Oanda ranks better in most key areas than FXCM apart from education (but FXCM's advantage is rather slight here). Oanda's proprietary trading platform, fairer fees, and top-notch research tools are very stong arguments in its favor.
When it comes to account opening and product selection, the two brokers have the same quality of service.
|Summary||Oanda is a US forex broker. It is regulated by top-tier authorities like the UK FCA and Australia's ASIC.||FXCM is a UK-based broker offering forex and CFD trading. It is regulated by the FCA and Australia's ASIC.|
|Recommended for||Forex traders who value a user-friendly platform and great research tools||Forex traders looking for easy account opening, funding and withdrawal|
|Fees score||4.2 stars||4.2 stars|
|Account opening score||4.2 stars||4.4 stars|
|Deposit and withdrawal score||4.2 stars||4.0 stars|
|Web platform score||4.5 stars||3.3 stars|
|Mobile platform score||5.0 stars||4.5 stars|
|Desktop platform score||4.5 stars||3.8 stars|
|Markets and products score||1.8 stars||1.6 stars|
|Research score||4.5 stars||4.3 stars|
|Customer service score||4.5 stars||4.5 stars|
|Education score||4.8 stars||5.0 stars|
78.3% of retail CFD accounts lose money
Pros of Oanda and FXCM
Easy, straightforward account opening
Great quality and selection of research tools
Cons of Oanda and FXCM
Product portfolio limited to FX and CFDs
For more details on FXCM versus OANDA check out our comparison tool.