Compare IFC Markets vs FXOpen
What is IFC Markets? What is FXOpen?
IFC Markets is a forex and CFD broker that was established in 2006 and is regulated by the FSC of the British Virgin Islands. It offers trading on various assets, such as forex, commodities, indices, cryptocurrencies, and shares as CFDs. It also provides its own trading platform called NetTradeX, besides MetaTrader 4 and MetaTrader 5.
FXOpen is a forex and CFD broker that was established in 2003 and is regulated by multiple authorities, such as CySEC, FCA, ASIC, and the Financial Commission. It offers trading on various assets, such as forex, commodities, indices, cryptocurrencies, and shares as CFDs. It also provides its own trading platform called TickTrader, besides MetaTrader 4 and MetaTrader 5.
IFC Markets vs FXOpen Regulation Comparison
Both brokers are regulated by reputable authorities, but FXOpen has more licenses than IFC Markets.
FXOpen is regulated by CySEC (Cyprus), FCA (United Kingdom), ASIC (Australia), and the Financial Commission (United Kingdom), while IFC Markets is only regulated by FSC (British Virgin Islands). This means that FXOpen has more oversight and protection for its clients than IFC Markets.
IFC Markets vs FXOpen Trading Assets Comparison
Both brokers offer a wide range of trading assets, but FXOpen has more options than IFC Markets.
FXOpen offers over 100 currency pairs, 11 indices, 4 metals, 3 energies, 50+ cryptocurrencies, and 120+ shares as CFDs. IFC Markets offers over 50 currency pairs, 8 indices, 4 metals, 2 energies, 26 cryptocurrencies, and 400+ shares as CFDs. However, IFC Markets also offers some unique assets that FXOpen does not have, such as futures, ETFs, options, agriculture, bonds, and binary options.
IFC Markets vs FXOpen Trading Fees Comparison
Both brokers charge variable spreads and commissions for their trading services, but the fees may vary depending on the account type and the trading platform. The average spread for EUR/USD at FXOpen is 0.3 pips with a commission of $1.5 per lot per side, while the average spread for EUR/USD at IFC Markets is 0.8 pips with a commission of $1.5 per lot per side. The average spread for EUR/USD at FXOpen is 0.9 pips with no commission on the MT4 platform, while the average spread for EUR/USD at IFC Markets is 1.8 pips with no commission on the NetTradeX platform.
IFC Markets vs FXOpen Account Types Comparison
Both brokers offer different account types to suit different trading needs and preferences.
FXOpen offers four main account types: Micro (minimum deposit $1), STP (minimum deposit $10), ECN (minimum deposit $100), and Crypto (minimum deposit $10). IFC Markets offers three main account types: Beginner (minimum deposit $1), Standard (minimum deposit $1000), and NetTradeX (minimum deposit $1000). Both brokers also offer Islamic accounts for Muslim traders who follow Sharia law.
IFC Markets vs FXOpen Deposit Options Comparison
Both brokers offer various payment methods for depositing and withdrawing funds from their trading accounts. However, FXOpen has more options than IFC Markets.
FXOpen accepts wire transfer, credit/debit cards, FasaPay, crypto currencies (such as Bitcoin, Litecoin, Ethereum), Crypto Cash, Tether (USDT), WebMoney and AdvCash. IFC Markets accepts wire transfer, credit/debit cards, Neteller, Skrill, WebMoney, UnionPay, CashU, Perfect Money, crypto currencies (such as Bitcoin), bitwallet and AdvCash.
IFC Markets vs FXOpen Trading Platforms Comparison
Both brokers offer MetaTrader 4 and MetaTrader 5 as their main trading platforms. However, they also have their own proprietary platforms that offer some unique features and advantages.
FXOpen offers TickTrader and TradingView as its own platforms. TickTrader is a web-based platform that allows trading on forex, CFDs, and crypto currencies with advanced charting tools and indicators. TradingView is a social trading platform that allows traders to share their ideas and strategies with other traders and access various analytical tools and market data. IFC Markets offers NetTradeX as its own platform. NetTradeX is a downloadable platform that allows trading on forex, CFDs, and synthetic instruments with advanced order types and risk management tools.
IFC Markets vs FXOpen Analytical Tools Comparison
Both brokers provide various analytical tools to help their clients with their trading decisions and strategies. However, FXOpen has more options than IFC Markets.
FXOpen offers economic calendar, market news, technical analysis, trading signals, VPS service, and PAMM accounts. IFC Markets offers economic calendar, market news, technical analysis, trading signals, and portfolio quotation method.
IFC 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 and risk appetite. Both brokers have their pros and cons, and you should weigh them carefully before making a decision. You should also consider other factors, such as customer service, reputation, regulation, and security.
You can read some user reviews and testimonials or other websites to get some insight from other traders who have used these brokers. Ultimately, the best broker for you is the one that meets your needs and expectations.
