Forex.com
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Majority of retail CFD accounts lose money.

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Oanda
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74-89% of retail CFD accounts lose money.

Forex.com Vs. Oanda - Compare and Choose the Right One

Updated May 13 2022

Visit

Majority of retail CFD accounts lose money.

Visit

74-89% of retail CFD accounts lose money.

Overview

Forex.com is a global broker headquartered in the U.S and part of StoneX (publicly traded company on NASDAQ) that specialises in offering CFDs based on commodities, currencies, indices, stocks, ETFs, shares, bonds and cryptocurrencies.

Oanda is an international Forex broker founded in 1996 with headquarters in the United States. Oanda specialises exclusively in currency trading solutions for all trader levels. Their greatest selling points are their strong regulatory framework and robust proprietary platforms.

Best For
  • Traders of all levels (beginner to advanced) looking for competitive pricing
  • Trades of all levels looking for a great platform variety
  • High volume traders looking for ECN or DMA accounts offering deep liquidity for large trades
  • Forex traders of all levels (from beginner to advanced)
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

4

Other Licenses

2

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

7

Other Licenses

1

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • FINRA (United States)
  • FCA (UK)
  • FFAJ (Japan)
  • IIROC (Canada)
  • CySec (Cyprus)
  • CIMA (Cayman Islands)
  • CFTC (U.S)
  • NFA (U.S)
  • ASIC (Australia)
  • FCA (UK)
  • MAS (Singapore)
  • IIROC (Canada)
  • FFAJ (Japan)
  • BVI (British Virgin Islands)
The Good
  • Great platform offering (Proprietary, TradingView, MetaTrader 4 & 5)
  • Excellent asset offering (more than 5,000+ instruments)
  • Competitive spreads in some of their assets
  • High trustworthiness, regulated by the best regulators in the world
  • Fast, simple and professional trading platforms
  • Competitive spreads in their currency pairs
The Bad
  • Despite presenting a great customisable platform, it still feels messy and not intuitive to use
  • Commissions are expensive when compared to similar competitors 
  • Extremely limited offering of assets (104)
  • No ability to purchase real stocks or cryptocurrencies, only CFDs
Status
Operational Operational
Recent News
N/A N/A
Key Data
⌛ Account Opening Time
1 Day 1 day minimum (may take longer)
📋 Documents Required
  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

*There is no document verification needed for gross account deposits below US$9,000.

📍 Year Founded
2001 1996
💳 Minimum Deposit
$100 $, €, £, - 0.
💰 Payment Methods
  • Visa
  • Mastercard
  • Skrill
  • Neteller
  • Bank Transfer
  • Visa
  • Mastercard
  • Bank Transfer
  • Paypal
💵 Account Base Currencies
6 - GBP, USD, EUR, AUD, JPY, CHF. 9 - USD, EUR, GBP, SGD, CHF, JPY, AUD, CAD, HKD.
🗽 Available to U.S Citizens
Yes Yes
❌ Restricted Countries
None AF, AL, BS, BB, BW, BF, BI, KH, KY, CF, TD, CD, CG, CU, ER, ET, GH, IR, IQ, JM, KP, LY, MU, MN, MA, MM, NI, NG, PK, PS, PA, SN, SL, SO, SS, SD, SY, TT, TN, UG, VU, YE, ZW.
📊 STP Account
Yes No
📊 DMA Account
Yes No
📊 ECN Account
Yes Yes
Assets
📚 Available Assets

CFDs on currencies, commodities, indices, bonds, shares and cryptocurrencies.

CFDs on currencies, commodities, cryptocurrencies, indices and bonds.

📙 Stocks
4,500+ N/A
📘 Currency Pairs
93 68
📗 Commodities
35 13
📕 Indices
24 16
📔 ETFs
700+ N/A
💸 Cryptocurrencies
5 4
📒 Bonds
14 6
📓 Options
N/A N/A
📗 Futures
N/A N/A
📝 Notes:

All of Forex.com’s assets are CFDs.

All Oanda's assets are CFDs. In the case of commodities, they only have 13, but each commodity has various trading pairs against several different currencies, eg: GOLD/EUR, GOLD/CHF, etc.

Trading Experience
📈 Minimum Stock Trade Size
Varies per share (eg: 0.3 AMZN shares) N/A
📉 Minimum ETFs Trade Size
Varies per ETF (eg: 5 contracts of XLK) N/A
📈 Minimum Crypto Trade Size
Varies per Cryptocurrency (eg: 0.01 BTC) Varies by crypto (Eg: 0.01 BTC)
📉 Minimum FX Trade Size
$1,000 (0.01 Lots) 1 unit of any currency pair (Eg: 1 Euro, 1 Usd, 1 GBP, etc)
📈 Minimum Commodities Trade Size
Varies per commodity (eg: 1 contract of Gold) Varies by Commodity (Eg: 1 Troy ounce of Gold)
📉 Minimum Bonds Trade Size
Varies per Bond (eg: 1 contract of Euro Bobl) 1 unit of any Bond contract
📈 Minimum Futures Trade Size
N/A N/A
📉 Minimum Options Trade Size
N/A N/A
💪 Retail Leverage
Up to 1:30 Up to 1:30
💪 Professional Leverage
Up to 1:500 Up to 1:100
✍ Customisable Leverage
No Yes
🎲 Deleveraged Trading
Yes No
🎓 Demo Account
Yes Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
Yes Yes
📺 MetaTrader 5
Yes Yes
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes Yes
💻 Proprietary Platform
Yes Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
No No
👫 Social Trading
No No
🔑 Guaranteed Stop-loss
No Yes
🔨 Trailing Stop-loss
Yes Yes
Fees
💰 Inactivity Fee

Yes, $15 monthly after 1 year of inactivity.

Yes, $10 after 1 year of inactivity
💰 Deposit Fees
No No
💰 Withdrawal Fees
No

Credit and Debit cards are free, when it comes to Bank transfer depends on the account's base currency (eg: the first withdrawal costs $, €, £ 20 and any subsequent ones 35). In the case of SGD, there are no fees.

💰 Commissions

Yes depending on account type.

  • Standard account has no commissions
  • “Commission Account” and “DMA Account” have a flat $5 fee commission per lot round turn

No, but they do charge currency conversion fees. If your account base currency is GBP and you trade the EUR/USD pair, you'll be paying a conversion fee.

Spreads
📈 EUR/USD
Dynamic - From 0.8 Pips Dynamic - From 0.8 Pips
📉 SP500
From 60 Pips Dynamic - From 30 Pips
📈 GOLD
From 50 Pips Dynamic - From 26 Pips
📉 TSLA (Stock CFD)
Dynamic - Market Spread N/A
📈 XLK (ETF - CFD)
Dynamic - Market Spread N/A
📉 BTC
From $120 Dynamic - From $100
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes Yes
📡 Reuters Feed
Yes No

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