Written by ForexBrokers.com
In this head to head comparison of FXCM 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.
FXCM, established in 1999, and FXOpen, founded in 2003, offer online trading services but differ significantly in terms of trust and regulation. FXCM is publicly traded, which adds a layer of transparency for investors. Meanwhile, FXOpen is not publicly listed. Neither company functions as a bank. In terms of regulatory oversight, FXCM holds 4 Tier-1 licenses, making it highly trusted, and 2 Tier-2 licenses, which are also considered reliable. FXOpen, on the other hand, holds 2 Tier-1 licenses and no Tier-2 licenses.
When evaluating the ForexBrokers.com Trust Score, a key measure of broker reliability, FXCM scores an impressive 95 out of 99, categorizing it as highly trusted. FXOpen scores a 76, marking it as posing an average risk. This means that FXCM offers a more secure option for traders who prioritize trust and regulatory compliance in their trading platform choice.
| Feature |
FXCM
|
FXOpen
|
|---|---|---|
| Year Founded | 1999 | 2003 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
When examining FXCM and FXOpen in terms of commissions and fees, FXCM offers a slightly higher pricing structure compared to the industry average for forex trading. For example, the average spreads on the EUR/USD currency pair for its EU, U.K., and Australia clients were 0.78 in May 2024, while spreads for its St. Vincent and the Grenadines entity averaged 1.38, with additional spreads for commission-based accounts averaging 0.28 pips excluding commissions. FXCM’s Active Trader Rebate Program allows traders to reduce costs based on volume, although its effective spreads, considering commission costs, still result in average pricing. In comparison to FXCM’s structured tiers and rebates, FXOpen does not provide specific average spread data.
FXCM’s Active Trader Rebate Program is a tiered system that offers rebates for those trading at least $10 million monthly, with rebates varying from $5 to $25 per million traded, depending on the tier. This program is beneficial for high-volume traders, though other brokers like Tickmill and FP Markets may present more competitive offers for these traders. It's important to note that the reduced effective spreads from FXCM, after commissions are factored in, align around 0.74 pips for commission-based pricing, as evidenced by May 2024 data, signaling potential cost savings achievable through forex trading volume.
In terms of ratings, both FXCM and FXOpen receive a commendable 4-star rating out of five for commissions and fees. However, FXCM ranks higher at #24 among 62 brokers, whereas FXOpen is positioned at #45 according to ForexBrokers.com. Although they both hold the same star rating, FXCM's more detailed pricing structure and active trader programs might provide additional value to traders who can leverage its tier-based discounts effectively.
| Feature |
FXCM
|
FXOpen
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $100 |
| Average Spread EUR/USD - Standard | 0.78 | N/A |
| All-in Cost EUR/USD - Active | 0.78 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | 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.
When comparing the range of investments offered by FXCM and FXOpen, FXCM stands out with a larger selection. FXCM provides access to 440 tradable symbols, significantly surpassing FXOpen's 87. For forex trading, FXCM offers 43 currency pairs, while FXOpen provides 25. Both brokers support trading in forex and cryptocurrency derivatives like CFDs, but neither offers access to actual cryptocurrencies or exchange-traded securities on U.S. or international exchanges. Both provide the option for copy trading, appealing to those who prefer mirroring the strategies of experienced traders.
In terms of ratings, FXCM receives 3.5 stars for its range of investments compared to FXOpen's 3-star rating. According to ForexBrokers.com, FXCM is ranked 47th out of 62 brokers in the Range of Investments category, whereas FXOpen is placed at 61st. This highlights FXCM as the better option for a more diverse selection in tradable instruments, though both brokers are similar in other investment areas.
| Feature |
FXCM
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 87 |
| Forex Pairs (Total) | 43 | 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.
FXCM and FXOpen both provide traders with opportunities to test drive their platforms through free virtual demo accounts, enhancing the learning curve without financial risk. FXCM stands out with its proprietary trading platform, giving users a unique interface developed in-house, while FXOpen does not offer this feature. Both brokers support the widely popular MetaTrader 4 (MT4) platform and provide Windows-based desktop and web-based trading platforms for flexible access. However, FXOpen has an edge with the inclusion of MetaTrader 5 (MT5), appealing to traders looking for more advanced features and functionalities not available with FXCM. Both platforms accommodate copy trading and integrate with ZuluTrade, though neither offers DupliTrade.
In terms of charting tools, FXOpen provides a wider range with 15 drawing tools compared to FXCM's 10, though both platforms allow trading directly from stock charts. FXCM, however, offers traders more customization for watch lists, with 13 columns available compared to FXOpen's 7 fields. This could be essential for users who prefer detailed real-time data monitoring. Ultimately, FXCM is rated higher by ForexBrokers.com with 5 stars and ranks 6th among 62 brokers in the Trading Platforms and Tools category, whereas FXOpen is rated 4 stars and ranked 53rd, indicating FXCM’s superior offerings in trading technologies.
| Feature |
FXCM
|
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) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | Yes |
| Charting - Indicators / Studies (Total) | 115 | 30 |
| Charting - Drawing Tools (Total) | 10 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 13 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of FXCM and FXOpen, both platforms offer apps for iPhone and Android users, catering to the needs of traders on the go. Users of both apps can receive stock or forex price alerts and have the option to create watchlists with real-time quotes. However, FXCM excels with the ability to sync watchlists across devices, ensuring seamless transitions between mobile and online trading, a feature absent in FXOpen's offering.
In terms of charting capabilities, FXCM provides a more extensive suite with 59 technical studies compared to FXOpen's 30. Both apps allow users to draw trendlines and view various time frames, but FXCM stands out with the convenience of auto-saving chart drawings. With higher user ratings, FXCM boasts a 4.5-star rating, compared to FXOpen's 4-star rating. Furthermore, FXCM ranks 16th out of 62 brokers in the Mobile Trading Apps category on ForexBrokers.com, significantly ahead of FXOpen, which ranks 54th.
| Feature |
FXCM
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 59 | 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.
FXCM and FXOpen both provide daily market commentary, coupled with forex news from renowned sources such as Bloomberg and Reuters. This ensures traders using either platform stay informed with timely updates. However, when it comes to advanced technical analysis tools, FXCM has an edge. While neither platform currently integrates Autochartist, FXCM enhances user experience with tools from Trading Central. These tools, combined with a unique sentiment-based trading tool that FXCM offers, aid traders in making better-informed decisions by revealing the ratio of long to short positions across various currency pairs. Additionally, FXCM users benefit from market research provided by TipRanks, a feature absent in FXOpen.
Both platforms equip traders with an economic calendar featuring key global news events, serving as a valuable resource for strategy planning. Despite some similarities, FXCM stands out in the research category, boasting a 4.5-star rating and an impressive rank of 11 out of 62 brokers as per ForexBrokers.com. FXOpen, while still functional, falls behind with a 3-star rating and ranks last in the same category. This indicates FXCM’s superior focus on delivering comprehensive research tools that meet the evolving needs of traders.
| Feature |
FXCM
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginner traders, FXCM stands out as a more resource-rich option compared to FXOpen. FXCM offers a wide array of educational materials, including over 10 pieces of content focused on forex and CFDs, making it a treasure trove for those just starting. Their commitment to education extends to regular online webinars, with at least one session hosted monthly, and a searchable archive of recorded webinars, providing newcomers with ample opportunities to learn at their own pace. In addition, FXCM caters to both beginner and advanced traders through a comprehensive library of at least 10 videos each, dedicated to exploring trading topics from basic concepts to more sophisticated strategies. Their investor dictionary further aids learners with definitions of over 50 investing terms.
On the other hand, FXOpen doesn't offer the same level of educational content. While they do provide an investor dictionary similar to FXCM, the breadth of beginner-focused videos or a regular series of webinars is lacking. As a result, FXOpen earns a lower education rating of 3 stars compared to
| Feature |
FXCM
|
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 FXCM is better than FXOpen. FXCM finished with an overall rank of #15, while FXOpen finished with an overall rank of #54.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
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FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 76 |
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Both FXCM and FXOpen do not provide the ability to purchase actual (delivered) cryptocurrency, instead, they offer the opportunity to trade cryptocurrency derivatives.
FXCM provides a broader range of deposit and withdrawal options than FXOpen, offering ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires, while FXOpen supports only Skrill, Visa, Mastercard, and bank wires.
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 | FXCM | FXOpen | |
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| Trust Score | 95 | 76 | |
| Winner | check_circle | ||
| Review | FXCM Review |
| Broker Screenshots | FXCM | FXOpen | |
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| Regulation | FXCM | FXOpen | |
|---|---|---|---|
| Trust Score | 95 | 76 | |
| Year Founded | 1999 | 2003 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | FXCM | FXOpen | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | 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) | Yes | 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) | FXCM | FXOpen | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | Yes | 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 | FXCM | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 87 | |
| Forex Pairs (Total) | 43 | 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 | FXCM | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | N/A | |
| All-in Cost EUR/USD - Active | 0.78 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXCM | FXOpen | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $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 | Yes | No |
| Trading Platforms | FXCM | 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) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | Yes |
| Trading Tools | FXCM | FXOpen | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 13 | 7 | |
| Charting - Indicators / Studies (Total) | 115 | 30 | |
| Charting - Drawing Tools (Total) | 10 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | FXOpen | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 59 | 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 | FXCM | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | 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 | FXCM | 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 | FXCM Review |
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| Trust Score | 95 | 76 | |
| Winner | check_circle | ||
| Review | FXCM Review |
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