FXOpen vs FXGT.com 2024

FXOpen is not a publicly traded company, does not operate a bank, and is authorised by three Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). FXOpen is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and and regulated in the European Union via the MiFID passporting system.

FXGT.com is not publicly traded, does not operate a bank, and is authorised by one Tier-1 regulator (Highly Trusted), one Tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and two Tier-4 regulators (High Risk). FXGT.com is regulated in the European Union via the MiFID passporting system.

FXOpen is a long standing MetaTrader broker with a narrow offering and few benefits beyond a standard MetaTrader experience coupled with social-trading platforms ZuluTrade and Myfxbook.

FXGT.com is a plain vanilla MetaTrader-only broker offering a narrow range of markets alongside a decent number of crypto CFDs and platform plugins. This broker lacks robust market research and educational resources beyond a few ebooks and some basic sentiment data. FXGT.com’s small number of regulatory licenses brings down its overall Trust Score. It’s also worth noting that, though FXGT.com is regulated in the EU, retail clients are not accepted in that region.

To open a trading account with FXOpen, you'll need to make an initial minimum deposit of $100.

FXGT.com requires a minimum deposit of $5 before you can open an account and start trading.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. FXOpen offers Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw) for banking, whereas FXGT.com provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw) and Neteller (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw).

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that FXOpen offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that FXOpen holds 3 global Tier-1 licenses, while FXGT.com holds 1. FXGT.com holds 1 global Tier-2 licenses, while FXOpen holds 0.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that FXOpen (80) earned a higher Trust Score than FXGT.com (69).

To compare the trading platforms of both FXOpen and FXGT.com, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, FXOpen offers a better experience. With research, FXGT.com offers superior market research. Finally, we found FXOpen to provide better mobile trading apps.

Here’s what trading platforms are available at FXOpen:

• Proprietary Platform - No
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - Yes
• TradingView - No

Here’s what trading platforms are available at FXGT.com:

• Proprietary Platform - No
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - No
• TradingView - No

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Both FXOpen and FXGT.com offer MetaTrader 4 (MT4). Forex traders also appreciate the ability to engage in social copy trading. FXOpen and FXGT.com both offer copy trading.

FXGT.com provides traders 53 currency pairs (e.g., EUR/USD) compared to FXOpen's 25 available pairs. If you are interested in trading CFDs, FXGT.com offers traders access to 117 CFDs, while FXOpen offers access to 87 CFDs; so FXGT.com offers 30 more CFDs than FXOpen.

We found in our testing that FXGT.com offers a more diverse selection of investment options than FXOpen, allowing you to trade both brokers allow traders to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Cryptocurrency (Derivative) and Social Trading / Copy Trading. Neither have Int'l Stock Trading (Non CFD), Cryptocurrency (Physical) and Spread Betting.