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) - Spread-only account | 1.3 | 1.68 |
| All-in Cost EUR/USD - Raw spread account | 1.15 | 1.69 |
| Non-wire bank transfer (Deposit/Withdraw) | 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 it comes to range of investments, CMC Markets has the edge over OANDA. Both online brokers let you trade forex as CFDs or spot contracts, and both also offer exchange traded securities on U.S. and international exchanges, so you can access shares like Apple and Vodafone. However, CMC Markets gives traders a much wider selection overall, with 21,710 tradeable symbols and 303 forex pairs, compared with OANDA’s 4,172 symbols and 69 forex pairs.
There are also a few product differences worth noting. OANDA offers copy trading and lets clients buy actual cryptocurrency, while CMC Markets does not offer either of those features. On the other hand, both brokers support cryptocurrency CFDs. These differences are reflected in their ratings, with CMC Markets earning 5 stars for Range of Investments and ranking #9 out of 36 brokers, while OANDA is rated 4.5 stars and ranked #20.
| Feature |
CMC Markets
|
OANDA
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 21710 | 4172 |
| Forex Pairs (Total) | 303 | 69 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | No | 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 full set of platform choices, including free demo accounts, their own in-house platforms, web-based trading, Windows desktop downloads, and access to MetaTrader 4 and MetaTrader 5. Each also lets users place trades directly from charts, which can make order entry faster and easier for active traders. In short, both brokers cover the basics well for beginners and experienced traders who want flexible trading platform options.
One key difference is copy trading: OANDA offers it, while CMC Markets does not. CMC Markets also stands out in independent reviews, earning 5 out of 5 stars for Trading Platforms and Tools and ranking #6 out of 36 brokers on ForexBrokers.com, compared with OANDA’s 4 out of 5 stars and #16 ranking. For traders comparing CMC Markets vs OANDA, the choice may come down to whether copy trading matters more than slightly stronger platform and tool ratings.
| 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 | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 65 | 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 stock and forex price alerts. Each app also lets users draw trendlines on charts, auto-saves those drawings, and includes 30 technical studies for chart analysis. Both brokers earn a top 5-star rating for mobile trading apps, showing that each platform gives traders a strong on-the-go experience.
The main difference is watchlist syncing. CMC Markets syncs watchlists between the mobile app and the online account, so changes update across both, while OANDA does not offer this feature. In ForexBrokers.com’s mobile trading apps ranking, CMC Markets places higher at #5 out of 36 brokers, compared with OANDA at #7, giving CMC Markets a slight edge for mobile app convenience and overall ranking.
| 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 | 30 | 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.
When comparing CMC Markets vs. OANDA for beginner education, both brokers offer a wide range of learning tools for new traders. Each provides forex and CFD education with at least 10 pieces of content, monthly educational webinars, and more than 10 beginner trading videos, along with 10 or more advanced videos for traders who want to go deeper. Both firms also earn 5 out of 5 stars for Education, which makes either one a strong choice for users looking to learn at their own pace.
That said, CMC Markets has the edge in overall education quality based on ForexBrokers.com’s rankings. CMC Markets is ranked #10 out of 36 brokers for Education, while OANDA is ranked #18 out of 36. For beginners, this suggests that both brokers are well suited for learning, but CMC Markets may offer a slightly stronger education experience overall.
| Feature |
CMC Markets
|
OANDA
|
|---|---|---|
| Webinars | Yes | 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) | 21710 | 4172 | |
| Forex Pairs (Total) | 303 | 69 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | No | 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) - Spread-only account | 1.3 | 1.68 | |
| All-in Cost EUR/USD - Raw spread account | 1.15 | 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 (Deposit/Withdraw) | Yes | Yes |
| Trading Platforms | CMC Markets | OANDA | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | 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) | 65 | 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 | 30 | 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 | Yes | 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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