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FP Markets vs FXOpen 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is FP Markets better than FXOpen? In our analysis of 23 international regulators across 62 of the best forex brokers, FP Markets is considered average-risk, with an overall Trust Score of 86 out of 99. FXOpen is considered average-risk, with an overall Trust Score of 80 out of 99. Learn more about Trust Score.

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Compare

0 of 5
Overall RatingFP MarketsFXOpen
Overall Rating 4.5/5 Stars 3.5/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 4.5/5 Stars 3/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4/5 Stars 3/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score 86 80
Winner check_circle
Review FP Markets Review
Broker ScreenshotsFP MarketsFXOpen
Trading Platforms Gallery (click to expand)
Research Gallery (click to expand)
Mobile Trading Gallery (click to expand)
Education Gallery (click to expand)
RegulationFP MarketsFXOpen
Trust Score 86 80
Year Founded 2005 2003
Publicly Traded (Listed) No No
Bank No No
European Union Authorised (MiFID) Yes info Yes info
Tier-1 Licenses 1 2
Tier-2 Licenses 2 1
Tier-3 Licenses 0 0
Tier-1 Licenses (High Trust)FP MarketsFXOpen
Australia (ASIC Authorised) Yes Yes
Canada (SRO Authorised) No No
Hong Kong (SFC Authorised) No No
CBI Authorised (Ireland) 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
Tier-2 Licenses (Average Trust)FP MarketsFXOpen
China (CBRC Authorised) No No
Cyprus (CySEC Authorised) Yes Yes
India (SEBI Authorised) No No
Israel (ISA Authorised) No No
Russia (CBR Authorised) No No
South Africa (FSCA Authorised) Yes No
Thailand (SEC Authorised) No No
UAE (DFSA/Central Bank Authorised) No No
Tier-3 Licenses (Low Trust)FP MarketsFXOpen
Bahamas (SCB Authorised) No No
Belize (FSC Authorised) No No
Cayman Islands (CIMA Authorised) No No
Bermuda (BMA Authorised) No No
British Virgin Islands (FSC Authorised) No No
Mauritius (FSC Authorised) No No
Vanuatu (VFSC Authorised) No No
InvestmentsFP MarketsFXOpen
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 (CFD) 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).
CostFP MarketsFXOpen
Average Spread EUR/USD - Standard 1.2 info N/A info
All-in Cost EUR/USD - Active 0.7 info N/A info
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker No Yes
Execution: Market Maker Yes Yes
FundingFP MarketsFXOpen
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
Trading PlatformsFP MarketsFXOpen
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 ToolsFP MarketsFXOpen
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) 15 15
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile TradingFP MarketsFXOpen
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
Forex Calendar Yes Yes
ResearchFP MarketsFXOpen
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes Yes
Autochartist Yes No
Trading Central (Recognia) No No
Social Sentiment - Currency Pairs Yes No
Economic Calendar Yes Yes
EducationFP MarketsFXOpen
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 PairsFP MarketsFXOpen
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
OverallFP MarketsFXOpen
Overall Rating 4.5/5 Stars 3.5/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 4.5/5 Stars 3/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4/5 Stars 3/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score 86 80
Winner check_circle
Review FP Markets Review
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FP Markets vs FXOpen Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare FP Markets vs FXOpen.

Does FP Markets or FXOpen offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, FP Markets offers better pricing overall for traders.

Is FP Markets or FXOpen safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. FXOpen holds 2 global Tier-1 licenses, while FP Markets holds 1. FP Markets holds 2 global Tier-2 licenses, while FXOpen holds 1. In our analysis of 23 international regulators across 50 brokers, FP Markets earned a higher Trust Score than FXOpen.

Which trading platform is better: FP Markets or FXOpen?

To compare the trading platforms of both FP Markets and FXOpen, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, FP Markets offers a better experience. With research, FP Markets offers superior market research. Finally, we found FP Markets to provide better mobile trading apps.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Both FP Markets and FXOpen offer MetaTrader 4 (MT4).FP Markets and FXOpen both offer copy trading.

How many forex pairs and CFDs are available to trade?

FP Markets provides traders 71 currency pairs (e.g., EUR/USD) compared to FXOpen's 25 available pairs. Forex pairs aside, FP Markets offers traders access to 10000 CFDs while FXOpen has 87 available CFDs, a difference of 9913.

Can I trust FP Markets?

FP Markets is not publicly traded and does not operate a bank. FP Markets is authorised by one tier-1 regulator (high trust), two tier-2 regulator (average trust), and zero tier-3 regulators (low trust). FP Markets is authorised by the following tier-1 regulator: Australian Securities & Exchange Commission (ASIC).

Can I trust FXOpen?

FXOpen is not a publicly traded company, doesn't operate a bank, and is authorised by two tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). FXOpen is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA).

Is FP Markets good?

FP Markets shines as a low-cost broker for trading forex and CFDs โ€“ as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but itโ€™s mostly a share trading platform โ€“ and is generally a much pricier option.

Is FXOpen good?

FXOpen is a long standing MetaTrader broker with a narrow offering and few benefits beyond a standard MetaTrader experience coupled with social-trading platforms ZuluTrade and Myfxbook.

Overall winner: FP Markets

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We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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.

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