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

Vs.

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

FXCM Vs. Oanda - Compare and Choose the Right One

Updated May 13 2022

Visit

74-89% of retail CFD accounts lose money.

Visit

74-89% of retail CFD accounts lose money.

Overview

FXCM is a global brokerage headquartered in the U.K that specialises in both retail and institutional trading with a comprehensive API offering.

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
  • Professional algorithmic traders looking to benefit from their comprehensive API offering 
  • Forex traders of all levels (from beginner to advanced)
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

2

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
  • ASIC (Australia)
  • CySec (Cyprus)
  • FCA (United Kingdom)
  • FSCA (South Africa)
  • CFTC (U.S)
  • NFA (U.S)
  • ASIC (Australia)
  • FCA (UK)
  • MAS (Singapore)
  • IIROC (Canada)
  • FFAJ (Japan)
  • BVI (British Virgin Islands)
The Good
  • Comprehensive API offering with a variety of conditions and programming languages at no additional cost
  • Proprietary platform (Trading Station)
  • High trustworthiness, regulated by the best regulators in the world
  • Fast, simple and professional trading platforms
  • Competitive spreads in their currency pairs
The Bad
  • Lack of asset variety in their offering (over 300+ financial instruments)
  • Costly spreads 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
1999 (FXCM Group) 1996
💳 Minimum Deposit
€, £, $ - 50 (Varies by payment method) $, €, £, - 0.
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • Skrill

Skrill and Neteller are not available to FXCM EU clients at the moment

  • Visa
  • Mastercard
  • Bank Transfer
  • Paypal
💵 Account Base Currencies
4 - EUR GBP, USD, CHF. 9 - USD, EUR, GBP, SGD, CHF, JPY, AUD, CAD, HKD.
🗽 Available to U.S Citizens
No Yes
❌ Restricted Countries
RU, US, CA, JP, SK and more. 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
No No
📊 DMA Account
No No
📊 ECN Account
No Yes
Assets
📚 Available Assets

CFDs on stocks, currencies, commodities, cryptocurrencies and indices

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

📙 Stocks
200+ N/A
📘 Currency Pairs
39 68
📗 Commodities
11 13
📕 Indices
15 16
📔 ETFs
N/A N/A
💸 Cryptocurrencies

6 (Cryptocurrencies CFDs are not available to retail clients residing in the UK)

4
📒 Bonds
N/A 6
📓 Options
N/A N/A
📗 Futures
N/A N/A
📝 Notes:
All of FXCM'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
1 share N/A
📉 Minimum ETFs Trade Size
N/A N/A
📈 Minimum Crypto Trade Size
1 unit of any cryptocurrency Varies by crypto (Eg: 0.01 BTC)
📉 Minimum FX Trade Size
$1000 (0.01 Lots) 1 unit of any currency pair (Eg: 1 Euro, 1 Usd, 1 GBP, etc)
📈 Minimum Commodities Trade Size
Varies by Commodity (Eg: 1 Troy ounce of Gold) Varies by Commodity (Eg: 1 Troy ounce of Gold)
📉 Minimum Bonds Trade Size
N/A 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 (Varies) Up to 1:100
✍ Customisable Leverage
No Yes
🎲 Deleveraged Trading
No No
🎓 Demo Account
Yes Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
Yes Yes
📺 MetaTrader 5
No Yes
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes Yes
💻 Proprietary Platform
Yes Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
Yes No
👫 Social Trading
Yes No
🔑 Guaranteed Stop-loss
No Yes
🔨 Trailing Stop-loss
Yes Yes
Fees
💰 Inactivity Fee

50 units of the account's base currency yearly after 1 year of inactivity.

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

Yes on bank transfer withdrawals depending on location (from $10 to $40 on local currency).

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
No

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
From 1.2 Pips (As per our research) Dynamic - From 0.8 Pips
📉 SP500
Dynamic - From 58 Pips (As per our research) Dynamic - From 30 Pips
📈 GOLD
Dynamic - From 41 Pips (As per our research) Dynamic - From 26 Pips
📉 TSLA (Stock CFD)
Dynamic - From $1.04 (As per our research) N/A
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
Dynamic - From $51 (As per our research) Dynamic - From $100
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes Yes
📡 Reuters Feed
No No

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