FXOpen vs tastyfx 2024

FXOpen is not a publicly traded company, does not operate a bank, and is authorised by three Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). FXOpen is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and and regulated in the European Union via the MiFID passporting system.

tastyfx's parent company, IG, is a publicly traded company, operates a regulated bank, and is authorised by eight Tier-1 regulators (Highly Trusted), two Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk). IG is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA), Financial Conduct Authority (FCA), Financial Markets Authority (FMA), and the Commodity Futures Trading Commission (CFTC), and regulated in the European Union via the MiFID passporting system.

FXOpen is a long standing MetaTrader broker with a narrow offering and few benefits beyond a standard MetaTrader experience coupled with social-trading platforms ZuluTrade and Myfxbook.

tastyfx, the US arm of IG's forex business, offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.

To open a trading account with FXOpen, you'll need to make an initial minimum deposit of $100.

tastyfx requires a minimum deposit of $250.00 before you can open an account and start trading.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. FXOpen offers Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw) for banking, whereas tastyfx provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw) and PayPal (Deposit/Withdraw).

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that FXOpen offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that tastyfx holds 8 global Tier-1 licenses, while FXOpen holds 2. tastyfx holds 2 global Tier-2 licenses, while FXOpen holds 0.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that tastyfx (99) earned a higher Trust Score than FXOpen (76).

To compare the trading platforms of both FXOpen and tastyfx, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, FXOpen offers a better experience. With research, FXOpen offers superior market research. Finally, we found FXOpen to provide better mobile trading apps.

Here’s what trading platforms are available at FXOpen:

• Proprietary Platform - No
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - Yes
• TradingView - No

Here’s what trading platforms are available at tastyfx:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - No
• ZuluTrade - No
• TradingView - No

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Both FXOpen and tastyfx offer MetaTrader 4 (MT4). Forex traders also appreciate the ability to engage in social copy trading. While FXOpen offers copy trading, tastyfx does not.

tastyfx provides traders 97 currency pairs (e.g., EUR/USD) compared to FXOpen's 25 available pairs. If you are interested in trading a full range of securities, tastyfx offers traders access to 19537 tradeable symbols, while FXOpen offers access to 87 tradeable symbols; so tastyfx offers 19450 more tradeable symbols than FXOpen.

We found in our testing that FXOpen offers a more diverse selection of investment options than tastyfx, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Cryptocurrency (Derivative) and Social Trading / Copy Trading. Neither have Cryptocurrency (Physical).