Compare easyMarkets vs FXOpen

Compare easyMarkets vs FXOpen

easyMarkets versus FXOpen Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$100MT4, Web Trader & Apps200+CySEC, ASIC
$300MT465+FCA, ASIC, FSRC

easyMarkets and FXOpen Comparison

FXOpen is an ECN broker which aims to offer high speed no dealing desk order execution. easyMarkets provides fixed spreads (without a commission charge) which can be lower with accounts types requiring a higher minimum deposit. Both provide MT4 (and allow the use of EAs). easyMarkets additionally has a web trading platform (and apps).

Thus this a comparison of an ECN broker vs a fixed spread broker, with a platform for discretionary trading as well as one for automated trading (MT4). As might be expected, easyMarkets has more markets, and a wider range. However FXOpen has a wider range of Cryptocurrency CFDs.

Both brokers are regulated by the ASIC in Australia. easyMarkets is additionally regulated by the CySEC in Cyprus. FXOpen is additionally regulated by the FCA in the United Kingdom and the FSRC in Nevis.

Brief comparison

FXOpen is an ECN MT4 broker, offering ECN (with commission charges), STP and Cryptocurrency accounts. easyMarkets is a fixed spread broker with a relatively large offering of Forex products, with no slippage and no commission charges, offering a web trading platform (and apps) along with MT4.

Minimum deposit and account types

The minimum deposit for easyMarkets is $100. The minimum deposit for FXOpen is €/$300 or £200.

  • easyMarkets offers a Standard account with a minimum deposit of $100 and a VIP account with a minimum deposit of $2,500.
  • All easyMarkets account types have customer support and a personal account manager. The VIP account additionally has telephone trading, access to the tightest spreads at easyMarkets, a personal analyst and real time SMS market updates. The minimum trade size is 0.01 lots.
  • FXOpen offers three accounts types, ECN, STP and Crypto. The ECN account charges commissions on its markets, the STP does not charge commissions. The ECN account has a wider range of market available. The Crypto account is an STP account which additionally offers a range of Cryptocurrencies (which have a commission charge). The minimum trade size is 0.01 lots. Market news and analysis are available via RSS and an economic calendar is provided on FXOpen's website.

Markets

  • easyMarkets offers Forex, Indices, Energy, Metals, Cryptocurrencies, Soft Commodities and Options, with 200+ available.
  • On the ECN account, FXOpen offers Forex, Indices, Energy and Precious Metals, with 65+ available.
  • On the STP account, FXOpen provides Forex and Precious Metals, for a total of 50+.
  • On the Crypto account, FXOpen offers Forex, Precious Metals and Cryptocurrencies, for a total of 55+.

Cryptocurrency CFDs

  • easyMarkets offers Bitcoin, Ethereum and Ripple.
  • FXOpen offers Bitcoin, Ethereum, Ripple, Litecoin, DASH, IOTA, Ethereum Classic, Bitcoin Cash, NEO, EOS, Monero, Namecoin, Peercoin, Emercoin and OMNI.

Spreads and leverage

  • Spreads at easyMarkets are fixed and are from 1 for EUR/USD, 2 for UK100, 0.35 for Gold and 0.04 for US Oil.
  • Spreads at FXOpen are variable and are from 0.0 for EUR/USD, 0.0 for UK 100, 0.0 for Gold and 0.0 for US Crude Oil (all plus commission). The STP account has higher spreads.

The maximum leverage for easyMarkets is . The maximum leverage for FXOpen is .

Commissions

  • easyMarkets does not charge commissions.
  • For Forex, FXOpen charges a commission, which depends on volume traded, from $1.5 - $5 per standard lot per side. Other instruments have differing commission charges.

Platforms

easyMarkets offers a web trader, MT4 and apps. FXOpen provides MT4, available for desktop, mobile and tablets.

Comparison summary

  • Both brokers support discretionary and automated trading
  • FXOpen is an ECN broker, and provides infrastructure to support this kind of trading
  • FXOpen's platform is MT4
  • easyMarkets also offers MT4 and allows EAs
  • easyMarkets has fixed spreads
  • easyMarkets also has a web trading platform, for discretionary trading
  • Each broker allows scalping
  • easyMarkets has no slippage, while FXOpen may, but it uses high speed order transmission

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