Written by ForexBrokers.com
In this head to head comparison of FP Markets vs FXOpen, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FP Markets and FXOpen are both well-known online brokers in the trading industry, with FP Markets founded in 2005 and FXOpen in 2003. Neither broker is publicly traded or operates as a bank. In terms of regulatory licenses, both brokers hold two Tier-1 licenses, classified as highly trusted by ForexBrokers.com standards. However, FP Markets has an additional Tier-2 license, which gives it a slight edge in regulatory trustworthiness compared to FXOpen's zero Tier-2 licenses.
Looking at trust scores, FP Markets boasts a score of 89 out of 99, placing it in the "trusted" category according to ForexBrokers.com. FXOpen, with a score of 76, is deemed of average risk. These ratings reflect the overall confidence in these brokers' capabilities and reliability for traders and investors seeking secure trading platforms.
| Feature |
FP Markets
|
FXOpen
|
|---|---|---|
| Year Founded | 2005 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing FP Markets and FXOpen focusing on commissions and fees, FP Markets clearly stands out as a strong contender. FP Markets offers notably competitive pricing with its MetaTrader and cTrader platforms, particularly attractive to traders using its commission-based ECN account. It earned the "Best in Class" recognition for Commissions and Fees in the 2024 Annual Awards. Clients benefit from the Direct Market Access (DMA) approach with their Iress platform, which includes a comprehensive depth of book visibility. However, the Iress ViewPoint account option comes at a steeper price and is tailored for more active traders with significant account balances. FP Markets’ Raw ECN account showcases competitive spreads around 0.1 pips (0.8 pips all inclusive with commission), in contrast to its Standard account, where spreads average 1.1 pips for EUR/USD as of October 2023. The cTrader platform also offers varied account options, featuring a flat rate of $6 per standard lot for forex trading in its Raw account.
In comparison, FXOpen offers a more standardized experience in terms of fees and spreads, although specific average spread data is not readily available. FXOpen holds a commendable rating of 4 out of 5 stars for its commissions and fees but ranks significantly lower at #45 out of 62 brokers in this category according to ForexBrokers.com. This suggests FXOpen provides a reliable yet perhaps standard fee structure without the aggressive pricing advantages evident with FP Markets.
Overall, FP Markets is rated 5 stars for its commissions and fees, securing the #6 spot out of 62 brokers, showcasing its strong value proposition, especially for traders who can leverage its advanced ECN accounts and DMA features. This places FP Markets as a more appealing option for traders seeking cost-efficient trading solutions, especially those with higher trading volumes or account balances.
| Feature |
FP Markets
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $100 AUD | $100 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FP Markets and FXOpen both provide forex trading as CFDs or spot contracts, catering to those interested in currency trading. However, when it comes to tradeable symbols, FP Markets offers a considerably larger variety, with 10,000 options compared to FXOpen's 87. In terms of forex pairs, FP Markets presents 71 pairs for trading, while FXOpen provides 25 pairs. Neither broker allows direct purchasing of exchange-traded securities on U.S. or international stock exchanges, meaning clients cannot directly buy shares like Apple or Vodafone through these platforms.
Both FP Markets and FXOpen support copy trading and offer the ability to trade cryptocurrency derivatives, though neither supports buying actual delivered cryptocurrency. Evaluating their offerings, FP Markets garners a 4.5-star rating for its range of investments, ranking 18th out of 62 brokers according to ForexBrokers.com. In contrast, FXOpen holds a 3-star rating, placing it at 61st in the same category. This comparison highlights FP Markets as the more diverse and wider-ranging option for potential investors.
| Feature |
FP Markets
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 87 |
| Forex Pairs (Total) | 71 | 25 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
FP Markets and FXOpen both cater to traders seeking robust online trading experiences with virtual demo accounts that allow newcomers and seasoned traders alike to explore markets without financial risk. FP Markets stands out with its in-house developed trading platform, offering a unique advantage to its users. Both brokers support MetaTrader 4 and 5, and they provide Windows desktop and web-based platforms for trading flexibility. FP Markets and FXOpen enable traders to engage in copy trading; however, FP Markets does not feature ZuluTrade, a service offered by FXOpen, adding another layer of opportunity for FXOpen clients.
In terms of charting tools, FP Markets offers 17 drawing tools, slightly surpassing FXOpen's 15, while both offer the capability to trade directly from stock charts, enhancing trading efficiency. Both brokers provide well-organized watch lists with seven columns. Despite receiving the same 4-star rating for trading platforms and tools, FP Markets is ranked higher by ForexBrokers.com, coming in at #23 out of 62 brokers, compared to FXOpen's rank of #53, which may influence your decision depending on your trading priorities.
| Feature |
FP Markets
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 17 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FP Markets and FXOpen provide mobile trading apps for iPhone and Android users, making it convenient for traders on the go. These apps offer essential features like stock or forex price alerts and the ability to create watchlists with real-time quotes. Notably, neither platform supports syncing watchlist symbols between the mobile app and the online account, which means changes made in one don't automatically update in the other. While both apps allow users to draw trendlines and view different time frames on charts, FP Markets stands out by auto-saving drawings on its app, a feature not available with FXOpen.
When it comes to charting capabilities, FP Markets leverages the default features of MetaTrader, while FXOpen provides 30 different technical studies, offering more options for those who rely on comprehensive analysis. Both platforms are well-rated at four stars for their mobile trading apps. However, FP Markets holds a superior ranking, placed at number 18 by ForexBrokers.com among 62 brokers, compared to FXOpen's rank of 54. This difference in ranking might be significant for traders looking for a broker with a well-recognized app experience.
| Feature |
FP Markets
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing FP Markets and FXOpen for their market research offerings, there are some clear distinctions. Both brokers provide daily market commentary and forex news from top-tier sources like Bloomberg and Reuters, ensuring traders can stay informed with high-quality insights. However, FP Markets goes a step further with additional tools such as Autochartist and Trading Central, which FXOpen does not provide. FP Markets also offers sentiment-based trading tools, giving traders a deeper understanding of market positions. Both brokers include an economic calendar to keep track of global news events, though FXOpen lacks some of the advanced analysis features offered by FP Markets.
In terms of research ratings, FP Markets scores higher with four stars, compared to FXOpen's three stars. This higher rating is reflected in their rankings, with FP Markets positioned at #25 out of 62 brokers for research by ForexBrokers.com, while FXOpen lags behind at #62. Overall, if comprehensive research tools are a priority for your trading needs, FP Markets appears to be the more equipped choice between the two.
| Feature |
FP Markets
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
FP Markets and FXOpen are two online brokers that cater to traders at all levels, but they differ significantly in the educational resources they offer to beginners. FP Markets provides a comprehensive range of learning materials, including more than ten educational pieces such as articles, videos, and archived webinars focused on forex and CFDs. In contrast, FXOpen does not meet this threshold. Additionally, FP Markets hosts at least one online educational webinar per month and maintains a searchable archive of these sessions for continuous learning. FXOpen, however, lacks both regular webinars and an archive of recorded sessions.
For beginners specifically, FP Markets offers more than ten educational videos tailored to newcomers in trading, whereas FXOpen does not offer this same level of support. Both brokers provide an investor dictionary with definitions for over 50 investing terms, helping clarify financial jargon. When it comes to ratings, FP Markets scores four out of five stars in education, ranking 23rd out of 62 brokers, while FXOpen receives three stars and ranks 58th. This comparison highlights FP Markets as a more beginner-friendly option due to its extensive educational offerings and better overall ranking.
| Feature |
FP Markets
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that FP Markets is better than FXOpen. FP Markets finished with an overall rank of #19, while FXOpen finished with an overall rank of #54.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
| Feature |
FP Markets
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FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 76 |
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Both FP Markets and FXOpen do not offer the ability to buy actual delivered cryptocurrency, but they do provide options for purchasing cryptocurrency derivatives.
FP Markets and FXOpen both support Visa, Mastercard, Skrill, and bank wire transactions for deposits and withdrawals, but only FP Markets offers PayPal, whereas neither broker offers ACH or SEPA transfer options.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | FP Markets | FXOpen | |
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| Trust Score | 89 | 76 | |
| Winner | check_circle | ||
| Review | FP Markets Review |
| Broker Screenshots | FP Markets | FXOpen | |
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| Regulation | FP Markets | FXOpen | |
|---|---|---|---|
| Trust Score | 89 | 76 | |
| Year Founded | 2005 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | FXOpen | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FP Markets | FXOpen | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FP Markets | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 87 | |
| Forex Pairs (Total) | 71 | 25 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | FP Markets | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FP Markets | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $100 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | FP Markets | FXOpen | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | FP Markets | FXOpen | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 17 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FP Markets | FXOpen | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FP Markets | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FP Markets | FXOpen | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | FP Markets Review |
| Overall | FP Markets | FXOpen | |
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| Trust Score | 89 | 76 | |
| Winner | check_circle | ||
| Review | FP Markets Review |
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