After reviewing Open Trades, we assess it as a high-risk, likely fraudulent broker. Below we break down exactly why, and what your options are if you have already deposited.
None found
High (4/4)
Undisclosed
Avoid — do not deposit
Who is Open Trades?
On the surface, Open Trades looks like an ordinary forex and crypto broker. Its public site is presented at https://opentrades.ltd/. But surface impressions are exactly what these operations rely on — the substance behind Open Trades is where the problems begin.
Is Open Trades regulated?
Open Trades provides no verifiable regulatory licence. An unregulated broker answers to no one: it can freeze withdrawals, invent fees, and disappear with deposits, all without consequence. This alone is reason enough to stay away.
Red flags we identified
- No verifiable licence from a recognised financial regulator
- No credible physical address or verifiable corporate record
- Opaque or anonymous corporate ownership
- Account dashboards that show “gains” with no real market exposure
- Aggressive “account managers” coaching clients to deposit
Our analysis
Open Trades’ website provides no regulatory disclosures, only claims that it was registered in United Kingdom. We searched the official register of the Financial Conduct Authority (FCA) using all available details, but found no record of Open Trades Ltd or any associated company. Furthermore, the FCA issued a warning against Open Trades, believing this company might be providing financial services or products without proper authorization in the UK. This absence of regulatory information combined with regulatory warning strongly suggests that Open Trades operates without authorization. Therefore, Open Trades appears to be a scam.
Can you recover money lost to Open Trades?
If you have deposited with Open Trades, do not pay any further “fees” to withdraw — that is part of the trap. Funds sent to operations like this can sometimes be traced on-chain and pursued through the exchanges and processors that received them. Whether recovery is realistic depends on how you paid and how quickly you act.
Were you scammed by Open Trades?
You may still have options. Our team can trace where your funds went and tell you honestly whether recovery is realistic — with a free, confidential case review.
Start a free recovery review →Warning: never pay an upfront fee to anyone “guaranteeing” recovery. Cleverecovery does not guarantee outcomes.