Compare FXOpen vs EagleFX
What is FXOpen? What is EagleFX?
FXOpen is a forex broker that was established in 2003 and is regulated by the FCA, ASIC, CySEC, and the Financial Commission. It offers trading on various platforms, including MT4, MT5, TickTrader, and TradingView. It supports over 50 currency pairs, 25+ cryptocurrencies, shares, indices, metals, and commodities CFDs.
EagleFX is a forex and cryptocurrency broker that was founded in 2018 and is not regulated by any authority. It uses the MT4 platform and provides trading on over 100 assets, including currencies, commodities, stocks, indices, and cryptos. It offers low spreads, high leverage, fast execution, and same-day withdrawals
FXOpen vs EagleFX Regulation Comparison
FXOpen has a higher level of regulation than EagleFX, as it is authorized and supervised by several reputable regulators in different jurisdictions. FXOpen holds licenses from the FCA in the UK, ASIC in Australia, CySEC in Cyprus, and the Financial Commission in the UK. These regulators ensure that FXOpen complies with strict rules regarding client protection, fund segregation, risk management, and fair trading practices.
EagleFX does not have any regulation or license from any authority. This means that it operates without any oversight or accountability for its actions. There is no guarantee that EagleFX follows any industry standards or ethical principles. Trading with an unregulated broker exposes you to a higher risk of fraud, manipulation, or loss of funds.
FXOpen vs EagleFX Trading Assets Comparison
FXOpen offers a wider range of trading assets than EagleFX, as it covers more markets and categories. FXOpen allows you to trade over 50 currency pairs, 25+ cryptocurrencies, shares CFDs from US and European markets, index CFDs from global markets, spot metals CFDs (gold and silver), and commodity CFDs (oil and natural gas).
EagleFX provides trading on over 100 assets, including 55 currency pairs, 31 cryptocurrencies, 11 stock CFDs from US markets only, 11 index CFDs from global markets (excluding Asia), and 2 commodity CFDs (gold and silver).
FXOpen vs EagleFX Trading Fees Comparison
FXOpen and EagleFX both charge variable spreads and commissions on their trades. However, the exact fees may vary depending on the account type, trading platform, market conditions, and liquidity providers. Generally speaking, FXOpen has lower spreads and commissions than EagleFX on most instruments.
For example, the average spread for EUR/USD on FXOpen’s ECN account is 0.1 pips with a commission of $1.5 per lot per side. On EagleFX’s standard account, the average spread for EUR/USD is 0.7 pips with a commission of $1.5 per lot per side. This means that the total cost of trading one lot of EUR/USD on FXOpen is $3 while on EagleFX it is $4.4.
FXOpen vs EagleFX Account Types Comparison
FXOpen offers four types of accounts: Micro, STP, ECN, and Crypto. The Micro account is suitable for beginners who want to trade with small amounts and low leverage. The STP account is designed for traders who want to access the interbank market with no commissions and minimal intervention. The ECN account is ideal for advanced traders who want to enjoy raw spreads, high leverage, and fast execution. The Crypto account is dedicated for traders who want to speculate on cryptocurrencies with leverage up to 1:3.
EagleFX only offers one type of account: Standard. The Standard account is a simple and straightforward option for traders who want to trade with low minimum deposit ($10), high leverage (up to 1:500), and no restrictions on scalping or hedging.
FXOpen vs EagleFX Deposit Options Comparison
FXOpen supports more deposit and withdrawal options than EagleFX, as it accepts various payment methods such as wire transfer, credit/debit cards, FasaPay, crypto (Bitcoin, Litecoin, Ethereum), Crypto Cash (USDT), WebMoney, AdvCash. The minimum deposit amount is $1 for Micro accounts and $100 for other accounts. The withdrawal fees vary depending on the payment method but are generally low or free.
EagleFX only accepts wire transfer, credit/debit cards, and crypto (Bitcoin) as payment methods. The minimum deposit amount is $10 for all accounts. The withdrawal fees are free for crypto and $25 for wire transfer. The withdrawal processing time is within 30 minutes for crypto and up to 2 business days for wire transfer.
FXOpen vs EagleFX Trading Platforms Comparison
FXOpen and EagleFX both use the MT4 platform as their main trading platform. MT4 is a popular and user-friendly platform that offers various features and tools, such as interactive charts, technical indicators, analytical functions, expert advisors, and automated trading. Both brokers also provide MT4 mobile apps for Android and iOS devices, as well as MT4 web versions that can be accessed from any browser.
However, FXOpen also offers other trading platforms, such as MT5, TickTrader, and TradingView. MT5 is an upgraded version of MT4 that supports more instruments, order types, indicators, and tools. TickTrader is FXOpen’s own multi-asset trading platform that allows you to trade forex, stocks, crypto, and CFDs on one platform. TradingView is a powerful charting and social trading platform that lets you access thousands of trading ideas, strategies, and signals from other traders.
FXOpen vs EagleFX Analytical Tools Comparison
- FXOpen provides more analytical tools than EagleFX, as it offers various resources and services to help traders with their market analysis and trading decisions. Some of the tools that FXOpen offers are:
- Economic calendar: a tool that shows the dates and times of important economic events and indicators that may affect the market movements.
- Market news: a section that provides the latest news and updates on the global financial markets and events.
- Forex analytics: a service that provides daily technical analysis, market overviews, trading signals, and forecasts from professional analysts.
- Forex education: a section that contains articles, videos, webinars, tutorials, and guides on various topics related to forex trading.
- EagleFX does not offer any analytical tools on its website or platform. The only resource that EagleFX provides is a FAQ page that answers some common questions about its services and features.
FXOpen vs EagleFX. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that depends on your personal preferences, trading goals, and risk appetite. There is no definitive answer to which broker is better, as each one has its own advantages and disadvantages. Ultimately, the choice of broker depends on your personal preferences, trading goals, and risk appetite. You should do your own research and due diligence before opening an account with any broker.
