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 account | 1.3 | 1.69 |
| All-in Cost EUR/USD - Active | 0.65 | 1.69 |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
CMC Markets offers a wider range of investments than OANDA, with 12,029 tradeable symbols compared with OANDA’s 4,172. For currency traders, CMC provides 141 forex pairs versus OANDA’s 69, and both brokers support forex trading as either CFDs or spot contracts. Beyond forex, each broker lets you buy exchange-traded securities (not CFDs) on U.S. and international exchanges, and both offer copy trading.
In cryptocurrency, OANDA lets you buy actual coins as well as crypto CFDs, while CMC Markets limits crypto to CFDs. Reflecting their overall selection, ForexBrokers.com rates CMC Markets 5 out of 5 stars and ranks it #9 of 63 for Range of Investments; OANDA earns 4 out of 5 stars and ranks #28.
| Feature |
CMC Markets
|
OANDA
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12029 | 4172 |
| Forex Pairs (Total) | 141 | 69 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | Yes |
| Cryptocurrency (CFDs) | 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.
CMC Markets vs OANDA: both brokers check the major platform boxes. Each offers a free paper-trading demo account, a proprietary (in‑house) platform, Windows desktop software, a web-based platform, and copy trading. You can also use MetaTrader 4 (MT4) and MetaTrader 5 (MT5) at both, and place trades directly from charts.
Where they differ is recognition for platform quality. For Trading Platforms and Tools, ForexBrokers.com rates CMC Markets 5 stars (ranked #4 of 63), while OANDA earns 4 stars (ranked #15). If you want a higher-rated platform experience, CMC Markets stands out; if you prefer a capable lineup with MT4/MT5 and copy trading, OANDA remains a solid alternative.
| Feature |
CMC Markets
|
OANDA
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 73 | 89 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
CMC Markets and OANDA both deliver high-quality mobile trading apps for iPhone and Android, each earning a 5-star Mobile Trading Apps rating. In ForexBrokers.com’s 2024 rankings out of 63 brokers, CMC Markets places #5 and OANDA ranks #7. Charting is strong on both: CMC Markets offers 29 technical studies, while OANDA provides 30. Each app supports drawing trendlines and automatically saves your chart annotations. Price alerts are available on both platforms, helping you stay on top of market moves.
The standout difference is watchlist syncing. CMC Markets syncs watchlists between the mobile app and your online account, so changes carry over across devices; OANDA does not sync watchlists. If you value seamless watchlist management between desktop and phone, CMC Markets has the edge. If having one more built-in indicator matters to you, OANDA slightly leads there. Either way, both apps are strong picks for mobile charting, alerts, and on-the-go trading.
| Feature |
CMC Markets
|
OANDA
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 29 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
CMC Markets vs OANDA for market research: both brokers provide daily market commentary and top-tier forex news (e.g., Bloomberg, Reuters, Dow Jones, or similar). Each platform includes Autochartist tools for technical and fundamental ideas, a sentiment tool showing the long/short split across instruments, and an economic calendar covering global events. Neither broker offers Trading Central, TipRanks, or Acuity/Signal Centre research tools.
Both CMC Markets and OANDA earn 5 stars for Research. In ForexBrokers.com’s Research category (out of 63 brokers), OANDA ranks #4 while CMC Markets ranks #6, giving OANDA a slight edge in independent standing. Since the feature sets are nearly identical, your choice may come down to which platform’s layout and delivery of research you prefer.
| Feature |
CMC Markets
|
OANDA
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | No | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
CMC Markets and OANDA both deliver plenty of beginner-friendly forex and CFD education, meeting the bar of at least 10 pieces of content and going well beyond with 10+ beginner videos and 10+ advanced videos each. Where they differ is in live learning: CMC Markets does not run monthly client webinars, while OANDA does offer ongoing webinars that can help newcomers learn in real time. Both earn 5 out of 5 stars for Education, but in ForexBrokers.com’s rankings CMC Markets places higher at #10 out of 63 brokers, compared with OANDA at #19.
If you prefer self-paced learning with lots of videos and articles, CMC Markets is an excellent pick thanks to its wide library and top rating. If live classes matter, OANDA’s regular webinars add extra value for hands-on learners. Either way, beginners will find solid foundations at both brokers, with CMC Markets holding a slight edge in category ranking and OANDA standing out for live webinar support.
| Feature |
CMC Markets
|
OANDA
|
|---|---|---|
| Webinars | No | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | 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
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OANDA
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 93 |
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OANDA vs CMC Markets: OANDA lets traders buy real (delivered) cryptocurrencies and trade crypto CFDs, while CMC Markets limits crypto access to CFDs only and does not offer actual delivered crypto.
CMC Markets vs OANDA: both brokers support ACH/SEPA, PayPal, and bank wire deposits and withdrawals, only OANDA adds Skrill, and Visa/Mastercard availability is not specified for either.
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 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | OANDA Review |
| Broker Screenshots | CMC Markets | OANDA | |
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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 | 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, FSRA, or SCA 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. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | Yes | |
| Cryptocurrency (CFDs) | 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 account | 1.3 | 1.69 | |
| All-in Cost EUR/USD - Active | 0.65 | 1.69 | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | CMC Markets | OANDA | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | Yes |
| Trading Platforms | CMC Markets | OANDA | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No |
| Trading Tools | CMC Markets | OANDA | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 73 | 89 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 29 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | CMC Markets | OANDA | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | CMC Markets | OANDA | |
|---|---|---|---|
| Webinars | No | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | CMC Markets | OANDA | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | CMC Markets Review | OANDA Review |
| Overall | CMC Markets | OANDA | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | OANDA Review |
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