Written by ForexBrokers.com
In this head to head comparison of FXCM vs OANDA, 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.
FXCM and OANDA are well-known online brokers with long track records. FXCM was founded in 1999 and is publicly traded, while OANDA was founded in 1996 and is not publicly traded. Neither firm is a bank.
Both brokers earn high marks for trust: FXCM scores 95/99 and OANDA scores 92/99 with ForexBrokers.com, placing each in the “highly trusted” range (90–99). In terms of regulatory licenses, FXCM holds 4 Tier-1 and 2 Tier-2 licenses, while OANDA holds 7 Tier-1 licenses and no Tier-2 licenses. OANDA leads on top-tier approvals, whereas FXCM combines a top trust score with added Tier-2 coverage and a listed status.
| Feature |
FXCM
|
OANDA
|
|---|---|---|
| Year Founded | 1999 | 1996 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 7 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
FXCM has slightly higher-than-average forex pricing, but it can become more competitive for active traders. On its standard accounts, the EUR/USD spread averaged 0.78 pips in the EU, U.K., and Australia in May 2024, while its commission-based accounts averaged 0.28 pips before commissions. FXCM also offers an Active Trader Rebate Program in some regions, which can lower costs further for high-volume traders, though it is not available in the U.K. or EU. FXCM is rated 4.5 out of 5 stars for commissions and fees and ranks #17 out of 36 brokers at ForexBrokers.com.
OANDA’s commissions and fees are generally higher, especially on its default pricing, where the EUR/USD averaged 1.61 pips in July 2024. Its core pricing offers tighter spreads, but it adds a per-side commission of $5 per $100,000 traded, which can still leave all-in costs only slightly better than the standard account for many traders. OANDA does, however, stand out for very small trade sizes, with minimum trading down to 1 unit, and it offers rebates for active traders in select regions. OANDA is rated 4 out of 5 stars for commissions and fees and ranks #31 out of 36 brokers.
In a direct comparison, FXCM is the lower-cost choice overall for forex commissions and fees, especially if you qualify for active trader discounts. OANDA may appeal more to traders who want tiny trade sizes or value execution features, but its pricing is usually less competitive.
| Feature |
FXCM
|
OANDA
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $0 |
| Average spread (EUR/USD) - Standard account | 0.9 | 1.68 |
| All-in Cost EUR/USD - Active | 0.8 | 1.69 |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing FXCM and OANDA for range of investments, both brokers let clients trade forex as CFDs or spot contracts and both support copy trading. FXCM offers 440 tradeable symbols and 46 forex pairs, while OANDA provides a much wider selection with 4,172 tradeable symbols and 69 forex pairs. Both brokers also offer cryptocurrency CFDs, but only OANDA lets clients buy actual cryptocurrency and trade exchange-traded securities on both U.S. and international exchanges.
Overall, OANDA has the broader range of investments and is ranked slightly higher for this category, coming in at #20 out of 36 brokers versus FXCM at #21. Even so, both brokers receive the same 4.5 out of 5 stars for Range of Investments, so FXCM remains a solid option for traders who mainly want forex and CFD access, while OANDA is the better choice for anyone looking for more markets and asset types.
| Feature |
FXCM
|
OANDA
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 4172 |
| Forex Pairs (Total) | 46 | 69 |
| U.S. Stocks (Shares) | No | Yes |
| Global Stocks (Non-U.S. Shares) | No | Yes |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | Yes |
| 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.
FXCM and OANDA both give traders plenty of ways to get started and manage trades, including free demo accounts, their own in-house platforms, Windows desktop downloads, web-based trading, copy trading, MetaTrader 4, and the ability to place trades straight from a chart. For most everyday users, that means either broker can cover the basics for charting, order entry, and platform access across devices.
The biggest platform difference is that OANDA also offers MetaTrader 5, while FXCM does not. In independent ratings, FXCM comes out ahead for trading platforms and tools with 5 out of 5 stars and a #4 ranking out of 36 brokers, compared with OANDA’s 4 out of 5 stars and #16 ranking. If MetaTrader 5 matters to you, OANDA may have the edge; if you want a broker with a stronger overall platforms-and-tools score, FXCM leads.
| Feature |
FXCM
|
OANDA
|
|---|---|---|
| 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) | No | Yes |
| Charting - Indicators / Studies (Total) | 115 | 89 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FXCM and OANDA both offer mobile trading apps for iPhone and Android, along with price alerts, trendline drawing, and auto-saving chart drawings. That means traders can monitor markets and manage charts on either platform while on the move. FXCM does have a more connected watchlist experience, since symbol changes sync between its mobile app and online account, while OANDA does not offer this feature.
When it comes to charting tools, FXCM gives mobile users access to 59 technical studies, compared with 30 at OANDA, which may appeal to traders who want more chart options. Even so, OANDA scores higher overall for mobile trading apps, with a 5-star rating and a #7 ranking out of 36 brokers from ForexBrokers.com, versus FXCM’s 4.5-star rating and #16 ranking. In short, FXCM stands out for chart depth and watchlist syncing, while OANDA edges ahead in overall mobile app ratings and ranking.
| Feature |
FXCM
|
OANDA
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 59 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
FXCM and OANDA both give traders plenty of market research tools, including daily market commentary, news from major sources like Bloomberg and Reuters, sentiment data, and an economic calendar with key global events. FXCM also stands out for its Trading Central tools and TipRanks research, while OANDA offers Autochartist instead, giving users another way to spot trading ideas and market patterns.
When it comes to research quality, OANDA has the edge. It is rated 5 out of 5 stars for Research and ranks #4 out of 36 brokers at ForexBrokers.com, compared with FXCM’s 4.5-star rating and #11 ranking. In short, both brokers cover the basics well, but OANDA offers a slightly stronger research package overall.
| Feature |
FXCM
|
OANDA
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central | Yes | No |
| Client sentiment data | Yes | Yes |
| TipRanks | Yes | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
FXCM and OANDA both give beginners a strong starting point for learning about forex and CFDs. Each broker offers at least 10 educational pieces focused on these markets, plus monthly client webinars and plenty of beginner and advanced videos. That means new traders can find basic lessons, live teaching sessions, and more detailed content as they grow their skills. FXCM’s education rating is 4.5 out of 5, and it ranks #13 out of 36 brokers for education, while OANDA earns a perfect 5 out of 5 and ranks #18.
For a beginner, the choice may come down to how you value overall score versus ranking. OANDA edges out FXCM on its education star rating, which may suggest slightly stronger content quality or variety. FXCM, however, places higher in the ForexBrokers.com education ranking and still covers the key learning needs most new traders look for. In short, both brokers are well suited for beginners, with OANDA standing out on rating and FXCM holding a better spot in the category ranking.
| Feature |
FXCM
|
OANDA
|
|---|---|---|
| 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 FXCM is better than OANDA. FXCM finished with an overall rank of #10, while OANDA finished with an overall rank of #13.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
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OANDA
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 92 |
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FXCM vs OANDA: For cryptocurrency trading, FXCM does not offer buying actual (delivered) crypto while OANDA does, and both brokers provide cryptocurrency CFDs.
FXCM and OANDA both support ACH/SEPA, PayPal, Skrill, and bank wire transfers for deposits and withdrawals, while Visa/Mastercard availability is not specified for either broker.
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 | FXCM | OANDA | |
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| Trust Score | 95 | 92 | |
| Winner | check_circle | ||
| Review | FXCM Review | OANDA Review |
| Broker Screenshots | FXCM | OANDA | |
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| Regulation | FXCM | OANDA | |
|---|---|---|---|
| Trust Score | 95 | 92 | |
| Year Founded | 1999 | 1996 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 7 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FXCM | OANDA | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | No | Yes | |
| Singapore (MAS Authorised) | No | Yes | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | Yes | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FXCM | OANDA | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | FXCM | OANDA | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 4172 | |
| Forex Pairs (Total) | 46 | 69 | |
| U.S. Stocks (Shares) | No | Yes | |
| Global Stocks (Non-U.S. Shares) | No | Yes | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | Yes | |
| 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 | FXCM | OANDA | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 0.9 | 1.68 | |
| All-in Cost EUR/USD - Active | 0.8 | 1.69 | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | FXCM | OANDA | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | Yes |
| Trading Platforms | FXCM | OANDA | |
|---|---|---|---|
| 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) | No | Yes | |
| cTrader | No | No |
| Trading Tools | FXCM | OANDA | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 115 | 89 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | OANDA | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 59 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | FXCM | OANDA | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central | Yes | No | |
| TipRanks | Yes | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | OANDA | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | FXCM | OANDA | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | FXCM Review | OANDA Review |
| Overall | FXCM | OANDA | |
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| Trust Score | 95 | 92 | |
| Winner | check_circle | ||
| Review | FXCM Review | OANDA Review |
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