fx open
SpreadCo
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Overview
fx open was founded in 2019 and is headquartered in Puerto Rico, while SpreadCo was established in 2005 and is based in London. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. fx open serves 60,000+ clients worldwide; SpreadCo has 10,000+. The minimum deposit is $250 at fx open and $100 at SpreadCo.
| Feature | fx open | SpreadCo |
|---|---|---|
| Min. Deposit | $250 | $100 |
| Regulation | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F238 | Financial Conduct Authority (FCA) |
| Founded | 2019 | 2005 |
| Country | Puerto Rico | London |
| Clients | 60,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between fx open and SpreadCo, directly affecting your bottom line as a trader. SpreadCo has a lower barrier to entry with a minimum deposit of $100 (vs $250 at fx open). SpreadCo charges withdrawal fees while fx open does not, giving fx open an edge for frequent withdrawers. SpreadCo charges deposit fees; fx open does not. Overall, SpreadCo scores higher on fees in our assessment.
| Feature | fx open | SpreadCo |
|---|---|---|
| Min. Deposit | $250 | $100 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | Yes |
Platforms
fx open offers MT4, MT5, cTrader, while SpreadCo supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. SpreadCo supports social and copy trading features, which fx open does not offer. The two brokers are closely matched on platform offering.
| Feature | fx open | SpreadCo |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how fx open and SpreadCo compare. fx open runs regular live webinars; SpreadCo does not. Both provide video tutorials. fx open publishes daily market commentary; SpreadCo does not. Both integrate third-party research tools. fx open maintains an archive of past webinars for on-demand viewing. fx open scores higher overall in education and research.
| Feature | fx open | SpreadCo |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. fx open accepts 5 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Skrill, Neteller), while SpreadCo supports 2 (bank transfer, credit/debit card). fx open uniquely supports PayPal and Skrill and Neteller among the two brokers. fx open scores higher on deposit and withdrawal flexibility.
| Feature | fx open | SpreadCo |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | No |
| Skrill | Yes | No |
| Neteller | Yes | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both fx open and SpreadCo offer live chat support. Both provide phone support. Email support is available at both brokers. fx open supports 8 languages and SpreadCo supports 2, giving fx open broader global reach. Both brokers are comparable on support quality.
| Feature | fx open | SpreadCo |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic | English, and Chinese |