Oanda vs FPMarkets Broker Comparison
Are you trying to figure out which is a better broker, Oanda or FPMarkets? After rigorously testing both brokers and putting each through our accurate and extensive reviewing process, we have concluded that FPMarkets is the better of the two. FPMarkets offers 10,000+ instruments, licenses from CySec, ASIC, and fair trading fees.
In the tables below, you can compare the features of Oanda and FPMarkets 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 FPMarkets higher than Oanda.
Does Oanda or FPMarkets 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 FPMarkets 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 FPMarkets the spread is 1.1.
This shows that Oanda is the better option for low-cost forex trading.
When it comes to non-trading fees, Oanda charges for . FPMarkets charges for deposit, withdrawal. With this in mind, Oanda has lower non-trading fees.
When our experts analyzed the specific costs of both brokers, we found that FPMarkets is the better option.
*Based on Standard account type.
Which broker is safer, Oanda or FPMarkets?
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. FPMarkets is regulated by CySec, ASIC and does not offer client protection.
Considering these two factors, and the general reputation and history of both brokers, we believe that FPMarkets is the safer broker.
How many trading instruments are available at Oanda and FPMarkets?
Oanda provides traders with 126 instruments. This includes 45 currency pairs, cryptocurrencies, and stocks and shares. With Oanda, you cannot trade CFDs.
In comparison, FPMarkets boasts 10,000+ tradable instruments. FPMarkets offers 61 currency pairs, 5 cryptocurrencies, and 10,000 stocks and shares. FPMarkets also allows CFD trading.
As FPMarkets has 10,000+ and Oanda has 126, a difference of 116, this shows that FPMarkets offers more opportunities to diversify your trading portfolio.
Which broker offers the best trading platform, Oanda or FPMarkets?
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 FPMarkets has 4 trading platforms. Both brokers also offer research and trading tools, however FPMarkets has more.
Overall, our experts agree that FPMarkets boasts the better trading platform offering.
Which is better for beginners, Oanda or FPMarkets?
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 FPMarkets is the better broker for beginner traders as it offers a larger range of educational tools and materials. FPMarkets also has a minimum deposit of $.