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 comparing CMC Markets and OANDA regarding commissions and fees, CMC Markets stands out as a top performer. Awarded #1 in ForexBrokers.com's Commissions and Fees category, and holding a perfect 5-star rating, CMC Markets attracts traders with its low and competitive pricing. With average spreads of 0.61 pips on the EUR/USD, the broker’s pricing ranks well above industry norms. Their Price Plus Scheme offers further discounts on trading costs based on Trading Points earned by active investors. Additionally, the FX Active program provides a commission-based pricing model with spreads starting at zero pips, maintaining an all-in cost as low as 0.5 pips. These offerings cumulatively position CMC Markets as an industry leader in affordable trading solutions.
In contrast, OANDA, though equipped with automated execution features, generally offers higher trading costs. It ranks #34 in the Commissions and Fees category with a 4-star rating. OANDA’s effective spreads tend to be higher compared to industry leaders, with average non-core pricing at 1.61 pips for the EUR/USD. The broker's core pricing plan, though offering narrower spreads, requires a $10,000 deposit and adds a $5 commission per $100,000 traded, landing the all-in cost for core pricing at an improved but still competitive 1.4 pips. Despite the availability of rebates and reduced trade sizes in its Elite Trader program, the firm doesn't quite match the value CMC Markets offers in terms of fees.
While both brokers offer unique advantages, CMC Markets clearly excels in providing cost-efficient trading solutions. The broker's commitment to consistently low spreads and favorable pricing programs makes it an attractive choice for cost-conscious traders, whereas OANDA brings distinct automated execution and a straightforward approach but at generally higher costs. Each offers specialized programs that may appeal to different types of investors, but CMC Markets takes the lead with its pricing advantages and market recognition.
| 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 it comes to the range of investments, CMC Markets and OANDA both offer extensive opportunities for traders, albeit with some notable differences. CMC Markets stands out with an impressive offering of 11,925 tradeable symbols, significantly surpassing OANDA's list of 3,928 symbols. Forex enthusiasts will find CMC Markets particularly appealing as it offers 156 forex pairs, compared to OANDA’s 68. In addition to this, CMC Markets provides access to exchange-traded securities on both U.S. and international exchanges, allowing clients to invest in shares of companies like Apple and Vodafone. OANDA, however, does not offer this type of access to exchange-traded securities, focusing instead on spot forex and CFDs.
Both brokers allow cryptocurrency trading, but their approach varies. CMC Markets offers cryptocurrency derivatives, while OANDA goes a step further by allowing the purchase of actual cryptocurrencies. Copy trading features are available through both platforms, aiding less experienced investors in mimicking the trades of professionals. In overall ratings for range of investments, CMC Markets has earned a full five stars and ranks higher by ForexBrokers.com compared to OANDA, which has been awarded four stars. CMC Markets secures the 9th spot out of 62 brokers in this category, while OANDA places significantly lower at 27th. Traders looking for a diverse range of investments may find CMC Markets to be the more attractive choice.
| 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 wide array of features appealing to both novice and experienced traders. Each offers a proprietary platform developed in-house, as well as popular third-party platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5). For those keen on testing strategies before investing real money, both CMC Markets and OANDA provide simulated trading with free demo accounts. Both brokers support trading from web-based, browser platforms and Windows-based desktop download options, ensuring flexibility in trading environments. Moreover, copy trading is available through both platforms, though neither supports DupliTrade or ZuluTrade integrations.
Despite their similarities, there are distinct differences that might influence a trader's choice. CMC Markets boasts a broader range of features like 11 watchlist columns compared to OANDA's six, which can be pivotal for traders looking for detailed market tracking. While CMC Markets provides 40 drawing tools for charting, OANDA impressively offers 431, catering to intricate technical analysis needs. For trading tools and platforms, CMC Markets is rated 5 stars and ranks 4th out of 62 brokers on ForexBrokers.com, while OANDA earns 4 stars and ranks 15th. These distinctions highlight CMC Markets' slight edge in comprehensive platform tools and support, which may appeal to traders prioritizing detailed functionality and customization.
| 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 it comes to mobile trading apps, both CMC Markets and OANDA offer strong options for traders using iPhone and Android devices. Each app provides handy features like stock and forex price alerts, the ability to draw trendlines on charts, and options to view multiple time frames like daily or weekly. Both platforms also let users create watchlists with real-time quotes and have ratings of five stars for their mobile apps. However, there are some differences. CMC Markets syncs watchlists between its mobile app and online account, a feature missing in OANDA's app.
In terms of charting features, CMC Markets provides 29 technical studies, while OANDA edges slightly ahead with 30. Both brokers offer auto-save for chart drawings, enhancing the user experience by keeping all notations intact. In rankings by ForexBrokers.com, CMC Markets is positioned at number 5 out of 62 brokers, slightly above OANDA, which stands at number 7. It seems that for traders who value watchlist syncing and a high-ranking reputation, CMC Markets might be the preferred choice, while those who prioritize slightly more technical studies may lean toward OANDA.
| 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 the research offerings of online brokers CMC Markets and OANDA, both platforms shine with their comprehensive market insights. Each broker provides daily market commentary, keeping traders informed with timely forex news from prestigious sources like Bloomberg, Reuters, and Dow Jones. Both platforms also feature tools from Autochartist for technical analysis or fundamental research, along with sentiment-based trading tools to gauge market positions. However, neither offers research tools from Trading Central or Acuity Trading, nor do they provide insights from TipRanks. Still, they make up for these with user-friendly economic calendars showcasing important global events, ensuring traders can make informed decisions.
In terms of user satisfaction and overall research quality, both CMC Markets and OANDA are top-tier. They each boast a perfect five-star rating for research. However, when it comes to rankings from ForexBrokers.com, there is a slight difference. OANDA edges out CMC Markets by a hair, securing the 5th spot among 62 brokers, while CMC Markets closely trails at 6th place. Therefore, while both brokers offer commendable tools and resources to empower traders, OANDA holds a slightly higher regard in the research category according to expert reviews.
| 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 it comes to educational resources for beginners, both CMC Markets and OANDA offer a solid array of learning materials. CMC Markets provides more than 10 educational articles, videos, and archived webinars that help newcomers understand forex and CFDs. Similarly, OANDA offers a comparable set of educational pieces that focus on the same subjects, ensuring you have plenty to learn from. Both brokers also feature a searchable archive of recorded webinars, making it easy for users to revisit various topics at their convenience. However, OANDA distinguishes itself by hosting live educational webinars each month, a feature that CMC Markets does not offer, giving OANDA users the chance to engage with instructors in real-time.
For those looking for a more visual learning experience, both brokers offer more than 10 beginner-focused videos covering trading basics, along with advanced video content aimed at more experienced traders. Additionally, their investor dictionaries, each boasting over 50 investing term definitions, serve as handy resources for users seeking to broaden their terminology knowledge. Despite both attaining a commendable five-star rating for education, CMC Markets ranks higher than OANDA, securing the 10th position out of 62 brokers on ForexBrokers.com while OANDA holds the 22nd spot. This indicates CMC Markets may offer a slightly superior educational experience overall.
| 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 62 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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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 | |
| 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 | 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 |
| 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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