After spending seven months and hundreds of hours researching 43 different forex brokers
for trading FX, our team at ForexBrokers.com team collected over 6,000 data points. For this review, we will compare FxPro vs OANDA.
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. FxPro is a better option with a 4.00 star rating over OANDA's 3.50 star rating.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. FxPro alongside OANDA are regulated in a major hub. Neither FxPro and OANDA are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. FxPro trails OANDA by 1 total currency pairs (for example, EUR/USD), with OANDA offering 71 and FxPro offering 70.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. FxPro alongside OANDA offer Meta Trader. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. FxPro and OANDA offer the same number of charting tools, 31. Both FxPro and OANDA provide clients with access to 51 total indicators (eg, moving averages).
Overall, both FxPro and OANDA hold a 4.00 star rating. And, when it comes to individual category awards, both FxPro and OANDA found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education in 2018.