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OANDA vs FXCM 2024

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Written by ForexBrokers.com

August 29, 2023

Is OANDA better than FXCM? In our analysis of 23 international regulators across 62 of the best forex brokers, OANDA is considered Highly Trusted, with an overall Trust Score of 93 out of 99. FXCM is considered Highly Trusted, with an overall Trust Score of 95 out of 99. Learn more about Trust Score.

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Compare

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Overall Rating OANDA FXCM
Overall Rating info 4.5/5 Stars 4.5/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Offering of Investments 3.5/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 5/5 Stars
Mobile Trading 4.5/5 Stars 4.5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 4/5 Stars 4/5 Stars
Trust Score info 93 95
Winner check_circle
Review OANDA Review FXCM Review
Broker Screenshots OANDA FXCM
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation OANDA FXCM
Trust Score info 93 95
Year Founded info 1996 1999
Publicly Traded (Listed) info No Yes
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-1 Licenses info 7 4
Tier-2 Licenses info 0 2
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1 0
Tier-1 Licenses (Highly Trusted) OANDA FXCM
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info Yes Yes
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info Yes No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info Yes No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses (Trusted) OANDA FXCM
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info No Yes
South Africa (FSCA Authorised) info No Yes
UAE (DFSA/Central Bank Authorised) info No No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments OANDA FXCM
Forex Trading (Spot or CFDs) info Yes info Yes
Tradeable Symbols (Total) info 1744 info 440
Forex Pairs (Total) info 71 40
U.S. Stock Trading (Non CFD) info No No
Int'l Stock Trading (Non CFD) info No No
Social Trading / Copy Trading info Yes info Yes
Cryptocurrency (Physical) info Yes No
Cryptocurrency (Derivative) info Yes info 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 OANDA FXCM
Average Spread EUR/USD - Standard info 1.57 info 0.74 info
All-in Cost EUR/USD - Active info 1.57 info 0.74 info
Active Trader or VIP Discounts info Yes info Yes
Inactivity Fee info Yes Yes
Execution: Agency Broker info No Yes
Execution: Market Maker info Yes Yes
Funding OANDA FXCM
Minimum Deposit info $0 Starts from $50
PayPal (Deposit/Withdraw) info Yes info Yes
Skrill (Deposit/Withdraw) info Yes info Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
ACH or SEPA Transfers info Yes info Yes
Trading Platforms OANDA FXCM
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes info Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes info No
cTrader info No No
DupliTrade info No No
ZuluTrade info No Yes info
Trading Tools OANDA FXCM
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 6 13
Charting - Indicators / Studies (Total) info 81 115
Charting - Drawing Tools (Total) info 431 10
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading OANDA FXCM
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info No Yes
Mobile Charting - Indicators / Studies info 30 59
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes Yes
Mobile Economic Calendar info Yes Yes
Research OANDA FXCM
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes No
Trading Central (Recognia) info No Yes
TipRanks info No Yes
Social Sentiment - Currency Pairs info Yes Yes
Economic Calendar info Yes Yes
Education OANDA FXCM
Education (Forex or CFDs) info Yes Yes
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs OANDA FXCM
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review OANDA Review FXCM Review
Overall OANDA FXCM
Overall Rating info 4.5/5 Stars 4.5/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Offering of Investments 3.5/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 5/5 Stars
Mobile Trading 4.5/5 Stars 4.5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 4/5 Stars 4/5 Stars
Trust Score info 93 95
Winner check_circle
Review OANDA Review FXCM Review
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OANDA vs FXCM Comparison

We’ve made it easy to compare the best forex brokers, side-by-side. Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. That same research and data powers our broker comparisons. Let's compare OANDA vs FXCM.

Can I trust OANDA?

OANDA is not publicly traded and does not operate a bank. OANDA is authorised by seven Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulators (High Risk). 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), and regulated in the European Union via the MiFID passporting system.

Can I trust FXCM?

FXCM's parent company is publicly-traded, does not operate a bank, and is authorised by four Tier-1 regulators (Highly Trusted), two Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). FXCM is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), Canadian Investment Regulatory Organization (CIRO), and regulated in the European Union via the MiFID passporting system.

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 FXCM good?

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.

What is the minimum deposit requirement for opening an account with OANDA?

To open a trading account with OANDA, you'll need to make an initial minimum deposit of $0.

What is the minimum deposit requirement for opening an account with FXCM?

FXCM requires a minimum deposit of Starts from $50 before you can open an account and start trading.

What funding options does each broker offer?

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Both OANDA and FXCM offer Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).

Does OANDA or FXCM offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that FXCM offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

Is OANDA or FXCM safer for forex and CFDs trading?

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that OANDA holds 7 global Tier-1 licenses, while FXCM holds 4. FXCM holds 2 global Tier-2 licenses, while OANDA holds 0.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that FXCM (95) earned a higher Trust Score than OANDA (93).

Which trading platform is better: OANDA or FXCM?

To compare the trading platforms of both OANDA and FXCM, 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 OANDA to provide better mobile trading apps.

Here’s what trading platforms are available at OANDA:

  • Proprietary Platform - Yes
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - Yes
  • MT5 - Yes
  • ZuluTrade - No
  • TradingView - Yes

Here’s what trading platforms are available at FXCM:

  • Proprietary Platform - Yes
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - Yes
  • MT5 - No
  • ZuluTrade - Yes
  • TradingView - Yes

What about MetaTrader? How about copy trading?

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Both OANDA and FXCM offer MetaTrader 4 (MT4). Forex traders also appreciate the ability to engage in social copy trading. OANDA and FXCM both offer copy trading.

What can I trade with each broker?

OANDA provides traders 71 currency pairs (e.g., EUR/USD) compared to FXCM's 40 available pairs. If you are interested in trading a full range of securities, OANDA offers traders access to 1744 tradeable symbols, while FXCM offers access to 440 tradeable symbols; so OANDA offers 1304 more tradeable symbols than FXCM.

We found in our testing that FXCM offers a more diverse selection of investment options than OANDA, allowing you to trade Forex Trading (Spot or CFDs), Cryptocurrency (Physical), Cryptocurrency (Derivative), Social Trading / Copy Trading and Spread Betting. Neither have Int'l Stock Trading (Non CFD).

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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