Written by ForexBrokers.com
In this head to head comparison of FP Markets vs FXOpen, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FP Markets and FXOpen are both well-known online brokers in the trading industry, with FP Markets founded in 2005 and FXOpen in 2003. Neither broker is publicly traded or operates as a bank. In terms of regulatory licenses, both brokers hold two Tier-1 licenses, classified as highly trusted by ForexBrokers.com standards. However, FP Markets has an additional Tier-2 license, which gives it a slight edge in regulatory trustworthiness compared to FXOpen's zero Tier-2 licenses.
Looking at trust scores, FP Markets boasts a score of 89 out of 99, placing it in the "trusted" category according to ForexBrokers.com. FXOpen, with a score of 76, is deemed of average risk. These ratings reflect the overall confidence in these brokers' capabilities and reliability for traders and investors seeking secure trading platforms.
| Feature |
FP Markets
|
FXOpen
|
|---|---|---|
| Year Founded | 2005 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When it comes to assessing the commissions and fees of FP Markets and FXOpen, FP Markets stands out with a highly competitive pricing structure, especially for its commission-based ECN account. This makes it one of the most cost-effective choices for traders around the globe. FP Markets received Best in Class honors for Commissions and Fees in the 2024 Annual Awards. Its Raw ECN account offers attractive spreads averaging 0.1 pips, with an all-in cost of 0.8 pips due to a commission, while the Standard account, due to higher spreads, tends to be more expensive. Furthermore, FP Markets provides Direct Market Access (DMA) with its share CFD offering on the Iress platform, although the Iress ViewPoint account is more suited for active traders with high balances due to its costs.
In contrast, FXOpen does not provide specific average spread data, offering a less transparent fee structure compared to FP Markets. While FXOpen still delivers a reasonable trading experience, it received a four-star rating for its commissions and fees, positioning it less favorably compared to FP Markets' five-star rating. In the rankings by ForexBrokers.com, FP Markets is placed at #6 out of 63 brokers in the Commissions and Fees category, highlighting its cost-effectiveness. Meanwhile, FXOpen ranks at #44, indicating a less competitive position in terms of broker fees.
FP Markets' superior ranking and competitive fee structure make it a preferred choice for traders seeking the most economical trading environment, especially with its ECN account options and added transparency through the Iress platform. On the other hand, while FXOpen maintains a respectable offering, traders seeking the best value for their trading activities might find FP Markets' offerings more compelling in terms of cost savings and service quality.
| Feature |
FP Markets
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $100 AUD | $100 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing FP Markets and FXOpen in terms of their range of investments, FP Markets offers a significantly broader spectrum with 10,000 tradeable symbols against FXOpen's 87. FP Markets provides access to 71 forex pairs while FXOpen offers 25, making FP Markets a more attractive platform for forex traders. Although neither broker provides the option to invest in exchange-traded securities on U.S. or international exchanges, both offer forex trading as a CFD or spot contract, enhancing their appeal to forex investors.
Both FP Markets and FXOpen lack options for purchasing actual cryptocurrencies but do support trading in cryptocurrency derivatives. Additionally, they both offer copy trading services, allowing traders to mimic successful strategies. However, in terms of overall investment range, FP Markets stands out with a rating of 4.5 stars and a ranking of #18 out of 63 brokers on ForexBrokers.com. In comparison, FXOpen holds a 3-star rating and is ranked #62, illustrating FP Markets’ advantage in providing a more extensive selection of investment opportunities.
| Feature |
FP Markets
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 87 |
| Forex Pairs (Total) | 71 | 25 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
FP Markets and FXOpen both offer a suite of trading platforms and tools aimed at enhancing the trading experience for their users. Traders interested in testing strategies without risk can take advantage of free virtual demo accounts offered by both brokers. While they each support widely-used platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5) and provide access to web-based and Windows-based desktop platforms, FP Markets stands out with its proprietary platform developed in-house. This gives FP Markets a unique edge for traders seeking something specifically crafted by the broker. Both brokers offer copy trading services, allowing users to replicate successful trades easily. However, FXOpen distinguishes itself further by supporting ZuluTrade, a popular social trading platform, which FP Markets does not offer.
In terms of technical analysis features, both FP Markets and FXOpen provide ample tools but differ slightly in their offerings. FP Markets offers 17 drawing tools compared to FXOpen's 15, supporting traders in conducting more detailed chart analysis. Both brokers enable trades directly from stock charts, offering convenience and efficiency. Watch list options are identical, with each providing 7 columns or fields for customizable alerts. Users looking at rankings will find that FP Markets is positioned higher at #23 for Trading Platforms and Tools by ForexBrokers.com, compared to FXOpen at #53, despite both achieving a 4-star rating in the category. This suggests that traders might find FP Markets' offerings more favorably perceived in the industry overall.
| Feature |
FP Markets
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 17 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When choosing between FP Markets and FXOpen for trading on mobile apps, both offer essential features and availability for iPhone and Android users. They each provide access to stock and forex price alerts, with the ability to draw trendlines on charts and view various time frames like daily and intraday. However, FP Markets has an edge in chart functionality features as its app automatically saves drawings, while FXOpen does not. Both platforms allow you to create watchlists with real-time quotes, although neither supports watchlist symbol syncing between devices and online accounts.
Chart analysis on FP Markets relies on MetaTrader's default technical studies, whereas FXOpen provides a more extensive selection with 30 technical studies. Despite both apps earning a credible 4-star rating, FP Markets ranks significantly higher for mobile trading apps, positioned at #18 by ForexBrokers.com from a pool of 63 brokers, compared to FXOpen's rank of #54. This suggests that while both apps serve their purpose well, FP Markets might cater better to traders seeking a more streamlined and integrated mobile trading experience.
| Feature |
FP Markets
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
FP Markets and FXOpen both provide daily market commentary and forex news from reputable sources like Bloomberg and Reuters. However, FP Markets distinguishes itself with additional resources such as tools from Autochartist and Trading Central, which FXOpen does not offer. FP Markets also provides a sentiment-based trading tool to give traders an understanding of market mood, allowing for more informed decision-making. Both brokers offer an economic calendar to keep track of key financial events, but FP Markets supports this with a broader array of analytical tools.
When it comes to research rating, FP Markets receives 4 stars out of 5, while FXOpen earns 3 stars. In a ranking of 63 brokers, FP Markets stands at #25 for research capabilities, showing a substantial lead over FXOpen's position at #63. The array of research tools and resources provided by FP Markets enhances the trading experience, making it a more attractive choice for those who prioritize comprehensive market analysis.
| Feature |
FP Markets
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, FP Markets outshines FXOpen with a more comprehensive and diverse offering. FP Markets provides a wealth of materials, including over ten educational pieces such as articles, videos, and archived webinars that focus on forex and CFDs. They also host monthly online webinars that clients can participate in, with a searchable archive of past webinars available for those who want to dive deeper into the subjects. Furthermore, FP Markets offers extensive video content, featuring both beginner and advanced trading topics tailored for a range of trading experiences. This makes them an ideal choice for those looking to start their trading journey with a solid educational foundation.
On the other hand, while FXOpen does offer basic educational tools, they fall short compared to FP Markets. FXOpen lacks the minimum ten educational pieces focused on forex or CFDs and does not conduct regular client webinars or maintain a searchable archive of past webinars. Their video content is also limited, providing less guidance for both beginners and more experienced traders. However, FXOpen does include an investor dictionary with over 50 investing terms, matching FP Markets in this area. Overall, FP Markets scores a higher rating for education with four stars and ranks significantly better on ForexBrokers.com, highlighting their stronger commitment to education for new traders.
| Feature |
FP Markets
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that FP Markets is better than FXOpen. FP Markets finished with an overall rank of #19, while FXOpen finished with an overall rank of #54.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
| Feature |
FP Markets
|
FXOpen
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 89 | 76 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both FP Markets and FXOpen do not offer the ability to buy actual delivered cryptocurrency, but they do provide options for purchasing cryptocurrency derivatives.
FP Markets and FXOpen both support Visa, Mastercard, Skrill, and bank wire transactions for deposits and withdrawals, but only FP Markets offers PayPal, whereas neither broker offers ACH or SEPA transfer options.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
Select Brokers
↓×Compare
0 of 5| Overall Rating | FP Markets | FXOpen | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 89 | 76 | |
| Winner | check_circle | ||
| Review | FP Markets Review |
| Broker Screenshots | FP Markets | FXOpen | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
| ||
| Mobile Trading Gallery (click to expand) |
| ||
| Research Gallery (click to expand) |
| ||
| Education Gallery (click to expand) |
|
| Regulation | FP Markets | FXOpen | |
|---|---|---|---|
| Trust Score | 89 | 76 | |
| Year Founded | 2005 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | FXOpen | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FP Markets | FXOpen | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FP Markets | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 87 | |
| Forex Pairs (Total) | 71 | 25 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | FP Markets | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FP Markets | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $100 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | FP Markets | FXOpen | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | FP Markets | FXOpen | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 17 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FP Markets | FXOpen | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FP Markets | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FP Markets | FXOpen | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | FP Markets Review |
| Overall | FP Markets | FXOpen | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 89 | 76 | |
| Winner | check_circle | ||
| Review | FP Markets Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill