Written by ForexBrokers.com
In this head to head comparison of iFOREX 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.
When comparing online brokers iFOREX and FXOpen, it's essential to consider their years of operation, licensing, and trust scores. iFOREX, founded in 1996, holds one Tier-1 license and has a Trust Score of 75, indicating an average risk according to ForexBrokers.com. On the other hand, FXOpen began in 2003 and holds two Tier-1 licenses, with a slightly higher Trust Score of 76. Neither iFOREX nor FXOpen is publicly traded or operates as a bank.
While both brokers are relatively similar in terms of trustworthiness, the difference in the number of Tier-1 licenses suggests that FXOpen may provide slightly more regulatory security. However, both brokers fall under the average risk category, indicating a moderate level of reliability in the realm of online trading platforms. Ultimately, choosing between iFOREX and FXOpen may come down to individual trading needs and preferences.
| Feature |
iFOREX
|
FXOpen
|
|---|---|---|
| Year Founded | 1996 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When it comes to comparing iFOREX and FXOpen for commissions and fees, there are notable differences between the two brokers. iFOREX, though a well-known online broker, has been rated 3 out of 5 stars for commissions and fees by ForexBrokers.com. In terms of its ranking among 63 brokers, iFOREX stands at #61. Unfortunately, specific details like average spread data for iFOREX are not available, which might make it challenging for potential investors to gauge the precise cost of trading with them.
On the other hand, FXOpen offers a more competitive fee structure, earning a commendable 4 out of 5 stars for its commissions and fees. This higher rating reflects FXOpen's generally more favorable pricing for traders. FXOpen ranks at #44 out of 63 brokers, showcasing its stronger standing in the Commissions and Fees category according to ForexBrokers.com. Similar to iFOREX, detailed average spread data for FXOpen is not provided, but their higher star rating suggests a more cost-effective option for traders.
In conclusion, while both iFOREX and FXOpen are established names in online trading, FXOpen appears to offer more competitive fees and commissions, making it a better choice for cost-conscious traders. With a higher star rating and ranking, FXOpen stands out as a more attractive option for those looking to minimize their trading expenses.
| Feature |
iFOREX
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $100 | $100 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | 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 the range of investments offered by iFOREX and FXOpen, iFOREX stands out with a greater variety of trading options. iFOREX provides access to 750 tradeable symbols, including 88 forex pairs, giving traders a broad spectrum of choices. Like FXOpen, iFOREX supports forex trading both as CFDs and spot contracts. However, neither platform allows clients to purchase exchange-traded securities on U.S. or international exchanges, nor do they offer the ability to buy actual, delivered cryptocurrencies.
FXOpen, on the other hand, offers a more limited selection with 87 tradeable symbols, including 25 forex pairs. It shares similarities with iFOREX in terms of providing cryptocurrency derivatives instead of actual cryptocurrencies. FXOpen, however, does offer the advantage of copy trading. Despite these offerings, FXOpen is rated slightly lower than iFOREX, with 3 stars for its range of investments compared to iFOREX's 3.5 stars. In ForexBrokers.com's ranking of 63 brokers, iFOREX holds the 41st position in the Range of Investments category, while FXOpen is positioned at 62nd.
| Feature |
iFOREX
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 750 | 87 |
| Forex Pairs (Total) | 88 | 25 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | No | 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 the trading platforms and tools offered by iFOREX and FXOpen, both brokers have unique strengths catering to different trader preferences. iFOREX provides a proprietary, web-based trading platform that offers the convenience of trading directly from stock charts and a rich experience with 25 drawing tools. However, it lacks a Windows-based desktop platform and popular trading platforms like MetaTrader 4 and 5. Additionally, iFOREX does not currently support simulated trading with a demo account or copy trading services, which could be a drawback for those new to trading or interested in social trading capabilities.
FXOpen, on the other hand, supports a Windows-based desktop platform and offers access to both MetaTrader 4 and 5, providing traders with a familiar and versatile trading environment. FXOpen excels in offering a free demo account for beginners and supports copy trading through ZuluTrade, an attractive feature for those interested in replicating the trades of seasoned traders. While FXOpen provides fewer drawing tools compared to iFOREX, it still allows trading directly from stock charts and offers a well-rounded selection of trading tools. Both brokers score four stars for their trading platforms and tools, although FXOpen edges slightly higher in the rankings on ForexBrokers.com, indicating a marginal preference among users in this category.
| Feature |
iFOREX
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | No | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 57 | 30 |
| Charting - Drawing Tools (Total) | 25 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 9 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of iFOREX and FXOpen, both brokers offer apps compatible with iPhone and Android devices, making their platforms accessible to a wide range of traders. FXOpen, however, provides more comprehensive features. It includes price alerts for stock and forex markets, which can be crucial for traders looking to stay informed about market movements. Additionally, FXOpen supports 30 technical studies for chart analysis within its app, while iFOREX has not disclosed its offerings in this area, potentially limiting in-depth analysis for traders on its platform.
FXOpen allows users to draw trendlines and view multiple time frames, such as daily or weekly charts, whereas iFOREX does not offer these charting capabilities. While neither platform supports watchlist syncing between mobile and online accounts, FXOpen stands out again by enabling users to create a watchlist with real-time quotes, unlike iFOREX. Despite these differences, both brokers have received similar overall mobile trading app ratings of 4 out of 5 stars. However, on ForexBrokers.com, FXOpen slightly edges iFOREX in ranking, positioned at #54 compared to iFOREX's #55 out of 63 brokers. This comparison suggests that while both apps are serviceable, FXOpen may provide a more feature-rich trading experience on mobile devices.
| Feature |
iFOREX
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | No | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | N/A | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | No | Yes |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | No | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, iFOREX and FXOpen both offer daily market commentary, providing traders with regular updates on market trends. However, FXOpen stands out by delivering forex news from well-known sources like Bloomberg, Reuters, and Dow Jones, whereas iFOREX does not include such top-tier news feeds. In terms of analytical support, iFOREX provides tools from Trading Central, enhancing trading strategies with technical analytics, unlike FXOpen, which does not offer similar tools. Both brokers do not offer services from Autochartist or Acuity Trading, nor do they provide market research from TipRanks, but iFOREX holds an edge with additional sentiment-based trading tools to offer further insights into market dynamics.
Both iFOREX and FXOpen offer economic calendars to keep traders informed about global economic events. When evaluating their overall research offerings, iFOREX receives a higher rating of 3.5 stars, while FXOpen gets 3 stars. According to ForexBrokers.com, iFOREX ranks 48th out of 63 brokers in the Research category, surpassing FXOpen, which stands at 63rd. This comparative analysis highlights the distinctive features of each platform, where iFOREX seems to provide more comprehensive research tools than FXOpen, despite both offering fundamental market commentary and calendars.
| Feature |
iFOREX
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | 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 comparing educational resources for beginners offered by iFOREX and FXOpen, there are some notable differences. iFOREX provides over 10 beginner educational videos, making it a solid choice for newcomers looking to grasp basic trading concepts through visual content. In contrast, FXOpen does not meet this benchmark for beginner videos. Nonetheless, FXOpen supplies an investor dictionary with a wide range of trading terms, which might be helpful for those who prefer understanding industry jargon at their own pace.
Neither iFOREX nor FXOpen currently offers educational webinars or archived sessions, which could limit learning opportunities for traders seeking interactive or presentation-based resources. While iFOREX scores 3.5 stars and ranks #53 out of 63 brokers for education, FXOpen scores slightly less with 3 stars, ranked #58, reflecting their different strengths and areas for improvement in supporting beginner traders.
| Feature |
iFOREX
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | No | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | No | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that iFOREX is better than FXOpen. iFOREX finished with an overall rank of #52, while FXOpen finished with an overall rank of #54.
iFOREX is operated by a long-standing company, previously known as Vestle, with regulatory status in a growing number of jurisdictions, offering forex and CFDs through its proprietary platform. The biggest drawback is the lack of markets you can trade with fewer than 200, compared to the best multi asset forex and CFD brokers.
| Feature |
iFOREX
|
FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 75 | 76 |
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Both iFOREX and FXOpen do not offer the ability to buy actual delivered cryptocurrency, but they do allow trading in cryptocurrency derivatives.
When comparing online brokers iFOREX and FXOpen, it's essential to note that both lack ACH or SEPA transfer options for funding, but iFOREX supports PayPal whereas FXOpen does not, and both brokers facilitate transactions via 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 | iFOREX | FXOpen | |
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| Trust Score | 75 | 76 | |
| Winner | check_circle | ||
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| Broker Screenshots | iFOREX | FXOpen | |
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| Regulation | iFOREX | FXOpen | |
|---|---|---|---|
| Trust Score | 75 | 76 | |
| Year Founded | 1996 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 1 | 2 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | iFOREX | 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) | 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) | iFOREX | FXOpen | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | iFOREX | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 750 | 87 | |
| Forex Pairs (Total) | 88 | 25 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | No | 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 | iFOREX | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | iFOREX | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $100 | $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 | iFOREX | FXOpen | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | iFOREX | FXOpen | |
|---|---|---|---|
| Virtual Trading (Demo) | No | Yes | |
| Alerts - Basic Fields | No | Yes | |
| Watchlists - Total Fields | 9 | 7 | |
| Charting - Indicators / Studies (Total) | 57 | 30 | |
| Charting - Drawing Tools (Total) | 25 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | No | Yes |
| Mobile Trading | iFOREX | FXOpen | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | No | Yes | |
| Mobile Watchlist | No | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | N/A | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | No | Yes | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | No | Yes |
| Research | iFOREX | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | iFOREX | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | No | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | No | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | iFOREX | 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 |
| Overall | iFOREX | FXOpen | |
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| Trust Score | 75 | 76 | |
| Winner | check_circle | ||
| Review |
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