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OANDA vs FXCM
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Updated:
Compare OANDA vs FXCM Side by Side
Trying to choose between OANDA vs FXCM, but can’t decide which Broker is better Broker for your trading strategy? We made a detailed comparison between OANDA Review vs FXCM 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 | FXCM |
|---|---|---|
| Website | //www.oanda.com | //www.fxcm.com |
| Founded year | 1996 | 1999 |
| Headquarter | USA | UK |
| Licenses | USA, UK, Australia, Canada, Singapore, Japan | UK, Australia, South Africa |
| Minimum Deposit | 0 US$ | US$50 |
| Trading Platforms | OANDA Trade, MT4, MT5 | MT4, Trading Station, ZuluTrade, TradingView, Ninja Trader, Capitalise AI |
| Eurusd avg Spread | 1.2 pips | 1.3 pips |
Licenses
| Feature | OANDA | FXCM |
|---|---|---|
| Licenses Countries Info (short) |
|
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OANDA vs FXCM Brokers both regulated in the UK and Australia, however, the advantage for reliability and trust is on OANDA side, it is considered more safe broker to trade due to numerous regulations and overseeing by top-tier regulations so legit to accept clients from US.
Broker Types
| Feature | OANDA | FXCM |
|---|---|---|
| Broker types |
|
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Both Brokers operate STP Execution making them equal, adding NDD execution which is even better for price transparency.
Trading Conditions
| Feature | OANDA | FXCM |
|---|---|---|
| Trading Conditions |
|
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OANDA vs FXCM provide quite similar trading conditions both offering tight and low spreads and all strategies allowed suitable for all type of traders beginners, advanced or professional traders.
Fees & Commissions
| Fees & Commissions | OANDA | FXCM |
|---|---|---|
| Inactivity Feemonth | 12 $ | 0 $ |
| 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 | +3% |
| Avg Eurusd standard acc | 1.2 pips | 1.3 pips |
| Gold | 25.3 | 0.76 |
| Brent oil | 4 | 0.04 |
| Bitcoin | 51.7 | 27.13 |
Trading costs for OANDA vs FXCM are very similar, Spread based Standard account offer almost the same spreads. The only difference is that FXCM does not change any fees, while OANDA has a monthly inactivity fee.
Account Types
| Feature | OANDA | FXCM |
|---|---|---|
| Account types |
|
|
While OANDA offers two account types as well as Islamic one. These both accounts are based on spread and are Standard and Premium account with better costs. Also, Islamic Account is meant for traders following Sharia laws with suited conditions and applicable laws available. At the same time, FXCM has only one Standard Account to offer.
Markets & Instruments
| Markets & Instruments | OANDA | FXCM |
|---|---|---|
| Forex | 71 | 40 |
| Indices | 16 | ✔️ |
| Commodities | 31 | 10 |
| Cryptocurrencies | 6 | 7 |
| Shares | ❌ | 64 |
| Bonds | 3 | ❌ |
| Options | ❌ | ❌ |
| Binary options | ❌ | ❌ |
| Spread betting | 70 | 35 |
| Treasuries | ❌ | ❌ |
| Futures | ❌ | ❌ |
| Etfs | ❌ | 15 |
The range of trading instruments offered by OANDA and FXCM is slightly different, as OANDA offers Bonds and Spread betting option (which are not present in FXCM’s offer), while FXCM is focused on Shares and ETFs.
Trading Platforms
| Feature | OANDA | FXCM |
|---|---|---|
| Platforms |
|
|
There is an obvious advantage for FXCM for offering at least 4 different trading platforms to its traders, while OANDA’s offer is limited to MT4 and proprietary platform.
Deposit & Withdrawal Methods
| Feature | OANDA | FXCM |
|---|---|---|
| Payment methods |
|
|
OANDA payment methods are better presented, FXCM supporting only Cards, Bank transfer and Skrill as payment methods. Both brokers provide fast money transfers and charges no additional fees for deposits or withdrawals.
Others
| Feature | OANDA | FXCM |
|---|---|---|
| Others |
|
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A client-oriented approach of both OANDA and FXCM complements their good trading proposals, customer service available through various ways including Web Live Chat, Phone and emails. Both brokers provide great learning materials, both are on a very good level with excellent support, diverse education tools and section with videos and webinars.
Conclusion on FXCM vs OANDA
Concluding OANDA vs FXCM comparison we found both brokers are reliable and trustworthy with years of experience, well-organised and regulated. Trading costs are almost the same, in combination with relatively similar instrument range but with advantage to OANDA for being better regulated, and offering more options accounts-wise. 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
- FXCM – 🥇Best Broker for Autotrading that helps traders to improve their own trading strategies.
