Forex.com vs Oanda Comparison

Want the quick verdict without digging through all the details? We’ve got you covered. While both Forex.com and OANDA deliver exceptional trading services, Forex.com stands out with its broader global reach, making it accessible to a wider audience. Thanks to its advanced trading platform and high-quality charting tools, we recommend Forex.com for traders looking for a well-rounded and inclusive experience.

Forex.com, owned by GAIN Capital Holdings — a publicly listed company on the New York Stock Exchange (ticker symbol: GCAP) — has been serving traders since 2001. Regulated across multiple jurisdictions, it has built a solid reputation as a global leader in online Forex trading.

OANDA, founded in 1997, is one of the industry’s pioneers. Headquartered in the U.S. and regulated by several international authorities, OANDA remains a preferred choice for traders in North America. However, its services are more geographically limited compared to Forex.com.

When it comes to retail trading performance, 72.0% of Forex.com clients experience losses, compared to 73.5% at OANDA — a marginal difference, but still noteworthy.

Features and Platforms

Forex.com As of April 2019, and based on active servers per broker, Forex.com claims to be the largest MT4 broker. It provides an upgraded trading experience with third-party plugins from Reuters for live news, Autochartist Trade Ideas for automated pattern recognition, and technical analysis from Trading Central. The proprietary Advanced Trading Platform offers a genuine alternative to the MT4, equipped with over 100 predefined indicators. Both platforms support automated trading solutions, and a webtrader completes an excellent choice of trading platforms. Oanda Oanda maintains its proprietary trading platform, featuring its in-house Market Pulse research portal, Dow Jones FX Select, 4CAST, TradingView, and Autochartist. A comprehensive charting package offers manual traders the required tools to conduct proper market analytics. Traders using automated solutions will manage portfolios from the retail favorite MT4 trading platform. Several APIs support third-party developers, though Oanda also offers its own, including Oanda MT4 Open Order.

Available Markets

Traders at Forex.com have over 330 assets to choose from, spread across Forex, equity, and index CFDs, commodities, and cryptocurrencies. Over 80 currency pairs offer pure Forex traders prominent exposure. Comparatively, Oanda features over 70 currency pairs and an acceptable selection of commodity CFDs. Index CFDs allow an introduction to equity markets, but individual assets are unavailable. Bond CFDs provide an additional means of cross-asset diversification. The overall choice at both brokers is suitable for most retail traders.

Spreads and Fees

When it comes to spreads, Forex.com offers a minimum of 0.8 pips on the EUR/USD, with an average spread around 1.1 pips. In contrast, OANDA provides a slightly more competitive pricing environment, with EUR/USD spreads starting as low as 0.6 pips. For active and high-frequency traders, however, Forex.com may offer a better overall cost structure, especially through its tailored programs for high-volume clients. Swap rates on overnight leveraged positions apply at both brokers, and corporate actions—such as dividends and mergers—impact equity and index CFDs, with adjustments passed on to traders accordingly. When it comes to inactivity fees, Forex.com charges £12 per month, while OANDA charges a slightly lower $10 per month. Both platforms may apply third-party deposit and withdrawal fees, but OANDA stands out by offering one free withdrawal per month to a credit or debit card. Overall, while Forex.com may appeal more to high-volume traders due to its structured pricing benefits, retail traders are likely to find a more competitive cost structure at OANDA, especially for smaller accounts and casual trading activity.

Security and Trust

Forex.com is primarily regulated by the Financial Conduct Authority (FCA) in the UK. Client funds are fully segregated and enjoy the protection of the Financial Services Compensation Scheme (FSCS) up to £85,000. The global regulatory framework additionally includes Canada’s IIROC, Japan’s FSA, Australia’s ASIC, the US CFTC and NFA, and the Cayman Island’s CIMA. Oanda’s principal regulator is the US Commodity Futures Trading Commission (CFTC) and NFA. Completing regulatory oversight are the FCA in the UK, the IIROC in Canada, the MAS in Singapore, the ASIC in Australia, and the FSA in Japan. 

Forex.com vs Oanda Verdict

Retail Forex traders will find a high-quality trading environment at both Forex.com and OANDA. Each broker is well-regulated, trustworthy, and offers a robust suite of trading platforms — including their proprietary platforms and MT4, both of which support automated trading strategies. When it comes to trader education, both brokers provide valuable learning resources aimed at enhancing trader knowledge. Regular in-house research helps generate fresh trading ideas, while partnerships with leading third-party research and analytics providers further enrich the trading experience. While both brokers offer strong foundations for retail traders, Forex.com stands out for its greater international presence and broader market reach. In comparison, OANDA’s footprint remains largely limited to the US and Canada, with minimal expansion into global markets. In summary, both brokers deliver on key fronts — platform versatility, educational support, and research quality — but Forex.com has a notable edge in global accessibility and brand recognition.