FXOpen vs Deriv - Which Forex/CFD broker has better trading conditions?
Comparing the services of FXOpen and Deriv. Which Forex broker has a better condition for traders?
FXOpen, established in 2005, offers platforms like MetaTrader 4 and 5, TickTrader, and TradingView. They have a strong focus on MetaTrader integration, Bitcoin trading, and offer PAMM technology. They’re known for their ECN model, partnerships with Tier 1 banks, and a security-centric approach.
Deriv, with over 22 years of history, provides platforms like MT5, DerivX, and SmartTrader. They stand out with their synthetic indices and prioritize accessibility, innovation, and transparency. With a global clientele, Deriv upholds values of integrity and client focus, ensuring a customized trading experience for users.
When comparing the two, FXOpen emphasizes platform variety and its ECN model, while Deriv highlights its unique synthetic indices and wide platform range. Both brokers cater to seven financial markets, including forex and cryptocurrencies, and provide 24-hour trading options. FXOpen leans towards tight spreads and commission charges, whereas Deriv offers low spreads with no commission and higher leverage. Both prioritize negative balance protection and provide swap-free accounts, with FXOpen catering specifically to Islamic traders. Deposits and withdrawals are flexible with both, but FXOpen has a more detailed fee structure, and Deriv emphasizes transaction speed and security.
FXOpen vs Deriv – Which is better?
When choosing a broker, it’s essential to delve deep into their offerings to make an informed decision. Here’s a comprehensive comparison between FXOpen and Deriv based on the detailed information provided:
1. Trading Platforms
FXOpen: It offers an array of platforms, including MetaTrader 4, MetaTrader 5, TickTrader, and TradingView. These platforms are known for their advanced charting tools, automated trading capabilities, and compatibility with various plugins and scripts.
Deriv: With a diverse platform lineup, Deriv offers MT5, DerivX, Deriv EZ, Deriv GO, Deriv Trader, and SmartTrader. Each of these platforms serves a specific purpose, catering to both beginners and experienced traders.
2. Web Trading
FXOpen: FXOpen’s Web Terminals support all modern web-browsers and operating systems, including Mac OS and Linux. This negates the need to download and install any additional trading software.
Deriv: All of Deriv’s platforms are web-accessible, providing an easy and convenient approach for traders without the hassle of installing software.
3. Mobile Trading
FXOpen: FXOpen offers mobile applications for MT4 and MT5. The TickTrader Mobile Terminal further supports mobile Forex and Exchange trading, with real-time market data, economic news, and market analysis functionalities.
Deriv: The highlight of Deriv’s mobile trading is the “Deriv GO” app, optimized for trading on-the-move. It allows trading on forex, derived indices, and cryptocurrencies, presenting charts and other functionalities seamlessly.
4. Markets and Offerings
Both brokers provide access to 7 financial markets. Here’s a breakdown:
Forex: FXOpen offers more than 50 forex markets and is recognized as a true ECN broker. Deriv, on the other hand, allows CFDs trading with high leverage.
Cryptocurrencies: Both platforms allow crypto trading. FXOpen has a specialized crypto trading platform, whereas Deriv provides opportunities to profit from popular cryptocurrencies.
Stock CFDs: FXOpen provides the option to buy or sell shares online in some of the world’s largest companies. Deriv lets traders access global stocks of renowned brands and international stock market indices.
Commodities, Precious Metals, and Energies: Both brokers offer trading in these sectors. FXOpen emphasizes the benefits of its ECN broker model, while Deriv offers competitive spreads and leverages.
Equity Indices and ETFs: Both platforms provide opportunities to trade global indices. FXOpen touts zero commission, while Deriv underscores its diversity and competitive pricing.
Synthetic Indices: Only available with Deriv, these indices simulate real-world market movements, offering 24/7 trading.
5. Cost and Leverage
FXOpen: It offers spreads from 0.0 pips and charges commissions ranging from $1.50 to $3.50 per lot for ECN accounts. They offer a leverage of up to 1:500.
Deriv: Known for tight spreads as low as 0.5 pips, Deriv stands out by not charging commission. The maximum leverage they offer is up to 1:1000.
6. Account Protection and Policies
Both brokers support Negative Balance Protection, ensuring traders cannot lose more than their deposits. Margin call and stop-out policies are also similar, triggered when the margin level drops below 100%.
7. Swap-Free Accounts
FXOpen: Offers swap-free Islamic accounts compliant with Sharia laws. However, they don’t provide a swap-free account for everyone.
Deriv: They offer a swap-free account, both for Islamic traders and everyone else, allowing traders to maintain overnight positions without additional charges.
8. Trading Hours and Extras
FXOpen: Markets are open 24 hours a day. They also conduct Forex trading contests, offering real-money prizes.
Deriv: Provides 24/5 trading, emphasizing synthetic indices and cryptocurrencies that are tradable 24/7.
9. Deposit and Withdrawal
Both brokers offer a variety of deposit and withdrawal methods, including cryptocurrencies. FXOpen has a detailed fee structure for different methods, while Deriv promotes fast and secure deposit and withdrawal options.
In conclusion, both FXOpen and Deriv have their unique strengths and offerings. While FXOpen emphasizes its ECN model and variety in platforms, Deriv boasts a wide range of platforms and emphasis on synthetic indices. Traders must assess individual needs and preferences when choosing between these two brokers.
Are you interested in trading with FXOpen?
| ECN | STP | CRYPTO | MICRO | |
|---|---|---|---|---|
| Business Model | ECN | STP | ECN | MM |
| Minimum Deposit | from $100 | from $10 | from $10 | from $1 |
| Maximum Balance | without limitations | without limitations | without limitations | $3,000 |
| Spread | floating, from 0 pips | floating | floating | floating |
| Commission (per 1 mio) | from $15 | No | 0.5% of trade volume round turn | No |
| Execution | market | market | market | instant |
| Requotes/Slippage | No/Yes | No/Yes | No/Yes | Yes/No |
| Minimum Transaction Size | 0.01 lots | 0.01 lots | 0.01 lots | 0.01 microlots |
| Maximum Transaction Size | without limitations | without limitations | without limitations | $1,000,000 |
| Open Trades Max | not limited* | not limited* | not limited* | up to 100 trades open at the same time |
| Leverage | up to 1:500 | up to 1:500 | 1:3 | up to 1:500 |
| Margin Call | 100% | 50% | 30% | 20% |
| Stop Out | 50% | 30% | 15% | 10% |
| Demo Accounts | Yes | Yes | Yes | No |
| Islamic Accounts | Yes | Yes | No | Yes |
| Instruments | 50+ FX Spot CFDs 25+ Cryptocurrency CFDs Shares CFDs Index CFDs Spot Metals CFDs Commodity CFDs |
50 currency pairs + gold and silver | 43 pairs with BTC, LTC, EOS, PPC, ETH, DASH, EMC | 28 currency pairs + gold and silver |
| Bonuses | No | Yes | No | Yes |
| Hedging | Yes | Yes | Yes | Yes |
| Expert Advisors | Yes | Yes | Yes | Yes |
| Scalping | Yes | Yes | Yes | No |
| News Trading | Yes | Yes | Yes | No |
| Phone Dealing | Yes | Yes | Yes | No |
| Market Depth with Level 2 Quotes | Yes | Yes | Yes | No |
| Sign Up | Open ECN Account | Open STP Account | Open CRYPTO Account | Open MICRO Account |
Founded in 2005, FXOpen has swiftly risen through the ranks to become one of the leading and most rapidly expanding Forex brokers worldwide. The essence of FXOpen’s success lies in its dedication to traders. Established by a group of experienced traders, FXOpen prioritizes the interests of those who use its platform.
Through many years in the forex sector, FXOpen has accumulated vast knowledge. This is not just about the strategies that lead to success, but also understanding the potential hurdles that traders might face. With transparency and commitment, FXOpen has always been eager to share its expertise with its clientele to elevate their trading journeys.
Key Features of FXOpen’s Model
Innovative Integration with MetaTrader 4: FXOpen was a trailblazer in providing its clients ECN trading via the MetaTrader 4 terminal. With its proprietary price aggregation technology, traders can take advantage of highly competitive spreads and reduced trading commissions.
- Bitcoin Trading Pioneer: Back in 2014, FXOpen once again showcased its innovative prowess by offering both retail and B2B clients the opportunity to trade Bitcoin.
- Account Variety: Whether you’re a novice or an expert, FXOpen has an account for you. Choose from STP, Micro, ECN, or even free unlimited demo accounts. With the Myfxbook automated trading system, traders can further enhance their trading acumen.
- PAMM Technology: For those who wish to leverage the expertise of seasoned traders, FXOpen offers its unique PAMM technology. This ensures automatic distribution of profit and loss between strategy providers and followers.
- Support for Islamic Traders: Reflecting its inclusivity, FXOpen provides SWAP-free accounts allowing Islamic traders to engage in Forex trading in line with Sharia law.
Unmatched Liquidity with FXOpen
At the heart of any successful trading platform lies robust liquidity. FXOpen has forged strong ties with a plethora of Tier 1 banks and non-bank liquidity providers. This not only ensures the tightest spreads but also facilitates smooth and seamless trades.
Why Choose FXOpen?
- Forefront in Cryptocurrency Trading: Be it Bitcoin, Litecoin, Ethereum, or other popular cryptocurrencies, FXOpen offers pioneering platforms for crypto trading.
- Tailored Trading Accounts: From ECN, STP, Crypto to Micro, there’s an account for every trader’s need.
- Industry-leading Spreads: Experience trading with spreads starting from a groundbreaking 0 pips.
- Minimal Deposits: Begin your trading journey with deposits starting from just $1.
- Cutting-edge ECN Technology: Benefit from the most advanced price aggregating ECN technology in the market.
- Empowering Leverage: With up to 1:500 leverage, maximize your trading potential.
- Diverse Payment Options: With a myriad of fast and secure payment options, funding your account is more convenient than ever.
- Extensive Regional Presence: With a vast network of regional offices, FXOpen’s global footprint ensures its accessibility to traders worldwide.
Tools and Resources at FXOpen
- Stay Updated: With up-to-date economic news, in-depth market analyses, and a comprehensive Forex calendar, you’re always in the loop.
- Detailed Account Statements: Keep track of your trading journey with daily and monthly account statements.
- True ECN Model: Gain direct access to the Interbank market, ensuring instantaneous and error-free order execution.
- Equal Trading Rights: With FXOpen’s ECN, all participants, regardless of their capital, enjoy equal rights in order execution and can act as both Liquidity Providers and Receivers.
Platform Diversity at FXOpen
From the globally acclaimed MetaTrader 4 and 5 to the novel TickTrader, FXOpen ensures that traders have access to the most advanced trading platforms. With a focus on technological innovation and a seamless user experience, these platforms are designed to suit traders of all skill levels.
FXOpen’s Collaboration with TradingView
Pairing with TradingView, FXOpen offers an unmatched trading experience. Enjoy intuitive charts, timely alerts, and instant order execution. The active community on TradingView further ensures that traders have access to unbiased decision-making tools and scripts.
Trade with the TradingView Chart
Trust and Security with FXOpen
FXOpen isn’t just about providing world-class trading facilities. The security of the personal and financial information of its clients is paramount. This commitment to trust and reliability, coupled with cutting-edge technology, makes FXOpen a preferred choice for traders globally.
In conclusion, if you’re seeking a trading partner that’s dedicated to your success, offers the most advanced tools, and operates with transparency and trust, FXOpen is your go-to destination. Experience the future of trading with FXOpen today.
Are you interested in trading with Deriv?
In today’s fast-paced digital world, Deriv stands out as a beacon of excellence in online trading services.
Who is Deriv?
Deriv isn’t just any online broker – it’s among the largest and most reputable ones globally. With more than 22 years of experience in the world of online trading, Deriv’s roots trace back to the Deriv Group, which laid the groundwork in 1999 for the world’s first fixed-odds trading service. Today, Deriv has expanded its operations, offering CFDs and derivatives on an array of assets ranging from forex, stocks & indices, cryptocurrencies, to commodities, and more.
Innovation and Evolution
From its inception, Deriv was designed to challenge the status quo. Traditional brokers often come with high commissions and less user-friendly platforms. Deriv’s objective was to break these barriers. Their mission is clear: Make trading accessible to everyone, everywhere, irrespective of their account size. Today, with over 2.5 million customers globally, it’s clear that they are on the right track.
Deriv’s Core Values are:
- Integrity: True to its promise, Deriv provides services with utmost transparency and fairness. Every contract is settled by the book, ensuring all communications are direct and honest.
- Customer Focus: Prioritizing customers at every step, Deriv continuously innovates its products to enhance the user experience.
- Competence: The value Deriv places on continual learning and growth is evident in their team members. Employees are encouraged to exercise sound judgement, ensuring the company remains ahead in the ever-evolving financial markets.
- Teamwork: An organization is as good as its team. Deriv fosters an environment of collaboration across departments, valuing humility and ambition equally.
Principles that Guide Their Path
Deriv believes in being:
- Reliable: From settling contracts to processing transactions, Deriv assures reliability at every stage.
- Fair: Every customer is treated equitably, ensuring no hidden costs and maintaining transparency in every transaction.
- Transparent: Clarity in communication is crucial. Deriv ensures all terms of contracts are disclosed, keeping customers informed about potential trading risks.
- Responsible: Steering clear of hard-selling and not promising guaranteed returns, Deriv operates with the highest ethical standards.
Why Deriv is the Ideal Choice for Traders:
- Track Record: With a lineage tracing back to 1999, Deriv has consistently proven its mettle in the world of online trading.
- Regulations: Deriv operates under the guidance of multiple regulatory authorities including the Malta Financial Services Authority (MFSA), the Labuan Financial Services Authority, and more.
- Client Money Protection: Deriv’s policy ensures that clients’ funds are segregated, stored in secure financial institutions, assuring clients of their fund’s safety.
And this is just the tip of the iceberg. Deriv offers myriad trading platforms like Deriv MT5, Deriv X, Deriv EZ, and Deriv GO, each tailored to provide unique trading experiences.
If you’re seeking a platform that combines decades of experience with modern, user-friendly interfaces, Deriv is the answer. With its core values and guiding principles, Deriv ensures a seamless and trustworthy trading experience.
Whether you’re a seasoned trader or a newbie looking to dip your toes into the world of online trading, Deriv promises a platform that’s both intuitive and reliable. So, why wait? Dive into the world of trading with Deriv and explore a realm of endless possibilities!
FAQs to summarize the article
- What trading platforms does FXOpen offer?
- FXOpen offers platforms such as MetaTrader 4, MetaTrader 5, TickTrader, and TradingView.
- Which trading platforms are provided by Deriv?
- Deriv offers MT5, DerivX, Deriv EZ, Deriv GO, Deriv Trader, and SmartTrader.
- Is web trading available with FXOpen and Deriv?
- Yes, FXOpen’s Web Terminals are compatible with modern web-browsers, while all of Deriv’s platforms are web-accessible.
- Do both brokers offer mobile trading options?
- FXOpen provides mobile apps for MT4 and MT5, and a TickTrader Mobile Terminal. Deriv features the “Deriv GO” app for mobile trading.
- Which markets can traders access with FXOpen and Deriv?
- Both brokers grant access to 7 financial markets including forex, cryptocurrencies, stock CFDs, commodities, precious metals, energies, equity indices, and ETFs. Only Deriv offers synthetic indices.
- How do FXOpen and Deriv differ in terms of cost and leverage?
- FXOpen offers spreads from 0.0 pips with a commission for ECN accounts and leverage up to 1:500. Deriv has spreads as low as 0.5 pips, no commission, and leverage up to 1:1000.
- Do they provide account protection?
- Yes, both FXOpen and Deriv support Negative Balance Protection, ensuring traders can’t lose more than their deposits.
- What are swap-free accounts and do both brokers offer them?
- Swap-free accounts allow traders to maintain positions overnight without extra charges. FXOpen provides them only for Islamic traders, while Deriv offers them to everyone.
- When can traders trade with these brokers?
- Markets on FXOpen are open 24 hours a day, while Deriv offers 24/5 trading, with synthetic indices and cryptocurrencies available 24/7.
- What are the deposit and withdrawal methods available?
- Both brokers support multiple deposit and withdrawal methods, including cryptocurrencies. FXOpen has detailed fees for each method, while Deriv emphasizes speed and security.
- How long has Deriv been in the online trading business?
- Deriv, stemming from the Deriv Group, has over 22 years of experience in online trading.
- What are the key features of FXOpen’s model?
- FXOpen integrates with MetaTrader 4 for ECN trading, introduced Bitcoin trading in 2014, offers diverse account types, PAMM technology, and support for Islamic traders.
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