Compare NordFX vs FXOpen
What is NordFX? What is FXOpen?
NordFX is a forex broker that was established in 2008 and is regulated by the Vanuatu Financial Services Commission (VFSC). NordFX offers trading on various assets, such as forex, CFDs, crypto, metals, and indices, with variable spreads and leverage up to 1:1000. NordFX also provides a PAMM account service for investors and money managers. FXOpen is a forex broker that was established 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 Cyprus Securities and Exchange Commission (CySEC) in Cyprus.
FXOpen offers trading on various assets, such as forex, CFDs, crypto, metals, energies, indices, and commodities, with variable spreads and leverage up to 1:500. FXOpen also provides a PAMM account service, as well as an ECN account option for traders who want direct market access.
NordFX vs FXOpen Regulation Comparison
Both NordFX and FXOpen are regulated brokers, but they have different levels of regulatory oversight.
NordFX is only regulated by the VFSC, which is a relatively low-tier regulator that does not offer much protection or compensation for traders in case of broker insolvency or misconduct.
FXOpen, on the other hand, is regulated by three reputable regulators: the FCA, the ASIC, and the CySEC. These regulators have strict rules and standards for brokers to follow, such as maintaining adequate capital, segregating client funds, providing negative balance protection, participating in compensation schemes, and submitting regular audits and reports. Therefore, FXOpen has a higher level of regulatory credibility and safety than NordFX.
NordFX vs FXOpen Trading Assets Comparison
Both NordFX and FXOpen offer a wide range of trading assets for traders to choose from. However, FXOpen has a slight edge over NordFX in terms of the number and diversity of assets available. FXOpen offers more than 70 currency pairs, while NordFX offers only 33.
FXOpen also offers more CFDs on commodities, indices, and futures than NordFX. Moreover, FXOpen offers more crypto assets than NordFX, with 43 pairs versus 14 pairs. Therefore, FXOpen has a more comprehensive and varied asset portfolio than NordFX.
NordFX vs FXOpen Trading Fees Comparison
Both NordFX and FXOpen charge variable spreads on their trading accounts, which depend on the market conditions and the type of account chosen. However, FXOpen also charges commissions on some of its accounts, such as the ECN and STP accounts. The commissions vary from $1.5 to $3.5 per lot per side depending on the account type and the trading volume. NordFX does not charge commissions on any of its accounts. Therefore, NordFX has lower trading fees than FXOpen in general.
NordFX vs FXOpen Account Types Comparison
Both NordFX and FXOpen offer different types of accounts for different types of traders. However, FXOpen has more account options than NordFX.
NordFX offers three account types: Fix (fixed spreads), Pro (variable spreads), and Zero (variable spreads and commissions). The minimum deposit for these accounts ranges from $10 to $500.
FXOpen offers four account types: Micro (fixed spreads), STP (variable spreads and commissions), ECN (variable spreads and commissions), and Crypto (variable spreads and commissions). The minimum deposit for these accounts ranges from $1 to $1000. Therefore, FXOpen has more account flexibility than NordFX.
NordFX vs FXOpen Deposit Options Comparison
Both NordFX and FXOpen offer various deposit and withdrawal options for traders to fund and withdraw their money from their accounts. However, FXOpen has more payment methods than NordFX. NordFX accepts payments via WebMoney, Skrill, Wire transfer, Credit / debit cards, Neteller, Perfect Money and Dragonpay.
FXOpen accepts payments via Wire transfer, Credit/debit cards, FasaPay, Crypto, Litecoin, Ethereum, Crypto Cash, Tether (USDT), WebMoney and AdvCash. Therefore, FXOpen has more payment convenience than NordFX.
NordFX vs FXOpen Trading Platforms Comparison
Both NordFX and FXOpen offer the popular MetaTrader 4 (MT4) platform for trading. However, FXOpen also offers other platforms, such as MetaTrader 5 (MT5), TickTrader, and TradingView. These platforms have more features and tools than MT4, such as more timeframes, indicators, order types, and charting options. Therefore, FXOpen has more platform diversity than NordFX.
NordFX vs FXOpen Analytical Tools Comparison
Both NordFX and FXOpen provide some analytical tools for traders to enhance their trading performance. However, FXOpen has more tools than NordFX. NordFX provides a free VPS service, an economic calendar, and a market analysis section on its website.
FXOpen provides a free VPS service, an economic calendar, a market analysis section, a news feed, a trading calculator, a forex education section, and a social trading service. Therefore, FXOpen has more analytical support than NordFX.
NordFX 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.
You should compare the features and benefits of each broker and decide which broker suits you best. However, you should also check the official websites of each broker and read some of the user reviews to understand more. In the end, the choice is yours.
