FXOpenvs
OANDAForex Broker Comparison
FXOpen and OANDA clash over regulation breadth, costs, and platform options. The axis of tension is trust versus pricing and toolset, leaving readers weighing raw spreads, commissions, and platforms.
Our Verdict
OANDA winsby 0.4 pts
OANDA edges FXOpen on the overall editorial score, driven by stronger regulation coverage and broader platform options.
No commercial relationship. The verdict and scores are entirely editorial. No payment influences this comparison.
Key Differences
- 1FXOpen offers raw spreads.
- 2FXOpen has no inactivity fee.
- 3OANDA offers a proprietary platform.
Who should choose FXOpen vs OANDA?
Find out which broker best suits your trader profile.
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
FXOpen 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
FXOpen 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 | 4.5 / 5 | 4.8 / 5▲ |
FXOpen vs OANDA Forex Broker Pros & Cons
Pros
FCA, CySEC, and ASIC triple regulation
$3 round-turn ECN commission, one of the lowest in retail forex
Early cTrader adopter with mature integration
MT4, MT5, and cTrader all available
Client funds held in segregated accounts
FXOpen vs OANDA: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
2
FXOpen
criteria wins
2
OANDA
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | FXOpen | 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 | Fail | Pass |
| Multilingual support | Pass | Pass |
FXOpen vs OANDA: Frequently Asked Questions
The scores are close: FXOpen 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.
FXOpen 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 FXOpen requires at least $100. This makes OANDA more accessible for traders with limited starting capital.
Both FXOpen 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.
FXOpen 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.
FXOpen charges $3 per lot on commission-based accounts. Commission details for OANDA are not currently available. Check their website for up-to-date pricing.
FXOpen supports cTrader, MetaTrader 5, MetaTrader 4, while OANDA supports MetaTrader 5, Proprietary Web/Mobile, TradingView, MetaTrader 4. Both provide MetaTrader 5 and MetaTrader 4. FXOpen has exclusive access to cTrader. OANDA has exclusive access to Proprietary Web/Mobile and TradingView.
