Forex.comvs
OANDAForex Broker Comparison
In this comparison, two regulation-forward brokers contend on pricing, toolsets, and breadth of offerings. The tension centers on raw spreads and research depth across platforms.
Our Verdict
OANDA winsby 0.4 pts
OANDA edges Forex.com on the editorial score, scoring 4.6 versus 4.2. Its higher category scores across trust, fees, and platforms underpin the edge.
No commercial relationship. The verdict and scores are entirely editorial. No payment influences this comparison.
Key Differences
- 1Forex.com offers a raw spread account with a $7/lot round-turn commission
- 2OANDA has no raw spread option
- 3Forex.com provides access to 400 instruments versus OANDA’s 70
Who should choose Forex.com vs OANDA?
Find out which broker best suits your trader profile.
Choose Forex.com if…
You can open a raw spread account with a $7/lot round-turn commission, and Forex.com accepts US retail forex clients, and provides access to 400 instruments, along with MT4, MT5 and a proprietary web/mobile platform for flexible trading. You can start with no minimum deposit, and you gain access to TradingView alongside MT4, MT5 and the proprietary platform, backed by strong regulation from NFA, FCA and ASIC and supported by leading research resources.
Choose if…
You can open a raw spread account with a $7/lot round-turn commission, and Forex.com accepts US retail forex clients, and provides access to 400 instruments, along with MT4, MT5 and a proprietary web/mobile platform for flexible trading. You can start with no minimum deposit, and you gain access to TradingView alongside MT4, MT5 and the proprietary platform, backed by strong regulation from NFA, FCA and ASIC and supported by leading research resources.
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
It’s a tie
Both equally suited
Both brokers offer spreads from 1.00 pips.
Best for safety & regulation
Forex.com vs OANDA: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.2/ 5 | 4.6/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.3 / 5 | 4.8 / 5▲ |
Forex.com vs OANDA Forex Broker Pros & Cons
Pros
One of the few brokers accepting US retail forex clients
Deep research tools including macro analysis
Raw spread account with competitive $7 round-turn commission
MT4, MT5 and proprietary platforms
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Forex.com vs OANDA: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
1
Forex.com
criteria win
0
OANDA
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | Forex.com | 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 | Pass | 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 |
Forex.com vs OANDA: Frequently Asked Questions
The scores are close: Forex.com rates 4.2/5 and OANDA rates 4.6/5. OANDA has a marginal edge in our scoring, but the difference is small enough that your specific priorities — fees, platforms, or regulatory jurisdiction — should guide the final choice.
Both Forex.com and OANDA start from 1 pips, making them equivalent on this metric. Compare commissions and account types to evaluate total trading costs.
OANDA has no minimum deposit, while Forex.com requires at least $100. This makes OANDA more accessible for traders with limited starting capital.
Both Forex.com and OANDA hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners, two factors stand out: OANDA has no minimum deposit, removing the capital barrier entirely, and both brokers provide negative balance protection. Also compare demo account availability and educational resources before deciding.
Forex.com lists maximum leverage of 50:1, while OANDA lists up to 50:1. Available leverage depends on your jurisdiction. EU retail clients under ESMA rules are capped at 1:30 on major forex pairs.
Forex.com charges $7 per lot on commission-based accounts. Commission details for OANDA are not currently available. Check their website for up-to-date pricing.
Forex.com supports MetaTrader 5, Proprietary Web/Mobile, MetaTrader 4, while OANDA supports MetaTrader 5, Proprietary Web/Mobile, TradingView, MetaTrader 4. Both provide MetaTrader 5 and Proprietary Web/Mobile and MetaTrader 4. OANDA has exclusive access to TradingView.
