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FXOpen vs TeleTrade 2023

ForexBrokers.com

Written by ForexBrokers.com

August 29, 2023

Is FXOpen better than TeleTrade? In our analysis of 23 international regulators across 62 of the best forex brokers, FXOpen is considered Trusted, with an overall Trust Score of 80 out of 99. TeleTrade is considered Average Risk, with an overall Trust Score of 71 out of 99. Learn more about Trust Score.

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Compare

0 of 5
Overall Rating FXOpen TeleTrade
Overall Rating info 3.5/5 Stars 3.5/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Offering of Investments 3/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 3/5 Stars 3.5/5 Stars
Education 3/5 Stars 3/5 Stars
Trust Score info 80 71
Winner check_circle
Review
Broker Screenshots FXOpen TeleTrade
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation FXOpen TeleTrade
Trust Score info 80 71
Year Founded info 2003 1994
Publicly Traded (Listed) info No No
Bank info No No
European Union Authorised (MiFID) info Yes info Yes info
Tier-1 Licenses info 3 1
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 0
Tier-1 Licenses (Highly Trusted) FXOpen TeleTrade
Australia (ASIC Authorised) info Yes No
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info No No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
European Union Authorised (MiFID) info Yes info Yes info
Tier-2 Licenses (Trusted) FXOpen TeleTrade
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA/Central Bank Authorised) info No No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments FXOpen TeleTrade
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 87 500
Forex Pairs (Total) info 25 61
U.S. Stock Trading (Non CFD) info No No
Int'l Stock Trading (Non CFD) info No No
Social Trading / Copy Trading info Yes Yes
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info 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 FXOpen TeleTrade
Average Spread EUR/USD - Standard info N/A info N/A
All-in Cost EUR/USD - Active info N/A info N/A
Active Trader or VIP Discounts info Yes Yes
Inactivity Fee info Yes No
Execution: Agency Broker info Yes No
Execution: Market Maker info Yes Yes
Funding FXOpen TeleTrade
Minimum Deposit info $100 $100
PayPal (Deposit/Withdraw) info No No
Skrill (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Trading Platforms FXOpen TeleTrade
Proprietary Platform info No No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes Yes
cTrader info No No
DupliTrade info No No
ZuluTrade info Yes Yes
Trading Tools FXOpen TeleTrade
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 7 7
Charting - Indicators / Studies (Total) info 30 35
Charting - Drawing Tools (Total) info 15 15
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading FXOpen TeleTrade
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info No No
Mobile Charting - Indicators / Studies info 30 35
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info No Yes
Forex Calendar info Yes Yes
Research FXOpen TeleTrade
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No No
Trading Central (Recognia) info No No
Social Sentiment - Currency Pairs info No No
Economic Calendar info Yes Yes
Education FXOpen TeleTrade
Education (Forex or CFDs) info No No
Client Webinars info No No
Client Webinars (Archived) info No No
Videos - Beginner Trading Videos info No No
Videos - Advanced Trading Videos info No No
Investor Dictionary (Glossary) info Yes No
Major Forex Pairs FXOpen TeleTrade
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review
Overall FXOpen TeleTrade
Overall Rating info 3.5/5 Stars 3.5/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Offering of Investments 3/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 3/5 Stars 3.5/5 Stars
Education 3/5 Stars 3/5 Stars
Trust Score info 80 71
Winner check_circle
Review
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FXOpen vs TeleTrade 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 FXOpen vs TeleTrade.

Does FXOpen or TeleTrade 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, FXOpen offers better pricing overall for traders.

Is FXOpen or TeleTrade 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. FXOpen holds 3 global Tier-1 licenses, while TeleTrade holds 1. Both FXOpen and TeleTrade hold 0 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, FXOpen (80) earned a higher Trust Score than TeleTrade (71).

Which trading platform is better: FXOpen or TeleTrade?

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

How many forex pairs and CFDs are available to trade?

TeleTrade provides traders 61 currency pairs (e.g., EUR/USD) compared to FXOpen's 25 available pairs. Forex pairs aside, TeleTrade offers traders access to 500 CFDs while FXOpen has 87 available CFDs, a difference of 413.

Can I trust FXOpen?

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.

Can I trust TeleTrade?

TeleTrade is not publicly traded and does not operate a bank. TeleTrade is authorised by one Tier-1 regulator (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulator (Average Risk), and zero Tier-4 regulators (High Risk). TeleTrade is authorised by the following tier-1 regulator: European Union Authorized (MiFID).

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.

Is TeleTrade good?

TeleTrade was an early pioneer of mobile apps for finance, then became a forex and CFD broker, now offering the MetaTrader platform. With just one regulatory license, Teletrade has a lower Trust Score than more established forex brokers.

Overall winner: FXOpen

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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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