Written by ForexBrokers.com
In this head to head comparison of OANDA vs FXCM, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
OANDA, established in 1996, and FXCM, founded in 1999, are two online brokers that offer forex trading but differ in several key areas, including their regulatory framework and Trust Score ratings. OANDA holds 7 Tier-1 licenses, demonstrating a strong regulatory position, while FXCM has 4 Tier-1 licenses and an additional 2 Tier-2 licenses. Both brokers are not publicly traded and are not banks, but they maintain a solid presence in the trading world with OANDA earning a Trust Score of 93 and FXCM slightly higher at 95, as rated by ForexBrokers.com.
While OANDA's regulatory standing benefits from a greater number of Tier-1 licenses, FXCM's higher Trust Score indicates slightly more trust from ForexBrokers.com. However, OANDA remains a highly trusted choice with its 93 Trust Score. Investors looking to choose between these two brokers should consider these regulatory credentials and trust levels to better match their trading needs and preferences.
| Feature |
OANDA
|
FXCM
|
|---|---|---|
| Year Founded | 1996 | 1999 |
| Publicly Traded (Listed) | No | Yes |
| Bank | No | No |
| Tier-1 Licenses | 7 | 4 |
| Tier-2 Licenses | 0 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
Both OANDA and FXCM earn 4 out of 5 stars for commissions and fees, but their cost profiles differ. FXCM ranks #25 of 63 in this category, while OANDA ranks #35 of 63. OANDA’s trading costs tend to be on the high side versus the cheapest brokers, whereas FXCM’s pricing is described as slightly above the industry average yet can be competitive on its commission-based plan.
OANDA’s default (commission-free) spreads were about 1.61 pips on EUR/USD in July 2024. Its Core Pricing option lowers the spread but adds a commission of $5 per $100,000 per side ($10 round turn) and requires a $10,000 minimum deposit; in the example provided, that brings EUR/USD to roughly 1.4 pips all-in versus 1.6 pips on the standard plan. OANDA also lets you trade as small as 1 unit, offers Elite Trader rebates of $5–$17 per million in select regions (plus potential TradingView subscription reimbursements), and publishes trailing average spreads for added pricing transparency.
FXCM’s Standard account averaged 0.78 pips on EUR/USD in May 2024 for the EU, U.K., and Australia (1.38 pips at its St. Vincent and the Grenadines entity). Its commission-based accounts averaged 0.28 pips excluding commissions in May 2024, with an effective cost around 0.74–0.78 pips after adding the commission. FXCM’s Active Trader Rebate Program (not available in the U.K. or EU) has five tiers; as an example, in the U.K. a $25,000 balance and $50 million in monthly volume can drop the commission to $2.50 per side ($5 round turn), yielding an effective EUR/USD cost near 0.78 pips based on a 0.28-pip core price. Spreads can widen during rollover or volatile markets. Based on these figures, FXCM’s commission-based pricing undercuts OANDA’s default and even OANDA’s Core example, while OANDA stands out for tiny trade sizes and automated execution across its accounts.
| Feature |
OANDA
|
FXCM
|
|---|---|---|
| Minimum Deposit | $0 | Starts from $50 |
| Average Spread EUR/USD - Standard | 1.69 | 0.9 |
| All-in Cost EUR/USD - Active | 1.69 | 0.8 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
OANDA vs FXCM: both brokers let you trade forex as CFDs or in the spot market, but OANDA offers a much wider range overall. OANDA lists 4,172 tradeable symbols and 69 forex pairs, while FXCM provides 440 symbols and 46 pairs. For Range of Investments, OANDA is rated 4 stars and ranked #28 of 63 by ForexBrokers.com; FXCM earns 3.5 stars and ranks #48 of 63.
Asset access also differs. OANDA offers exchange-traded securities on U.S. and international exchanges (so you can buy shares like Apple and Vodafone), while FXCM does not offer exchange-traded stocks. Both support copy trading. In crypto, OANDA lets you buy actual coins as well as crypto derivatives, whereas FXCM offers only crypto derivatives.
| Feature |
OANDA
|
FXCM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 440 |
| Forex Pairs (Total) | 69 | 46 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
OANDA and FXCM both offer versatile trading platforms and tools, accommodating various user preferences with features such as simulated trading accounts and proprietary platforms. Both brokers provide Windows-based desktop and web-based trading platforms, as well as the popular MetaTrader 4 (MT4). However, OANDA takes a step further by also supporting MetaTrader 5 (MT5), a more advanced iteration of the software, while FXCM does not. When it comes to copy trading, both brokers offer options, with ZuluTrade only available through FXCM. Neither broker supports DupliTrade, which may influence traders focused on social trading networks.
Charting capabilities vary significantly between these two brokers. OANDA provides an impressive 74 drawing tools for charting, enabling detailed market analysis, whereas FXCM offers 10. Both brokers allow trading directly from stock charts, though their watch list flexibility differs; FXCM offers up to 13 columns, while OANDA supports 6. In rankings by ForexBrokers.com, FXCM is positioned higher, holding 6th place with a full 5-star rating for its trading platforms and tools, showing its functionality and user satisfaction. OANDA, while respected with a 4-star rating, ranks 15th, highlighting a gap in user experiences and platform features.
| Feature |
OANDA
|
FXCM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 89 | 115 |
| Charting - Drawing Tools (Total) [DELETED] | 74 | 10 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 13 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of OANDA and FXCM, both brokers offer applications for iPhone and Android users. Each app provides essential features like stock and forex price alerts and the ability to draw trendlines, which can be handy for traders who need to perform quick analyses on the go. Users can also view chart trends across different time frames. Both apps auto-save any chart drawings, providing a seamless experience as traders switch between time frames and analyses. When setting up a watchlist, both apps allow for real-time quotes, giving users quick access to live market information.
However, there are notable differences. While FXCM offers syncability for watchlist symbols with its online account, allowing changes made in the app to reflect elsewhere, OANDA lacks this feature. Chart enthusiasts may favor FXCM, which offers nearly double the technical studies at 59, compared to OANDA's 30. Despite these differences, OANDA boasts a slightly higher rating of 5 stars for its mobile app against FXCM's 4.5 stars. This higher rating is reflected in OANDA's #7 ranking by ForexBrokers.com in their Mobile Trading Apps category, whereas FXCM follows at #16, suggesting a marginal preference among users for OANDA's mobile trading experience.
| Feature |
OANDA
|
FXCM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 59 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Comparing OANDA vs FXCM for market research, both brokers check key boxes: daily market commentary, forex news from top-tier sources such as Bloomberg, Reuters, or Dow Jones, a sentiment tool showing long/short ratios, and a global economic calendar. Neither offers tools from Acuity Trading.
The differences come down to third-party research add-ons and accolades. OANDA includes tools from Autochartist, while FXCM integrates Trading Central and TipRanks (OANDA does not). Based on these offerings and overall execution, ForexBrokers.com rates OANDA at 5 stars and ranks it #4 out of 63 for Research, while FXCM earns 4.5 stars and ranks #11. Choose OANDA if you want Autochartist included; pick FXCM if Trading Central and TipRanks matter more to you.
| Feature |
OANDA
|
FXCM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | Yes |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
OANDA and FXCM both deliver well-rounded forex and CFD education for beginners. Each broker offers well over 10 learning pieces across articles, videos, and archived webinars. You get ongoing client webinars at least once a month and a searchable archive of past sessions. Beginners can watch at least 10 introductory videos that explain trading basics, while experienced traders will find at least 10 advanced videos. Both brands also publish an investor dictionary with 50+ definitions to help new traders grasp key terms.
For quality scores, OANDA earns 5 stars for Education and FXCM earns 4.5 stars. In ForexBrokers.com’s Education category, OANDA is ranked #19 out of 63 brokers and FXCM is ranked #14. In short, both platforms give beginners a full learning path—videos, webinars, and glossaries included. If a higher star rating is your tie-breaker, OANDA edges ahead; if list placement matters more, FXCM sits higher in the rankings.
| Feature |
OANDA
|
FXCM
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that OANDA is better than FXCM. OANDA finished with an overall rank of #12, while FXCM finished with an overall rank of #15.
A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.
| Feature |
OANDA
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FXCM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 95 |
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OANDA distinguishes itself from FXCM by providing the ability to purchase actual cryptocurrency alongside cryptocurrency derivatives, whereas FXCM only offers the option to buy cryptocurrency derivatives.
Both OANDA and FXCM provide a wide range of options for depositing or withdrawing account funds, including ACH or SEPA transfers, PayPal, Skrill, Visa or Mastercard, and bank wires, making them versatile choices for online brokerage services.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | OANDA | FXCM | |
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| Trust Score | 93 | 95 | |
| Winner | check_circle | ||
| Review | OANDA Review | FXCM Review |
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| Regulation | OANDA | FXCM | |
|---|---|---|---|
| Trust Score | 93 | 95 | |
| Year Founded | 1996 | 1999 | |
| Publicly Traded (Listed) | No | Yes | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 4 | |
| Tier-2 Licenses | 0 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | OANDA | FXCM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | OANDA | FXCM | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | Yes | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | OANDA | FXCM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4172 | 440 | |
| Forex Pairs (Total) | 69 | 46 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | OANDA | FXCM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.69 | 0.9 | |
| All-in Cost EUR/USD - Active | 1.69 | 0.8 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | FXCM | |
|---|---|---|---|
| Minimum Deposit | $0 | Starts from $50 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | OANDA | FXCM | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | OANDA | FXCM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 13 | |
| Charting - Indicators / Studies (Total) | 89 | 115 | |
| Charting - Drawing Tools (Total) [DELETED] | 74 | 10 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | FXCM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 59 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | OANDA | FXCM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | Yes | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | FXCM | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | OANDA | FXCM | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | OANDA Review | FXCM Review |
| Overall | OANDA | FXCM | |
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| Trust Score | 93 | 95 | |
| Winner | check_circle | ||
| Review | OANDA Review | FXCM Review |
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