FP Markets 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 - FP Markets or OANDA?
Our pick: FP Markets
Based on multiple factors - spreads and fees, available assets and instruments, execution quality, platform usability, support level, and educational resources - FP Markets looks preferable to OANDA.
FP Markets scored 4.7/5 and ranks 3 in our all Forex brokers list, whereas OANDA has 4.3/5 and ranks 29.
This is not financial advice. See the full comparison below.
Who is FP Markets suitable for?
FP Markets is optimal for scalpers and algorithmic traders with ECN spreads of 0 pips, active Forex traders, as well as investors interested in copy trading and DMA stocks.
Who is OANDA suitable for?
Oanda is suitable for beginners and experienced traders, thanks to quality analytics and various educational materials.
Comparison Table of FP Markets and OANDA
| Broker | FP Markets | OANDA |
|---|---|---|
| Rating | 4.7/5 | 4.3/5 |
| Foundation Year | 2005 | 2001 |
| Regulated in Countries | Australia, Cyprus, South Africa, Saint Vincent and the Grenadines, Seychelles | United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland |
| Minimum Deposit |
|
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| Spread | from 0 points | from 0.5 points |
| Max Leverage | 1:500 | 1:200 |
| Trading Assets (CFDs) |
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| Trading Platforms |
|
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| Review | FP Markets Review | OANDA Review |
FP Markets Review
FP Markets successfully combines a strict licensing framework, a fast ECN order book with zero spreads, a rich selection of platforms — ranging from classic MT4/5 to TradingView and Iress DMA — and a developed analytics, education, and 24/7 support infrastructure. This combination makes the broker attractive for active scalpers and algorithmic traders who value speed and moderate commission per lot, as well as for investors preferring copy trading, PAMM/MAM, or DMA stocks via Iress. Beginners will benefit from a low entry of 100 AUD, online courses, and no inactivity fees.
Pros and Cons of FP Markets
Pros
- Robust regulation, serious fund protection plus segregated accounts in AA banks.
- Competitive trading conditions: spreads from 0 pip, commission 6 USD/lot; execution ≈ 20 ms on the NY4 server.
- Rich selection of trading platforms.
- Wide range of instruments.
- Numerous deposit/withdrawal methods.
- Strong analytics and education.
- 24/7 support.
Cons
- Lack of cent accounts and fixed spread accounts.
- Some analytical materials and software are accessible only with a deposit or trading volume.
FP Markets 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 | FP Markets | OANDA |
|---|---|---|
| Reliability | 5/5 | 5/5 |
| Foundation Year | 2005 | 2001 |
| Regulated in Countries | Australia, Cyprus, South Africa, Saint Vincent and the Grenadines, Seychelles | United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland |
| Regulators |
FP Markets
Multi-tier licenses from ASIC, CySEC and FSCA, fund segregation, and a spotless regulatory history make FP Markets a reliable partner.
Pros
- Tier-1/Tier-2 licenses (ASIC, CySEC)
- Funds held in AA bank accounts, negative balance protection
- Independent order execution audits
OANDA
Oanda demonstrates a high level of reliability, evidenced by licenses from the world's leading regulators.
Account Opening
| Broker | FP Markets | OANDA |
|---|---|---|
| Account Opening | 5/5 | 4.5/5 |
| Minimum Deposit |
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|
FP Markets
Opening an account completely online: registration in up to 5 minutes, verification within an hour, minimum deposit of 100 AUD — you can start trading on the same day.
Pros
- Fast registration and KYC
- Verification in less than one business day
- Commission-free deposit starting from 100 AUD
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 | FP Markets | OANDA |
|---|---|---|
| Account Types | 4.3/5 | 3/5 |
| Trading Accounts |
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| Minimum Deposit |
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| Spread | from 0 points | from 0.5 points |
| Max Leverage | 1:500 | 1:200 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Demo Account | ||
| Swap-free Account |
FP Markets
The FP Markets account lineup is nearly universal — RAW, Standard, Islamic, Iress DMA, demo, and copy trading services meet the needs of most traders, all starting from 100 AUD.
Pros
- Accounts suitable for every trading style
- Free VPS and copy trading
Cons
- No cent/micro account
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 | FP Markets | OANDA |
|---|---|---|
| Commissions | 4/5 | 3.5/5 |
| Spread | from 0 points | from 0.5 points |
| Average Spread (EURUSD) | 1.2 | 0.8 |
| Commission per Lot | $3 |
FP Markets
Transparent pricing: an average ECN commission of $6 per lot, market spreads of ≈1.2 pips on the Standard account, free deposits, and no inactivity charges make the conditions attractive for most traders.
Pros
- No fees for deposits and withdrawals
- No account inactivity fees
Cons
- The Standard account does not offer ultra-narrow spreads
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 | FP Markets | OANDA |
|---|---|---|
| Rating | 5/5 | 4/5 |
| Account Funding Methods |
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FP Markets
You can fund your account instantly and commission-free via any convenient method, and withdrawals are processed within one business day.
Pros
- 0% commission on all deposits
- Cards, e-wallets, crypto, local banks
- Withdrawals processed in less than one business day
Cons
- 0.5–1% commission on currency conversion
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 | FP Markets | OANDA |
|---|---|---|
| Markets and Products | 5/5 | 4.4/5 |
| Forex | 81 | 48 |
| Precious Metals | 17 | 3 |
| Energy Carriers | 5 | 3 |
| Soft Commodities | 7 | 4 |
| Indices | 18 | 18 |
| Stocks | 566 | 1607 |
| ETF | 58 | - |
| Bonds | 2 | - |
| Cryptocurrency | 12 | 18 |
FP Markets
The FP Markets range covers 700+ CFDs — from 80 currency pairs to DMA stocks on Iress, making portfolio diversification relatively straightforward.
Pros
- 80+ currency pairs, metals, indices, soft commodities
- 500+ CFDs on stocks from Europe, the UK, and the USA
- Leverage up to 1:500 for professional clients
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 | FP Markets | OANDA |
|---|---|---|
| Rating | 5/5 | 5/5 |
| Trading Platforms |
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FP Markets
MT4/5, cTrader, TradingView, and Iress provide FP Markets with an almost complete arsenal: from algorithmic trading to DMA stocks. The versatility and fast NY4 connectivity put FP Markets’ platform suite among the best.
Pros
- 4 platforms, including TradingView and Iress DMA
- Execution ≈ 0.02 sec on NY4, supports bots and API
- Mobile and web versions of MT4/5 plus a proprietary application
Cons
- Iress is fee-based without turnover ≥150 AUD
- No browser-based cTrader Web
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 | FP Markets | OANDA |
|---|---|---|
| Rating | 5/5 | 5/5 |
FP Markets
FP Markets offers a rich analytics suite — Trading Central, Autochartist, Traders Toolbox, TradeMedic, and a daily blog — which covers technical, fundamental, and behavioral analysis; access to some tools requires a deposit/trading volume.
Pros
- Trading Central and Autochartist with alerts
- 12-module Traders Toolbox + TradeMedic
- Economic calendar and daily trading ideas
Cons
- Paid access required for some analytics
OANDA
The Oanda broker's analytical section offers many tools that help traders make informed decisions.
Education
| Broker | FP Markets | OANDA |
|---|---|---|
| Rating | 5/5 | 4.5/5 |
FP Markets
FP Markets offers courses, webinars, podcasts, and e-books ranging from basic to advanced, making its educational resources nearly universal.
Pros
- Regular webinars + an extensive video library
- Online courses for traders of various levels
- Numerous e-books
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 | FP Markets | OANDA |
|---|---|---|
| Rating | 5/5 | 5/5 |
| Email Support |
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| Hotline Phones |
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| Social Media |
Facebook
Twitter
Instagram
LinkedIn
YouTube
Telegram
WhatsappFP Markets
FP Markets’ customer support responds within seconds, operates 24/7, and usually resolves issues on the first contact.
Pros
- 24/7 support
- Multiple support channels
- High support rating
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 FP Markets and OANDA with other brokers
Conclusion
FP Markets stands out as the better overall pick, while OANDA trails on aggregate criteria.
FP Markets scored 4.7/5 and ranks 3 in our rating; OANDA has 4.3/5 and ranks 29.
We explain the reasons above in detail — fees, platforms, reliability, support, and more.
FAQ
Which broker is better: FP Markets or OANDA?
FP Markets comes out ahead by overall rank (score 4.7/5, position 3) versus OANDA (score 4.3/5, position 29).
Which broker is better for beginners: FP Markets or OANDA?
FP Markets 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) — FP Markets 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 FP Markets and OANDA?
FP Markets: MetaTrader 4, MetaTrader 5, cTrader, TradingView. OANDA: MetaTrader 5, MetaTrader 4, TradingView, fxTrade. See the “Platforms” section for details and selection tips.
What markets can you trade with FP Markets and OANDA?
FP Markets: 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 FP Markets and OANDA?
FP Markets: Standard, Raw. OANDA: Standard, Swap Free. See “Account Types” for a side-by-side comparison.
What deposit and withdrawal methods are supported by FP Markets and OANDA?
FP Markets: Neteller, Skrill, SticPay, FasaPay, Virtual Pay, Perfect Money, Pagsmile, Dragonpay, Swift, Rapid Transfer, Visa, Mastercard, Asia Banks, Rapyd. OANDA: Skrill, Neteller, Swift, Visa, Mastercard. Check method-specific fees/settlement times.
Which broker is safer — FP Markets or OANDA — and how was this assessed?
We consider regulation, corporate transparency, fund protection, and incident history. See the “Reliability” section for our findings.
