Written by ForexBrokers.com
In this head to head comparison of CMC Markets vs OANDA, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CMC Markets and OANDA are two well-regarded online brokers frequently compared for their reliability and regulatory standings. Founded in 1989, CMC Markets is a publicly traded company, differentiating it from OANDA, which was established in 1996 and remains privately owned. Both companies operate without banking licenses, reflecting their focus on brokerage services rather than traditional banking. However, CMC Markets stands out with six Tier-1 licenses and one Tier-2 license, providing a strong level of trust based on ForexBrokers.com's ratings. In contrast, OANDA holds an impressive seven Tier-1 licenses but lacks Tier-2 licenses.
When it comes to trustworthiness, CMC Markets achieves a top-tier score of 99 on ForexBrokers.com's Trust Score, indicating it is highly trusted. OANDA also garners a commendable trust factor with a score of 93, positioning it in the trusted range. These scores suggest both brokers are reliable choices for online trading, though CMC Markets edges ahead in terms of regulatory licenses and transparency due to its publicly traded status.
| Feature |
CMC Markets
|
OANDA
|
|---|---|---|
| Year Founded | 1989 | 1996 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 6 | 7 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
CMC Markets vs. OANDA on commissions and fees: CMC Markets earns 5/5 stars and ranks #1 out of 63 brokers for Commissions and Fees in our 2025 Awards, while OANDA earns 4/5 stars and ranks #35/63. The key difference is pricing: CMC Markets generally delivers lower, more consistent spreads across account types, whereas OANDA’s costs tend to be higher unless you use its core pricing and qualify for volume rebates.
CMC Markets’ average spreads are better than the industry norm, with a typical 0.61‑pip spread on EUR/USD (August 2023), and its averages historically track close to advertised minimums. Its FX Active commission plan (available in Southeast Asia, Australia, New Zealand, Canada, and the U.K. on MT4 and Next Generation) charges $2.50 per side with minimum spreads of 0.0, producing about a 0.5‑pip all‑in cost on EUR/USD and five other pairs. Example: NZD/USD drops from 1.5 pips on the standard account to about 0.5 pips all‑in under FX Active. Active traders can also tap the Price Plus Scheme for spread discounts based on Trading Points (e.g., 2 points per standard lot; Tier 4’s 20% discount kicks in at 1,250 lots per month).
OANDA’s default (non‑core) spreads are higher than leaders, averaging 1.61 pips on EUR/USD in July 2024. Its core pricing lowers the spread but adds a $5 per‑side commission per $100,000 traded and requires a $10,000 minimum deposit; using the example provided, EUR/USD would drop from 1.6 pips (default) to about 1.4 pips all‑in under core pricing. Perks include micro‑sized trades from 1 unit and the Elite Trader program with rebates of $5–$17 per million for volumes of $10 million+. OANDA also publishes trailing spread data for transparency, though it doesn’t provide fixed‑period averages, which makes exact comparisons harder.
| Feature |
CMC Markets
|
OANDA
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.3 | 1.69 |
| All-in Cost EUR/USD - Active | 0.65 | 1.69 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Comparing CMC Markets vs OANDA on range of investments, CMC Markets clearly offers a wider selection. It lists 12,029 tradeable symbols versus OANDA’s 4,172, and 141 forex pairs compared with OANDA’s 69. Both brokers let you trade forex as CFDs and spot, and both provide access to exchange-traded securities on U.S. and international exchanges, so you can buy shares like Apple in the U.S. and Vodafone in the U.K. Copy trading is available at both. For crypto, OANDA lets you buy actual coins, while CMC Markets does not; however, both support cryptocurrency derivatives.
Independent ratings reflect this breadth: CMC Markets earns 5 stars for Range of Investments and ranks #9 out of 63 brokers on ForexBrokers.com, while OANDA earns 4 stars and ranks #28. If you want the largest menu of markets and currency pairs, CMC Markets has the edge; if buying real crypto is important, OANDA is the pick.
| Feature |
CMC Markets
|
OANDA
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12029 | 4172 |
| Forex Pairs (Total) | 141 | 69 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | Yes |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing CMC Markets and OANDA in terms of their trading platforms and tools, both brokers offer a comprehensive range of features. They each provide simulated trading with free virtual demo accounts, allowing users to practice without financial risk. Both have proprietary trading platforms and support popular tools like MetaTrader 4 (MT4) and MetaTrader 5 (MT5). They also offer both web-based and Windows-based desktop platforms, ensuring flexibility for different trading environments. Additionally, users can engage in copy trading on both platforms, although neither broker supports DupliTrade or ZuluTrade. CMC Markets and OANDA both enable users to trade directly from stock charts, enhancing the trading experience.
In terms of charting tools, OANDA stands out with 74 drawing tools compared to CMC Markets' 36. However, CMC Markets offers more customization options for watch lists with 11 columns available, while OANDA offers 6. Overall, CMC Markets is highly rated with a perfect score of 5 stars in trading platforms and tools, standing at 4th place out of 63 brokers according to ForexBrokers.com. In contrast, OANDA, while still commendable with a 4-star rating, ranks 15th. This comparison reveals CMC Markets as a slightly more preferred option for traders seeking advanced platform features and extensive customization options.
| Feature |
CMC Markets
|
OANDA
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 73 | 89 |
| Charting - Drawing Tools (Total) | 36 | 74 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of CMC Markets and OANDA, both brokers provide apps available for iPhone and Android, ensuring accessibility for mobile traders. Each platform offers important features like stock and forex price alerts, as well as the ability to draw trendlines and view multiple timeframes on charts. Both apps are equipped with the functionality to create watchlists with real-time quotes, and they automatically save chart drawings, enhancing the user experience. However, CMC Markets holds an edge with watchlist symbol syncing, allowing seamless synchronization between mobile devices and online accounts—a feature absent in OANDA's app.
For technical charting aficionados, CMC Markets offers 29 technical studies while OANDA provides 30, catering to diverse analytical needs. User ratings are tied, with both apps earning an impressive 5-star rating. However, CMC Markets ranks slightly higher in the Mobile Trading Apps category by ForexBrokers.com, holding the 5th spot out of 63 brokers compared to OANDA's 7th place. These accolades and features make both mobile trading apps reliable options, with slight variations fitting different trader preferences.
| Feature |
CMC Markets
|
OANDA
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 29 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing CMC Markets and OANDA for their market research capabilities, both platforms offer comprehensive resources that cater to traders seeking to understand market movements. CMC Markets and OANDA provide daily market commentary, ensuring that traders remain informed about the latest financial developments. They both offer forex news from reputable sources like Bloomberg, Reuters, and Dow Jones, delivering timely updates essential for making informed trading decisions. Additionally, each platform features technical analysis and fundamental research tools from Autochartist and provides sentiment-based trading tools that display the ratio of long and short positions across currency pairs and other instruments. Both CMC Markets and OANDA include economic calendars showcasing global news events, which are invaluable for those looking to track economic announcements that might impact trading.
While neither CMC Markets nor OANDA includes tools from Trading Central, TipRanks, or Acuity Trading, both manage to earn a strong reputation in the research category. CMC Markets is rated five stars for research, ranking sixth out of 63 brokers on ForexBrokers.com. OANDA matches this stellar rating with five stars as well but takes a slight edge by placing fifth in the same category. With their array of market commentary, forex news, and economic calendars, both platforms provide solid research offerings that equip traders with the necessary insights to navigate the financial markets effectively. Despite minor differences in their toolsets, both brokers are well-regarded for enabling traders to make knowledgeable trading choices.
| Feature |
CMC Markets
|
OANDA
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
CMC Markets and OANDA both deliver beginner-friendly forex and CFD education. Each broker offers well over 10 learning pieces, including articles, videos, and recorded webinars. New traders will find plenty of step-by-step tutorials: both brands provide at least 10 beginner videos and at least 10 advanced videos, plus searchable archives of past webinars. Both also include an investor dictionary with 50+ trading terms to help you learn the lingo.
The main difference is live instruction. OANDA runs at least one client webinar each month, while CMC Markets does not offer monthly live webinars (though it does maintain a webinar archive). In third-party evaluations, both earn 5 stars for Education. However, ForexBrokers.com ranks CMC Markets higher at #10 out of 63 brokers, compared with OANDA at #19. If you value frequent live classes, OANDA stands out; if you prefer on-demand lessons and a stronger category ranking, CMC Markets may be the better fit.
| Feature |
CMC Markets
|
OANDA
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that CMC Markets is better than OANDA. CMC Markets finished with an overall rank of #4, while OANDA finished with an overall rank of #12.
CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments.
| Feature |
CMC Markets
|
OANDA
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 93 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
While both CMC Markets and OANDA provide options for trading cryptocurrency derivatives, only OANDA offers the ability to purchase actual delivered cryptocurrency.
CMC Markets and OANDA both provide users with the ability to deposit or withdraw funds using ACH/SEPA transfers, PayPal, Visa, Mastercard, and bank wires, but only OANDA offers Skrill as a payment method option.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
Select Brokers
↓×Compare
0 of 5| Overall Rating | CMC Markets | OANDA | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | OANDA Review |
| Broker Screenshots | CMC Markets | OANDA | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| Regulation | CMC Markets | OANDA | |
|---|---|---|---|
| Trust Score | 99 | 93 | |
| Year Founded | 1989 | 1996 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 6 | 7 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | CMC Markets | OANDA | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | Yes | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | Yes | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | CMC Markets | OANDA | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | CMC Markets | OANDA | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 12029 | 4172 | |
| Forex Pairs (Total) | 141 | 69 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | Yes | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | CMC Markets | OANDA | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.3 | 1.69 | |
| All-in Cost EUR/USD - Active | 0.65 | 1.69 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | CMC Markets | OANDA | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | CMC Markets | OANDA | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | CMC Markets | OANDA | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 6 | |
| Charting - Indicators / Studies (Total) | 73 | 89 | |
| Charting - Drawing Tools (Total) | 36 | 74 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | CMC Markets | OANDA | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 29 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | CMC Markets | OANDA | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | CMC Markets | OANDA | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | CMC Markets | OANDA | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | CMC Markets Review | OANDA Review |
| Overall | CMC Markets | OANDA | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | OANDA Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill