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OANDA vs FXOpen 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is OANDA better than FXOpen? 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. FXOpen is considered average-risk, with an overall Trust Score of 80 out of 99. Learn more about Trust Score.

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Overall RatingOANDAFXOpen
Overall Rating 4.5/5 Stars 3.5/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Offering of Investments 3.5/5 Stars 3/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 3/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score 92 80
Winner check_circle
Review OANDA Review
RegulationOANDAFXOpen
Trust Score 92 80
Year Founded 1996 2003
Publicly Traded (Listed) No No
Bank No No
Authorised in European Union Yes info Yes info
Tier-1 Licenses 6 2
Tier-2 Licenses 0 1
Tier-3 Licenses 1 0
Tier-1 Licenses (High Trust)OANDAFXOpen
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 Yes
CFTC Registered (USA) Yes No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)OANDAFXOpen
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 No
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) No No
Tier-3 Licenses (Low Trust)OANDAFXOpen
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
InvestmentsOANDAFXOpen
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 124 87
Forex Pairs (Total) 71 25
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).
CostOANDAFXOpen
Average Spread EUR/USD - Standard 1.26 info N/A info
All-in Cost EUR/USD - Active 1.26 info N/A info
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker No Yes
Execution: Market Maker Yes Yes
FundingOANDAFXOpen
Minimum Deposit $0 $100
PayPal (Deposit/Withdraw) Yes No
Skrill (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsOANDAFXOpen
Proprietary Platform Yes No
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 No
DupliTrade No No
ZuluTrade Yes Yes
Trading ToolsOANDAFXOpen
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 TradingOANDAFXOpen
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 30
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave Yes No
Forex Calendar Yes Yes
ResearchOANDAFXOpen
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes Yes
Autochartist Yes No
Trading Central (Recognia) No No
Social Sentiment - Currency Pairs Yes No
Economic Calendar Yes Yes
EducationOANDAFXOpen
Has Education - Forex or CFDs Yes No
Client Webinars Yes No
Client Webinars (Archived) Yes No
Videos - Beginner Trading Videos Yes No
Videos - Advanced Trading Videos Yes No
Investor Dictionary (Glossary) Yes Yes
Major Forex PairsOANDAFXOpen
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
OverallOANDAFXOpen
Overall Rating 4.5/5 Stars 3.5/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Offering of Investments 3.5/5 Stars 3/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 3/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score 92 80
Winner check_circle
Review OANDA Review
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OANDA vs FXOpen 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 FXOpen.

Does OANDA or FXOpen 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, OANDA offers better pricing overall for traders.

Is OANDA or FXOpen 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 FXOpen holds 2. FXOpen holds 1 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 FXOpen.

Which trading platform is better: OANDA or FXOpen?

To compare the trading platforms of both OANDA and FXOpen, 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 FXOpen offer MetaTrader 4 (MT4).OANDA and FXOpen both offer copy trading.

How many forex pairs and CFDs are available to trade?

OANDA provides traders 71 currency pairs (e.g., EUR/USD) compared to FXOpen's 25 available pairs. Forex pairs aside, OANDA offers traders access to 124 CFDs while FXOpen has 87 available CFDs, a difference of 37.

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 FXOpen?

FXOpen is not a publicly traded company, doesn't operate a bank, and is authorised by two tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). FXOpen is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA).

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 FXOpen good?

FXOpen is a long standing MetaTrader broker with a narrow offering and few benefits beyond a standard MetaTrader experience coupled with social-trading platforms ZuluTrade and Myfxbook.

Overall winner: OANDA

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announcementPlease 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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