Scores, winners and data below compare these brokers as CFD/FX brokers: leveraged trading on forex, indices, commodities and crypto. Scores, winners and data below compare these brokers as stock brokers: real shares and ETFs you own outright.
Forex.com
Regulated in your country Forex.com is allowed by ASIC to onboard clients residing in Australia.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Oanda
Regulated in your country Oanda is allowed by ASIC to onboard clients residing in Australia.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Best for
What we compare A comparison of the kinds of traders Forex.com and Oanda are best suited to, based on what each one actually offers in Australia.Forex.com is better than Oanda for high-volume traders, while Oanda is better for long-term investors and futures traders. Both are a good fit for professional traders, scalpers and swing traders.
| Overall score | Forex.com 83 not offered | Oanda 81 -2 74 |
|---|---|---|
| Day trading i | ||
| Long-term investing i | ||
| Professional traders i | ||
| High-volume traders i | ||
| Scalpers i | ||
| Swing traders i | ||
| News traders i | ||
| Algo traders i | ||
| Stock traders i | ||
| Crypto traders i | ||
| Futures traders i | ||
| Options traders i |
Regulation
What we compare A comparison between the financial authorities that supervise Forex.com and the ones that supervise Oanda.Forex.com and Oanda are both regulated in Australia, by ASIC.
| Section score | Forex.com 100 not offered | Oanda 100 100 |
|---|---|---|
| Tier-1 regulators | ||
| ESMA (European Union) i | ||
| FCA (United Kingdom) i | ||
| ASIC (Australia) i | ||
| CFTC (United States) i | ||
| NFA (United States) i | ||
| SEC (United States) i | ||
| CIRO (Canada) i | ||
| MAS (Singapore) i | ||
| SFC (Hong Kong) i | ||
| JFSA (Japan) i | ||
| FINMA (Switzerland) i | ||
| Tier-2 regulators | ||
| FMA (New Zealand) i | ||
| CBR (Russia) i | ||
| FSCA (South Africa) i | ||
| DFSA (Dubai) i | ||
| CSRC (China) i | ||
| ISA (Israel) i | ||
| LFSA (Malaysia) i | ||
| JSC (Jordan) i | ||
| CMA (Kenya) i | ||
| Tier-3 regulators | ||
| FSA (Seychelles) i | ||
| MMA (Maldives) i | ||
| SCB (Bahamas) i | ||
| FSC (Mauritius) i | ||
| VFSC (Vanuatu) i | ||
| FSC (Belize) i | ||
| CIMA (Cayman Islands) i | ||
| SV FSA (Saint Vincent and the Grenadines) i | ||
| FSRC (St. Kitts & Nevis) i | ||
| BMA (Bermuda) i | ||
| BVI FSC (British Virgin Islands) i | ||
| EDR (External Dispute Resolution) i | ||
Safety
What we compare A comparison of the tools and services that Forex.com and Oanda have in place to protect your money in Australia.Forex.com and Oanda both offer segregated client funds and two-factor authentication.
| Section score | Forex.com 73 Best not offered | Oanda 66 -7 66 |
|---|---|---|
| Company info | ||
| Is it publicly traded i | ||
| Is it a bank i | ||
| Year founded i | 1999 | 1996 |
| Parent company i | StoneX Group Inc. | OANDA Group |
| CEO i | Glenn Stevens | Gavin Bambury |
| Money safety | ||
| Segregated client funds i | ||
| Two-factor authentication i | ||
| Investor compensation scheme i | ||
| Additional money insurance i | ||
| Partner bank i | N/A | mBank |
| Brand power | ||
| Number of customers worldwide i | 1,000,000 | |
| Annual revenue i | US$169,500,000 | US$16,900,000 |
| Monthly website search traffic i | 1.9M monthly visits | |
Costs
What we compare A comparison of what it costs to trade with Forex.com and with Oanda in Australia, both on each trade and on holding the account.Forex.com is better than Oanda for CFD/FX costs, since Forex.com has tighter EUR/USD standard spreads, at 0.8 pips (against Oanda's 1.07 pips), has tighter gold CFD spreads, at 0.3 points (against Oanda's 0.52 points), and charges lower Bitcoin CFD fees, at US$35 (against Oanda's US$43.85). Neither Forex.com nor Oanda charges account maintenance fees or deposit fees.
Only Oanda can be assessed for real stock costs, since Forex.com is a CFD broker and does not offer real stocks.
| Section score | Forex.com 71 Best not offered | Oanda 66 -5 29 |
|---|---|---|
| Broker fees | ||
| Deposit fees i | ||
| Withdrawal fees i | ||
| Overnight fees i | ||
| Inactivity fees i | ||
| Currency conversion fees i | ||
| Discounts on volume i | ||
| Real time market data fee i | ||
| Dividend withholding i | ||
| Account opening fees i | ||
| Account maintenance fee i | ||
| Portfolio management fee i | ||
| Fees on CFDs | ||
| Forex commission per lot i | US$5 | US$3 |
| EUR/USD average standard spread i | ||
| EUR/USD average raw spread i | ||
| EUR/USD average fixed spread i | ||
| EUR/USD total cost per lot i | US$7.5 | US$7.35 |
| S&P 500 fees (CFD) i | 0.6 points | 0.39 points |
| Gold fees (CFD) i | 0.3 points | 0.52 points |
| Bitcoin fees (CFD) i | US$35 | US$43.85 |
| US stocks fees (CFD) i | US$0.02 | US$0.06 |
| Fees on stocks | ||
| Stock fee type i | Commission, Percentage | Percentage |
| US stocks fees (real) i | ||
| ETF fees (real) i | ||
| Management costs i | ||
| Connection costs i | ||
| Fees on futures | ||
| Futures fees per contract i | ||
| Platform fees i | ||
| Fees on options | ||
| Options fees per contract i | ||
| Event fees i | ||
| Fees on savings plans | ||
| IRA opening fee i | ||
| IRA maintenance fee i | ||
| 401k opening fee i | ||
| 401k maintenance fee i | ||
Available markets
What we compare A comparison of the markets and products you can trade with Forex.com and with Oanda in Australia, and of how many instruments each one gives access to.Oanda is better than Forex.com for CFD/FX markets, as Oanda lets you own stocks and ETFs outright, which Forex.com does not, and offers futures on crypto and forex, which Forex.com does not. Both Forex.com and Oanda offer CFDs on commodities, crypto, forex, indices and stocks.
Oanda and Forex.com cannot be compared for real stock markets, because Oanda is a broker offering both CFDs and stocks while Forex.com is a CFD broker.
| Section score | Forex.com 85 -15 not offered | Oanda 100 Best 60 |
|---|---|---|
| Total tradable symbols i | 6,300 | 1,400 |
| Currency pairs i | ||
| Indices i | ||
| Commodities i | ||
| Stocks i | ||
| ETF i | ||
| Cryptocurrencies i | ||
| Bonds i | ||
| Interest rates i | ||
| Portfolios i | ||
| CFDs i | Commodities, Crypto, Forex, Indices, Stocks | Commodities, Crypto, Forex, Indices, Stocks |
| Futures i | Crypto, Forex | |
| Options i | ||
| Assets you can own i | Stocks, ETF |
Platform
What we compare A comparison of the trading platforms that Forex.com and Oanda make available to their clients in Australia.Forex.com and Oanda are equally good for platforms, as Forex.com offers social trading. On the other hand, Oanda offers MetaTrader 5 and TradingView. Forex.com and Oanda both offer a proprietary platform and MetaTrader 4.
Oanda and Forex.com cannot be compared for platforms, because Oanda is a broker offering both CFDs and stocks while Forex.com is a CFD broker.
| Section score | Forex.com 89 -2 not offered | Oanda 91 91 |
|---|---|---|
| Proprietary platform i | ||
| MetaTrader 4 i | ||
| MetaTrader 5 i | ||
| cTrader i | ||
| Social trading platform i | ||
| Copy trading platform i | ||
| ZuluTrade i | ||
| TradingView i | ||
| Duplitrade i | ||
| Mirror Trader i | ||
| NinjaTrader i | ||
| AutoChartist i | ||
| Real time pricing i | ||
| 5 digit pricing i | ||
| One-click trading i |
Mobile
What we compare A comparison of the mobile apps of Forex.com and Oanda in Australia, and of what each one lets you do from your phone.Oanda is better than Forex.com for mobile trading, since Oanda offers the MetaTrader 5 app and mobile trading signals, which Forex.com does not. Both Forex.com and Oanda offer a proprietary mobile app and the MetaTrader 4 app.
Only Oanda can be assessed for mobile trading, since Forex.com is a CFD broker and does not offer real stocks.
| Section score | Forex.com 86 -7 not offered | Oanda 93 Best 93 |
|---|---|---|
| Proprietary app i | ||
| Social trading app i | ||
| Copy trading app i | ||
| MetaTrader 4 app i | ||
| MetaTrader 5 app i | ||
| cTrader app i | ||
| Mobile trading signals i | ||
| Mobile alerts i | ||
| Mobile charting tools i | ||
| Mobile drawing tools i | ||
| Mobile watchlist i | ||
| Smartwatch app i |
Trading features
What we compare A comparison of the trading tools and strategies that Forex.com and Oanda allow on their platforms in Australia.There is little between Forex.com and Oanda on CFD/FX trading features, as both offer negative balance protection and trailing stops. Oanda has a slight edge, as it offers tier-1 liquidity providers.
There is no like-for-like comparison for real stock trading features, as Forex.com is a CFD broker and does not offer real stocks.
| Section score | Forex.com 96 not offered | Oanda 96 92 |
|---|---|---|
| Trade execution | ||
| Broker type i | Agency | Agency |
| Average execution time i | 2 ms | |
| Slippage occurrence i | ||
| Requotes occurrence i | ||
| Tier-1 liquidity providers i | ||
| PFOF i | ||
| Leverage | ||
| Major FX pairs leverage i | 30:1 | 30:1 |
| Minor/Exotic FX pairs leverage i | 20:1 | 20:1 |
| Major indices leverage i | 20:1 | 20:1 |
| Minor indices leverage i | 10:1 | 10:1 |
| Gold leverage i | 20:1 | 20:1 |
| Commodities leverage i | 10:1 | 10:1 |
| Equities leverage i | 5:1 | 5:1 |
| Cryptocurrency leverage i | 2:1 | 2:1 |
| Risk management | ||
| Stop losses i | ||
| Take profits i | ||
| Limit orders i | ||
| Trailing stop i | ||
| Margin call i | ||
| OCO orders i | ||
| Guaranteed stop loss i | ||
| Negative balance protection i | ||
| Minimum trade size (FX) i | 0.01 lots | 0.01 lots |
| Minimum trade size (stocks) i | US$1 | US$0 |
| Fractional stocks i | ||
| Trading compliance | ||
| Scalping strategies allowed i | ||
| Hedging strategies allowed i | ||
| Automated trading strategy allowed i | ||
| EAs use allowed i | ||
| HFT strategy allowed i | ||
| VPS use allowed i | ||
| API use allowed i | ||
| Price scraping allowed i | ||
| FIFO rule applies i | ||
Account types
What we compare A comparison of the kinds of account you can open at Forex.com and at Oanda in Australia, and of who each one is meant for.Oanda is better than Forex.com for CFD/FX account types, as Oanda offers a corporate account, which Forex.com does not. Forex.com and Oanda both offer a demo account and a professional traders account.
Forex.com does not offer real stocks, being a CFD broker, so Oanda and Forex.com cannot be compared for real stock account types.
| Section score | Forex.com 39 -7 not offered | Oanda 46 Best 34 |
|---|---|---|
| Demo account i | ||
| Unlimited demo account i | ||
| Standard account i | ||
| Micro account i | ||
| Cent account i | ||
| Nano account i | ||
| Raw spread account i | ||
| ECN account i | ||
| Swap-free account i | ||
| Islamic account i | ||
| Professional traders account i | ||
| Fixed spread account i | ||
| Spread betting account i | ||
| Copy trading account i | ||
| Corporate account i | ||
| Managed account i | ||
| Stock investing account i | ||
| Margin investing account i | ||
| Savings account i | ||
| Retirement account i |
Account opening
What we compare A comparison of what it takes to open and fund an account with Forex.com and with Oanda in Australia.Forex.com and Oanda are equally good for account opening, as Forex.com offers 12 account base currencies (against Oanda's 9). On the other hand, Oanda does not require a minimum deposit (against Forex.com's US$106), and credits deposits faster, within 1 day (against Forex.com's 2 days). Forex.com and Oanda both offer credit cards and debit cards.
Only Oanda can be assessed for account opening, since Forex.com is a CFD broker and does not offer real stocks.
| Section score | Forex.com 75 not offered | Oanda 75 75 |
|---|---|---|
| Minimum deposit i | US$106 | US$0 |
| Minimum withdrawal i | US$0 | US$0 |
| Wire transfers i | ||
| Credit cards i | ||
| Debit cards i | ||
| eWallets i | ||
| Local payment methods i | ||
| Account base currencies i | AUD, CAD, CHF, EUR, GBP, HKD, HUF, JPY, NZD, PLN, SGD, USD | AUD, CAD, CHF, EUR, GBP, HKD, JPY, SGD, USD |
| Deposit waiting time i | up to 2 business days | up to 1 business days |
| Withdrawal waiting time i | up to 3 business days | up to 3 business days |
| Bonus program i |
Customer care
What we compare A comparison of the customer support of Forex.com and Oanda in Australia, in how it can be reached and how fast it answers.Forex.com is better than Oanda for customer care, because Forex.com offers a dedicated account manager and priority support, which Oanda does not. Both Forex.com and Oanda offer phone support and live chat.
There is no like-for-like comparison for customer care, as Forex.com is a CFD broker and does not offer real stocks.
| Section score | Forex.com 71 Best not offered | Oanda 51 -20 51 |
|---|---|---|
| Number of languages supported i | 7 | 7 |
| Website languages i | Arabic, German, English, Japanese, Polish, Spanish, Chinese | German, English, French, Italian, Russian, Spanish, Chinese |
| Website available in English i | ||
| Customer support languages i | English | German, English, Russian, Spanish, Chinese |
| Customer support in English i | ||
| Call back request i | ||
| Email support i | ||
| Phone support i | ||
| Live chat i | ||
| Priority customer support i | ||
| Dedicated account manager i | ||
| Cash sweep i | ||
| Stock lending i | ||
| Distributes proceeds i | ||
| Tax withholding agent i | ||
| Tax assistance i |
Learning
What we compare A comparison of the educational material that Forex.com and Oanda provide to their clients in Australia.Forex.com is better than Oanda for learning, given that Forex.com offers professional reports and daily market commentary, which Oanda does not. Forex.com and Oanda both offer education for advanced traders and webinars.
Only Oanda can be assessed for learning, since Forex.com is a CFD broker and does not offer real stocks.
| Section score | Forex.com 95 Best not offered | Oanda 80 -15 80 |
|---|---|---|
| Education | ||
| Education center i | ||
| Education for beginners i | ||
| Education for advanced traders i | ||
| Webinars i | ||
| Tutorials i | ||
| Glossary i | ||
| Research | ||
| Economic calendar i | ||
| Traders' sentiment i | ||
| Daily market commentary i | ||
| Daily trading ideas i | ||
| News via social media i | ||
| Professional reports i | ||
| Watchlist i | ||
Forex.com vs Oanda: which one should you choose?
Forex.com
CFD/FX Choose Forex.com if you want a CFD and forex broker with fast order execution, fixed-spread accounts and a wide choice of markets.
Open Account CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Oanda
CFD/FX Choose Oanda if you want an online CFD broker with no minimum deposit, MetaTrader 5 and TradingView.
Stocks Choose Oanda if you want a broker for securities investing with retirement accounts and TradingView.
Open Account CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.Other popular comparisons
Below are other head-to-head comparisons that include Forex.com or Oanda, each scored with the same data and method as this page.
