FXOpen UK Terminates Client Accounts and Files for FCA Permission Cancellation
FXOpen Ltd, the United Kingdom arm of the forex and contracts-for-difference (CFD) broker FXOpen, has wound down its trading operation for retail and professional customers. The firm's UK website now confirms that every client account has been closed and directs remaining customers to retrieve any residual balances via its Client Portal. New account applications are no longer being accepted.
Earlier deadlines set by the broker for clients to flatten open positions and withdraw funds have already lapsed. Retail customers were required to complete their exits by 16 September 2026, while professional clients had until 21 September 2026. Both dates have now passed.
Regulatory Process Still In Progress
Despite the operational shutdown, the Financial Conduct Authority has not yet granted approval for FXOpen Ltd to surrender its authorisation. The firm continues to appear on the FCA's public register of authorised firms. Under FCA rules, a company that wishes to cancel its permissions must first cease all regulated activities, settle any outstanding client liabilities, and fully address customer interests before the regulator will clear the cancellation. Simply submitting the application is not equivalent to receiving approval.
FXOpen Ltd was contacted for a statement regarding the closure of its UK desk and the permission-cancellation filing. No reply had been received at the time of writing.
Broader Legal and Regulatory Context Surrounding FXOpen Leadership
The UK wind-down arrives against a backdrop of separate legal and supervisory actions involving Aliaksandr Klimenka, identified as a person exercising "significant control" over FXOpen Ltd. In February 2024, US federal authorities brought money-laundering conspiracy charges against him in connection with the BTC-e cryptocurrency exchange. His criminal trial is currently set for November 2026.
In October 2024, the Cyprus Securities and Exchange Commission (CySEC) took a parallel step by suspending Klimenka's voting rights at FXOpen EU Ltd. The regulator stated that his level of influence over the company was detrimental to its sound and prudent management. No publicly available information currently establishes a direct causal link between those proceedings and the decision to close the UK operation.
What Traders Should Take Away
For UK-based traders who still hold residual balances, the immediate action is to log in through the Client Portal and withdraw remaining funds, as the firm is no longer processing new transactions. Because the FCA cancellation has not yet been formally approved, the firm still carries its regulatory obligations to clients under UK rules, including safeguarding of funds. Traders should monitor the FCA register and any communications from the firm for updates on the finalisation of the permission-cancellation process. Anyone who experienced difficulties withdrawing funds or who believes client assets were mishandled should contact the FCA directly to register a complaint while the firm remains within the regulator's jurisdiction.
