feed linkedin-square facebook-square twitter-square question-circle-o

Compare FXCM vs Oanda


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

FXCM vs Oanda
overall rating
4.3 / 5.0
4.2 / 5.0
overall pros
  • Low trading fees and financing rates
  • Good technical research tools
  • Fast and straightforward account opening
  • Easy-to-use web trading platform
  • Easy and digital account opening
  • Powerful research tools
overall cons
  • Limited product portfolio
  • Poor mobile platform
  • Poor desktop trading platform
  • Only FX, and some CFDs
  • Poor customer service
  • Pricey withdrawal
fees
4 stars
  • Low trading fees
  • No withdrawal fee
  • Low financing rate
  • Transparent fee structure
  • Inactivity fee
3 stars
  • Low trading fees
  • Withdrawal fee
  • High financing rate
  • Financing rate calculation is non-transparent
account opening
4 stars
  • Fully digital account opening
  • No minimum account balance
  • User-friendly
  • Account opening takes several days
4 stars
  • Fast account opening
  • Fully digital account opening
  • No minimum account balance
  • Sales team pushy
  • It can take up to 3 business days
deposit and withdrawal
4 stars
  • Credit/Debit card deposit and withdrawal
  • No deposit fee
  • User-friendly
  • Slow funding and withdrawal - over 3 days
  • Withdrawal fee for bank transfer can be high
4 stars
  • Several account base currencies
  • User-friendly
  • First withdrawal is free for credit/debit cards and electronic wallets
  • High withdrawal fee
  • Slow funding and withdrawal - over 3 days
web trading platform
3 stars
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Available in several languages
  • No two-step (safe) login
  • Setting alerts is complicated
5 stars
  • User-friendly
  • Good search function
  • Good customizability (for charts, workspace)
  • No price alerts
mobile trading platform
2 stars
  • Good variety of order types
  • Order confirmation
  • Not user-friendly
  • No two-step (safe) login
  • Poor search function
4 stars
  • Two-step (safe) login
  • Price alerts
  • Does not look nice
desktop trading platform
3 stars
  • Good customizability (for charts, workspace)
  • Available in several languages
  • Not user-friendly
  • No two-step (safe) login
  • Setting alerts is not a piece of cake
3 stars
  • User-friendly
  • Good customizability (for charts, workspace)
  • Two-step (safe) login
  • Not user-friendly
  • Poor search function
markets and products
1 stars
  • Forex
  • CFD
  • Crypto
1 stars
  • Forex
  • CFD
research
5 stars
  • Good interactive chart
  • Good set of analytical tools
  • No fundamental data available
4 stars
  • Good interactive chart
  • Good set of analytical tools
  • Great API offer
  • No analyst recommendations for stocks, bonds, etc.
  • No fundamental data available
  • Research tool are not at one place
customer service
5 stars
  • Live chat
  • Fast response time
  • Available in local languages
  • No 24/7
3 stars
  • Live chat
  • Available from Sunday to Friday
  • Slow support
  • Irrelevant answers
education
5 stars
  • Demo account
  • Educational videos
  • Easy to understand
4 stars
  • Demo account
  • Trading platform tutorial videos
  • Educational videos
  • Videos can be better organized
  • Regulated by top tier financial authority
  • Negative balance protection
  • £85,000 FSCS protection for European clients
  • Regulated by top tier financial authority
  • High level of investor protection
  • Negative balance protection
  • Not listed on stock exchange
  • Financial information is not publicly available
recommended for Forex traders looking for easy account opening, funding, and withdrawal processes Forex traders that prefer a user-friendly platform and great research tools