FXOpen 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 - FXOpen 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 FXOpen.
OANDA scored 4.3/5 and ranks 29 in our all Forex brokers list, whereas FXOpen has 4.3/5 and ranks 30.
This is not financial advice. See the full comparison below.
Who is FXOpen suitable for?
Broker FXOpen is suitable for professional traders and scalping enthusiasts but may not be ideal for beginners due to the lack of training.
Who is OANDA suitable for?
Oanda is suitable for beginners and experienced traders, thanks to quality analytics and various educational materials.
Comparison Table of FXOpen and OANDA
| Broker | FXOpen | OANDA |
|---|---|---|
| Rating | 4.3/5 | 4.3/5 |
| Foundation Year | 2004 | 2001 |
| Regulated in Countries | United Kingdom, Cyprus, Australia | 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 | FXOpen Review | OANDA Review |
FXOpen Review
FXOpen is a highly regulated broker with licenses from leading international bodies, which guarantees the safety of investments and compliance with strict standards. The broker offers a wide range of trading instruments, allowing traders to diversify their portfolios. Low spreads and commissions make FXOpen an attractive choice for those looking for a cost-effective trading environment. The availability of various platforms gives traders the flexibility to choose a trading instrument.
FXOpen is ideal for experienced traders who can analyze the market independently and make informed trading decisions without significant educational support. The broker is especially attractive to those who seek variety in trading tools and prefer to use advanced trading platforms.
Pros and Cons of FXOpen
Pros
- Wide range of trading assets.
- Low spreads and commissions.
- Support for various trading platforms.
Cons
- Lack of educational materials.
FXOpen 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 | FXOpen | OANDA |
|---|---|---|
| Reliability | 5/5 | 5/5 |
| Foundation Year | 2004 | 2001 |
| Regulated in Countries | United Kingdom, Cyprus, Australia | United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland |
| Regulators |
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FXOpen
FxOpen is a reliable and regulated broker, licensed in many countries, ensuring the safety of funds and a high standard of services.
OANDA
Oanda demonstrates a high level of reliability, evidenced by licenses from the world's leading regulators.
Account Opening
| Broker | FXOpen | OANDA |
|---|---|---|
| Account Opening | 5/5 | 4.5/5 |
| Minimum Deposit |
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FXOpen
FxOpen provides a simple and convenient account opening process, with an emphasis on security and compliance with regulatory requirements.
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 | FXOpen | OANDA |
|---|---|---|
| Account Types | 5/5 | 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 |
FXOpen
FxOpen offers a wide selection of trading accounts and additional services.
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 | FXOpen | OANDA |
|---|---|---|
| Commissions | 3/5 | 3.5/5 |
| Spread | from 0 points | from 0.5 points |
| Average Spread (EURUSD) | 1.2 | 0.8 |
| Commission per Lot | $3.5 |
FXOpen
FxOpen's commissions are average in the market, with competitive spreads, but high swap rates and inactivity fees.
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 | FXOpen | OANDA |
|---|---|---|
| Rating | 4.2/5 | 4/5 |
| Account Funding Methods |
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FXOpen
FxOpen offers a variety of deposit and withdrawal methods.
Pros
- A large selection of payment systems and cryptocurrencies.
- Fast processing of withdrawal requests.
Cons
- No bank transfer option.
- High commissions for credit cards from the provider.
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 | FXOpen | OANDA |
|---|---|---|
| Markets and Products | 4.6/5 | 4.4/5 |
| Forex | 66 | 48 |
| Precious Metals | 3 | 3 |
| Energy Carriers | 3 | 3 |
| Indices | 12 | 18 |
| Stocks | 553 | 1607 |
| ETF | 56 | - |
| Cryptocurrency | 41 | 18 |
| Soft Commodities | - | 4 |
FXOpen
FxOpen offers a good selection of assets but without soft commodities.
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 | FXOpen | OANDA |
|---|---|---|
| Rating | 5/5 | 5/5 |
| Trading Platforms |
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|
FXOpen
FXOpen offers a wide range of trading platforms, catering to different types of traders.
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 | FXOpen | OANDA |
|---|---|---|
| Rating | 4/5 | 5/5 |
FXOpen
FXOpen provides a solid package of analytical tools, offering traders valuable resources for making trading decisions.
OANDA
The Oanda broker's analytical section offers many tools that help traders make informed decisions.
Education
| Broker | FXOpen | OANDA |
|---|---|---|
| Rating | 2/5 | 4.5/5 |
FXOpen
FXOpen invests little in trader education, offering only basic articles and a glossary of terms.
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 | FXOpen | OANDA |
|---|---|---|
| Rating | 4.5/5 | 5/5 |
| Email Support |
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| Hotline Phones |
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| Social Media |
YouTube
Facebook
Twitter
Telegram
LinkedIn
Whatsapp
InstagramFXOpen
FXOpen offers reliable support, and a variety of communication channels adds flexibility.
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 FXOpen and OANDA with other brokers
Conclusion
OANDA stands out as the better overall pick, while FXOpen trails on aggregate criteria.
OANDA scored 4.3/5 and ranks 29 in our rating; FXOpen has 4.3/5 and ranks 30.
We explain the reasons above in detail — fees, platforms, reliability, support, and more.
FAQ
Which broker is better: FXOpen or OANDA?
OANDA comes out ahead by overall rank (score 4.3/5, position 29) versus FXOpen (score 4.3/5, position 30).
Which broker is better for beginners: FXOpen 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) — FXOpen 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 FXOpen and OANDA?
FXOpen: MetaTrader 4, MetaTrader 5, TickTrader, TradingView. OANDA: MetaTrader 5, MetaTrader 4, TradingView, fxTrade. See the “Platforms” section for details and selection tips.
What markets can you trade with FXOpen and OANDA?
FXOpen: Forex, Precious Metals, Energy Carriers, Indices, Stocks, ETF, 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 FXOpen and OANDA?
FXOpen: STP, ECN, Micro, Crypto. OANDA: Standard, Swap Free. See “Account Types” for a side-by-side comparison.
What deposit and withdrawal methods are supported by FXOpen and OANDA?
FXOpen: WebMoney, Volet, FasaPay, Visa, Mastercard, JCB, Discover. OANDA: Skrill, Neteller, Swift, Visa, Mastercard. Check method-specific fees/settlement times.
Which broker is safer — FXOpen or OANDA — and how was this assessed?
We consider regulation, corporate transparency, fund protection, and incident history. See the “Reliability” section for our findings.
