Compare FXOpen vs FXTM
What is FXOpen? What is FXTM?
FXOpen is a multi-asset broker that offers trading on forex, stocks, commodities, indices, cryptocurrencies and ETFs via the MetaTrader 4 & 5 and TradingView platforms. FXOpen is regulated by several trustworthy authorities, including the UK’s FCA and Australia’s ASIC. FXOpen was established in 2003 and has offices in the UK, Australia, Saint Kitts and Nevis, and Mauritius.
FXTM is a forex and CFD broker that offers trading on over 1000 financial instruments, including forex, indices, commodities, stocks and cryptocurrencies. FXTM is regulated by leading authorities, such as the UK’s FCA and Cyprus’ CySEC. FXTM was founded in 2011 and has offices in the UK, Cyprus, South Africa, Mauritius and Kenya.
FXOpen vs FXTM Regulation Comparison
Both FXOpen and FXTM are regulated by reputable financial regulators that ensure the safety and security of their clients’ funds and personal data. However, FXOpen has more regulatory licenses than FXTM, as it is authorized by four different regulators, while FXTM is authorized by three. Here is a list of the regulators for each broker:
- FXOpen: FCA (UK), ASIC (Australia), The Financial Commission (UK), FSC (Mauritius)
- FXTM: FCA (UK), CySEC (Cyprus), FSCA (South Africa), Capital Markets Authority of Kenya (Kenya)
FXOpen vs FXTM Trading Assets Comparison
Both FXOpen and FXTM offer a wide range of trading assets to their clients, covering various markets such as forex, commodities, indices, stocks and cryptocurrencies. However, FXTM has more trading assets than FXOpen, as it offers over 1000 instruments, while FXOpen offers over 600 instruments. Here is a breakdown of the number of instruments for each market:
- Forex: FXOpen offers 45+ currency pairs, while FXTM offers 55+ currency pairs
- Commodities: FXOpen offers 10+ commodities CFDs, while FXTM offers 20+ commodities CFDs
- Indices: FXOpen offers 10+ indices CFDs, while FXTM offers 15+ indices CFDs
- Stocks: FXOpen offers 500+ stocks CFDs, while FXTM offers 300+ stocks CFDs
- Cryptocurrencies: FXOpen offers 25+ cryptocurrencies CFDs, while FXTM offers 5 cryptocurrencies CFDs
FXOpen vs FXTM Trading Fees Comparison
Both FXOpen and FXTM charge competitive trading fees to their clients, depending on the type of account they choose. Both brokers offer variable spreads that depend on the market conditions and the liquidity providers. However, FXOpen also charges commissions on some of its accounts, while FXTM does not charge commissions on any of its accounts. Here is a comparison of the average spreads and commissions for some of the popular instruments:
- EUR/USD: FXOpen charges an average spread of 0.2 pips and a commission of $1.5 per lot on its ECN account, while FXTM charges an average spread of 0.4 pips and no commission on its ECN Zero account
- GBP/USD: FXOpen charges an average spread of 0.6 pips and a commission of $1.5 per lot on its ECN account, while FXTM charges an average spread of 0.9 pips and no commission on its ECN Zero account
- Gold: FXOpen charges an average spread of 9 pips and a commission of $1.5 per lot on its ECN account, while FXTM charges an average spread of 11 pips and no commission on its ECN Zero account
- Bitcoin: FXOpen charges an average spread of $30 and a commission of $1.5 per lot on its Crypto account, while FXTM charges an average spread of $40 and no commission on its Standard account
FXOpen vs FXTM Account Types Comparison
Both FXOpen and FXTM offer different types of accounts to suit the needs and preferences of their clients. Both brokers offer ECN accounts that provide access to the interbank liquidity pool and low spreads with commissions. However, FXOpen also offers STP accounts that provide market execution with no commissions but wider spreads. Additionally, both brokers offer micro accounts for beginners with low minimum deposits and high leverage. Here is a comparison of the main features of some of the account types offered by each broker:
- ECN: FXOpen requires a minimum deposit of $100, offers leverage up to 1:500, charges commissions from $1.5 per lot, provides access to 50+ currency pairs and 25+ cryptocurrencies CFDs, and supports MT4, MT5, TickTrader and TradingView platforms. FXTM requires a minimum deposit of $500, offers leverage up to 1:2000, charges no commissions, provides access to 55+ currency pairs and 5 cryptocurrencies CFDs, and supports MT4 and MT5 platforms.
- STP: FXOpen requires a minimum deposit of $10, offers leverage up to 1:500, charges no commissions, provides access to 50 currency pairs and gold and silver CFDs, and supports MT4 platform. FXTM does not offer STP accounts.
- Micro: FXOpen requires a minimum deposit of $1, offers leverage up to 1:500, charges no commissions, provides access to 28 currency pairs and gold and silver CFDs, and supports MT4 platform. FXTM requires a minimum deposit of $10, offers leverage up to 1:2000, charges no commissions, provides access to 25 currency pairs and 2 metals CFDs, and supports MT4 platform.
FXOpen vs FXTM Deposit Options Comparison
Both FXOpen and FXTM offer various deposit and withdrawal options to their clients, including credit/debit cards, bank wire transfers, e-wallets and cryptocurrencies. However, FXOpen has more payment methods than FXTM, as it supports over 20 options, while FXTM supports over 10 options. Here is a list of some of the payment methods available for each broker:
- FXOpen: Credit/debit cards (Visa, Mastercard), bank wire transfers, e-wallets (Neteller, Skrill, WebMoney, AdvCash), cryptocurrencies (Bitcoin, Litecoin, Ethereum, Tether), local payment methods (Airtm, Alipay, Boleto, Netbanx Asia)
- FXTM: Credit/debit cards (Visa, Mastercard), bank wire transfers, e-wallets (Neteller, Skrill, WebMoney), local payment methods (FasaPay, GlobePay, Google Wallet)
FXOpen vs FXTM Trading Platforms Comparison
Both FXOpen and FXTM offer the popular MetaTrader 4 and MetaTrader 5 platforms to their clients. These platforms are widely used by traders around the world for their user-friendly interface, advanced charting tools, technical indicators, automated trading systems and market news.
However, FXOpen also offers two additional platforms that are not available at FXTM: TickTrader and TradingView. TickTrader is a proprietary platform developed by FXOpen that allows trading on forex, stocks, commodities, indices and cryptocurrencies with one-click execution, multiple order types and advanced analytics. TradingView is a web-based platform that provides access to social trading features, custom indicators and scripts.
FXOpen vs FXTM Analytical Tools Comparison
Both FXOpen and FXTM provide their clients with various analytical tools to help them with their trading decisions. These tools include market news, economic calendars, trading signals, market analysis and educational materials. However, FXTM has more analytical tools than FXOpen, as it offers the following features that are not available at FXOpen:
- FXTM Pivot Points Strategy: A tool that calculates the daily pivot points for major currency pairs and provides trading signals based on them
- FXTM Trading Signals: A tool that provides buy or sell signals for four different trading strategies based on technical analysis
- FXTM Market Outlook: A tool that provides daily market commentary and analysis from FXTM’s experts
- FXTM Invest: A copy trading service that allows investors to follow the trades of successful traders for a fee
FXOpen vs FXTM. 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 style and goals. There is no definitive answer to which broker is better, as both FXOpen and FXTM have their own advantages and disadvantages. However, here are some possible factors that you may want to consider:
- Regulation: If you value the safety and security of your funds and data, you may prefer a broker that is regulated by multiple trustworthy authorities. In this case, FXOpen has an edge over FXTM, as it is authorized by four different regulators, while FXTM is authorized by three.
- Trading Assets: If you want to diversify your portfolio and trade on a variety of markets, you may prefer a broker that offers more trading assets. In this case, FXTM has an edge over FXOpen, as it offers over 1000 instruments, while FXOpen offers over 600 instruments.
- Trading Fees: If you want to save on your trading costs and maximize your profits, you may prefer a broker that charges lower fees. In this case, the comparison is not straightforward, as both brokers offer different types of accounts with different fee structures. You may need to compare the spreads and commissions for the specific instruments and account types that you are interested in.
- Account Types: If you want to find an account that suits your needs and preferences, you may prefer a broker that offers more account options. In this case, both brokers offer various account types, such as ECN, micro and standard accounts. However, FXOpen also offers STP accounts that provide market execution with no commissions but wider spreads. Additionally, FXTM offers FXTM Invest, a copy trading service that allows investors to follow the trades of successful traders for a fee.
- Deposit and Withdrawal Options: If you want to fund and withdraw your money easily and conveniently, you may prefer a broker that offers more payment methods. In this case, FXOpen has an edge over FXTM, as it supports over 20 options, while FXTM supports over 10 options.
- Trading Platforms: If you want to use a reliable and user-friendly platform for your trading activities, you may prefer a broker that offers the popular MetaTrader 4 and MetaTrader 5 platforms. In this case, both brokers offer these platforms to their clients. However, FXOpen also offers two additional platforms that are not available at FXTM: TickTrader and TradingView. TickTrader is a proprietary platform developed by FXOpen that allows trading on forex, stocks, commodities, indices and cryptocurrencies with one-click execution, multiple order types and advanced analytics. TradingView is a web-based platform that provides access to social trading features, custom indicators and scripts.
- Analytical Tools: If you want to enhance your trading performance and skills with various analytical tools, you may prefer a broker that offers more features. In this case, FXTM has an edge over FXOpen, as it offers the following tools that are not available at FXOpen: FXTM Pivot Points Strategy, FXTM Trading Signals, FXTM Market Outlook and FXTM Invest.
