To find the top fx brokers
, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare Dukascopy vs FXOpen.
To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. Dukascopy received a rating of 4.5 stars over FXOpen's 3.5 stars.
Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. Dukascopy alongside FXOpen are regulated in a major hub. Dukascopy nor FXOpen are publicly traded companies. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. FXOpen offers its clients access to 95 different currency pairs while Dukascopy has 64 available pairs, a difference of 31.
To round out our comparison of Dukascopy vs FXOpen, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. Dukascopy alongside FXOpen offer Meta Trader. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. Both brokers offer clients access to the same number of charting tools, 31. Both Dukascopy and FXOpen provide clients with access to 51 total indicators (eg, moving averages).
Overall, Dukascopy boasts 4 stars versus FXOpen's 3 stars. And, when it comes to individual category awards, Dukascopy was rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2018, while FXOpen was rated none of these.