fx open
Xtrade
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Overview
fx open was founded in 2019 and is headquartered in Puerto Rico, while Xtrade was established in 2003 and is based in Australia. fx open holds licences including Financial Conduct Authority (FCA), while Xtrade is regulated by Cyprus Securities and Exchange Commission (CySEC) among others. fx open serves 60,000+ clients worldwide; Xtrade has 10,000+. The minimum deposit is $250 at fx open and $1 at Xtrade.
| Feature | fx open | Xtrade |
|---|---|---|
| Min. Deposit | $250 | $1 |
| 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 | Cyprus Securities and Exchange Commission (CySEC) |
| Founded | 2019 | 2003 |
| Country | Puerto Rico | Australia |
| Clients | 60,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between fx open and Xtrade, directly affecting your bottom line as a trader. Xtrade has a lower barrier to entry with a minimum deposit of $1 (vs $250 at fx open). Neither broker charges withdrawal fees. Xtrade charges deposit fees; fx open does not. Overall, Xtrade scores higher on fees in our assessment.
| Feature | fx open | Xtrade |
|---|---|---|
| Min. Deposit | $250 | $1 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | Yes |
Platforms
fx open offers MT4, MT5, cTrader, while Xtrade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. The two brokers are closely matched on platform offering.
| Feature | fx open | Xtrade |
|---|---|---|
| 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 | Not available |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how fx open and Xtrade compare. fx open runs regular live webinars; Xtrade does not. fx open has a video library; Xtrade does not. fx open publishes daily market commentary; Xtrade does not. fx open integrates third-party research tools (Trading Central); Xtrade does not. fx open maintains an archive of past webinars for on-demand viewing. fx open scores higher overall in education and research.
| Feature | fx open | Xtrade |
|---|---|---|
| Forex Education | No | No |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | No | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. fx open uniquely supports bank transfer and credit/debit card and PayPal and Skrill and Neteller among the two brokers. fx open scores higher on deposit and withdrawal flexibility.
| Feature | fx open | Xtrade |
|---|---|---|
| Bank Transfer | Yes | Not available |
| Credit Card | Yes | Not available |
| PayPal | Yes | Not available |
| Skrill | Yes | Not available |
| Neteller | Yes | Not available |
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 Xtrade offer live chat support. Both provide phone support. Email support is available at both brokers. fx open offers multilingual support. Both brokers are comparable on support quality.
| Feature | fx open | Xtrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic | Not available |