IronFX vs FXOpen 2023

IronFX is not publicly traded and does not operate a bank. IronFX is authorised by three tier-1 regulators (high trust), zero tier-2 regulators (average trust), zero tier-3 regulators (low trust), and one tier-4 regulator. IronFX is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), European Union Authorized (MiFID), and the Financial Conduct Authority (FCA).

FXOpen is not a publicly traded company, does not operate a bank, and is authorised by three Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). FXOpen is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and the European Union via MiFID.

IronFX has come a long way to rebuild its brand, acquiring multiple regulatory licenses to improve its Trust Score, and creating balanced educational material. That said, pricing is an area where Iron FX has room to further improve as spreads appeared higher than the industry average.

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.

To open a forex trading account with IronFX, you'll need to make an initial minimum deposit of $50.

IronFX requires a minimum deposit of $100 before you can open an account and start trading forex.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Both IronFX and FXOpen offer Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw)

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that FXOpen offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 100 international regulatory agencies to help you choose the most well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Both IronFX and FXOpen hold 3 global Tier-1 licenses. Both IronFX and FXOpen hold 0 global Tier-2 licenses.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that IronFX (84) earned a higher Trust Score than FXOpen (80).

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

Here’s what trading platforms are available at IronFX:

• Proprietary Platform - No
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - No
• ZuluTrade - No
• TradingView - No

Here’s what trading platforms are available at FXOpen:

• Proprietary Platform - No
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - Yes
• TradingView - No

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Both IronFX and FXOpen offer MetaTrader 4 (MT4). Forex traders also appreciate the ability to engage in social copy trading. IronFX and FXOpen both offer copy trading.

IronFX provides traders 83 currency pairs (e.g., EUR/USD) compared to FXOpen's 25 available pairs. If you are interested in trading CFDs, IronFX offers traders access to 340 CFDs, while FXOpen offers access to 87 CFDs; so IronFX offers 253 more CFDs than FXOpen.

We found in our testing that FXOpen offers a more diverse selection of investment options than IronFX, allowing you to trade both brokers allow traders to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Cryptocurrency (Derivative) and Social Trading / Copy Trading. Neither have Int'l Stock Trading (Non CFD), Cryptocurrency (Physical) and Spread Betting.