Deriv vs FXOpen - Fees Review included
Which broker is better Deriv or FXOpen? Our expert assessment conducted according to TU’s own methodology showed that Deriv is one of the top brokers in the financial market with the TU Overall Score of 8.42 out of 10. FXOpen is one of the top brokers in the financial market with the TU Overall Score of 6.33 out of 10. Find out more about TU Overall Score.
| Feature | Deriv | FXOpen |
|---|---|---|
Overall |
1.5 |
4.6 |
1.5 |
4.5 |
|
1.7 |
4.8 |
|
1.6 |
4.3 |
|
Investment Instruments |
1.8 |
3.9 |
Platforms and Charting Tools |
1.4 |
4.6 |
Deposit and Withdrawal |
1.8 |
4.7 |
Research |
1.4 |
4.2 |
Education |
1.3 |
4.3 |
Support |
1.2 |
4.7 |
Bonuses |
1.3 |
4.7 |
|
|
|
Deriv vs FXOpen: Pros and Cons
Deriv is a brokerage company that started its activities in 1999. Deriv's mission is to make trading accessible. For this reason, the company has low minimum deposit requirements, but high-quality working conditions. DTrader is one of the broker's several proprietary trading platforms. Two others are DBot and DMT5. Deriv offers its clients to trade Forex assets, stocks, indices (including synthetic ones), CFDs, commodities, and options. Deriv is an international broker licensed and regulated by the following bodies: UK Financial Conduct Authority (FCA), Vanuatu Financial Services Commission (VFSC), Malta and Labuan Financial Services Authority (MFSA and Labuan FSA). The rights of traders are guarded by the Financial Commission, of which Derive is also a member.
FXOpen Broker Company was established in Cairo in 2003. In 2005 it commenced dealing services, and thereafter became one of the leaders in the Forex industry. The company has held its high-level service through optimum trading conditions, innovative technologies, and a wide range of financial services.
| Deriv | FXOpen | |
|---|---|---|
| Overall Pros | Low level of the minimum deposit. | profitable trading conditions for the trader of any experience level from beginner to professional |
| A wide range of payment agents for replenishment of the deposit and withdrawal of earned funds. | minimum commissions for withdrawal and Cash-back program, which will reduce your commission fees further | |
| Availability of trading instruments of different groups: currency pairs, stocks, indices, metals, etc. | PAMM-service for successful traders’ transactions copying | |
| Broker regulation by several authorities from different countries. | auto-trading availability | |
| Round-the-clock client support. | convenient reports on account status to the end of the day and month. | |
| Choice of three convenient trading platforms. | ||
| No commission for maintaining a trading account and using its platforms. | ||
| Overall Cons | The tutorials provided on the site may not be enough for novice traders. | insufficient amount of training materials |
| Deriv has only a few ways to contact support. | there is no way to order a call back | |
| The broker does not serve clients from several countries, such as the USA, Canada, Malaysia, Israel, and others. |
Deriv vs FXOpen: Safety and Regulation
| Regulated By: | Deriv | FXOpen |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
Yes |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
Yes |
Other Regulators |
VFSC, MFSA and Labuan FSA |
Nevis |
Deriv vs FXOpen: Trading Conditions
| Trading Conditions | Deriv | FXOpen |
|---|---|---|
Minimum Deposit |
$10 |
$1 |
Trading Platforms |
Deriv MT5, Deriv X, DTrader, SmartTrader, DBot |
MT4, MT5, WebTrader, Mobile app |
Max Leverage (Futures) |
1-1000 |
1-500 |
Supported Markets |
Currency pairs, cryptocurrencies, CFDs, indices, stocks, synthetic indices, commodities |
Forex, CFD, indices, gold and silver, Cryptocurrencies |
Trading assets |
218+ |
|
Trading Accounts |
Real account, demo account |
Demo, Micro, ECN, STP, Crypto, Islamic accounts |
Base Account Currencies |
Deriv MT5, Deriv X, DTrader, SmartTrader, DBot |
USD, EUR, GBP, CAD, AUD, CHF, JPY, CNY |
Deriv vs FXOpen: Fees
Forex Trading Fees
| Fee | Deriv | FXOpen |
|---|---|---|
Standard Account EURUSD Average Spread |
0.1 pips |
0.1 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Not supported |
$1.5-3.5 per lot |
ECN Account EUR Average Spread |
Not supported |
0.1 pips |
CFD Trading Fees
| Fee | Deriv | FXOpen |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread, shares - 0.1% |
Non-Trading Fees
| Fee | Deriv | FXOpen |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
Bank Transfer from $45, Bank Cards - 2.5%, China's Union Pay 3.5%, Electronic Wallets 0.5 - 2% |
Inactivity Fee |
$25 charged every six months of inactivity |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Deriv vs FXOpen: Trading Assets
| Asset Name | Deriv | FXOpen |
|---|---|---|
Overall |
218+ |
200+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes |
Yes (CFD) |
Indices |
Yes |
Yes (CFD) |
ETFs |
No |
Yes |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Deriv or FXOpen: Investment Programs
| Asset Name | Deriv | FXOpen |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: FXOpen or Deriv
| Deriv | FXOpen | |
|---|---|---|
MT4 |
No |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
DTrader |
No |
Others |
SmartTrader |
No |
|
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|
Deriv vs FXOpen: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Deriv | FXOpen |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
Yes |
No |
Deriv vs FXOpen: Research
| Research Type | Deriv | FXOpen |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
No |
Deriv vs FXOpen: Education
| Education Type | Deriv | FXOpen |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
No |
Cent account |
No |
Yes |
FXOpen vs Deriv: Support
| Support Features | Deriv | FXOpen |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
No |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Deriv vs FXOpen: Forex Bonuses and Promo
| Promo | Deriv | FXOpen |
|---|---|---|
Forex Bonus |
No |
A $10 bonus is credited after opening a personal account (eWallet) and passing the 2nd level of verification. (for STP-type accounts); A welcome bonus of $1 is credited when opening a Micro account. |
Affiliate Program |
Deriv’s affiliate program is presented in three types: a trader can (i) receive additional earnings for the monthly income of his referees, (ii) for the probability of payments on options, as well as (iii) for inviting new users to the Deriv broker. |
There is a flexible system of remunerations and coefficients depending on these indicators. 1st level — 100% of the standard commission, 2nd level — 35% of the standard commission, 3rd level — 10% of the standard commission. |
Other Promos |
Forex Cup - A bonus in the amount of 1% of the profit is credited for participating in contests for traders on a virtual account, FXOpen Cashback - The broker refunds a part of the funds for the trading operations conducted, including unprofitable ones. The amount depends on the margin involved in all accounts and ranges from $5 to $1,000. |
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Top 5 Reviews on FXOpen
-
Comment
Normal broker. However, it is gradually moving away from microtrading. On the plus side, it is really regulated and fulfills the requirements of regulators.
-
Comment
I have been trading with this broker for almost 5 years. I like its favorable trading conditions; what is most important to me is the minimum spreads and commissions. Execution of transactions in the terminal is instantaneous, which is very important for intraday trading and scalping trading. Profits are withdrawn quickly, but during the day, that is, you have to wait.
-
Comment
I started trading at FXOpen a few months ago, trading on the EURUSD pair, the spread is relatively low, I like scalping, and trading with the MT4 platform, and order execution is smooth, both when opening orders and closing orders.
-
Comment
FXOpen complies with conditions of the promotion with the account transfer. I recently finished the process. The promised 30% was credited to the account. The broker’s manager said that the bonus is tradable. I haven’t been able to check it yet, since it requires a decent drawdown. But I think that's true. At least the manager assured me and this is specified in the documents provided on the website. I have been actively trading for several days, so far there are no comments for FXOpen.
-
Comment
I have been working with fxopen for more than a year, and so far my opinion is rather neutral. There were no problems, technically everything was fine too. The service level corresponds to an experienced broker. I don’t yet see any reason for criticism, as well as for admiration. I got what I expected. But I’m trading with TradersWay not for long, so my review is not yet objective.
Top 5 Reviews on Deriv
-
Comment
I think Deriv is not the worst broker out there. They focus on futures contracts in the form of options and derivatives. The platform is quite different from what we're used to, but you get used to it over time. Order processing is fast, and I haven't noticed any major issues with the platform. Overall, Deriv offers decent conditions.
-
Comment
I'm still learning how the deriv platform works. The reviews are mostly positive, but I don't want to get into a difficult situation. I'm trading on demo for now. Moreover, I’m still new to trading, I’m just trying to learn. Deriv's technical support is good, they answer my questions professionally.
-
Comment
I learned about Deriv three years ago. The first impression was not very good, but then I started trading with this company. Now, I think that this is a really good broker. Opening trades is very easy, there are no price manipulations, and profitability is high. So I recommend this broker!
-
Comment
If you want to start trading Forex, Deriv is the broker where you should do it. Deposits and withdrawals are fast, you trade on the interbank market, and there are educational materials. Try it, choose a normal company like this one and make money. I haven’t traded with large amounts, because I’m not entirely confident in myself yet.
-
Comment
Deriv is a good company. I’ve been trading here for 4 months now, and I have no complaints about performance and operation of the platform. User account is convenient. I strongly recommend it.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.