fx open
Virtual Brokers
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Overview
fx open was founded in 2019 and is headquartered in Puerto Rico, while Virtual Brokers was established in 2008 and is based in Canada. fx open holds licences including Financial Conduct Authority (FCA), while Virtual Brokers is regulated by The Investment Industry Regulatory Organization of Canada (IIROC) among others. fx open serves 60,000+ clients worldwide; Virtual Brokers has 10,000+. The minimum deposit is $250 at fx open and $1000 at Virtual Brokers.
| Feature | fx open | Virtual Brokers |
|---|---|---|
| Min. Deposit | $250 | $1000 |
| 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 | The Investment Industry Regulatory Organization of Canada (IIROC), Canadian Investor Protection Fund (CIPF) |
| Founded | 2019 | 2008 |
| Country | Puerto Rico | Canada |
| Clients | 60,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between fx open and Virtual Brokers, directly affecting your bottom line as a trader. Virtual Brokers has a lower barrier to entry with a minimum deposit of $1000 (vs $250 at fx open). Virtual Brokers charges withdrawal fees while fx open does not, giving fx open an edge for frequent withdrawers. Virtual Brokers charges deposit fees; fx open does not. Overall, fx open scores higher on fees in our assessment.
| Feature | fx open | Virtual Brokers |
|---|---|---|
| Min. Deposit | $250 | $1000 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
fx open offers MT4, MT5, cTrader, while Virtual Brokers supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Virtual Brokers supports social and copy trading features, which fx open does not offer. The two brokers are closely matched on platform offering.
| Feature | fx open | Virtual Brokers |
|---|---|---|
| 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 | MT4,Desktop,iPhone/iOS |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how fx open and Virtual Brokers compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. Virtual Brokers scores higher overall in education and research.
| Feature | fx open | Virtual Brokers |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| 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 Virtual Brokers 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 | Virtual Brokers |
|---|---|---|
| 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 Virtual Brokers offer live chat support. Both provide phone support. Email support is available at both brokers. fx open supports 8 languages and Virtual Brokers supports 2, giving fx open broader global reach. Both brokers are comparable on support quality.
| Feature | fx open | Virtual Brokers |
|---|---|---|
| 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 |