Compare ForexMart vs FXOpen
What is ForexMart? What is FXOpen?
ForexMart is a forex broker that was established in 2014 and is regulated by the Cyprus Securities and Exchange Commission (CySEC). It offers trading in forex, CFDs, crypto, and energies with variable spreads and leverage up to 1:500.
FXOpen is a forex broker that was founded in 2003 and is regulated by the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) in Australia, and the Financial Commission in the UK. It offers trading in forex, CFDs, crypto, stocks, indexes, and oil with variable spreads and leverage up to 1:500.
ForexMart vs FXOpen Regulation Comparison
Both brokers are regulated by reputable authorities in their respective jurisdictions. However, FXOpen has more licenses than ForexMart, which may indicate a higher level of trustworthiness and security for its clients. FXOpen is also a member of the Financial Commission, which provides an independent dispute resolution service for traders.
ForexMart vs FXOpen Trading Assets Comparison
Both brokers offer a wide range of trading instruments, including forex, CFDs, crypto, and commodities. However, FXOpen has more options than ForexMart, as it also provides trading in stocks and indexes. FXOpen also has more currency pairs (50+) and crypto pairs (43+) than ForexMart (28+ and 25+, respectively).
ForexMart vs FXOpen Trading Fees Comparison
Both brokers charge variable spreads on their trades, which depend on the market conditions and the type of account. ForexMart does not charge any commissions on its trades, while FXOpen charges commissions from $1.5 to $20 per lot depending on the account type and the instrument.
ForexMart also offers a zero spread account with a fixed commission of $2 per lot. Both brokers may charge swap fees for holding positions overnight, unless the trader has an Islamic account that is swap-free.
ForexMart vs FXOpen Account Types Comparison
Both brokers offer different types of accounts to suit different trading styles and preferences. ForexMart has four account types: Standard, Zero Spread, Micro, and ECN. FXOpen has five account types: Micro, STP, ECN, Crypto, and PAMM.
The main differences between the account types are the minimum deposit, the maximum leverage, the spread type, the commission rate, and the available instruments.
ForexMart vs FXOpen Deposit Options Comparison
Both brokers offer various payment methods for depositing and withdrawing funds from their accounts. ForexMart accepts Skrill, Wire transfer, Credit / debit cards, Neteller, UnionPay, FasaPay, Crypto, Crypto Cash, Local bank transfer and Tether (USDT). FXOpen accepts Wire transfer, Credit/debit cards, FasaPay, Crypto, Litecoin, Ethereum, Crypto Cash, Tether (USDT), WebMoney and AdvCash. Both brokers do not charge any deposit fees but may charge withdrawal fees depending on the method used.
ForexMart vs FXOpen Trading Platforms Comparison
Both brokers use MetaTrader 4 as their main trading platform, which is a popular and user-friendly platform that supports automated trading, one-click trading, trailing stop orders, pending orders, and various technical indicators and charting tools. FXOpen also offers MetaTrader 5 (MT5), TickTrader (TT), TradingView as alternative platforms that have more advanced features and functionalities than MT4.
ForexMart vs FXOpen Analytical Tools Comparison
Both brokers provide their clients with various analytical tools to help them with their trading decisions and strategies.
ForexMart offers free education materials such as webinars, articles, news updates, testimonials from other traders on its website. FXOpen offers market analysis reports from Trading Central (TC), economic calendar from Investing.com (IC), social trading service from ZuluTrade (ZT), copy trading service from Myfxbook AutoTrade (MA), VPS service from BeeksFX (BF), and PAMM service for investors and money managers.
ForexMart vs FXOpen. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is a personal decision that depends on your trading goals, preferences, and risk appetite. There is no definitive answer to which broker is better, as each one has its own advantages and disadvantages. However, you can compare ForexMart and FXOpen on some key aspects and decide which one suits you better.
- Regulation: If you value the security and protection of your funds, you may prefer FXOpen over ForexMart, as FXOpen has more licenses from reputable regulators and is a member of the Financial Commission, which provides an independent dispute resolution service for traders.
- Trading Assets: If you want to diversify your portfolio and trade a variety of instruments, you may prefer FXOpen over ForexMart, as FXOpen offers more options than ForexMart, including stocks and indexes.
- Trading Fees: If you want to save on trading costs and enjoy low or zero spreads, you may prefer ForexMart over FXOpen, as ForexMart does not charge any commissions on its trades, while FXOpen charges commissions from $1.5 to $20 per lot depending on the account type and the instrument. ForexMart also offers a zero spread account with a fixed commission of $2 per lot.
- Account Types: If you want to choose an account type that matches your trading style and preferences, you may find both brokers suitable, as they offer different types of accounts with different features and conditions. However, you should pay attention to the minimum deposit, the maximum leverage, the spread type, the commission rate, and the available instruments for each account type before opening one.
- Deposit and Withdrawal Options: If you want to have a convenient and fast way of depositing and withdrawing funds from your account, you may find both brokers suitable, as they offer various payment methods with no deposit fees and low withdrawal fees. However, you should check the availability, processing time, and minimum and maximum limits for each method before using it.
- Trading Platforms: If you want to use a reliable and user-friendly trading platform that supports automated trading, one-click trading, trailing stop orders, pending orders, and various technical indicators and charting tools, you may find both brokers suitable, as they use MetaTrader 4 as their main trading platform. However, if you want to use more advanced platforms that have more features and functionalities than MT4, you may prefer FXOpen over ForexMart, as FXOpen also offers MetaTrader 5 (MT5), TickTrader (TT), TradingView as alternative platforms.
- Analytical Tools: If you want to access various analytical tools that can help you with your trading decisions and strategies, you may prefer FXOpen over ForexMart, as FXOpen provides more tools than ForexMart, such as market analysis reports from Trading Central (TC), economic calendar from Investing.com (IC), social trading service from ZuluTrade (ZT), copy trading service from Myfxbook AutoTrade (MA), VPS service from BeeksFX (BF), and PAMM service for investors and money managers.
