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OANDA
Doesn't accept traders from US. See available forex brokers
Not available in your countryRead OANDA review
Rating breakdown
- Regulation & trust4.41.1 higher than FP Markets (3.3)
- Assets & markets3.40.6 lower than FP Markets (4.0)
- Fees & costs3.50.6 lower than FP Markets (4.1)
- Platforms & tools3.30.7 lower than FP Markets (4.0)
- Accounts & banking3.50.3 lower than FP Markets (3.8)
- Education4.30.8 higher than FP Markets (3.5)
- Research3.80.3 higher than FP Markets (3.5)
- Customer support4.50.8 higher than FP Markets (3.7)
FP Markets’s score. Numbers show the difference.
FP Markets
Doesn't accept traders from US. See available forex brokers
Not available in your countryRead FP Markets review
Rating breakdown
- Regulation & trust3.31.1 lower than OANDA (4.4)
- Assets & markets4.00.6 higher than OANDA (3.4)
- Fees & costs4.10.6 higher than OANDA (3.5)
- Platforms & tools4.00.7 higher than OANDA (3.3)
- Accounts & banking3.80.3 higher than OANDA (3.5)
- Education3.50.8 lower than OANDA (4.3)
- Research3.50.3 lower than OANDA (3.8)
- Customer support3.70.8 lower than OANDA (4.5)
OANDA’s score. Numbers show the difference.
| OANDA | FP Markets | |
|---|---|---|
| Overview | OANDA is an award-winning global broker, established in 1996. The hugely respected brand offers competitive trading accounts and serves clients from 196 countries. It remains a popular option with both beginners and experienced traders thanks to its user-friendly and sophisticated web platform, no minimum deposit and premium currency products and services. The company is also overseen by reputable regulators, including the FCA, ASIC and CIRO. | Established in 2005 in Australia, FP Markets is an ASIC- and CySEC-regulated broker boasting an extensive suite of tradable assets. Its Standard and Raw accounts cater to day traders at every level, while it packs a punch in the tooling department, from the MetaTrader suite and intuitive TradingView to actionable trading ideas from Trading Central and AutoChartist. |
| Customer Reviews | Based on 3 customer reviews | Based on 1 customer reviews |
| Trustpilot Score | – | |
| Comment by Reviewer | “OANDA will serve day traders looking for a trustworthy broker with a beginner-friendly platform, superb research and straightforward account opening. The $0 minimum deposit and excellent customer support makes it especially attractive to newer traders.” | “FP Markets strikes an ideal balance between affordability and quality for active traders. They’ve managed to keep trading costs low while expanding their investment offering, charting tools, and research features, all while providing excellent support you can rely on for urgent trading queries.” |
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| Instruments | CFDs, Forex, Stocks, Indices, Commodities, Crypto, Bonds, ETFs, Spread Betting | CFDs, Forex, Stocks, Indices, Commodities, Bonds, ETFs, Crypto |
| Demo Account | Yes | Yes |
| Minimum Deposit | $0 | $0 |
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| Minimum Trade | 0.01 Lots | 0.01 Lots |
| Regulator | FCA, CIRO, ASIC, MAS, JFSA, KNF, BVI FSC | ASIC, CySEC, FSA, FSCA, FSC, SCB, CMA-Kenya |
| Margin Trading | Yes | Yes |
| Margin Rate | 2% | – |
| STP Account | No | Yes |
| ECN Account | No | Yes |
| DMA Account | No | Yes |
| MAM Account | No | Yes |
| PAMM Account | No | Yes |
| LAMM Account | No | No |
| Demat Account | No | No |
| AI / Machine Learning | No | No |
| Robo Advisor | No | No |
| Negative Balance Protection | Yes | Yes |
| Market Maker | Yes | Yes |
| P2P Trading | No | No |
| Spot Trading | Yes | No |
| Mobile Apps | OANDA Trade, MT4 | iOS & Android |
| App Review | – | FP Markets does not provide a proprietary web-based or mobile app, a downside for beginners. However, there are the mobile versions of MT4/MT5, cTrader, and TradingView that offer real-time quotes, advanced charting tools, account management features, and order execution. Australian clients are also exclusively offered access to the Iress mobile platform, which delivers sophisticated features including analytics, module linking, and multiple portfolio management. |
| Android App Rating | ||
| iOS App Rating | ||
| Auto Trading | Expert Advisors (EAs) on MetaTrader and OANDA API | Expert Advisors (EAs) on MetaTrader, cBots on cTrader |
| Copy Trading | No | Yes |
| Copy Trading Platform | – | FP Markets introduced a proprietary social copy trading platform, alongside access to the MetaTrader signals market. These offerings, coupled with support for Myfxbook, establish FP Markets as an excellent option for social copy trading, even if the system is less intuitive compared to cTrader Copy. |
| Social Trading | No | Yes |
| VPS Hosting | No | Yes |
| Tournaments | No | No |
| Demo Competitions | No | No |
| Ethical Investing | No | No |
| Custodial Account | No | No |
| Guaranteed Stop Loss | Yes | No |
| Inactivity Fee | $10 | $0 |
| Islamic Account | No | Yes |
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| CFD Trading | ||
| Overview | You can speculate on popular financial assets covering forex, commodities, indices, metals and bonds. You can get started with $0 minimum deposit, making the broker a good pick for beginners. There’s also over 130 technical indicators available collectively in the MT4 and OANDA Trade platforms. | FP Markets offers CFD trading on a first-rate selection of financial markets, spanning stocks, major global indices, commodities, metals, cryptocurrencies, and bonds. With tight spreads, fast execution speeds, leverage up to 1:500 and top-tier liquidity, short-term traders get an efficient and seamless trading experience. |
| Leverage | 1:200 | 1:30 (UK), 1:500 (Global) |
| FTSE Spread | 1.0 | 1.64 |
| GBPUSD Spread | 1.4 | 1.9 average |
| Oil Spread | 3.0 | 0.04 |
| Stocks Spread | 12 (Apple Inc) | Variable |
| Forex Trading | ||
| Overview | OANDA offers 68 currency pairs, which is above the industry average. You can speculate on majors, minors and exotics, with spreads from 0.8 pips on popular pairs. There are no commissions and leverage is available up to 1:200. Average execution speeds are fast based on tests, at 12 milliseconds. | FP Markets stands out as an excellent option for forex traders, boasting a selection of over 70 currency pairs covering a wide range of currencies, especially since expanding its choice of exotics. With average spreads of just 0.1 on the EUR/USD in its Raw account, the broker provides competitive pricing for day traders. |
| GBPUSD Spread | 1.4 | 0.2 |
| EURUSD Spread | 0.8 | 0.1 |
| EURGBP Spread | 0.9 | 0.3 |
| Assets | 68 | 70+ |
| Currency Indices | – |
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| Cryptocurrency | ||
| Overview | OANDA offers trading on leading cryptocurrencies, including Bitcoin. You can place trades in the app hassle-free and practice in the unlimited demo account. The broker offers guaranteed stop-loss orders to help protect you against crypto market volatility. | FP Markets supports CFDs on popular cryptos including Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin. Yet while you can speculate on price movements through CFDs, direct ownership of coins is not supported. FP Markets also doesn’t add up-and-coming tokens for crypto enthusiasts on the pulse. |
| Spread | $100 | 17.3 (Bitcoin) |
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| Crypto Lending | No | No |
| Crypto Mining | No | No |
| Crypto Staking | No | No |
| Auto Market Maker | No | No |
Not available in your countryRead OANDA review
Not available in your countryRead FP Markets review