Compare FP Markets vs FXOpen
What is FP Markets? What is FXOpen ?
FP Markets is a global contract for differences (CFD) and online retail foreign exchange (Forex) broker established and regulated in Australia since 2005. It offers trading on over 10,000 instruments across forex, shares, indices, commodities, metals, bonds and futures.
FXOpen is one of the world’s leading and fastest growing Forex brokers. It offers trading on over 50 currency pairs, 25+ cryptocurrency CFDs, shares CFDs, index CFDs, spot metals CFDs and commodity CFDs. It was founded in 2003 as an educational center for technical analysis and became a broker in 2005.
FP Markets vs FXOpen Regulation Comparison
Both brokers are regulated by reputable authorities in different jurisdictions. FP Markets is regulated by the Australian Securities and Investment Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the European Securities and Markets Authority (ESMA).
FXOpen is regulated by the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) in Australia, the Financial Services Authority (FSA) in Saint Vincent and the Grenadines, and the Financial Services Commission (FSC) in Mauritius.
FP Markets vs FXOpen Trading Assets Comparison
| Asset Class | FP Markets | FXOpen |
|---|---|---|
| Forex | 60+ | 50 |
| Cryptocurrencies | 25+ | 25+ |
| Shares | 10,000+ | Yes |
| Indices | 19 | Yes |
| Commodities | Yes | Yes |
| Metals | Yes | Yes |
| Bonds | Yes | No |
| Futures | Yes | No |
FP Markets vs FXOpen Trading Fees Comparison
Both brokers charge competitive fees for trading, but they have different pricing models and structures. FP Markets offers two types of accounts: Standard and ECN Raw. The Standard account has no commission but wider spreads, while the ECN Raw account has low spreads from 0.0 pips but commissions from $3 per lot per side. FXOpen also offers two types of accounts: STP and ECN. The STP account has no commission but variable spreads from 0.7 pips, while the ECN account has tight spreads from 0 pips but commissions from $1.5 per lot per side.
FP Markets vs FXOpen Account Types Comparison
Here is a table that compares some of the main features of each account type:
| Feature | FP Markets Standard | FP Markets ECN Raw | FXOpen STP | FXOpen ECN |
|---|---|---|---|---|
| Minimum Deposit | $100 AUD or equivalent | $100 AUD or equivalent | $10 USD or equivalent | $100 USD or equivalent |
| Maximum Leverage | Up to 1:500 | Up to 1:500 | Up to 1:500 | Up to 1:500 |
| Minimum Lot Size | 0.01 lot (1,000 units) | 0.01 lot (1,000 units) | 0.01 lot (1,000 units) | 0.01 lot (1,000 units) |
| Maximum Lot Size | No limit | No limit | No limit | No limit |
| Margin Call Level | 100% | 100% | 50% | 100% |
| Stop Out Level | 50% | 50% | 30% | 50% |
| Execution Type | Market execution with no requotes or slippage | Market execution with no requotes or slippage | Market execution with no requotes or slippage | Market execution with no requotes or slippage |
| Trading Platforms | MT4, MT5, IRESS, WebTrader & mobile apps for iPhone and Android devices | MT4, MT5, IRESS, WebTrader & mobile apps for iPhone and Android devices | MT4, MT5, TickTrader & mobile apps for iPhone and Android devices | MT4, MT5, TickTrader & mobile apps for iPhone and Android devices |
FP Markets vs FXOpen Deposit Options Comparison
| Payment Method | FP Markets | FXOpen |
|---|---|---|
| Bank Wire Transfer | No fees for deposits or withdrawals in AUD, EUR, GBP or USD. Fees may apply for other currencies or intermediary banks. | No fees for deposits or withdrawals in EUR or USD. Fees may apply for other currencies or intermediary bank. |
| Credit/Debit Card | No fees for deposits or withdrawals in AUD, EUR, GBP or USD. Fees may apply for other currencies. | No fees for deposits in EUR or USD. 2.5% + $3.5 fee for withdrawals in EUR or USD. Fees may apply for other currencies. |
| E-Wallets (Skrill, Neteller, etc.) | No fees for deposits in AUD, EUR, GBP or USD. Fees may apply for other currencies. 2% fee for withdrawals in any currency. | No fees for deposits in EUR or USD. 1% fee for withdrawals in EUR or USD. Fees may apply for other currencies. |
| Cryptocurrencies (Bitcoin, Ethereum, etc.) | No fees for deposits or withdrawals in any cryptocurrency. | No fees for deposits in any cryptocurrency. 0.001 BTC fee for withdrawals in Bitcoin. Fees may vary for other cryptocurrencies. |
FP Markets vs FXOpen Trading Platforms Comparison
Both brokers offer a range of trading platforms to suit different trading needs and preferences. They both support the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are widely used by traders around the world for their advanced features, user-friendly interface and compatibility with various devices and operating systems. They also offer their own proprietary platforms: FP Markets offers IRESS, a web-based platform that provides access to over 10,000 instruments across multiple markets and exchanges, while FXOpen offers TickTrader, a web-based platform that allows trading on forex, stocks, crypto and CFDs with advanced tools and features. Both brokers also offer web-based and mobile versions of their platforms for convenience and accessibility.
FP Markets vs FXOpen Analytical Tools Comparison
Both brokers provide various analytical tools and resources to help traders make informed trading decisions and improve their skills. Some of the common tools include:
- Economic calendar: A tool that displays the upcoming economic events and indicators that may affect the market movements and volatility.
- Market news: A tool that provides the latest market news and analysis from reputable sources and experts.
- Trading signals: A tool that provides trading recommendations based on technical analysis and market trends.
- Trading calculators: A tool that helps traders calculate various parameters such as margin, pip value, swap, commission, etc..
- Trading education: A tool that offers various educational materials such as articles, videos, webinars, ebooks, etc. to help traders learn the basics and advanced topics of trading.
FP Markets vs FXOpen . Which forex broker is better? Which forex broker should you choose?
Choosing the right broker depends on your personal preferences, trading goals, risk appetite and other factors. However, there are a few things you can consider:
- If you are looking for a broker with more trading instruments and variety, FP Markets may be a better choice, as it offers over 10,000 instruments across multiple asset classes, while FXOpen offers around 100 instruments.
- If you are looking for a broker with lower trading fees and commissions, FXOpen may be a better choice, as it offers lower commissions on its ECN account and no commissions on its STP account, while FP Markets charges higher commissions on its ECN Raw account and wider spreads on its Standard account.
- If you are looking for a broker with more trading platforms and options, FP Markets may be a better choice, as it offers MT4, MT5, IRESS, WebTrader and mobile apps, while FXOpen offers MT4, MT5, TickTrader and mobile apps.
- If you are looking for a broker with more analytical tools and resources, both brokers offer similar tools such as economic calendar, market news, trading signals, trading calculators and trading education.
In the end, the best way to decide which broker is better for you is to experiment for yourself. You can open a free demo account with both brokers and test out their services and features before signing up for a real account. You can also read online reviews and feedback from other traders who have used both brokers and see what they have to say about their experience.
