Written by ForexBrokers.com
In this head to head comparison of iFOREX vs FXOpen, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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When comparing online brokers iFOREX and FXOpen, it's essential to consider their years of operation, licensing, and trust scores. iFOREX, founded in 1996, holds one Tier-1 license and has a Trust Score of 75, indicating an average risk according to ForexBrokers.com. On the other hand, FXOpen began in 2003 and holds two Tier-1 licenses, with a slightly higher Trust Score of 76. Neither iFOREX nor FXOpen is publicly traded or operates as a bank.
While both brokers are relatively similar in terms of trustworthiness, the difference in the number of Tier-1 licenses suggests that FXOpen may provide slightly more regulatory security. However, both brokers fall under the average risk category, indicating a moderate level of reliability in the realm of online trading platforms. Ultimately, choosing between iFOREX and FXOpen may come down to individual trading needs and preferences.
| Feature |
iFOREX
|
FXOpen
|
|---|---|---|
| Year Founded | 1996 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing online brokers iFOREX and FXOpen, it’s important to consider their approach to commissions and fees, even though average spread data is not available for either. iFOREX has a reputation that might not appeal to everyone, with its commissions and fees earning a 3-star rating. In the broader landscape of online brokers, iFOREX positions near the bottom, ranked 60 out of 62 by ForexBrokers.com for this specific category.
Conversely, FXOpen presents itself as a more favorable choice when it comes to commissions and fees, boasting a 4-star rating. It stands out more positively in comparison, positioned at rank 45 out of 62 brokers according to ForexBrokers.com. This indicates that FXOpen likely offers more competitively priced trading conditions, which could make it a more appealing option for those prioritizing cost efficiency.
| Feature |
iFOREX
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $100 | $100 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | 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.
When comparing the range of investments offered by iFOREX and FXOpen, iFOREX emerges as a platform with a more extensive selection for traders. iFOREX provides access to 750 tradeable symbols, significantly surpassing FXOpen's 87 options. Within the forex market, iFOREX offers 88 tradeable pairs compared to FXOpen's 25, presenting more opportunities for those looking to diversify their portfolios. Both platforms allow trading forex as CFDs or spot contracts and offer cryptocurrency derivatives, though they don't facilitate the direct purchase of actual cryptocurrencies. Neither broker offers exchange-traded securities on U.S. or international exchanges.
FXOpen, however, does offer copy trading, which can be an attractive feature for those who prefer to follow and replicate the trades of experienced investors. Despite this offering, FXOpen's range of investments received a rating of 3 stars, with a rank of 61 out of 62 brokers assessed by ForexBrokers.com in this category. In contrast, iFOREX not only achieved a higher rating of 3.5 stars but also secured a better ranking position at 41. This comparison highlights iFOREX as more favorable for traders seeking a wider array of investment choices. However, individuals interested in copy trading may gravitate towards FXOpen despite its more limited selection.
| Feature |
iFOREX
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 750 | 87 |
| Forex Pairs (Total) | 88 | 25 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | No | 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.
When comparing the trading platforms and tools of iFOREX and FXOpen, several key differences and similarities emerge. iFOREX offers a proprietary platform that is accessible via the web, but lacks a Windows-based desktop option and popular platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5). It doesn’t support copy trading or simulated trading via a demo account. Despite these limitations, iFOREX provides the capability to trade directly from stock charts and offers 25 drawing tools for charting, providing a flexible experience for users. With 9 fields available for watch lists, it provides adequate customization for monitoring assets.
FXOpen, on the other hand, provides its traders with a more diverse platform selection by offering both MetaTrader 4 and MetaTrader 5, alongside its Windows-based desktop, and web platforms. It supports both demo accounts for practice trading and copy trading through ZuluTrade, which can be attractive to novice traders and those interested in mirroring successful strategies. FXOpen offers 15 drawing tools for charting and 7 fields for watch lists, with trading directly from charts also being available. Despite these differences, both brokers are similarly rated at 4 stars for their platforms and tools, with FXOpen ranking slightly higher than iFOREX in industry rankings.
| Feature |
iFOREX
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | No | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 57 | 30 |
| Charting - Drawing Tools (Total) | 25 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 9 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both iFOREX and FXOpen offer trading apps that are compatible with iPhone and Android devices. However, when it comes to additional features, FXOpen takes the lead. The FXOpen app provides stock or forex price alerts, something iFOREX lacks. While neither platform allows for syncing watchlists between the app and online accounts, FXOpen's mobile app includes 30 technical studies for charting. On the other hand, iFOREX does not provide any technical studies in its app.
FXOpen further enhances its app experience by offering traders the ability to draw trendlines and view various time frames on charts, capabilities that are not available in the iFOREX app. Importantly, FXOpen supports real-time quotes in its watchlist feature, another benefit that iFOREX does not offer. Despite these differences, both trading apps receive an equal rating of 4 out of 5 stars, with FXOpen ranked slightly higher at #54 compared to iFOREX's #55 in the Mobile Trading Apps category by ForexBrokers.com.
| Feature |
iFOREX
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | No | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | N/A | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | No | Yes |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | No | Yes |
Dive deeper: Best Forex Trading Apps.
Both iFOREX and FXOpen provide daily market commentary, giving traders updated insights to navigate the forex market. However, FXOpen sets itself apart by offering forex news from renowned sources such as Bloomberg and Reuters, a feature that is not available with iFOREX. When it comes to technical analysis tools from Autochartist, neither broker provides these resources to its users. Yet, iFOREX compensates by integrating Trading Central's Technical Analytics, a valued research tool that FXOpen lacks.
On the flip side, iFOREX offers a sentiment-based trading tool, helping traders gauge market sentiment through long and short position ratios, an advantage over FXOpen. Both brokers offer economic calendars that outline significant global news events. In terms of research ratings, iFOREX receives a slightly better score of 3.5 stars compared to FXOpen's 3-star rating. Additionally, iFOREX ranks higher at 48th place among 62 brokers reviewed by ForexBrokers.com, while FXOpen holds a lower position at 62nd.
| Feature |
iFOREX
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | 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.
When evaluating the educational resources available for beginners, both iFOREX and FXOpen present unique offerings but with some limitations. iFOREX distinguishes itself by providing more beginner-friendly educational videos, offering at least ten that cover various trading topics, making it an appealing option for those just starting. In contrast, FXOpen does not match this offering in terms of beginner videos, but excels by providing an investor dictionary with more than 50 definitions, catering to those who prefer learning through terminology.
Neither iFOREX nor FXOpen provides a significant array of educational materials such as articles, videos, or webinars dedicated to forex or CFDs. Monthly webinars, whether live or archived, are also absent from both platforms, which may leave learners seeking more interactive guidance somewhat underwhelmed. According to ratings, iFOREX edges out slightly with a 3.5-star rating, compared to FXOpen's 3 stars. In terms of overall educational ranking by ForexBrokers.com, iFOREX is positioned at #53, whereas FXOpen is at #58 out of 62 brokers, indicating a marginal preference towards iFOREX for educational resources among beginners.
| Feature |
iFOREX
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | No | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | No | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that iFOREX is better than FXOpen. iFOREX finished with an overall rank of #52, while FXOpen finished with an overall rank of #54.
iFOREX is operated by a long-standing company, previously known as Vestle, with regulatory status in a growing number of jurisdictions, offering forex and CFDs through its proprietary platform. The biggest drawback is the lack of markets you can trade with fewer than 200, compared to the best multi asset forex and CFD brokers.
| Feature |
iFOREX
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FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 75 | 76 |
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Both iFOREX and FXOpen do not offer the ability to buy actual delivered cryptocurrency, but they do allow trading in cryptocurrency derivatives.
When comparing online brokers iFOREX and FXOpen, it's essential to note that both lack ACH or SEPA transfer options for funding, but iFOREX supports PayPal whereas FXOpen does not, and both brokers facilitate transactions via 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 | iFOREX | FXOpen | |
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| Trust Score | 75 | 76 | |
| Winner | check_circle | ||
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| Broker Screenshots | iFOREX | FXOpen | |
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| Regulation | iFOREX | FXOpen | |
|---|---|---|---|
| Trust Score | 75 | 76 | |
| Year Founded | 1996 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 1 | 2 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | iFOREX | FXOpen | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | 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) | 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) | iFOREX | FXOpen | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | iFOREX | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 750 | 87 | |
| Forex Pairs (Total) | 88 | 25 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | No | 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 | iFOREX | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | iFOREX | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $100 | $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 | iFOREX | FXOpen | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | iFOREX | FXOpen | |
|---|---|---|---|
| Virtual Trading (Demo) | No | Yes | |
| Alerts - Basic Fields | No | Yes | |
| Watchlists - Total Fields | 9 | 7 | |
| Charting - Indicators / Studies (Total) | 57 | 30 | |
| Charting - Drawing Tools (Total) | 25 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | No | Yes |
| Mobile Trading | iFOREX | FXOpen | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | No | Yes | |
| Mobile Watchlist | No | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | N/A | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | No | Yes | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | No | Yes |
| Research | iFOREX | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | iFOREX | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | No | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | No | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | iFOREX | 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 | |
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| Overall | iFOREX | FXOpen | |
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| Trust Score | 75 | 76 | |
| Winner | check_circle | ||
| Review |
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