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FXCM vs FXOpen 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is FXCM better than FXOpen? In our analysis of 23 international regulators across 62 of the best forex brokers, FXCM is considered low-risk, with an overall Trust Score of 96 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 RatingFXCMFXOpen
Overall Rating 4.5/5 Stars 3.5/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Offering of Investments 3.5/5 Stars 3/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4.5/5 Stars 3/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score 96 80
Winner check_circle
Review FXCM Review
Broker ScreenshotsFXCMFXOpen
Trading Platforms Gallery (click to expand)
Research Gallery (click to expand)
Mobile Trading Gallery (click to expand)
Education Gallery (click to expand)
RegulationFXCMFXOpen
Trust Score 96 80
Year Founded 1999 2003
Publicly Traded (Listed) Yes No
Bank No No
European Union Authorised (MiFID) Yes info Yes info
Tier-1 Licenses 3 2
Tier-2 Licenses 3 1
Tier-3 Licenses 0 0
Tier-1 Licenses (High Trust)FXCMFXOpen
Australia (ASIC Authorised) Yes Yes
Canada (SRO Authorised) Yes 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) Yes Yes
USA (CFTC Authorized) No No
New Zealand (FMA Authorised) No No
Tier-2 Licenses (Average Trust)FXCMFXOpen
China (CBRC Authorised) No No
Cyprus (CySEC Authorised) Yes Yes
India (SEBI Authorised) No No
Israel (ISA Authorised) Yes 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)FXCMFXOpen
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
InvestmentsFXCMFXOpen
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 440 87
Forex Pairs (Total) 41 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).
CostFXCMFXOpen
Average Spread EUR/USD - Standard 1.38 info N/A info
All-in Cost EUR/USD - Active 1.38 info N/A info
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker Yes Yes
Execution: Market Maker Yes Yes
FundingFXCMFXOpen
Minimum Deposit Starts from $50 $100
PayPal (Deposit/Withdraw) Yes No
Skrill (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsFXCMFXOpen
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) No Yes
cTrader No No
DupliTrade No No
ZuluTrade Yes info Yes
Trading ToolsFXCMFXOpen
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 13 7
Charting - Indicators / Studies (Total) 59 30
Charting - Drawing Tools (Total) 10 15
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile TradingFXCMFXOpen
Android App Yes Yes
Apple iOS App Yes Yes
Mobile Alerts - Basic Fields Yes Yes
Mobile Watchlist Yes Yes
Watchlist Syncing Yes No
Mobile Charting - Indicators / Studies 59 30
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave Yes No
Forex Calendar Yes Yes
ResearchFXCMFXOpen
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
Economic Calendar Yes Yes
EducationFXCMFXOpen
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 PairsFXCMFXOpen
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 FXCM Review
OverallFXCMFXOpen
Overall Rating 4.5/5 Stars 3.5/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Offering of Investments 3.5/5 Stars 3/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4.5/5 Stars 3/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score 96 80
Winner check_circle
Review FXCM Review
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FXCM 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 FXCM vs FXOpen.

Does FXCM 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, FXCM offers better pricing overall for traders.

Is FXCM 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. FXCM holds 3 global Tier-1 licenses, while FXOpen holds 2. FXCM holds 3 global Tier-2 licenses, while FXOpen holds 1. In our analysis of 23 international regulators across 50 brokers, FXCM earned a higher Trust Score than FXOpen.

Which trading platform is better: FXCM or FXOpen?

To compare the trading platforms of both FXCM and FXOpen, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, FXCM offers a better experience. With research, FXCM offers superior market research. Finally, we found FXCM 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 FXCM and FXOpen offer MetaTrader 4 (MT4).FXCM and FXOpen both offer copy trading.

How many forex pairs and CFDs are available to trade?

FXCM provides traders 41 currency pairs (e.g., EUR/USD) compared to FXOpen's 25 available pairs. Forex pairs aside, FXCM offers traders access to 440 CFDs while FXOpen has 87 available CFDs, a difference of 353.

Can I trust FXCM?

FXCM's parent company is publicly-traded, does not operate a bank, and is authorised by three tier-1 regulators (high trust), three tier-2 regulators (average trust), and zero tier-3 regulators (low trust). FXCM is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and via Friedberg Direct, with the Investment Industry Regulatory Organization of Canada (IIROC).

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 FXCM good?

For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.

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: FXCM

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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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