Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare FXOpen vs Swissquote.
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. FXOpen received a rating of 4.00 stars over Swissquote's 3.50 stars.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. Both FXOpen and Swissquote are regulated in a major hub. Swissquote is a publicly traded company, FXOpen isn't. How many currency pairs are available to trade? Swissquote boasts an offering of 78 different currency pairs compared to FXOpen's 63 available pairs.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. FXOpen alongside Swissquote offer Meta Trader. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. FXOpen and Swissquote offer the same number of charting tools, 31. FXOpen and Swissquote offer the same number of indicators (eg, volume), 51.
Overall, Swissquote boasts 4.00 stars versus FXOpen's 3.50 stars. And, when it comes to individual category awards, Swissquote was rated Best in Class - Customer Service in 2018, while FXOpen was rated none of these.