Comparison of FOREX.com and OANDA
| Feature | FOREX.com | OANDA |
|---|---|---|
| Broker | ||
| Year Founded | 2001 | 2001 |
| Broker Type | MM, DMA | STP |
| Dealing | B-book, A-book | A-book |
| Execution | Market | Market |
| Regulation | CIMA, FCA, CIRO, CySEC, SFC, JFSA, ASIC, MAS, CFTC, NFA | NFA, CFTC, ASIC, CIRO, FCA, JFSA, BVIFSC, MAS, KNF |
| Platforms | FOREX.com, Ninja Trader, MetaTrader 4 (MT4), TradingView | MetaTrader 4 (MT4), MetaTrader 5 (MT5), TradingView, fxTrade |
| Spread | ⮕ Average | ⬊ Low |
| Maximum Leverage | 1:50 | 1:200 |
| Minimum Deposit | $100 | $1 |
| Base Currencies | USD, EUR, GBP | USD, EUR, AUD, CHF, SGD, HKD |
| Funding Methods | Bank Wire, Credit Card, Debit Card, Skrill, Neteller | Bank Wire, Credit Card, Debit Card, Neteller, Skrill |
| Inactivity Fee | $15 per month after 12 months | $10 per month after 12 months |
| Interest on Margin | ✔ | ✖ |
| Withdrawal Fee | ✖ | ✖ |
| Investor Protection | UK Financial Services Compensation Scheme (FSCS), Investor Compensation Fund (ICF), Financialcommission.org | UK Financial Services Compensation Scheme (FSCS) |
| Protection Size | £85 000 / €20 000 | £85 000 |
| Segregated Accounts | ✔ | ✔ |
| Negative Balance Protection | ✔ | ✔ |
| Guaranteed Stop Loss | ✔ | ✔ |
| Copy Trading | ✖ | ✖ |
| VPS | ✖ | ✔ |
| MAM/PAMM | ✖ | ✖ |
| Scalping Allowed | ✔ | ✔ |
| EAs/Robots | ✔ | ✔ |
| Depth of Market (DOM) | ✔ | ✔ |
| Tradable Assets (CFDs) | Currencies, Indices, Stocks, ETFs, Bonds, Metals, Energies, Soft Commodities, Cryptocurrencies | Currencies, Indices, Stocks, Cryptocurrencies, Metals, Energies, Soft Commodities |
| Review | FOREX.com Review | OANDA Review |
About FOREX.com
FOREX.com is one of the most recognized and trusted forex brokers globally, catering to traders of all levels since its establishment in 2001. Regulated by top-tier financial authorities, including the FCA (UK), CFTC (US), and ASIC (Australia), the broker provides a secure and transparent trading environment. With a wide range of forex pairs, indices, commodities, and cryptocurrencies, FOREX.com offers extensive opportunities for diversification. The broker's advanced trading platforms, including its proprietary platform and MetaTrader 4 (MT4), are equipped with robust charting tools, technical indicators, and risk management features. One of FOREX.com's standout features is its educational content, which includes webinars, trading guides, and market analysis, making it an excellent choice for beginner traders. The broker also offers competitive spreads, fast execution, and flexible account types to suit various trading strategies. However, the absence of support for MetaTrader 5 (MT5) and the relatively high minimum deposit for some accounts might deter certain traders. Despite these minor drawbacks, FOREX.com remains a solid choice for those looking for reliability, regulation, and a wealth of trading resources.
Pros
- Regulated by multiple top-tier authorities (FCA, CFTC, ASIC, etc.)
- Wide range of tradable instruments, including forex, commodities, and crypto
- Advanced proprietary trading platform and support for MetaTrader 4 (MT4)
- Comprehensive educational resources for traders of all levels
- Competitive spreads and fast trade execution
Cons
- No support for MetaTrader 5 (MT5)
- Inactivity fees for dormant accounts
- Limited leverage options for retail traders in certain regions
- Customer support may not be 24/7 in all locations
About OANDA
OANDA is a globally recognized forex broker with a solid reputation for providing robust trading platforms and tools tailored to both beginner and professional traders. Established in 2001, OANDA has consistently positioned itself as a trusted broker, offering a wide range of trading instruments, including forex, indices, commodities, and cryptocurrencies. The broker is known for its user-friendly interface, competitive spreads, and advanced analytical tools, making it a popular choice among traders seeking reliable market access. OANDA is regulated by top-tier authorities like the CFTC, FCA, and ASIC, ensuring a high level of trust and transparency in its operations.
Pros
- Regulated by top-tier authorities (CFTC, FCA, ASIC)
- Competitive spreads and reliable pricing
- Access to both MetaTrader 4 (MT4) and a proprietary platform
- User-friendly trading interface suitable for beginners
- Comprehensive educational resources and market analysis tools
- A wide range of trading instruments, including forex, indices, commodities, and cryptocurrencies
- No minimum deposit requirement for most accounts
- Strong focus on transparency and customer support
Cons
- Limited account types compared to some competitors
- Some advanced tools may require additional subscriptions
FOREX.com & OANDA Regulation
| Feature | FOREX.com | OANDA |
|---|---|---|
Companies | GAIN Global Markets Inc, StoneX Financial Ltd, GAIN Capital - FOREX.com Canada Ltd, StoneX Europe Ltd, GAIN Capital Group LLC, StoneX Financial (HK) Limited, StoneX Securities Co, StoneX Financial PTE Ltd, StoneX Financial Pty Ltd | OANDA Corporation, OANDA Australia Pty Ltd, OANDA (Canada) Corporation ULC, OANDA Europe Limited, OANDA Japan Co., Ltd, OANDA Global Markets Ltd, OANDA Asia Pacific Pte Ltd, OANDA TMS Brokers S.A. |
Countries | Cayman Islands, United Kingdom, Canada, Cyprus, United States, Hong Kong, Japan, Singapore, Australia | United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland |
Regulators | CIMA, FCA, CIRO, CySEC, SFC, JFSA, ASIC, MAS, CFTC, NFA | NFA, CFTC, ASIC, CIRO, FCA, JFSA, BVIFSC, MAS, KNF |
Investor Protection | UK Financial Services Compensation Scheme (FSCS), Investor Compensation Fund (ICF), Financialcommission.org | UK Financial Services Compensation Scheme (FSCS) |
Investor Protection Size | £85 000 / €20 000 | £85 000 |
Publicly Traded | ||
Segregated Accounts | ||
Guaranteed Stop Loss | ||
Negative Balance Protection |
Account Types
| Account | FOREX.com | OANDA |
|---|---|---|
Market Maker Account | ||
| Account Name | Standard | — |
| Min Deposit | $100 | — |
| Lot Size | 0.01 | — |
| Spread Type | Floating | — |
| Execution | Market | — |
| Min Spread | 0.7 | — |
| Fee | No | — |
| Max Leverage | 1:50 | — |
| Stop Out | 100% | — |
| Margin Call | 120% | — |
STP Account | ||
| Account Name | — | Standard |
| Min Deposit | — | $1 |
| Lot Size | — | 0.01 |
| Spread Type | — | Floating |
| Execution | — | Market |
| Min Spread | — | 0.5 |
| Fee | — | No |
| Max Leverage | — | 1:200 |
| Stop Out | — | 50% |
| Margin Call | — | 100% |
DMA Account | ||
| Account Name | DMA | — |
| Min Deposit | $100 | — |
| Lot Size | 0.01 | — |
| Spread Type | Floating | — |
| Execution | Market | — |
| Min Spread | 0.1 | — |
| Fee | $12 per 1 lot | — |
| Max Leverage | 1:50 | — |
| Stop Out | 100% | — |
| Margin Call | 120% | — |
| Additional Features | ||
| Demo Account | ||
| VIP Account | ||
| Swap-Free Account | ||
| Copy Trading | ||
| VPS | ||
| PAMM/MAM Accounts | ||
Funding and Fees
| Feature | FOREX.com | OANDA |
|---|---|---|
Base currencies | USD, EUR, GBP | USD, EUR, AUD, CHF, SGD, HKD |
Deposit and withdrawal methods | Bank Wire, Credit Card, Debit Card, Skrill, Neteller | Bank Wire, Credit Card, Debit Card, Neteller, Skrill |
Inactivity fee | $15 per month after 12 months | $10 per month after 12 months |
Interest on margin | ||
Withdrawal fee |
Trading Platforms and Conditions
| Feature | FOREX.com | OANDA |
|---|---|---|
Trading Platforms | FOREX.com, Ninja Trader, MetaTrader 4 (MT4), TradingView | MetaTrader 4 (MT4), MetaTrader 5 (MT5), TradingView, fxTrade |
Execution Speed | 0 ms | 12 ms |
Scalping | ||
Expert Advisors (EAs) | ||
Depth of Market (DOM) | ||
Spread | average | low |
Trading Assets
| Asset | FOREX.com | OANDA |
|---|---|---|
Currencies | 91 | 48 |
Indices | 54 | 18 |
Stocks | 5500 | 1607 |
Cryptocurrencies | 12 | 18 |
Bonds | 14 | 0 |
Metals | 16 | 3 |
Energies | 14 | 3 |
Soft Commodities | 22 | 4 |
ETFs | 318 | 0 |
Education and Analytics
| Feature | FOREX.com | OANDA |
|---|---|---|
Economic Calendar | ||
Indicators | ||
Robots | ||
Signals | ||
Autochartist | ||
Expert Analytics | ||
News Feed | ||
Education Articles | ||
Webinars | ||
Seminars |
Customer Support
| Contact | FOREX.com | OANDA |
|---|---|---|
Email | global.support@forex.com | frontdesk@oanda.com |
Phone | — | +442031512050 |
Facebook | ||
LinkedIn | — | |
YouTube | YouTube | YouTube |
Instagram | — | |
Twitter |
Which Broker is Better?
After comparing FOREX.com and OANDA, OANDA comes out ahead as our overall pick. It ranks higher in our internal scoring and delivers a stronger balance of pricing (spreads/fees), platform experience, and product range. That said, the runner-up may still be a better fit if you prioritize specific needs—like a particular account type, funding method, or niche instruments. This is not financial advice; always choose a broker that matches your goals and local regulatory requirements.
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Andriy Bondarenko
Broker Analyst
Andriy is a seasoned expert in broker reviews with over a decade of experience in finance and trading. Under his leadership, the team produces in-depth and unbiased analyses of leading trading platforms.