Is FXCM better than OANDA? In our analysis of 23 international regulators across 50 brokers, FXCM is considered low-risk, with an overall Trust Score of 93 out of 99. OANDA is considered low-risk, with an overall Trust Score of 89 out of 99. Learn more about Trust Score.
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FXCM vs OANDA 2021
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.
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Overall Rating
| Feature | FXCM | OANDA |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading | ||
| Research | ||
| Education | ||
| Trust Score | 93 | 91 |
| FXCM Review | OANDA Review | |
| Between 70% of retail CFD accounts lose money | 76.6% of retail CFD accounts lose money |
Regulation
| Feature | FXCM | OANDA |
| Trust Score | 93 | 91 |
|
Year Founded |
1999 | 1996 |
|
Publicly Traded (Listed) |
Yes | No |
|
Bank |
No | No |
|
Tier-1 Licenses |
3 | 6 |
|
Tier-2 Licenses |
3 | 0 |
|
Tier-3 Licenses |
0 | 1 |
|
Authorised in the European Union |
Yes | Yes |
Tier-1 Licenses (High Trust)
| 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 |
Tier-2 Licenses (Average Trust)
| Feature | FXCM | OANDA |
|
CBRC Authorised (China) |
No | No |
|
CySEC Authorised (Cyprus) |
Yes | No |
|
CBI Authorised (Ireland) |
No | No |
|
ISA Authorised (Israel) |
Yes | No |
|
FMA Authorised (New Zealand) |
No | No |
|
CBR Authorised (Russia) |
No | No |
|
FSCA Authorised (South Africa) |
Yes | No |
|
SEC Authorised (Thailand) |
No | No |
Tier-3 Licenses (Low Trust)
| Feature | FXCM | OANDA |
| SCB Authorised (Bahamas) | No | No |
| IFSC Authorised (Belize) | No | No |
| BMA Authorised (Bermuda) | No | No |
|
FSC Authorised (British Virgin Islands) |
No | Yes |
|
FSC Authorised (Mauritius) |
No | No |
Investments
| Feature | FXCM | OANDA |
|
Forex Trading |
Yes | Yes |
|
CFD Trading |
Yes | Yes |
|
Tradeable Symbols (Total) |
276 | 124 |
|
Forex Pairs (Total) |
42 | 71 |
|
US Stock Trading (Non CFD) |
Yes | No |
|
Int'l Stock Trading (Non CFD) |
Yes | No |
|
Cryptocurrency (Physical) |
No | No |
|
Cryptocurrency (CFD) |
Yes | Yes |
|
Social Trading / Copy-Trading |
Yes | Yes |
Cost
| Feature | FXCM | OANDA |
|
Average Spread EUR/USD - Standard |
1.4 (Q2 2020) | 1.4 (August 2021) |
|
All-in Cost EUR/USD - Active |
1.1 (Q2 2020) | 1.4 (August 2021) |
|
Active Trader or VIP Discounts |
Yes | Yes |
|
Execution: Agency Broker |
Yes | No |
|
Execution: Market Maker |
Yes | Yes |
Funding
| Feature | FXCM | OANDA |
|
Minimum Deposit |
Starts from $50 | $0.00 |
|
Bank Wire (Deposit/Withdraw) |
Yes | Yes |
|
Visa/Mastercard (Credit/Debit) |
Yes | Yes |
|
PayPal (Deposit/Withdraw) |
No | Yes |
|
Skrill (Deposit/Withdraw) |
Yes | Yes |
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 |
|
DupliTrade |
No | No |
|
ZuluTrade |
Yes | Yes |
Trading Tools
| Feature | FXCM | OANDA |
|
Virtual Trading (Demo) |
Yes | Yes |
|
Alerts - Basic Fields |
Yes | Yes |
|
Watchlists - Total Fields |
12 | 6 |
|
Charting - Indicators / Studies (Total) |
57 | 81 |
|
Charting - Drawing Tools (Total) |
26 | 431 |
|
Charting - Trade From Chart |
Yes | Yes |
|
Charting - Drawings Autosave |
Yes | Yes |
|
Order Type - Trailing Stop |
Yes | Yes |
Mobile Trading
| Feature | FXCM | OANDA |
|
Android App |
Yes | Yes |
|
Apple iOS App |
Yes | Yes |
|
Alerts - Basic Fields |
Yes | Yes |
|
Watch List |
Yes | Yes |
|
Watch List Syncing |
Yes | No |
|
Charting - Indicators / Studies |
59 | 33 |
|
Charting - Draw Trendlines |
Yes | Yes |
|
Charting - Trendlines Moveable |
Yes | Yes |
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Charting - Multiple Time Frames |
Yes | Yes |
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Charting - Drawings Autosave |
Yes | Yes |
|
Forex Calendar |
Yes | Yes |
Research
| Feature | FXCM | OANDA |
|
Daily Market Commentary |
Yes | Yes |
|
Forex News (Top-Tier Sources) |
Yes | Yes |
|
Weekly Webinars |
Yes | Yes |
|
Autochartist |
Yes | Yes |
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Trading Central (Recognia) |
Yes | No |
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Delkos Research |
No | No |
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Social Sentiment - Currency Pairs |
Yes | Yes |
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Economic Calendar |
Yes | Yes |
Education
| Feature | FXCM | OANDA |
|
Has Education - Forex or CFDs |
Yes | Yes |
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Client Webinars |
Yes | Yes |
|
Client Webinars (Archived) |
Yes | Yes |
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Videos - Beginner Trading Videos |
Yes | Yes |
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Videos - Advanced Trading Videos |
Yes | Yes |
|
Investor Dictionary (Glossary) |
Yes | Yes |
Major Forex Pairs
| Feature | FXCM | OANDA |
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GBP/USD |
Yes | Yes |
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USD/JPY |
Yes | Yes |
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EUR/USD |
Yes | Yes |
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USD/CHF |
Yes | Yes |
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USD/CAD |
Yes | Yes |
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NZD/USD |
Yes | Yes |
|
AUD/USD |
Yes | Yes |
Overall
| Feature | FXCM | OANDA |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading | ||
| Research | ||
| Education | ||
| Trust Score | 93 | 91 |
| FXCM Review | OANDA Review |
Comparing forex brokers side by side is no easy task. For our 2021 annual forex broker review, we spent hundreds of hours assessing 27 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, OANDA 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 3 global Tier-2 licenses, while OANDA holds 0. In our analysis of 23 international regulators across 50 brokers, FXCM earned a higher Trust Score than OANDA.
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 42 available pairs. Forex pairs aside, FXCM offers traders access to 276 CFDs while OANDA has 124 available CFDs, a difference of 152.
Can I trust FXCM?
FXCM's parent company is publicly-traded, does not operate a bank, and is authorised by three tier-1 regulators (high trust), three tier-2 regulators (average trust), and zero tier-3 regulators (low trust). FXCM is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and via Friedberg Direct, with the Investment Industry Regulatory Organization of Canada (IIROC).
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 zero 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).
Is FXCM good?
While the range of tradeable markets is narrow and pricing is just average, traders that appreciate robust trading tools alongside quality market research will find FXCM to be a winner.
Is OANDA good?
As a trusted global brand, OANDA provides forex and CFD traders a limited offering of FX pairs and CFDs but stands out for its reputation and quality market research.
Overall winner: FXCM
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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 website as of 12/14/2020 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.
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Reink Media Group (Ireland) ltd is acting in a capacity of a marketing affiliate of FXCM EU LTD.
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.
