OANDA vs Forex.com
Compare OANDA vs Forex.com Side by Side
Selecting between OANDA vs Forex.com and would like to see who is better Broker for your trading strategy? We made a detailed comparison between OANDA Review and Forex.com Review, compared safety and licenses, trading conditions with fees, trading platforms, instruments, deposit & withdrawal conditions, and all the essential details compared side by side.
Summary
| Feature | OANDA | Forex.com |
|---|---|---|
| Website | //www.oanda.com | //www.forex.com |
| Founded year | 1996 | 1999 |
| Headquarter | USA | USA |
| Licenses | USA, UK, Australia, Canada, Singapore, Japan | USA, UK, Australia, Japan, Singapore, Canada, Cayman Islands, Cyprus |
| Minimum Deposit | 0 US$ | US$ 100 |
| Trading Platforms | OANDA Trade, MT4, MT5 | MT4, MT5, FOREX.com Platforms |
| Eurusd avg Spread | 1.2 pips | 1.3 pips |
Licenses
| Feature | OANDA | Forex.com |
|---|---|---|
| Licenses Countries Info (short) |
|
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OANDA vs Forex.com Brokers both based and regulated in the US and holding additional top-tier licenses, providing good transparency and customer protection with low-risk trading environment and are legit to accept EU and US clients.
Broker Types
| Feature | OANDA | Forex.com |
|---|---|---|
| Broker types |
|
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Both Brokers operate STP Execution making them equal, NDD execution is better for price transparency, also Forex.com has DMA separate account which is a plus.
Trading Conditions
| Feature | OANDA | Forex.com |
|---|---|---|
| Trading Conditions |
|
|
Trading conditions are similar with a slight advantage to Forex.com there is no restriction on strategies and both proposals suitable for beginning or advanced traders. Forex.com has an advantage with Zero spread commission-based account making them suitable for professional traders and larger account offering overall.
Fees & Commissions
| Fees & Commissions | OANDA | Forex.com |
|---|---|---|
| Inactivity Feemonth | 12 $ | 15$ |
| Deposit fee | 0 $ | 0$ |
| Withdrawal fee | 0 $ | 0$ |
| Rollover fee eurusd buy 1 lot | -0.9 | -2.5% |
| Rollover fee eurusd sell 1 lot | 2.75 | 2.5% |
| Avg Eurusd standard acc | 1.2 pips | 1.3 pips |
| Gold | 25.3 | 0.4 |
| Brent oil | 4 | 5 |
| Bitcoin | 51.7 | 35 |
Trading costs for OANDA and Forex.com are very similar, Spread based Standard account offer almost the same spreads, the main difference are Forex.com better conditions for Cryptocurrency trading.
Account Types
| Feature | OANDA | Forex.com |
|---|---|---|
| Account types |
|
|
OANDA offers two account types and OANDA has two accounts. Forex.com has accounts based on spread or commission charges which is better for traders to have different pricing models, and OANDA both accounts are based on spread and are Standard and Premium account with better costs. Both Borkers provide free access to Demo Account.
Markets & Instruments
| Markets & Instruments | OANDA | Forex.com |
|---|---|---|
| Forex | 71 | 84 |
| Indices | 16 | 17 |
| Commodities | 31 | 29 |
| Cryptocurrencies | 6 | 4 |
| Shares | ❌ | 4000+ |
| Bonds | 3 | ✔️ |
| Options | ❌ | ❌ |
| Binary options | ❌ | ❌ |
| Spread betting | 70 | ✔️ |
| Treasuries | ❌ | ❌ |
| Futures | ❌ | ❌ |
| Etfs | ❌ | ❌ |
Forex.com has a big advantage in its market and instrument proposal. Forex.com provides access to over 4,500+ markets and OANDA mainly focuses on Currency pairs, Shares, Futures etc. Both brokers provide Spread Betting via its UK entity.
Trading Platforms
| Feature | OANDA | Forex.com |
|---|---|---|
| Platforms |
|
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Both Brokers offering good choice of platform including proprietary Trading Platform and popular MT4, also Forex.com has more platform to choose from and including newer version MetaTrader5 with good research and analysis tools.OANDA proprietary is highly ranked and is good for beginning or advanced traders, alike Forex.com platform which is packed with tools.
Deposit & Withdrawal Methods
| Feature | OANDA | Forex.com |
|---|---|---|
| Payment methods |
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OANDA payment methods are better presented, Forex.com supporting only Cards and Bank transfer as payment methods. Both brokers provide fast money transfers and charges no additional fees for deposits or withdrawals.
Others
| Feature | OANDA | Forex.com |
|---|---|---|
| Others |
|
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OANDA and Forex.com provide great learning material, both are on a very good level with excellent support, diverse education tools and section with videos, Webinars and support.
Conclusion on Forex.com vs OANDA
Concluding OANDA vs Forex.com comparison we found both brokers are trustable, provide good standing, internationally presented and well-regulated and are available for US Trading. Both proposals are similar, alike costs, education and good support, both developed great proprietary platforms suitable for all size trader. However, some advantage goes to Forex.com for the number of instruments, available platforms, and different account types with a spread or commission basis. Here is our final recommendation:
- OANDA – 🥇 Best Broker for Currency trading and Commodity Trading, is a choice for beginning traders and regular size traders internationally
- Forex.com – 🥇 Best for Professional trading good for experienced traders looking for excellent platform selection and reliable broker
