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FOREX.com vs OANDA 2022

ForexBrokers.com

Written by ForexBrokers.com

November 08, 2022

Is FOREX.com better than OANDA? In our analysis of 23 international regulators across 39 of the best forex brokers, FOREX.com is considered low-risk, with an overall Trust Score of 99 out of 99. OANDA is considered low-risk, with an overall Trust Score of 92 out of 99. Learn more about Trust Score.

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Overall RatingFOREX.comOANDAIG
Overall Rating5 Stars4.5 Stars5 Stars
Commissions & Fees4.5 Stars4 Stars5 Stars
Offering of Investments5 Stars3.5 Stars5 Stars
Platform & Tools5 Stars4 Stars5 Stars
Mobile Trading5 Stars4.5 Stars5 Stars
Research4.5 Stars4.5 Stars5 Stars
Education4.5 Stars4 Stars5 Stars
Trust Score999299
Winnercheck_circle
ReviewFOREX.com ReviewOANDA ReviewIG Review
RegulationFOREX.comOANDAIG
Trust Score999299
Year Founded199919961974
Publicly Traded (Listed)YesNoYes
BankNoNoYes
Tier-1 Licenses467
Tier-2 Licenses202
Tier-3 Licenses111
Authorised in European UnionYesYesYes
About RegulationA โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.
Tier-1 Licenses (High Trust)FOREX.comOANDAIG
ASIC Authorised (Australia)NoYesYes
IIROC Authorised (Canada)YesYesNo
SFC Authorised (Hong Kong)NoNoNo
CBI Authorised (Ireland)NoNoNo
FSA Authorised (Japan)YesYesYes
MAS Authorised (Singapore)NoYesYes
FINMA Authorised (Switzerland)NoNoYes
FCA Authorised (U.K.)YesYesYes
CFTC Registered (USA)YesYesYes
FMA Authorised (New Zealand)NoNoYes
Tier-2 Licenses (Average Trust)FOREX.comOANDAIG
CBRC Authorised (China)NoNoNo
CySEC Authorised (Cyprus)YesNoNo
SEBI Authorised (India)NoNoNo
ISA Authorised (Israel)NoNoNo
CBR Authorised (Russia)NoNoNo
FSCA Authorised (South Africa)NoNoYes
SEC Authorised (Thailand)NoNoNo
DFSA / Central Bank Authorised (UAE)YesNoYes
Tier-3 Licenses (Low Trust)FOREX.comOANDAIG
SCB Authorised (Bahamas)NoNoNo
IFSC Authorised (Belize)NoNoNo
CIMA Authorised (Cayman Islands)YesNoNo
BMA Authorised (Bermuda)NoNoYes
FSC Authorised (British Virgin Islands)NoYesNo
FSC Authorised (Mauritius)NoNoNo
VFSC Authorised (Vanuatu)NoNoNo
InvestmentsFOREX.comOANDAIG
Forex Trading (Spot or CFDs)YesYesYes
Tradeable Symbols (Total)550012419537
Forex Pairs (Total)9171100
U.S. Stock Trading (Non CFD)NoNoYes
Int'l Stock Trading (Non CFD)NoNoYes
Social Trading / Copy TradingNoYesYes
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
DisclaimersNote: 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).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).
CostFOREX.comOANDAIG
Average Spread EUR/USD - Standard1.0 (July 2022)1.26 (5/22-5/27/22)0.86 (September 2022)
All-in Cost EUR/USD - Active1.0 (July 2022)1.26 (5/22-5/27/22)0.5957 (September 2022)
Active Trader or VIP DiscountsYesYesYes
Execution: Agency BrokerNoNoYes
Execution: Market MakerYesYesYes
FundingFOREX.comOANDAIG
Minimum Initial Deposit$100$0ยฃ250.00
PayPal (Deposit/Withdraw)YesYesYes
Skrill (Deposit/Withdraw)NoYesNo
Visa/Mastercard (Credit/Debit)YesYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Trading PlatformsFOREX.comOANDAIG
Proprietary PlatformYesYesYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
Social Trading / Copy TradingNoYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)YesYesNo
cTraderNoNoNo
DupliTradeNoNoNo
ZuluTradeNoYesNo
Trading ToolsFOREX.comOANDAIG
Virtual Trading (Demo)YesYesYes
Alerts - Basic FieldsYesYesYes
Watchlists - Total Fields20614
Charting - Indicators / Studies (Total)2038133
Charting - Drawing Tools (Total)2543120
Charting - Trade From ChartYesYesYes
Charts can be savedYesYesYes
Mobile TradingFOREX.comOANDAIG
Android AppYesYesYes
Apple iOS AppYesYesYes
Mobile Alerts - Basic FieldsYesYesYes
Mobile WatchlistYesYesYes
Watchlist SyncingYesNoYes
Mobile Charting - Indicators / Studies883333
Mobile Charting - Draw TrendlinesYesYesYes
Mobile Charting - Multiple Time FramesYesYesYes
Mobile Charting - Drawings AutosaveYesYesYes
Forex CalendarYesYesYes
ResearchFOREX.comOANDAIG
Daily Market CommentaryYesYesYes
Forex News (Top-Tier Sources)YesYesYes
AutochartistNoYesYes
Trading Central (Recognia)YesNoNo
Social Sentiment - Currency PairsYesYesYes
Economic CalendarYesYesYes
EducationFOREX.comOANDAIG
Has Education - Forex or CFDsYesYesYes
Client WebinarsYesYesYes
Client Webinars (Archived)NoYesYes
Videos - Beginner Trading VideosYesYesYes
Videos - Advanced Trading VideosNoYesYes
Investor Dictionary (Glossary)YesYesYes
Major Forex PairsFOREX.comOANDAIG
GBP/USDYesYesYes
USD/JPYYesYesYes
EUR/USDYesYesYes
USD/CHFYesYesYes
USD/CADYesYesYes
NZD/USDYesYesYes
AUD/USDYesYesYes
ReviewFOREX.com ReviewOANDA ReviewIG Review
OverallFOREX.comOANDAIG
Overall Rating5 Stars4.5 Stars5 Stars
Commissions & Fees4.5 Stars4 Stars5 Stars
Offering of Investments5 Stars3.5 Stars5 Stars
Platform & Tools5 Stars4 Stars5 Stars
Mobile Trading5 Stars4.5 Stars5 Stars
Research4.5 Stars4.5 Stars5 Stars
Education4.5 Stars4 Stars5 Stars
Trust Score999299
Winnercheck_circle
ReviewFOREX.com ReviewOANDA ReviewIG Review
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FOREX.com vs OANDA Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare FOREX.com vs OANDA.

Does FOREX.com or OANDA offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, IG offers better pricing overall for traders.

Is FOREX.com or OANDA safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. OANDA holds 6 global Tier-1 licenses, while FOREX.com holds 4. FOREX.com holds 2 global Tier-2 licenses, while OANDA holds 0. In our analysis of 23 international regulators across 50 brokers, FOREX.com earned a higher Trust Score than OANDA.

Which trading platform is better: FOREX.com or OANDA?

To compare the trading platforms of both FOREX.com and OANDA, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, IG offers a better experience. With research, IG offers superior market research. Finally, we found IG to provide better mobile trading apps.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Both FOREX.com and OANDA offer MetaTrader 4 (MT4).Copy trading is not offered by either broker.

How many forex pairs and CFDs are available to trade?

FOREX.com provides traders 91 currency pairs (e.g., EUR/USD) compared to OANDA's 71 available pairs. Forex pairs aside, FOREX.com offers traders access to 5500 CFDs while OANDA has 124 available CFDs, a difference of 5376.

Can I trust FOREX.com?

FOREX.com is publicly traded, does not operate a bank, and is authorised by four tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulator (low trust). City Index is authorised by the following tier-1 regulators: Investment Industry Regulatory Organization of Canada (IIROC), Japanese Financial Services Authority (JFSA), Financial Conduct Authority (FCA), and the Commodity Futures Trading Commission (CFTC).

Can I trust OANDA?

OANDA is not publicly traded and does not operate a bank. OANDA is authorised by six tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulators (low trust). OANDA is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Investment Industry Regulatory Organization of Canada (IIROC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Financial Conduct Authority (FCA), and the Commodity Futures Trading Commission (CFTC).

Is FOREX.com good?

FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms โ€“ alongside limited access to MetaTrader.

Is OANDA good?

A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.

Overall winner: IG

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We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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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