FxOpen vs FXCM Comparison for Norway Traders (2026)

For Norway traders, trading costs are a key differentiator. FxOpen offers a Raw ECN account with spreads from 0.0 pips and a commission of $3.5 per lot, while its STP account has spreads from 0.5 pips with no commission. FXCM's standard account has spreads from 1.2 pips on EUR/USD, with no commission, but its Active Trader program reduces spreads for high-volume traders. Given the USD/NOK pair's wide spreads, FxOpen's low-cost structure is more advantageous for active retail traders in Norway. A trader executing 10 lots per month on EUR/USD would pay approximately $35 in commissions with FxOpen versus $120 in spreads with FXCM, making FxOpen the cheaper option.

Both brokers offer MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are popular among Norway traders for their advanced charting and automated trading capabilities. FxOpen also provides its own WebTrader and mobile apps, while FXCM offers Trading Station, a proprietary platform with intuitive design and risk management tools. For Norwegian traders who prefer algorithmic trading, both brokers support Expert Advisors (EAs) on MT4/MT5. FXCM's Trading Station is better suited for beginners due to its simplicity, while FxOpen's MT5 is ideal for those needing advanced analysis and multiple asset classes.

FxOpen provides ECN execution with no requotes, ideal for scalpers and algorithmic traders in Norway. Its order execution speed averages under 50ms. FXCM uses No Dealing Desk (NDD) execution, with some requotes during volatile markets. For Norway traders trading during the London-New York overlap, FxOpen's execution is more reliable and faster, especially for high-frequency strategies. FXCM's execution is acceptable for most retail traders but may not suit those requiring ultra-fast fills.

Regulation is crucial for Norway traders. FxOpen is regulated by the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC), providing client fund segregation and negative balance protection. FXCM is regulated by the FCA, the Australian Securities and Investments Commission (ASIC), and the South African Financial Sector Conduct Authority (FSCA). Both brokers comply with the local financial regulator's guidelines for offshore trading, but Norway traders should note that FxOpen's FCA regulation offers stronger investor protection. Neither broker is directly regulated by Finanstilsynet (Norway's financial regulator), so traders must ensure they are comfortable with offshore regulation.

Norway traders have convenient deposit and withdrawal options at both brokers. FxOpen supports Bank Transfer (including Norwegian banks), Skrill, Neteller, and USDT TRC20, with minimum deposits starting at $10. Deposits via e-wallets and USDT are instant, while bank transfers take 1-2 business days. FXCM also accepts Bank Transfer, Skrill, Neteller, and USDT TRC20, with a minimum deposit of $50. Withdrawals are processed within 24 hours for e-wallets and USDT, and 2-5 business days for bank transfers. FxOpen does not charge deposit fees, while FXCM may charge a small fee for bank transfers. Both brokers allow withdrawals in USD, which is convenient for Norway traders who want to avoid NOK conversion costs.

Both FxOpen and FXCM offer Islamic (swap-free) accounts for Muslim traders in Norway. FxOpen provides swap-free accounts on all account types (Raw ECN, STP, and Crypto) upon request, with no swap charges on overnight positions. FXCM offers Islamic accounts on its Standard and Active Trader accounts, but positions held beyond a certain period may incur an administration fee. For Norway traders, FxOpen's policy is more favorable as it does not charge any additional fees for long-term holdings. Both brokers require a declaration of faith or identification to open an Islamic account.

Customer support is available 24/5 from both brokers. FxOpen offers live chat, email, and phone support in English, with response times under 5 minutes for live chat. FXCM provides 24/5 support via phone, email, and live chat, with a dedicated Norwegian-language phone line. For Norway traders, FXCM's Norwegian support is an advantage, as it allows communication in the local language. FxOpen's support is efficient but primarily in English, which may be a minor inconvenience for some traders.