Forex.com vs Oanda: Comparison and Analysis

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.