FXOpen UK website: fxopen.com/en-gb/ (UK-based)
FXOpen website: fxopen.com/en/ (Nevis-based)
Sites will have different trading conditions & account types. Depending on the FXOpen's entity:
FXOpen AU: FXOpen is your counterparty, and may hedge with third-party liquidity providers.
FXOpen UK: FXOpen will act as Principal (not agent) in all non-ECN transactions.
FXOpen Nevis: Offers only ECN-name-branded accounts

FXOpen business model
FXOpen clients receive real-time quotes from the industry's largest liquidity providers. The list of our LPs include Dresdner, SG Paris, Standard Chartered, Barclays Capital, Bank of America, CRNX, JPMorgan, Morgan Stanley, Deutsche Bank AG, RBS, CITI, UBS, HOTSPOT INST, GOLDMAN and LavaFX.

8. CAPACITY
8.1 When you carry out Margined Trades, FXOL will act as principal and not as agent on your behalf in all non-ECN Transactions.
8.2 Where we enter any Margined Trade as your agent, any nonperformance by the other party shall be at your risk and not ours.

FXOpen executes all trading orders subject to the available liquidity. FXOpen will provide execution through the FXOpen ECN/STP trading system.

The execution of the Customer’s trading order by FXOpen are based on the conditions provided by a number of Counterparties involved which may apply different trading conditions, e.g. prices, commissions, overnights, leverages etc. FXOpen shall not be obliged to apply the conditions received by the Counterparties to each particular transaction of the Customer.

Execution of the Customer's Requests and Instructions
2.2. The Company executes trading orders of the Customers at the ECN/STP trading system by a technology that automatically matches buy and sell orders of incoming prices generated by all counterparties including Customers and Liquidity Providers, i.e. all Customers participate in ECN/STP trading system as price-takers as well as price-givers.
7. BUSTED TRADES
FXOpen shall have the right to annul and/or reverse any trades which are deemed untrue or opened at a fictitious price not existing on the market at the time of opening or are in breach with the subject of this Agreement as expressly stipulated in the clause 1 above. Without limiting the foregoing, if FXOpen, in its reasonable discretion, determines that the Customer is engaging or has engaged in trading strategies or activities designed intentionally to exploit errors in price quotations and/or delay, disruption, failure or malfunction of any transmission or communication system or software, FXOpen may upon notice to the Customer restrict or modify Customer’s access to price quotations, cancel trades, or terminate Customer’s access to FXOpen ECN/STP trading system.

15. FXOPEN'S RIGHTS
The Customer acknowledges that FXOpen has the following rights:
1) To reject any order or instruction the Customer may place.
2) To cancel or adjust the transaction of the Customer.
3) To provide the Customer’s account with any trade requested or deemed necessary by FXOpen.

7) FXOpen shall have at its sole discretion, control over and the right to modify the functionality of the FXOpen ECN/STP trading system’s price feeds, configurations and content, including but not limited to:  The parameter and protocols, by which the trading orders are placed, routed, matched or otherwise processed by the FXOpen ECN/STP trading system.  The availability of the FXOpen ECN/STP trading system with respect to particular financial instrument or transaction at any particular time or location.

32. EXPERT ADVISORS
Automated trading systems, or "Expert Advisors" allow trade operations to be carried out without the Customer's participation. Most types of Expert Advisors are generally allowed. The Customer agrees and acknowledges that FXOpen may in FXOpen's sole discretion disable the Customer's ability to use Expert Advisors, without any prior notice.

News trading and scalping are allowed with limitations:
Scalping: 1) Stop Loss, Take Profit and Pending Orders must be placed 50 pips or more away from the current price; 2) Most of your trades must be held open for at least several minutes.

News trading: Placing, modifying or deleting pending Buy Stop and Sell Stop orders (including opposite Stop orders) is not permitted during the Freeze Time (immediately before, during and some time after news release)

3.1 Execution Venues
The Company has elected to appoint FXOpen LP Limited https://fxopenprime.com/ as it’s ECN environment provider to whom all orders will be transmitted for execution. The Company has selected this ECN environment based on the technology they use to obtain the best possible outcome for your order. The aggregator derives its prices for Spot FX from multiple liquidity providers in the wholesale market.

Although the Company will transmit Client orders for execution, contractually the Company remains the sole counterparty to the Clients’ trades and any execution of orders is done in the Company’s name, therefore the Company is the sole Execution Venue for the execution of Client orders.

FXOpen ECN enables the matching of client orders against the orders of other FXOpen marketplace participants e.g. other FXOpen clients, both individual and institutional, and liquidity providers - banks, fx exchanges, other brokers. There is no conflict of interest between the clients and the broker, as the broker act only as the intermediary. Market execution with no last look is available to all FXOpen ECN participants.

ECN trading gives you direct access to the Forex market (interbank market) where you can trade with other traders and your orders are actually displayed in the market and are seen by others, who in turn can introduce their own orders and if the prices match, a deal is complete.

FXOpen was the first broker ever to introduce a true MT ECN trading platform. By being connected to the largest retail Forex liquidity pool available with dozens of leading banks and liquidity providers offering their Bids and Asks FXOpen’s MT ECN is creating a highly liquid and competitive marketplace like no other!