Written by ForexBrokers.com
In this head to head comparison of OANDA vs FXPrimus, 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.
Founded in 1996, OANDA is an online broker known for its high level of trust and security in the trading community. Holding seven Tier-1 licenses, OANDA is widely recognized for its strong regulatory standing, earning it a Trust Score of 93 out of 99 on ForexBrokers.com. This positions it as a highly trusted choice for traders seeking a reliable platform, despite not being publicly traded or a bank.
FXPrimus, established in 2009, offers traders a different proposition. With one Tier-1 license, this broker is rated with a Trust Score of 71 out of 99 by ForexBrokers.com, suggesting an average risk level according to their rating scale. Similar to OANDA, FXPrimus is neither publicly traded nor a bank, making it important for potential users to consider the regulatory aspects when choosing between these two platforms.
| Feature |
OANDA
|
FXPrimus
|
|---|---|---|
| Year Founded | 1996 | 2009 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the online brokers OANDA and FXPrimus in terms of commissions and fees, both firms have their unique strengths. OANDA, although not considered a discount broker, offers automated execution with slightly high costs. Its average non-core pricing spread on the EUR/USD pair, for instance, was reported as 1.61 pips. OANDA provides a core pricing structure where lower spreads come with a commission of $5 per $100,000 traded. This option reduces the overall cost to 1.4 pips on the EUR/USD pair, considering a commission equivalent of 1 pip.
OANDA's trading flexibility is notable, allowing trading in micro lots and smaller units, making it accessible for various trade sizes. Additionally, active traders can benefit from its Elite Trader program, which offers tiered rebates and subscription reimbursements for platforms like TradingView. OANDA is committed to transparency by publishing trailing averages of its spreads, although it lacks a fixed period comparison, making precise evaluations a bit challenging. Both OANDA and FXPrimus earn a respectable 4-star rating for commissions and fees.
While specific average spread data for FXPrimus isn't readily available, its ranking is slightly lower than OANDA's at 42 out of 62 brokers in the Commissions and Fees category on ForexBrokers.com, compared to OANDA's ranking of 34. Although both brokers provide substantial services, potential traders might prefer OANDA for its detailed pricing transparency and trading flexibility, particularly for those interested in automated execution and rebate programs.
| Feature |
OANDA
|
FXPrimus
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.61 | N/A |
| All-in Cost EUR/USD - Active | 1.61 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing OANDA and FXPrimus in terms of their available range of investments, several differences emerge. OANDA offers a broad array of options with 3,928 tradeable symbols, significantly outnumbering the 140 offered by FXPrimus. In the realm of forex pairs, OANDA provides 68 pairs compared to FXPrimus's 42. Both brokers support forex trading as CFDs or spot contracts and offer copy trading options. However, when it comes to cryptocurrency, OANDA gives traders the flexibility to buy actual cryptocurrency in addition to derivatives, whereas FXPrimus only provides access to cryptocurrency derivatives. Both brokers do not offer exchange-traded securities on U.S. or international exchanges, meaning investments like Apple or Vodafone shares are not available directly.
OANDA's expansive range has earned it a rating of 4 out of 5 stars, ranking at #27 out of 62 brokers on ForexBrokers.com for range of investments. FXPrimus, while commendable, lags slightly with a 3.5-star rating and a ranking of #59 in the same category. For traders looking for a wider array of investment options, OANDA might appear more appealing, particularly due to its extensive list of tradeable symbols and comprehensive cryptocurrency offerings.
| Feature |
OANDA
|
FXPrimus
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3928 | 140 |
| Forex Pairs (Total) | 68 | 42 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | 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.
When comparing OANDA and FXPrimus for their trading platforms and tools, both brokers provide comprehensive options for traders. Both offer simulated trading with free virtual demo accounts, and each has a proprietary platform developed in-house. They support Windows-based desktop downloads, as well as browser-based platforms, making it convenient for traders to access their accounts from multiple devices. The platforms of both brokers are compatible with the popular MetaTrader 4 and MetaTrader 5, and they both support copy trading features, enhancing traders' ability to learn and adopt successful strategies. While neither broker offers DupliTrade or ZuluTrade services, they both enable trading directly from stock charts.
Looking at the charting tools, OANDA leads with 431 drawing tools compared to FXPrimus's 15, which may appeal to traders who rely heavily on technical analysis. On the other hand, FXPrimus offers one more field for watch lists than OANDA, providing traders with slightly more customization space in this area. Despite these differences, both brokers are rated four stars for their trading platforms and tools according to user reviews. However, OANDA stands out in rankings by ForexBrokers.com, placing 16th out of 62, while FXPrimus is ranked 49th, indicating a potentially stronger market reputation for OANDA's platform offerings.
| Feature |
OANDA
|
FXPrimus
|
|---|---|---|
| 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 | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 81 | 30 |
| Charting - Drawing Tools (Total) | 431 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
OANDA and FXPrimus both offer mobile trading apps for iOS and Android users, making it convenient for traders to engage in forex activities on the go. Both apps provide useful features such as stock or forex price alerts, the ability to create watchlists with real-time quotes, and the option to draw trendlines on charts. Users of both platforms can also view multiple time frames for their trades and enjoy the convenience of auto-saving chart drawings. Each app includes 30 technical studies to support informed trading decisions. Despite these similarities, neither app supports watchlist symbol syncing with their respective online accounts, which might be a consideration for those who rely heavily on seamless integration between platforms.
In terms of performance and user satisfaction, OANDA's mobile trading app stands out with a 5-star rating, placing it at #7 out of 62 brokers according to ForexBrokers.com. In contrast, FXPrimus is rated 4 stars and is ranked #47 in the same category. These ratings suggest that while both apps are equipped with valuable features, OANDA's platform may offer a slightly superior user experience, potentially due to finer nuances like interface usability or additional resources that improve overall app performance. Whether you prioritize higher rankings or specific technical features like app compatibility, both apps furnish the essential tools needed for effective mobile trading.
| Feature |
OANDA
|
FXPrimus
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 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 evaluating OANDA and FXPrimus for market research capabilities, OANDA emerges as a strong contender. Both brokers provide daily market commentary and access to an economic calendar highlighting global news events. However, OANDA distinguishes itself by offering forex news from top sources like Bloomberg and Reuters, which FXPrimus lacks. Additionally, OANDA provides valuable tools like Autochartist for technical and fundamental research, and a sentiment-based trading tool that FXPrimus does not offer. Neither broker offers tools from Trading Central or Acuity Trading, nor do they provide market research from TipRanks.
Based on these services, OANDA achieves a research rating of 5 stars, compared to FXPrimus's 3 stars. In terms of ranking, OANDA is positioned at #5 out of 62 brokers by ForexBrokers.com for its research offerings, whereas FXPrimus is placed at #58. This data indicates that OANDA offers a more comprehensive suite of market research tools and resources for traders looking to make informed decisions.
| Feature |
OANDA
|
FXPrimus
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| 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, OANDA and FXPrimus both provide a solid foundation. Each offers at least 10 educational pieces like articles, videos, and archived webinars focused on forex or CFDs. Additionally, both brokers hold monthly webinars that are available to clients online. They ensure these webinars are accessible later through searchable archives, which is beneficial for users who prefer learning at their own pace.
However, OANDA takes the lead in beginner resources with over 10 educational videos specifically designed for those just starting out in trading, whereas FXPrimus does not reach this mark. OANDA also caters to experienced traders with advanced video content, which FXPrimus lacks. Moreover, OANDA provides an extensive investor dictionary with more than 50 investing terms, while FXPrimus does not offer such a resource. This emphasis on comprehensive education earns OANDA a 5-star rating for education, higher than the 3-star rating for FXPrimus. In the educational rankings by ForexBrokers.com, OANDA stands at #22 out of 62 brokers, whereas FXPrimus is further down the list at #51.
| Feature |
OANDA
|
FXPrimus
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that OANDA is better than FXPrimus. OANDA finished with an overall rank of #12, while FXPrimus finished with an overall rank of #53.
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
|
FXPrimus
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 71 |
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OANDA provides both the opportunity to purchase actual cryptocurrency and trade cryptocurrency derivatives, while FXPrimus solely offers the option to trade cryptocurrency derivatives and not the actual cryptocurrencies.
When comparing the online brokers OANDA and FXPrimus, OANDA provides more diverse funding options, including ACH and SEPA transfers, and PayPal, in addition to common methods like Skrill, Visa or Mastercard, and bank wires, while FXPrimus supports Skrill, Visa or Mastercard, and bank wires, but lacks ACH, SEPA, and PayPal options.
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 | FXPrimus | |
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| Trust Score | 93 | 71 | |
| Winner | check_circle | ||
| Review | OANDA Review |
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| Regulation | OANDA | FXPrimus | |
|---|---|---|---|
| Trust Score | 93 | 71 | |
| Year Founded | 1996 | 2009 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | OANDA | FXPrimus | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| 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 | FXPrimus | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | OANDA | FXPrimus | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3928 | 140 | |
| Forex Pairs (Total) | 68 | 42 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | 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 | FXPrimus | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.61 | N/A | |
| All-in Cost EUR/USD - Active | 1.61 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | FXPrimus | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | OANDA | FXPrimus | |
|---|---|---|---|
| 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 | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | OANDA | FXPrimus | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 81 | 30 | |
| Charting - Drawing Tools (Total) | 431 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | FXPrimus | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 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 | OANDA | FXPrimus | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | FXPrimus | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | OANDA | FXPrimus | |
|---|---|---|---|
| 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 |
| Overall | OANDA | FXPrimus | |
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| Trust Score | 93 | 71 | |
| Winner | check_circle | ||
| Review | OANDA Review |
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