FXOpen UK Closes Client Accounts and Seeks to Cancel FCA Licence
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 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.
FXOpen was contacted for comment on the closure of its UK operation and its application to cancel its FCA permissions, but no response had been received at the time of publication.
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.
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 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.
FXOpen was contacted for comment on the closure of its UK operation and its application to cancel its FCA permissions, but no response had been received at the time of publication.
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.