Compare FP Markets vs Oanda


Online brokers compared for fees, trading platforms, safety and more. See how FP Markets stacks up against Oanda!

FP Markets vs Oanda
overall rating
4.4
4.4
overall pros
  • Low forex fees
  • Easy and fast account opening
  • Quick deposits and withdrawals
  • Low trading fees
  • Great trading platforms
  • Outstanding research tools
overall cons
  • High stock CFD fees
  • Limited product portfolio
  • Outdated web and desktop platform
  • Only FX and CFD available
  • No stock exchange listing and banking background
  • Withdrawal fee can be high
fees
4.2
  • Low trading fees
  • Low non-trading fees
  • Low forex fees
  • High stock CFD fees
  • High fee for international bank withdrawal
2.9
  • Low trading fees
  • Low forex fees
  • First credit/debit card withdrawal per month is free
  • High withdrawal fee for bank transfers
account opening
5.0
  • Fast
  • Fully digital
  • No minimum deposit for forex accounts
  • High minimum account balance for CFD and stock account types
4.4
  • Fully digital
  • No minimum deposit
deposit and withdrawal
4.7
  • Credit/Debit card available
  • No deposit fee
  • Several account base currencies
  • Some withdrawal options are not free of charge
  • Client portal logged us off multiple times
4.2
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
  • High withdrawal fee for bank transfers and PayPal
web trading platform
2.8
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Order confirmation
  • No two-step (safer) login
  • No price alerts
  • Outdated design
4.5
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
  • No price alerts
mobile trading platform
3.8
  • User-friendly
  • Good search function
  • Price alerts
  • No two-step (safer) login
  • No Touch/Face ID login
  • No order confirmation
5.0
  • User-friendly
  • Two-step (safer) login
  • Good search function
  • No Touch/Face ID login
desktop trading platform
3.4
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Price alerts
  • No two-step (safer) login
4.5
  • User-friendly
  • Clear fee report
  • Good customizability (for charts, workspace)
  • No price alerts
markets and products
2.0
  • Forex
  • CFD
  • Crypto
  • Stocks traded on the Australian Securities Exchange
1.6
  • Forex
  • CFD
research
2.8
  • Trading ideas
  • User-friendly
5.0
  • Good interactive chart
  • Data on asset fundamentals
  • Quality news flow
  • Great API
  • No trading ideas
  • Research tools are poorly organized
customer service
3.5
  • Live chat
  • Fast response time
  • Great email support
  • No 24/7 support
4.5
  • Phone support
  • Live chat
  • Fast response time
  • No 24/7 support
education
4.0
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • No webinars
5.0
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Materials are not well-organized
  • Negative balance protection under CySEC
  • €20,000 investor protection under CySEC
  • Does not hold a banking license
  • No negative balance protection under ASIC
  • No investor protection under ASIC
  • Majority of clients belong to a top-tier financial authority
  • Negative balance protection
  • Financial information is publicly available
  • Does not hold a banking license
  • Not listed on stock exchange
recommended for Forex and CFD traders familiar with MetaTrader and IRESS trading platforms Forex traders who value a user-friendly platform and great research tools
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