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

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

Oanda Vs. FXCM - Compare and Choose the Right One

Updated May 16 2022

Visit

74-89% of retail CFD accounts lose money.

Visit

74-89% 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.

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

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

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

7

Other Licenses

1

Provided by
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Financial
Licenses

Regulation

Regulated

Top-tier Licenses

2

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)
  • FCA (United Kingdom)
  • FSCA (South Africa)
The Good
  • 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)
The Bad
  • Extremely limited offering of assets (104)
  • No ability to purchase real stocks or cryptocurrencies, only CFDs
  • Lack of asset variety in their offering (over 300+ financial instruments)
  • Costly spreads when compared to similar competitors
Status
Operational Operational
Recent News
N/A N/A
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 1999 (FXCM Group)
💳 Minimum Deposit
$, €, £, - 0. €, £, $ - 50 (Varies by payment method)
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Paypal
  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • Skrill

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

💵 Account Base Currencies
9 - USD, EUR, GBP, SGD, CHF, JPY, AUD, CAD, HKD. 4 - EUR GBP, USD, CHF.
🗽 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. RU, US, CA, JP, SK and more.
📊 STP Account
No No
📊 DMA Account
No No
📊 ECN Account
Yes No
Assets
📚 Available Assets

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

CFDs on stocks, currencies, commodities, cryptocurrencies and indices

📙 Stocks
N/A 200+
📘 Currency Pairs
68 39
📗 Commodities
13 11
📕 Indices
16 15
📔 ETFs
N/A N/A
💸 Cryptocurrencies
4

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

📒 Bonds
6 N/A
📓 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 of FXCM's assets are CFDs.
Trading Experience
📈 Minimum Stock Trade Size
N/A 1 share
📉 Minimum ETFs Trade Size
N/A N/A
📈 Minimum Crypto Trade Size
Varies by crypto (Eg: 0.01 BTC) 1 unit of any cryptocurrency
📉 Minimum FX Trade Size
1 unit of any currency pair (Eg: 1 Euro, 1 Usd, 1 GBP, etc) $1000 (0.01 Lots)
📈 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
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 (Varies)
✍ Customisable Leverage
Yes No
🎲 Deleveraged Trading
No No
🎓 Demo Account
Yes Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
Yes Yes
📺 MetaTrader 5
Yes No
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes Yes
💻 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

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

💰 Deposit Fees
No No
💰 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 on bank transfer withdrawals depending on location (from $10 to $40 on local currency).

💰 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.

No
Spreads
📈 EUR/USD
Dynamic - From 0.8 Pips From 1.2 Pips (As per our research)
📉 SP500
Dynamic - From 30 Pips Dynamic - From 58 Pips (As per our research)
📈 GOLD
Dynamic - From 26 Pips Dynamic - From 41 Pips (As per our research)
📉 TSLA (Stock CFD)
N/A Dynamic - From $1.04 (As per our research)
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
Dynamic - From $100 Dynamic - From $51 (As per our research)
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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