Written by ForexBrokers.com
In this head to head comparison of FOREX.com vs OANDA, 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.
When considering online brokers, both FOREX.com and OANDA stand out for their trustworthiness and longevity. Founded in 1999 and publicly traded, FOREX.com offers a wide range of trading options and has established itself as a reputable platform. Meanwhile, OANDA, established in 1996, maintains a private structure. Neither of these brokers are banks, but both are well-regulated and reliable for traders. FOREX.com holds an impressive seven Tier-1 licenses and one Tier-2 license, securing a perfect Trust Score of 99 out of 99 according to ForexBrokers.com.
On the other hand, OANDA, like FOREX.com, holds seven Tier-1 licenses but none at the Tier-2 level. With a Trust Score of 93 out of 99, OANDA is also considered highly trusted, though slightly behind FOREX.com in ForexBrokers.com’s ratings. The comparison indicates both brokers are excellent choices for trading, each regulated and reputable, with FOREX.com having a slight edge due to its public trading status and higher trust score.
| Feature |
FOREX.com
|
OANDA
|
|---|---|---|
| Year Founded | 1999 | 1996 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 7 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing FOREX.com and OANDA, both prominent online brokers, it's important to consider their commissions and fees. FOREX.com offers several account types and execution methods, making it an attractive choice for traders who value flexibility. However, its costs are slightly higher than the industry average. In the U.S., the Standard account comes with an average spread of 1.4 pips on the EUR/USD. For those opting for the RAW account, available in multiple regions, the spreads can drop to as low as 0.13 pips, but this comes with a commission fee, particularly noteworthy for high-volume active traders seeking volume-based rebates. For commissions and fees, FOREX.com is rated 4.5 stars and ranks #13 out of 62 brokers by ForexBrokers.com.
OANDA, while not a low-cost leader in forex trading, offers the advantage of automated execution, particularly valuable for hands-off traders. Compared to FOREX.com, OANDA's default pricing setup has wider spreads, averaging 1.61 pips on the EUR/USD. The company's core pricing does offer lower spreads but applies a $5 per $100,000 currency commission. For those with a minimum $10,000 deposit, the all-in costs marginally improve with core pricing. Unique to OANDA is its ability to trade in increments as small as 1 unit, offering flexibility for those who prefer smaller contract sizes. OANDA earns a 4-star rating and holds the #34 spot in ForexBrokers.com's commissions and fees ranking.
Both brokers have additional programs and features to appeal to various trading styles. FOREX.com has introduced a RAW account that could lower costs for traders with high monthly volumes, with tiered rebates from $2 to $9 per million. OANDA's Elite Trader program offers select traders rebates from $5 to $17 per million along with other perks like TradingView subscription reimbursements. While FOREX.com might be more appealing for those outside the U.S., seeking both transparency and competitive pricing, OANDA provides unique offerings like low trade size requirements, which can be attractive for beginners or those trading on a smaller scale.
| Feature |
FOREX.com
|
OANDA
|
|---|---|---|
| Minimum Deposit | $100 | $0 |
| Average Spread EUR/USD - Standard | 1.4 | 1.61 |
| All-in Cost EUR/USD - Active | 0.9 | 1.61 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to the range of investments offered by online brokers, FOREX.com stands out with its broad selection. It provides access to 5,500 tradeable symbols, including 91 forex pairs, available for trading either as CFDs or spot contracts. Though it lacks exchange-traded securities on both U.S. and international exchanges, FOREX.com still earns a strong reputation with a five-star rating for its range of investments. Ranked #7 out of 62 brokers in this category, it also allows trading in cryptocurrency derivatives, contributing to its wide-reaching market presence.
In comparison, OANDA offers 3,928 tradeable symbols, including 68 forex pairs, and like FOREX.com, these are available for trading as CFDs or spot contracts. While OANDA does not provide direct access to exchange-traded securities on U.S. or international exchanges, it uniquely offers copy trading and the ability to purchase actual cryptocurrency—additional features that might attract certain investors. Despite its lower number of tradeable symbols, OANDA maintains a solid four-star rating for its range of investments and ranks #27 among 62 brokers in this space.
| Feature |
FOREX.com
|
OANDA
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5500 | 3928 |
| Forex Pairs (Total) | 91 | 68 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | No | Yes |
| 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.
When it comes to trading platforms and tools, both FOREX.com and OANDA offer a strong set of features, but there are some differences worth noting. Both brokers provide free virtual demo accounts, proprietary platforms, and offer both Windows-based desktop and web-based trading platforms. They also support popular trading platforms MetaTrader 4 and MetaTrader 5, allowing traders to access familiar trading environments. However, while both brokers enable trading directly from stock charts, OANDA stands out by also offering copy trading, a feature not available with FOREX.com. On the other hand, FOREX.com offers more comprehensive watch lists with 20 columns compared to OANDA’s 6, potentially providing traders with a more detailed snapshot of the market.
In terms of charting capabilities, OANDA offers a greater number of drawing tools with 431 options, compared to FOREX.com's 239. Despite these differences, FOREX.com edges out OANDA in quality, receiving a perfect five-star rating for their trading platforms and tools, compared to OANDA's four-star rating. This distinction is further supported by the brokers' rankings by ForexBrokers.com, where FOREX.com holds the 7th spot among 62 brokers, while OANDA ranks 16th. These rankings suggest that while both brokers are quite capable, FOREX.com might offer a slightly more favorable experience for traders seeking a top-tier trading platform.
| Feature |
FOREX.com
|
OANDA
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 88 | 81 |
| Charting - Drawing Tools (Total) | 239 | 431 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 20 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FOREX.com and OANDA offer comprehensive mobile trading apps available for iPhone and Android users, allowing traders to stay connected on the go. Both platforms provide essential features like stock or forex price alerts and the ability to draw trendlines and view multiple time frames on charts. However, in terms of technical studies available within their charting tools, FOREX.com stands out with 88 studies compared to OANDA's 30, offering more in-depth analysis options for users.
Another key difference is that FOREX.com supports watchlist symbol syncing between the mobile app and a client's online account, ensuring seamless updates across devices, while OANDA does not offer this feature. Both platforms enable users to create watchlists with real-time quotes and automatically save chart drawings, maintaining trading efficiency. Rated five stars for their mobile trading apps, FOREX.com ranks #3 out of 62 brokers by ForexBrokers.com, while OANDA comes in at #7, which suggests a slightly higher overall user satisfaction with FOREX.com in this area.
| Feature |
FOREX.com
|
OANDA
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 88 | 30 |
| 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.
When it comes to market research, both FOREX.com and OANDA provide valuable resources for traders. Each broker offers daily market commentary and access to forex news from renowned sources like Bloomberg and Reuters, ensuring users stay informed about the latest market movements. Additionally, they both provide sentiment-based trading tools that offer insight into the ratio of long and short positions across various currency pairs. For users who heavily rely on economic calendars, both platforms deliver comprehensive listings of current and upcoming global economic events.
There are notable differences in the research tools each platform offers. While FOREX.com provides Trading Central tools, helping traders with technical analytics, OANDA stands out by offering tools from Autochartist, supporting technical and fundamental research. Despite these differences, OANDA receives a slightly higher overall research rating of 5 stars compared to the 4.5 stars awarded to FOREX.com. In a broader comparison by ForexBrokers.com, OANDA ranks 5th out of 62 brokers for research capabilities, surpassing FOREX.com, which holds the 9th position.
| Feature |
FOREX.com
|
OANDA
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both FOREX.com and OANDA provide an impressive selection of learning materials for those new to forex and CFD trading. Each platform offers more than 10 educational pieces, including articles, videos, and archived webinars that cover core trading topics. Both brokers conduct monthly webinars to further support their clients, and they keep a searchable archive of past webinars. Additionally, they both offer over 10 beginner-focused videos that break down fundamental trading concepts. More advanced traders are not left out either, as both platforms have over 10 in-depth videos tailored for experienced traders.
For traders looking to understand the jargon of the market, both brokers have a comprehensive investor dictionary with definitions for 50 or more investing terms. Despite these similarities, the platforms differ in terms of educational ratings and rankings. OANDA boasts a perfect 5-star rating for its educational services, while FOREX.com has a slightly lower rating of 4.5 stars. However, FOREX.com holds a higher rank at number 4 in the Education category among 62 brokers on ForexBrokers.com, compared to OANDA's rank at number 22. This comparison highlights that while both platforms are immensely resourceful, they each offer unique points of excellence.
| Feature |
FOREX.com
|
OANDA
|
|---|---|---|
| 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 62 of the best forex brokers, our research and account testing finds that FOREX.com is better than OANDA. FOREX.com finished with an overall rank of #5, while OANDA finished with an overall rank of #12.
FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms – alongside limited access to MetaTrader.
| Feature |
FOREX.com
|
OANDA
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 93 |
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While both FOREX.com and OANDA offer the ability to trade cryptocurrency derivatives, only OANDA provides the option to buy actual delivered cryptocurrency, whereas FOREX.com does not.
Both FOREX.com and OANDA provide versatile options for depositing and withdrawing account funds, including ACH or SEPA transfers, PayPal, Visa, Mastercard, and bank wires; however, only OANDA offers the option to use Skrill.
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 | FOREX.com | OANDA | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | OANDA Review |
| Broker Screenshots | FOREX.com | OANDA | |
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| Regulation | FOREX.com | OANDA | |
|---|---|---|---|
| Trust Score | 99 | 93 | |
| Year Founded | 1999 | 1996 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 7 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | FOREX.com | OANDA | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | Yes | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | Yes | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FOREX.com | OANDA | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FOREX.com | OANDA | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5500 | 3928 | |
| Forex Pairs (Total) | 91 | 68 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | No | Yes | |
| 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 | FOREX.com | OANDA | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | 1.61 | |
| All-in Cost EUR/USD - Active | 0.9 | 1.61 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FOREX.com | OANDA | |
|---|---|---|---|
| Minimum Deposit | $100 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | FOREX.com | OANDA | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FOREX.com | OANDA | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 20 | 6 | |
| Charting - Indicators / Studies (Total) | 88 | 81 | |
| Charting - Drawing Tools (Total) | 239 | 431 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FOREX.com | OANDA | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 88 | 30 | |
| 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 | FOREX.com | OANDA | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FOREX.com | OANDA | |
|---|---|---|---|
| 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 | FOREX.com | OANDA | |
|---|---|---|---|
| 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 | FOREX.com Review | OANDA Review |
| Overall | FOREX.com | OANDA | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | OANDA Review |
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