Oanda Vs. FXCM - Compare Trustworthiness, Capabilities, Fees and Legitimacy

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.

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

**The below information is provided based on FXCM EU LTD. For other FXCM entities, please go to the corresponding FXCM website for more information.

TheTradingBible.com is acting in a capacity of marketing affiliate for FXCM EU LTD.

• Forex traders of all levels (from beginner to advanced)

• Professional algorithmic traders looking to benefit from their comprehensive API offering.

• CFTC (U.S)
• NFA (U.S)
• ASIC (Australia)
• FCA (UK)
• MAS (Singapore)
• IIROC (Canada)
• FFAJ (Japan)
• BVI (British Virgin Islands)

• ASIC (Australia)
• CySec (Cyprus)
• FCA (United Kingdom)
• FSCA (South Africa)

• High trustworthiness, regulated by the best regulators in the world
• Fast, simple and professional trading platforms
• Competitive spreads in their currency pairs

• Comprehensive API offering with a variety of conditions and programming languages at no additional cost
• Proprietary platform (Trading Station)

• Extremely limited offering of assets (104)
• No ability to purchase real stocks or cryptocurrencies, only CFDs

• Lack of asset variety in their offering (over 463+ financial instruments)
• Costly spreads when compared to similar competitors

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• 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.

• Visa
• Mastercard
• Bank Transfer
• Paypal

• Visa
• Mastercard
• Bank Transfer
• Neteller
• Skrill

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.

RU, US, CA, JP, SK, BE and more.

$10 after 1 year of inactivity.

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

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