TeraFX vs FXOpen
TeraFX or FXOpen – which is better for UK traders 2024? Compare TeraFX and FXOpen in this detailed breakdown of their platforms, features and fees.
TeraFX | FXOpen |
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TeraFX is ranked #97 among CFD brokers. | FXOpen is ranked #72 among CFD brokers. |
TeraFX is a London-based forex and CFD broker regulated by the FCA. The broker offers NDD market execution on a small range of instruments across currencies, indices and commodities. TeraFX prides itself on its multilingual 24/5 customer service, with client security in mind. Traders can access a range of account types, suitable for novices and pros alike. | FXOpen is a multi-asset broker with regulation from several trustworthy bodies including the UK's FCA. The broker offers CFD trading on forex, stocks, commodities, indices, cryptocurrencies and ETFs via the MetaTrader 4 & 5 and TradingView platforms. |
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Cons | |
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Awards | |
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FCA Regulated | |
Yes | Yes |
Instruments | |
Forex, CFDs, indices, commodities, cryptocurrencies | Forex, CFDs, Indices, Commodities, Cryptocurrencies, ETFs, Shares |
Demo Account | |
Yes | Yes |
Minimum Deposit | |
$100 | £300 |
Payment Methods | |
Minimum Trade | |
0.01 Lots | 0.01 Lots |
Regulator | |
FCA | FCA, CySEC, ASIC |
Mobile Apps | |
Yes | iOS & Android |
iOS App Rating | |
Android App Rating | |
Margin Trading | |
No | Yes |
MetaTrader 4 | |
Yes | Yes |
MetaTrader 5 | |
No | Yes |
cTrader | |
No | No |
AlgoTrader | |
No | No |
OmniTrader | |
No | No |
TradingView | |
No | Yes |
Autochartist | |
No | No |
eSignal | |
No | No |
Trading Central | |
No | No |
STP Account | |
No | Yes |
ECN Account | |
Yes | Yes |
DMA Account | |
No | No |
MAM Account | |
No | No |
PAMM Account | |
No | Yes |
LAMM Account | |
No | No |
Demat Account | |
No | No |
AI / Machine Learning | |
No | No |
Robo Advisor | |
No | No |
Negative Balance Protection | |
No | Yes |
Market Maker | |
No | No |
P2P Trading | |
No | No |
Spot Trading | |
No | No |
Auto Trading | |
Yes | Expert Advisors (EAs) on MetaTrader |
Copy Trading | |
No | Yes |
Copy Trading Platform | |
FXOpen offers copy trading, enabling users to follow and copy the positions and strategies of other traders. Myfxbook and ZuluTrade are supported, two of the highest-rated and easiest to use third-party copy trading platforms on the market. | |
Social Trading | |
No | Yes |
Trade Signals | |
Yes | |
VPS Hosting | |
No | Yes |
Tournaments | |
No | Yes |
Demo Competitions | |
No | Yes |
Ethical Investing | |
No | No |
Custodial Account | |
No | No |
Guaranteed Stop Loss | |
No | No |
Inactivity Fee | |
$10 | |
Islamic Account | |
Yes | Yes |
Account Currencies | |
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Commodities | |
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CFD | |
Access a range of CFDs across commodities and indices, though with a $7 commission, this is not the most competitive rate compared to alternatives. On the positive side, the broker does offer appropriate and regulated leverage up to 1:30. | FXOpen offers CFDs on multiple assets including forex, stocks, commodities, indices, cryptocurrencies and ETFs. Leverage and spreads vary by instrument, with spreads starting from zero and fast order execution. |
Leverage | |
1:30 (Retail), 1:200 (Pro) | 1:30 (EU), 1:500 (Global) |
FTSE Spread | |
Floating | 0.8 |
GBPUSD Spread< | |
Floating | 0.2 |
Oil Spread | |
Floating | 4.0 |
Stocks Spread | |
N/A | N/A |
Forex | |
Trade 60+ currency pairs on the MT4 platform with low margin requirements. Traders can access the forex market from Sunday through to Friday with 24/5 broker support. | FXOpen clients can trade 50+ forex pairs (28 on micro accounts) with leverage up to 1:30. Fees are competitive with spreads starting from zero with a small commission on ECN accounts, and slightly wider spreads and no commission on STP accounts. |
Assets | |
59 | 50+ |
GBPUSD Spread | |
Floating | 0.2 |
EURUSD Spread | |
Floating | 0.2 |
EURGBP Spread | |
Floating | 0.2 |
Cryptocurrency | |
FXOpen offers CFDs on 40 cryptocurrency pairs, including cross-pairs with BTC as well as pairs with various fiat currencies such as GBP, USD and JPY. Crypto CFDs are tradeable with leverage of 1:2. Only pro traders can access crypto derivatives in the UK. | |
Spread | |
Trade top crypto pairs on MT4. | Variable |
Coins | |
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Crypto Lending | |
No | No |
Crypto Mining | |
No | No |
Crypto Staking | |
No | No |
Auto Market Maker | |
No | No |
TeraFX | FXOpen |
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