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Do you want to know which is the better broker between FXOpen and INFINOX ?
In the table below, you can compare the features of FXOpen , INFINOX side by side to determine the best fit for your needs.
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of fxopen, infinox lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Registered in | Cyprus |
Regulated by | CYSEC |
Year(s) of establishment | 5-10 years |
Trading instruments | Currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks |
Minimum Initial Deposit | $300 |
Maximum Leverage | 1:30 |
Minimum spread | 0.0 pips onwards |
Trading platform | MT4, MT5, own platform TickTrader |
Deposit and withdrawal method | Bank Wire Transfer, Credit Card |
Customer Service | Email/phone number/address/live chat |
Fraud Complaints Exposure | No for now |
General information and regulations of FXOpen
FXOpen is a trading name of FXOpen EU Ltd. FXOpen EU Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 194/13. FXOpen offers retail and professional trading available markets including forex instruments, indices, commodities, shares through popular MT4 & MT5 trading platform.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on.
At the end of the article, we will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.
Market instruments
Currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks.....FXOpen allows clients to access a huge range of trading markets. Therefore, both beginners and experienced traders can find what they want to trade on FXOpen.
Spreads and commissions for trading with FXOpen
The spreads and commissions depend on instruments and accounts. Only ECN account has a commission of 1.5 USD, and its spreads level is also lower.
Account Types for FXOpen
Demo Account: FXOpen provides a demo account that allows you to try out the financial markets without the risk of losing money.
Live Account: FXOpen offers a total of 2 account types: Beginner, Trader, Expert and VIP. The minimum deposit to open both accounts is 300 USD o EUR. Their major differences consist in the business model, spreads, commissions and the access to the markets. The ECN account has a commission of 1.5 USD and a wider range of market access.
Trading platforms offered by FXOpen
As for the trading platform, FXOpen provides its clients with many options. There are public platforms such as MT5 and MT4 that have served many clients worldwide, also FXOpen's own platform TickTrader. If you didn't want to spend time familiarizing yourself with a new platform, you could choose MT5 and MT4. But FXOpen's own platform provides better compatibility with businesses, as they are specially developed and customized platforms. The choice is yours.
Leverage offered by FXOpen
The maximum leverage offered by FXOpen is only 1:30, which may seem too low to you. In reality, those leverage of up to 1:500 or even 1:1000 are all from unregulated or offshore regulated brokers, and as we know, offshore regulation is much less strict regulation. For brokers that are formally regulated by the major regulatory bodies, they can only offer leverage of 1:30 or 1:50 at best, which is sufficient for the novice Forex trader. Lower leverage reduces the potential gains on trades, but more importantly, it reduces much of the risk. We recommend that you always keep your account risk at 2% or less.
Deposit and withdrawal methods and fees
In terms of deposit and withdrawal, like many good brokers, FXOpen provides a detailed form with important information about currency, payment method, minimum amount, arrival date, fees, etc. The feasible payment methods are
We noted that for withdrawals with bank transfer, there is a commission of 30 USD/15 GBP/15 USD.
Educational resources
A series of educational resources is available at FXOpen, such as margin and pip value calculator, economic calendar, market news, market pulse, basic knowledge, etcetera.
Customer support of FXOpen
Below are the details about the customer service.
Language(s): English, French, German, Italian, Spanish, Turkish, Chinese, Portuguese, Russian, etcetera.
Service Hours: 9am-8pm (Eastern European Time)
Email: support@fxopen.eu
Phone Number: +357 25024000
Address: 38 Spyrou Kyprianou Street, CCS BLDG - Office N101, 4154 Limassol, Cyprus
Social media: Facebook, Instagram, LinkedIn, YouTube, twitter, telegram
Users exposures on WikiFX
We have not received any reports of fraudulent activity at this time. However, this does not necessarily mean that this broker is safe and you should remain vigilant to prevent being scammed.
Advantages and disadvantages of FXOpen
Advantages:
Well regulated
MT4, MT5
Sufficient information
Educational resources
Many instruments available
Demo account
Negative balance protection
Disadvantages:
Deposit and withdrawal fees
No copy trading
Frequent asked questions about FXOpen
Is this broker well regulated?
Yes, it is currently effectively regulated by CYSEC in Cyprus.
How much leverage does this broker offer?
The maximum leverage of FXOpen is 1:30. Please note that this leverage may only be available for some accounts and products. Please consult our articles or the dealer's website for specific information.
General Information & Regulation
This Infinox says it is a forex broker registered in UK, offering trading in forex currency pairs, indices, equities, commodities, and futures. This Infinox is a clone firm which traders should stay away from.
Markets Instruments
Infinox offers five main asset classes:
Forex – Trade 50 of the most popular currency pairs, including AUD/USD, EUR/USD, and EUR/GBP
Indices – Trade on some of the worlds largest indices, including the FTSE100 and DAX40
Commodities – Trade on hard and soft commodities such as gold, silver, and oil
Equities CFDs – Buy and sell stocks in the worlds biggest companies, including Google and Facebook
Futures – Trade on futures with real-time Direct Market Access (DMA)
Minimum Deposit
There are three account types to choose from at Infinox. For the STP/ECN accounts, the minimum deposit is just £1 (or EUR/USD/AUD) and for the futures CQG account, the minimum deposit is $5,000.
Leverage
Leverage for forex, commodities, and indices ranges from 1:10 and 1:30. Leverage is capped due to ESMA regulations, but still provides enough flexibility for traders to substantially increase their positions
Spreads & Commissions
Typical spreads on major currency pairs start at 0.3 pips for EUR/USD, 0.5 pips for GBP/USD, and 0.8 for EUR/GBP. For indices like the FTSE 100, typical spreads are 100 points and for commodities, spreads are 22 for gold and 27 for silver. Commissions are variable on equity CFDs and futures. Details of specific commission charges can be found on the brokers website, but generally, charges are 3.5 for futures and 0.10% for equity CFDs.
Trading Platform Available
Infinox is an unregulated broker, it offers the counterfeit MT4 trading platform where trading on it is full of risks.
Deposit & Withdrawal
Deposits and withdrawals can be made via debit/credit card, Skrill, Neteller, or bank transfer. Infinox does not charge for deposits, however, there may be intermediary fees.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive fxopen and infinox are, we first considered common fees for standard accounts. On fxopen, the average spread for the EUR/USD currency pair is -- pips, while on infinox the spread is --.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
fxopen is regulated by CYSEC. infinox is regulated by FCA.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
fxopen provides trading platform including STP,ECN and trading variety including --. infinox provides trading platform including -- and trading variety including --.