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FXOpen Exposed 2025: Dual-Licensed Broker Operating Offshore & Delaying Withdrawals
FXOpen brands itself as a trusted broker since 2005, but our findings at ScamBrokersReview.com reveal a pattern of dual-entity deception — part regulated, part offshore — resulting in unprotected trading for most clients worldwide.
🏛️ 1. Company Structure
FXOpen operates via three entities:
- FXOpen UK Ltd (FCA-regulated)
- FXOpen AU Pty Ltd (ASIC-regulated)
- FXOpen Markets Ltd (Offshore, St. Kitts & Nevis)
However, clients from Asia, Africa, and Latin America are routed to the offshore entity, not the FCA or ASIC ones.
That means no compensation scheme, no regulatory protection, and no recourse.
2. Complaints & Red Flags
- WikiFX: 2.5 / 10 – “Complex structure, inconsistent regulation.”
- Trustpilot: Reports of delayed withdrawals and suspicious slippage.
- Forex Peace Army: Dozens of users accuse FXOpen of unfair trading manipulation.
FXOpen also refuses to provide clarity on which entity handles each client’s funds.
3. Typical Scam Pattern
- Promotes FCA/ASIC branding on the homepage.
- Signs up global clients through the offshore domain.
- Blocks withdrawals for “compliance reviews.”
- Freezes accounts after profitable trades.
The “regulated” image hides a very different operational reality behind the scenes.
4. Offshore Entity = Zero Oversight
FXOpen Markets Ltd (St. Kitts & Nevis):
- Is not regulated by any financial body.
- Can legally deny withdrawals without consequence.
- Holds client funds without segregation.
That makes it a high-risk environment for any non-UK trader.
5. Comparison: FXOpen vs Real Regulated Brokers
| Feature | Regulated Broker | FXOpen |
|---|---|---|
| Licensing | FCA, ASIC | FCA/ASIC + Offshore |
| Fund Protection | Yes | Partial |
| Transparency | High | Minimal |
| Withdrawals | Reliable | Often delayed |
| Oversight | Active | Weak / Offshore |
🧠 6. What Traders Should Do
- Verify which entity you’re registered under.
- Stop depositing if your account is offshore.
- Save all correspondence.
- File a complaint with your regulator.
- Post your story on Trustpilot and Forex Peace Army.
- Read our recovery guide: How to Recover Funds from Scam Brokers.
✅ 7. Final Verdict
FXOpen uses its long-standing name and FCA/ASIC branding to attract traders globally, only to route most of them offshore.
This hybrid structure allows it to act freely outside real supervision.
Verdict: FXOpen is a semi-legit broker exploiting offshore loopholes — unsafe for non-EU clients.
