Written by ForexBrokers.com
In this head to head comparison of IFC 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.
Founded in 2006, IFC Markets is not publicly traded or a bank. It holds one Tier-2 license but no Tier-1 licenses, which ForexBrokers.com considers highly trusted. With a Trust Score of 73, IFC Markets is seen as having an average risk by ForexBrokers.com standards. This suggests that while it is not unattractive for traders, there are areas where it could enhance its credibility, especially in securing higher-trust licenses.
FXOpen, established in 2003, shares the characteristic of not being publicly traded or a bank, similar to IFC Markets. However, FXOpen stands out as it holds two Tier-1 licenses, indicating a higher level of trust according to ForexBrokers.com. This is reflected in its Trust Score of 76, which places it in the "trusted" category. Overall, FXOpen offers a more secure and dependable option for traders, underscored by its higher Trust Score and licenses.
| Feature |
IFC Markets
|
FXOpen
|
|---|---|---|
| Year Founded | 2006 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 0 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing commissions and fees between IFC Markets and FXOpen, several factors come into play. IFC Markets features an average spread for EUR/USD at 1.44 pips, which is slightly higher than the industry average of 1.08, potentially making it less attractive for traders prioritizing lower costs. However, the introduction of an ECN account offers more competitive conditions with effective spreads at 1.1 pips once you factor in the 0.005% commission per trade side. Additionally, the absence of inactivity fees and availability of active trader discounts present a noteworthy advantage.
In contrast, FXOpen's average spread data is currently unavailable, making a direct comparison challenging. Despite this limitation, both brokers share a 4-star rating in the commissions and fees category. Each caters to different trader needs, implying that personal preferences and trading habits should guide decision-making more than mere numbers.
Regarding rankings by ForexBrokers.com, IFC Markets is positioned at #39 out of a total of 63 brokers, while FXOpen holds the #45 spot. These rankings reflect their competitiveness in the commissions and fees category compared to other brokers, further illustrating the nuanced differences in trading costs between the two platforms.
| Feature |
IFC Markets
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $1 | $100 |
| Average Spread EUR/USD - Standard | 1.44 | N/A |
| All-in Cost EUR/USD - Active | 1.1 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IFC Markets and FXOpen both provide traders with opportunities in the forex market, offering forex trading as either CFDs or spot contracts. IFC Markets stands out with a wide array of 630 tradeable symbols, including 49 forex pairs, while FXOpen offers 87 tradeable symbols and 25 forex pairs. Neither broker provides access to U.S. exchange-traded securities like Apple's shares. However, IFC Markets allows clients to invest in international exchange-traded securities such as Vodafone on the London Stock Exchange, a feature FXOpen does not offer. Both brokers support copy trading and offer cryptocurrency derivatives, but not direct cryptocurrency purchases.
The difference in investment options is reflected in their ratings and rankings. IFC Markets earns a 3.5-star rating for its range of investments, ranking #43 out of 63 brokers according to ForexBrokers.com. FXOpen, in comparison, is slightly lower with a 3-star rating, standing at #62 in the same category. This comparison highlights IFC Markets' broader investment selection, making it potentially more appealing for traders seeking diverse opportunities.
| Feature |
IFC Markets
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 630 | 87 |
| Forex Pairs (Total) | 49 | 25 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers |
Dive deeper: Best Copy Trading Platforms.
IFC Markets and FXOpen both provide a comprehensive set of trading platforms and tools designed for a wide range of traders. Both brokers offer the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, as well as web-based and Windows-based desktop platforms, allowing traders to use the software they are most comfortable with. Both brokers also support simulated trading through free virtual demo accounts, making it easy for beginners to practice without financial risk. When it comes to proprietary platforms, IFC Markets has developed its own, giving it a unique edge in customizing a trading experience, whereas FXOpen relies on third-party platforms.
In terms of features, IFC Markets and FXOpen both offer copy trading, enabling traders to mirror the trades of experienced investors, though FXOpen uniquely provides ZuluTrade integration. Charting tools are well supported, with each broker offering 15 drawing tools and the capability to trade directly from charts. Both brokers provide seven fields for watch lists, allowing for detailed monitoring of selected assets. Despite their similarities, IFC Markets edges out FXOpen with a higher ranking in the Trading Platforms and Tools category by ForexBrokers.com, coming in at #36 compared to FXOpen's #53, even though both brokers share a four-star rating in this category.
| Feature |
IFC 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) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of IFC Markets and FXOpen, both brokers offer apps for iPhone and Android devices, catering to traders who prefer to manage their investments on the go. Users of both apps can set stock and forex price alerts to stay updated on market movements. However, when it comes to watchlist synchronization, IFC Markets stands out by allowing seamless syncing between the app and the online account, ensuring that any changes are reflected across platforms. Both services provide 30 technical studies for in-depth chart analysis and enable trendline drawing and multiple time frame viewing on charts. Yet, IFC Markets has the added benefit of auto-saving drawings, which is not available with FXOpen.
In terms of real-time watchlist creation, both IFC Markets and FXOpen support this functionality in their mobile apps. Despite both brokers having a four-star rating for mobile trading apps, IFC Markets edges out with a higher ranking in the ForexBrokers.com listing, coming in at 52nd place compared to FXOpen's 54th. Traders looking for seamless integration and automatically saved chart drawing features may find IFC Markets' mobile app more appealing, while both brokers offer substantial tools for technical analysis and real-time market monitoring.
| Feature |
IFC Markets
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 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.
When comparing the market research offerings of IFC Markets and FXOpen, both brokers deliver daily market commentary, ensuring traders stay informed of the latest market trends. However, FXOpen takes a step further by providing forex news from top-tier sources like Bloomberg and Reuters, which is not a feature offered by IFC Markets. On the other hand, IFC Markets gives traders an edge with a sentiment-based trading tool that displays the ratio of long and short positions across various currency pairs, a tool FXOpen does not provide. Both brokers share similar offerings with economic calendars for tracking global news events, although neither provides tools from firms like Autochartist, Trading Central, or Acuity Trading.
Considering the research ratings, IFC Markets earns a slightly higher score of 3.5 stars compared to FXOpen’s 3 stars. This difference is reflected in their rankings, with IFC Markets positioned at #40 out of 63 brokers, while FXOpen trails significantly at #63 according to ForexBrokers.com. Thus, while both brokers offer essential market research tools, IFC Markets appears to edge out FXOpen in terms of user-rated satisfaction and a more favorable ranking.
| Feature |
IFC Markets
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | 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 comparing the educational resources available for beginners at IFC Markets and FXOpen, IFC Markets stands out in a number of areas. IFC Markets provides a wealth of educational content, offering over ten articles, videos, and other materials with a strong focus on forex and CFDs. Additionally, they provide over ten video tutorials specifically designed for both beginners and experienced traders. Moreover, IFC Markets supplies an investor dictionary containing over 50 essential investing terms, making it easier for newcomers to familiarize themselves with key concepts.
On the other hand, FXOpen falls short in several educational aspects critical for beginners. While FXOpen offers an investor dictionary with more than 50 terms, they do not provide the same depth of educational materials, such as beginner and advanced video content or a substantial library of articles on forex and CFDs. Without regular webinars or an archive of recorded sessions, their educational support for beginners remains limited. Consequently, IFC Markets earns a slightly higher education rating of 3.5 stars compared to FXOpen's 3 stars, ranking 30th versus 58th out of 63 brokers on ForexBrokers.com in the education category.
| Feature |
IFC Markets
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | No | 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 IFC Markets is better than FXOpen. IFC Markets finished with an overall rank of #45, while FXOpen finished with an overall rank of #54.
IFC Markets is a well-established broker that has been in operation for 17 years. Forex traders at IFC Markets gain access to multiple trading platforms, a growing range of tradeable markets, and a balanced offering of research and educational content. However, IFC Markets’ Trust Score suffers due to the broker’s limited range of regulatory licenses.
| Feature |
IFC Markets
|
FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 73 | 76 |
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Both IFC Markets and FXOpen do not offer the ability to buy actual (delivered) cryptocurrency, but both platforms do provide the option to trade cryptocurrency derivatives.
When comparing online brokers IFC Markets versus FXOpen in terms of fund transfer options, neither broker supports ACH or SEPA transfers nor does either offer PayPal for deposits or withdrawals; however, both brokers allow transactions via Visa or Mastercard and bank wires, with FXOpen additionally supporting Skrill, unlike IFC Markets.
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 | IFC Markets | FXOpen | |
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| Trust Score | 73 | 76 | |
| Winner | check_circle | ||
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| Broker Screenshots | IFC Markets | FXOpen | |
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| Regulation | IFC Markets | FXOpen | |
|---|---|---|---|
| Trust Score | 73 | 76 | |
| Year Founded | 2006 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 0 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | IFC Markets | FXOpen | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | 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). | No | Yes |
| Tier-2 Licenses (Trusted) | IFC 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 | IFC Markets | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 630 | 87 | |
| Forex Pairs (Total) | 49 | 25 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers |
| Cost | IFC Markets | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.44 | N/A | |
| All-in Cost EUR/USD - Active | 1.1 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IFC Markets | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $1 | $100 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | IFC 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 | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | IFC 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) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IFC Markets | 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 | 30 | 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 | IFC Markets | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IFC Markets | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | No | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IFC 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 | |
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| Overall | IFC Markets | FXOpen | |
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| Trust Score | 73 | 76 | |
| Winner | check_circle | ||
| Review |
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