image FXPro VISIT FXPRO image FX Open VISIT FX OPEN image IG VISIT IG
About

FXPro is regulated by the Financial Conduct Authority, CySEC, FSB, DFSA and SCB. FXPro have provided Forex and spread betting services since 2006.

FX Open is regulated by the Financial Conduct Authority. FX Open have provided Forex, CFD trading services since 2005.

IG is regulated by the Financial Conduct Authority and ASIC. IG have provided forex, spread betting, CFD, and stock trading services since 1974.

Why choose them?
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, CySEC
  • Yes Over 13 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority and ASIC
  • Yes Over 44 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority and ASIC
Headquarters London, UK Level 3, 187 Queen Street, Cbd, Auckland, 1010 London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) No No Yes
CFD No No Yes
Spread Betting Yes No Yes
Social Trading No Yes No
MARKETS & INSTRUMENTS
Forex (currency pairs) 75 50 90
Commodities Offered 17 0 34
Stocks Offered 156 0 8000
Bitcoin Yes Yes Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes No Yes
Penny stocks No No No
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes No Yes
FTSE Yes No Yes
Dow Jones No No Yes
Dax Yes No Yes
Nikkei No No Yes
ETFs No No Yes
IPO No No Yes
See all instruments

79% of retail investor accounts lose money when trading CFDs with this provider

See all instruments

Your capital is at risk

See all instruments

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 Yes No No
MT4 Mac Yes Yes Yes
WebTrader No Yes Yes
Mirror Trader No Yes No
ZuluTrade No Yes No
Sirix No No No
cTrader Yes No No
PAMM No No No
Custom Platforms No No ProRealTime & L2 Dealer

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes Yes No
Available Languages

Arabic, Chinese, English, French, German, Hungarian, Romanian, Turkish, Czech, Slovak, Indonesian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, and Vietnamese

English, Arabic, Farsi, Turkish, Spanish, Portuguese, French, German, Russian, Thai, Malay, and Indonesian

English, French, German, Spanish, and Portuguese

See platform & features

79% of retail investor accounts lose money when trading CFDs with this provider

See platform & features

Your capital is at risk

See platform & features

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by FXPro and FX Open

Demo account No Yes Yes
Mini account Yes Yes Yes
Micro account Yes Yes No
Standard account Yes Yes Yes
ECN Account No Yes No
Islamic account Yes Yes No
Zero spread account No No No
VIP account Yes No Yes
Fixed spreads Yes No No
Variable spreads Yes Yes Yes
See account options

79% of retail investor accounts lose money when trading CFDs with this provider

See account options

Your capital is at risk

See account options

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes Yes Yes
Direct market access No Yes Yes
STP broker No Yes Yes
Market maker Yes Yes No
Min trade Varies 0.01 Lot £1
Max trade Varies None Variable
Min deposit $1 $1 $250

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts Yes No Yes
Signal trading Yes No Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal Yes No Yes
Neteller Yes Yes No
Skrill No No No
Payment processing time 3-5 business days 1-3 business days Varies
Withdrawal processing time 1 business day 1-3 business days Varies
See all funding options

79% of retail investor accounts lose money when trading CFDs with this provider

See all funding options

Your capital is at risk

See all funding options

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

DETAILED INFO

Excluded countries US US BE,FR,IN,IL,PL,ZW
Contact email Send Email Send Email Send Email
phone number 44 (0) 203 151 5550 No 44 20 7633 5300
Live Chat Yes Yes Yes
Website http://www.fxpro.co.uk/ https://www.fxopen.com http://www.ig.com/
Forex Spreads
EUR/USD 0.00 0.00 0.60
GBP/USD 1.80 0.00 0.90
USD/JPY 1.12 0.00 0.70
AUD/USD 1 0 0.6
Cryptocurrency Spreads 15 N/A 10
View all FX spreads

79% of retail investor accounts lose money when trading CFDs with this provider

View all FX spreads

Your capital is at risk

View all FX spreads

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

INDICE SPREADS
Dax 30 N/A 1.0
Nasdaq 100 N/A 1.0
Euro Stoxx 50 N/A 1.5
ASX 200 1.0
S&P 500 N/A 0.4
FTSE 100 N/A 1.0
Google N/A 1 to 20
Facebook N/A 4 points per side
View all spreads

79% of retail investor accounts lose money when trading CFDs with this provider

View all spreads

Your capital is at risk

View all spreads

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

FEES

Inactivity Fee No Yes Yes
Commission No 0.28 points Yes (0.1%)
Deposit Fee Yes Yes Varies
Withdrawal Fee No Yes No
View All Fees

79% of retail investor accounts lose money when trading CFDs with this provider

View All Fees

Your capital is at risk

View All Fees

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

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Last update

All information collected from http://www.fxpro.co.uk/. Last updated on 01/06/2019.

All information collected from https://www.fxopen.com. Last updated on 01/06/2019.

All information collected from http://www.ig.com/. Last updated on 01/06/2019.

Company

FXPro was founded in 2006 and offers CFDs on currency pairs and five other asset classes. They serve customers in over 150 countries and offer a wide range of instruments and platforms including both MT4 and MT5.

For more information about trading with FXPro, we have put together an indepth FXPro review with some of the pros and cons about this broker.

FX Open is an online forex trading service provider who are regulated by the Financial Conduct Authority. To open an account with FX Open, minimum deposits start from $300, £200.

With FX Open you can trade 50 FX pairs, gold, silver, CFD indices and energies. If you like to trade on the go, FX Open have iPhone and Android apps so you can trade from anywhere on your phone.

FX Open offer MT4 - Desktop and WebTrader MT4 - Mobile platforms to make your trades and support 4 different languages.

They also offer traders free educational material to better understand the markets and trading strategies.

The spreads offered by FX Open for the most popular instruments are:
0.3 EUR/USD, FTSE 100, 1.0 GOLD,
0.7 GBP/USD, DOW/JONES, Crude Oil,
see all the spreads here.

Founded in 1974, IG are one of the largest and most respected brokers in the world. With over 125,000 traders, low margins and spreads, and a range of platforms, they're a popular choice for traders looking for a reputable broker that also offers a good range of markets and trading options.

IG are also one of the few brokers that offer experienced traders the chance to upgrade to an elective professional status. For more information about trading with IG, we have put together an indepth IG review with all the pros and cons about this broker.

Popular comparisons

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Popular comparisons feat. FX Open

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Popular comparisons feat. IG

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IG vs CMC Markets
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IG vs Core Spreads

FXPro or FX Open?

A wide range of instruments or low spreads?

If you’re a trader looking for a broker that offers a wide variety of instruments to trade, FXPro is likely the better option out of these brokers. However, if you want a broker with lower spreads on currency pairs like EUR/USD, FX Open may be more appropriate.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider FXPro to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

FXPro is regulated by Financial Conduct Authority, CySEC, FSB, DFSA and SCB, while FX Open is regulated by Financial Conduct Authority and ASIC.

As the Financial Conduct Authority are one of the most stringent regulators in the world, both FXPro and FX Open will have very strict guidelines to follow to ensure they protect their retail trader clients.

IG are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

FXPro has been around for 13 years, while FX Open have been around for 14 years. Our third alternative broker, IG, have been around for 45 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both FXPro and FX Open use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on FXPro or FX Open in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both FXPro and FX Open are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

FXPro are based in London, UK, while FX Open are based in Level 3, 187 Queen Street, Cbd, Auckland, 1010.

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both FXPro and FX Open offer forex trading. FXPro have a slightly larger variety of currency pairs with 75 pairs, compared to 50 offered by FX Open. Also, if you’re looking to trade cryptocurrencies, FXPro offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

Both FXPro and FX Open allow you to trade commodities like gold, silver and crude oil.

FX Open also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both FXPro and FX Open offer this. FXPro also offer the new & improved MT5 platform. Our alternative broker, IG, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. FXPro, for example, offer a mini account, standard account and VIP account.

For Muslim traders, FXPro offers an Islamic account, which doesn’t accrue interest or incur/receive rollover swap points, as this is prohibited in Shariah law. You can learn more & compare Islamic trading accounts head-to-head here.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

FXPro does allow scalping and hedging. While FX Open also allows scalping and hedging. You can trade with EAs (expert advisors) on both FXPro and FX Open.

In terms of risk management tools, both brokers offer negative balance protection to prevent you owing your broker more than you’ve deposited.

FXPro also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

FXPro accept Paypal while FX Open accept Neteller.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, FXPro and FX Open both charge 0.00 points. Therefore, both brokers are equally affordable for this instrument. You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: FXPro or FX Open?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, FXPro is more reliable based on our criteria above. FXPro has a wider range of instruments to trade. FXPro offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Most brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.