Compare AvaTrade vs FXOpen
What is AvaTrade? What is FXOpen?
AvaTrade is a global forex broker that was founded in 2006 and is regulated by nine authorities across six continents. AvaTrade offers over 1,250 trading instruments, including forex, stocks, commodities, indices, ETFs, and options. AvaTrade also provides various trading platforms, such as MT4, MT5, AvaOptions, AvaTradeGO, and AvaSocial. AvaTrade aims to empower traders with confidence, security, and education.
FXOpen is a forex broker that was established in 2003 and is regulated by three authorities in Australia, the United Kingdom, and Cyprus. FXOpen offers trading on forex, stocks, crypto CFDs, indices, spot metals, and commodities. FXOpen also supports various trading platforms, such as MT4, MT5, and TickTrader. FXOpen claims to be one of the first brokers to offer ECN trading and interbank liquidity access.
AvaTrade vs FXOpen Regulation Comparison
AvaTrade has a higher trust score than FXOpen, as it holds four global Tier-1 licenses from ASIC (Australia), FSA (Japan), ISA (Israel), and Central Bank of Ireland (Ireland). AvaTrade also holds three global Tier-2 licenses from FSCA (South Africa), ADGM/FSRA (United Arab Emirates), and FSC (British Virgin Islands). Additionally, AvaTrade has one global Tier-4 license from CySEC (Cyprus).
FXOpen has three global Tier-1 licenses from ASIC (Australia), FCA (United Kingdom), and FSA (Japan). FXOpen does not have any global Tier-2 or Tier-3 licenses. However, FXOpen is a member of The Financial Commission (United Kingdom), which is an independent dispute resolution organization for the forex industry.
AvaTrade vs FXOpen Trading Assets Comparison
AvaTrade offers more trading assets than FXOpen, as it has 1,260 tradeable symbols across various categories, such as forex pairs, cryptocurrency CFDs, shares CFDs, index CFDs, spot metals CFDs, commodity CFDs, ETFs, and options.
FXOpen offers 87 tradeable symbols across forex pairs, cryptocurrency CFDs, shares CFDs, index CFDs, spot metals CFDs, and commodity CFDs.
AvaTrade vs FXOpen Trading Fees Comparison
AvaTrade has lower trading fees than FXOpen for forex trading, as it has fixed spreads and no commissions. The average spread for EUR/USD at AvaTrade is 0.92 pips.
FXOpen has variable spreads and commissions for forex trading. The average spread for EUR/USD at FXOpen is not available on its website.
AvaTrade vs FXOpen Account Types Comparison
AvaTrade offers four account types: Retail Account (standard account for most traders), Professional Account (for experienced traders who can access higher leverage and lower spreads), Islamic Account (swap-free account for Muslim traders), and MAM Account (for money managers who can manage multiple accounts).
FXOpen offers five account types: ECN Account (for traders who want access to interbank liquidity and raw spreads), STP Account (for traders who want market execution and no commissions), Crypto Account (for traders who want to trade cryptocurrency pairs with high leverage), Micro Account (for beginners who want to trade with small amounts), and Islamic Account (swap-free account for Muslim traders).
AvaTrade vs FXOpen Deposit Options Comparison
AvaTrade supports more deposit and withdrawal options than FXOpen. AvaTrade accepts WebMoney, Skrill, Wire transfer, Credit / debit cards, Neteller, and UnionPay.
FXOpen accepts Wire transfer, Credit/debit cards, FasaPay, Crypto, Litecoin, Ethereum, Crypto Cash, Tether (USDT), WebMoney, and AdvCash.
AvaTrade vs FXOpen Trading Platforms Comparison
AvaTrade supports more trading platforms than FXOpen. AvaTrade offers MT4, MT5, AvaOptions, AvaTradeGO, and AvaSocial. MT4 and MT5 are the most popular and widely used platforms in the forex industry, as they have advanced charting tools, indicators, and automated trading features. AvaOptions is a platform for trading vanilla options with risk management tools. AvaTradeGO is a mobile app that allows traders to access their accounts, markets, and tools on the go. AvaSocial is a social trading app that enables traders to copy the strategies of expert traders.
FXOpen supports MT4, MT5, and TickTrader. MT4 and MT5 are the same platforms as mentioned above. TickTrader is a platform that allows traders to trade forex, stocks, crypto CFDs, and futures with one-click trading, advanced charting, and technical analysis tools.
AvaTrade vs FXOpen Analytical Tools Comparison
AvaTrade provides more analytical tools than FXOpen. AvaTrade offers economic calendar, market news, trading calculator, trading central, Autochartist, Sharp Trader Academy, and AvaProtect. The economic calendar shows the upcoming events and data releases that may affect the market movements. The market news provides the latest updates and insights on the financial markets. The trading calculator helps traders to calculate their margin, profit, and loss. The trading central is a third-party service that provides technical analysis, signals, and market commentary. The Autochartist is a tool that scans the market for patterns and trends and generates trading ideas. The Sharp Trader Academy is an educational platform that offers courses, videos, articles, and quizzes on various trading topics. The AvaProtect is a risk management tool that allows traders to protect their trades from losses for a specified period.
FXOpen provides economic calendar, market news, VPS service, and PAMM service. The economic calendar and market news are similar to those offered by AvaTrade. The VPS service is a virtual private server that allows traders to run their automated trading systems without interruption. The PAMM service is a system that enables traders to copy the trades of successful managers or offer their own strategies for others to follow.
AvaTrade vs FXOpen. Which forex broker is better? Which forex broker should you choose?
There is no definitive answer to which forex broker is better or which one you should choose, as different brokers may suit different traders depending on their preferences, goals, and strategies. However, you can consider some of the following factors to help you make your decision:
- Trust score: AvaTrade has a higher trust score than FXOpen, as it is regulated by more reputable and stringent authorities across the world. If you value security and protection, you may prefer AvaTrade over FXOpen.
- Trading assets: AvaTrade offers more trading assets than FXOpen, as it has more tradeable symbols across various categories. If you want to diversify your portfolio and explore more opportunities, you may prefer AvaTrade over FXOpen.
- Trading fees: AvaTrade has lower trading fees than FXOpen for forex trading, as it has fixed spreads and no commissions. If you want to save costs and increase your profits, you may prefer AvaTrade over FXOpen.
- Account types: AvaTrade and FXOpen offer different account types that cater to different types of traders. If you are a beginner or a Muslim trader, you may prefer FXOpen’s Micro Account or Islamic Account. If you are an experienced or a professional trader, you may prefer AvaTrade’s Professional Account or MAM Account.
- Deposit and withdrawal options: AvaTrade and FXOpen support different deposit and withdrawal options that may vary in terms of convenience and availability. You may prefer the broker that accepts the option that is most suitable for you.
- Trading platforms: AvaTrade and FXOpen support different trading platforms that may vary in terms of features and functionality. You may prefer the broker that offers the platform that is most compatible with your device and trading style.
- Analytical tools: AvaTrade and FXOpen provide different analytical tools that may help you with your market analysis and trading decisions. You may prefer the broker that offers the tools that are most useful and reliable for you.
Ultimately, the choice is yours to make based on your own research and evaluation.
