Written by ForexBrokers.com
In this head to head comparison of OANDA vs FXOpen, 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 and FXOpen are both established online brokers serving global clients, with OANDA being founded in 1996 and FXOpen in 2003. Neither company is publicly traded or operates as a bank. However, they differ significantly in terms of regulatory compliance and trust ratings. OANDA boasts seven Tier-1 licenses, which signify a high level of safety and reliability according to ForexBrokers.com standards, whereas FXOpen holds two Tier-1 licenses. Additionally, OANDA's impressive Trust Score of 93 out of 99 indicates a high level of trust, contrasting with FXOpen's score of 76, which is categorized as posing average risk.
| Feature |
OANDA
|
FXOpen
|
|---|---|---|
| Year Founded | 1996 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
OANDA and FXOpen both earn 4 out of 5 stars for commissions and fees, but OANDA ranks higher (#35 of 63) than FXOpen (#45 of 63) in ForexBrokers.com’s Commissions and Fees category. OANDA’s trading costs tend to be on the high side versus the lowest-cost brokers, yet it leans on fast, automated order execution. By contrast, FXOpen’s average spread data is not available, which makes a direct, pip-for-pip comparison tougher.
At OANDA, the default (commission-free) pricing saw an average spread of 1.61 pips on EUR/USD in July 2024. The Core pricing account lowers the spread but charges a commission of $5 per side per $100,000 traded ($10 per round turn) and requires a $10,000 minimum deposit. Using OANDA’s example, a 0.4-pip Core spread plus the commission-equivalent of about 1.0 pip results in an all-in cost near 1.4 pips—slightly cheaper than the 1.6-pip default. OANDA also lets you trade in very small sizes (down to 1 unit) and offers an Elite Trader rebate program in select regions with $5–$17 per million in rebates and potential TradingView subscription reimbursements. OANDA publishes trailing average spreads for transparency, though not fixed-period averages.
FXOpen’s 4-star rating and #45 rank suggest competitive pricing overall, but with no average spread data available it’s hard to gauge day-to-day costs against OANDA’s published figures. If you value published, detailed cost data, OANDA has the edge. If you’re comparing purely on rankings, OANDA comes out ahead (#35 vs. #45), while both share the same 4-star commissions-and-fees score.
| Feature |
OANDA
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average spread (EUR/USD) - Standard account | 1.69 | N/A |
| All-in Cost EUR/USD - Active | 1.69 | N/A |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | |
| Skrill (Deposit/Withdraw) | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
OANDA vs FXOpen: both support forex trading as CFDs or spot. OANDA lists 4,172 tradeable symbols and 69 forex pairs, while FXOpen offers 87 symbols and 25 pairs. OANDA also lets you buy exchange-traded securities on U.S. and international exchanges (for example, Apple on NASDAQ and Vodafone in London), whereas FXOpen does not offer direct share dealing.
Both brokers offer copy trading and crypto CFDs. If you want to own actual cryptocurrency, only OANDA provides delivered crypto. According to ForexBrokers.com, OANDA earns 4 out of 5 stars and ranks 28th of 63 for Range of Investments, while FXOpen earns 3 out of 5 stars and ranks 63rd of 63. For the widest selection and more asset types, OANDA is the more versatile choice; FXOpen suits traders who prefer a smaller lineup.
| Feature |
OANDA
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 87 |
| Forex Pairs (Total) | 69 | 25 |
| 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). |
Dive deeper: Best Copy Trading Platforms.
Comparing OANDA vs FXOpen for trading platforms and tools, both brokers offer free demo (paper) trading, web platforms, and Windows desktop platforms. You’ll find copy trading at both, as well as MetaTrader 4 (MT4) and MetaTrader 5 (MT5). A key difference: OANDA provides a proprietary, in-house platform in addition to MT4/MT5, while FXOpen does not. Both brokers also let you place trades directly from charts.
According to ForexBrokers.com, both OANDA and FXOpen earn 4 stars for Trading Platforms and Tools, yet OANDA ranks much higher at #15 out of 63 brokers, while FXOpen sits at #54. In simple terms, choose OANDA if you want a broker-built platform alongside MT4/MT5; pick FXOpen if you’re fine focusing on the industry-standard MetaTrader suite and copy trading.
| Feature |
OANDA
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| 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 FXOpen each offer mobile trading apps for iPhone and Android. Both apps support forex and stock price alerts, helping you stay on top of market moves. However, neither broker currently syncs watchlists between the mobile app and your online account, so changes made in one place won’t appear in the other.
For charting, the two apps are evenly matched with 30 technical studies and the ability to draw trendlines. The key difference: OANDA’s app auto-saves your chart drawings, while FXOpen’s does not. That convenience shows up in scores, too—OANDA earns 5 stars for Mobile Trading Apps and ranks #7 out of 63 brokers at ForexBrokers.com, whereas FXOpen is rated 4 stars and ranks #55. If mobile charting and saved annotations matter to you, OANDA has the edge; if you only need core tools, FXOpen still covers the basics.
| Feature |
OANDA
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | No |
Dive deeper: Best Forex Trading Apps.
OANDA and FXOpen both cover the essentials for market research with daily market commentary, forex news from top-tier sources like Bloomberg and Reuters, and an economic calendar. OANDA goes further with Autochartist and a sentiment tool that shows the ratio of long vs. short positions, while FXOpen does not offer these. Neither broker provides Trading Central. OANDA does not include TipRanks or Acuity Trading; availability of TipRanks and Acuity at FXOpen isn’t specified.
These differences align with independent ratings: OANDA earns 5 stars for Research and ranks #4 out of 63 brokers on ForexBrokers.com, while FXOpen scores 3 stars and ranks #64. If you want built-in pattern recognition and client positioning insights alongside news and commentary, OANDA stands out; if you mainly need the basics, FXOpen covers them.
| Feature |
OANDA
|
FXOpen
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central | No | No |
| Client sentiment data | Yes | No |
| TipRanks | No | |
| Acuity Trading | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners comparing education at OANDA vs FXOpen, OANDA comes out ahead. OANDA runs client webinars at least once a month and offers 10+ beginner videos along with 10+ advanced videos, making it easy to start with the basics and grow into more complex topics. Reflecting this, OANDA earns 5 stars for Education and ranks #19 out of 63 brokers on ForexBrokers.com.
FXOpen does not host monthly educational webinars and does not offer at least 10 beginner or 10 advanced videos. Its Education rating is 3 stars, with a #59 ranking out of 63. If you want frequent webinars and a strong lineup of beginner-friendly videos, OANDA is the better choice; FXOpen may suit traders who need fewer educational extras.
| Feature |
OANDA
|
FXOpen
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
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 FXOpen. OANDA finished with an overall rank of #12, while FXOpen finished with an overall rank of #54.
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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FXOpen
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| Trust Score | 93 | 76 |
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Compared to FXOpen, OANDA lets you buy actual, delivered cryptocurrency and trade cryptocurrency CFDs, whereas FXOpen supports only cryptocurrency CFDs and does not offer delivered crypto.
OANDA supports ACH/SEPA, PayPal, Skrill, and bank wire transfers for deposits and withdrawals, while FXOpen does not support ACH or SEPA and its availability for PayPal, Skrill, Visa/Mastercard, and bank wires is not specified here.
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 | FXOpen | |
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| Trust Score | 93 | 76 | |
| Winner | check_circle | ||
| Review | OANDA Review |
| Broker Screenshots | OANDA | FXOpen | |
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| Regulation | OANDA | FXOpen | |
|---|---|---|---|
| Trust Score | 93 | 76 | |
| Year Founded | 1996 | 2003 | |
| 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 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | OANDA | FXOpen | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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 | Yes | |
| 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 | FXOpen | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | OANDA | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4172 | 87 | |
| Forex Pairs (Total) | 69 | 25 | |
| 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). |
| Cost | OANDA | FXOpen | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.69 | N/A | |
| All-in Cost EUR/USD - Active | 1.69 | N/A | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | OANDA | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | ||
| Skrill (Deposit/Withdraw) | Yes | ||
| Bank Wire (Deposit/Withdraw) | Yes | ||
| Non-wire bank transfer | Yes | No |
| Trading Platforms | OANDA | FXOpen | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| 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 | No |
| Trading Tools | OANDA | FXOpen | |
|---|---|---|---|
| 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 | FXOpen | |
|---|---|---|---|
| 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 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | No | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | OANDA | FXOpen | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central | No | No | |
| TipRanks | No | ||
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | FXOpen | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | OANDA | FXOpen | |
|---|---|---|---|
| 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 |
| Overall | OANDA | FXOpen | |
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| Trust Score | 93 | 76 | |
| Winner | check_circle | ||
| Review | OANDA Review |
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