Written by ForexBrokers.com
In this head to head comparison of IronFX 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.
IronFX and FXOpen are both private online trading brokers that are not listed on stock exchanges and do not operate as banks. Despite being relatively newer to the industry, having been founded in 2010, IronFX holds a slightly higher standing with a Trust Score of 83 out of 99 on ForexBrokers.com, indicating a trusted status. The company boasts three Tier-1 licenses, which is a mark of high trust in the online trading space.
Established earlier in 2003, FXOpen carries a Trust Score of 76 out of 99, noting an average risk level. The broker holds two Tier-1 licenses, underscoring its commitment to maintaining a secure and trustworthy trading environment. Neither broker has Tier-2 licenses, and this information might help investors make informed decisions based on their trust preferences.
| Feature |
IronFX
|
FXOpen
|
|---|---|---|
| Year Founded | 2010 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing the commissions and fees of IronFX and FXOpen, both brokers are rated four stars out of five. However, they differ in how they structure their fees. IronFX lists a typical spread of 1.8 pips for its Standard variable spread account, which is higher than the industry average and lacks specific date details. Their zero fixed-spread account starts at zero but includes an $18 per lot commission, with spreads widening to 3 pips overnight. This suggests that IronFX offers varied accounts with different pricing structures but may not be the most cost-effective option for every trader.
FXOpen, on the other hand, does not provide average spread data, which might be a consideration for traders who rely on this information for decision-making. Despite this, both IronFX and FXOpen achieve the same star rating in terms of commissions and fees, making them comparable in this regard. Each broker is positioned slightly differently in the market based on how they package their fee structures, with IronFX often presenting higher apparent costs for certain account types.
In terms of their rankings in the Commissions and Fees category by ForexBrokers.com out of 62 brokers, IronFX is ranked at number 47, while FXOpen slightly edges out at number 45. These rankings reflect their relative competitiveness in the market concerning fees. Therefore, traders considering these brokers might want to explore each broker's additional features and services to make a fully informed decision.
| Feature |
IronFX
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $50 | $100 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | 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 IronFX and FXOpen, both online brokers provide opportunities for forex trading through CFDs or spot contracts. IronFX stands out with a significantly larger pool of tradeable symbols, offering 340 compared to FXOpen's 87. In the realm of forex pairs, IronFX also has a more extensive selection with 83 pairs available against FXOpen's 25. Both brokers do not provide options for investing in exchange-traded securities on U.S. or international exchanges, meaning investors cannot directly purchase shares like Apple or Vodafone.
In addition, both IronFX and FXOpen offer copy trading, allowing users to replicate trades from experienced investors. For cryptocurrency enthusiasts, both brokers provide access to cryptocurrency derivatives but do not support the purchase of actual cryptocurrencies. Overall, IronFX scores slightly better with a rating of 3.5 stars for its range of investments, positioned at #51 out of 62 brokers by ForexBrokers.com. In contrast, FXOpen holds a 3-star rating, ranking at #61 in the same category.
| Feature |
IronFX
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 340 | 87 |
| Forex Pairs (Total) | 83 | 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.
When comparing the trading platforms and tools of IronFX and FXOpen, both brokers offer several similar features for their clients. They both provide a simulated or paper trading option, allowing users to practice trading without risking real money. Neither brokerage offers a proprietary platform, but they both provide Windows-based desktop download and web-based trading platforms. Additionally, copy trading is supported by both brokers. While IronFX only offers the MetaTrader 4 (MT4) platform, FXOpen has an edge as it includes both MT4 and the newer MetaTrader 5 (MT5), along with ZuluTrade, which IronFX does not provide.
In terms of charting tools, both IronFX and FXOpen offer 15 drawing tools and allow users to trade directly from stock charts, enhancing the user experience. Watch lists are customizable with seven columns for both services. However, when it comes to overall platform quality, FXOpen slightly outshines IronFX with a rating of 4 stars compared to IronFX's 3.5 stars. In rankings among 62 brokers evaluated on their trading platforms and tools by ForexBrokers.com, FXOpen is placed at #53, while IronFX is ranked at #60, reflecting FXOpen's slight advantage in this category.
| Feature |
IronFX
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | 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 | No | Yes |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both IronFX and FXOpen offer mobile trading apps for iPhone and Android users, ensuring access to trading on the go. These apps provide essential features such as stock and forex price alerts and the ability to draw trend lines on charts, along with multiple time frame views. They each include 30 technical studies for in-depth chart analysis, catering well to traders' technical needs. However, one notable difference is that while IronFX's app automatically saves chart drawings, FXOpen's does not. Despite these capabilities, neither broker offers watchlist symbol syncing, which can be a drawback for those frequently switching between devices.
When it comes to watchlist features, both brokers allow creation with real-time quotes. Yet, in terms of user ratings, FXOpen's app is slightly favored with a 4-star rating, outperforming IronFX's 3.5-star rating. This preference is also reflected in their rankings among 62 brokers for mobile trading apps, where FXOpen stands at #54 compared to IronFX at #61. Such distinctions might influence a trader's choice, especially if app performance and user experience are of primary concern.
| Feature |
IronFX
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 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.
IronFX and FXOpen both provide valuable market research elements that can help traders stay informed and make better decisions. Each broker offers daily market commentary and forex news from esteemed sources like Bloomberg and Reuters. For traders seeking tools for technical analysis, IronFX stands out as it provides access to Trading Central's resources, while FXOpen does not share this feature. Both brokers, however, fall short in offering technical analysis tools from Autochartist and lack sentiment-based trading tools that deliver data on long or short positions across currency pairs.
In terms of comprehensive research offerings, IronFX tends to have an edge with its economic calendar featuring global news events, a feature shared with FXOpen. Despite the absence of advanced research tools from TipRanks and Acuity Trading for both platforms, IronFX's research capabilities are rated higher at four stars compared to FXOpen's three stars. Ranked by ForexBrokers.com, IronFX holds the 28th position out of 62 brokers for research, clearly ahead of FXOpen, which ranks at 62nd, indicating a more robust overall research presence.
| Feature |
IronFX
|
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 | No | No |
| TipRanks | No | 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 beginners, IronFX stands out compared to FXOpen. IronFX provides a wealth of foundational materials with over 10 articles, videos, and archived webinars focused on forex and CFDs. Importantly, IronFX also offers 10 educational videos specifically designed for beginners, helping new traders grasp essential trading concepts. In addition to these, IronFX includes a searchable archive of previously recorded client webinars and an investor dictionary with over 50 investing terms, making it a more comprehensive option for novice traders. Meanwhile, FXOpen lacks the same depth in beginner education, offering neither a minimum of 10 educational pieces nor a collection of beginner-focused educational videos.
Neither IronFX nor FXOpen hosts regular online educational webinars for clients, and both brokers fall short in providing advanced educational videos for experienced traders. However, both offer an investor dictionary with over 50 investing terms. In terms of educational ratings, IronFX is rated 4 stars and is ranked #44 out of 62 brokers by ForexBrokers.com, whereas FXOpen is rated 3 stars and holds the #58 spot. These rankings highlight IronFX as a stronger choice for beginners seeking comprehensive educational tools and resources compared to FXOpen.
| Feature |
IronFX
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | 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 IronFX is better than FXOpen. IronFX finished with an overall rank of #48, while FXOpen finished with an overall rank of #54.
IronFX has come a long way to rebuild its brand, acquiring multiple regulatory licenses to improve its Trust Score, and creating balanced educational material. That said, pricing is an area where IronFX has room to further improve as spreads appeared higher than the industry average.
| Feature |
IronFX
|
FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 83 | 76 |
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Both IronFX and FXOpen provide traders with the opportunity to trade cryptocurrency derivatives, but neither platform offers the option to purchase actual (delivered) cryptocurrencies.
Both IronFX and FXOpen lack ACH and SEPA transfer options and do not support PayPal for funding accounts, but they both provide Skrill, Visa, Mastercard, and bank wire options for deposits and withdrawals.
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 | IronFX | FXOpen | |
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| Trust Score | 83 | 76 | |
| Winner | check_circle | ||
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| Broker Screenshots | IronFX | FXOpen | |
|---|---|---|---|
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| Mobile Trading Gallery (click to expand) | |||
| Research Gallery (click to expand) | |||
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| Regulation | IronFX | FXOpen | |
|---|---|---|---|
| Trust Score | 83 | 76 | |
| Year Founded | 2010 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 2 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | IronFX | 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) | 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) | IronFX | 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 | IronFX | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 340 | 87 | |
| Forex Pairs (Total) | 83 | 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 | IronFX | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IronFX | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $50 | $100 | |
| PayPal (Deposit/Withdraw) | No | 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 | IronFX | FXOpen | |
|---|---|---|---|
| Proprietary Platform | No | 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 | No | Yes |
| Trading Tools | IronFX | 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) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IronFX | 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 | 30 | 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 | IronFX | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | IronFX | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IronFX | 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 |
| Overall | IronFX | FXOpen | |
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| Trust Score | 83 | 76 | |
| Winner | check_circle | ||
| Review |
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