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 is the pricing standout in this matchup, taking the top spot in our 2025 Annual Awards for Commissions and Fees. It earns 5/5 stars and ranks #4 out of 63 brokers for this category, while OANDA earns 4/5 stars and ranks #30 out of 63. In short: CMC Markets tends to deliver lower all-in trading costs, whereas OANDA’s fees are generally higher but paired with flexible trade sizes and an active-trader rebate option.
CMC Markets’ typical EUR/USD spread was 0.61 pips (Aug 2023). Its FX Active plan charges $2.50 per side with minimum spreads from 0.0, giving an estimated 0.5 pip all-in cost on EUR/USD and several other major pairs. Example: NZD/USD falls from about 1.5 pips on the standard account to roughly 0.5 pips all-in with FX Active. CMC’s averages have historically stayed close to its minimums, which helps keep delivered costs low. High-volume traders can also tap the Price Plus Scheme for tiered spread discounts based on monthly trading activity.
OANDA’s default spreads are higher; for example, the average EUR/USD spread was about 1.61 pips in July 2024. Its Core Pricing plan narrows the spread (e.g., to around 0.4 pips) but adds a $5-per-side commission per $100,000 traded, for about 1.4 pips all-in in this example; a $10,000 minimum deposit applies. OANDA stands out for flexibility with trade sizes down to a single unit and offers Elite Trader rebates ($5–$17 per million) in select regions. It also posts trailing average spreads for transparency, though the lack of fixed-period averages can make apples-to-apples comparisons harder.
| 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.
Comparing CMC Markets vs OANDA on range of investments, CMC Markets stands out for sheer choice. It lists 12,029 tradeable symbols and 141 forex pairs, while OANDA offers 4,172 symbols and 69 forex pairs. Both brokers support forex trading as CFDs and spot contracts, give access to exchange-traded securities on U.S. and international exchanges (think Apple on NASDAQ and Vodafone in London), and provide copy trading.
For crypto, both brokers offer cryptocurrency CFDs, but only OANDA lets you buy actual crypto. Reflecting the breadth of each lineup, CMC Markets is rated 5 out of 5 stars and ranks 9th out of 63 for Range of Investments at ForexBrokers.com, while OANDA earns 4 out of 5 stars and ranks 20th. In short, choose CMC Markets for the largest selection, or pick OANDA if owning real crypto alongside FX and CFDs is a priority.
| 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 check the key boxes for traders who care about platforms and tools. Each broker offers a free demo (paper) account, an in-house trading platform alongside MetaTrader 4 and MetaTrader 5, and access on both Windows desktop and the web. You can copy trade, place orders directly from charts, and use charting tools and customizable watch lists on either brand, so switching between them won’t require relearning the basics.
Where they differ is in third-party scores. For Trading Platforms and Tools, ForexBrokers.com rates CMC Markets at 5 stars and ranks it #6 out of 63 brokers, while OANDA earns 4 stars and ranks #16. In short, both are capable choices with wide platform coverage and popular integrations, but CMC Markets edges ahead in independent reviews, making it a strong pick if platform features are your top priority.
| 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.
Choosing between CMC Markets and OANDA for learning forex and CFDs? Both brokers deliver strong education for beginners. Each offers at least ten beginner-focused videos plus a deep catalog for experienced traders, and both earn a 5-star Education rating. In ForexBrokers.com’s 63-broker lineup, CMC Markets ranks #10 for Education, while OANDA ranks #18—giving CMC a slight edge in overall placement—yet both are solid picks for building skills from basics to advanced topics.
For ongoing instruction, OANDA hosts online educational webinars at least once a month—great if you like live lessons and the chance to ask questions. CMC Markets does not run monthly client webinars, so its path leans more on on-demand videos and other self-study content. If you prefer live sessions, OANDA may suit you better; if you’re happy to learn through videos at your own pace, CMC Markets remains a great option.
| 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 | 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 (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 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 | 1.68 | |
| 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 | 93 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | OANDA Review |
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