Compare SimpleFX vs FXOpen
What is SimpleFX? What is FXOpen?
SimpleFX is a forex broker that was established in 2014 and offers trading with various assets, such as forex, CFDs, crypto, oil, and energies. SimpleFX has no regulation and operates with a variable spread model.
FXOpen is a forex broker that was founded in 2003 and offers trading with forex, crypto, CFDs, oil, stocks, indexes, and energies. FXOpen is regulated by FCA, ASIC, CySEC, and the Financial Commission.
SimpleFX vs FXOpen Regulation Comparison
SimpleFX has no regulation from any reputable authority, which means that it does not have to comply with any rules or standards regarding customer protection, fund security, or fair trading practices.
FXOpen is regulated by four different authorities: FCA in the UK, ASIC in Australia, CySEC in Cyprus, and the Financial Commission in the UK. These regulators ensure that FXOpen follows strict guidelines and regulations to protect its clients and their funds.
SimpleFX vs FXOpen Trading Assets Comparison
SimpleFX offers trading with 50+ FX spot CFDs, 25+ cryptocurrency CFDs, shares CFDs, index CFDs, spot metals CFDs, and commodity CFDs.
FXOpen offers trading with 50 currency pairs, 25+ cryptocurrency pairs, shares CFDs, index CFDs, spot metals CFDs, and commodity CFDs.
SimpleFX vs FXOpen Trading Fees Comparison
SimpleFX charges commissions from $1.5 per lot on its ECN account, which has a variable spread starting from 0 pips. SimpleFX does not charge any commissions on its STP account, which has a variable spread starting from 0.1 pips.
FXOpen charges commissions from $15 per million on its ECN account, which has a variable spread starting from 0 pips. FXOpen does not charge any commissions on its STP account, which has a variable spread starting from 1.5 pips.
SimpleFX vs FXOpen Account Types Comparison
SimpleFX offers two types of accounts: ECN and STP. Both accounts have a minimum deposit of $1 and a maximum leverage of 1:500. Both accounts also allow hedging, scalping, expert advisors, and Islamic accounts.
FXOpen offers four types of accounts: ECN, STP, Crypto, and Micro. The ECN and STP accounts have a minimum deposit of $100 and a maximum leverage of 1:500. The Crypto account has a minimum deposit of $10 and a maximum leverage of 1:3. The Micro account has a minimum deposit of $1 and a maximum leverage of 1:500. All accounts allow hedging and expert advisors. Only the ECN and STP accounts allow scalping and Islamic accounts.
SimpleFX vs FXOpen Deposit Options Comparison
SimpleFX offers various deposit and withdrawal options, such as Skrill, Neteller, FasaPay, Crypto (including Litecoin, Dash, Ethereum, Monero, Crypto Cash, Zcash, Ethereum Classic, Tether (USDT), Dogecoin, Tron (TRX), USD Coin (USDC), Dai (DAI), EOS.IO (EOS), Binance Coin (BNB) and Ripple (XRP)).
FXOpen offers several deposit and withdrawal options, such as wire transfer, credit/debit cards (Visa/Mastercard), FasaPay (IDR/USD), Crypto (including Litecoin (LTC), Ethereum (ETH), Crypto Cash (BCH), Tether (USDT)), WebMoney (WMZ/WME/WMG/WMX/WMB/WMU/WMP/WMV/WMY), AdvCash (USD/EUR/RUB/GBP/UAH/KZT/BRL) .
SimpleFX vs FXOpen Trading Platforms Comparison
SimpleFX supports trading with MetaTrader 4 (MT4), Mobile Trading Platform (Android/iOS), WebTrader (web-based platform). These platforms offer features such as one-click trading, trailing stop, pending orders.
FXOpen supports trading with MetaTrader 4 (MT4), MetaTrader 5 (MT5), TickTrader (web-based platform), TradingView (web-based platform). These platforms offer features such as one-click trading, trailing stop, pending orders.
SimpleFX vs FXOpen Analytical Tools Comparison
SimpleFX provides analytical tools such as news feed (SimpleFX Blog), trading ideas (SimpleFX Trading Ideas), market analysis (SimpleFX Analysis), and economic calendar (SimpleFX Calendar).
FXOpen provides analytical tools such as news feed (FXOpen News), market analysis (FXOpen Analytics), trading signals (FXOpen Signals), and economic calendar (FXOpen Calendar).
SimpleFX vs FXOpen. Which forex broker is better? Which forex broker should you choose?
here is no definitive answer to which forex broker is better or which one you should choose, as it depends on your personal preferences, trading style, and risk appetite. However, here are some of the factors you may want to consider when choosing a forex broker:
- Regulation: This is an important factor that affects the credibility and reliability of a forex broker. A regulated broker has to follow certain rules and standards that protect its clients and their funds. A non-regulated broker may not have to comply with any regulations and may pose a higher risk of fraud or misconduct. FXOpen is regulated by four different authorities, while SimpleFX has no regulation at all. If you value security and trustworthiness, you may prefer FXOpen over SimpleFX.
- Trading Assets: This is another factor that affects the diversity and flexibility of your trading options. A broker that offers more trading assets gives you more opportunities to trade with different markets and instruments. Both SimpleFX and FXOpen offer a similar range of trading assets, such as forex, crypto, CFDs, oil, stocks, indexes, and energies. However, SimpleFX has more cryptocurrency CFDs than FXOpen. If you are interested in trading with crypto, you may prefer SimpleFX over FXOpen.
- Trading Fees: This is another factor that affects the profitability and efficiency of your trading performance. A broker that charges lower trading fees allows you to keep more of your profits and reduce your costs. Both SimpleFX and FXOpen charge commissions on their ECN accounts, but not on their STP accounts. However, SimpleFX has lower commissions than FXOpen on its ECN account, while FXOpen has lower spreads than SimpleFX on its STP account. If you are looking for lower commissions, you may prefer SimpleFX over FXOpen. If you are looking for lower spreads, you may prefer FXOpen over SimpleFX.
- Account Types: This is another factor that affects the suitability and convenience of your trading experience. A broker that offers more account types gives you more choices to find the one that matches your needs and preferences. Both SimpleFX and FXOpen offer ECN and STP accounts, but FXOpen also offers Crypto and Micro accounts. The Crypto account allows you to trade with cryptocurrency pairs with a low minimum deposit and leverage. The Micro account allows you to trade with micro lots with a low minimum deposit and leverage. If you are looking for more account types, you may prefer FXOpen over SimpleFX.
- Deposit and Withdrawal Options: This is another factor that affects the accessibility and convenience of your trading funds. A broker that offers more deposit and withdrawal options gives you more ways to fund your account and withdraw your profits. Both SimpleFX and FXOpen offer various deposit and withdrawal options, such as wire transfer, credit/debit cards, FasaPay, Crypto. However, SimpleFX has more crypto options than FXOpen, while FXOpen has more e-wallet options than SimpleFX. If you are looking for more crypto options, you may prefer SimpleFX over FXOpen. If you are looking for more e-wallet options, you may prefer FXOpen over SimpleFX.
- Trading Platforms: This is another factor that affects the functionality and usability of your trading tools. A broker that offers more trading platforms gives you more features and options to execute your trades and manage your positions. Both SimpleFX and FXOpen support trading with MetaTrader 4 (MT4), but FXOpen also supports trading with MetaTrader 5 (MT5), TickTrader, TradingView. These platforms offer additional features such as multi-asset trading (MT5), web-based platform (TickTrader), advanced charting (TradingView). If you are looking for more trading platforms, you may prefer FXOpen over SimpleFX.
- Analytical Tools: This is another factor that affects the quality and accuracy of your trading decisions. A broker that offers more analytical tools gives you more information and insights to analyze the market and plan your strategies. Both SimpleFX and FXOpen provide analytical tools such as news feed, market analysis, economic calendar . However, FXOpen also provides trading signals, which can help you find profitable trading opportunities based on technical analysis. If you are looking for more analytical tools, you may prefer FXOpen over SimpleFX.
These are some of the main factors that can help you compare SimpleFX and FXOpen. Of course, there may be other factors that are important to you, such as customer service, education resources, bonuses, promotions, etc. You can check the websites of SimpleFX and FXOpen for more details and information. Ultimately, the best forex broker for you is the one that meets your expectations and requirements
