$100 ECN — UK/EU minimums are higher |
| Spreads from | ~0.0 pips raw (ECN) + commission · ~1.1 pips (STP, no commission) |
| Platforms | MT4, MT5, TickTrader, TradingView |
| Instruments | 700+ markets — forex, indices, commodities, shares, ETFs, crypto CFDs |
| Leverage | 1:30 (UK/EU, FCA/CySEC) up to ~1:500 (international entity) |
| Demo account | TickTrader / MT5 demo — MT4 demos being retired |
| US clients | Not accepted |
| Best for | ECN, Crypto CFDs, Scalping |
FxOpen account types compared
FxOpen's international line-up centres on four accounts. Micro and STP are commission-free with the cost built into the spread — Micro for the tiniest position sizes while you learn, STP as a classic no-commission account. The ECN account is the star: near-zero raw spreads plus a per-lot commission, which favours scalpers and high-volume traders. A separate Crypto account handles crypto CFDs at a percentage fee with much lower leverage. Note that minimums and leverage differ by entity — the UK (FCA) and EU (CySEC) ECN accounts typically require more to open (often around $300) than the international one.
| Account | Min deposit | Spreads from | Commission | Lot size | Best for |
|---|---|---|---|---|---|
| Micro | ~$1 | Floating, in the spread | None (built into spread) | Micro lots (1,000 units) | Absolute beginners testing tiny sizes |
| STP | ~$10 | From ~1.1 pips | None (built into spread) | Standard (100,000 units) | Commission-free trading on classic STP pricing |
| ECN | ~$100 (UK/EU higher, often ~$300) | From ~0.0 pips raw | From ~$1.50/lot (tiered to ~$3.50) | Standard (100,000 units) | Scalpers and active traders wanting raw spreads |
| Crypto | ~$10 | Floating | ~0.25–0.5% per side | 0.01-lot minimum | Crypto CFD traders (leverage capped, ~1:3) |
FxOpen runs separate entities for different regions, and they are not interchangeable. UK and EU residents are onboarded by the FCA or CySEC entity (higher minimums, leverage capped at 1:30, statutory client-money and compensation protections). Most other retail clients are served by FxOpen's offshore international entity (registered in Nevis), which offers the low minimums and higher leverage but is covered by the industry-run Financial Commission rather than a tier-1 regulator. Confirm which entity, account type, and leverage you're eligible for before signing up.
What "ECN on MT4" actually means here
FxOpen's whole pitch rests on the ECN model, so it's worth being precise about what you're buying. An ECN (Electronic Communication Network) account routes your orders to a pool of liquidity providers and shows you their raw, variable spreads — often as tight as 0.0 pips on majors — while the broker takes a separate, transparent commission per lot instead of marking up the spread. That's different from a classic STP or market-maker setup, where the cost is baked into a wider spread and there's no visible commission line. FxOpen was one of the first brokers to bring this model to MetaTrader 4 in 2009, which is why it's still framed as the "ECN-on-MT4 pioneer." The practical upshot: ECN suits scalpers and high-volume traders who want the lowest all-in cost and don't mind a commission, while the commission-free STP and Micro accounts can be simpler for occasional traders. If the term is new to you, our ECN glossary entry breaks it down further.
Costs & fees
On raw cost, FxOpen's ECN account is genuinely competitive. Spreads start from about 0.0 pips and run near 0.2 pip on EUR/USD in normal conditions, with a commission from roughly $1.50 per lot that's tiered — higher (around $3.50 per lot) on smaller balances and falling as your balance grows. That all-in figure holds up well against other raw-spread brokers. The commission-free STP account trades that for wider spreads (from ~1.1 pips), so which account is cheaper depends entirely on how much you trade: at high volume the raw-spread-plus- commission ECN account usually wins, while at low volume the simpler STP spread can be fine. Here's the fuller picture (FxOpen's published figures; confirm current values):
| Cost | What to expect |
|---|---|
| ECN spread (EUR/USD) | From ~0.0 pips raw; typically around 0.2 pip in normal conditions, plus commission |
| ECN commission | From ~$1.50 per lot, tiered up to ~$3.50 per lot on smaller balances — falls as balance rises |
| STP spread (EUR/USD) | From ~1.1 pips, no separate commission (cost is in the spread) |
| Crypto CFD fee | Around 0.25–0.5% per side on crypto positions |
| Overnight swap | Charged on positions held overnight; swap-free (Islamic) accounts available on request |
| Deposit fee | None on most methods; some e-wallets and crypto rails can carry a processing fee |
| Withdrawal fee | Method-dependent — e.g. a ~1% fee on some e-wallets; currency-conversion costs can apply |
| Inactivity fee | Around $10 a month after ~90 days of no trading activity (plus a ~$50 reactivation fee if the account is disabled) |
One caveat on spreads: the "from" figures are best-case. The honest way to compare is the all-in cost on the pairs you actually trade — a raw ECN spread plus commission versus a commission-free STP spread. Work it out with our pip calculator and size trades with the lot size calculator. Also weigh the non-trading fees: an inactivity charge of around $10 a month kicks in after roughly 90 days of no activity, and some withdrawal methods carry a fee or currency-conversion cost — so factor those in if you trade infrequently.
Platforms
FxOpen's platform choice is a real strength. You get the full MetaTrader 4 and MetaTrader 5 terminals on desktop, web, and mobile, plus FxOpen's own TickTrader multi-asset platform and TradingView charting. That covers most traders well — MT4 for its huge ecosystem of indicators and Expert Advisors, MT5 for multi-asset trading, and TickTrader for a more modern in-house experience. ECN pricing and crypto CFDs are available across the MetaTrader and TickTrader options.
The honest gap for MT4 users specifically: FxOpen is steering new accounts toward TickTrader and MT5, and its MT4 demo is being retired (more on that below). Live MT4 trading remains available, but if MetaTrader 4 is the only platform you'll touch, confirm the current MT4 account options before you commit.
Deposits & withdrawals
Funding options depend on your entity. Broadly, FxOpen supports bank wire transfer, credit/debit cards (Visa, Mastercard), e-wallets (Skrill, Neteller, Volet, FasaPay), and crypto rails (Bitcoin, Ethereum) — though the offshore international entity tends to lean on e-wallets and crypto rather than the full card/bank menu. E-wallet and crypto deposits are typically fast; bank wires take roughly 1–3 business days. Withdrawal requests are usually handled within about 24 business hours, then settle to your method. Most deposits are fee-free, but some withdrawal methods carry a fee (for example, around 1% on certain e-wallets), and a currency-conversion cost can apply if you fund in a currency other than your account's base. Check the cashier for the methods available in your country.
Safety & regulation
FxOpen operates through several entities — in our data FCA, CySEC, FSA — and which one holds your account is set by your country of residence. UK residents are served by the FCA-authorised entity and EU residents by the CySEC-authorised one; both bring statutory client-money segregation and, for eligible clients, an investor-compensation scheme. Most other retail clients, however, are onboarded through FxOpen's offshore international entity (registered in Nevis), which is a member of the industry-run Financial Commission — a dispute-resolution body with a compensation fund, but not a tier-1 regulator with statutory protection. In other words, don't assume you're getting FCA or CySEC protection unless you've confirmed you're actually onboarded by that entity. (FxOpen's Australian ASIC entity was wound down in 2024, so it no longer onboards Australian retail clients.) Before depositing, confirm your entity, look up its licence or registration on the relevant register, and read the terms — see our guide to checking a broker is regulated.
Support & education
Support is solid for an ECN-focused broker: multilingual help via live chat, email, and a ticket system, plus a knowledge base covering accounts, funding, and platforms. The extras here lean toward active traders rather than beginners. FxOpen runs PAMM and copy-style features — useful if you want to allocate to (or manage) a strategy — and offers a free VPS to clients who trade enough volume, which matters for anyone running Expert Advisors that need 24/5 uptime. You can read how that fits a wider setup in our MT4 VPS guide.
Where FxOpen is thinner than the big beginner brands is education: there's less of the structured webinar-and-course library you'd get from a broker like XM, and the demo route is now TickTrader/MT5 rather than MT4. Treat any market commentary as general information, not personalised advice. For learning the platform itself, our how to use MT4 guide, the best MT4 indicators rundown, and the install an EA walkthrough fill most of the gap.
How to open an FxOpen account (and demo)
Setting up takes only a few minutes:
- 1. Check your entity and eligibility. Your country sets whether you're onboarded by the FCA/CySEC entity (UK/EU) or the international entity — which in turn sets your minimum deposit, available accounts, and leverage.
- 2. Choose an account. Micro or STP for commission-free trading, ECN for raw spreads plus commission, or the Crypto account for crypto CFDs.
- 3. Decide how you'll practise. FxOpen is phasing out MT4 demo accounts, so a practice account will likely be on TickTrader or MT5 rather than MT4 — confirm current demo availability on FxOpen's site. Live trading can still run on MT4 if you prefer it.
- 4. Verify your identity. Live accounts need ID and proof of address (standard KYC) — a quick, one-time step.
- 5. Fund and log in. Deposit by card, e-wallet, or crypto rail, then sign in with your login number, password, and server — our FxOpen MT4 download guide has the walkthrough.
Pros and cons
Pros
- Genuine ECN/raw pricing — a pioneer of ECN on MT4 since 2009, with a track record from 2005
- Competitive all-in cost: raw spreads from ~0.0 pips plus commission from ~$1.50/lot
- Wide platform choice: MT4, MT5, TickTrader, and TradingView
- Low minimums on the international entity (from ~$1) and crypto CFDs across 700+ markets
- Scalping-friendly conditions, PAMM/copy features, and a free VPS for active traders
- FCA (UK) and CySEC (EU) entities available for clients in those regions
Cons
- Most non-UK/EU clients are served by the offshore entity — Financial Commission cover, not tier-1 protection
- MT4 demo accounts are being retired; new demos route to TickTrader/MT5
- Not available to US residents; no longer onboards Australian retail clients (ASIC entity wound down in 2024)
- Thinner education library than the big beginner-focused brands
- Inactivity fee (~$10/month after ~90 days) and some method-specific withdrawal/conversion fees
- Minimums, leverage, and protections vary a lot by entity — read the terms for yours
Who FxOpen is for
Choose FxOpen if you specifically want genuine ECN conditions on MetaTrader — raw spreads plus a low commission, scalping-friendly execution, crypto CFDs, and a free VPS — with the pedigree of the broker that brought ECN to MT4 in the first place. The low international minimum makes those conditions unusually accessible, and the wide platform choice (MT4, MT5, TickTrader, TradingView) suits traders who like options.
Look more carefully if you're outside the UK or EU and you want tier-1 regulatory protection on your own account — you'll likely be onboarded by the offshore entity, so weigh that against the conditions. If raw ECN cost is your priority, compare FxOpen directly with the field in our best ECN MT4 brokers guide. For traders who value the ECN model and go in with eyes open on which entity serves them, FxOpen remains one of the more credible specialist names on MT4.
Bottom line
FxOpen is a credible, low-minimum choice for traders who specifically want genuine ECN conditions on MetaTrader, with real heritage behind it: raw pricing from ~0.0 pips plus commission, crypto CFDs, a free VPS, and a platform line-up that spans MT4, MT5, TickTrader, and TradingView. The two things to keep front of mind are that most non-UK/EU clients are served by its offshore entity (industry-fund cover, not tier-1 protection), and that MT4 demos are being retired in favour of TickTrader and MT5. Go in clear on both, and for the right trader FxOpen is a strong ECN pick. Still comparing? See where it sits among the best ECN MT4 brokers.
Open an account with FxOpen
Explore FxOpen's genuine ECN pricing, crypto CFDs, and platform choice — then trade live on MetaTrader 4. (MT4 demos are being retired; a practice account may be on TickTrader or MT5.)
⚠ Trading forex and CFDs is high-risk and most retail traders lose money. This is not financial advice.
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Related reviews & guides
Compare the field in our best ECN MT4 brokers and best MT4 brokers guides, or read our IC Markets review and FP Markets review for two other ECN-style options. Ready to set up? Follow the FxOpen MT4 download guide.
Frequently asked questions
Is FxOpen a scam or is it legit?
FxOpen is a legitimate, long-running broker — not a scam. The group dates to 2005 and pioneered ECN trading on MetaTrader 4 in 2009, and it operates regulated entities including the FCA (UK) and CySEC (EU), which you can verify on each regulator's own register. The important nuance: most clients outside the UK and EU are onboarded through FxOpen's international (offshore) entity, registered in Nevis and a member of the industry-run Financial Commission rather than a tier-1 regulator. Regulation status is a baseline, not a guarantee of profit — trading is high-risk and most retail traders lose money.
Is FxOpen regulated and safe?
FxOpen holds FCA (UK) and CySEC (EU) authorisations in our data, plus an offshore international arm. Crucially, the entity you actually sign up with is set by your country: UK and EU residents get the FCA or CySEC entity with its client-money and compensation protections, while most other retail clients are served by the offshore Nevis entity (FXOpen INT), which is covered by the Financial Commission's dispute fund — an industry body, not a regulator with statutory compensation. Confirm which entity onboards you, and look up its licence yourself, before depositing.
What is FxOpen's minimum deposit?
It depends on the account and entity. FxOpen's international entity advertises very low minimums — around $1 on Micro, $10 on STP, and about $100 on the ECN account — while the UK (FCA) and EU (CySEC) ECN accounts typically require more (often around $300). These are FxOpen's published figures; confirm the current minimum for your account type and region on FxOpen's site.
What does it cost to trade with FxOpen?
FxOpen's ECN account is the headline: raw spreads from about 0.0 pips (typically near 0.2 pip on EUR/USD in normal conditions) plus a commission from roughly $1.50 per lot, tiered up to about $3.50 per lot on smaller balances. The STP account is commission-free with wider spreads from around 1.1 pips, and crypto CFDs carry a fee of roughly 0.25–0.5% per side. Watch the inactivity fee (around $10 a month after ~90 days) and method-specific withdrawal costs. These are published figures — confirm the current numbers for your account.
Which platforms does FxOpen support?
FxOpen supports MetaTrader 4 and MetaTrader 5, its own TickTrader platform, and TradingView — a genuinely wide line-up with raw ECN pricing and crypto CFDs. Live trading on MetaTrader 4 is available; note that MT4 demo accounts are being phased out (see below).
Does FxOpen offer an MT4 demo account?
Live MetaTrader 4 trading is available, but FxOpen has been retiring its MT4 demo accounts and now steers new practice accounts to TickTrader and MetaTrader 5. So if you want to demo-trade first, expect a TickTrader or MT5 demo rather than an MT4 one, then run your live account on MT4 if you prefer it. Confirm the current demo options on FxOpen's site, as availability is changing.
What leverage does FxOpen offer?
Leverage depends on the entity that serves you. UK and EU clients under the FCA/CySEC entities are capped at 1:30 on major pairs under ESMA-style rules, while clients under the international entity can access much higher leverage — published as up to 1:500, with higher tiers available to some non-EU clients. Crypto CFDs are capped far lower (around 1:3). Higher leverage magnifies losses as much as gains, so use it cautiously.
Does FxOpen accept US clients?
No. FxOpen does not provide services to residents of the United States. US traders need an NFA/CFTC-regulated broker such as OANDA, tastyfx, or Forex.com.
Trading foreign exchange and contracts for difference (CFDs) carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. You could lose some or all of your deposited funds; do not trade with money you cannot afford to lose. Past performance is not indicative of future results. Nothing on MT4Download.com is financial, investment, or trading advice. Consider your circumstances and seek independent advice if needed.