Reliable broker FXOpen?

https://fxopen.com/

Dear Investor,

Thank you for reaching out.

FXOpen currently holds licenses from both the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). The FCA is a top-tier financial regulator known for its stringent regulations, including the requirement for brokers to set up segregated accounts. This makes FXOpen significantly more reliable compared to unregulated brokers.

However, it is important to note that FXOpen previously held an Australian Financial Services (AFS) license from the Australian Securities and Investments Commission (ASIC). This license was canceled due to concerns about the adequacy of FXOpen's human resources to provide financial services and carry out supervisory arrangements. We recommend reading the official release for more details.

In conclusion, investing requires extreme caution. Assessing a broker's reliability or credibility should involve considering various factors. It is always prudent to gather as much information as possible before risking real money.