Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare Forex.com (GAIN Capital) vs OANDA.
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. Forex.com (GAIN Capital) received a rating of 4.50 stars over OANDA's 3.50 stars.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. Forex.com (GAIN Capital) and OANDA both are regulated in a major hub. Forex.com (GAIN Capital) is a publicly traded company, OANDA isn't. How many currency pairs are available to trade? Forex.com (GAIN Capital) offers its clients access to 84 different currency pairs while OANDA has 71 available pairs, a difference of 13.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. Forex.com (GAIN Capital) alongside OANDA offer Meta Trader. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Forex.com (GAIN Capital) and OANDA offer the same number of charting tools, 31. Both brokers offer clients access to the same number of indicators (eg, moving averages), 51.
Overall, Forex.com (GAIN Capital) comes out on top with 4.50 stars over OANDA's 4.00 stars. And, when it comes to individual category awards, Forex.com (GAIN Capital) was rated Best in Class - Research and Best in Class - Investor Education in 2018, while OANDA was rated none of these.