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FXOpen vs Libertex (Forex Club) 2023

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between FXOpen and Libertex (Forex Club)? Weโ€™ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, FXOpen ranks more highly than Libertex (Forex Club).

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% 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.
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Overall RatingFXOpenLibertex (Forex Club)
Overall Rating 7 / 10 6.7 / 10
Account TypeFXOpenLibertex (Forex Club)
Standard Trade Size (100,000 units) Yes Yes
Mini Trade Size (10,000 units) Yes Yes
Micro Trade Size (1,000 units) Yes Yes
Islamic Account Yes No
Copy TradingFXOpenLibertex (Forex Club)
Social Trading / Copy Trading Yes Yes
DupliTrade No No
ZuluTrade Yes No
CryptocurrencyFXOpenLibertex (Forex Club)
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Bitcoin Yes Yes
ethereum Yes Yes
Forex Trading (Spot or CFDs)FXOpenLibertex (Forex Club)
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)FXOpenLibertex (Forex Club)
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsFXOpenLibertex (Forex Club)
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting No No
Social Trading / Copy Trading Yes Yes
Metals Yes Yes
Energies Yes Yes
Agriculturals No Yes
ETF Yes Yes
U.S. Stocks (CFD) Yes Yes
Trading PlatformsFXOpenLibertex (Forex Club)
Apple iOS App Yes Yes
Android App Yes Yes
Proprietary Platform No Yes
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
MetaTrader 4 (MT4) Yes Yes
MetaTrader 5 (MT5) Yes No
Regulatory LicensesFXOpenLibertex (Forex Club)
Tier-1 Licenses 2 1
ASIC Authorised (Australia) Yes No
IIROC Authorised (Canada) No No
FCA Authorised (U.K.) Yes No
SFC Authorised (Hong Kong) No No
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) No No
CFTC Registered (USA) No No
Tier-2 Licenses 1 1
Tier-3 Licenses 0 0
Research, EducationFXOpenLibertex (Forex Club)
Trading Central (Recognia) No No
Forex News (Top-Tier Sources) Yes Yes
Daily Market Commentary Yes No
Autochartist No No
Investor Dictionary (Glossary) Yes No
Videos - Beginner Trading Videos No No
Client Webinars (Archived) No No
Trading CostsFXOpenLibertex (Forex Club)
Minimum Initial Deposit $100 $10
Average Spread EUR/USD - Standard N/A -1
All-in Cost EUR/USD - Active N/A -1
Active Trader or VIP Discounts Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes No
PayPal (Deposit/Withdraw) No Yes
Trading ToolsFXOpenLibertex (Forex Club)
Watchlists - Total Fields 7 7
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 30 15
Mobile Charting - Indicators / Studies 30 30
Trust FactorsFXOpenLibertex (Forex Club)
Year Founded 2003 1997
Publicly Traded (Listed) No No
Bank No No
Authorised in European Union Yes info Yes info
Trust Score 80 72
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FXOpen vs Libertex (Forex Club) Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare FXOpen vs Libertex (Forex Club).

Can I trust FXOpen?

FXOpen has a trust score of 80, giving it a "Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are โ€“ in most cases โ€“ operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a โ€œDo Not Trustโ€ rating.

Can I trust Libertex (Forex Club)?

Libertex (Forex Club) has a trust score of 72, giving it a "Average Risk" trust label.

Is FXOpen a good broker?

FXOpen is a plain vanilla MetaTrader broker that also offers the TickTrader platform. With less than 50 markets available to trade, and a limited selection of educational materials, FXOpen simply can't compete with the best forex brokers.

Is Libertex (Forex Club) a good broker?

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. FXOpen is ASIC Authorised (Australia) and FCA Authorised (U.K.), while Libertex (Forex Club) is none., neither have IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand), FINMA Authorised (Switzerland) and CFTC Registered (USA)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, both FXOpen and Libertex (Forex Club) are CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses unfortunately, neither FXOpen nor Libertex (Forex Club) are SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu)., neither have VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

For trading platforms FXOpen supports a Desktop Platform (Windows) and ZuluTrade, whereas Libertex (Forex Club) supports a Proprietary Platform and Desktop Platform (Windows)., neither have cTrader and DupliTrade

Does FXOpen offer MetaTrader? Does Libertex (Forex Club) offer MetaTrader?

For MetaTrader FXOpen provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Libertex (Forex Club) provides MetaTrader 4 (MT4). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

How do FXOpen and Libertex (Forex Club) differ in terms of minimum deposit? What about average spreads and funding options?

FXOpen requires a minimum deposit of $100, while Libertex (Forex Club) requires a minimum deposit of $10. From our testing we found FXOpen offers spreads of N/A, while Libertex (Forex Club) offers spreads of -1. FXOpen supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for popular funding options, where Libertex (Forex Club) supports Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw).

Which brokers offers more tradeable asset classes, FXOpen or Libertex (Forex Club)?

FXOpen offers a more diverse selection of investment options than Libertex (Forex Club) allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, ETF and U.S. Stocks (CFD)., neither have Spread Betting Looking at total tradeable symbols, FXOpen has 87, compared to 300 from Libertex (Forex Club).

Can I trade cryptocurrency with FXOpen or Libertex (Forex Club)?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither FXOpen nor Libertex (Forex Club) allow you to trade physical cryptocurrencies.

Who offers more research tools, FXOpen or Libertex (Forex Club)?

In terms of research and research tools FXOpen gives traders the following tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. In comparison Libertex (Forex Club) has the tools listed here: Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading., neither have Autochartist and Trading Central (Recognia)

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