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 |
On pricing, FP Markets comes out cheaper than OANDA for most forex traders. FP Markets earns 5/5 stars for Commissions and Fees and ranks #11 of 63 brokers with ForexBrokers.com, while OANDA earns 4/5 stars and ranks #30 of 63. Using the popular EUR/USD pair as a guide, FP Markets’ Raw ECN account averaged about 0.1 pips (October 2023) and, after its $6 round-turn commission, works out to roughly 0.8 pips all-in. OANDA’s typical spread in its commission-free setup was about 1.61 pips in July 2024. Even OANDA’s Core pricing—about 0.4 pips plus a $10 round-turn per standard lot—lands near 1.4 pips all-in, which is still higher than FP Markets’ Raw ECN.
At OANDA, you can choose commission-free pricing with wider spreads or Core pricing with lower spreads and a $5 per side fee per $100,000 traded, but Core requires a $10,000 minimum deposit. OANDA shines for flexibility: you can trade position sizes as small as 1 unit, and high-volume clients may qualify for Elite rebates of $5 to $17 per million, plus potential TradingView subscription perks. OANDA publishes trailing average spreads across many time frames, though it does not provide a fixed-period average, which makes apples-to-apples comparisons harder.
FP Markets focuses on ECN-style pricing through MetaTrader and cTrader. The Raw account uses tight spreads with a flat $6 round-turn commission; the Standard account is spread-only and averaged about 1.1 pips on EUR/USD (October 2023). For shares, its Iress suite offers DMA pricing with depth of book, but platform and data fees can apply unless you qualify for the Premier tier or generate at least AUD 150 in monthly commissions; the low-cost Iress Investor option waives monthly fees but has fewer features. FP Markets also won Best in Class for Commissions and Fees in the 2024 Annual Awards.
| Feature |
OANDA
|
FP Markets
|
|---|---|---|
| Minimum Deposit | $0 | $100 AUD |
| Average spread (EUR/USD) - Standard account | 1.68 | 1.3 |
| All-in Cost EUR/USD - Active | 1.69 | 0.9 |
| 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 vs FP Markets for range of investments: both brokers offer forex via CFDs and spot trading. FP Markets lists more tradeable symbols overall (about 10,000 vs OANDA’s 4,172) and slightly more forex pairs (71 vs 69). That broader catalog helps explain FP Markets’ higher Range of Investments score (4.5/5, ranked #16 of 63) compared with OANDA (4/5, ranked #20 of 63).
OANDA stands out for access to exchange-traded securities: you can buy actual U.S. and international shares, which FP Markets doesn’t offer. OANDA also lets you buy real cryptocurrency, while FP Markets limits crypto to CFDs; both brokers support crypto CFDs and copy trading. In short, pick FP Markets if you want a very large selection of CFD instruments, or choose OANDA if you want listed stocks and delivered crypto alongside forex.
| Feature |
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). |
Dive deeper: Best Copy Trading Platforms.
OANDA and FP Markets line up closely on trading platforms and tools. Both offer free demo (paper) accounts, their own proprietary platforms, Windows desktop software, and web-based platforms. You’ll also find copy trading alongside the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Each broker lets you place trades directly from charts, covering the essentials many traders look for when analyzing and executing ideas.
For quality scores, both earn 4 stars for Trading Platforms and Tools. In ForexBrokers.com’s 2025 rankings, OANDA is placed #16 out of 63 brokers, while FP Markets is #22. If you want a slight edge in third-party rankings, OANDA gets the nod; if you simply need MT4/MT5, copy trading, and both web and desktop access, FP Markets offers a comparable toolkit. Your choice may come down to which platform layout you prefer when you test each broker’s free demo.
| 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.
OANDA and FP Markets both offer mobile trading apps for iPhone and Android, and each supports price alerts to help you track forex and other markets on the go. One limitation to note: neither broker syncs watchlists between mobile and web/desktop, so any changes you make won’t carry over automatically.
For charting, OANDA’s app includes 30 technical studies, while FP Markets relies on MetaTrader’s default indicator set. Both apps let you draw trendlines and will auto-save your chart annotations. According to ForexBrokers.com, OANDA’s mobile app earns 5 stars and ranks #7 out of 63 brokers for Mobile Trading Apps, whereas FP Markets earns 4 stars and ranks #20.
| 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.
OANDA and FP Markets both deliver daily market commentary, real-time forex news from top-tier sources such as Bloomberg, Reuters, or Dow Jones, and access to Autochartist for trade ideas and pattern recognition. Each broker also offers a sentiment tool that shows long vs. short positioning and provides a handy economic calendar. One key difference: FP Markets includes Trading Central research, while OANDA does not. Neither broker offers research from TipRanks or tools from Acuity Trading.
For overall research quality, OANDA earns 5 stars and ranks #4 out of 63 brokers on ForexBrokers.com, while FP Markets earns 4 stars and ranks #22. If Trading Central is essential to your workflow, FP Markets stands out. If you want higher-rated, wide-ranging in-house and third-party research with strong news coverage and tools like Autochartist and sentiment, OANDA is the stronger pick.
| 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.
Comparing OANDA vs FP Markets for beginner education: both brokers provide a dedicated forex and CFD education library with at least 10 pieces of content, plus monthly live webinars. Each also offers more than 10 beginner-friendly videos to help new traders learn the basics, along with 10+ advanced videos for when you’re ready to go deeper. If you’re just starting out, you’ll find active schedules and plenty of videos at both brands.
When it comes to quality, OANDA earns a higher score: 5 stars for Education and a #18 ranking out of 63 brokers on ForexBrokers.com. FP Markets also performs well, with 4 stars and a #22 ranking. In simple terms, OANDA gets the edge for overall educational experience, while FP Markets still delivers a strong lineup of webinars and videos for beginners.
| 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 #13, 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
|
FP Markets
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 93 | 89 |
| Range of Investments |
|
|
| Trading Fees |
|
|
| Trading Platforms |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | OANDA | FP Markets | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 93 | 89 | |
| Winner | check_circle | ||
| Review | OANDA Review | FP Markets Review |
| Broker Screenshots | OANDA | FP Markets | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| 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 (FSA 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 | 1.68 | 1.3 | |
| All-in Cost EUR/USD - Active | 1.69 | 0.9 | |
| 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 | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 93 | 89 | |
| Winner | check_circle | ||
| Review | OANDA Review | FP Markets Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Pepperstone
FP Markets
Tickmill