TeleTrade vs FXOpen 2024

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.

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

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

Founded in 1994, TeleTrade offers the full MetaTrader suite (both MT4 and MT5) as well as its proprietary TeleTrade Analytics mobile app that delivers news and market analysis. However, TeleTrade holds just one regulatory license, bringing its Trust Score rating down.

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.

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. TeleTrade holds regulatory licenses in the following Tier-1 jurisdictions: none. FXOpen, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: 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)

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 TeleTrade and FXOpen are 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 TeleTrade 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).

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 both TeleTrade and FXOpen offer a Desktop Platform (Windows) and ZuluTrade. Neither have Proprietary Platform, cTrader and DupliTrade

Both TeleTrade and FXOpen 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.

TeleTrade requires a minimum deposit of $100, while FXOpen requires a minimum deposit of $100. You'll also want to make sure that your broker accepts the funding options and deposit methods that work best for you. In our testing, we've found that both TeleTrade and FXOpen offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for deposits. Neither have PayPal (Deposit/Withdraw)

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 TeleTrade delivers a more diverse selection of investment options than FXOpen, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies and U.S. Stocks (CFD). Neither have Spread Betting and Agriculturals.

We also keep track of each broker’s total number of tradeable symbols; TeleTrade offers 500, and FXOpen offers a total of 87 tradeable symbols.

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 TeleTrade nor FXOpen allow you to trade physical cryptocurrencies.

The best forex brokers arm their clients with a variety of research tools and resources. Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. In our testing, we discovered that both TeleTrade and FXOpen offer the same suite of research tools and resources. Here’s a comprehensive list of the tools provided by both brokers: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading.. Neither have Autochartist and Trading Central (Recognia)

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