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UK accounts are now closed
FXOpen Ltd, the UK entity of FXOpen's forex and contracts for differences business, has shut its client accounts and filed with the Financial Conduct Authority (FCA) to cancel its regulatory permissions.
The UK website tells customers with money still in their accounts to request withdrawals through the Client Portal. FXOpen is also no longer taking applications for new accounts.
The broker had set separate deadlines for retail and professional clients to close positions and withdraw funds. Both dates have passed:
- Retail clients: 16 September 2026
- Professional clients: 21 September 2026
FCA status remains unresolved
Ending the UK service does not itself remove the firm's authorisation. FXOpen Ltd remains on the FCA register, and an application to cancel permissions is not confirmation that the regulator has approved it. The FCA requires applicants to stop regulated activity and address outstanding liabilities and customer interests before cancellation.
A separate legal case concerns Aliaksandr Klimenka, who has significant control of FXOpen Ltd. In February 2024, US authorities charged Klimenka with a money laundering conspiracy linked to BTC-e; his trial is scheduled for November 2026. In October 2024, Cyprus's regulator, CySEC, decided to suspend his voting rights in FXOpen EU Ltd, saying his influence was prejudicial to the company's sound and prudent management. No available information connects these matters to the UK closure. Finance Magnates reported that it had asked FXOpen about the UK closure and cancellation application but had received no response at publication.
What this means on the desk
The end of the UK service and removal of FCA permissions are separate events: FXOpen Ltd remains on the regulator's register while its application is pending. Firms that use register status in onboarding, risk or compliance records should establish what evidence will trigger a change to those records, and whether a confirmed FCA decision is required.
The report does not specify how long the Client Portal will remain available, how withdrawals are processed or what account documents customers can access after closure. Operations teams should confirm how remaining balances and outstanding liabilities will be reconciled, and what records will show that customer interests have been addressed.
