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 (founded 1989) and OANDA (founded 1996) are both non-bank online brokers, but their corporate structures differ: CMC Markets is publicly traded, while OANDA is not. According to ForexBrokers.com, a Trust Score of 90–99 is considered highly trusted; CMC Markets scores 99/99 and OANDA scores 92/99, placing both in that top trust range.
On regulation, CMC Markets holds 6 Tier-1 licenses (highly trusted) and 1 Tier-2 license (trusted), while OANDA holds 7 Tier-1 licenses and 0 Tier-2 licenses. In short, CMC Markets combines a 99 Trust Score with a public listing, and OANDA carries one additional Tier-1 license.
| 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 comes out ahead of OANDA on commissions and fees. In ForexBrokers.com’s 2025 Annual Awards, CMC Markets earned a 5-star rating and ranked #4 out of 36 brokers for Commissions and Fees, while OANDA earned 4 stars and ranked #31. CMC Markets is known for consistently low spreads across all account types, with average EUR/USD spreads around 0.61 pips based on its August 2023 pricing data.
CMC Markets also offers ways to cut trading costs further. Its Price Plus Scheme gives active traders spread discounts based on Trading Points earned from trading volume, and its FX Active pricing adds a per-trade commission of $2.50 per side with very low spreads. That setup can bring the all-in EUR/USD cost down to about 0.5 pips, which is especially competitive for frequent forex traders.
OANDA’s pricing is generally higher. Its average non-core EUR/USD spread was 1.61 pips in July 2024, and its core pricing lowers spreads but adds a commission of about $10 per round turn standard lot, with a $10,000 minimum deposit required. OANDA does offer small-trade flexibility, rebates for high-volume traders in select regions, and clear spread reporting, but overall its fees are less competitive than CMC Markets for most traders.
| Feature |
CMC Markets
|
OANDA
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.3 | 1.68 |
| 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.
When comparing CMC Markets and OANDA for range of investments, both brokers give traders access to forex trading as either a CFD or spot contract, plus exchange-traded shares on both U.S. and international exchanges. Each also supports copy trading and cryptocurrency CFDs, so users can trade popular markets in more than one way. Both platforms provide a wide mix of assets, but CMC Markets offers a much larger selection overall, with 12,029 tradeable symbols and 141 forex pairs, compared with OANDA’s 4,172 symbols and 69 forex pairs.
The biggest difference is in crypto and overall market breadth. OANDA lets clients buy actual cryptocurrency, while CMC Markets does not offer delivered crypto, only crypto CFDs. Still, CMC Markets comes out ahead on range of investments, earning 5 stars and a #9 ranking out of 36 brokers from ForexBrokers.com, versus OANDA’s 4.5 stars and #20 ranking. For traders who want the widest choice of markets, CMC Markets has the edge, while OANDA may appeal to those who want actual crypto access as part of a solid all-around offering.
| 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 and OANDA both give traders a wide range of platform options, including a free demo account for simulated trading, their own in-house platforms, Windows desktop downloads, web-based platforms, copy trading, and support for MetaTrader 4 and MetaTrader 5. Both brokers also let you trade directly from a chart, which can make order placement quicker and more convenient for active traders.
When it comes to trading platforms and tools, CMC Markets has the edge overall. ForexBrokers.com rates CMC Markets 5 out of 5 stars and ranks it #6 out of 36 brokers, while OANDA is rated 4 out of 5 stars and ranked #16. For traders comparing online broker platforms, both are solid choices, but CMC Markets stands out as the stronger pick for platform features and trading tools.
| 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 offer mobile trading apps for iPhone and Android, along with price alerts, trendline drawing, and automatic saving of chart drawings. Each broker also earns a 5-star rating for mobile trading apps, showing that both platforms give traders a strong mobile experience for managing trades and tracking the market on the go.
The main difference is in watchlist syncing and chart tools. CMC Markets lets users sync watchlists between the mobile app and online account, while OANDA does not. OANDA offers slightly more technical studies in its mobile charting tools, with 30 compared with CMC Markets’ 29. Even so, CMC Markets ranks higher overall for mobile trading apps at #5 out of 36 brokers, ahead of OANDA at #7.
| 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 and OANDA both offer a strong set of market research tools for traders. Each broker provides daily market commentary, forex news from major sources like Bloomberg, Reuters, and Dow Jones, Autochartist tools, sentiment data that shows long and short positioning, and an economic calendar with global events. Neither broker includes Trading Central, TipRanks, or Acuity Trading research tools, so their research offerings are very similar in the areas most traders use day to day.
When it comes to overall research quality, both CMC Markets and OANDA are rated 5 out of 5 stars. That said, OANDA edges ahead in ForexBrokers.com’s research ranking, placing #4 out of 36 brokers compared with CMC Markets at #6. For traders looking for clear market updates and practical research features, both brokers are solid choices, with OANDA holding a slight lead on ranking.
| 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.
For beginners looking for trading education, both CMC Markets and OANDA provide plenty of learning material, and each earns 5 out of 5 stars for Education. They also both offer at least 10 beginner videos and at least 10 advanced videos, so new and more experienced traders can find content that matches their level. CMC Markets also offers forex and CFDs education with at least 10 pieces focused on those topics, which can help beginners build a better base in the markets.
Where OANDA stands out is live learning: it offers online educational client webinars at least once a month, while CMC Markets does not. Even so, CMC Markets ranks higher overall for Education, coming in at #10 out of 36 brokers, compared with OANDA at #18. In simple terms, CMC Markets may appeal more to self-paced learners, while OANDA may be a better fit for beginners who want regular webinar access alongside standard educational content.
| 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 #5, while OANDA finished with an overall rank of #13.
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 | 92 |
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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 | 92 | |
| 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 | 92 | |
| 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 (FSA 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 CMA 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 | 1.68 | |
| 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 | 92 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | OANDA Review |
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