Oanda
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78.3% of retail CFD accounts lose money.

Vs.

FP Markets
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74.34% of retail CFD accounts lose money.

Oanda Vs. FP Markets - Compare and Choose the Right One

Updated Sep 14 2022

Visit

78.3% of retail CFD accounts lose money.

Visit

74.34% of retail CFD accounts lose money.

Overview

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.

FP Markets is a leading Australian broker with a 10,000+ asset offering accompanied by a great variety of tech options such as deploying your own VPS and accessing ENC / DMA pricing.

Best For
  • Forex traders of all levels (from beginner to advanced)
  • Professional traders looking for DMA pricing on their stocks
  • Professional traders looking to set up a dedicated VPS
  • High volume share traders that benefit from DMA pricing
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

7

Other Licenses

1

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

1

Other Licenses

2

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • CFTC (U.S)
  • NFA (U.S)
  • ASIC (Australia)
  • FCA (UK)
  • MAS (Singapore)
  • IIROC (Canada)
  • FFAJ (Japan)
  • BVI (British Virgin Islands)
  • ASIC (Australia)
  • CySec (Cyprus)
  • FSA (St. Vincent and the Grenadines)
The Good
  • High trustworthiness, regulated by the best regulators in the world
  • Fast, simple and professional trading platforms
  • Competitive spreads in their currency pairs
  • Customisable or removable leverage
  • Broad asset offering (10,000 +)
  • Competitive forex commissions
The Bad
  • Extremely limited offering of assets (104)
  • No ability to purchase real stocks or cryptocurrencies, only CFDs
  • No ETFs are offered
  • Stock trading commissions are expensive when compared to similar brokers
  • Website is slow and confusing
  • Fees for the majority of deposit and withdrawal methods
Status
Operational Operational
Recent News

No fresh news at the moment. Check again soon!

No fresh news at the moment. Check again soon!

Key Data
⌛ Account Opening Time
1 day minimum (may take longer) 1 Day
📋 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.

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

  • 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.

📍 Year Founded
1996 2005
💳 Minimum Deposit
$, €, £, - 0. $100
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Paypal
  • Visa
  • Mastercard
  • Bank Transfer
  • Paypal
  • Neteller
  • Skrill
  • FasaPay
  • PayTrust
  • China Union Pay
  • Bpay
  • Broker to broker
  • Sticpay
  • Plusdebit
  • Rupee Payments
  • Dragonpay
  • Perfect Money
  • Paylivre
  • Rapyd
  • Finrax
  • Fairpay
💵 Account Base Currencies
9 - USD, EUR, GBP, SGD, CHF, JPY, AUD, CAD, HKD. 10 - USD, GBP, EUR, AUD, CHF, JPY, HKD, CAD, SGD, NZD.
🗽 Available to U.S Citizens
Yes No
❌ Restricted Countries
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. US, JP, BE, NZ, SY.
📊 STP Account
No Yes
📊 DMA Account
No Yes
📊 ECN Account
Yes Yes
Assets
📚 Available Assets

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

CFDs on stocks, currencies, commodities, cryptocurrencies and indices

📙 Stocks
N/A 10,000 +
📘 Currency Pairs
68 63
📗 Commodities
13 15
📕 Indices
16 17
📔 ETFs
N/A 295
💸 Cryptocurrencies
4 11
📒 Bonds
6 2
📓 Options
N/A N/A
📗 Futures
N/A N/A
📝 Notes:

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.

All FPMarkets assets are CFDs.
Trading Experience
📈 Minimum Stock Trade Size
N/A Varies by Stock
📉 Minimum ETFs Trade Size
N/A N/A
📈 Minimum Crypto Trade Size
Varies by crypto (Eg: 0.01 BTC) Varies by Cryptocurrency (Eg: 0.01 BTC)
📉 Minimum FX Trade Size
1 unit of any currency pair (Eg: 1 Euro, 1 Usd, 1 GBP, etc) $1,000 - 0.01 Lots
📈 Minimum Commodities Trade Size
Varies by Commodity (Eg: 1 Troy ounce of Gold) Varies by Commodity (Eg: 0.01 Troy ounces of Gold)
📉 Minimum Bonds Trade Size
1 unit of any Bond contract N/A
📈 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 1:100 Up to 1:500
✍ Customisable Leverage
Yes Yes
🎲 Deleveraged Trading
No Yes
🎓 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 No
💻 Proprietary Platform
Yes Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
No Yes
👫 Social Trading
No Yes
🔑 Guaranteed Stop-loss
Yes No
🔨 Trailing Stop-loss
Yes Yes
Fees
💰 Inactivity Fee
Yes, $10 after 1 year of inactivity No
💰 Deposit Fees
No Yes depending on method (Eg: Not for credit cards)
💰 Withdrawal Fees

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.

Yes depending on method (Eg: Not for credit cards)
💰 Commissions

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.

Commissions vary as follows:

  • Standard account has none
  • Raw account has a $3 per lot commission
  • For IRESS accounts there are various commission structures ranging from 0.1% to 0.08% with a minimum $10 charge.
Spreads
📈 EUR/USD
Dynamic - From 0.8 Pips Dynamic - From 0 to 1.2 Pips
📉 SP500
Dynamic - From 30 Pips Dynamic - From 40 to 60 Pips
📈 GOLD
Dynamic - From 26 Pips Dynamic - From 0 to 31 Pips
📉 TSLA (Stock CFD)
N/A Dynamic - Market Spread
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
Dynamic - From $100 Dynamic - From $9 to $21
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes No
📡 Reuters Feed
No No