Written by ForexBrokers.com
In this head to head comparison of FXCM 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.
FXCM, established in 1999, and FXOpen, founded in 2003, offer online trading services but differ significantly in terms of trust and regulation. FXCM is publicly traded, which adds a layer of transparency for investors. Meanwhile, FXOpen is not publicly listed. Neither company functions as a bank. In terms of regulatory oversight, FXCM holds 4 Tier-1 licenses, making it highly trusted, and 2 Tier-2 licenses, which are also considered reliable. FXOpen, on the other hand, holds 2 Tier-1 licenses and no Tier-2 licenses.
When evaluating the ForexBrokers.com Trust Score, a key measure of broker reliability, FXCM scores an impressive 95 out of 99, categorizing it as highly trusted. FXOpen scores a 76, marking it as posing an average risk. This means that FXCM offers a more secure option for traders who prioritize trust and regulatory compliance in their trading platform choice.
| Feature |
FXCM
|
FXOpen
|
|---|---|---|
| Year Founded | 1999 | 2003 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
When comparing FXCM and FXOpen on commissions and fees, it's important to note the distinction in their pricing structures. FXCM presents slightly higher-than-average pricing for forex trading, with standard account spreads for May 2024 averaging 0.78 pips on the EUR/USD for their EU, U.K., and Australia offerings. In contrast, the St. Vincent and the Grenadines entity reported spreads of 1.38 pips, above the industry average. However, for commission-based accounts, FXCM offers more competitive average spreads of 0.28 pips, excluding commissions, with potential for discounts through its Active Trader Rebate Program, which is unavailable in the U.K. and EU. This prompts traders to consider the effective spread, which rises to around 0.74 pips when factoring in commissions. While posing a viable option for active traders, FXCM's offerings may sometimes be outpriced by competitors like Tickmill and FP Markets.
In contrast, specific average spread data for FXOpen isn't readily available, which can be a disadvantage for traders looking to make transparent cost comparisons. Despite this, both FXCM and FXOpen boast a four-star rating out of five for their commissions and fees. FXCM ranks higher overall at #25 compared to FXOpen's position at #44, suggesting it might offer a slightly better value proposition or trading experience in the context of costs and fees.
Traders might find added value in FXCM through potential rebates in their Active Trader Rebate Program, dependent on trade volume, while FXOpen's lack of detailed spread data makes it challenging to provide an in-depth analysis of its cost-effectiveness. Ultimately, the choice between these brokers will depend on individual trading needs and preferences, especially regarding transaction volume and the need for transparent pricing details.
| Feature |
FXCM
|
FXOpen
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $100 |
| Average Spread EUR/USD - Standard | 0.78 | N/A |
| All-in Cost EUR/USD - Active | 0.78 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | 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 the range of investments offered by FXCM and FXOpen, both brokers provide opportunities for forex trading through CFDs or spot contracts. FXCM stands out with a broader array of tradeable symbols, offering 440 in total, compared to FXOpen’s selection of 87. In terms of tradeable forex pairs, FXCM again takes the lead with 46 pairs against FXOpen's 25. However, neither FXCM nor FXOpen offers exchange-traded securities from the U.S. or international exchanges, limiting their direct stock investment options.
Additionally, both brokers support copy trading, a feature that allows traders to replicate successful strategies. While neither platform offers the purchase of actual cryptocurrencies, they both enable trading in cryptocurrency derivatives. In terms of ratings, FXCM scores 3.5 stars out of five for its investment range, ranking 47th among 63 brokers in the ForexBrokers.com assessment. FXOpen, on the other hand, receives a slightly lower rating of 3 stars, placing it at 62nd in the same category. This comparison highlights FXCM’s slight edge in diversity and ranking over FXOpen.
| Feature |
FXCM
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 87 |
| Forex Pairs (Total) | 46 | 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.
When comparing FXCM and FXOpen, both brokers provide virtual demo accounts, perfect for practice without financial risk. FXCM impresses with a unique proprietary platform alongside offering MetaTrader 4 (MT4), a favorite among traders. While it lacks MetaTrader 5 (MT5), it compensates with ZuluTrade for copy trading. FXCM also provides a Windows-based desktop platform and a convenient web-based option, making it versatile for various user preferences. It allows direct trading from stock charts and offers 13 columns in its watchlists, surpassing many peers.
Conversely, FXOpen lacks a proprietary platform but has both MT4 and MT5, offering flexibility for traders preferring MT5's advanced features. Like FXCM, FXOpen delivers Windows and web-based platforms, along with ZuluTrade support. While it provides more drawing tools for charting, it falls short in watchlist customization with 7 fields available. Despite this, it competes well with its comprehensive trading options. Overall, FXCM shines more brightly with a five-star rating for its platforms and tools, ranking 6th among 63 brokers, while FXOpen holds a respectable position with four stars, ranked at 53rd.
| Feature |
FXCM
|
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) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | Yes |
| Charting - Indicators / Studies (Total) | 115 | 30 |
| Charting - Drawing Tools (Total) | 10 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 13 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both FXCM and FXOpen provide options for iPhone and Android users, with features that suit investors on the go. Both apps offer stock and forex price alerts, allowing traders to stay updated on market movements. However, FXCM's app stands out by enabling watchlist symbol syncing, which ensures that any changes made on the mobile app reflect in the client’s online account, a feature FXOpen lacks. In terms of technical analysis, FXCM supports 59 technical studies compared to FXOpen's 30, offering traders a broader scope for market analysis. Both platforms allow trendline drawing and multiple time frame views on charts, but only FXCM’s app automatically saves chart drawings, ensuring that your analyses remain intact.
Creating a watchlist with real-time quotes is a feature available in both apps, enhancing the trading experience by providing instant access to market trends. Despite having similarities in offerings, FXCM garners a slightly higher rating of 4.5 stars out of 5 for its mobile trading app, compared to FXOpen's 4 stars. This difference is further highlighted in rankings by ForexBrokers.com, where FXCM is positioned at #16 among 63 brokers, while FXOpen holds the #54 spot. For traders who value seamless syncing and extensive charting features, FXCM may be the preferred choice among these two brokers.
| Feature |
FXCM
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | 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 |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both FXCM and FXOpen provide daily market commentary and access to top-tier forex news sources like Bloomberg and Reuters, essential for keeping informed on market movements. While neither broker offers tools from Autochartist or Acuity Trading, FXCM stands out by providing advanced research tools from Trading Central, enhancing the analysis experience with tools such as Technical Analytics, which FXOpen does not offer. Additionally, FXCM includes a sentiment-based trading tool to gauge market positioning, a service not available with FXOpen. For those interested in in-depth market insights, FXCM also partners with TipRanks, adding to its comprehensive research offerings.
In terms of economic calendars, both brokers supply resources to track global news events, a valuable feature for planning trades around economic announcements. However, FXCM excels in research capabilities, earning 4.5 stars and securing the #11 spot in the Research category according to ForexBrokers.com, while FXOpen is rated 3 stars and ranks at #63. This indicates that, while both brokers provide essential news features, FXCM delivers a more enriched research experience for traders looking for advanced tools and insights.
| Feature |
FXCM
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
FXCM stands out as a stronger choice for beginners seeking educational resources in forex and CFDs trading compared to FXOpen. FXCM provides a wide variety of more than 10 educational materials, including articles, videos, and archived webinars, specifically centered on forex and CFDs. Additionally, they offer monthly online webinars for clients and maintain an easily accessible archive of previously recorded sessions. FXCM goes further by delivering over 10 beginner-focused educational videos that cover essential trading topics, alongside advanced content tailored for seasoned traders. For newcomers, the availability of an investor dictionary with over 50 investing terms provides a helpful reference, enhancing the learning experience.
In contrast, FXOpen offers limited educational support. While they do provide an investor dictionary similar to FXCM’s, FXOpen falls short in delivering an extensive range of educational materials, with no regular webinars or a substantial library of beginner and advanced videos. As a result, FXOpen's educational offerings may not fully satisfy those new to trading. This difference in scope is reflected in their ratings, with FXCM achieving a commendable 4.5 stars in education with a ranking of #14 out of 63 brokers according to ForexBrokers.com, while FXOpen earns 3 stars and ranks significantly lower at #58.
| Feature |
FXCM
|
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 FXCM is better than FXOpen. FXCM finished with an overall rank of #15, while FXOpen finished with an overall rank of #54.
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.
| Feature |
FXCM
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FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 76 |
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Both FXCM and FXOpen do not provide the ability to purchase actual (delivered) cryptocurrency, instead, they offer the opportunity to trade cryptocurrency derivatives.
FXCM provides a broader range of deposit and withdrawal options than FXOpen, offering ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires, while FXOpen supports only Skrill, Visa, Mastercard, and bank wires.
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.
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0 of 5| Overall Rating | FXCM | FXOpen | |
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| Trust Score | 95 | 76 | |
| Winner | check_circle | ||
| Review | FXCM Review |
| Broker Screenshots | FXCM | FXOpen | |
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| Regulation | FXCM | FXOpen | |
|---|---|---|---|
| Trust Score | 95 | 76 | |
| Year Founded | 1999 | 2003 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | FXCM | FXOpen | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | 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) | Yes | 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) | FXCM | FXOpen | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | Yes | 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 | FXCM | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 87 | |
| Forex Pairs (Total) | 46 | 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 | FXCM | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | N/A | |
| All-in Cost EUR/USD - Active | 0.78 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXCM | FXOpen | |
|---|---|---|---|
| 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 | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FXCM | 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) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | Yes |
| Trading Tools | FXCM | FXOpen | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 13 | 7 | |
| Charting - Indicators / Studies (Total) | 115 | 30 | |
| Charting - Drawing Tools (Total) | 10 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | FXOpen | |
|---|---|---|---|
| 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 | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FXCM | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | 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 | FXCM | 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 | FXCM Review |
| Overall | FXCM | FXOpen | |
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| Trust Score | 95 | 76 | |
| Winner | check_circle | ||
| Review | FXCM Review |
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