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FXCM vs OANDA
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Updated:
Compare FXCM Vs OANDA Side by Side
Torn between FXCM and OANDA as your preferred broker? Dive into our comprehensive comparison of FXCM Review and OANDA Review where we explore aspects such as safety measures, licensing, trading conditions, associated fees, available platforms, instruments offered, as well as deposit and withdrawal procedures. Get all the critical insights, presented side by side, to make an informed decision.
Summary
| Feature | FXCM | OANDA |
|---|---|---|
| Website | //www.fxcm.com | //www.oanda.com |
| Founded year | 1999 | 1996 |
| Headquarter | UK | USA |
| Licenses | UK, Australia, South Africa | USA, UK, Australia, Canada, Singapore, Japan |
| Minimum Deposit | US$50 | 0 US$ |
| Trading Platforms | MT4, Trading Station, ZuluTrade, TradingView, Ninja Trader, Capitalise AI | OANDA Trade, MT4, MT5 |
| Eurusd avg Spread | 1.3 pips | 1.2 pips |
Licenses
| Feature | FXCM | OANDA |
|---|---|---|
| Licenses Countries Info (short) |
|
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FXCM operates under the stringent oversight of regulatory authorities in the UK, Australia, and several other international jurisdictions, which facilitates their global service offerings. Oanda, on the other hand, is regulated and supervised by several robust authorities such as the CFTC in the US and the FCA in the UK, ensuring enhanced investor protection and rigorous regulatory scrutiny.
Broker Types
| Feature | FXCM | OANDA |
|---|---|---|
| Broker types |
|
|
FXCM operates in a dual capacity, functioning both as a Market Maker and an STP Broker. When acting as an STP Broker, FXCM directly routes traders’ orders to liquidity providers, avoiding the role of a counterparty. This methodology tends to offer faster execution and the possibility of narrower spreads, aligning with the preferences of traders desiring direct market access. Conversely, OANDA predominantly operates as a Market Maker Broker, where it facilitates trading by assuming the opposite position in its clients’ trades.
Trading Conditions
| Feature | FXCM | OANDA |
|---|---|---|
| Trading Conditions |
|
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Oanda stands out by offering competitive spreads and waiving the requirement for a minimum deposit, enhancing accessibility for traders across various experience levels. Conversely, FXCM presents a wide spectrum of markets and instruments, paired with low floating spreads, to cater to a multitude of trading strategies. This flexibility makes FXCM an attractive option for both beginner and experienced traders alike.
Fees & Commissions
| Fees & Commissions | FXCM | OANDA |
|---|---|---|
| Inactivity Feemonth | 0 $ | 12 $ |
| Deposit fee | 0 $ | 0 $ |
| Withdrawal fee | 0 $ | 0 $ |
| Rollover fee eurusd buy 1 lot | -2.5% | -0.9 |
| Rollover fee eurusd sell 1 lot | +3% | 2.75 |
| Avg Eurusd standard acc | 1.3 pips | 1.2 pips |
| Gold | 0.76 | 25.3 |
| Brent oil | 0.04 | 4 |
| Bitcoin | 27.13 | 51.7 |
Oanda predominantly provides commission-free trading, where spreads, subject to market conditions and account types, are the main expense incurred by traders. In comparison, FXCM has spreads that tend to be somewhat above the industry norm, and it also imposes an inactivity fee on traders’ accounts.
Account Types
| Feature | FXCM | OANDA |
|---|---|---|
| Account types |
|
|
FXCM vs OANDA both offer a singular account option, inclusive of Islamic accounts. This facilitates traders who follow Sharia principles to participate in currency trading on their platforms. Moreover, FXCM extends the provision of a Micro account, allowing traders to engage in trading activities with lower capital, making it more accessible and accommodating for various trading preferences and capacities.
Markets & Instruments
| Markets & Instruments | FXCM | OANDA |
|---|---|---|
| Forex | 40 | 71 |
| Indices | ✔️ | 16 |
| Commodities | 10 | 31 |
| Cryptocurrencies | 7 | 6 |
| Shares | 64 | ❌ |
| Bonds | ❌ | 3 |
| Options | ❌ | ❌ |
| Binary options | ❌ | ❌ |
| Spread betting | 35 | 70 |
| Treasuries | ❌ | ❌ |
| Futures | ❌ | ❌ |
| Etfs | 15 | ❌ |
Oanda offers a broad range of trading instruments, including Forex, commodities, indices, spread betting, futures, and bonds, giving traders access to various asset classes. FXCM also provides an extensive selection of trading instruments, covering Forex, indices, commodities, cryptocurrencies, and spread betting, offering a comprehensive choice of markets to trade.
Trading Platforms
| Feature | FXCM | OANDA |
|---|---|---|
| Platforms |
|
|
FXCM is particularly recommended for advanced traders due to its wide variety of platform options, offering a broader selection such as MT4, Zulutrade, NinjaTrader, and a custom platform. These diverse platforms provide traders with extensive tools and functionalities to tailor their trading strategies. On the other hand, OANDA primarily features its own proprietary platform, known for its user-friendliness, along with MT4 and MT5.
Deposit & Withdrawal Methods
| Feature | FXCM | OANDA |
|---|---|---|
| Payment methods |
|
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Similar to OANDA, FXCM provides a variety of funding options such as credit/debit cards and e-wallets. However, OANDA stands out by offering a more extensive selection of e-payment methods. In contrast, FXCM’s e-wallet option is limited to Skrill.
Others
| Feature | FXCM | OANDA |
|---|---|---|
| Others |
|
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Both brokers excel in customer support, offering a range of services including telephone, live chat, and email assistance, ensuring that traders receive timely and helpful responses. FXCM distinguishes itself in educational offerings, regularly hosting educational events globally, with a significant emphasis on bolstering trading knowledge in the African region, indicating its expanding influence there. Additionally, FXCM avails advanced research tools for traders seeking profound market insights, further enhancing its educational support.
On the other hand, Oanda ensures traders have access to a wealth of educational resources. Through webinars, tutorials, and written content, Oanda facilitates a comprehensive learning environment, enabling traders to enhance their market knowledge and trading proficiency.
Conclusion on OANDA vs FXCM
In conclusion of FXCM vs OANDA comparison Review, it’s clear that FXCM primarily appeals to advanced traders, thanks to its sophisticated tools and a variety of platform options. Contrarily, OANDA stands out by offering a wide array of instruments, particularly in the domain of cryptocurrencies, coupled with competitive spreads, positioning it as a robust option for a diverse group of traders. OANDA, with its license to operate in the US market, emerges as the favored choice for traders located in the United States. Here is our final recommendation:
- FXCM — 🥇Best Broker for Advanced Traders with tight spreads and offering a comprehensive set of trading solutions
- OANDA — 🥇Best Broker for US Traders offering exceptional trading conditions with robust tools and fast execution
