Comparison of FXCM and OANDA
| Feature | FXCM | OANDA |
|---|---|---|
| Broker | ||
| Year Founded | 1999 | 2001 |
| Broker Type | STP, DMA | STP |
| Dealing | A-book | A-book |
| Execution | Market | Market |
| Regulation | FCA, ASIC, CySEC, FSCA, CIRO, ISA, SVGFSA | NFA, CFTC, ASIC, CIRO, FCA, JFSA, BVIFSC, MAS, KNF |
| Platforms | MetaTrader 4 (MT4), Trading Station, TradingView | MetaTrader 4 (MT4), MetaTrader 5 (MT5), TradingView, fxTrade |
| Spread | ⮕ Average | ⬊ Low |
| Maximum Leverage | 1:1000 | 1:200 |
| Minimum Deposit | $50 | $1 |
| Base Currencies | USD, EUR, GBP | USD, EUR, AUD, CHF, SGD, HKD |
| Funding Methods | Bank Wire, Credit Card, Debit Card, Neteller, Skrill, PayPal | Bank Wire, Credit Card, Debit Card, Neteller, Skrill |
| Inactivity Fee | $50 per year 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) | 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, Cryptocurrencies, Metals, Energies, Soft Commodities | Currencies, Indices, Stocks, Cryptocurrencies, Metals, Energies, Soft Commodities |
| Review | FXCM Review | OANDA Review |
About FXCM
FXCM (Forex Capital Markets) is a well-established forex broker that has been serving traders since 1999. Known for its commitment to innovation, FXCM provides a range of advanced trading platforms, including its proprietary Trading Station and third-party options like MetaTrader 4 (MT4) and NinjaTrader. The broker offers access to various trading instruments, including forex, indices, commodities, and cryptocurrencies, making it a versatile choice for traders of all experience levels. FXCM operates under the regulation of trusted authorities, such as the FCA, ASIC, and FSCA, ensuring a safe and transparent trading environment.
Pros
- Regulated by reputable authorities (FCA, ASIC, FSCA)
- Access to multiple trading platforms, including Trading Station, MT4, and TradingView
- No-dealing-desk execution for transparency and direct market access
- Comprehensive educational resources and market analysis tools
- Competitive spreads and flexible leverage options
- Wide range of trading instruments, including forex, indices, commodities, and cryptocurrencies
- Strong focus on platform innovation and advanced tools
Cons
- Higher trading fees on some instruments compared to competitors
- Limited account types for specialized trading needs
- No support for MetaTrader 5 (MT5)
- Customer support may vary depending on the region
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
FXCM & OANDA Regulation
| Feature | FXCM | OANDA |
|---|---|---|
Companies | Stratos Markets Limited, Stratos Trading Pty. Limited, Stratos Europe Ltd (ex FXCM EU LTD), Stratos South Africa (Pty) Ltd, Friedberg Mercantile Group Ltd., Stratos Light Limited, Stratos Global LLC | 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 | 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, ASIC, CySEC, FSCA, CIRO, ISA, SVGFSA | NFA, CFTC, ASIC, CIRO, FCA, JFSA, BVIFSC, MAS, KNF |
Investor Protection | UK Financial Services Compensation Scheme (FSCS), Investor Compensation Fund (ICF) | 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 | FXCM | OANDA |
|---|---|---|
STP Account | ||
| Account Name | Standard | Standard |
| Min Deposit | $50 | $1 |
| Lot Size | 0.01 | 0.01 |
| Spread Type | Floating | Floating |
| Execution | Market | Market |
| Min Spread | 1.2 | 0.5 |
| Fee | No | No |
| Max Leverage | 1:1000 | 1:200 |
| Stop Out | 100% | 50% |
| Margin Call | 100% | 100% |
| Additional Features | ||
| Demo Account | ||
| VIP Account | ||
| Swap-Free Account | ||
| Copy Trading | ||
| VPS | ||
| PAMM/MAM Accounts | ||
Funding and Fees
| Feature | FXCM | OANDA |
|---|---|---|
Base currencies | USD, EUR, GBP | USD, EUR, AUD, CHF, SGD, HKD |
Deposit and withdrawal methods | Bank Wire, Credit Card, Debit Card, Neteller, Skrill, PayPal | Bank Wire, Credit Card, Debit Card, Neteller, Skrill |
Inactivity fee | $50 per year after 12 months | $10 per month after 12 months |
Interest on margin | ||
Withdrawal fee |
Trading Platforms and Conditions
| Feature | FXCM | OANDA |
|---|---|---|
Trading Platforms | MetaTrader 4 (MT4), Trading Station, TradingView | MetaTrader 4 (MT4), MetaTrader 5 (MT5), TradingView, fxTrade |
Execution Speed | 28 ms | 12 ms |
Scalping | ||
Expert Advisors (EAs) | ||
Depth of Market (DOM) | ||
Spread | average | low |
Trading Assets
| Asset | FXCM | OANDA |
|---|---|---|
Currencies | 41 | 48 |
Indices | 15 | 18 |
Stocks | 3512 | 1607 |
Cryptocurrencies | 23 | 18 |
Bonds | 0 | 0 |
Metals | 3 | 3 |
Energies | 7 | 3 |
Soft Commodities | 4 | 4 |
ETFs | 280 | 0 |
Education and Analytics
| Feature | FXCM | OANDA |
|---|---|---|
Economic Calendar | ||
Indicators | ||
Robots | ||
Signals | ||
Autochartist | ||
Expert Analytics | ||
News Feed | ||
Education Articles | ||
Webinars | ||
Seminars |
Customer Support
| Contact | FXCM | OANDA |
|---|---|---|
Email | info@fxcmmarkets.com | frontdesk@oanda.com |
Phone | +16462531401 | +442031512050 |
Facebook | ||
LinkedIn | — | |
YouTube | YouTube | YouTube |
Instagram | — | |
Twitter |
Which Broker is Better?
After comparing FXCM 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.