Oanda Logo
Our top alternative brokers to Oanda
Forex.com
4.5
Visit broker
77% of retail CFD accounts lose money
Pepperstone
4.5
Visit broker
74-89% of retail CFD accounts lose money
Our top alternative brokers to Oanda
Forex.com
4.5
Visit broker
77% of retail CFD accounts lose money
Pepperstone
4.5
Visit broker
74-89% of retail CFD accounts lose money
Oanda Alternatives

The best alternatives to Oanda are

  1. Pepperstone - Australian forex broker
  2. FXCM - Global forex broker
  3. Forex.com - Global CFD and forex broker
  4. Tickmill - Global forex broker

Let's see in a bit more detail how the Oanda alternatives compare to Oanda and each other:

Oanda alternatives comparison
Oanda Pepperstone FXCM Forex.com Tickmill
Overall score 4.6 4.5 4.5 4.5 4.5
Fees score 4.1 stars 4.4 stars 4.2 stars 3.9 stars 4.4 stars
Account opening score 4.4 stars 5.0 stars 4.4 stars 4.4 stars 5.0 stars
Deposit and withdrawal score 4.2 stars 4.3 stars 4.0 stars 4.3 stars 4.5 stars
Web platform score 4.5 stars 2.8 stars 3.3 stars 4.3 stars 2.8 stars
Markets and products score 1.6 stars 1.7 stars 1.6 stars 2.0 stars 1.4 stars
Visit broker
74-89% of retail CFD accounts lose money
Visit broker
67% or 74-89% of retail CFD accounts lose money
Visit broker
77% of retail CFD accounts lose money
Visit broker
73% of retail CFD accounts lose money

Why are these brokers considered good alternatives to Oanda? There are many areas based on which Oanda can be compared with others. When we say a given online broker is a good alternative to Oanda we mean these brokers are comparable in the following areas:

  • The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
  • The type of clients they target, i.e. beginners, experienced investors, or day traders.

Oanda alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

  • Oanda is recommended for forex traders who value a user-friendly platform and great research tools
  • Pepperstone is recommended for forex traders looking for great account opening and customer service
  • FXCM is recommended for forex traders looking for easy account opening, funding and withdrawal
  • Forex.com is recommended for forex traders looking for low fees and great research tools
  • Tickmill is recommended for forex traders looking for low fees and prefer metatrader 4 platform

Important factors of finding Oanda alternatives

So far BrokerChooser has reviewed 94 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

  • open a live account
  • check over 100 criteria, with weighting based on readers' preferences
  • refresh data regularly

Whether Oanda or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. Oanda is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost Oanda alternative.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you can make a deposit with a credit card at Oanda, this might not be the case at its alternatives.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given Oanda alternative is a must.


Now let's dive into the details of how Oanda and its alternatives perform in the most important areas!

Oanda alternatives
Pepperstone

Pepperstone is an Australian forex broker that also offers CFDs. It was established in 2010 and opened a London office in 2015 to be able to better serve its European clients. After Brexit, new clients registering from the EU are served by their German and Cyprus arm.

Pepperstone is considered safe because it's regulated by three top-tier financial authorities: the UK's Financial Conduct Authority (FCA), Germany's BaFin and the Australian Securities and Investments Commission (ASIC).

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% 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.

Recommended for forex traders looking for great account opening and customer service

Pros Cons
Fast and fully digital account opening Only CFDs offered
Great customer service MetaTrader platform is basic
Seamless and free deposit and withdrawal

Visit broker
74-89% of retail CFD accounts lose money

Fees
4.4

Pepperstone has low forex and non-trading fees, as no inactivity or account fee is charged. However, the CFD financing rates, i.e. fees for holding CFD positions overnight, are high for a few assets.
Pros Cons
Low forex fees High costs for holding positions overnight
No withdrawal fee
No inactivity fee
Oanda vs. Pepperstone: Trading fees
Pepperstone Oanda
EURUSD benchmark fee $6.7 $7.7
EURGBP benchmark fee $8.5 $9.2

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

Visit broker More
74-89% of retail CFD accounts lose money

Account opening
5.0

Pepperstone's account opening process is great. It is fully digital, user-friendly, and requires no minimum deposit for the Standard account.
Pros Cons
Fast None
Fully digital
No minimum deposit
Oanda vs. Pepperstone: Minimum deposit, time to open an account
Pepperstone Oanda
Minimum deposit $0 $0
Time to open account 1 day 1-3 days

If you are interested more in Pepperstone minimum deposit, this overview will help you.

Visit broker More
74-89% of retail CFD accounts lose money

Deposit and withdrawal
4.3

Pepperstone provides plenty of deposit and withdrawal options, as well as a wide selection of account base currencies. However, there is a high, $20 fee for bank withdrawals for clients outside the EU and Australia.
Pros Cons
Credit/Debit card available High bank withdrawal fee for clients outside the EU/Australia
No deposit fee
Several account base currencies
Oanda vs. Pepperstone: Withdrawal options
Pepperstone Oanda
Bank transfer Yes Yes
Credit/debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

Visit broker More
74-89% of retail CFD accounts lose money

Web trading platform
2.8

Pepperstone's web trading platform is provided by MetaTrader. It is highly customizable, available in many languages, and has a clear fee report. On the other hand, it lacks two-step login and price alerts, and its design is outdated.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Order confirmation
Web trading platform of Pepperstone, a Oanda alternative
Oanda vs. Pepperstone: Trading platform scores
Pepperstone Oanda
Web platform score 2.8 stars 4.5 stars
Mobile platform score 3.8 stars 5.0 stars
Desktop platform score 3.4 stars 4.5 stars

Learn more about Pepperstone's web trading platform in the detailed Pepperstone review.

Visit broker
74-89% of retail CFD accounts lose money

Markets and products
1.7

At Pepperstone you can only trade with forex and other CFDs (commodities, stock indices, share CFDs, cryptos). This means that many popular asset classes, like real stocks and ETFs, are missing.
Oanda vs. Pepperstone: Markets and products
Pepperstone Oanda
Stocks No No
ETFs No No
Forex Yes Yes
Funds No No
Bonds No No
Options No No
Futures No No
CFDs Yes Yes
Crypto Yes Yes

Visit broker More
74-89% of retail CFD accounts lose money

Verdict

Pepperstone is a great forex and CFD broker, regulated by the top-tier FCA, BaFin and ASIC.

The account opening is fast and fully digital. Customer service is great, giving you relevant answers within a short time. Deposit and withdrawal are a breeze, with no fees charged.

On the other hand, at Pepperstone you can trade only CFDs. If you're looking for advanced features in your trading platform then you might be disappointed with MetaTrader.

Feel free to try Pepperstone since there is no inactivity fee or minimum deposit for standard accounts.

Pepperstone
Summary Pepperstone is a forex and CFD broker regulated by both the UK FCA and the ASIC in Australia.
Fees score 4.4 stars
Recommended for Forex traders looking for great account opening and customer service

Visit broker More
74-89% of retail CFD accounts lose money

Oanda alternatives
FXCM

Forex Capital Markets Limited: FCA registration number 217689 (www.fxcm.com/uk)

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FXCM EU LTD: CySEC license number 392/20 (www.fxcm.com/eu)

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FXCM, is a UK-based broker offering CFDs (on shares, stock indices, forex, commodities and cryptos) trading. FXCM was established in 1999 and the majority economic owner of FXCM is Jefferies Financial Group, which is listed on the New York Stock Exchange and has a background in merchant banking.

FXCM is considered safe as it has a long track record, a strong parent company, and is regulated by top-tier financial authorities like the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC). It is also regulated by the Cyprus Securities and Exchange Commission (CySEC) and South Africa’s Financial Sector Conduct Authority (FSCA).

Recommended for forex traders looking for easy account opening, funding and withdrawal

Pros Cons
Fast and straightforward account opening Limited product portfolio
Good technical research tools High bank withdrawal fees
High-quality educational content No two-step authentication on trading platforms

Visit broker
67% or 74-89% of retail CFD accounts lose money

Fees
4.2

FXCM has low forex fees and average non-trading fees. There are no account, deposit, or credit/debit card withdrawal fees. However, you have to pay a $50 fee after one year of inactivity and bank withdrawal can be costly.
Pros Cons
Low forex fees Inactivity fee after one year
No withdrawal fee High bank withdrawal fees
Low financing rate
Oanda vs. FXCM: Trading fees
FXCM Oanda
EURUSD benchmark fee $8.2 $7.7
EURGBP benchmark fee $11.6 $9.2

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

Visit broker More
67% or 74-89% of retail CFD accounts lose money

Account opening
4.4

The account opening process at FXCM is hassle-free, but the minimum deposit is $50 in Europe and in non-EU countries as well. Also, the account opening time is longer than usual.
Pros Cons
Fully digital Slower than at most forex brokers
Low minimum deposit
User-friendly
Oanda vs. FXCM: Minimum deposit, time to open an account
FXCM Oanda
Minimum deposit $50 $0
Time to open account 1-3 days 1-3 days

If you are interested more in FXCM minimum deposit, this overview will help you.

Visit broker More
67% or 74-89% of retail CFD accounts lose money

Deposit and withdrawal
4.0

There are multiple options both for deposits and withdrawals, but bank withdrawals have high fees and only a few account currencies are available.
Pros Cons
Credit/Debit card available High bank withdrawal fees
No deposit fee No minor account base currencies are accepted
Free credit/debit card withdrawal
Oanda vs. FXCM: Withdrawal options
FXCM Oanda
Bank transfer Yes Yes
Credit/debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

Visit broker More
67% or 74-89% of retail CFD accounts lose money

Web trading platform
3.3

FXCM's web trading platform is extremely customizable, provides a wide range of order types and has a great search function. On the other hand, it lacks two-step authentication.
Pros Cons
Good search function No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Good variety of order types
Web trading platform of FXCM, a Oanda alternative
Oanda vs. FXCM: Trading platform scores
FXCM Oanda
Web platform score 3.3 stars 4.5 stars
Mobile platform score 4.5 stars 5.0 stars
Desktop platform score 3.8 stars 4.5 stars

Learn more about FXCM's web trading platform in the detailed FXCM review.

Visit broker
67% or 74-89% of retail CFD accounts lose money

Markets and products
1.6

FXCM provides only CFDs (on shares, stock indices, forex, commodities and cryptos). Popular asset classes, like real stocks and bonds, are not available for trading.
Oanda vs. FXCM: Markets and products
FXCM Oanda
Stocks No No
ETFs No No
Forex Yes Yes
Funds No No
Bonds No No
Options No No
Futures No No
CFDs Yes Yes
Crypto Yes Yes

Visit broker More
67% or 74-89% of retail CFD accounts lose money

Verdict

FXCM is a great forex and CFD broker. Its majority economic owner is the Jefferies Financial Group. Also it  is regulated by multiple top-tier financial authorities, including the FCA and ASIC.

FXCM’s technical research and educational tools are high-quality and well-organized.

On the other hand, FXCM's product selection is limited to only CFDs (on shares, stock indices, forex, commodities and cryptos). Bank withdrawal fees are high and trading platforms lack a secure two-step login. 

Feel free to try FXCM, as their minimum deposit requirement is low and the inactivity fee only kicks in after a year.

 

FXCM
Summary FXCM is a UK-based broker offering forex and CFD trading. It is regulated by the FCA and Australia's ASIC.
Fees score 4.2 stars
Recommended for Forex traders looking for easy account opening, funding and withdrawal

Visit broker More
67% or 74-89% of retail CFD accounts lose money

Oanda alternatives
Forex.com

Forex.com is a global FX and CFD broker established in 2001. Forex.com is a brand of StoneX Financial Ltd, whose parent company StoneX Group Inc is listed on the NASDAQ Stock Exchange. The company is regulated by several financial authorities, including the top-tier Financial Conduct Authority (FCA) in the UK and the US Commodity Futures Trading Commission (CFTC).

Forex.com is considered safe because it has a long track record, it is regulated by top-tier financial authorities, and its parent company is listed on a stock exchange.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders looking for low fees and great research tools

Pros Cons
Low forex fees Limited product portfolio
Great variety of currency pairs High stock CFD fees
Diverse technical research tools Non-user-friendly desktop platform

Visit broker
77% of retail CFD accounts lose money

Fees
3.9

Forex.com has low fees for forex trades and there is no withdrawal fee. On the other hand, stock CFD fees are high and there is an inactivity fee.
Pros Cons
Low forex fees Inactivity fee
No withdrawal fee High stock CFD fees
Low stock index CFD fees
Oanda vs. Forex.com: Trading fees
Forex.com Oanda
EURUSD benchmark fee $6.1 $7.7
EURGBP benchmark fee $7.5 $9.2

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

Visit broker More
77% of retail CFD accounts lose money

Account opening
4.4

Forex.com's account opening is seamless and fully digital, with a low minimum deposit. On the other hand, account verification takes around 2 business days, which is not the fastest on the market.
Pros Cons
Fully digital Relatively slow account verification
Low minimum deposit
User-friendly
Oanda vs. Forex.com: Minimum deposit, time to open an account
Forex.com Oanda
Minimum deposit $100 $0
Time to open account 1-3 days 1-3 days

If you are interested more in Forex.com minimum deposit, this overview will help you.

Visit broker More
77% of retail CFD accounts lose money

Deposit and withdrawal
4.3

Forex.com provides multiple deposit and withdrawal options, all free of charge. However, withdrawal is not possible with some credit cards.
Pros Cons
Credit/Debit card available Problem with credit card withdrawal
Free withdrawal
No deposit fee
Oanda vs. Forex.com: Withdrawal options
Forex.com Oanda
Bank transfer Yes Yes
Credit/debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

Visit broker More
77% of retail CFD accounts lose money

Web trading platform
4.3

Forex.com's web trading platform is user-friendly and extremely customizable, with lots of order types. On the negative side, there is no two-step login.
Pros Cons
User-friendly No two-step (safer) login
Good customizability (for charts, workspace)
Good variety of order types
Web trading platform of Forex.com, a Oanda alternative
Oanda vs. Forex.com: Trading platform scores
Forex.com Oanda
Web platform score 4.3 stars 4.5 stars
Mobile platform score 4.3 stars 5.0 stars
Desktop platform score 3.0 stars 4.5 stars

Learn more about Forex.com's web trading platform in the detailed Forex.com review.

Visit broker
77% of retail CFD accounts lose money

Markets and products
2.0

At Forex.com, you can only trade with forex, CFDs and cryptos. Other asset classes, like real stocks or funds, are not available.
Oanda vs. Forex.com: Markets and products
Forex.com Oanda
Stocks No No
ETFs No No
Forex Yes Yes
Funds No No
Bonds No No
Options No No
Futures No No
CFDs Yes Yes
Crypto Yes Yes

Visit broker More
77% of retail CFD accounts lose money

Verdict

Forex.com is a great forex and CFD broker regulated by several financial authorities, such as the UK's FCA and the US CFTC.

On the positive side, it has low forex fees, many tradable currency pairs, and high-quality research tools.

It has some drawbacks though. Popular assets like real stocks or bonds are not available. Stock CFD fees are quite high, and the desktop platform is not easy to use.

Since there is no inactivity fee unless you don't trade for one year, feel free to try Forex.com today.

Forex.com
Summary Forex.com is a global forex and CFD broker, regulated by many financial authorities including the top-tier UK FCA. Its parent company, StoneX Group Inc. is listed on the NASDAQ Stock Exchange.
Fees score 3.9 stars
Recommended for Forex traders looking for low fees and great research tools

Visit broker More
77% of retail CFD accounts lose money

Oanda alternatives
Tickmill

Tickmill is a global forex and CFD broker, established in 2014. The company is regulated by several financial authorities globally, including the top-tier Financial Conduct Authority (FCA) in the United Kingdom.

Tickmill is considered safe because it is regulated by the top-tier FCA.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders looking for low fees and prefer metatrader 4 platform

Pros Cons
Low forex fees Only forex and CFDs
Fast and easy account opening Trading platforms with outdated design
Free deposit and withdrawal Basic news feeds

Visit broker
73% of retail CFD accounts lose money

Fees
4.4

Tickmill has low forex, but average CFD fees. There is no fee for deposit, withdrawal, or inactivity.
Pros Cons
Low forex fees Average CFD fees
No withdrawal fee
No inactivity fee
Oanda vs. Tickmill: Trading fees
Tickmill Oanda
EURUSD benchmark fee $6.9 $7.7
EURGBP benchmark fee $7.9 $9.2

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

Visit broker More
73% of retail CFD accounts lose money

Account opening
5.0

Tickmill has a fast and easy account opening process, with quick verification. The minimum deposit is low, at just $100.
Pros Cons
Fast None
Fully digital
Low minimum deposit
Oanda vs. Tickmill: Minimum deposit, time to open an account
Tickmill Oanda
Minimum deposit $100 $0
Time to open account 1 day 1-3 days

If you are interested more in Tickmill minimum deposit, this overview will help you.

Visit broker More
73% of retail CFD accounts lose money

Deposit and withdrawal
4.5

Deposit and withdrawal are fast and free of charge. There is a wide range of options including bank transfer, credit/debit cards, or electronic wallets. On the other hand, the number of available account base currencies is low.
Pros Cons
Free withdrawal Few account base currencies
No deposit fee
Oanda vs. Tickmill: Withdrawal options
Tickmill Oanda
Bank transfer Yes Yes
Credit/debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

Visit broker More
73% of retail CFD accounts lose money

Web trading platform
2.8

Tickmill's web trading platform is provided by MetaTrader. It is highly customizable and has a clear fee report. On the other hand, the platform lacks price alerts, and the design is outdated.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Order confirmation Poor design
Web trading platform of Tickmill, a Oanda alternative
Oanda vs. Tickmill: Trading platform scores
Tickmill Oanda
Web platform score 2.8 stars 4.5 stars
Mobile platform score 3.8 stars 5.0 stars
Desktop platform score 3.4 stars 4.5 stars

Learn more about Tickmill's web trading platform in the detailed Tickmill review.

Visit broker
73% of retail CFD accounts lose money

Markets and products
1.4

At Tickmill, you can trade only CFDs on forex, stock indices, commodities, and German government bonds. Popular asset classes, such as stocks, ETFs, mutual funds, bonds and options are missing.
Oanda vs. Tickmill: Markets and products
Tickmill Oanda
Stocks No No
ETFs No No
Forex Yes Yes
Funds No No
Bonds No No
Options No No
Futures No No
CFDs Yes Yes
Crypto No Yes

Visit broker More
73% of retail CFD accounts lose money

Verdict

Tickmill is a low-cost forex and CFD broker, regulated by several authorities globally, including the top-tier FCA.

On the plus side, we liked the low forex fees. Account opening is seamless and there are a lot of free deposit/withdrawal options.

Tickmill has some drawbacks though. Its product range is limited to forex, CFDs on some stock indexes and commodities. The trading platforms have outdated design and the news feed is basic.

We recommend Tickmill for those who are interested in CFD and forex trading and like MetaTrader trading platforms. Feel free to test it via the demo account.

Tickmill
Summary Tickmill is a low-cost forex and CFD broker. It is regulated by different financial authorities, including the top-tier FCA.
Fees score 4.4 stars
Recommended for Forex traders looking for low fees and prefer MetaTrader 4 platform

Visit broker More
73% of retail CFD accounts lose money

Oanda alternatives
Oanda

Oanda is an American forex broker founded in 1996. It is still a private company, thus not listed on any stock exchange.

Oanda is regulated by top-tier authorities, such as the US Commodity Trading Futures Commission, the National Futures Association (CFTC) and the UK's Financial Conduct Authority (FCA). 

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% 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.

The services offered by the broker's different entities differ slightly. In this review, we mainly focus on the UK one.

Recommended for forex traders who value a user-friendly platform and great research tools

Pros Cons
Great trading platforms Only FX and CFD available
Outstanding research tools No stock exchange listing and banking background
Fast and user-friendly account opening Customer support is not 24/7

Fees
4.1

Oanda has low forex, but average CFD fees. As a plus, the withdrawal fees are low.
Pros Cons
Low forex fees Average CFD fees
First credit/debit card withdrawal per month is free
Oanda alternatives trading fees
Oanda Pepperstone FXCM Forex.com Tickmill
EURUSD benchmark fee $7.7 $6.7 $8.2 $6.1 $6.9
EURGBP benchmark fee $9.2 $8.5 $11.6 $7.5 $7.9

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

Account opening
4.4

Oanda's account opening is straightforward, with no required minimum balance.
Pros Cons
Fully digital None
No minimum deposit
Oanda alternatives minimum deposit and account open times
Oanda Pepperstone FXCM Forex.com Tickmill
Minimum deposit $0 $0 $50 $100 $100
Time to open account 1-3 days 1 day 1-3 days 1-3 days 1 day

Learn more about Oanda minimum deposit here.

Deposit and withdrawal
4.2

Oanda charges no deposit and account fees. The inactivity fee is also reasonable. You can also withdraw your money free of charge with a debit or credit card, but bank transfers and PayPal withdrawals are quite costly.
Pros Cons
Credit/Debit card available High withdrawal fee for bank transfers and PayPal
Free withdrawal
No deposit fee
Oanda and alternatives withdrawal options and fees
Oanda Pepperstone FXCM Forex.com Tickmill
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card Yes Yes Yes Yes Yes
Electronic wallets Yes Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $0 $0

Web trading platform
4.5

Oanda's web trading platform is user-friendly and safe with good customizability. On the downside, you can't set price alerts.
Pros Cons
User-friendly No price alerts
Clear fee report
Two-step (safer) login
Oanda - Web trading platform
Oanda and alternatives trading platform scores
Oanda Pepperstone FXCM Forex.com Tickmill
Web platform score 4.5 stars 2.8 stars 3.3 stars 4.3 stars 2.8 stars
Mobile platform score 5.0 stars 3.8 stars 4.5 stars 4.3 stars 3.8 stars
Desktop platform score 4.5 stars 3.4 stars 3.8 stars 3.0 stars 3.4 stars

Learn more about Oanda's web trading platform in the detailed Oanda review.

Markets and products
1.6

At Oanda you can trade only forex and CFDs. It offers fewer forex pairs but more CFDs than its closest competitors.
Oanda and alternatives markets and products
Oanda Pepperstone FXCM Forex.com Tickmill
Stocks No No No No No
ETFs No No No No No
Forex Yes Yes Yes Yes Yes
Funds No No No No No
Bonds No No No No No
Options No No No No No
Futures No No No No No
CFDs Yes Yes Yes Yes Yes
Crypto Yes Yes Yes Yes No

Verdict

Oanda is a great forex broker. It has user-friendly trading platforms that you will quickly learn to use confidently. It also provides powerful research tools, especially trading APIs. The account opening is easy and quick.

On the other hand, Oanda's product selection is limited to forex and CFD products. It doesn't have a banking background and is not listed on any stock exchange, two typical factors that enhance transparency and regulatory scrutiny. Customer support is not 24/7 as well.

Feel free to try Oanda: it is regulated by top-tier regulators, there is no minimum deposit, and the inactivity fee only kicks in after one year.

Oanda
Summary Oanda is a US forex broker. It is regulated by top-tier authorities like the UK FCA and Australia's ASIC.
Fees score 4.1 stars
Recommended for Forex traders who value a user-friendly platform and great research tools

Oanda alternatives
Bottom line

Based on our analysis, there are several good alternatives to Oanda. They all offer similar products and target similar customers. Here's a recap of the results in a table.

Oanda alternatives
Broker Info Recommended for
Oanda US forex broker Forex traders who value a user-friendly platform and great research tools
Pepperstone Australian forex broker Forex traders looking for great account opening and customer service
FXCM Global forex broker Forex traders looking for easy account opening, funding and withdrawal
Forex.com Global CFD and forex broker Forex traders looking for low fees and great research tools
Tickmill Global forex broker Forex traders looking for low fees and prefer MetaTrader 4 platform

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.

Author of this article

Gergely Korpos

Author of this article

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Gergely Korpos

Co-founder, CPO

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

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

Share

Comments

Visit broker
74-89% of retail CFD accounts lose money
Visit broker
74-89% of retail CFD accounts lose money
Visit broker
67% or 74-89% of retail CFD accounts lose money
Visit broker
77% of retail CFD accounts lose money
Visit broker
73% of retail CFD accounts lose money
×