Written by ForexBrokers.com
In this head to head comparison of TeleTrade 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.
TeleTrade and FXOpen, founded in 1994 and 2003 respectively, are both notable players in the online brokerage arena. Neither company is publicly listed or operates as a bank, marking them as independent entities in the financial market. In terms of trust and reliability, FXOpen holds a slight edge with a ForexBrokers.com Trust Score of 76, indicating an average risk. In comparison, TeleTrade has a score of 71, also placing it within the average risk category. Both brokers are non-bank companies, navigating the financial world without the backing of a stock exchange listing.
Regulation is a key differentiator between these brokers. TeleTrade holds 1 Tier-1 license, which suggests a higher trust level compared to less regulated counterparts. FXOpen, however, surpasses this with 2 Tier-1 licenses, reflecting its commitment to higher regulatory standards. Despite both having no Tier-2 licenses, FXOpen's additional Tier-1 license and slightly higher trust score might make it more appealing to traders valuing regulatory oversight.
| Feature |
TeleTrade
|
FXOpen
|
|---|---|---|
| Year Founded | 1994 | 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 online brokers TeleTrade and FXOpen, a review of their commissions and fees reveals distinct insights. TeleTrade, rated with 4 stars in the commissions and fees category, offers a competitive experience but lacks available data on average spread information. This broker is ranked 46th out of 62 brokers by ForexBrokers.com in the Commissions and Fees category. Despite these constraints, TeleTrade provides a satisfactory level of service for traders concerned with cost efficiency.
Similarly, FXOpen matches TeleTrade with a 4-star rating for commissions and fees, indicating a comparable quality of service in terms of cost management. Like TeleTrade, FXOpen also does not provide average spread data, which makes detailed cost comparisons challenging for potential traders. Nevertheless, FXOpen is slightly better ranked at 45th out of 62 brokers in the same category by ForexBrokers.com, hinting at a marginally superior performance in managing fees and commissions compared to TeleTrade.
Both brokers have room for improvement, particularly in transparency regarding average spread data, which would allow for easier cost assessment by traders. Nonetheless, with only a one rank difference between them, both TeleTrade and FXOpen stand as reasonable choices for those focusing on the importance of commissions and fees in their trading strategy.
| Feature |
TeleTrade
|
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 | 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.
TeleTrade and FXOpen both provide forex trading opportunities through CFDs or spot contracts, catering to a wide range of traders. However, TeleTrade stands out with a more extensive selection of tradeable symbols, offering access to 500, compared to FXOpen's 87. Forex traders will find more choices with TeleTrade as it boasts 61 tradeable forex pairs, while FXOpen offers 25. Despite their different scale in trade options, both brokers lack the option to trade exchange-traded securities directly from U.S. or international exchanges, which limits their appeal to investors seeking stock market exposure in companies like Apple or Vodafone.
Both platforms support copy trading and offer the ability to trade cryptocurrency derivatives, though they do not allow users to buy actual cryptocurrencies. When comparing ratings, TeleTrade is awarded 3.5 stars for its range of investments, slightly ahead of FXOpen's 3 stars. According to ForexBrokers.com, TeleTrade ranks 45th out of 62 brokers for its investment offerings, placing significantly higher than FXOpen, which ranks 61st. This suggests that TeleTrade may offer a more comprehensive range of investment options for traders seeking more diverse opportunities.
| Feature |
TeleTrade
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 500 | 87 |
| Forex Pairs (Total) | 61 | 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 offered by TeleTrade and FXOpen, both brokers provide a substantial range of features to cater to traders. Each broker supports simulated trading with free virtual demo accounts, allowing users to practice and hone their skills without financial risk. They offer both the widely-used MetaTrader 4 and MetaTrader 5 platforms, ensuring a familiar and comprehensive trading environment. With options for Windows-based desktop downloads and web-based browser access, both TeleTrade and FXOpen provide flexible trading experiences. Furthermore, they each enable features such as copy trading and integration with ZuluTrade, but neither offers DupliTrade or any proprietary platforms developed in-house.
On the charting front, TeleTrade and FXOpen offer 15 drawing tools each, allowing traders to analyze and strategize effectively. They provide the capability to execute trades directly from stock charts and support seven columns for watch lists to keep a detailed eye on market developments. With both brokers earning four-star ratings for their trading platforms and tools, they present reliable options for traders. However, according to ForexBrokers.com, TeleTrade is ranked slightly higher at 51st compared to FXOpen's 53rd out of 62 brokers reviewed in the Trading Platforms and Tools category, suggesting minor differences in user experience or feature set satisfaction.
| Feature |
TeleTrade
|
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) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | Yes |
| Charting - Indicators / Studies (Total) | 35 | 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 TeleTrade and FXOpen provide robust mobile trading apps compatible with iPhone and Android devices, offering essential features that cater to traders on the go. TeleTrade and FXOpen both support stock and forex price alerts as well as the ability to create watchlists with real-time quotes. However, neither offers synced watchlist symbols across mobile and online accounts. Charting capabilities are slightly more extensive with TeleTrade, which offers 35 technical studies compared to FXOpen's 30. Additionally, while both apps allow users to draw trendlines and view multiple time frames for their charts, only TeleTrade's app auto-saves these drawings.
When it comes to overall ratings and rankings in the mobile trading apps category, both apps earn a respectable four out of five stars. Nonetheless, TeleTrade holds a significant edge, being ranked at #25 by ForexBrokers.com, while FXOpen stands at #54. This difference may be attributed to TeleTrade's richer charting feature set and auto-save drawing function. These distinctions could be crucial for traders who prioritize detailed chart analysis in their mobile trading experiences.
| Feature |
TeleTrade
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 35 | 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.
Both TeleTrade and FXOpen provide daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters, making them reliable choices for staying updated with market developments. However, neither broker offers technical analysis or fundamental research tools from reference firms like Autochartist or Trading Central, nor do they have sentiment-based trading tools to gauge market positions. Additionally, neither TeleTrade nor FXOpen supports research tools from TipRanks or Acuity Trading, indicating a lack of specialized analytical resources.
On a positive note, both brokers do provide an economic calendar to keep track of global news events impacting various economies. When it comes to research ratings, TeleTrade edges out slightly with a 3.5-star rating compared to FXOpen's 3 stars. In terms of overall rankings by ForexBrokers.com, TeleTrade positions better at #38 out of 62 brokers, whereas FXOpen trails behind at #62. This comparison highlights that while both brokers offer essential market commentary and news coverage, TeleTrade may offer a marginally better research experience overall.
| Feature |
TeleTrade
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | 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.
For those diving into the world of trading, understanding the educational resources offered by online brokers is crucial. When comparing TeleTrade and FXOpen, neither platform provides an abundance of educational materials specifically tailored to forex or CFDs. Both companies also lack online educational client webinars and do not offer archives of previously recorded sessions. Beginner and advanced educational videos are also absent in quantities that truly benefit newcomers or experienced traders looking to deepen their knowledge.
Despite these limitations, TeleTrade provides an investor dictionary, setting it apart slightly as a resource for understanding investing terminology. FXOpen, on the other hand, does not include this feature. However, in terms of education ratings and rankings, TeleTrade narrowly edges out FXOpen with a 3.5-star rating compared to FXOpen's 3 stars. Ranking-wise, TeleTrade is placed at #61, while FXOpen ranks slightly higher at #58 out of 62 brokers according to ForexBrokers.com. This nuanced comparison highlights some differences in educational support, yet overall, both platforms leave much to be desired for beginners seeking comprehensive learning materials.
| Feature |
TeleTrade
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | No | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | No | No |
| Videos - Beginner Trading Videos | No | 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 TeleTrade is better than FXOpen. TeleTrade finished with an overall rank of #50, while FXOpen finished with an overall rank of #54.
TeleTrade was an early pioneer of mobile apps for finance, then became a forex and CFD broker, now offering the MetaTrader platform. With just one regulatory license, Teletrade has a lower Trust Score than more established forex brokers.
| Feature |
TeleTrade
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FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 71 | 76 |
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Both TeleTrade and FXOpen do not offer the ability to buy actual (delivered) cryptocurrencies but do provide options for purchasing cryptocurrency derivatives.
Both TeleTrade and FXOpen offer Skrill and Visa or Mastercard as deposit and withdrawal options, but neither supports ACH, SEPA, or PayPal transfers, while both provide the option of bank wires for account transactions.
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 | TeleTrade | FXOpen | |
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| Trust Score | 71 | 76 | |
| Winner | check_circle | ||
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| Broker Screenshots | TeleTrade | FXOpen | |
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| Regulation | TeleTrade | FXOpen | |
|---|---|---|---|
| Trust Score | 71 | 76 | |
| Year Founded | 1994 | 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 | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | TeleTrade | 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) | No | 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) | TeleTrade | 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 | TeleTrade | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 500 | 87 | |
| Forex Pairs (Total) | 61 | 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 | TeleTrade | 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 | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | TeleTrade | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $100 | $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 | TeleTrade | 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) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | Yes |
| Trading Tools | TeleTrade | FXOpen | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 35 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | TeleTrade | 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 | 35 | 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 | TeleTrade | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | TeleTrade | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | No | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | No | No | |
| Videos - Beginner Trading Videos | No | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | TeleTrade | 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 | TeleTrade | FXOpen | |
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| Trust Score | 71 | 76 | |
| Winner | check_circle | ||
| Review |
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