FXOpen vs FXPrimus Comparison
Comparing forex brokers side by side is no easy task. For our 2022 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 FXPrimus.
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 – 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.
Can I trust FXPrimus?
FXPrimus has a trust score of 69, giving it a "High 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 FXPrimus 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 FXPrimus 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 FXPrimus are CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), NSE 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 FXOpen is none, while FXPrimus is VFSC Authorised (Vanuatu)., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands) and FSC Authorised (Mauritius).
Which broker offers more trading platforms?
For trading platforms FXOpen supports a Desktop Platform (Windows) and ZuluTrade, whereas FXPrimus supports a Desktop Platform (Windows) and cTrader., neither have Proprietary Platform and DupliTrade
Does FXOpen offer MetaTrader? Does FXPrimus offer MetaTrader?
Both FXOpen and FXPrimus offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.
How do FXOpen and FXPrimus differ in terms of minimum deposit? What about average spreads and funding options?
FXOpen requires a minimum deposit of $100, while FXPrimus requires a minimum deposit of $100. From our testing we found FXOpen offers spreads of N/A, while FXPrimus offers spreads of N/A. Both FXOpen and FXPrimus offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for deposits., neither have PayPal (Deposit/Withdraw)
Which brokers offers more tradeable asset classes, FXOpen or FXPrimus?
FXOpen offers a more diverse selection of investment options than FXPrimus allowing you to trade Forex Trading, Trading - Forex or CFDs, Social Trading / Copy Trading, Metals, Energies, ETF and U.S. Stocks (CFD)., neither have Spread Betting and Agriculturals Looking at total tradeable symbols, FXOpen has 87, compared to 140 from FXPrimus.
Can I trade cryptocurrency with FXOpen or FXPrimus?
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 FXPrimus allow you to trade physical cryptocurrencies.
Who offers more research tools, FXOpen or FXPrimus?
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 FXPrimus has the tools listed here: Daily Market Commentary, Stock Charts and Social Trading / Copy Trading., neither have Autochartist and Trading Central (Recognia)