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 vs OANDA commissions and fees: FXCM generally comes out cheaper for EUR/USD. In May 2024, FXCM’s average spread was 0.78 pips in the EU, U.K., and Australia (and 1.38 pips via its St. Vincent and the Grenadines entity). Its commission-based accounts averaged 0.28 pips before commissions, with an all-in cost around 0.74–0.78 pips depending on program and region. By comparison, OANDA’s average non-core pricing was 1.61 pips on EUR/USD in July 2024, while its Core Pricing plan typically lands near 1.4 pips all-in (about 0.4 pips spread plus a 1.0 pip commission equivalent). In our ratings, FXCM earns 4.5/5 stars and ranks #17 of 63 for Commissions and Fees, while OANDA earns 4/5 stars and ranks #30 of 63.
FXCM’s pricing appeals most to traders who can qualify for volume discounts. Its Active Trader Rebate Program offers $5–$25 per million traded (not available in the U.K. or EU), and availability depends on your country of residence. Regional rules and tiers vary: for example, in the U.K. a $25,000 balance and at least $50 million in monthly volume can drop the commission to $2.50 per side ($5 round turn), which put the effective EUR/USD cost near 0.78 pips based on a 0.28-pip core price. As with any broker, expect spreads to widen during rollover or in volatile markets.
OANDA is not a discount broker, and its default spreads are on the higher side, but its Core Pricing can trim costs if you meet the $10,000 minimum deposit. That plan charges $5 per side per $100,000 traded (roughly 1.0 pip round turn) and, when paired with tighter quoted spreads, can reduce the all-in cost to about 1.4 pips on EUR/USD. Active traders in select regions can also get $5–$17 per million in rebates via OANDA’s Elite Trader program, and OANDA stands out for flexible sizing down to 1 unit, plus frequent publication of trailing spread averages for greater pricing transparency.
| 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.
FXCM and OANDA both support forex trading as CFDs and spot contracts, plus copy trading. OANDA offers a much wider selection of markets with 4,172 tradeable symbols and 69 forex pairs, compared with FXCM’s 440 symbols and 46 pairs. Both brokers offer cryptocurrency CFDs, but only OANDA lets you buy actual crypto.
For exchange-traded securities, FXCM does not offer stock trading on U.S. or international exchanges, while OANDA does for both. Despite these differences, both brokers earn 4.5 stars for Range of Investments. In ForexBrokers.com’s 63-broker lineup, OANDA ranks #20 and FXCM ranks #21. Choose OANDA if you want more symbols, more forex pairs, stock trading, and access to real crypto; choose FXCM if your focus is primarily on forex and CFDs with copy trading support.
| 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 vs OANDA: Both brokers offer free demo accounts for paper trading, proprietary platforms, Windows desktop downloads, and web-based platforms. Each supports MetaTrader 4 (MT4), copy trading, and lets you place trades directly from a chart. If you need MetaTrader 5 (MT5), only OANDA provides it; FXCM does not.
For trading platforms and tools, FXCM is rated 5 stars and ranks #4 out of 63 brokers on ForexBrokers.com, while OANDA earns 4 stars and ranks #16. In simple terms, FXCM edges out OANDA for overall platform quality, but OANDA can be the better choice if MT5 is essential. Both are solid picks for traders who want desktop and web access, chart trading, and the ability to test strategies with a free demo.
| 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 deliver polished mobile trading apps for iPhone and Android, complete with stock and forex price alerts, trendline drawing, and auto‑saved chart annotations. According to ForexBrokers.com, OANDA takes the lead on overall app quality with a 5-star rating and a #7 ranking out of 63 brokers, while FXCM earns 4.5 stars and ranks #16.
Feature-wise, FXCM offers watchlist syncing between the mobile app and your online account, while OANDA does not. FXCM also packs more technical studies for charting (59 vs. OANDA’s 30). If you want a larger indicator library and synced watchlists, FXCM is appealing. If a top-rated user experience is your priority, OANDA is a strong pick.
| 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.
Comparing FXCM vs OANDA for market research: both brokers deliver daily market commentary, an economic calendar, and forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones. Each also includes a sentiment tool showing long/short positioning. In independent ratings, OANDA earns 5 stars for Research and ranks #4 out of 63 brokers with ForexBrokers.com, while FXCM holds 4.5 stars and ranks #11.
The main differences are in the add-on tools. FXCM includes Trading Central and TipRanks, giving traders curated analyst insights and pattern-driven ideas. OANDA opts for Autochartist for automated technical setups but does not offer Trading Central or TipRanks. Neither broker provides Acuity Trading’s Signal Centre. Choose FXCM if you value Trading Central plus TipRanks alongside news and sentiment; pick OANDA if you prefer Autochartist with top-tier news and a higher overall research rating.
| 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.
Comparing FXCM vs OANDA for beginner education, both brokers make it easy to start learning. Each hosts live client webinars at least once a month and offers a large library of beginner-friendly video lessons (10+), plus advanced videos to grow with you. Between articles, videos, and archived webinars, you’ll find step-by-step guidance on core forex and CFD topics, platform how‑tos, and strategy basics.
According to ForexBrokers.com, FXCM earns 4.5 out of 5 stars for Education and ranks #13 out of 63 brokers, while OANDA scores a perfect 5 out of 5 stars and ranks #18 out of 63. If you want the highest education score, OANDA takes the lead; if category placement matters more, FXCM sits slightly higher. Either way, beginners get frequent webinars and plenty of videos to build confidence and skills.
| 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
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|---|---|---|
| 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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