FXCM vs Oanda Comparison
We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support.
Comparison Table of FXCM and Oanda
| Broker | FXCM | Oanda |
|---|---|---|
| Rating | 4.3/5 | 4.3/5 |
| Foundation Year | 1999 | 2001 |
| Regulated in Countries | United Kingdom, Australia, Cyprus, South Africa, Canada, Israel, Saint Vincent and the Grenadines | 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 | 1:1000 | 1:200 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | FXCM Review | Oanda Review |
FXCM is suitable for traders of all levels. Beginners will find educational materials and helpful analytics, while experienced traders will appreciate various instruments and flexible platforms.
Oanda is suitable for beginners and experienced traders, thanks to quality analytics and various educational materials.
FXCM Review
FXCM represents a comprehensive solution that will benefit traders of all levels — from beginners to professionals. Beginners will appreciate the accessible educational materials and analytics, while experienced traders can use various instruments and flexible platform settings.
However, it's essential to consider drawbacks such as fees for account inactivity and the limited variety of trading accounts. These factors may be particularly significant for traders who do not plan to trade actively or are looking for more options for customization.
The broker offers a good balance between high-quality services and reasonable rates, making it an attractive choice for a broad spectrum of traders.
Pros and Cons of FXCM
Pros
- Diverse methods for deposit and withdrawal.
- Wide range of markets and products for trading.
- A broad spectrum of trading platforms.
- Extensive and quality materials for making informed decisions.
- Quick and efficient help in solving emerging issues.
Cons
- Insufficient variety of trading accounts.
- Inactivity fees and commissions for bank transfer withdrawals.
- Protracted account opening and verification process.
FXCM 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 | FXCM | Oanda |
|---|---|---|
| Reliability | 5/5 | 5/5 |
| Foundation Year | 1999 | 2001 |
| Regulated in Countries | United Kingdom, Australia, Cyprus, South Africa, Canada, Israel, Saint Vincent and the Grenadines | United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland |
| Regulators | FCA FCA ASIC ASIC CySEC CySEC FSCA FSCA CIRO CIRO ISA ISA SVGFSA SVGFSA | NFA NFA CFTC CFTC ASIC ASIC CIRO CIRO FCA FCA JFSA JFSA BVIFSC BVIFSC MAS MAS KNF KNF |
FXCM
FXCM is a well-regulated broker with numerous licenses from various global organizations.
Oanda
Oanda demonstrates a high level of reliability, evidenced by licenses from the world's leading regulators.
Account Opening
| Broker | FXCM | Oanda |
|---|---|---|
| Account Opening | 4/5 | 4.5/5 |
| Minimum Deposit |
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FXCM
The account opening process at FXCM is logically organized and efficient, providing clear steps for traders. The structured system and quick verification make this process convenient and straightforward.
Pros
- Clear and structured registration form.
Cons
- Verification waiting time can take up to 3 days.
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 | FXCM | Oanda |
|---|---|---|
| Account Types | 4/5 | 3/5 |
| Trading Accounts |
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| Minimum Deposit |
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| Spread | from 0 points | from 0.5 points |
| Max Leverage | 1:1000 | 1:200 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Demo Account | ||
| Swap-free Account |
FXCM
FXCM offers two types of accounts: Mini for beginners and Standard for experienced traders. Although the choice is not vast, both accounts are well adapted for their target audiences.
Pros
- Mini account available - akin to a cent account.
- Option for copy trading through ZuluTrade.
- Demo and Islamic accounts available.
Cons
- Limited selection of account types.
- No account with fixed spreads.
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 | FXCM | Oanda |
|---|---|---|
| Commissions | 3.2/5 | 3.5/5 |
| Spread | from 0 points | from 0.5 points |
| Average Spread (EURUSD) | 1.2 | 0.8 |
| Commission per Lot |
FXCM
Commissions at FXCM are average. The broker offers favorable conditions for long-term trading thanks to competitive spreads and swaps. However, there is an inactivity fee and a fee for fund withdrawal.
Pros
- Competitive spreads and swaps.
- Rebate program for active traders.
Cons
- Inactivity fee.
- Fee for withdrawals via bank transfer.
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 | FXCM | Oanda |
|---|---|---|
| Rating | 4.5/5 | 4/5 |
| Account Funding Methods |
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FXCM
FXCM offers a wide range of methods for depositing and withdrawing funds, including cryptocurrencies.
Pros
- Variety of deposit methods.
- Fast processing of withdrawal requests.
- No broker commissions for depositing.
Cons
- Commission for withdrawals via bank transfer.
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 | FXCM | Oanda |
|---|---|---|
| Markets and Products | 4.5/5 | 4.4/5 |
| Forex | 41 | 48 |
| Precious Metals | 3 | 3 |
| Energy Carriers | 7 | 3 |
| Soft Commodities | 4 | 4 |
| Indices | 15 | 18 |
| Stocks | 3512 | 1607 |
| ETF | 280 | - |
| Cryptocurrency | 23 | 18 |
FXCM
FXCM provides a wide range of trading instruments, making it attractive for various categories of traders. Different markets, from Forex to stocks and cryptocurrencies, are available.
Pros
- Good selection of markets and instruments.
Cons
- Some competitors have even more CFDs.
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 | FXCM | Oanda |
|---|---|---|
| Rating | 5/5 | 5/5 |
| Trading Platforms |
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FXCM
FXCM offers a wide choice of trading platforms with high functionality, meeting the needs of different traders.
Pros
- Wide choice of platforms for different trading styles.
- Advanced analytical tools in Trading Station.
- Support for algorithmic and social trading through Capitalise AI and ZuluTrade.
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 | FXCM | Oanda |
|---|---|---|
| Rating | 5/5 | 5/5 |
FXCM
FXCM offers comprehensive analytical tools, from trading signals to expert research. These resources not only simplify trading decisions but also help to improve strategy.
Pros
- Wide range of analytical tools.
- Professional signals and market analysis.
- Personalized trading applications.
Cons
- Some tools may require a subscription or active account.
- Lack of analytics localization in different languages.
Oanda
The Oanda broker's analytical section offers many tools that help traders make informed decisions.
Education
| Broker | FXCM | Oanda |
|---|---|---|
| Rating | 4/5 | 4.5/5 |
FXCM
The broker offers quality webinars and helpful guides that make the learning process informative and interactive.
Pros
- Webinars with experts for direct interaction.
- Detailed Forex guides.
- Materials suitable for traders of all levels.
Cons
- Lack of video courses.
- No podcasts for audio learning.
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 | FXCM | Oanda |
|---|---|---|
| Rating | 5/5 | 5/5 |
| Email Support |
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| Hotline Phones |
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| Social Media |
Whatsapp
YouTube
Twitter
Facebook
LinkedIn
InstagramFXCM
FXCM's technical support is highly rated for its variety of communication channels and quick response. Customer reviews confirm the professionalism and efficiency of the staff.
Pros
- Multiple channels of communication, including WhatsApp and live chat.
- Available 24/5.
- High degree of customer satisfaction.
Cons
- There may be telephone charges for international calls.
Oanda
Oanda's technical support provides extensive communication options and round-the-clock service, ensuring the professionalism and efficiency of the solutions provided.
