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OANDA vs FP Markets 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

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 RatingOANDAFP Markets
Overall Rating 4.5/5 Stars 4.5/5 Stars
Commissions & Fees 4/5 Stars 5/5 Stars
Offering of Investments 3.5/5 Stars 4.5/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 4/5 Stars
Education 4/5 Stars 4/5 Stars
Trust Score 92 86
Winner check_circle
Review OANDA Review FP Markets Review
RegulationOANDAFP Markets
Trust Score 92 86
Year Founded 1996 2005
Publicly Traded (Listed) No No
Bank No No
Authorised in European Union Yes info Yes info
Tier-1 Licenses 6 1
Tier-2 Licenses 0 2
Tier-3 Licenses 1 0
Tier-1 Licenses (High Trust)OANDAFP 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)OANDAFP 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)OANDAFP Markets
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
InvestmentsOANDAFP 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).
CostOANDAFP Markets
Average Spread EUR/USD - Standard 1.26 info 1.2 info
All-in Cost EUR/USD - Active 1.26 info 0.7 info
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker No No
Execution: Market Maker Yes Yes
FundingOANDAFP 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 PlatformsOANDAFP 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 ToolsOANDAFP Markets
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 TradingOANDAFP Markets
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
ResearchOANDAFP 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
EducationOANDAFP 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 PairsOANDAFP 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
OverallOANDAFP Markets
Overall Rating 4.5/5 Stars 4.5/5 Stars
Commissions & Fees 4/5 Stars 5/5 Stars
Offering of Investments 3.5/5 Stars 4.5/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 4/5 Stars
Education 4/5 Stars 4/5 Stars
Trust Score 92 86
Winner check_circle
Review OANDA Review FP Markets Review
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OANDA vs FP Markets Comparison

Comparing 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.

Does OANDA or FP Markets 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, FP Markets offers better pricing overall for traders.

Is OANDA or FP Markets 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 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.

Which trading platform is better: OANDA or 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.

What about MetaTrader and copy trading?

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.

How many forex pairs and CFDs are available to trade?

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.

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).

Can I trust FP Markets?

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).

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.

Is FP Markets good?

FP Markets shines as a low-cost broker for trading forex and CFDs โ€“ as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but itโ€™s mostly a share trading platform โ€“ and is generally a much pricier option.

Overall winner: OANDA

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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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