FOREX.com vs FXOpen

FOREX.com vs FXOpen

FOREX.com vs FXOpen
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$50MT4, Advanced Platform, Web Trader300+FCA, ASIC, CFTC, IIROC, SFC, CIMA, FSA
$200MT465+FCA, ASIC, FSRC

FOREX.com and FXOpen Comparison

Both of these brokers offer MT4. While FOREX.com has less markets of MT4 than its other platforms, it still has more markets on both platforms compared with FXOpen. Both offer Cryptocurrency CFDs to trade, though FXOpen has more.

A difference is that FXOpen is an ECN broker, while FOREX.com is not. However both brokers can offer low latency order execution on MT4. Both brokers support automated and discretionary trading, though FOREX.com has arguably additional support for discretionary trading by providing its Advanced Platform and web trader.

FOREX.com and FXOpen are both regulated by the FCA in the United Kingdom and the ASIC in Australia. FOREX.com is additionally regulated by CFTC in the United States, the IIROC in Canada, the SFC in Hong Kong, the CIMA in the Cayman Islands and the FSA in Japan. FXOpen is additionally regulated by the FSRC in Nevis.

Quick comparison

Both offer MT4, FOREX.com has a range of platforms, FXOpen offers ECN trading.

Minimum deposit and account types

The minimum deposit for FOREX.com is $/€/£50. The minimum deposit for FXOpen is €/$300 or £200.

  • FOREX.com offers Forex and CFD trading. The minimum trade size is 0.01 lots. It has an Economic Calendar, Market Research and a news feed on its platforms and a Trader Education course on its website.
  • FXOpen offers three accounts types, ECN, STP and Crypto, with Forex and CFD trading. 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

  • On The Advanced Platform, FOREX.com offers Forex, Indices, Energy, Metals, Soft Commodities, Cryptocurrencies and Stocks, with 300+ available.
  • On MT4, FOREX.com offers Forex, Indices, Energy, Metals and Soft Commodities, with 110+ available.
  • On the MT4 ECN account, FXOpen offers Forex, Indices, Energy and Precious Metals, with 65+ available.
  • On the MT4 STP account, FXOpen provides Forex and Precious Metals, for a total of 50+.
  • On the MT4 Crypto account, FXOpen offers Forex, Precious Metals and Cryptocurrencies, for a total of 55+.

Cryptocurrency CFDs

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

Spreads and leverage

  • Spreads at FOREX.com are variable or fixed depending on the market, with variable spreads from 1.4 for EUR/USD, a fixed spread of 1 for UK100, a typical variable spread of 0.61 for Gold and 0.04 for US Crude 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 FOREX.com (FCA regulated) is . The maximum leverage for FXOpen (FCA regulated) is .

Commission charge

  • FOREX.com does not charge commissions for trading Forex (only for Shares CFDs).
  • 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

FOREX.com offers the Advanced Platform, a web trader, MT4, an MT4 web trader and apps. FXOpen offers MT4.

Comparison summary

  • Both offer Forex and CFD trading
  • Each has MT4
  • Both support trading automation
  • FXOpen is an ECN broker
  • FOREX.com also offers its trading platforms, with the most features and markets on the Advanced Platform
  • Overall FOREX.com has more markets than FXOpen
  • However FXOpen has a competitive number for an ECN broker
  • Each is FCA and ASIC regulated
  • FOREX.com has a lower minimum deposit than FXOpen
  • Both offer Cryptocurrency CFDs, FXOpen has more

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