FXOpen vs Xtrade 2023

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 – in most cases – 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 “Do Not Trust” rating.

Xtrade has a trust score of 80, giving it a "Trusted" trust label.

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.

Xtrade offers a proprietary platform and holds an increasing number of regulatory licenses, but with less than 200 available symbols it just can't compete with the best forex brokers.

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 Australia (ASIC Authorised) and United Kingdom (U.K.) (FCA Authorised), while Xtrade is Australia (ASIC Authorised).. Neither have 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)

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, FXOpen is Cyprus (CySEC Authorised), while Xtrade is Cyprus (CySEC Authorised) and South Africa (FSCA Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses FXOpen is none, while Xtrade is Belize (FSC Authorised).. Neither have Bahamas (SCB Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).

For trading platforms FXOpen supports a Desktop Platform (Windows) and ZuluTrade, whereas Xtrade supports a Proprietary Platform.. Neither have cTrader and DupliTrade

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

FXOpen requires a minimum deposit of $100, while Xtrade requires a minimum deposit of $250. From our testing we found FXOpen offers spreads of N/A, while Xtrade offers spreads of N/A. Both FXOpen and Xtrade offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for deposits.. Neither have PayPal (Deposit/Withdraw)

FXOpen offers a more diverse selection of investment options than Xtrade 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 142 from Xtrade.

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 — including spot forex contracts. In terms of trading physical cryptocurrency neither FXOpen nor Xtrade allow you to trade physical cryptocurrencies.

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 Xtrade has the tools listed here: Daily Market Commentary, Stock Charts and Forex News (Top-Tier Sources).. Neither have Autochartist and Trading Central (Recognia)

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