| Online Broker | Minimum Deposit | Trading Platforms | Markets | About |
|---|---|---|---|---|
| FOREX.com | $100 Minimum Deposit | MT4, MT5, Advanced Trading Platform, Web Trader, TradingView Trading Platforms | 9,500+ Markets To Trade | FOREX.com is a long established broker offering MetaTrader and a range of other platforms and a large number of Stocks CFDs About |
| Oanda | $0 Minimum Deposit | MT4, MT5 Trading Platforms | 800+ Markets To Trade | Oanda is a long established MT4 broker additionally providing MT5, with no minimum deposit and a wide range of trading tools About |
Oanda vs FOREX.com Comparison
This is a comparison of Oanda Global Markets Ltd based and regulated in the British Virgin Islands vs FOREX.com based and regulated in the Cayman Islands (in other regions MT5 and TradingView may not be offered, as well as less market to trade). Both are long established brokers, offering MT4 and MT5. FOREX.com also provides its Advanced Trading Platform. Oanda is even longer established as an MT4 broker than FOREX.com and has a wide range of tools for different types of traders.
So traders who apply automated trading can use either and traders who execute trade on their own behalf can find platforms designed for them at FOREX.com and tools designed for them at Oanda (to use with or alongside MT4 and MT5). FOREX.com also provides tools including SMART Signals and Performance Analytics (Oanda also has a trading performance analysis tool).
Quick comparison
Both brokers offer MT4 and MT5. FOREX.com has a range of other platforms.
Minimum deposit and account features
The minimum initial deposit for FOREX.com is $100. There is no minimum deposit requirement for Oanda.
- FOREX.com offers three accounts types: Standard, Commission and DMA (as well as Demo). The Standard account has spreads from 0.8 without a commission charge. The Commission Account offers spreads from 0.2 plus a commission charge. The DMA account has a recommended balance of $25,000 (it has a minimum trade size of 1 lot, otherwise the minimum trade size is 0.01 lots). It has an Economic Calendar, Market Research and a News Feed on its platforms, offers SMART Signals, Performance Analysis, Autochartist and Trading Central and has a Trader Education course on its website.
- Oanda offers the following trading account types: Standard, Core, Swap-free, Premium and Premium Core. The Standard is described as suitable for all traders and has no minimum deposit requirement. The Core is described as suitable for EAs and scalpers. The Swap-free account is for traders who do not want to pay or receive interest on their account. All three of these accounts offer the Signal Center by Acuity. The Premium and Premium Core accounts are for high volume traders and require the trader to maintain a $20,000 minimum balance and trade more than $10 million notional or equivalent per month. These two accounts come with an Account Manager, Zero Deposit Fees (and reimburse bank fees), Free withdrawals, Priority support and a Free VPN.
- The Standard account has spreads from 1.1, the Core account has spreads from 0.2 and the Swap-free account offers spreads from 1.6 pips. The Premium account has spreads from 0.8 and the Premium Core account has spreads from 0.2. The Core and Premium Core accounts charges commissions, the Standard, Premium and Swap-free accounts do not. At Oanda Global, verification documents are not needed for gross account deposits below $9000. Tools include MarketPulse, with a range of analysis and market news, technical analysis powered by AutoChartist, an Economic Calendar and MetaTrader plug-in tools. The minimum trade size is 0.01 lots.
Markets
- FOREX.com offers Forex, Indices, Energy, Metals, Soft Commodities, Cryptocurrencies and Stocks, with 9,500+ available.
- Oanda offers Forex, Indices, Energy, Metals, Soft Commodities, Cryptocurrencies and Stocks, with 800+ available.
Cryptocurrency CFDs
- FOREX.com offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple CFDs.
- Oanda offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dogecoin, Binance Coin, Tezos, Uniswap, Cardano, Stellar, Chainlink, Polkadot and EOS CFDs.
| Broker | Trading Platforms | Description |
|---|---|---|
| Oanda Global Broker | MT4, MT5 Trading Platforms | Oanda offers MT4 and MT5 with a wide range of trading tools Description |
| FOREX.com Broker | MT4, MT5, Web Trader, Advanced Trading Platform Trading Platforms | FOREX.com provides a wide range of trading platforms and 80+ Forex pairs Description |
Leverage
Maximum leverage for Oanda (FSC regulated) is 200:1. Maximum leverage for FOREX.com (CIMA regulated) 200:1.
Commissions
- FOREX.com charges commissions for Stocks CFDs and a $5 per lot per side commission omn its Commission Account.
- Oanda has a commission charge on its Core account of $4 per lot and $3.5 per lot on its Premium Core account.
Online trading platforms
Oanda offers MT4 and MT5. FOREX.com provides MT4, MT5, a user friendly Web Trader, TradingView and its Advanced Trading Platform.
Foundation
Oanda was founded in 1996. FOREX.com was founded in 2001.
Payment methods
Both brokers support Bank Transfer and Credit/Debit Cards, Skrill and Neteller. Oanda additionally supports SafeCharge.
Why Oanda or FOREX.com ?
Traders who want to trade on MT4 or MT5 can try either broker. Traders who want to use EAs may do so at either broker. FOREX.com also offers a user friendly Web Trader and its Advanced Trading Platform and TradingView, for traders who execute their own trades. Both brokers have a wide range of tools. Traders who want to trade from a large number of Stocks CFDs can find 9,500 at FOREX.com
Comparison summary
- Both offer CFD trading
- Each provides MT4 and MT5
- FOREX.com additionally provides its Advanced Trading Platform and a user friendly Web Trader
- Oanda has no minimum deposit
- FOREX.com has many more markets to trade, with 9,500+ markets
