Is FXCM better than OANDA? After testing 30 of the best forex brokers over five months, FXCM is better than OANDA. While its range of tradeable markets is narrow and pricing is just average for everyday trading, FXCM caters to multiple trader types. High-volume traders, algorithmic traders, and, overall, traders that appreciate robust trading tools alongside quality market research will find FXCM to be a good fit.
ForexBrokers.com is committed to the highest ethical standards and reviews services independently. Advertiser Disclosure
FXCM vs OANDA 2020
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
|
|
|
Overall Rating
| Feature | FXCM | OANDA |
| Overall | ||
| FXCM Review | OANDA Review | |
| 75.38% of retail CFD accounts lose money | 73.5% of retail CFD accounts lose money |
Regulation
| Feature | FXCM | OANDA |
| Trust Score | 92 | 89 |
|
Year Founded |
1999 | 1996 |
|
Publicly Traded (Listed) |
Yes | No |
|
Bank |
No | No |
|
Tier-1 Licenses |
3 | 6 |
|
Tier-2 Licenses |
2 | 0 |
|
Tier-3 Licenses |
0 | 0 |
|
Authorised in the European Union |
Yes | Yes |
Tier-1 Licenses
| Feature | FXCM | OANDA |
|
ASIC Authorised (Australia) |
Yes | Yes |
|
IIROC Authorised (Canada) |
Yes | Yes |
|
SFC Authorised (Hong Kong) |
No | No |
|
FSA Authorised (Japan) |
No | Yes |
|
MAS Authorised (Singapore) |
No | Yes |
|
FINMA Authorised (Switzerland) |
No | No |
|
FCA Authorised (UK) |
Yes | Yes |
|
CFTC Registered (USA) |
No | Yes |
Investments
| Feature | FXCM | OANDA |
|
Forex: Spot Trading |
Yes | Yes |
|
Social Trading / Copy-Trading |
Yes | Yes |
|
Currency Pairs (Total Forex pairs) |
39 | 71 |
|
CFDs - Total Offered |
32 | 53 |
|
Cryptocurrency traded as actual |
No | No |
|
Cryptocurrency traded as CFD |
Yes | Yes |
| Offering of Investments | ||
| Winner | check_circle |
Cost
| Feature | FXCM | OANDA |
|
Average Spread EUR/USD - Standard |
1.3 (as of Q2 19) | 1.4 (as of Q3 2018) |
|
All-in Cost EUR/USD - Active |
0.7 (as of Q2 19) | 1.4 (as of Oct 19) |
|
Active Trader or VIP Discounts |
Yes | Yes |
| Commissions & Fees | ||
| Winner | check_circle |
Funding
| Feature | FXCM | OANDA |
|
Minimum Initial Deposit |
£300 | $0.00 |
|
Bank Wire (Deposit/Withdraw) |
Yes | Yes |
|
Visa/Mastercard (Credit/Debit) |
Yes | Yes |
|
PayPal (Deposit/Withdraw) |
No | No |
|
Skrill (Deposit/Withdraw) |
Yes | No |
Trading Platforms
| Feature | FXCM | OANDA |
|
Proprietary Platform |
Yes | Yes |
|
Desktop Platform (Windows) |
Yes | Yes |
|
Web Platform |
Yes | Yes |
|
Social Trading / Copy-Trading |
Yes | Yes |
|
MetaTrader 4 (MT4) |
Yes | Yes |
|
MetaTrader 5 (MT5) |
No | No |
|
cTrader |
No | No |
Trading Tools
| Feature | FXCM | OANDA |
|
Virtual Trading (Demo) |
Yes | Yes |
|
Alerts - Basic Fields |
Yes | Yes |
|
Watchlists - Total Fields |
12 | 7 |
|
Charting - Indicators / Studies (Total) |
57 | 81 |
|
Charting - Drawing Tools (Total) |
18 | 145 |
|
Charting - Trade From Chart |
Yes | Yes |
|
Charting - Drawings Autosave |
Yes | Yes |
|
Order Type - Trailing Stop |
Yes | Yes |
| Platform & Tools | ||
| Winner | check_circle |
Mobile Trading
| Feature | FXCM | OANDA |
|
Android App |
Yes | Yes |
|
Apple iOS App |
Yes | Yes |
|
Trading - Forex |
Yes | Yes |
|
Trading - CFDs |
Yes | Yes |
|
Alerts - Basic Fields |
No | Yes |
|
Watch List |
Yes | Yes |
|
Watch List Syncing |
Yes | No |
|
Charting - Indicators / Studies |
60 | 33 |
|
Charting - Draw Trend Lines |
Yes | Yes |
|
Charting - Trend Lines Moveable |
Yes | Yes |
|
Charting - Multiple Time Frames |
Yes | Yes |
|
Charting - Drawings Autosave |
Yes | Yes |
|
Forex Calendar |
Yes | Yes |
| Mobile Trading | ||
| Winner | check_circle |
Research
| Feature | FXCM | OANDA |
|
Daily Market Commentary |
Yes | Yes |
|
Forex News (Top-Tier Sources) |
Yes | Yes |
|
Weekly Webinars |
Yes | Yes |
|
AutoChartist |
Yes | Yes |
|
Trading Central (Recognia) |
Yes | No |
|
Delkos Research |
No | No |
|
Social Sentiment - Currency Pairs |
Yes | Yes |
|
Economic Calendar |
Yes | Yes |
| Research | ||
| Winner | check_circle |
Education
| Feature | FXCM | OANDA |
|
Has Education - Forex |
Yes | Yes |
|
Has Education - CFDs |
No | No |
|
Client Webinars |
Yes | Yes |
|
Client Webinars (Archived) |
Yes | Yes |
|
Videos - Beginner Trading Videos |
Yes | Yes |
|
Videos - Advanced Trading Videos |
Yes | Yes |
|
Investor Dictionary (Glossary) |
Yes | Yes |
| Education | ||
| Winner | check_circle |
Major Forex Pairs
| Feature | FXCM | OANDA |
|
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 |
Overall
| Feature | FXCM | OANDA |
| FXCM Review | OANDA Review | |
| Overall | ||
| Winner | check_circle |
Comparing forex brokers side by side is no easy task. For our 2020 annual forex broker review, we spent hundreds of hours assessing 30 forex and CFD brokerages to find the best forex broker. Let's compare FXCM vs OANDA.
Does FXCM or OANDA 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, FXCM offers better pricing overall for traders.
Is FXCM or OANDA safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 20 international regulator databases. Here's our findings. OANDA holds 6 global Tier-1 licenses, while FXCM holds 3. FXCM holds 2 global Tier-2 licenses, while OANDA holds 0. All regulators considered, FXCM has a Trust Score of 92.00, while OANDA's Trust Score is 89.00.
Which trading platform is better: FXCM or OANDA?
To compare the trading platforms of both FXCM and OANDA, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, FXCM offers a better experience. With research, OANDA offers superior market research. Finally, we found FXCM 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. FXCM and OANDA both offer copy trading. Both FXCM and OANDA offer MetaTrader 4 (MT4).
How many forex pairs and CFDs are available to trade?
OANDA provides traders 71 currency pairs (e.g., EUR/USD) compared to FXCM's 39 available pairs. Forex pairs aside, OANDA offers traders access to 53 CFDs while FXCM has 32 available CFDs, a difference of 21.
Overall, between FXCM and OANDA, FXCM is the better forex broker.
FXCM ReviewOANDA Review
Related Comparisons
- OANDA vs. CMC Markets
- FXCM vs. eToro
- FXCM vs. IG
- FXCM vs. Pepperstone
- OANDA vs. IG
- OANDA vs. Saxo Bank
Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.
The names, products, services, branding/logos, and other trademarks or images featured or cited within this Website (www.forexbrokers.com) are the property of their respective owners and the owners retain all legal rights therein. These trademark holders are not affiliated with ForexBrokers.com and the use or display of names, trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, or endorses ForexBrokers.com or any of its reviews, products, or services. ForexBrokers.com declares no affiliation, sponsorship, nor any partnership with any trademark holders unless otherwise stated.
OANDA - CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
