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.
When comparing the regulatory standings and trustworthiness of online brokers, CMC Markets and OANDA stand out as reliable choices, each with its own strengths. Founded in 1989, CMC Markets is a publicly traded company with a stellar Trust Score of 99, indicating high confidence from ForexBrokers.com. It holds five Tier-1 licenses, which are regarded as the most secure, and an additional Tier-2 license. Despite not being a bank, CMC Markets' stock exchange listing provides transparency and reliability for traders looking for a reputable broker.
On the other hand, OANDA, founded in 1996, boasts an impressive seven Tier-1 licenses, underscoring its commitment to security and oversight. Although not publicly traded, OANDA still carries a strong Trust Score of 93, showcasing its credibility in the financial market. This solid rating is supported by its robust Tier-1 licensing, despite lacking Tier-2 accreditation. Both brokers offer trustworthy platforms for investors seeking well-regulated environments, making them strong contenders in the online trading arena.
| Feature |
CMC Markets
|
OANDA
|
|---|---|---|
| Year Founded | 1989 | 1996 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 5 | 7 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When evaluating online brokers based on commissions and fees, CMC Markets emerges as a notable leader, earning a 5-star rating and securing the top spot among 63 brokers in the ForexBrokers.com rankings. Its consistently low spread offerings distinguish CMC Markets as a highly competitive choice. For instance, typical spreads on the EUR/USD pair average 0.61 pips, and the company’s Price Plus Scheme offers discounts for active traders based on Trading Points. Additionally, their FX Active pricing model, available in multiple regions, provides zero-pip minimum spreads on some currency pairs with a $2.50 per side commission, solidifying CMC Markets' position as a pricing leader.
On the other hand, OANDA garners a 4-star rating and ranks 34th in the same category. While not primarily a discount broker, OANDA’s automated execution enhances its trading experience despite generally higher trading costs. The default average spread, as observed on EUR/USD trades, was 1.61 pips in July 2024. OANDA’s core pricing option offers lower spreads at 0.4 pips with a per-side commission of $5 per $100,000, providing a modest reduction in trading costs compared to their standard pricing.
Unlike CMC Markets, OANDA does not disclose fixed-period average spreads, making transparency in cost comparison slightly less straightforward. However, it offers unique features like micro lot trading starting from just 1 unit, and an Elite Trader program, which includes various rebate tiers and subscription reimbursements, thus providing benefits for high-volume traders. Both brokers offer distinct advantages, making the choice largely dependent on the trader’s volume and preferred pricing structure.
| Feature |
CMC Markets
|
OANDA
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 0.61 | 1.61 |
| All-in Cost EUR/USD - Active | 0.51 | 1.61 |
| 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.
When comparing CMC Markets and OANDA for their investment options, CMC Markets clearly provides a more extensive selection. Offering a staggering 11,925 tradeable symbols, CMC Markets surpasses OANDA, which offers 3,928 symbols. For those interested in forex trading, CMC Markets also leads with 156 tradeable forex pairs compared to OANDA's 68. Notably, CMC Markets allows investors to purchase exchange-traded securities on both U.S. and international exchanges, enabling them to buy shares like Apple or Vodafone directly. On the other hand, OANDA does not provide this option, focusing instead on forex and derivatives.
Both brokers cater to cryptocurrency enthusiasts, though their methods differ. While CMC Markets does not permit the purchase of actual cryptocurrency, it does offer cryptocurrency derivatives, similar to OANDA. Interestingly, OANDA allows customers to buy actual cryptocurrencies, which provides a distinct advantage for those seeking ownership of digital assets. Despite this, CMC Markets boasts a higher rating of five stars for its range of investments and ranks 9th out of 63 brokers by ForexBrokers.com. Conversely, OANDA holds a four-star rating and ranks 27th in the same category, highlighting the broader investment opportunities available at CMC Markets.
| Feature |
CMC Markets
|
OANDA
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 11925 | 3928 |
| Forex Pairs (Total) | 156 | 68 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| 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 the trading platforms and tools offered by CMC Markets and OANDA, both brokers provide a comprehensive suite of options to enhance trading experiences. Each offers a free virtual demo account for paper trading, alongside proprietary platforms that cater to their specific user needs. Traders using CMC Markets or OANDA can access both desktop and web-based platforms, making it easy to trade from various devices. Additionally, both brokers offer MetaTrader 4 and MetaTrader 5, but neither supports DupliTrade or ZuluTrade. CMC Markets and OANDA allow trading directly from stock charts and offer copy trading features. However, when it comes to charting tools, OANDA stands out with 431 drawing tools compared to CMC Markets' 40, although both brokers provide numerous technical indicators.
In terms of customization, CMC Markets leads with 11 columns for watch lists, in contrast to OANDA's six. This flexibility, along with other factors, contributes to CMC Markets being highly rated at five stars for their platforms and tools, while OANDA is rated four stars. Ranking-wise, CMC Markets secures a position at #4 out of 63 brokers, showcasing its prowess in trading platforms and tools, whereas OANDA follows at #15. These differences highlight the strengths of each platform, guiding traders to make informed choices based on their trading preferences and requirements.
| 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) | 79 | 81 |
| Charting - Drawing Tools (Total) | 40 | 431 |
| 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.
When comparing the educational resources provided by CMC Markets and OANDA, both brokers excel in delivering a wealth of materials to guide beginners in the world of forex and CFDs trading. CMC Markets impresses with a comprehensive collection of over 10 educational pieces, including articles, videos, and an accessible archive of recorded webinars. Their selection caters to both beginners and seasoned traders, featuring over 10 videos specifically for each group and an investor dictionary covering over 50 essential terms. Although CMC Markets does not offer monthly live webinars, their diverse resources earn them a top-tier 5-star rating and a notable #10 ranking in education out of 63 brokers on ForexBrokers.com.
OANDA equally shines with its array of educational content, offering more than 10 instructional resources focused on forex and CFDs. Unlike CMC Markets, OANDA provides live webinars monthly and, like its counterpart, maintains a searchable archive of recorded sessions. Beginners can find targeted learning with OANDA's extensive video library, and their investor dictionary aids traders in becoming familiar with key financial terms. Sharing the same high 5-star educational rating as CMC Markets, OANDA holds the #22 spot in the education rankings, reflecting its solid position among top online trading brokers.
| 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 |
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| Trust Score | 99 | 93 |
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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.
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0 of 5| Overall Rating | CMC Markets | OANDA | |
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| Trust Score | 99 | 93 | |
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| Review | CMC Markets Review | OANDA Review |
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| 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 | 5 | 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) | No | No | |
| 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) | No | No | |
| 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) | No | No |
| Investments | CMC Markets | OANDA | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 11925 | 3928 | |
| Forex Pairs (Total) | 156 | 68 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| 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 | 0.61 | 1.61 | |
| All-in Cost EUR/USD - Active | 0.51 | 1.61 | |
| 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) | 79 | 81 | |
| Charting - Drawing Tools (Total) | 40 | 431 | |
| 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 |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | OANDA Review |
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