Written by ForexBrokers.com
Is OANDA better than FP Markets? In our analysis of 23 international regulators across 62 of the best forex brokers, OANDA is considered low-risk, with an overall Trust Score of 92 out of 99. FP Markets is considered average-risk, with an overall Trust Score of 86 out of 99. Learn more about Trust Score.
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❯×| Overall Rating | OANDA | FP Markets | |
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| Trust Score | 92 | 86 | |
| Winner | check_circle | ||
| Review | OANDA Review | FP Markets Review |
| Regulation | OANDA | FP Markets | |
|---|---|---|---|
| Trust Score | 92 | 86 | |
| Year Founded | 1996 | 2005 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Authorised in European Union | Yes | Yes | |
| Tier-1 Licenses | 6 | 1 | |
| Tier-2 Licenses | 0 | 2 | |
| Tier-3 Licenses | 1 | 0 |
| Tier-1 Licenses (High Trust) | OANDA | FP Markets | |
|---|---|---|---|
| ASIC Authorised (Australia) | Yes | Yes | |
| IIROC Authorised (Canada) | Yes | No | |
| SFC Authorised (Hong Kong) | No | No | |
| CBI Authorised (Ireland) | No | No | |
| FSA Authorised (Japan) | Yes | No | |
| MAS Authorised (Singapore) | Yes | No | |
| FINMA Authorised (Switzerland) | No | No | |
| FCA Authorised (U.K.) | Yes | No | |
| CFTC Registered (USA) | Yes | No | |
| FMA Authorised (New Zealand) | No | No |
| Tier-2 Licenses (Average Trust) | OANDA | FP Markets | |
|---|---|---|---|
| CBRC Authorised (China) | No | No | |
| CySEC Authorised (Cyprus) | No | Yes | |
| SEBI Authorised (India) | No | No | |
| ISA Authorised (Israel) | No | No | |
| CBR Authorised (Russia) | No | No | |
| FSCA Authorised (South Africa) | No | Yes | |
| SEC Authorised (Thailand) | No | No | |
| DFSA / Central Bank Authorised (UAE) | No | No |
| Tier-3 Licenses (Low Trust) | OANDA | FP Markets | |
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| SCB Authorised (Bahamas) | No | No | |
| IFSC Authorised (Belize) | No | No | |
| CIMA Authorised (Cayman Islands) | No | No | |
| BMA Authorised (Bermuda) | No | No | |
| FSC Authorised (British Virgin Islands) | Yes | No | |
| FSC Authorised (Mauritius) | No | No | |
| VFSC Authorised (Vanuatu) | No | No |
| Investments | OANDA | FP Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 124 | 10000 | |
| Forex Pairs (Total) | 71 | 71 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | No | |
| Cryptocurrency (CFD) | 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 | 1.26 | 1.2 | |
| All-in Cost EUR/USD - Active | 1.26 | 0.7 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | FP Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 AUD | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
| Trading Platforms | OANDA | FP Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | OANDA | FP Markets | |
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| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 81 | 30 | |
| Charting - Drawing Tools (Total) | 431 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | FP Markets | |
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| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 33 | MetaTrader (Default) | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Forex Calendar | Yes | Yes |
| Research | OANDA | FP Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | FP Markets | |
|---|---|---|---|
| Has 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 | OANDA | FP Markets | |
|---|---|---|---|
| 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 | OANDA Review | FP Markets Review |
| Overall | OANDA | FP Markets | |
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| Overall Rating |
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| Commissions & Fees |
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| Offering of Investments |
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| Platform & Tools |
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| Mobile Trading |
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| Research |
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| Education |
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| Trust Score | 92 | 86 | |
| Winner | check_circle | ||
| Review | OANDA Review | FP Markets Review |
Compare
0 of 5Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare OANDA vs FP Markets.
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, FP Markets offers better pricing overall for traders.
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 FP Markets holds 1. FP Markets holds 2 global Tier-2 licenses, while OANDA holds 0. In our analysis of 23 international regulators across 50 brokers, OANDA earned a higher Trust Score than FP Markets.
To compare the trading platforms of both OANDA and FP Markets, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, OANDA offers a better experience. With research, OANDA offers superior market research. Finally, we found OANDA to provide better mobile trading apps.
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Both OANDA and FP Markets offer MetaTrader 4 (MT4).OANDA and FP Markets both offer copy trading.
OANDA and FP Markets offer traders the same number of currency pairs, 71. Forex pairs aside, FP Markets offers traders access to 10000 CFDs while OANDA has 124 available CFDs, a difference of 9876.
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).
FP Markets is not publicly traded and does not operate a bank. FP Markets is authorised by one tier-1 regulator (high trust), two tier-2 regulator (average trust), and zero tier-3 regulators (low trust). FP Markets is authorised by the following tier-1 regulator: Australian Securities & Exchange Commission (ASIC).
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.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
Overall winner: OANDA
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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