Written by ForexBrokers.com
In this head to head comparison of OANDA vs FXPrimus, 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.
Founded in 1996, OANDA is an online broker known for its high level of trust and security in the trading community. Holding seven Tier-1 licenses, OANDA is widely recognized for its strong regulatory standing, earning it a Trust Score of 93 out of 99 on ForexBrokers.com. This positions it as a highly trusted choice for traders seeking a reliable platform, despite not being publicly traded or a bank.
FXPrimus, established in 2009, offers traders a different proposition. With one Tier-1 license, this broker is rated with a Trust Score of 71 out of 99 by ForexBrokers.com, suggesting an average risk level according to their rating scale. Similar to OANDA, FXPrimus is neither publicly traded nor a bank, making it important for potential users to consider the regulatory aspects when choosing between these two platforms.
| Feature |
OANDA
|
FXPrimus
|
|---|---|---|
| Year Founded | 1996 | 2009 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When examining the commissions and fees of OANDA versus FXPrimus, OANDA stands out with its high effective spreads, leading to relatively steep forex trading costs. Despite not being a discount broker, OANDA offers automated execution across its account offerings. In terms of spreads, OANDA's bid/ask fees are comparable to brokers like FOREX.com and FxPro, though they may not be the lowest available. For example, in July 2024, the average spread on the EUR/USD pair for non-core pricing at OANDA was 1.61 pips. This spread can be decreased with OANDA's core pricing, which offers lower spreads at the cost of a $5 per $100,000 currency commission, resulting in an all-in cost of 1.4 pips when factoring in this commission.
FXPrimus, on the other hand, does not provide specific average spread data, making direct comparisons challenging. Both brokers have received a 4-star rating for commissions and fees, indicating customer satisfaction with their services. However, in a ranking of commissions and fees by ForexBrokers.com, OANDA holds the #34 spot, while FXPrimus is ranked at #42 out of 63 brokers, suggesting OANDA might offer a slight edge in this category.
Key features of OANDA include the ability to trade at a minimum size of 1 unit, or 0.001 micro lot, which is far smaller than standard micro lot sizes. Additionally, through its Elite Trader program, OANDA provides rebates for active traders, along with TradingView subscription reimbursements. In terms of transparency, OANDA makes a continuous effort to share average spread data, although it doesn't offer a fixed period average, complicating precise comparisons. These aspects underscore the differences in commission and fee structures between the two brokers, potentially guiding traders toward the broker that best meets their trading needs.
| Feature |
OANDA
|
FXPrimus
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.61 | N/A |
| All-in Cost EUR/USD - Active | 1.61 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investment options between OANDA and FXPrimus, OANDA offers a significantly wider selection of tradeable symbols, boasting 3,928 compared to FXPrimus's 140. This includes a more extensive array of forex pairs, with OANDA providing 68 pairs whereas FXPrimus offers 42. Both brokers support forex trading either as CFDs or spot contracts, and neither provides access to exchange-traded securities on U.S. or international markets. Copy trading features are available with both OANDA and FXPrimus, allowing investors to mimic the trades of successful traders, though they diverge when it comes to cryptocurrency. OANDA presents the option to purchase actual cryptocurrency aside from CFDs, while FXPrimus limits its offering to cryptocurrency derivatives only.
The ratings reflect these distinctions, with OANDA earning a commendable 4-star rating for its range of investments, ranking it 27th out of 63 brokers on ForexBrokers.com. FXPrimus, with a slightly more limited scope of offerings, holds a 3.5-star rating, placing it at 59th in the same category. These differences highlight OANDA's broader investment spectrum, which can cater better to traders seeking diversity in their investment portfolios.
| Feature |
OANDA
|
FXPrimus
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3928 | 140 |
| Forex Pairs (Total) | 68 | 42 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | No |
| Cryptocurrency (Derivative) | 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.
When comparing OANDA and FXPrimus for their trading platforms and tools, both brokers provide strong features for traders at all levels. Each offers a complimentary, simulated demo account, allowing users to practice strategies risk-free. They both have developed proprietary trading platforms alongside support for MetaTrader 4 (MT4) and MetaTrader 5 (MT5) for those seeking additional flexibility. Both platforms are accessible on Windows-based desktop applications as well as web-based trading platforms, ensuring ease of access regardless of the user's preference. Moreover, both OANDA and FXPrimus support copy trading, though neither offers DupliTrade or ZuluTrade.
For traders who thrive on analytical tools, OANDA edges out with 431 drawing tools, compared to FXPrimus's 15, providing extensive resources for technical analysis. Both brokers allow trading directly from the stock chart, enhancing the user experience. While OANDA and FXPrimus both score four out of five stars for their trading platforms and tools, they differ in ranking within the broader market. OANDA ranks #15, substantially higher than FXPrimus, which stands at #49 out of 63 brokers as evaluated by ForexBrokers.com. Additionally, when it comes to customization, OANDA offers six columns for watch lists, slightly less than the seven columns provided by FXPrimus. Overall, both brokers present reliable platforms, but OANDA seems to offer a more comprehensive suite of analytical tools.
| Feature |
OANDA
|
FXPrimus
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| 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) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 81 | 30 |
| Charting - Drawing Tools (Total) | 431 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of OANDA and FXPrimus, both brokers offer easy access for iPhone and Android users, stock and forex price alerts, and the ability to create watchlists with real-time quotes. Additionally, both apps come equipped with the same number of technical studies—30 in total—and allow users to draw trendlines and view multiple time frames such as daily and weekly charts. However, one limitation shared by both platforms is the absence of watchlist symbol syncing between the mobile app and the online account.
Despite these similarities, OANDA edges out FXPrimus in several key aspects. OANDA’s app has garnered a five-star rating, outperforming FXPrimus's four-star rating, and it ensures auto-saving of chart drawings, providing a seamless user experience. Importantly, OANDA is ranked 7th out of 63 brokers for its mobile app capabilities, while FXPrimus is positioned significantly lower at 48th according to ForexBrokers.com. Whether you're focusing on charting tools or overall user experience, OANDA appears to offer more to mobile traders looking for a comprehensive trading app.
| Feature |
OANDA
|
FXPrimus
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
OANDA and FXPrimus both provide daily market commentary and offer accessible economic calendars, keeping traders informed about current and upcoming global news events. However, OANDA distinguishes itself with additional offerings such as forex news from top-tier sources like Bloomberg and Reuters, as well as advanced tools like the Autochartist for technical analysis. Additionally, OANDA provides a sentiment-based trading tool that helps traders understand market mood by showing the ratio of long or short positions across currency pairs.
While both brokers have some similar features, OANDA's comprehensive market research resources earn it a 5-star rating and a #5 ranking for research by ForexBrokers.com. In contrast, FXPrimus lacks many of these in-depth tools and resources, resulting in a lower research rating of 3 stars and a #58 ranking in the same category. This makes OANDA a more research-focused platform, offering a richer set of features for traders looking to make informed decisions.
| Feature |
OANDA
|
FXPrimus
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both OANDA and FXPrimus provide foundational materials to help users understand forex and CFDs. Each offers a collection of educational content, including articles, videos, and archived webinars, to get beginners started on the right foot. Additionally, both brokers schedule online educational webinars monthly, bolstered by searchable archives of past webinars, ensuring ongoing learning opportunities. However, OANDA pulls ahead by providing over 10 beginner-focused videos, an area where FXPrimus lacks depth.
For those seeking to deepen their knowledge, OANDA provides advanced educational videos for more experienced traders, whereas FXPrimus does not. Furthermore, OANDA offers an investor dictionary with over 50 terms, a tool absent from FXPrimus's offerings. Overall, OANDA's comprehensive approach to education is reflected in its higher rating, earning 5 stars and ranking 22nd out of 63 brokers. Conversely, FXPrimus, rated 3 stars, ranks 51st, indicating room for improvement in its educational resources.
| Feature |
OANDA
|
FXPrimus
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that OANDA is better than FXPrimus. OANDA finished with an overall rank of #12, while FXPrimus finished with an overall rank of #53.
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.
| Feature |
OANDA
|
FXPrimus
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 71 |
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OANDA provides both the opportunity to purchase actual cryptocurrency and trade cryptocurrency derivatives, while FXPrimus solely offers the option to trade cryptocurrency derivatives and not the actual cryptocurrencies.
When comparing the online brokers OANDA and FXPrimus, OANDA provides more diverse funding options, including ACH and SEPA transfers, and PayPal, in addition to common methods like Skrill, Visa or Mastercard, and bank wires, while FXPrimus supports Skrill, Visa or Mastercard, and bank wires, but lacks ACH, SEPA, and PayPal options.
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 | OANDA | FXPrimus | |
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| Trust Score | 93 | 71 | |
| Winner | check_circle | ||
| Review | OANDA Review |
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| Regulation | OANDA | FXPrimus | |
|---|---|---|---|
| Trust Score | 93 | 71 | |
| Year Founded | 1996 | 2009 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | OANDA | FXPrimus | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | OANDA | FXPrimus | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | OANDA | FXPrimus | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3928 | 140 | |
| Forex Pairs (Total) | 68 | 42 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | No | |
| Cryptocurrency (Derivative) | 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 | OANDA | FXPrimus | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.61 | N/A | |
| All-in Cost EUR/USD - Active | 1.61 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | FXPrimus | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | OANDA | FXPrimus | |
|---|---|---|---|
| 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) | Yes | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | OANDA | FXPrimus | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 81 | 30 | |
| Charting - Drawing Tools (Total) | 431 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | FXPrimus | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | OANDA | FXPrimus | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | FXPrimus | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | OANDA | FXPrimus | |
|---|---|---|---|
| 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 | |
| Review | OANDA Review |
| Overall | OANDA | FXPrimus | |
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| Trust Score | 93 | 71 | |
| Winner | check_circle | ||
| Review | OANDA Review |
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