FXCC versus Oanda

FXCC treats all clients equally with one account type, no minimum deposit requirement, and maximum leverage of 1:500. Traders get the core MT4 trading platform from this ECN/STP broker plus the MAM module for account management services. FXCC also provides quality research, trading signals, and a basic introduction to trading for beginner traders.

Oanda presents its proprietary trading platform alongside MT4 from its well-regulated trading environment. The 28 plugins for MT4 create one of the most cutting-edge MT4 experiences and provide an edge to traders. Live webinars, market commentary, research, and educational content for beginner traders are available but with a lesser quality than at FXCC.

We have conducted an in-depth review of FXCC and Oanda to determine which one presents the better overall choice and which traders will benefit the most at either broker.

Features and Platforms

Features & PlatformsOanda (visit site)FXCC (visit site)
Headquarter:CanadaVanuatu
Established :
19962010
Retail Loss Rate:
76.60%Undisclosed
Regulation:
Minimum Deposit:
$100$0
Demo Account:
Managed Account:
Islamic Account:
Inactivity Fee
YesNo
Deposit Fee:
NoThird-Party
Withdrawal Fee
Third-PartyYes + Third-Party
Funding Methods:
3-5 (dependent on geographic location)18
MT4:
MT5:
cTrader:
Proprietary Platform:
Automated Trading:
Social / Copy Trading:
MT4/MT5 Add-ons:
Guaranteed Stop Loss:
Negative Balance Protection:
Bonuses and Promotions:
Unique Feature One:
Excellent 28 plugin MT4 Upgrade Low trading costs
Unique Feature Two:
VPS, Autochartist, and TradingViewDaily trading signals
Broker Offers:

Noteworthy:

FXCC offers a 100% first deposit bonus, and qualifying traders get free VPS hosting. Both brokers provide corporate services, and Oanda maintains an FX payment system.

Available Markets

Available MarketsOandaFXCC
Currency Pairs:
Cryptocurrency Pairs:
Commodities and Metals:
Indices:
Equities:
Bonds:
ETFs:
Options, Futures, and Synthetics:
Maximum Retail Leverage:
Between 1:10 to 1:501:500
Maximum Pro Leverage:
1:1001:500

Forex traders get a quality choice of currency pairs of 70+ at both FXCC and Oanda. Neither broker provides equity trading, while the cryptocurrency sector remains underrepresented. Rudimentary cross-asset diversification is possible at FXCC and Oanda, primarily via commodities and index CFDs, but both remain high-quality Forex brokers at their core.

Typical Spreads and Fees

Typical Spreads & FeesOandaFXCC
Minimum Raw Spreads:
0.0 pips0.0 pips
Minimum Standard Spreads:
0.6 pips0.0 pips
Minimum Commission for Forex:
$5.00 per round lotCommission-free
Commission for Equities:
Not applicableNot applicable
Rebates:
YesNo
Execution Type:
Market Maker/ECN HybridECN/STP

While both brokers offer raw spreads of 0.0 pips, they remain commission-free at FXCC versus a $5.00 commission at Oanda. The Oanda commission ranks among the most competitive ones, but FXCC provides traders with an edge. The advantage narrows with average trading costs but it remains cheaper than Oanda plus available rebates.

Security and Trust

FXCC

Country of the RegulatorName of the RegulatorLicense Number
Cyprus
Cyprus Securities and Exchange Commission121/10
Vanuatu
Financial Services CommissionUnregulated

Oanda

Country of the RegulatorName of the RegulatorLicense Number
Canada
Investment Industry Regulatory Organization of Canada (IIROC)Undisclosed
US
US Securities and Exchange Commission (SEC)Undisclosed
UK
Financial Conduct Authority (FCA))542574
Australia
Australian Securities and Investments Commission (ASIC)412981
Japan
Japan Securities Dealers Association (JSDA) 2137
Singapore
Monetary Authority of Singapore (MAS)CMS100122-4

FXCC has fewer regulators than Oanda and caters to most international traders from its unregulated but duly registered Vanuatu subsidiary, company registration number 14576. Both provide clients with an equally secure, trustworthy trading environment and a clean track record. Segregation of client deposits from corporate funds and negative balance protection are available at FXCC and Oanda. Subsidiaries in the UK and Cyprus also have investor compensation funds.

FXCC vs OANDA – Verdict

FXCC

ProsCons
Commission-free raw spreads from 0 pips with average cost of 0.5 pipsEquity trading not available
One account type with no minimum deposits and high leverage
Quality education for beginner traders and daily trading signals
Full support for algorithmic and social

Oanda

ProsCons
Excellent 28-tool MT4 upgrade packageLimited asset selection with equities missing
Trustworthy broker with more than 25 years of experienceNo modern payment processors
Competitive pricing environment
Quality market commentary on the Oanda blog MarketPulse

FXCC and Oanda are high-quality Forex brokers with limited cross-asset exposure, with equities missing. Oanda offers a notably better MT4 trading environment with its 28-plugin upgrade, but FXCC presents an overall better product and services portfolio. It includes commission-free spreads as low as 0.0 pips, maximum leverage of 1:500, ideal for scalpers, and daily trading signals for beginners.

Read full Oanda Review
Read full FXCC Review

Which US Forex broker has the lowest spread?

FAQs

Can Oanda be trusted?

Oanda is a well-trusted and secure broker with a comprehensive regulatory environment, full compliance, and a clean record.

Is Oanda good for forex?

Oanda ranks among the leading Forex brokers due to a broad choice of currency pairs and low trading costs.

Does Oanda trade against clients?

Oanda is a market maker/ECN hybrid and takes the opposite side of trades where it acts as the direct counterparty, profiting from client losses.

Which US Forex broker has the lowest spread?

Commission-based Forex brokers usually offer the lowest spreads, starting from 0.0 pips, with FXCC an exception, as it grants it with its commission-free cost structure.

What is the minimum deposit for Oanda?

The minimum deposit for Oanda is $100.

Which Forex broker has the tightest spread?

Commission-based Forex brokers have the tightest spreads, as they generally grant access to raw market spreads free of internal mark-ups.