FP Marketsvs
OANDAForex Broker Comparison
Two brokers with strong regulation and broad platform offerings face off. The tension centers on pricing, platform depth, and instrument access.
Our Verdict
Too close to call0.1 pts apart
FP Markets and OANDA are closely matched; the clearest differentiator is instrument variety, with FP Markets offering far more instruments.
No commercial relationship. The verdict and scores are entirely editorial. No payment influences this comparison.
Key Differences
- 1FP Markets offers raw spreads from 0 pips with $6/lot commission.
- 2OANDA has no raw spreads option.
- 3FP Markets allows up to 500:1 leverage; OANDA caps at 50:1.
Who should choose FP Markets vs OANDA?
Find out which broker best suits your trader profile.
Choose FP Markets if…
Choose FP Markets if you want raw spreads from 0 pips and MT4/MT5 plus cTrader.
Choose OANDA if…
Choose OANDA if you need $0 minimum deposit and strong research.
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
FP Markets offers tighter spreads from 0.00 pips vs 1.00 pips for OANDA, reducing trading costs.
Best for safety & regulation
It’s a tie
Both equally suited
FP 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▲ |
FP Markets vs OANDA Forex Broker Pros & Cons
Pros
True ECN pricing from 0.0 pips + $6 round-turn commission
Supports MT4, MT5, and cTrader, all three major platforms
IRESS platform for direct-access share CFD trading
Strong ASIC and CySEC regulation
Client funds held in segregated accounts
FP Markets vs OANDA: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
2
FP Markets
criteria wins
1
OANDA
criteria win
Highlighted rows show where the two brokers differ
| Criteria | FP 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 | Pass | Fail |
| No deposit fee | Pass | Pass |
| No inactivity fee | Pass | Fail |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Fail | 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 |
FP Markets vs OANDA: Frequently Asked Questions
The scores are close: FP Markets rates 4.5/5 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.
FP Markets starts from 0 pips, tighter than OANDA's 1 pips. Tighter spreads lower the cost per trade, which matters most for high-frequency and scalping strategies.
OANDA has no minimum deposit, while FP Markets requires at least $100. This makes OANDA more accessible for traders with limited starting capital.
Both FP Markets 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.
FP Markets lists maximum leverage of 500:1, 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.
FP Markets charges $6 per lot on commission-based accounts. Commission details for OANDA are not currently available. Check their website for up-to-date pricing.
FP Markets supports cTrader, IRESS, MetaTrader 5, TradingView, MetaTrader 4, while OANDA supports MetaTrader 5, Proprietary Web/Mobile, TradingView, MetaTrader 4. Both provide MetaTrader 5 and TradingView and MetaTrader 4. FP Markets has exclusive access to cTrader and IRESS. OANDA has exclusive access to Proprietary Web/Mobile.
