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Oanda vs FXCM

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.

 

Oanda vs FXCM
  Oanda FXCM
Overall score 4.6 4.5
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

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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.

 

Back to Oanda alternatives

Back to Oanda review for 2022

 

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Author of this article

Edith Balázs

Author of this article

Edith is an experienced financial journalist having worked for 15+ years as a correspondent for Bloomberg, Dow Jones and The Wall Street Journal covering macroeconomics, stock, currency and fixed income markets. She holds a master's degree in American Studies and Journalism.

Edith Balázs

Senior Editor

Edith is an experienced financial journalist having worked for 15+ years as a correspondent for Bloomberg, Dow Jones and The Wall Street Journal covering macroeconomics, stock, currency and fixed income markets. She holds a master's degree in American Studies and Journalism.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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