Oanda vs FOREX.com Broker Comparison

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Are you trying to figure out which is a better broker, Oanda or FOREX.com? After rigorously testing both brokers and putting each through our accurate and extensive reviewing process, we have concluded that FOREX.com is the better of the two. FOREX.com offers 4,500+ instruments, licenses from FCA, ASIC, CIMA, IIROC, and fair trading fees.

In the tables below, you can compare the features of Oanda and FOREX.com side by side, to work out which suits your trading needs best. You can also carry on reading to find out why our experts ranked FOREX.com higher than Oanda.

Methodology:
This tool uses data collected by our honest Forex experts. All information shown here is correct, regardless of any compensation we receive.
Oanda logoForex.com
OPEN ACCOUNTReviewReview
RATING90/10095.5/100
MIN. DEPOSIT0$100$
REGULATED BYuk australia st-vincent-the-grenadinesuk australia cayman-islands canada
BONUSNo InformationCheck Website
MIN. SPREAD00.8
MAX. LEVERAGE1:2001:400
CURRENCY PAIRS4591
TRADING INSTRUMENTS1264,500+
TRADING PLATFORMSMT4, Mobile, WebTraderMT4, MT5, Mobile
DEPOSIT METHODSBank wire, Visa, Mastercard, Skrill, Neteller and othersBank transfer, Visa, MasterCard, PayPal and more
TYPE OF BROKERSMarket MakerMarket Maker/DMA
CUSTOMER SUPPORT24/724/5
LANGUAGE SUPPORT41
ESTABLISHED19902001
USED BY100,000+ Traders100,000+ Traders

Does Oanda or FOREX.com have lower trading costs and fees?

To compare the costs of trading at different brokers, our experts analyze both trading-specific fees, such as spreads, and non-trading fees, such as inactivity charges and payment costs.

To give an overall view of how cheap or expensive Oanda and FOREX.com are, we first considered the common fees on Standard Accounts. At Oanda the average spread for the EUR/USD currency pair is 0 pips, whilst at FOREX.com the spread is 0.8.

This shows that Oanda is the better option for low-cost forex trading.

When it comes to non-trading fees, Oanda charges for . FOREX.com charges for inactivity, withdrawal. With this in mind, Oanda has lower non-trading fees.

When our experts analyzed the specific costs of both brokers, we found that FOREX.com is the better option.

Trading Fees*

TYPE OF FEEOANDAFOREX.COM
Minimum Spread EURUSD (pips)00.8
Commission (%)0
Commission on Islamic Accounts (%)0

*Based on Standard account type.

Non-Trading Fees

TYPE OF FEEOANDAFOREX.COM
Account FeesNN
Inactivity FeesNY
Deposit FeesNN
Withdrawal FeesNY

Which broker is safer, Oanda or FOREX.com?

In order to decide how safe our top-rated brokers are, our experts look at a number of factors. This includes what licenses the broker holds and how reputable those licenses are. We also consider the history of the broker, as a long-standing broker is often more reliable and trustworthy than a newer one.

Oanda is regulated by FCA, ASIC, FSA(SVG), NFA, IIROC, MAS and does not offer client protection. FOREX.com is regulated by FCA, ASIC, CIMA, IIROC and does not offer client protection.

Considering these two factors, and the general reputation and history of both brokers, we believe that FOREX.com is the safer broker.

Broker summary

OANDAFOREX.COM
Minimum Deposit (USD $)0100
LicensesFCA, ASIC, FSA(SVG), NFA, IIROC, MASFCA, ASIC, CIMA, IIROC
Max. Leverage1:2001:400
Client ProtectionNY
Broker TypeMarket MakerMarket Maker/DMA
Number of Instruments1264,500+
Currency Pairs4591
Stocks4,500
Cryptocurrencies8
CFDsNY
Proprietary Trading PlatformNN
MT 4YY
MT 5NY
Mobile CompatibleYY
Research ToolsNY
Educational MaterialsYY
Payment MethodsBank wire, Visa, Mastercard, Skrill, Neteller and othersBank transfer, Visa, MasterCard, PayPal and more
24/5 Customer SupportYY
Live ChatYY

How many trading instruments are available at Oanda and FOREX.com?

Oanda provides traders with 126 instruments. This includes 45 currency pairs, cryptocurrencies, and stocks and shares. With Oanda, you cannot trade CFDs.

In comparison, FOREX.com boasts 4,500+ tradable instruments. FOREX.com offers 91 currency pairs, 8 cryptocurrencies, and 4,500 stocks and shares. FOREX.com also allows CFD trading.

As both brokers offer the same total number of instruments, both are great choice if you are wishing to diversify your trading portfolio.

Markets and Products

INSTRUMENTOANDAFOREX.COM
Currency Pairs4591
Commodities90+11
Precious Metals07
Indices21
Stocks and Shares4,500
Cryptocurrencies8
Options0
ETFs01

Which broker offers the best trading platform, Oanda or FOREX.com?

When our experts review a broker, they open their own accounts and place trades via the broker’s trading platform. This allows them to fully evaluate the quality of the platform, how easy it is to use and what features it offers.

Oanda provides you with the ability to trade via 3 trading platforms, and FOREX.com has 3 trading platforms, too. Both brokers also offer research and trading tools, however FOREX.com has more.

Overall, our experts agree that FOREX.com boasts the better trading platform offering.

Research Tools

TOOLOANDAFOREX.COM
News (from top-tier sources)YY
Trading Signals and IndicatorsNY
Trade IdeasNY
Expert AnalysisNY
Autochartist ToolsNY
Sentiment ChartsNY
Economic CalendarNY

Which is better for beginners, Oanda or FOREX.com?

To decide how well-suited a broker is for beginner traders, our experts look at what educational materials are available, how accessible the minimum deposit limits are, the range of account types and whether or not you can practice trading with a demo account first.

Considering this, our reviews show that FOREX.com is the better broker for beginner traders as it offers a larger range of educational tools and materials. FOREX.com also has a minimum deposit of $.

Educational Features

FEATUREOANDAFOREX.COM
Demo AccountNY
Platform Tutorial VideosNY
Educational PDFsNY
Live WebinarsNY
YouTube VideosNY
Trading AcademyNY
Trading GlossaryNY

Which broker is better overall?

Overall, our tested reviewing methodology proves that FOREX.com is the better broker in a range of key areas. You can learn more by reading our Oanda and FOREX.com reviews.

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