Oanda vs CMC Markets - Fees Review included
Which broker is better Oanda or CMC Markets? Our expert assessment conducted according to TU’s own methodology showed that Oanda is one of the top brokers in the financial market with the TU Overall Score of 5.28 out of 10. CMC Markets is one of the top brokers in the financial market with the TU Overall Score of 5.98 out of 10. Find out more about TU Overall Score.
| Feature | Oanda | CMC Markets |
|---|---|---|
Overall |
4.4 |
3.9 |
5 |
4.5 |
|
4.5 |
4.4 |
|
3.5 |
4.8 |
|
Investment Instruments |
4.1 |
1 |
Platforms and Charting Tools |
4.8 |
3.4 |
Deposit and Withdrawal |
4.2 |
3.9 |
Research |
4.7 |
3.7 |
Education |
4.5 |
3.9 |
Support |
4.8 |
4.3 |
Bonuses |
4.6 |
1 |
|
|
Oanda vs CMC Markets: Pros and Cons
Olsen & Associates, also known as OANDA, is a US-registered company set up to offer a plethora of financial services to clients around the world. Its history goes as far back as 1996, and it is now under regulation in four jurisdictions. The broker has licenses from different regulators, of which the United Kingdom Financial Conduct Authority (FCA) is the major one.
CMC Markets (https://www.CMC Markets.com/en/) is one of the leading companies in Forex and CFD trading, founded in 1989. The broker is regulated by the FCA (UK Financial Conduct Authority). The company provides a wide range of trading assets, including indices, stocks, and cryptocurrencies. Solid experience in the financial services market, regulation in the UK, and segregated accounts for clients are the foundation of a high level of traders' trust. The broker also has a risk management program. CMC Markets is popular in many countries, for example, in Australia.
| Oanda | CMC Markets | |
|---|---|---|
| Overall Pros | Regulated by a range of reputable financial bodies | a wide range of assets |
| Real-time news and fundamental analysis tools | FCA-regulated broker | |
| localized and multilingual phone support | high level of security and compensation in case the company is recognized as illiquid | |
| User-friendly platform for new forex traders | ||
| Outstanding research tools | ||
| Financial information publicly available | ||
| High educational value through written content and videos | ||
| Orders get executed with no requotes | ||
| Deposit minimum as low as $1 | ||
| Overall Cons | No programs offering bonus | No direct trading, only CFDs and spread betting |
| Slow withdrawal of funds | The CMC Markets broker does not provide investment programs for clients |
Oanda vs CMC Markets: Safety and Regulation
| Regulated By: | Oanda | CMC Markets |
|---|---|---|
US Regulation |
Yes (CFTC, NFA) |
No |
FCA (Great Britain) |
Yes |
Yes |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
Yes |
No |
Other Regulators |
European Union (regulated by the MFSA), Singapore (regulated by the MAS), Canada (regulated by IIROC), Japan (regulated by FSA) |
MC Markets Germany GmbH is a company licensed and regulated by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) under registration number 154814 |
Oanda vs CMC Markets: Trading Conditions
| Trading Conditions | Oanda | CMC Markets |
|---|---|---|
Minimum Deposit |
No minimum deposit |
$0 |
Trading Platforms |
MT4, OANDA, TradingView |
MT4 |
Max Leverage (Futures) |
1-50 |
1-30 |
Supported Markets |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
Spread Betting Account, CFD Account, Corporate Account, and Demo Account |
Trading assets |
120+ |
10000+ |
Trading Accounts |
Standard, Core, and Swap-free |
Spread Betting, CFD Account, Corporate Account |
Base Account Currencies |
USD, EUR, HKD, SGD |
USD, EUR, GBP |
Oanda vs CMC Markets: Fees
Forex Trading Fees
| Fee | Oanda | CMC Markets |
|---|---|---|
Standard Account EURUSD Average Spread |
1.2 pips |
0.7 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
not offered |
Not supported |
ECN Account EUR Average Spread |
not offered |
Not supported |
CFD Trading Fees
| Fee | Oanda | CMC Markets |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread, Share CFDs: US market - 0.02 USD per share: UK market - 0.10%, Germany, Spain, France markets - 0.1% |
Non-Trading Fees
| Fee | Oanda | CMC Markets |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
$20 - just for bank transfer |
No |
Inactivity Fee |
After 12 months of inactivity, 10 units of your account’s currency denomination |
£10 per month |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Oanda vs CMC Markets: Trading Assets
| Asset Name | Oanda | CMC Markets |
|---|---|---|
Overall |
120+trading assets |
10000+ |
Forex |
Yes |
Yes (CFD) |
Stocks |
No |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
Yes (CFD) |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Oanda or CMC Markets: Investment Programs
| Asset Name | Oanda | CMC Markets |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
The CMC Markets broker does not provide investment programs for clients |
Trading Platforms: CMC Markets or Oanda
| Oanda | CMC Markets | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
Oanda |
No |
Others |
No |
No |
|
|
Oanda vs CMC Markets: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Oanda | CMC Markets |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes (not for all markets) |
No |
Crypto |
No |
No |
Oanda vs CMC Markets: Research
| Research Type | Oanda | CMC Markets |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
Oanda vs CMC Markets: Education
| Education Type | Oanda | CMC Markets |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
no |
CMC Markets vs Oanda: Support
| Support Features | Oanda | CMC Markets |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Oanda vs CMC Markets: Forex Bonuses and Promo
| Promo | Oanda | CMC Markets |
|---|---|---|
Forex Bonus |
Yes (Not for all countries) |
No |
Affiliate Program |
Yes |
Gray Label is targeted at licensed investment companies and trading account management firms. It allows you to copy the trading conditions of a broker. Cooperation is discussed individually with each partner. White Label allows the broker to use the CMC Markets network to promote the broker’s business. API Direct provides access to CFD and FX liquidity and stable prices for over 400 assets. Prime Derivatives allow counterparties to trade CFDs through the FIX API that is located in multiple data centers around the world and connected directly to the order management system. |
Other Promos |
Rebates and commission markdowns |
No |
|
|
Top 5 Reviews on CMC Markets
-
Comment
CMC Markets suits me when it comes to trading. Although I have been working with this company for a little over a year, I managed to withdraw trading profits several times. Withdrawing funds from CMC Markets is not fast because I use bank transfer. Of course, there is a fee. But the broker seems reliable, although there are some disadvantages.
-
Comment
I do not recommend that you continue working with CMC мarkets. The conditions there are not good at all. Spreads are high, swaps are crazy, and the platform operates disgustingly. Therefore, if you want to trade, trade with normal brokers. There are many of them - you can confidently take the top 10 companies from the rating and open an account there.
-
Comment
Trading on the СMC мarkets platform is a complex task. Achieving sustainable profits here requires extensive experience and skills. The broker charges high fees and sets consistently high spreads. This can make you a losing trader in the long run and the broker will take advantage of this knowing that you may end up losing. Therefore, I do not recommend that novice traders choose СMC мarkets for trading, since it is unlikely that they will be able to remain in the black for a long time.
-
Comment
I still don’t understand why CMC Markets exists? It seems to allow you to trade, explore the platform, start trading on a demo account, and even trade with real money. Naturally, there is a problem. If you lose, everything is fine, but if you win, they don’t allow you to withdraw your profits. The funny thing is that you can withdraw exactly as much as you deposited into the company. I deposited $500, which is exactly what I got back. But they don’t allow you to withdraw your profits. CMC Markets is some kind of fraud!
-
Comment
Nothing special. I’ve have seen better companies than CMC Markets, the most ordinary broker. There is nothing that makes it stand out from the line of average brokers. There are many disadvantages, so if you are already an experienced trader, you can look for another broker. It is almost impossible to earn anything here. CMC Markets may be helpful for training. But I don’t recommend transferring a lot of money here.
Top 5 Reviews on Oanda
-
Comment
I can describe OANDA as one of the most proper brokers on the currency market. It works quickly, there are no failures, and no market movements have a significant impact on it. I'm safe here.
-
Comment
OANDA is a good company and I plan to continue trading with them. I started with a demo account and then switched to a live one with a small deposit. OANDA successfully passed my tests in trading and withdrawals. I easily withdraw profits to my bank card.
-
Comment
I got acquainted with the OANDA broker online. Initially, I read reviews about it and decided to give this platform a try. If you do everything correctly, you can pass the verification process, although it does take some time. Then, the actual trading process began. The conditions at OANDA are average, so I can give this broker a decent rating.
-
Comment
The broker OANDA is licensed by reliable regulators, offers a wide range of financial services, boasts years of experience, multiple regulators, and significant awards. There is a vast selection of popular trading instruments, a very low minimum deposit, and qualified technical support. However, the OANDA website occasionally functions poorly. Overall, I currently have no major complaints about trading with this broker.
-
Comment
OANDA offers tight spreads, is licensed, and has a low entry threshold and fast withdrawals. The overall impression of working with this company is positive. I would recommend this broker. Another advantage is that OANDA's client support is excellent.
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FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.