Written by ForexBrokers.com
In this head to head comparison of Spreadex 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.
Spreadex, established in 1999, and FXOpen, founded in 2003, both operate in the online brokerage industry, yet neither is publicly traded nor functions as a bank. When it comes to regulatory oversight, Spreadex holds one Tier-1 license, highly regarded for ensuring trustworthy practices, while FXOpen holds two Tier-1 licenses, suggesting a comparable yet slightly more reinforced regulatory stance. This reliance on top-tier licenses aligns with their respective trust ratings assigned by ForexBrokers.com.
According to ForexBrokers.com, Spreadex earns a Trust Score of 71 out of 99, indicating an average risk to users. On the other hand, FXOpen scores moderately higher with a Trust Score of 76, placing it also in the average risk category but closer to a trusted level. While both companies provide options for online trading and investments, FXOpen's additional license and marginally higher trust rating might offer slightly more peace of mind for cautious traders.
| Feature |
Spreadex
|
FXOpen
|
|---|---|---|
| Year Founded | 1999 | 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 | 0 | 0 |
When comparing the commissions and fees of online brokers Spreadex and FXOpen, both aim to offer competitive conditions, though their specific offerings differ. Spreadex boasts an average spread of 0.81 pips for the EUR/USD pair as of January 2024, with a minimum spread of 0.6 pips available 60% of the time. While FXOpen does not provide detailed average spread data, it remains a critical factor for traders to consider.
In terms of overall ratings for commissions and fees, both Spreadex and FXOpen receive a solid 4 out of 5 stars. This indicates a generally favorable reception in terms of cost-effectiveness from users and reviewers alike. However, the ranking from ForexBrokers.com highlights differences between the two, with Spreadex securing the #27 spot out of 62 brokers, suggesting slightly better conditions or lower costs compared to FXOpen, which is ranked at #45.
While both brokers offer competitive rates, the finer details and specific trading conditions such as available spreads can impact trader decisions. Spreadex provides a more transparent overview of its spread data for the popular EUR/USD pair, which may be a crucial deciding factor for potential clients evaluating these two brokers. As always, traders should consider both the cost structure and additional features when making a choice to suit their trading preferences and needs.
| Feature |
Spreadex
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 0.81 | 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) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing online brokers Spreadex and FXOpen, there are notable differences in their range of investments. Spreadex impresses with a staggering offering of 10,000 tradeable symbols, including 52 forex pairs, allowing traders a diverse selection to suit various trading strategies. This extensive range earns Spreadex a high ranking and a solid 5-star rating in the Range of Investments category. In contrast, FXOpen provides access to 87 tradeable symbols, with 25 forex pairs. This more focused selection is reflected in a 3-star investment range rating.
Neither Spreadex nor FXOpen offers the opportunity to trade exchange-traded securities on U.S. or international exchanges, meaning traditional stock purchasing is off the table. However, both platforms allow trading in cryptocurrency derivatives, though they don’t support purchasing actual cryptocurrencies. An advantage for FXOpen users is the availability of copy trading, a feature not provided by Spreadex. Ultimately, in terms of range of investments, Spreadex stands out as a strong choice, while FXOpen offers a more streamlined selection with features like copy trading to explore.
| Feature |
Spreadex
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 87 |
| Forex Pairs (Total) | 52 | 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 Spreadex and FXOpen, both brokers provide a free virtual demo account, allowing users to practice trading without real financial risk. Spreadex employs a proprietary platform developed in-house, offering a unique trading experience directly through a web-based interface. FXOpen, meanwhile, doesn't have its own proprietary platform, but provides traders with a more traditional desktop download option for Windows users. Both brokers support web-based trading platforms, but Spreadex doesn't offer popular third-party platforms like MetaTrader 4 or MetaTrader 5, which are available with FXOpen. Moreover, FXOpen distinguishes itself with copy trading capabilities and support for ZuluTrade, giving users extra features for automated and social trading strategies.
For charting and visualization tools, FXOpen provides more options with 15 drawing tools, compared to Spreadex's 11. However, both brokers allow trading directly from stock charts and provide comprehensive watch lists, though Spreadex offers slightly more customizable columns with 8 fields. Both brokers received a rating of four stars for their Trading Platforms and Tools, showcasing solid offerings to meet diverse trading needs. While Spreadex ranks higher in the Trading Platforms and Tools category (#46) compared to FXOpen (#53) according to ForexBrokers.com, the choice between these brokers often comes down to whether proprietary features or expansive platform compatibility with additional trading tools better meet individual trading preferences.
| Feature |
Spreadex
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | 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) | 58 | 30 |
| Charting - Drawing Tools (Total) | 11 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 8 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Spreadex and FXOpen offer convenient mobile trading apps for iPhone and Android users, ensuring you can manage your trades on the go. They both feature essential functions such as stock and forex price alerts and the ability to draw trendlines on charts, providing traders with tools to track market movements effectively. Users of both platforms can also view multiple time frames on stock or forex charts, including daily, weekly, or intraday data, facilitating more informed decision-making. Additionally, creating a watchlist with real-time quotes is possible on both apps, although neither allows for watchlist symbol syncing across devices.
When delving deeper into charting capabilities, FXOpen stands out by offering 30 technical studies, whereas Spreadex does not provide specific information on this feature. However, neither platform offers auto-saving for chart drawings. Despite these differences, both apps have garnered the same rating of 4 out of 5 stars for mobile trading. According to ForexBrokers.com, Spreadex is slightly higher ranked than FXOpen at #46 compared to #54 out of 62 brokers. Ultimately, the choice between them may hinge on individual preferences regarding specific charting functionalities and platform rankings.
| Feature |
Spreadex
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | N/A | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both Spreadex and FXOpen offer daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters, ensuring traders stay informed of the latest market movements. However, when it comes to technical analysis tools, Spreadex pulls ahead with offerings from the company Autochartist, whereas FXOpen lacks such features. In terms of sentiment analysis, Spreadex provides a tool showing the ratio of long or short positions across various instruments, while FXOpen does not offer this capability. Additionally, while both brokers provide an economic calendar with global news, neither offers research tools from companies like Trading Central, TipRanks, or Acuity Trading.
In terms of research capability ratings, Spreadex scores 4 out of 5 stars, ranking #31 out of 62 brokers on ForexBrokers.com, indicating a stronger overall research offering compared to FXOpen, which receives 3 stars and ranks at #62. These rankings reflect Spreadex's more comprehensive research tools compared to FXOpen, making it a more robust option for traders seeking in-depth market insights.
| Feature |
Spreadex
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | 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 comparing the educational resources available for beginners between Spreadex and FXOpen, Spreadex stands out as a more beginner-friendly option. Spreadex offers over 10 educational materials focused on forex and CFDs, alongside a collection of beginner-focused trading videos that cover a range of essential topics for newcomers. Additionally, users can benefit from an investor dictionary that provides definitions for over 50 investing terms. While online webinars and advanced educational videos are not part of Spreadex's offerings, its educational content still earns it a 4-star rating and a ranking of 45 out of 62 brokers by ForexBrokers.com.
FXOpen, on the other hand, provides a more limited learning experience for beginners. It does not offer the minimum 10 educational pieces focused on forex and CFDs, and lacks educational videos tailored specifically for beginners. However, similar to Spreadex, FXOpen does have an investor dictionary with over 50 terms to help traders grasp key concepts. Without the benefit of online webinars or advanced educational videos, FXOpen's educational offerings receive a 3-star rating and are ranked 58 out of 62 brokers by ForexBrokers.com. For those prioritizing educational resources, Spreadex offers a more comprehensive suite of tools to kickstart their trading journey.
| Feature |
Spreadex
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | Yes | 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) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Spreadex is better than FXOpen. Spreadex finished with an overall rank of #39, while FXOpen finished with an overall rank of #54.
Spreadex is an FCA-regulated broker in the UK, offering forex and CFDs, and is well known for its sports betting business, and proprietary web trading platforms. Spreadex still has considerable room to improve, in key categories such as research and education, compared to the best forex brokers.
| Feature |
Spreadex
|
FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 71 | 76 |
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Both Spreadex and FXOpen provide the option to trade cryptocurrency derivatives but do not offer the capability to purchase actual, delivered cryptocurrencies.
Both Spreadex and FXOpen do not support ACH, SEPA, or PayPal transactions for account deposits or withdrawals, though FXOpen provides an advantage with Skrill availability, while both brokers offer Visa, Mastercard, and bank wire 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 | Spreadex | FXOpen | |
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| Trust Score | 71 | 76 | |
| Winner | check_circle | ||
| Review | Spreadex Review |
| Broker Screenshots | Spreadex | FXOpen | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) | |||
| Mobile Trading Gallery (click to expand) | |||
| Research Gallery (click to expand) | |||
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| Regulation | Spreadex | FXOpen | |
|---|---|---|---|
| Trust Score | 71 | 76 | |
| Year Founded | 1999 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 1 | 2 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | Spreadex | 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). | No | Yes |
| Tier-2 Licenses (Trusted) | Spreadex | 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 | Spreadex | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 87 | |
| Forex Pairs (Total) | 52 | 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 | Spreadex | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.81 | 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 | Spreadex | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Spreadex | 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 | Spreadex | FXOpen | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 8 | 7 | |
| Charting - Indicators / Studies (Total) | 58 | 30 | |
| Charting - Drawing Tools (Total) | 11 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Spreadex | 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 | N/A | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Spreadex | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Spreadex | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | 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) | Yes | Yes |
| Major Forex Pairs | Spreadex | 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 | Spreadex Review |
| Overall | Spreadex | FXOpen | |
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| Trust Score | 71 | 76 | |
| Winner | check_circle | ||
| Review | Spreadex Review |
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