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Coinbase vs FXOpen Review

Steven Hatzakis

Published by Steven Hatzakis


Monday, July 16th, 2018

After spending seven months and hundreds of hours researching 43 different forex brokers for trading FX, our team at ForexBrokers.com team collected over 6,000 data points. For this review, we will compare Coinbase vs FXOpen.

To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. FXOpen is a better option with a 4.00 star rating over Coinbase's 2.50 star rating.

Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. FXOpen is regulated in a major hub, Coinbase isn't. Neither Coinbase and FXOpen are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. FXOpen offers its clients access to 63 different currency pairs while Coinbase has available pairs, a difference of 63.

Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. FXOpen makes Meta Trader available to clients, while Coinbase does not. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. Coinbase trails FXOpen by 31 total charting tools, with FXOpen offering 31 and Coinbase offering . Coinbase trails FXOpen by 51 total different indicators (for example, moving averages), with FXOpen offering 51 and Coinbase offering .

Overall, both Coinbase and FXOpen are rated 3.50 stars. And, when it comes to individual category awards, neither Coinbase nor FXOpen were rated Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education.
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Overall
Offering of Investments
Commissions & Fees
Platform & Tools
Customer Service
Research
Mobile Trading
Education
Trust Score
Year Founded
Publicly-Traded Company (Listed)
Regulated in Major Hub
Regulated in Emerging Hub
CFTC Registered (USA)
FCA Regulated (UK)
FINMA Authorised (Switzerland)
ASIC Authorised (Australia)
MAS Authorised (Singapore)
IIROC Authorised (Canada)
SFC Authorised (Hong Kong)
FSA Authorised (Japan)
CySEC Authorised (Cyprus)
FMA Authorised (New Zealand)
Forex: Spot Trading
Currency Pairs (Total Forex pairs)
CFDs - Total Offered
Cryptocurrency traded as actual
Cryptocurrency traded as CFD
All-in Cost EUR/USD - Active
Average Spread EUR/USD - Standard
Active Trader or Premium/VIP
Proprietary
Desktop Platform (Windows)
Web Platform
Social Trading / Copy-Trading
MetaTrader4 (MT4)
MetaTrader5 (MT5)
cTrader
Currenex
ZuluTrade
MirrorTrader
Virtual Trading (Demo)
Watchlists - Total Fields
Alerts - Basic Fields
Charting - Trade From Chart
Charts can be saved
Charting - Drawing Tools (Total)
Charting - Indicators / Studies (Total)
Charting - Drawings Autosave
Order Type - Trailing Stop
Android App
Apple iOS App
Forex News
Alerts - Basic Fields
Alerts Delivery - Push Notifications
Watch List
Watch List Syncing
Charting - Technical Studies/Indicators
Charting - Draw Trend Lines
Daily Market Commentary
Forex News (Top-Tier Sources)
AutoChartist
Trading Central (Recognia)
Delkos Research
Acuity Trading
Social Trading / Copy-Trading
Social Sentiment - Currency Pairs
Client Webinars
Client Webinars (Archived)
Videos - Beginner Trading Videos
Economic Calendar
Calendar Includes Forecasts
Economic News Sentiment
Trade Ideas - Backtesting
GBPUSD (or USDGBP)
USDJPY (or JPYUSD)
EURUSD (or USDEUR)
USDCHF (or CHFUSD)
USDCAD (or CADUSD)
NZDUSD (or USDNZD)
AUDUSD (or USDAUD)
USDCNH (or CNHUSD)
USDSGD (or SGDUSD)
USDMXN (or MXNUSD)
USDNOK (or NOKUSD)
USDSEK (or SEKUSD)
USDTRY (or TRYUSD)
USDZAR (or ZARUSD)
USDDKK (or DKKUSD)
USDBRL (or BRLUSD)
Minimum Initial Deposit
Bank Wire (Deposit/Withdraw)
Visa/Mastercard (Credit/Debit)
PayPal (Deposit/Withdraw)
Skrill (Deposit/Withdraw)
UnionPay (Deposit/Withdraw)
Coinbase
The Most Trusted Digital Asset Exchange! Learn More
Coinbase Review
 
3.5
2
2.5
3.5
-1
-1
3
3.5
 
93
No
No
No
No
No
No
No
No
No
No
No
No
No
 
No
No
No
 
N/A
N/A
No
 
No
No
No
No
No
No
No
No
No
No
 
No
No
No
No
No
No
 
No
No
No
No
No
No
No
No
 
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
 
No
No
No
No
No
No
No
No
No
 
No
No
No
No
No
No
No
 
Yes
Yes
No
No
No
FXOpen
FXOpen Review
 
3.5
3
4
3
4
2
3.5
1.5
 
76
2003
No
Yes
No
No
Yes
No
Yes
No
No
No
No
No
No
 
Yes
63
18
Yes
Yes
 
N/A
N/A
Yes
 
No
Yes
Yes
Yes
Yes
Yes
No
No
Yes
No
 
Yes
7
Yes
Yes
Yes
31
51
Yes
Yes
 
Yes
Yes
Yes
Yes
No
Yes
No
30
Yes
 
Yes
Yes
No
No
No
No
Yes
No
No
No
No
Yes
No
No
Yes
 
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
 
Yes
Yes
Yes
Yes
No
Yes
No
 
$100
Yes
Yes
No
Yes
Yes

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All data was obtained from a published web site as of 4/03/2018 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.



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