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 vs FP Markets: OANDA was founded in 1996, while FP Markets launched in 2005. Neither broker is publicly traded or operates as a bank. According to ForexBrokers.com, Trust Scores of 90–99 indicate a highly trusted broker. OANDA scores 92 and FP Markets scores 90, so both fall into the highly trusted range.
On regulation, OANDA holds 7 Tier-1 licenses (considered highly trusted) and 0 Tier-2 licenses. FP Markets holds 2 Tier-1 licenses and 1 Tier-2 license (considered trusted). In short, OANDA has a wider top-tier regulatory footprint, whereas FP Markets combines top-tier and mid-tier oversight.
| 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 |
When comparing commissions and fees, FP Markets comes out ahead of OANDA for most traders. OANDA’s pricing is generally on the high side, with spreads that can be more expensive than the best low-cost brokers. Its core pricing can lower the spread, but you must pay a commission and meet a $10,000 minimum deposit, so the savings are limited. OANDA does offer some useful features, like very small trade sizes, automated execution across its accounts, and rebates for high-volume traders. OANDA is rated 4 stars and ranked #32 out of 36 for Commissions and Fees.
FP Markets offers more trader-friendly pricing, especially on its Raw ECN account, which is built for lower trading costs. On that account, spreads can be very tight, and the commission is straightforward at $6 per round-turn standard lot on forex trades through cTrader. Its Standard account costs more because the spreads are wider, and some of its Australia-based Iress account types can add platform or data fees unless you meet certain requirements. Even so, FP Markets is widely seen as the cheaper choice overall. FP Markets is rated 4.5 stars and ranked #11 out of 36 for Commissions and Fees.
In simple terms, if low trading costs are your main goal, FP Markets is the stronger pick. OANDA may suit traders who value its execution style and tiny minimum trade size, but FP Markets delivers better value for commissions and spreads in most cases.
| Feature |
OANDA
|
FP Markets
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Spread-only account | 1.68 | 1.3 |
| All-in Cost EUR/USD - Raw spread account | N/A | 0.9 |
| Non-wire bank transfer (Deposit/Withdraw) | Yes | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
OANDA and FP Markets both give traders access to forex as either a CFD or spot contract, and both also offer copy trading and cryptocurrency CFDs. Where OANDA stands out is in its broader mix of real, exchange-traded investments: clients can buy shares on U.S. and international exchanges, and OANDA also allows the purchase of actual cryptocurrency, not just crypto CFDs. FP Markets does not offer exchange-traded shares or delivered crypto, so its lineup is more focused on leveraged trading products.
In terms of size, FP Markets lists a larger overall selection with 10,000 tradeable symbols compared with OANDA’s 4,172. FP Markets also has a slight edge in forex, offering 71 pairs versus OANDA’s 68. Even so, both brokers are rated 4.5 out of 5 stars for Range of Investments, with FP Markets ranked #17 out of 36 brokers and OANDA ranked #20, reflecting that each offers a wide mix of markets, but with different strengths.
| Feature |
OANDA
|
FP Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 10000 |
| Forex Pairs (Total) | 68 | 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 both give traders a solid mix of platform choices, including a free demo account, a proprietary platform, desktop software for Windows, and a web-based platform you can use in your browser. Each broker also supports copy trading and offers both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), making them well suited for traders who want familiar tools and flexible ways to trade. Both also let you place trades directly from charts, which can be helpful for quick decision-making.
When it comes to trading platforms and tools, OANDA and FP Markets are closely matched, and both are rated 4 out of 5 stars by ForexBrokers.com. Still, OANDA holds a higher category ranking, placing #16 out of 36 brokers, while FP Markets ranks #22. For traders comparing online brokers, OANDA may have a slight edge in this area, but FP Markets remains a strong option with the same core platform features.
| 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) | 82 | 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, along with price alerts so traders can stay on top of market moves. Each app also lets users draw trendlines on charts and saves those drawings automatically. However, neither broker offers watchlist symbol syncing between the mobile app and the online account, so watchlists do not update across devices.
Where OANDA pulls ahead is in charting and overall mobile app quality. OANDA offers 33 technical studies in its mobile charting tools, while FP Markets uses the MetaTrader default chart setup. OANDA is also rated 5 stars for Mobile Trading Apps and ranks #7 out of 36 brokers by ForexBrokers.com, compared with FP Markets at 4 stars and #20 out of 36. For traders who want a more polished mobile experience, OANDA has the edge, while FP Markets still covers the core features most mobile traders need.
| 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 | 33 | MetaTrader (Default) |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, both OANDA and FP Markets give traders a strong mix of tools and news. Each broker offers daily market commentary, forex news from major sources like Bloomberg, Reuters, or Dow Jones, Autochartist tools, sentiment data showing long and short positions, and an economic calendar with key global events. Neither broker includes TipRanks research, but OANDA stands out by also offering Acuity Trading tools such as Signal Centre, which FP Markets does not provide.
Overall, OANDA has the edge for research, with a 5-star rating and a #4 ranking out of 36 brokers from ForexBrokers.com. FP Markets is still solid, but it trails OANDA with a 4-star rating and a #22 ranking. If research depth matters most, OANDA offers the more complete package, while FP Markets still covers the main bases well.
| 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 | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to beginner-friendly learning, both OANDA and FP Markets give new traders plenty to work with. Each broker offers more than 10 forex or CFD education pieces, regular educational webinars at least once a month, and at least 10 beginner videos as well as 10 advanced videos. That means beginners can find basic lessons to get started, while more experienced traders can still keep learning as they grow.
Even though both brokers cover the essentials well, OANDA has a slight edge in education. It earns 5 out of 5 stars for Education and ranks #18 out of 36 brokers at ForexBrokers.com, compared with FP Markets’ 4 stars and #21 ranking. In simple terms, both are solid choices for learning, but OANDA comes out ahead for traders who want the stronger overall education experience.
| 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 #14, 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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|---|---|---|
| Overall Rating |
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| Trust Score | 92 | 90 |
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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.
When comparing OANDA vs FP Markets for deposits and withdrawals, OANDA supports ACH or SEPA transfers, Skrill, and bank wires but not PayPal, while FP Markets offers PayPal, Skrill, and bank wires but does not support ACH or SEPA 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 | 92 | 90 | |
| Winner | check_circle | ||
| Review | OANDA Review | FP Markets Review |
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| Regulation | OANDA | FP Markets | |
|---|---|---|---|
| Trust Score | 92 | 90 | |
| 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 CMA 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) | 68 | 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) - Spread-only account | 1.68 | 1.3 | |
| All-in Cost EUR/USD - Raw spread account | N/A | 0.9 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | OANDA | FP Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer (Deposit/Withdraw) | 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) | 82 | 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 Watchlists - Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 33 | 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 | |
|---|---|---|---|
| EUR/USD | Yes | Yes | |
| Review | OANDA Review | FP Markets Review |
| Overall | OANDA | FP Markets | |
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| Trust Score | 92 | 90 | |
| Winner | check_circle | ||
| Review | OANDA Review | FP Markets Review |
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