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Client access has ended, but authorisation remains
FXOpen Ltd, the UK entity of forex and contracts for difference broker FXOpen, had closed its client accounts by 22 October 2026 and applied to the Financial Conduct Authority (FCA) to cancel its regulatory permissions.
The firm's UK website directs customers with funds remaining to withdraw them through the Client Portal. It is also no longer taking applications to open accounts. The FCA register still includes FXOpen Ltd, so the application has not itself ended the firm's authorisation.
Earlier exit dates have elapsed
FXOpen had set separate deadlines for retail and professional customers to close positions and withdraw funds. Both dates have now passed:
Closing accounts does not by itself complete the regulatory process. The FCA requires firms seeking cancellation to stop regulated activity and deal with outstanding liabilities and customer interests. An application does not mean the regulator has approved the request.
- Professional clients had until 21 September 2026 to close positions and withdraw funds.
- Retail clients had until 16 September 2026 to complete those steps.
Separate proceedings concern Aliaksandr Klimenka, identified as a person with "significant control" of FXOpen Ltd. In February 2024, US authorities charged him with a money laundering conspiracy linked to cryptocurrency exchange BTC-e.
His trial is scheduled for November 2026. In October 2024, Cyprus's financial regulator, CySEC, suspended his voting rights in FXOpen EU Ltd, saying his influence was prejudicial to the company's sound and prudent management. No available information links those developments to the UK closure. Finance Magnates first reported the account closures and FCA application.
The integration question
For operations teams, account closure, fund withdrawal and regulatory status are separate states to track. FXOpen's website directs customers to the Client Portal for remaining funds, while the FCA register still lists the firm. Operators handling a similar wind-down should check how account records, open withdrawal requests and customer balances are reconciled.
The notice does not say how long the portal will remain available or how unresolved customer cases are being handled. Those are points to confirm alongside what evidence the firm retains for customer enquiries. Compliance teams should also establish how the cessation of regulated activity and outstanding liabilities are being addressed as the FCA considers the application.
