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OANDA vs TopFX 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is OANDA better than TopFX? In our analysis of 23 international regulators across 62 of the best forex brokers, OANDA is considered low-risk, with an overall Trust Score of 92 out of 99. TopFX is considered high-risk, with an overall Trust Score of 67 out of 99. Learn more about Trust Score.

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Overall RatingOANDATopFX
Overall Rating 4.5/5 Stars 3.5/5 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 4/5 Stars
Mobile Trading 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 3/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score 92 67
Winner check_circle
Review OANDA Review TopFX Review
RegulationOANDATopFX
Trust Score 92 67
Year Founded 1996 2010
Publicly Traded (Listed) No No
Bank No No
Authorised in European Union Yes info No info
Tier-1 Licenses 6 0
Tier-2 Licenses 0 1
Tier-3 Licenses 1 0
Tier-1 Licenses (High Trust)OANDATopFX
ASIC Authorised (Australia) Yes No
IIROC Authorised (Canada) Yes No
SFC Authorised (Hong Kong) No No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) Yes No
MAS Authorised (Singapore) Yes No
FINMA Authorised (Switzerland) No No
FCA Authorised (U.K.) Yes No
CFTC Registered (USA) Yes No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)OANDATopFX
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) No Yes
SEBI Authorised (India) No No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No No
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) No No
Tier-3 Licenses (Low Trust)OANDATopFX
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) Yes No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No No
InvestmentsOANDATopFX
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 124 655
Forex Pairs (Total) 71 60
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 (CFD) 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).
CostOANDATopFX
Average Spread EUR/USD - Standard 1.26 info N/A info
All-in Cost EUR/USD - Active 1.26 info N/A info
Active Trader or VIP Discounts Yes No
Execution: Agency Broker No No
Execution: Market Maker Yes Yes
FundingOANDATopFX
Minimum Deposit $0 Depends on payment method
PayPal (Deposit/Withdraw) Yes Yes
Skrill (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsOANDATopFX
Proprietary Platform Yes No
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
Social Trading / Copy Trading Yes Yes
MetaTrader 4 (MT4) Yes Yes
MetaTrader 5 (MT5) Yes No
cTrader No Yes
DupliTrade No No
ZuluTrade Yes No
Trading ToolsOANDATopFX
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 TradingOANDATopFX
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 33 30
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave Yes Yes
Forex Calendar Yes Yes
ResearchOANDATopFX
Daily Market Commentary Yes No
Forex News (Top-Tier Sources) Yes Yes
Autochartist Yes Yes
Trading Central (Recognia) No Yes
Social Sentiment - Currency Pairs Yes Yes
Economic Calendar Yes Yes
EducationOANDATopFX
Has Education - Forex or CFDs Yes No
Client Webinars Yes No
Client Webinars (Archived) Yes No
Videos - Beginner Trading Videos Yes No
Videos - Advanced Trading Videos Yes No
Investor Dictionary (Glossary) Yes No
Major Forex PairsOANDATopFX
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 TopFX Review
OverallOANDATopFX
Overall Rating 4.5/5 Stars 3.5/5 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 4/5 Stars
Mobile Trading 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 3/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score 92 67
Winner check_circle
Review OANDA Review TopFX Review
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OANDA vs TopFX Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare OANDA vs TopFX.

Does OANDA or TopFX 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 OANDA or TopFX safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. OANDA holds 6 global Tier-1 licenses, while TopFX holds 0. TopFX holds 1 global Tier-2 licenses, while OANDA holds 0. In our analysis of 23 international regulators across 50 brokers, OANDA earned a higher Trust Score than TopFX.

Which trading platform is better: OANDA or TopFX?

To compare the trading platforms of both OANDA and TopFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, OANDA offers a better experience. With research, OANDA offers superior market research. Finally, we found OANDA 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. Both OANDA and TopFX offer MetaTrader 4 (MT4).OANDA and TopFX both offer copy trading.

How many forex pairs and CFDs are available to trade?

OANDA provides traders 71 currency pairs (e.g., EUR/USD) compared to TopFX's 60 available pairs. Forex pairs aside, TopFX offers traders access to 655 CFDs while OANDA has 124 available CFDs, a difference of 531.

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 one 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).

Can I trust TopFX?

TopFX is not publicly traded and does not operate a bank. TopFX is authorised by zero tier-1 regulators (high trust) and one tier-2 regulator (average trust).

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 TopFX good?

TopFX offers the MetaTrader and cTrader platform suites, and grants access to a medium range of CFD markets and forex pairs. However, TopFX struggles to compete with the best brokers in several categories, including market research and education.

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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