Spreadex vs FXOpen 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 Spreadex vs FXOpen.
Can I trust Spreadex?
Spreadex has a trust score of 70, giving it a "Average Risk" 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 FXOpen?
FXOpen has a trust score of 80, giving it a "Trusted" trust label.
Is Spreadex a good broker?
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.
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. Spreadex is FCA Authorised (U.K.), while FXOpen is ASIC Authorised (Australia) and FCA Authorised (U.K.)., 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, Spreadex is none, while FXOpen is 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 unfortunately, neither Spreadex nor FXOpen 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 Spreadex supports 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. From our testing we found Spreadex offers spreads of -1, while FXOpen offers spreads of N/A. Spreadex supports Bank Wire (Deposit/Withdraw) and Visa/Mastercard (Credit/Debit) for popular funding options, where FXOpen supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw)., neither have PayPal (Deposit/Withdraw)
Which brokers offers more tradeable asset classes, Spreadex or FXOpen?
Spreadex offers a more diverse selection of investment options than FXOpen allowing you to trade Forex Trading, Trading - Forex or CFDs, Spread Betting, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Looking at total tradeable symbols, Spreadex has 2000, compared to 87 from FXOpen.
Can I trade cryptocurrency with Spreadex or FXOpen?
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 Spreadex nor FXOpen allow you to trade physical cryptocurrencies.
Who offers more research tools, Spreadex or FXOpen?
In terms of research and research tools Spreadex gives traders the following tools: Daily Market Commentary, Stock Charts and Forex News (Top-Tier Sources). In comparison FXOpen has 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)