Written by ForexBrokers.com
In this head to head comparison of FOREX.com 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 considering online brokers, both FOREX.com and OANDA stand out for their trustworthiness and longevity. Founded in 1999 and publicly traded, FOREX.com offers a wide range of trading options and has established itself as a reputable platform. Meanwhile, OANDA, established in 1996, maintains a private structure. Neither of these brokers are banks, but both are well-regulated and reliable for traders. FOREX.com holds an impressive seven Tier-1 licenses and one Tier-2 license, securing a perfect Trust Score of 99 out of 99 according to ForexBrokers.com.
On the other hand, OANDA, like FOREX.com, holds seven Tier-1 licenses but none at the Tier-2 level. With a Trust Score of 93 out of 99, OANDA is also considered highly trusted, though slightly behind FOREX.com in ForexBrokers.com’s ratings. The comparison indicates both brokers are excellent choices for trading, each regulated and reputable, with FOREX.com having a slight edge due to its public trading status and higher trust score.
| Feature |
FOREX.com
|
OANDA
|
|---|---|---|
| Year Founded | 1999 | 1996 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 7 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the commissions and fees of FOREX.com and OANDA, traders will find that both brokers have unique offerings but with some differences in cost-effectiveness. FOREX.com is known for its multiple account types, including the Standard and RAW accounts. While the Standard account is the only option for MetaTrader clients and comes with relatively high spreads of 1.4 pips for EUR/USD in the U.S., the RAW account provides lower spreads, averaging 0.13 pips but with added commissions. This makes FOREX.com appealing to high-volume traders, especially those who can surpass $50 million in monthly trades to benefit from discounts. This setup earns FOREX.com a commendable rating of 4.5 stars and a rank of 13th out of 63 brokers by ForexBrokers.com.
In contrast, OANDA's pricing structure is slightly above average, with effective spreads higher than its main competitors. The broker offers spreads of 1.61 pips for EUR/USD under default pricing. For traders considering the core pricing plan, the spreads are reduced to 0.4 pips, but a commission of $5 per $100,000 is applicable. When factoring in these commissions, the total cost slightly undercuts the default spreads, bringing it down to 1.4 pips for core pricing. OANDA supports smaller trade sizes down to individual units and offers the Elite Trader program, providing tiered rebates from $5 to $17 per million for qualified traders. Despite higher costs, OANDA is awarded a respectable 4-star rating and ranks 34th by ForexBrokers.com for its efforts to enhance transparency through regular spread data publication.
Both brokers cater to different trading styles, with FOREX.com appearing more suitable for frequent and high-volume traders due to its RAW account benefits, and OANDA appealing to those who prioritize automated execution and smaller trade sizes. Ultimately, traders should assess which broker aligns best with their trading strategy and cost preferences. While FOREX.com may provide greater value for large-scale trading, OANDA offers more flexibility for those starting at a lower capital threshold but who value pricing transparency.
| Feature |
FOREX.com
|
OANDA
|
|---|---|---|
| Minimum Deposit | $100 | $0 |
| Average Spread EUR/USD - Standard | 1.4 | 1.61 |
| All-in Cost EUR/USD - Active | 0.9 | 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 comparing the range of investments offered by FOREX.com and OANDA, both platforms stand out with significant forex trading opportunities. FOREX.com provides an impressive selection with over 5,500 tradeable symbols, including 91 forex pairs. In contrast, OANDA offers a respectable 3,928 tradeable symbols with 68 forex pairs. While both platforms do not offer direct exchange-traded securities on U.S. or international exchanges, FOREX.com excels in the breadth of its trading options, contributing to its higher rating and ranking for investment range. Additionally, both platforms offer cryptocurrency derivatives, though only OANDA provides the option to buy actual cryptocurrency.
FOREX.com earns a distinguished 5-star rating for its range of investments, holding the #7 spot out of 63 brokers according to ForexBrokers.com. This higher rating can be attributed to its extensive list of tradeable instruments. On the other hand, OANDA, while also offering a diverse set of trading options, receives a 4-star rating and is ranked #27 in the same category. Noteworthy for investors interested in copy trading, OANDA offers this feature, which is absent from FOREX.com’s offerings. These distinctions highlight the strengths and limitations of each platform in accommodating various trading preferences.
| Feature |
FOREX.com
|
OANDA
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5500 | 3928 |
| Forex Pairs (Total) | 91 | 68 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | No | 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.
FOREX.com and OANDA both offer a variety of trading platforms and tools catering to traders of different experience levels. Both brokers provide a proprietary platform, allowing users to explore features developed specifically for their service. They support popular platforms like MetaTrader 4 and MetaTrader 5 and offer free virtual demo accounts, which are fantastic for honing trading skills without financial risk. While both provide Windows-based downloads and web-based platforms, only OANDA offers copy trading capabilities, giving users the option to mimic successful traders' strategies directly. However, neither broker supports DupliTrade or ZuluTrade, limiting some automated trading options.
When it comes to charting tools, OANDA outshines with 431 drawing tools compared to FOREX.com's 239, but FOREX.com offers an impressive array of 20 fields for watch lists against OANDA's 6. Both brokers allow traders to execute trades directly from stock charts, which is a helpful feature for quick decision-making. FOREX.com receives a top score of 5 stars for its trading platforms and tools, ranking #7 out of 63 brokers on ForexBrokers.com, showcasing its strong reputation in the industry. OANDA, while commendable with a 4-star rating and a rank of #15, slightly trails behind its competitor in this comparison.
| Feature |
FOREX.com
|
OANDA
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 88 | 81 |
| Charting - Drawing Tools (Total) | 239 | 431 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 20 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FOREX.com and OANDA offer comprehensive mobile trading apps for iPhone and Android users, ensuring you have the freedom to trade on-the-go. Whether you're interested in forex or stocks, these apps provide real-time alerts, customizable watchlists, and time frame viewing options to keep you informed of market shifts. While both apps are highly rated, each offering 5-star performance, FOREX.com stands out with some additional features that might appeal to more technical traders.
Notably, FOREX.com provides 88 technical studies for charting compared to OANDA's 30, offering a broader scope for in-depth analysis. The FOREX.com app also enables seamless watchlist symbol syncing between mobile and online accounts, an advantage over OANDA in terms of keeping your trading data consistent across platforms. Both apps allow for drawing trendlines and auto-saving these drawings, but FOREX.com ranks #3 among 63 brokers for mobile trading apps according to ForexBrokers.com, slightly ahead of OANDA's #7 ranking. Whether you are new to trading or an experienced investor, both platforms have much to offer, but FOREX.com might be better suited for those prioritizing deeper analytical tools and seamless integration.
| Feature |
FOREX.com
|
OANDA
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 88 | 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.
FOREX.com and OANDA both excel in providing comprehensive market research tools for traders, though their offerings differ slightly. Each platform presents daily market commentary and global economic calendars, along with forex news from renowned sources like Bloomberg and Reuters. Both brokers feature a sentiment-based trading tool, which offers insights into long or short positions across currency pairs. However, when it comes to technical analysis tools, FOREX.com supports Trading Central's offerings, whereas OANDA partners with Autochartist. Neither service currently provides market research from TipRanks or Acuity Trading tools.
In terms of overall research ratings and rankings, both FOREX.com and OANDA perform exceptionally well, with FOREX.com earning a 4.5-star rating and securing the 9th spot out of 63 brokers on ForexBrokers.com. OANDA, on the other hand, garners a 5-star rating, placing it 5th. These rankings illustrate each broker's commitment to supplying traders with valuable, timely information, making both worthy considerations for those seeking reliable market insights.
| Feature |
FOREX.com
|
OANDA
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | 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 comparing the educational resources for beginners offered by FOREX.com and OANDA, both platforms demonstrate a strong commitment to educating their users. Each broker provides more than 10 educational pieces focused on forex and CFDs, such as articles, videos, and archived webinars. They also conduct client webinars at least once a month and maintain searchable archives for past sessions. Both brokers offer a variety of videos tailored to beginners and advanced traders, covering essential trading topics. Additionally, each provides an investor dictionary featuring definitions of over 50 investing terms, helping newcomers become familiar with trading jargon.
Despite these similarities, there are differences in how these offerings are rated. FOREX.com is rated 4.5 stars for education, while OANDA boasts a higher rating of 5 stars. However, in rankings provided by ForexBrokers.com, FOREX.com stands at a more prominent #4 position for education, compared to OANDA's #22 ranking. This indicates that while OANDA users might find their educational materials slightly more satisfying, FOREX.com is more highly regarded by industry experts in the education category. Each broker has unique strengths, so beginners should consider what specific features align best with their learning needs.
| Feature |
FOREX.com
|
OANDA
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | 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 63 of the best forex brokers, our research and account testing finds that FOREX.com is better than OANDA. FOREX.com finished with an overall rank of #5, while OANDA finished with an overall rank of #12.
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 – alongside limited access to MetaTrader.
| Feature |
FOREX.com
|
OANDA
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 93 |
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While both FOREX.com and OANDA offer the ability to trade cryptocurrency derivatives, only OANDA provides the option to buy actual delivered cryptocurrency, whereas FOREX.com does not.
Both FOREX.com and OANDA provide versatile options for depositing and withdrawing account funds, including ACH or SEPA transfers, PayPal, Visa, Mastercard, and bank wires; however, only OANDA offers the option to use Skrill.
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 | FOREX.com | OANDA | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | OANDA Review |
| Broker Screenshots | FOREX.com | OANDA | |
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| Regulation | FOREX.com | OANDA | |
|---|---|---|---|
| Trust Score | 99 | 93 | |
| Year Founded | 1999 | 1996 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 7 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | FOREX.com | OANDA | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | Yes | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | Yes | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FOREX.com | 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 | FOREX.com | OANDA | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5500 | 3928 | |
| Forex Pairs (Total) | 91 | 68 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | No | 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 | FOREX.com | OANDA | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | 1.61 | |
| All-in Cost EUR/USD - Active | 0.9 | 1.61 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FOREX.com | OANDA | |
|---|---|---|---|
| Minimum Deposit | $100 | $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 | FOREX.com | OANDA | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FOREX.com | OANDA | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 20 | 6 | |
| Charting - Indicators / Studies (Total) | 88 | 81 | |
| Charting - Drawing Tools (Total) | 239 | 431 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FOREX.com | 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 | 88 | 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 | FOREX.com | OANDA | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FOREX.com | OANDA | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | 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 | FOREX.com | 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 | FOREX.com Review | OANDA Review |
| Overall | FOREX.com | OANDA | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | OANDA Review |
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