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.

Headquarters
British Virgin IslandsCyprus
Regulators
ASIC, BVIFSC, CFTC, FCA, FSA, IIROC, MAS, MFSACySEC, VFSC
Tier 1 Regulator(s)?
N/A
Owned by Public Company?
N/A
Year Established
19962010
Execution Type(s)
ECN/STP, Matched Principal BrokerECN/STP, No Dealing Desk
Minimum Deposit
$0$50
Negative Balance Protection
N/A
Trading Platform(s)
MetaTrader 4, MetaTrader 5, Proprietary platform, Trading ViewMetaTrader 4
Average Trading Cost EUR/USD
0.9 pipsN/A
Average Trading Cost GBP/USD
1.3 pipsN/A
Average Trading Cost WTI Crude Oil
$0.03 N/A
Average Trading Cost Gold
$0.30 N/A
Retail Loss Rate
78.3%N/A
Minimum Raw Spreads
0.0 pipsN/A
Minimum Standard Spreads
0.6 pipsN/A
Minimum Commission for Forex
$5.00 per round lotN/A
Islamic Account
Signals
US Persons Accepted?
Managed Accounts
Get StartedGet Started

Features and Platforms

MT4
MT5
MT4/MT5 Add-Ons
N/A
cTrader
Proprietary Platform
Automated Trading
Social/Copy Trading
N/A
DOM?
N/A
Guaranteed Stop Loss
Scalping
Hedging
One-Click Trading
N/A
OCO Orders
Interest on Margin
Get StartedGet Started

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

Currency Pairs
N/A
Cryptocurrencies
N/A
Commodities
Crude Oil
Gold
Metals
Equity Indices
Stocks (non-CFDs)
N/A
Bonds
N/A
ETFs
Options
N/A
Futures
N/A
Synthetics
N/A
Get StartedGet Started

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

Average Trading Cost EUR/USD
0.9 pipsN/A
Average Trading Cost GBP/USD
1.3 pipsN/A
Average Trading Cost WTI Crude Oil
$0.03 N/A
Average Trading Cost Gold
$0.30 N/A
Average Trading Cost Bitcoin
$62 N/A
Minimum Raw Spreads
0.0 pipsN/A
Minimum Standard Spreads
0.6 pipsN/A
Minimum Commission for Forex
$5.00 per round lotN/A
Deposit Fee
N/A
Withdrawal Fee
N/A
Inactivity Fee
$10 monhtly after 12 monthsN/A
Get StartedGet Started

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

Country of the Regulator
Australia, Canada, Japan, Malta, Singapore, United Kingdom, United States, British Virgin IslandsN/A
Name of the Regulator
ASIC, BVIFSC, CFTC, FCA, FSA, IIROC, MAS, MFSACySEC, VFSC
Regulatory License Number
Undisclosed, 0325821, 542574, C95813, 412981, 2137, CMS100122-4, SIBA/L/20/1130N/A
Regulatory Tier
1, 1, 1, 1, 1, 1, 1, 4N/A
Get StartedGet Started

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.

You might also be interested in reviewing the below broker comparisons:

Read full Oanda Review
Read full FXCC Review

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.

Most Visited Forex Broker Reviews