CMC Markets vs OANDA Forex Broker Comparison
A head-to-head comparison of CMC Markets and OANDA across regulation, trading costs, platforms, and editorial scoring.
Score 4.5 / 5
2 bonusesFCA-regulated and LSE-listed with one of the best proprietary platforms in retail FX and CFDs.
VS
NFA- and FCA-regulated with strong US/UK coverage, transparent historical pricing, and excellent research.
Our Verdict
Too close to call0.1 pts apart
CMC Markets and OANDA are extremely closely matched with scores of 4.5/5 and 4.6/5. The right choice depends on your individual trading priorities.
Verdict by Trader Profile
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
Best for low cost trading
Recommended
CMC Markets offers tighter spreads from 0.7 pips vs 1 pips for OANDA, reducing trading costs.
Best for safety & regulation
It's a tie
Both equally suited
Both brokers show an equally strong safety profile across regulation, fund protection, and client safeguards.
Best for active traders
Recommended
CMC Markets has a cost edge: tighter spreads from 0.7 pips.
Best for platform choice
Recommended
OANDA offers more exclusive platform options: MetaTrader 5, TradingView, a proprietary platform.
Best for beginners
Recommended
OANDA edges out CMC Markets with a higher editorial score (4.6/5 vs 4.5/5), indicating a stronger overall experience for new traders.
CMC Markets vs OANDA: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.5/ 5 | 4.6/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.6 / 5 | 4.8 / 5▲ |
Fees & Spreads 30% weight | 4.4 / 5 | 4.5 / 5▲ |
Platforms & Tools 20% weight | 4.5 / 5 | 4.6 / 5▲ |
Customer Support 10% weight | 4.2 / 5 | 4.3 / 5▲ |
| Founded | 1989 | 1996 |
| Headquarters | London, United Kingdom | New York, United States |
| Min deposit | No minimum | No minimum |
| Spreads from | 0.7 pips | 1 pips |
| Commission / lot | N/A | N/A |
| Max leverage | 30:1 | 50:1 |
| Withdrawal fee | Free | Free for ACH |
| Regulators | FCA ASIC DFSA BaFin FMA | FCA CMF ASIC NFA CBI |
| Platforms | MetaTrader 4 Proprietary Web/Mobile | MetaTrader 4 MetaTrader 5 Proprietary Web/Mobile TradingView |
| Active bonuses | ||
| Visit broker | Visit CMC Markets | Visit OANDA |
CMC Markets vs OANDA Forex Broker Pros & Cons
Pros
FCA-regulated, LSE-listed
Excellent proprietary platform
MT4 also available
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
Pros
Available to US residents (NFA-registered)
Best-in-class research and economic data
No minimum deposit
MT4, MT5 and proprietary platforms
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
Cons
Inactivity fee after 12 months
No raw spread account option
Cons
Spreads slightly wider than ECN-style brokers
No copy trading
No raw spread account option
Inactivity fee applies
CMC Markets vs OANDA: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
Highlighted rows show where the two brokers differ
| Criteria | CMC Markets | OANDA |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Pass | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Pass |
| Compensation scheme (e.g. FSCS) | Pass | Pass |
| Fees & Spreads | ||
| Raw/ECN spreads available | Fail | Fail |
| No deposit fee | Pass | Pass |
| No inactivity fee | Fail | Fail |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Pass | Pass |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Pass |
| Multilingual support | Pass | Pass |
CMC Markets vs OANDA: Frequently Asked Questions
Based on our independent editorial scoring, OANDA ranks higher with a score of 4.6/5 vs 4.5/5 for CMC Markets. The best choice still depends on your individual trading needs; CMC Markets and OANDA may each suit different trader profiles.
CMC Markets offers tighter spreads starting from 0.7 pips, compared to OANDA's spreads from 1 pips. Tighter spreads lower the cost per trade, particularly valuable for high-frequency and scalping strategies.
Neither CMC Markets nor OANDA requires a minimum deposit, making both accessible regardless of starting capital.
Both CMC Markets and OANDA hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Both are considered safe. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners: both brokers offer negative balance protection. Also weigh up educational resources and customer support quality before deciding.
CMC Markets offers maximum leverage of 30:1, while OANDA offers up to 50:1. Available leverage varies by account type, instrument, and jurisdiction. Higher leverage amplifies both potential profits and losses. Always use appropriate risk management.
CMC Markets supports MetaTrader 4, Proprietary Web/Mobile and OANDA offers MetaTrader 4, MetaTrader 5, Proprietary Web/Mobile, TradingView; both support MetaTrader 4, Proprietary Web/Mobile; OANDA exclusively offers MetaTrader 5, TradingView.
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Score 4.5 / 5
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