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FXOpen UK Closes Client Accounts and Seeks to Cancel FCA Licence

Thursday, 22/10/2026 | 17:41 GMT by Tareq Sikder
  • The firm stopped accepting new UK clients after setting September deadlines for existing customers to exit.
  • The FCA has yet to approve FXOpen UK's application to cancel its regulatory permissions.
Screenshot of FXOpen’s website
Screenshot of FXOpen’s website

FXOpen Ltd, the UK entity of forex and contracts for difference broker FXOpen, has closed its client accounts and applied to the Financial Conduct Authority to cancel its regulatory permissions.

The broker's UK website states that all “client accounts are closed” and asks customers to withdraw any remaining funds through the Client Portal. It is no longer accepting new account applications.

FXOpen UK Exit Deadlines Pass, FCA Approval Pending

FXOpen had previously set deadlines for retail and professional clients to close their positions and withdraw funds. The deadlines were 16 September and 21 September 2026, respectively. Both have passed.

The closure of the trading operation does not mean the FCA has approved the cancellation of the firm's authorisation. FXOpen Ltd remains listed on the regulator's register.

The FCA requires firms seeking to cancel their authorisation to stop carrying out regulated activities and address outstanding liabilities and customer interests. Submitting an application does not confirm that the regulator has approved the cancellation.

Finance Magnates has contacted FXOpen for comment on the closure of its UK operation and the application to cancel its FCA permissions. No response had been received at the time of publication.

Source: FCA
Source: FCA

FXOpen UK Closure Follows Regulatory Scrutiny

The UK operation's closure comes amid separate regulatory and legal developments involving Aliaksandr Klimenka, a person with “significant control” of FXOpen Ltd. US authorities charged him in February 2024 with money laundering conspiracy linked to the BTC-e cryptocurrency exchange . His trial is scheduled for November 2026.

In October 2024, Cyprus's financial regulator, CySEC, also decided to suspend Klimenka's voting rights in FXOpen EU Ltd. The regulator said his influence over the company was prejudicial to its sound and prudent management. No available information establishes a link between these developments and the UK operation's closure.

FXOpen Ltd, the UK entity of forex and contracts for difference broker FXOpen, has closed its client accounts and applied to the Financial Conduct Authority to cancel its regulatory permissions.

The broker's UK website states that all “client accounts are closed” and asks customers to withdraw any remaining funds through the Client Portal. It is no longer accepting new account applications.

FXOpen UK Exit Deadlines Pass, FCA Approval Pending

FXOpen had previously set deadlines for retail and professional clients to close their positions and withdraw funds. The deadlines were 16 September and 21 September 2026, respectively. Both have passed.

The closure of the trading operation does not mean the FCA has approved the cancellation of the firm's authorisation. FXOpen Ltd remains listed on the regulator's register.

The FCA requires firms seeking to cancel their authorisation to stop carrying out regulated activities and address outstanding liabilities and customer interests. Submitting an application does not confirm that the regulator has approved the cancellation.

Finance Magnates has contacted FXOpen for comment on the closure of its UK operation and the application to cancel its FCA permissions. No response had been received at the time of publication.

Source: FCA
Source: FCA

FXOpen UK Closure Follows Regulatory Scrutiny

The UK operation's closure comes amid separate regulatory and legal developments involving Aliaksandr Klimenka, a person with “significant control” of FXOpen Ltd. US authorities charged him in February 2024 with money laundering conspiracy linked to the BTC-e cryptocurrency exchange . His trial is scheduled for November 2026.

In October 2024, Cyprus's financial regulator, CySEC, also decided to suspend Klimenka's voting rights in FXOpen EU Ltd. The regulator said his influence over the company was prejudicial to its sound and prudent management. No available information establishes a link between these developments and the UK operation's closure.

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About the Author: Tareq Sikder
Tareq Sikder
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About the Author: Tareq Sikder
Tareq is a financial writer with 15 years of experience covering global markets. His work spans technical analysis, forex broker reviews, and market sentiment, with a focus on topics relevant to retail traders. He joined Finance Magnates in 2023. At Finance Magnates, he serves as News Editor, covering retail forex and CFD brokers, cryptocurrency exchanges, fintech firms, and regulatory developments shaping the trading industry. He holds an Honours degree in Information Technology from Anfell College, London. Education: Honours degree Information Technology, Anfell College, London
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