FOREX.com vs OANDA Comparison: Which Is Better for Traders?
We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support.
Who is better - FOREX.com or OANDA?
Our pick: OANDA
Based on multiple factors - spreads and fees, available assets and instruments, execution quality, platform usability, support level, and educational resources - OANDA looks preferable to FOREX.com.
OANDA scored 4.3/5 and ranks 28 in our all Forex brokers list, whereas FOREX.com has 4.1/5 and ranks 37.
This is not financial advice. See the full comparison below.
Who is FOREX.com suitable for?
FOREX.com is suitable for traders of all levels due to its reliability, wide range of assets, and excellent customer service.
Who is OANDA suitable for?
Oanda is suitable for beginners and experienced traders, thanks to quality analytics and various educational materials.
Comparison Table of FOREX.com and OANDA
| Broker | FOREX.com | OANDA |
|---|---|---|
| Rating | 4.1/5 | 4.3/5 |
| Foundation Year | 2000 | 2001 |
| Regulated in Countries | Cayman Islands, United Kingdom, United States, Cyprus, Hong Kong, Japan, Singapore, Australia | United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland |
| Minimum Deposit |
|
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| Spread | from 0.1 points | from 0.5 points |
| Max Leverage | 1:50 | 1:200 |
| Trading Assets (CFDs) |
|
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| Trading Platforms |
|
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| Review | FOREX.com Review | OANDA Review |
FOREX.com Review
FOREX.com is an excellent broker for trading in the Forex and CFD markets. They offer fast execution speeds, a wide selection of currency pairs, and other assets for trading. Their customer service is outstanding, and multiple financial authorities regulate them.
Pros and Cons of FOREX.com
Pros
- Broker with many years of history and a global reputation.
- A variety of deposit methods.
- A wide variety of available markets and products.
- Advanced analytical tools and daily updates from the company's professionals.
- Comprehensive educational materials for all levels of traders.
Cons
- Lack of specialized accounts.
- High transaction fee on DMA Account.
FOREX.com is in the top 10 of the following ratings:
OANDA Review
Oanda is an excellent choice for traders seeking a reliable and regulated broker with competitive spreads and various trading assets.
With quality analytics and diverse educational materials, Oanda suits beginners and experienced traders.
Pros and Cons of OANDA
Pros
- Tight spreads.
- Diverse markets and products.
- Advanced trading platforms.
- Quality analytics.
- Extensive learning section.
Cons
- Limited trading account types.
- Inactivity fee.
- High swaps.
OANDA is in the top 10 of the following ratings:
Reliability
| Broker | FOREX.com | OANDA |
|---|---|---|
| Reliability | 5/5 | 5/5 |
| Foundation Year | 2000 | 2001 |
| Regulated in Countries | Cayman Islands, United Kingdom, United States, Cyprus, Hong Kong, Japan, Singapore, Australia | United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland |
| Regulators | CIMA CIMA FCA FCA CIRO CIRO CySEC CySEC NFA NFA CFTC CFTC SFC SFC JFSA JFSA MAS MAS ASIC ASIC | NFA NFA CFTC CFTC ASIC ASIC CIRO CIRO FCA FCA JFSA JFSA BVIFSC BVIFSC MAS MAS KNF KNF |
FOREX.com
The company is strictly regulated, has a long-standing market presence, and is open to investors.
Pros
- Broad global regulation.
- Long-term market presence.
- Parent company traded on NASDAQ.
OANDA
Oanda demonstrates a high level of reliability, evidenced by licenses from the world's leading regulators.
Account Opening
| Broker | FOREX.com | OANDA |
|---|---|---|
| Account Opening | 4/5 | 4.5/5 |
| Minimum Deposit |
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|
FOREX.com
The account opening process at FOREX.com is quite standard but potentially prolonged due to required verification.
Pros
- Transparent registration process.
- Strict verification for security.
Cons
- Verification may take time.
- A lot of information is required.
OANDA
Oanda offers a straightforward and structured registration process, ensuring convenience for clients.
Pros
- Clearly structured registration process.
- No minimum deposit, offering flexibility for traders.
Cons
- Additional documents may be required in some cases.
- Document verification can take from 1 to 2 working days.
Account Types
| Broker | FOREX.com | OANDA |
|---|---|---|
| Account Types | 3.5/5 | 3/5 |
| Trading Accounts |
|
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| Minimum Deposit |
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| Spread | from 0.1 points | from 0.5 points |
| Max Leverage | 1:50 | 1:200 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Demo Account | ||
| Swap-free Account |
FOREX.com
FOREX.com offers standard account types that satisfy most traders, but some essential accounts are missing.
Pros
- Direct Market Access account available.
- Demo account for strategy testing.
- The ability to trade on behalf of a company.
Cons
- No cent accounts.
- No Islamic accounts.
- No options for passive investing.
OANDA
Oanda provides various trading accounts, but some specialized types are missing.
Pros
- Standard accounts are available.
- Demo accounts are offered.
- Swap Free accounts are available for traders following Islamic principles.
Cons
- Cent accounts are missing.
- No fixed spread accounts.
- No investment accounts are available.
Commissions
| Broker | FOREX.com | OANDA |
|---|---|---|
| Commissions | 2.2/5 | 3.5/5 |
| Spread | from 0.1 points | from 0.5 points |
| Average Spread (EURUSD) | 1.3 | 0.8 |
| Commission per Lot | $6.48 |
FOREX.com
FOREX.com's commissions are above average. Conditions can be improved for traders with high volumes.
Pros
- Potential reduction in commissions with increased trading volume.
- Rebate program for major American traders.
- No fees for deposits and withdrawals.
Cons
- High transaction commission on DMA accounts.
- Inactivity fee.
- High swaps.
OANDA
Oanda's fees are moderate, making this broker competitive.
Pros
- No fees for deposits and withdrawals.
- Low spreads on major currency pairs.
Cons
- Inactivity fee is charged.
- Swaps may be high for some currency pairs.
Deposit and Withdrawal
| Broker | FOREX.com | OANDA |
|---|---|---|
| Rating | 4.3/5 | 4/5 |
| Account Funding Methods |
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FOREX.com
FOREX.com provides diverse and convenient methods for depositing and withdrawing funds with low costs and reasonable processing times.
OANDA
Oanda offers flexible conditions for depositing and withdrawing funds, but payment system commissions and currency conversion costs may apply.
Pros
- The broker does not charge a fee for deposits and withdrawals.
- A wide selection of payment systems is available.
- No restrictions on the amounts of deposits and withdrawals.
Cons
- High commission fees for certain methods by payment systems.
- Withdrawal request processing time may be long.
- Cryptocurrencies are not available as a payment method.
Markets and Products
| Broker | FOREX.com | OANDA |
|---|---|---|
| Markets and Products | 4.5/5 | 4.4/5 |
| Forex | 91 | 48 |
| Precious Metals | 16 | 3 |
| Energy Carriers | 14 | 3 |
| Soft Commodities | 22 | 4 |
| Indices | 54 | 18 |
| Stocks | 5500 | 1607 |
| ETF | 318 | - |
| Bonds | 14 | - |
| Cryptocurrency | 12 | 18 |
FOREX.com
Although its leverage is relatively low, FOREX.com offers an extensive selection of markets and products.
OANDA
Oanda offers an extensive set of markets and products, making it a versatile choice for traders of different levels.
Pros
- A wide range of currency pairs.
- A large selection of stocks and indices.
- Access to cryptocurrency trading.
Cons
- Maximum leverage is only up to 1:200.
Trading Platforms
| Broker | FOREX.com | OANDA |
|---|---|---|
| Rating | 5/5 | 5/5 |
| Trading Platforms |
|
|
FOREX.com
FOREX.com provides a wide choice of trading platforms, including MT4, its proprietary platform, NinjaTrader, and TradingView, supporting all formats - online, desktop, and mobile applications.
OANDA
Oanda provides high-quality trading platforms with deep functionality and integration with TradingView.
Pros
- Access to classic platforms MT4 and MT5.
- The fxTrade mobile app with integration with MT5.
- Integration with TradingView.
Cons
- No MetaTrader alternatives for desktop devices.
Analytics
| Broker | FOREX.com | OANDA |
|---|---|---|
| Rating | 5/5 | 5/5 |
FOREX.com
Analytics at FOREX.com is a powerful tool for traders, providing extensive information and in-depth market analysis.
OANDA
The Oanda broker's analytical section offers many tools that help traders make informed decisions.
Education
| Broker | FOREX.com | OANDA |
|---|---|---|
| Rating | 5/5 | 4.5/5 |
FOREX.com
FOREX.com offers a rich educational program suitable for all levels of traders, enhancing the user experience.
OANDA
Oanda provides an extensive range of educational resources, catering to new and experienced traders, focusing on leveraged trading.
Pros
- Comprehensive coverage of fundamental and technical analysis.
- Variety of resources including webinars, workshops, and live market analysis.
- Free access to premium content for live account holders.
Cons
- Some advanced topics may not be covered in depth.
Customer Support
| Broker | FOREX.com | OANDA |
|---|---|---|
| Rating | 5/5 | 5/5 |
| Email Support |
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| Hotline Phones |
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| Social Media |
Facebook
Twitter
YouTube
LinkedIn
InstagramFOREX.com
FOREX.com provides excellent technical support with fast and professional service, available 24/7.
OANDA
Oanda's technical support provides extensive communication options and round-the-clock service, ensuring the professionalism and efficiency of the solutions provided.
Comparisons of FOREX.com and OANDA with other brokers
Conclusion
OANDA stands out as the better overall pick, while FOREX.com trails on aggregate criteria.
OANDA scored 4.3/5 and ranks 28 in our rating; FOREX.com has 4.1/5 and ranks 37.
We explain the reasons above in detail — fees, platforms, reliability, support, and more.
FAQ
Which broker is better: FOREX.com or OANDA?
OANDA comes out ahead by overall rank (score 4.3/5, position 28) versus FOREX.com (score 4.1/5, position 37).
Which broker is better for beginners: FOREX.com or OANDA?
OANDA is often a smoother start thanks to simpler onboarding and stronger baseline metrics. Still, your tools and budget should drive the final choice.
Who has lower typical trading costs (spreads/commissions) — FOREX.com or OANDA?
It depends on the instrument and account type. Compare the live conditions in the “Commissions” section on this page — we break down the nuances category by category.
What trading platforms are available with FOREX.com and OANDA?
FOREX.com: FOREX.com, Ninja Trader, MetaTrader 4, TradingView. OANDA: MetaTrader 5, MetaTrader 4, TradingView, fxTrade. See the “Platforms” section for details and selection tips.
What markets can you trade with FOREX.com and OANDA?
FOREX.com: Forex, Precious Metals, Energy Carriers, Soft Commodities, Indices, Stocks, ETF, Bonds, Cryptocurrency. OANDA: Forex, Precious Metals, Energy Carriers, Soft Commodities, Indices, Stocks, Cryptocurrency. Full lists and differences are in the “Markets” section.
What account types are offered by FOREX.com and OANDA?
FOREX.com: Standard, MT4, DMA. OANDA: Standard, Swap Free. See “Account Types” for a side-by-side comparison.
What deposit and withdrawal methods are supported by FOREX.com and OANDA?
FOREX.com: Neteller, Skrill, Bank Transfer, Credit and Debit Cards. OANDA: Skrill, Neteller, Swift, Visa, Mastercard. Check method-specific fees/settlement times.
Which broker is safer — FOREX.com or OANDA — and how was this assessed?
We consider regulation, corporate transparency, fund protection, and incident history. See the “Reliability” section for our findings.
