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OANDA vs TopFX 2022

ForexBrokers.com

Written by ForexBrokers.com

November 08, 2022

Is OANDA better than TopFX? In our analysis of 23 international regulators across 39 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 RatingOANDATopFXIG
Overall Rating4.5 Stars3.5 Stars5 Stars
Commissions & Fees4 Stars4 Stars5 Stars
Offering of Investments3.5 Stars3.5 Stars5 Stars
Platform & Tools4 Stars4 Stars5 Stars
Mobile Trading4.5 Stars4 Stars5 Stars
Research4.5 Stars3 Stars5 Stars
Education4 Stars3 Stars5 Stars
Trust Score926799
Winnercheck_circle
ReviewOANDA ReviewTopFX ReviewIG Review
RegulationOANDATopFXIG
Trust Score926799
Year Founded199620101974
Publicly Traded (Listed)NoNoYes
BankNoNoYes
Tier-1 Licenses607
Tier-2 Licenses012
Tier-3 Licenses101
Authorised in European UnionYesNoYes
About RegulationA โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.
Tier-1 Licenses (High Trust)OANDATopFXIG
ASIC Authorised (Australia)YesNoYes
IIROC Authorised (Canada)YesNoNo
SFC Authorised (Hong Kong)NoNoNo
CBI Authorised (Ireland)NoNoNo
FSA Authorised (Japan)YesNoYes
MAS Authorised (Singapore)YesNoYes
FINMA Authorised (Switzerland)NoNoYes
FCA Authorised (U.K.)YesNoYes
CFTC Registered (USA)YesNoYes
FMA Authorised (New Zealand)NoNoYes
Tier-2 Licenses (Average Trust)OANDATopFXIG
CBRC Authorised (China)NoNoNo
CySEC Authorised (Cyprus)NoYesNo
SEBI Authorised (India)NoNoNo
ISA Authorised (Israel)NoNoNo
CBR Authorised (Russia)NoNoNo
FSCA Authorised (South Africa)NoNoYes
SEC Authorised (Thailand)NoNoNo
DFSA / Central Bank Authorised (UAE)NoNoYes
Tier-3 Licenses (Low Trust)OANDATopFXIG
SCB Authorised (Bahamas)NoNoNo
IFSC Authorised (Belize)NoNoNo
CIMA Authorised (Cayman Islands)NoNoNo
BMA Authorised (Bermuda)NoNoYes
FSC Authorised (British Virgin Islands)YesNoNo
FSC Authorised (Mauritius)NoNoNo
VFSC Authorised (Vanuatu)NoNoNo
InvestmentsOANDATopFXIG
Forex Trading (Spot or CFDs)YesYesYes
Tradeable Symbols (Total)12465519537
Forex Pairs (Total)7160100
U.S. Stock Trading (Non CFD)NoNoYes
Int'l Stock Trading (Non CFD)NoNoYes
Social Trading / Copy TradingYesYesYes
Cryptocurrency (Physical)YesNoNo
Cryptocurrency (CFD)YesYesYes
DisclaimersNote: 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).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).
CostOANDATopFXIG
Average Spread EUR/USD - Standard1.26 (5/22-5/27/22)N/A0.86 (September 2022)
All-in Cost EUR/USD - Active1.26 (5/22-5/27/22)N/A0.5957 (September 2022)
Active Trader or VIP DiscountsYesNoYes
Execution: Agency BrokerNoNoYes
Execution: Market MakerYesYesYes
FundingOANDATopFXIG
Minimum Initial Deposit$0Depends on payment methodยฃ250.00
PayPal (Deposit/Withdraw)YesYesYes
Skrill (Deposit/Withdraw)YesYesNo
Visa/Mastercard (Credit/Debit)YesYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Trading PlatformsOANDATopFXIG
Proprietary PlatformYesNoYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
Social Trading / Copy TradingYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)YesNoNo
cTraderNoYesNo
DupliTradeNoNoNo
ZuluTradeYesNoNo
Trading ToolsOANDATopFXIG
Virtual Trading (Demo)YesYesYes
Alerts - Basic FieldsYesYesYes
Watchlists - Total Fields6714
Charting - Indicators / Studies (Total)813033
Charting - Drawing Tools (Total)4311520
Charting - Trade From ChartYesYesYes
Charts can be savedYesYesYes
Mobile TradingOANDATopFXIG
Android AppYesYesYes
Apple iOS AppYesYesYes
Mobile Alerts - Basic FieldsYesYesYes
Mobile WatchlistYesYesYes
Watchlist SyncingNoNoYes
Mobile Charting - Indicators / Studies333033
Mobile Charting - Draw TrendlinesYesYesYes
Mobile Charting - Multiple Time FramesYesYesYes
Mobile Charting - Drawings AutosaveYesYesYes
Forex CalendarYesYesYes
ResearchOANDATopFXIG
Daily Market CommentaryYesNoYes
Forex News (Top-Tier Sources)YesYesYes
AutochartistYesYesYes
Trading Central (Recognia)NoYesNo
Social Sentiment - Currency PairsYesYesYes
Economic CalendarYesYesYes
EducationOANDATopFXIG
Has Education - Forex or CFDsYesNoYes
Client WebinarsYesNoYes
Client Webinars (Archived)YesNoYes
Videos - Beginner Trading VideosYesNoYes
Videos - Advanced Trading VideosYesNoYes
Investor Dictionary (Glossary)YesNoYes
Major Forex PairsOANDATopFXIG
GBP/USDYesYesYes
USD/JPYYesYesYes
EUR/USDYesYesYes
USD/CHFYesYesYes
USD/CADYesYesYes
NZD/USDYesYesYes
AUD/USDYesYesYes
ReviewOANDA ReviewTopFX ReviewIG Review
OverallOANDATopFXIG
Overall Rating4.5 Stars3.5 Stars5 Stars
Commissions & Fees4 Stars4 Stars5 Stars
Offering of Investments3.5 Stars3.5 Stars5 Stars
Platform & Tools4 Stars4 Stars5 Stars
Mobile Trading4.5 Stars4 Stars5 Stars
Research4.5 Stars3 Stars5 Stars
Education4 Stars3 Stars5 Stars
Trust Score926799
Winnercheck_circle
ReviewOANDA ReviewTopFX ReviewIG Review
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OANDA vs TopFX Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 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, IG 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, IG offers a better experience. With research, IG offers superior market research. Finally, we found IG 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: IG

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We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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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