Written by ForexBrokers.com
In this head to head comparison of OANDA vs FP Markets, 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.
OANDA, established in 1996, and FP Markets, founded in 2005, are both well-regarded online brokers, though neither is publicly traded nor operates as a bank. In terms of regulatory credentials, OANDA stands out with seven Tier-1 licenses, reflecting a high level of trust according to ForexBrokers.com, which gives it a Trust Score of 93 out of 99. Meanwhile, FP Markets holds two Tier-1 licenses and one Tier-2 license, earning a solid Trust Score of 89, placing it in the trusted category.
Despite both companies having reputable standings in the trading world, OANDA's higher number of Tier-1 licenses gives it the edge in terms of regulatory trust. However, FP Markets remains a trusted option with its blend of Tier-1 and Tier-2 licenses, offering a slightly different profile for traders considering their options. Each broker provides a secure trading environment per their regulatory status, but OANDA's larger portfolio of high-trust licenses may offer additional peace of mind.
| Feature |
OANDA
|
FP Markets
|
|---|---|---|
| Year Founded | 1996 | 2005 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
Comparing OANDA vs FP Markets on commissions and fees, FP Markets comes out cheaper for most forex traders. FP Markets earns 5/5 stars and ranks #6 of 63 for Commissions and Fees, thanks to its low-cost Raw ECN account. OANDA earns 4/5 stars and ranks #35 of 63; its pricing is generally higher, though it offers flexible trade sizes and clear execution.
OANDA’s default spreads are on the higher side (e.g., EUR/USD averaged 1.61 pips in July 2024). Its Core Pricing lowers the spread but adds a commission of $5 per side per $100,000 traded ($10 per round turn), and requires a $10,000 minimum deposit. Using the EUR/USD example, a 0.4-pip spread plus about 1.0 pip in commission-equivalent puts the all-in cost near 1.4 pips—slightly better than its spread-only pricing at 1.6 pips. OANDA also lets you trade as small as 1 unit, and offers Elite Trader rebates of $5–$17 per million for high-volume traders. It publishes trailing average spreads for transparency, though not fixed-period averages.
FP Markets is priced to compete, especially on its commission-based Raw ECN account: average spreads around 0.1 pips on EUR/USD (about 0.8 pips all-in after commissions), with a flat $6 per round turn per standard lot on MetaTrader or cTrader. Its spread-only Standard account averages about 1.1 pips on EUR/USD. For share CFDs on Iress in Australia, platform and data fees can apply unless you meet higher activity or balance thresholds (Premier tier or at least AUD 150 in monthly commissions), so costs there favor active, higher-balance traders. Overall, for tight spreads and lower all-in costs, FP Markets is typically the more budget-friendly choice, while OANDA appeals with tiny trade sizes and volume-based rebates.
| Feature |
OANDA
|
FP Markets
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|---|---|---|
| Minimum Deposit | $0 | $100 AUD |
| Average spread (EUR/USD) - Standard account | 1.69 | 1.2 |
| All-in Cost EUR/USD - Active | 1.69 | 0.7 |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Comparing OANDA and FP Markets on range of investments, FP Markets lists more to trade overall, with 10,000 tradeable symbols and 71 forex pairs versus OANDA’s 4,172 symbols and 69 pairs. Both offer forex trading, whether as CFDs or spot contracts, and both support copy trading. For crypto, OANDA stands out by offering access to both real (delivered) cryptocurrencies and crypto CFDs, while FP Markets focuses on crypto CFDs only.
Stock access is a key divider: OANDA lets clients buy exchange-traded shares on U.S. markets (like Apple) and international exchanges (like Vodafone), whereas FP Markets does not offer exchange-traded securities. Reflecting this mix, ForexBrokers.com rates FP Markets 4.5 stars for Range of Investments (19th of 63) and OANDA 4 stars (28th of 63). Choose FP Markets if you want the widest instrument count and slightly more forex pairs, or pick OANDA if you want listed stocks and real crypto alongside CFDs.
| Feature |
OANDA
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FP Markets
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|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 10000 |
| Forex Pairs (Total) | 69 | 71 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | Yes | No |
| 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.
Comparing OANDA vs FP Markets for trading platforms and tools, both brokers check the key boxes. Each offers free paper trading with a demo account, a proprietary platform, Windows desktop and web-based platforms, plus industry staples MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Copy trading is available with both, and you can place trades directly from charts. While both deliver solid charting, the exact number of built-in technical indicators and watch list columns was not specified.
Independent ratings are close: OANDA and FP Markets each earned 4 out of 5 stars for Trading Platforms and Tools from ForexBrokers.com. In the same category, OANDA is ranked #15 out of 63 brokers, while FP Markets is #23. If you value a slightly higher third-party ranking, OANDA has an edge; if you’re focused on MT4/MT5 access, web and desktop options, copy trading, and demo practice, both brokers offer a similar experience.
| Feature |
OANDA
|
FP Markets
|
|---|---|---|
| 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) | 89 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Comparing OANDA vs FP Markets for mobile trading apps: both offer iPhone and Android apps and both support price alerts, so you can stay on top of forex or stock moves on the go. In independent testing, OANDA’s app earned 5 stars and ranks #7 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com, while FP Markets earned 4 stars and ranks #18. If you want a higher-rated, more polished mobile experience, OANDA has the edge.
For charting, OANDA’s app includes 30 built-in technical studies. FP Markets relies on MetaTrader’s default indicator set, which many traders already know. Both apps let you draw trendlines and will auto-save your drawings. One shared drawback: neither app syncs watchlists with the web platform, so changes you make on mobile won’t carry over to your online account. If you value a larger set of built-in studies and top-tier app ratings, choose OANDA; if you prefer MetaTrader’s familiar layout, FP Markets will feel right at home.
| Feature |
OANDA
|
FP Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | MetaTrader (Default) |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Comparing OANDA and FP Markets for market research, both brokers check key boxes: daily market commentary, forex news from top-tier sources like Bloomberg or Reuters, Autochartist tools, a sentiment gauge showing long/short positioning, and an easy-to-use economic calendar. Neither broker includes TipRanks or Acuity Trading. One difference stands out: FP Markets offers Trading Central research, while OANDA does not.
When it comes to independent ratings, OANDA earns 5 stars and ranks #4 out of 63 brokers for Research on ForexBrokers.com. FP Markets earns 4 stars and ranks #25. If you want Trading Central, FP Markets has the edge; if you want higher-rated research overall, OANDA comes out ahead.
| Feature |
OANDA
|
FP Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | No | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Both OANDA and FP Markets offer forex and CFD education with well over the minimum 10 pieces, including articles, videos, and archived webinars. Each broker hosts client webinars at least once per month and features large video libraries, with 10+ beginner videos to cover basics like platform setup, order types, and risk management, plus 10+ advanced videos for traders ready to dive into strategies and analysis.
For ratings, OANDA edges ahead with a 5-star Education score and a #19 rank out of 63 brokers at ForexBrokers.com. FP Markets is also a solid choice for learners, earning 4 stars and a #23 rank. In short, both are strong picks for beginners who want frequent webinars and plenty of videos, while OANDA gets the nod if you prefer the higher-rated and slightly higher-ranked education offering.
| Feature |
OANDA
|
FP Markets
|
|---|---|---|
| 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 OANDA is better than FP Markets. OANDA finished with an overall rank of #12, while FP Markets finished with an overall rank of #19.
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.
| Feature |
OANDA
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FP Markets
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| Trust Score | 93 | 89 |
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OANDA vs FP Markets: OANDA supports buying actual delivered cryptocurrencies in addition to trading cryptocurrency CFDs, whereas FP Markets offers only cryptocurrency CFD trading and does not provide the option to buy real, delivered crypto.
Comparing funding methods at online brokers OANDA and FP Markets: OANDA supports ACH and SEPA transfers while FP Markets does not; both brokers accept PayPal and Skrill for deposits and withdrawals, and both offer bank wire transfers.
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 | OANDA | FP Markets | |
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| Trust Score | 93 | 89 | |
| Winner | check_circle | ||
| Review | OANDA Review | FP Markets Review |
| Broker Screenshots | OANDA | FP Markets | |
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| Regulation | OANDA | FP Markets | |
|---|---|---|---|
| Trust Score | 93 | 89 | |
| Year Founded | 1996 | 2005 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | OANDA | FP Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | OANDA | FP Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | OANDA | FP Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4172 | 10000 | |
| Forex Pairs (Total) | 69 | 71 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | Yes | No | |
| 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 | OANDA | FP Markets | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.69 | 1.2 | |
| All-in Cost EUR/USD - Active | 1.69 | 0.7 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | OANDA | FP Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 AUD | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | OANDA | FP Markets | |
|---|---|---|---|
| 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 | Yes |
| Trading Tools | OANDA | FP Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 89 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | FP Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | MetaTrader (Default) | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | OANDA | FP Markets | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | No | Yes | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | FP Markets | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | OANDA | FP Markets | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | OANDA Review | FP Markets Review |
| Overall | OANDA | FP Markets | |
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| Trust Score | 93 | 89 | |
| Winner | check_circle | ||
| Review | OANDA Review | FP Markets Review |
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