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
|
|---|---|---|
| Minimum Deposit | $0 | $100 AUD |
| Average Spread EUR/USD - Standard | 1.69 | 1.2 |
| All-in Cost EUR/USD - Active | 1.69 | 0.7 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
OANDA vs FP Markets: which broker offers the wider range of investments? FP Markets lists more tradeable symbols (10,000 vs. OANDA’s 4,172) and slightly more forex pairs (71 vs. 69). Both brokers support forex trading via CFDs/spot. In the Range of Investments category at ForexBrokers.com, FP Markets earns 4.5 stars and ranks #19 out of 63 brokers, while OANDA holds 4 stars and ranks #28.
OANDA, however, stands out by offering exchange‑traded securities on both U.S. and international exchanges, letting clients buy actual shares (e.g., Apple or Vodafone)—a feature FP Markets does not provide. Both brokers offer copy trading and cryptocurrency derivatives, but only OANDA lets you buy actual crypto. Pick FP Markets if you value a larger overall CFD lineup; choose OANDA if access to real stocks and real crypto, alongside forex and CFDs, matters most.
| Feature |
OANDA
|
FP Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 10000 |
| Forex Pairs (Total) | 69 | 71 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | No |
| 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.
When comparing the trading platforms and tools offered by online brokers OANDA and FP Markets, both provide a high level of functionality across various aspects. Both brokers feature in-house proprietary platforms alongside industry favorites like MetaTrader 4 and MetaTrader 5. Traders can access a Windows-based desktop platform, as well as a web-based alternative for both brokers. Additionally, they offer free virtual demo accounts for simulated trading, enabling newcomers and seasoned traders to test strategies without risk. The integration of copy trading is another shared feature, although neither broker supports DupliTrade or ZuluTrade.
OANDA and FP Markets also offer the ability to trade directly from stock charts, assisting active traders in making swift decisions. However, when it comes to chart drawing tools, OANDA provides a more expansive selection with 74 options compared to FP Markets' 17. FP Markets, on the other hand, edges out OANDA slightly with 7 watchlist columns compared to OANDA's 6. With both brokers receiving a four-star rating for their trading platforms and tools, it's noteworthy that OANDA ranks #15 while FP Markets holds the #23 spot out of 63 brokers, reflecting their competitive but slightly differing strengths.
| Feature |
OANDA
|
FP Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| 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 |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 89 | 30 |
| Charting - Drawing Tools (Total) | 74 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of OANDA and FP Markets, both offer support for iPhone and Android devices, along with essential features like forex and stock price alerts and the ability to create watchlists with real-time quotes. However, while both platforms do not sync watchlist symbols between mobile apps and online accounts, OANDA distinguishes itself with its availability of 30 technical studies within its charting tools. FP Markets, on the other hand, defaults to the standard MetaTrader offerings in this regard. Both apps allow users to draw trendlines, view multiple time frames, and auto-save chart drawings, providing a comprehensive charting experience.
OANDA receives high praise for its mobile app, earning a perfect rating of 5 stars, while FP Markets follows closely with a commendable 4-star rating. Among 63 brokers, OANDA is ranked impressively at 7th place for mobile trading apps according to ForexBrokers.com, whereas FP Markets holds the 18th spot. Though both apps provide solid options for mobile trading, OANDA's additional features and higher ratings make it a standout choice for those prioritizing advanced charting capabilities on mobile devices.
| Feature |
OANDA
|
FP Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | MetaTrader (Default) |
| 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.
When comparing the market research capabilities of OANDA and FP Markets, both brokers deliver solid information thanks to daily market commentary and forex news from top-tier sources like Bloomberg and Reuters. They offer useful analysis tools from Autochartist and provide sentiment-based trading tools that reveal the positioning of traders across various currency pairs. Additionally, each broker supports its clients with an economic calendar that outlines current and upcoming global news events.
However, differences emerge in their offerings. While FP Markets boasts advanced technical analysis tools from Trading Central, OANDA does not. As for the overall quality of research tools, OANDA shines with a 5-star rating, ranked 5th out of 63 brokers by ForexBrokers.com, indicating stronger market research capabilities compared to FP Markets, which holds a 4-star rating and is ranked 25th. Neither broker currently utilizes tools from companies like TipRanks or Acuity Trading, which might factor into their offerings and user decisions.
| Feature |
OANDA
|
FP Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | Yes |
| 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.
OANDA and FP Markets both give beginners plenty of ways to learn forex and CFDs. Each broker offers a rich library with at least 10 articles, videos, and archived webinars focused on trading. You’ll find monthly client webinars, a searchable archive of past sessions, and video lessons tailored to both beginners and experienced traders (10+ in each category). Both also provide an investor dictionary with 50+ terms to help you learn the language of the market.
For education quality, OANDA edges out FP Markets. OANDA holds a 5-star Education rating and ranks #19 out of 63 brokers in ForexBrokers.com’s Education category, while FP Markets earns 4 stars and ranks #23. If you want the strongest beginner learning path with frequent webinars, video courses, and an easy-to-browse archive, OANDA has a slight advantage, though FP Markets remains a solid alternative with similar features.
| Feature |
OANDA
|
FP Markets
|
|---|---|---|
| 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 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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In comparing OANDA and FP Markets, OANDA offers both the ability to buy actual delivered cryptocurrency and cryptocurrency derivatives, while FP Markets only provides the option to trade cryptocurrency derivatives.
In comparing the deposit and withdrawal options between online brokers OANDA and FP Markets, OANDA provides more flexibility with the inclusion of ACH and SEPA transfers, which FP Markets does not offer, while both brokers equally support PayPal, Skrill, Visa, Mastercard, and bank wire transactions.
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 |
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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/Central Bank 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. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | No | |
| 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 | OANDA | FP Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.69 | 1.2 | |
| All-in Cost EUR/USD - Active | 1.69 | 0.7 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| 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 | |
| ACH or SEPA Transfers | Yes | No |
| 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 | No | No |
| Trading Tools | OANDA | FP Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 89 | 30 | |
| Charting - Drawing Tools (Total) | 74 | 17 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | MetaTrader (Default) | |
| 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 | OANDA | FP Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | FP Markets | |
|---|---|---|---|
| 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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| Trust Score | 93 | 89 | |
| Winner | check_circle | ||
| Review | OANDA Review | FP Markets Review |
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