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 XTB.
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. Both FXOpen and XTB share a rating of 4.00 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 XTB are regulated in a major hub. XTB is a publicly traded company while FXOpen is not. How many currency pairs are available to trade? FXOpen offers its clients access to 63 different currency pairs while XTB has 49 available pairs, a difference of 14.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. Both FXOpen and XTB 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 XTB offer the same number of charting tools, 31. FXOpen and XTB offer the same number of indicators (eg, volume), 51.
Overall, XTB comes out on top with 4.00 stars over FXOpen's 3.50 stars. And, when it comes to individual category awards, XTB was rated Best in Class - Customer Service in 2018, while FXOpen was rated none of these.