In this head to head comparison of FOREX.com vs OANDA, 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.
Regulation
FOREX.com vs OANDA: FOREX.com was founded in 1999 and is publicly traded, while OANDA was founded in 1996 and is not publicly traded. Neither company is a bank, and both serve traders as online forex brokers.
Regulation and trust: Both brokers hold seven Tier-1 licenses (the highest level). FOREX.com also holds one Tier-2 license; OANDA holds none. On the ForexBrokers.com 99-point Trust Score, FOREX.com scores 99 and OANDA scores 92. On this scale, 90–99 is highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and below 59 should not be trusted at all.
| Feature | Visit Site | |
|---|---|---|
| Year Founded info | 1999 | 1996 |
| Publicly Traded (Listed) info | Yes | No |
| Bank info | No | No |
| Tier-1 Licenses info | 7 | 7 |
| Tier-2 Licenses info | 1 | 0 |
| Tier-3 Licenses info | 1 | 0 |
| Tier-4 Licenses info | 1 | 1 |
Fees
Comparing commissions and fees, both FOREX.com and OANDA lean pricier than the cheapest brokers, but each offers a lower-spread, commission-based option for active traders. For the Commissions and Fees category, FOREX.com is rated 4.5/5 stars and ranks #15 out of 63 brokers, while OANDA is rated 4/5 stars and ranks #30 out of 63. If you mainly trade EUR/USD, the headline numbers show FOREX.com’s U.S. Standard account spread around 1.4 pips (July 2023) versus OANDA’s average default spread of 1.61 pips (July 2024), though your actual costs depend on account type, volume, and location.
FOREX.com offers a Standard account and a RAW Spread account. In the U.S., the Standard account averages about 1.4 pips on EUR/USD, while traders outside the U.S. have seen lower time‑weighted averages (about 0.74 pips in July 2023). The RAW Spread account posts typical EUR/USD spreads near 0.13 pips (Feb 2024) plus a commission of $7 per standard lot ($3.50 per side), which is roughly equivalent to 0.7 pips, with volume rebates of $2–$9 per million. For most U.S. clients trading under $50 million per month, the all‑in cost of the commission plan tends to land close to the Standard account, making the choice more about execution method and platform access than headline spread alone.
OANDA’s default (commission‑free) spreads are generally high, averaging about 1.61 pips on EUR/USD (July 2024). Its Core Pricing plan lowers the spread but adds a commission of $5 per side per $100,000 traded (about $10 per round turn per standard lot) and requires a $10,000 minimum deposit; in a typical scenario, Core can bring the all‑in cost to roughly 1.4 pips on EUR/USD. OANDA also supports tiny trade sizes (down to 1 unit) and offers Elite Trader rebates of $5–$17 per million in select regions. It publishes trailing spread data for transparency, though not fixed‑period averages, which can make apples‑to‑apples comparisons tougher.
| Feature | Visit Site | |
|---|---|---|
| Minimum Deposit info | $100 | $0 |
| Average spread (EUR/USD) – Standard account info | 1.00 info | 1.68 info |
| All-in Cost EUR/USD – Active info | 1.13 info | 1.69 info |
| Non-wire bank transfer info | Yes | Yes info |
| PayPal (Deposit/Withdraw) info | Yes | Yes |
| Skrill (Deposit/Withdraw) info | Yes | Yes |
| Bank Wire (Deposit/Withdraw) info | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Range of investments
Comparing FOREX.com vs OANDA for range of investments, both brokers let you trade forex as CFDs and spot contracts, and both offer exchange-traded securities (not CFDs) on U.S. and international exchanges. FOREX.com lists more total markets, with 5,500 tradeable symbols and 80 forex pairs, while OANDA offers 4,172 symbols and 69 pairs. For extras, OANDA supports copy trading and lets you buy actual cryptocurrency, while FOREX.com does not; both brokers also provide cryptocurrency CFDs.
On balance, FOREX.com earns 5 stars for Range of Investments and ranks #6 out of 63 brokers, while OANDA scores 4.5 stars and ranks #20. Choose FOREX.com if you want the widest selection of markets and currency pairs; pick OANDA if copy trading or buying real crypto matters to you.
| Feature | Visit Site | |
|---|---|---|
| Forex Trading (Spot or CFDs) info | Yes | Yes info |
| Tradeable Symbols (Total) info | 5500 info | 4172 info |
| Forex Pairs (Total) info | 80 | 69 |
| U.S. Stocks (Shares) info | Yes | Yes |
| Global Stocks (Non-U.S. Shares) info | Yes | Yes |
| Copy Trading info | No | Yes info |
| Cryptocurrency (Underlying) info | No | Yes |
| Cryptocurrency (CFDs) info | Yes | Yes info |
| 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.
Trading platforms and tools
FOREX.com and OANDA both offer wide platform coverage for forex and CFD traders: free demo (paper) accounts, proprietary platforms built in-house, Windows desktop downloads, and web-based trading. Prefer MetaTrader? Both brokers support MT4 and MT5. Each one lets you place trades directly from charts, and both provide chart indicators and watchlists to help you track markets.
There are a few key differences. OANDA supports copy trading, while FOREX.com does not. For overall trading platforms and tools, ForexBrokers.com rates FOREX.com at 5 stars and ranks it #5 out of 63 brokers, while OANDA earns 4 stars and ranks #16. If copy trading is important, OANDA has the edge; if overall platform quality and features lead your list, FOREX.com’s higher rating and ranking may be more appealing.
| Feature | Visit Site | |
|---|---|---|
| Virtual Trading (Demo) info | Yes | Yes |
| Proprietary Desktop Trading Platform info | Yes | Yes |
| Desktop Platform (Windows) info | Yes | Yes |
| Web Platform info | Yes | Yes |
| Copy Trading info | No | Yes info |
| MetaTrader 4 (MT4) info | Yes | Yes |
| MetaTrader 5 (MT5) info | Yes | Yes info |
| Charting – Indicators / Studies (Total) info | 90 | 89 |
| Charting – Trade From Chart info | Yes | Yes |
Forex trading apps
FOREX.com and OANDA both deliver full-featured mobile trading apps for iPhone and Android. Each app supports price alerts, lets you draw trendlines on charts, and auto-saves your chart annotations. Both brokers earn a 5-star rating for Mobile Trading Apps, making them strong picks for traders who rely on their phones.
Differences show up in charting depth and watchlists. FOREX.com offers 90 technical studies on mobile, compared with 30 at OANDA, and it syncs watchlists between the app and your online account, while OANDA does not. In ForexBrokers.com’s Mobile Trading Apps category, FOREX.com ranks #2 out of 63 brokers; OANDA ranks #7. If you want more indicators and seamless watchlist syncing, FOREX.com has the edge; if you only need core tools, OANDA still covers the basics well.