Oanda vs FP Markets

OANDA vs FP Markets Comparison Table 2024
OANDA	FP Markets
Review 4.3	Review 4
Traders from US not accepted See available CFD brokers	Traders from US not accepted See available CFD brokers
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
4 Based on 3 OANDA customer reviews
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."
Pros
The OANDA Trade web platform serves serious day traders, with 100+ technical indicators, an economic overlay and a Dow Jones news feed OANDA recently improved its prop trading service, OANDA Labs Prop Trader, offering an 80% profit share to skilled traders The guaranteed stop loss order (GSLO) is a useful risk management tool not available at many alternatives There are no restrictions on short-term trading strategies with scalping, hedging and netting permitted OANDA has enhanced its suite of stocks, now providing exposure to over 2,200 US and European shares With 68 forex pairs and access to a premium MT4 upgrade, the broker will serve active forex traders Oversight from tier-one regulators like the FCA and ASIC makes the broker reliable and trustworthy The $0 minimum deposit will appeal to newer traders Spreads are tight and there are zero hidden fees	FP Markets offers a superb selection of tradable assets, especially since expanding its suite of commodities and supporting over 10,000 stocks. With MetaTrader, cTrader, Iress and more recently TradingView, FP Markets is one of the most accommodating brokers in terms of platform choice. FP Markets delivers fast and dependable support, available 24/5 with average response times of less than 1 minute during testing. FP Markets has a seamless onboarding experience, standing out with crypto deposits and over 10 base currencies, catering to global traders. FP Markets has integrated top-notch research tools from Trading Central and Autochartist, helping traders identify short-term opportunities based on chart patterns, indicators, and other technical factors.
Cons
The range of payment methods trail competitors, only offering a handful vs the 10+ available at alternatives like AvaTrade It's a shame that social and copy trading tools aren't supported for traders who want to explore other ways to trade High-volume day traders get limited fee rebates or perks compared to leading brands Weekend customer support and extended hours trading aren't available	While pricing in the Raw account is excellent, spreads in the Standard account trail the cheapest brokers with a 1.1-pip average spread on the EUR/USD compared to the 0.8-pip average at IC Markets. FP Markets’ Iress platform is only available to clients in Australia. It also primarily emphasizes stock trading over forex trading, and data fees can accumulate rapidly unless you're an active trader or maintain a high-balance account. FP Markets trails the best MetaTrader brokers, despite offering a Trader's Toolbox on MT4, just 130 instruments are available, limiting opportunities for serious traders, especially compared to Pepperstone with its 1,300 assets. Although Traders Hub provides rich research, notably the Daily Report, Technical Report, Market Insights, and Fundamental Analysis, it needs to widen its daily content variety and keep its forex news updated to match category leaders like IG.
Awards
Best Trading Tools winner 2021 - Online Personal Wealth Awards Awarded highest overall client satisfaction 2021 - Investment Trends US Leverage Trading Report, Margin Forex Awarded highest client satisfaction for mobile platform/app 2021 - Investment Trends US Leverage Trading Report, Margin Forex Voted Most Popular Broker 2021 - TradingView Broker Awards Voted Best Forex and CFD Broker 2021 - TradingView Broker Awards	Best Global Forex Value Broker 2023 - Global Forex Awards Best Forex Partners Programme Asia 2023 - Global Forex Awards Best Forex Broker Europe 2023 - Global Forex Awards Best Global Forex Value Broker 2022 - Global Forex Awards Best Global Forex Value Broker 2021 - Global Forex Awards
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	$40
Trading Platforms
OANDA Trade MT4 TradingView AutoChartist	Iress MT4 MT5 cTrader TradingView AutoChartist TradingCentral
Payment Methods
Credit Card Debit Card Mastercard Neteller Skrill Trustly Visa Wire Transfer	Apple Pay Bitcoin Payments Credit Card Debit Card Dragonpay FasaPay Google Wallet Mastercard Neteller Perfect Money Rapid Transfer Skrill Sticpay Visa Wire Transfer
Minimum Trade
0.01 Lots	0.01 Lots
Regulator
FCA, ASIC, KNF, MAS, CIRO, FFAJ, BVI	ASIC, CySEC, FSA, CMA
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	No
P2P Trading
No	No
Spot Trading
Yes	Yes
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
3.7	4
iOS App Rating
4.7	4
Auto Trading
Expert Advisors (EAs) on MetaTrader and OANDA API	Expert Advisors (EAs) on MetaTrader
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
Account Currencies
USD EUR GBP CAD AUD JPY CHF HKD SGD	USD EUR GBP CAD AUD NZD JPY TRY CHF HKD SGD
Stock Exchanges
Australian Securities Exchange (ASX) CAC 40 Index France DAX GER 40 Index Dow Jones Euronext FTSE UK Index Hang Seng London Stock Exchange Nasdaq Russell 2000 S&P 500	Australian Securities Exchange (ASX) Borsa Italiana CAC 40 Index France DAX GER 40 Index Dow Jones Euronext FTSE UK Index Hang Seng IBEX 35 Japan Exchange Group London Stock Exchange Nasdaq National Stock Exchange Of India New York Stock Exchange S&P 500
Commodities
Copper Corn Gold Natural Gas Oil Palladium Platinum Silver Soybeans Sugar Wheat	Aluminium Cocoa Coffee Copper Corn Cotton Gold Iron Natural Gas Oil Palladium Platinum Silver Soybeans Steel Sugar Wheat
CFD Trading
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
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
	USD
Cryptocurrency
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)
Coins
BTC ETH LTC BCH PAXG LINK UNI AAVE	ADA BCH BTC DOG DOT EOS ETH LNK LTC RPL SOL XLM
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

Review	Review