FXOpen Ltd, the UKentity of forex and contracts for difference broker FXOpen, has closed itsclient accounts and applied to the Financial Conduct Authority to cancel itsregulatory permissions.The broker's UKwebsite states that all “client accounts are closed” and asks customers towithdraw any remaining funds through the Client Portal. It is no longeraccepting new account applications.FXOpen UK Exit Deadlines Pass, FCAApproval PendingFXOpen had previouslyset deadlines for retail and professional clients to close their positions andwithdraw funds. The deadlines were 16 September and 21 September 2026,respectively. Both have passed.The closure of thetrading operation does not mean the FCA has approved the cancellation of thefirm's authorisation. FXOpen Ltd remains listed on the regulator's register.The FCA requires firmsseeking to cancel their authorisation to stop carrying out regulated activitiesand address outstanding liabilities and customer interests. Submitting anapplication does not confirm that the regulator has approved the cancellation.Finance Magnates has contacted FXOpen forcomment on the closure of its UK operation and the application to cancel itsFCA permissions. No response had been received at the time of publication.FXOpen UK Closure Follows RegulatoryScrutinyThe UK operation'sclosure comes amid separate regulatory and legal developments involvingAliaksandr Klimenka, a person with “significant control” of FXOpen Ltd. USauthorities charged him in February 2024 with money laundering conspiracylinked to the BTC-e cryptocurrency exchange. His trial is scheduled forNovember 2026.In October 2024,Cyprus's financial regulator, CySEC, alsodecided to suspend Klimenka's voting rights in FXOpen EU Ltd. The regulatorsaid his influence over the company was prejudicial to its sound and prudentmanagement. No available information establishes a link between thesedevelopments and the UK operation's closure.This article was written by Tareq Sikder at www.financemagnates.com.