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Spreadex vs FXOpen 2024

BrokerNotes.co

Written by BrokerNotes.co

August 06, 2024

Trying to decide between Spreadex and FXOpen? We’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, Spreadex ranks more highly than FXOpen.

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Compare

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Overall Rating Spreadex FXOpen
Overall Rating star 7.5 /10 star 7 /10
Offering of Investments star 9.5 /10 star 6.0 /10
Commissions & Fees star 7.5 /10 star 7.5 /10
Platform & Tools star 7.5 /10 star 7.5 /10
Research star 7.5 /10 star 5.5 /10
Mobile Trading star 7.0 /10 star 7.5 /10
Education star 6.5 /10 star 6.0 /10
Account Type Spreadex FXOpen
Standard Trade Size (100,000 units) info Yes Yes
Mini Trade Size (10,000 units) info Yes Yes
Micro Trade Size (1,000 units) info Yes Yes
Islamic Account info No Yes
Deposit/Withdrawal Options Spreadex FXOpen
Minimum Deposit info $0 $100
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
PayPal (Deposit/Withdraw) info No No
ACH or SEPA Transfers info No No
Copy Trading Spreadex FXOpen
Social Trading / Copy Trading info No Yes
DupliTrade info No No
ZuluTrade info No Yes
Cryptocurrency Spreadex FXOpen
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info Yes Yes
Bitcoin info Yes Yes
Ethereum info Yes Yes
Forex Trading (Spot or CFDs) Spreadex FXOpen
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) Spreadex FXOpen
DAX info Yes Yes
Dow Jones info Yes Yes
FTSE info Yes Yes
NASDAQ 100 info Yes Yes
Nikkei info Yes Yes
SP 500 info Yes Yes
Investments Spreadex FXOpen
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info Yes No
Social Trading / Copy Trading info No Yes
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes No
ETF info Yes Yes
U.S. Stocks (CFD) info Yes Yes
Trading Platforms Spreadex FXOpen
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes No
Desktop Platform (Windows) info No Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
Regulatory Licenses Spreadex FXOpen
Tier-1 Licenses info 1 2
Australia (ASIC Authorised) info No No
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info No No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info No info Yes info
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Research, Education Spreadex FXOpen
Trading Central (Recognia) info No No
Forex News (Top-Tier Sources) info Yes Yes
Daily Market Commentary info Yes Yes
Autochartist info No No
Investor Dictionary (Glossary) info Yes Yes
Videos - Beginner Trading Videos info Yes No
Client Webinars (Archived) info No No
Trading Costs Spreadex FXOpen
Minimum Deposit info $0 $100
Average Spread EUR/USD - Standard info 0.81 info N/A info
All-in Cost EUR/USD - Active info N/A info N/A info
Active Trader or VIP Discounts info No Yes
Trading Tools Spreadex FXOpen
Watchlists - Total Fields info 8 7
Mobile Watchlist info Yes Yes
Charting - Indicators / Studies (Total) info 55 30
Mobile Charting - Indicators / Studies info N/A 30
Trust Factors Spreadex FXOpen
Year Founded info 1999 2003
Publicly Traded (Listed) info No No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info No info Yes info
Trust Score info 71 76
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Spreadex vs FXOpen Comparison

Comparing forex brokers side by side is no easy task. Our research team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Trying to decide between Spreadex and FXOpen? Our independent database powered by our unbiased research will help you compare Spreadex vs FXOpen side-by-side.

What is Trust Score?

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

Can I trust Spreadex?

Spreadex has a Trust Score of 71, giving it a "Average Risk" Trust Score Label.

Can I trust FXOpen?

FXOpen has a Trust Score of 76, giving it a "Average Risk" Trust Score Label.

Is Spreadex a good broker?

Spreadex is best known for pioneering sports betting, but it also caters to financial trading through its FCA-regulated entity in the U.K. Spreadex offers its proprietary Spreadex Trading platform as well as a growing selection of markets; that said, fans of third-party platforms like MetaTrader and cTrader will be disappointed to find that Spreadex does not support any third-party platforms. Spreadex can't compete with the best forex brokers in certain key categories, such as education and research, and its lack of additional Tier-1 regulatory licenses weighs down its overall Trust Score rating.

Is FXOpen a good broker?

Founded in 2003, FXOpen is a trusted broker that is regulated in multiple Tier-1 regulatory jurisdictions, boosting its overall Trust Score. FXOpen offers the full MetaTrader suite (both MT4and MT5) alongside the TickTrader platform, though the broker's MetaTrader offering is relatively unimpressive. With an extremely small number of tradeable markets and a limited selection of educational materials, FXOpen simply can't compete with the best forex brokers.

What Tier-1 jurisdictions is each broker regulated in?

Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. both Spreadex and FXOpen are United Kingdom (U.K.) (FCA Authorised).. Neither have Australia (ASIC Authorised), Canada (CIRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)

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, Spreadex is none, while FXOpen is Cyprus (CySEC Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses unfortunately, neither Spreadex nor FXOpen are Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).. Neither have Vanuatu (VFSC Authorised).

Which broker offers more trading platforms?

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that Spreadex offers a Proprietary Platform, whereas FXOpen supports a Desktop Platform (Windows) and ZuluTrade. Neither have cTrader and DupliTrade

Does Spreadex offer MetaTrader? Does FXOpen offer MetaTrader?

For MetaTrader Spreadex provides neither of these, while FXOpen provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

How do Spreadex and FXOpen differ in terms of minimum deposit? What about average spreads and funding options?

Spreadex requires a minimum deposit of $0, while FXOpen requires a minimum deposit of $100. It's also important to ensure your broker accepts the funding options and deposit methods that work best for you. In our research, we've found that Spreadex supports Bank Wire (Deposit/Withdraw) and Visa/Mastercard (Credit/Debit) for funding and deposit methods, whereas FXOpen supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw)

Which broker offers more tradeable asset classes, Spreadex or FXOpen?

When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that Spreadex delivers a more diverse selection of investment options than FXOpen, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Spread Betting, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD).

We also keep track of each broker’s total number of tradeable symbols; Spreadex offers 10000, and FXOpen offers a total of 87 tradeable symbols.

Can I trade cryptocurrency with Spreadex or FXOpen?

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that neither Spreadex nor FXOpen allow you to trade physical cryptocurrencies.

Who offers more research tools, Spreadex or FXOpen?

Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. We test each broker’s research offering to help you decide which broker is right for your technical or fundamental analysis needs. Spreadex delivers the following research tools: Daily Market Commentary, Stock Charts and Forex News (Top-Tier Sources). FXOpen, on the other hand, provides the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. Neither have Autochartist and Trading Central (Recognia)

Broker Reviews

Still looking for more information, read our broker reviews.

Spreadex Review

FXOpen Review

Overall winner: Spreadex

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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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