iFOREX 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.

iFOREX has a Trust Score of 75, giving it a "Average Risk" Trust Score Label.

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

iFOREX, previously known as Vestle, offers a proprietary trading platform as well as a growing selection of nearly 750 symbols. However, the MetaTrader suite is not available at iFOREX.

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. both iFOREX 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)

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 iFOREX 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 iFOREX is British Virgin Islands (FSC Authorised), while FXOpen is none.. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and 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 iFOREX offers a Proprietary Platform, whereas FXOpen supports a Desktop Platform (Windows) and ZuluTrade. Neither have cTrader and DupliTrade

For MetaTrader iFOREX 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.

iFOREX requires a minimum deposit of $100, 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 iFOREX supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for funding and deposit methods, whereas FXOpen supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (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 iFOREX delivers a more diverse selection of investment options than FXOpen, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Neither have Spread Betting.

We also keep track of each broker’s total number of tradeable symbols; iFOREX offers 750, 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 iFOREX nor FXOpen allow you to trade physical cryptocurrencies.

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. iFOREX delivers the following research tools: Daily Market Commentary, Stock Charts and Trading Central (Recognia). 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

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