FXOpen vs OANDA: Which One is Better for You?


FXOpen vs OANDA, which one is better? Both brokers are often compared to each other to find which one comes out to be the better one. What many traders may not comprehend is that the best choice may differ for every one of them, and there's nothing wrong with it. To make it easier for you to decide which one is the best between FXOpen vs OANDA, here is the direct comparison:

Feature Go to FXOpen Go to OANDA

Rating

General Rating 3.83/5
3.79/5
Trustpilot 4.2/5

rated by 12 users
2.4/5

rated by 58 users

General Information

Office(s) Australia, Russian Federation, Saint Kitts, Nevis and United Kingdom British Virgin Islands, Canada, Germany, Japan, Malta, Poland, Singapore, Switzerland, United Arab Emirates, United Kingdom and United States
Regulation ASIC 412871
FCA (UK), 579202
CFTC/NFA, 0325821
FCA (UK) 54257
FSA (Japan), 1571
FSC (BVI), SIBA/L/20/1130
Kanto Local Finance Bureau (Japan), 2137
MFSA, 18.12.2020
Established 2003 1995
Minimum Deposit $1 $1
Maximum Leverage 1:500 1:50
Spread Variable Fixed
Commissions $1.50
Minimum Position 0.001 lot 0.00001 lot
Payment Apple Pay, Bitcoin, Bitcoin Cash, CashU, Credit/debit cards, DIXIPAY, Ethereum, FasaPay, IntellectMoney, Liqpay, Litecoin, Local bank transfer, Neteller, Payza, QIWI, RBK Money, Skrill, Tether (USDT), UnionPay, WebMoney, Wire transfer and Yandex.Money Credit/debit cards, Neteller, Skrill and Wire transfer
Official Website Visit FXOpen Visit OANDA

Account Variations

Segregated Account
Islamic Account
PAMM Account
Managed Account
LAMM Account
MAM Account
Forex Demo Account

Trading Requirements

Hedging
US traders are welcome
Requires sending documents via postal mail
Overnight interest rates (swaps)
Trading by telephone

Trading Features

Trading contests
Automated trading
Interest rate on funds
Bonus offers
Free education
Personal manager
Affiliate program

Trading Platforms and Complements

Mobile trading
Browser-based platform
Trading via API
One-click trading
Trailing stop
Pending orders
One-Cancels-Other (OCO) orders

Instruments Traded

Forex
CFD
Indexes
Spread betting
Gold & silver
Cryptocurrencies
Stocks
Binary options
Oil
Metals
Energies
Futures
ETF
Soft commodities
Options
Agriculture
Bonds

Customer Support

Website Languages Arabic, Chinese, English, Indonesian, Russian Chinese, English, French, German, Italian, Japanese, Korean, Portuguese, Russian, Spanish
Email Support
Call Support
Chat Support

Reviews

General Review Read FXOpen Review Read OANDA Review
User Reviews

Louise Pratcher

Jan 11 2022

I just found out that FXOpen has a forex article contest. How can one participate and how long will this contest held?

CharlesX545

Dec 31 2021

Hi, I'd like to ask about this.

is this commission-free trading a lifetime thing or is it just during seasonal promotions? If it just a seasonal promotion, how long it will last?

ask

More User Review

Chacha

Jul 22 2020

OANDA offers too little leverage limit. This isn't suitable for small capital traders.

Cooper

Jul 22 2020

From the first year until now, I trade using OANDA and still consider they are the best and most trusted broker. The lot position offered is flexible and the platform is very user-friendly. However, their spreads on Saturdays and Sundays are quite wide, so I have to trade on weekdays. A little troublesome, anyway, but I've already matched with OANDA.

More User Review

Start Trading

Open Real Account Open FXOpen Real Account Open OANDA Real Account




Which one has the better spread?

Considering that spread is a trading cost, the lower the spread, the better it is for traders. However, spread information among brokers is not easy to get, as not every broker transparently publishes their spreads data.

However, traders can still choose their ideal brokers by the type of their spreads. The most two popular types of spread are fixed and variable. The pros and cons between the two spreads can vary for every trader. In this case, FXOpen provides their pricing with Variable while OANDA offers Fixed.



FXOpen vs OANDA: Who hosts the best trading platform?

The trading platform is essential as you can't execute a trade without it. Additionally, trading platforms provide price charts and an assortment of analytical tools to help traders with their strategies.

To support their clients, FXOpen enables trading with MetaTrader 4 (Limited with 30 days of inactivity), MetaTrader 5 (Limited with 30 days of inactivity), TickTrader (Limited with 30 days of inactivity). The offer is supported with Mobile trading, Browser-based platform, Trading via API, One-click trading, Trailing stop, Pending orders, One-Cancels-Other (OCO) orders. In comparison, OANDA provides trading with Currenex Classic, Oanda Platform, NinjaTrader with the support of Pending orders.



Is FXOpen or OANDA better in providing the trading instruments?

It is widely known that forex brokers offer other trading instruments other than currency pairs. The offer gives interesting choices for traders to explore other markets that may be proven beneficial for them and to diversify their trading portfolios.

In this case, FXOpen supports trading with Forex, Gold & silver, CFD, Oil, Cryptocurrencies, while OANDA presents the ability of trading with Forex, Gold & silver, CFD, Cryptocurrencies.

In conclusion, deciding the better broker eventually comes down to your consideration. If you are an active trader, it is better to choose a broker with a variable spread that is generally lower than the fixed one. For the trading platform, MetaTrader 4 is the standard choice for every trader. But if you want to have a different experience with a more advanced platform, choose the broker that provides alternative platforms. The same goes for trading instruments; if you want to try delving into different markets, seek for a broker with more options on trading instruments.

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