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Forex.com vs Oanda: Comparison and Analysis

Trying to figure out whether to use Forex.com or Oanda? This comparison article lays out the features of both brokers in detail, so you can see which is the best platform according to your Forex trading needs.

We’ve compared more than 100 variables and features so you can see the pros and cons of Forex.com and Oanda side by side. We’ve divided the comparisons into a logical structure so it’s easy to navigate.

Scroll the whole post below, or use the quick menu to jump to the relevant section and see which of these two renowned Forex trading platforms better suits your trading needs.

Open Account
81% of retail investor accounts lose money
Forex.com review
Open Account
CFDs are not available to residents in the United States
Oanda review

Overall Ratings


Rated
81
Rated
80

General Breakdown. This graph highlights the key scores from each Macro, uniquely calculated by us.

  • Forex.com
  • Oanda

Security 95
Security 94

Cost 69
Cost 73

Trading 75
Trading 71

Education 82
Education 80

Company Info


Foundation
1999
1996
Is it Regulated?
Is it Publicly Traded?
Is it a Bank?
Segregated Clients Funds ?
No-ESMA Branches? ?
Accepts EU Clients?
Accepts US Clients?
Accepts Canadian Clients?
Website Languages
en, chi
en, de, es, fr, ru, it, chi

Leverage


Non-EU Leverage ?
400:1
50:1
European Leverage ?
30:1
30:1
Australian Leverage ?
30:1
30:1
US Leverage ?
50:1
50:1
Canadian Leverage ?
50:1
50:1

Tier 1 Regulation


FSA ?
MAS ?
FINMA ?
FCA ?
CFTC ?
MIFID-ESMA ?
ASIC ?
CIRO ?
SFC ?

Tier 2 Regulation


FMA ?
CBR ?
FSCA ?
SEC ?
DFSA ?
CBRC ?
CySEC ?
ISA ?

Tier 3 Regulation


Offshore ?
MMA (Maldives) ?
EDR ?
FSA (Seychelles) ?
SCB (Bahamas) ?
FSC (Mauritius) ?
VFSC (Vanuatu) ?
IFSC (Belize) ?
CIMA (Cayman Islands) ?
SVG (Saint Vincent and the Grenadines) ?
FSRC (St. Kitts & Nevis) ?
BMA (Bermuda) ?
BVI (British Virgin Islands) ?

Brand Power


SimilarWeb - Website Ranking
52385
10515
SimilarWeb - Total Visits
8370000
Facebook Likes
36211
66508
Twitter Likes
146200
18400
Instagram Likes
562

Deposit and Withdrawal


Minimum Deposit ?
100 USD
Minimum Withdraw ?
Credit Card ?
Bank Transfer ?
PayPal
Neteller
Skrill
Other Methods Available ?
Deposit Waiting Time ?
1-2 business days
1-2 business days
Withdraw Waiting Time ?
1-2 business days
1-2 business days
Bonus Program ?

Costs and Fees


Deposit Fees ?
Withdrawal Commissions ?
Overnight/Swap Fee ?
Inactivity Fee ?
Conversion Fee ?

Account Types


Demo Account ?
Demo Account Expiration ?
Account Currencies ?
EUR, GBP, USD
USD
Standard Account ?
Micro Account ?
Low-cost Account ?
Variable Spread Account ?
Fixed Spread Account ?
Zero Spread Account ?
ECN Account ?
Swap Free Account ?
Islamic Account ?
Professional Traders Account ?
Active Trader Program ?

Commodities


Crude Oil ?
3.0
Natural Gas ?
0.6
Silver ?
1.4
277.0
Platinum ?
833.4
Copper ?
Soybeans ?
1.0
Corn ?
2.0
Gold ?
0.45
205.6

Forex Fixed Spreads


EUR/GBP Spread
EUR/USD Spread
USD/JPY Spread
GBP/USD Spread
USD/CHF Spread
AUD/USD Spread
USD/CAD Spread
NZD/USD Spread

Forex Variable Spreads


EUR/USD Average Spread
1.3
0.1
USD/JPY Average Spread
1.5
0.2
USD/CHF Average Spread
1.9
0.2
GBP/USD Average Spread
2
0.2
USD/CAD Average Spread
2.0
0.2
AUD/USD Average Spread
1.6
0.2
NZD/USD Average Spread
3.2
0.2
EUR/GBP Average Spread
1.9
0.2

Fees on Stocks


Apple
0.01
Facebook
0.04
Alphabet
0.30
Snapchat
BP
Tesco
Barclays
Lloyds

Fees on Indices


FTSE100
1.3
0.8
S&P500
0.6
0.3
Dow Jones
Nasdaq
1.5
0.5
CAC40
1.5
1.2
DAX30
1.5
0.9
Nikkei 225
15.0
Euro Stoxx 50
2.3
0.9

Fees on Cryptocurrencies


Bitcoin
1
0
Ethereum
1.2
0
Ripple
60.0
0
Litecoin
0.5
0
Bitcoin Cash
2.0
0
Dash
0
0
Monero
0
0
Neo
0
0

Platforms


cTrader Desktop
cTrader Web
Mirror Trader
ZuluTrade ?
MT4 Dekstop
MT4 Web
MT5 Desktop
MT5 Web
Proprietary Desktop Platform
Proprietary Web Platform
MAC Platforms
Sirix

Mobile Trading


Android ?
iOS ?
Windows ?
Trading Signals on Mobile ?
Smart Watch App ?
Forex Trading ?
CFD Trading ?
Alerts ?
Chartings-Drawing Tools ?
Mobile Available Language ?
en, ar, chi
en, de, es, fr, ru, ko, chi
Watchlist Mobile ?

Available Markets


Forex Pairs ?
80
55
Crypto ?
80
55
Commodities ?
12
31
Stocks ?
220
Indices ?
18
16
ETF ?
1
Futures ?
1
Options ?
1
Bonds ?
1
6
Metal ?
5
5
Agricultural ?
3
4
Energies ?
2
3
Interest Rates ?
Penny Stocks ?
IPO ?
Blends ?
1
Dow Jones ?
FTSE ?
Dax ?
Nikkei ?
Gold Market ?
Bitcoin ?
Real Assets ?

Trading Execution


Direct Market Access (DMA) ?
Straigh Through Processing (STP) ?
Electronic Communication Network (ECN) ?
Market Maker ?
Non Dealing Desk (NDD) ?
FIFO Applies? ?
4 Digits Decimal Pricing ?
5 Digits Decimal Pricing ?

Risk Management


Stop Losses ?
Take Profits ?
Limit Orders ?
Trailing Stop ?
Margin Call ?
OCO Orders ?
Guaranteed Stop Loss ?
Negative Balance Protection ?
Minimum Trade Size ?
0.01 lots
0.00001 lots
Maximum Trade Size ?
100 lots
100 lots

Special Trading Conditions


MAM ?
PAMM ?
Social Trading ?
Copy Trading ?
LAMM ?

Available Trading Techniques


Scalping ?
Hedging ?
Spread Betting ?
Expert Advisor (EA) ?
Virtual Private Server ?
API ?

Trading Tools


One-Click Trading ?
Signal Trading ?
Price Alerts ?
Number Chart Indicators ?
139
51
Number Chart Drawing Tools ?
22
31
Trade Directly From Chart ?
Watchlist ?

Education


Education Center ?
Webinars
Platform Tutorial Video ?
Video on Trading for Beginners ?
Video on Trading for Experts ?
Tutorial Guide
Glossary

Customer Support


Call Back Request ?
Email Support
Phone Support
Live Chat
Support Language Available
en, chi
en, de, es, ru, chi

Research


Professional Reports
Social Trading Features - Social Feeds ?
Economic Calendar
Daily Email With Trading Ideas
Analysis From Trading Central (Recognia)
Analysis From Delkos Research
AutoChartist
Traders Sentiment ?
News via Twitter
News via FaceBook
Daily Market Commentary

About Forex.com and Oanda

Both Forex.com and Oanda are two incredibly renowned Forex brokers that have been in the Forex trading industry for over a decade. So yes, if you’re looking for an experienced, tried, and trusted online trading platform, both platforms tick these boxes.

Forex.com is a US-based Forex broker. The platform was founded in 2001 and is now considered one of the best places for Forex traders worldwide. Oanda is an even older platform, with its roots reaching back to 1995. It’s now one of the largest Forex brokers in the industry, connecting traders from all over the globe.

Oanda vs. Forex.com: Which Trading Platform Offers Better Pricing?

It’s always difficult to compare pricing structures trading platforms have. That’s because they are often very closely matched, and it takes time to really dig deeper into the subject to find out how the platform performs long-term regarding its cost-efficiency.

Having done some research on Oanda and Forex.com, there’s no clear winner, either. Both platforms offer fairly similar trading fees. Forex.com, for instance, offers floating spreads as low as 0.2 pips, with fixed spreads depending on commodities traded. STP commissions can be as low as $2 per lot. The broker doesn’t charge any deposit or withdrawal fees (provided withdrawals are over $10,000), with an inactivity fee being $15/month after 12 months of inactivity.

Oanda, on the other hand, offers only floating spreads that can range from 0 pips or 0.6 pips, depending on the country you trade from. The positive is that both deposits and withdrawals are 100% fee-free. The bad news is that Oanda also charges inactivity fees, although these are lower than at Forex.com, reaching $10/month after 12 months of inactivity (this only applies to paid accounts, not free demo accounts).

So, overall, although the two brokers are very closely matched, we think that Oanda offers a slightly better pricing structure.

Winner: Oanda

Forex.com vs. Oanda: Who Offers a Better Market Selection?

Both Forex.com and Oanda excel when it comes to Forex and CFDs trading. But how do these two brokers compare regarding trading markets available?

Forex.com users can take advantage of the following:

  • Forex Market: Trade over 80 Forex currency pairs with a minimum spread as low as 0.2 pips;
  • Commodities: Forex.com offers 16 commodities (5 metals, 4 energies, and 7 agricultural contracts) as CFDs and Futures;
  • Indices: There are 15 available indices from all over the world;
  • Stocks: Forex.com grants access to over 4,500 most popular US and UK stocks with commissions as low as 0.08%;
  • Cryptocurrencies: The broker offers five popular cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple.

Regarding what Oanda can offer, its selection of markets includes:

  • Forex Market: You can trade over 70 currency pairs with spreads as low as 0.6 pips (or even 0 pips when trading from Australia);
  • Commodities: Oanda offers over 31 commodities to trade;
  • Indices: Oanda users can trade 16 worldwide indices;
  • Bonds: Oanda offers its users bond trading, with 4 US bonds and 1 UK bond available for trading;
  • Bitcoin: You can trade only two crypto assets at Oanda – Bitcoin and Mini Bitcoin.

Given its more extensive selection of available trading assets, including Forex pairs, CFDs, indices, stocks, and cryptocurrencies, we need to give this round to Forex.com.

Winner: Forex.com

Forex.com vs. Oanda: Which Platform Is More Regulated?

Staying safe and secure when online trading is imperative. Therefore, we only recommend brokers that are licensed, transparent about their operations, and that use the latest security features. We’re happy to say that Forex.com and Oanda exceed our expectations regarding their security, ticking all the essential boxes.

Forex.com is regulated by four tier-1 regulators – the Japanese Financial Services Authority (JFSA), Commodity Futures Trading Commission (CFTC), Investment Industry Regulatory Organization of Canada (IIROC), and Financial Conduct Authority (FCA). These are followed by zero tier-2 licenses and one tier-3 regulator.

Oanda is regulated by six tier-1 regulators, including the Australian Securities & Investment Commission (ASIC) and the Monetary Authority of Singapore (MAS), in addition to JFSA, CFTC, IIROC, and FCA, which also regulate Forex.com. Furthermore, like its competitor, Oanda holds zero tier-2 licenses and one tier-3 license.

Having done our research, we need to say that these two platforms are practically identical when it comes to security. That said, there’s no clear winner.

Winner: Tie

Which Platform Is Better? Forex.com or Oanda?

So, which platform is better? Forex.com or Oanda? As you can see from our comparison review, there’s no clear winner here. Both platforms are very closely matched, offering a similar range of markets and security features. The pricing is also comparable. The same goes for the things we didn’t cover here, such as trading tools, research and educational tools, mobile trading experience, etc.

Essentially, the final choice will depend on your individual preference. Both these brokers are excellent platforms for trading Forex and CFDs. If you want to learn more about what they have to offer, be sure to read our comprehensive reviews for Forex.com and Oanda. They will explain what each broker adds to the table in much more detail.

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk. The present page is intended for teaching purposes only. It shall not be intended as operational advice for investments, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility.
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