iFOREX vs FXOpen 2024

Vestle is not publicly traded and does not operate a bank. Vestle is authorised by two Tier-1 regulators (highly trusted), zero Tier-2 regulators (trusted), zero Tier-3 regulators (average risk), and one Tier-4 regulator (high risk). Vestle is authorised by the following Tier-1 regulators: Financial Conduct Authority (FCA) and regulated in the European Union via the MiFID passporting system.

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.

Vestle is operated by a long-standing company, previously known as iForex, 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.

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.

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

FXOpen requires a minimum deposit of $100 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. iFOREX offers Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw) for banking, whereas FXOpen provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (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 FXOpen holds 2 global Tier-1 licenses, while iFOREX holds 1. Both iFOREX and FXOpen hold 0 global Tier-2 licenses.

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 FXOpen (76) earned a higher Trust Score than iFOREX (75).

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

Here’s what trading platforms are available at iFOREX:

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

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

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

iFOREX provides traders 88 currency pairs (e.g., EUR/USD) compared to FXOpen's 25 available pairs. If you are interested in trading a full range of securities, iFOREX offers traders access to 750 tradeable symbols, while FXOpen offers access to 87 tradeable symbols; so iFOREX offers 663 more tradeable symbols than FXOpen.

We found in our testing that iFOREX offers a more diverse selection of investment options than FXOpen, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD) and Cryptocurrency (Derivative). Neither have Int'l Stock Trading (Non CFD), Cryptocurrency (Physical) and Spread Betting.