Oanda vs FXCC - Fees Review included
Which broker is better Oanda or FXCC? 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. FXCC is one of the top brokers in the financial market with the TU Overall Score of 5.84 out of 10. Find out more about TU Overall Score.
| Feature | Oanda | FXCC |
|---|---|---|
Overall |
4.4 |
3.9 |
5 |
4.3 |
|
4.5 |
4.5 |
|
3.5 |
2.5 |
|
Investment Instruments |
4.1 |
1 |
Platforms and Charting Tools |
4.8 |
3.9 |
Deposit and Withdrawal |
4.2 |
4.5 |
Research |
4.7 |
2.6 |
Education |
4.5 |
3.7 |
Support |
4.8 |
4.5 |
Bonuses |
4.6 |
4.5 |
|
|
|
Oanda vs FXCC: 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.
FXCC was founded in 2010 and is headquartered in Cyprus. Broker specialized in ECN/STP technology with competitive spreads. The activity of this broker is regulated by CySEC.
| Oanda | FXCC | |
|---|---|---|
| Overall Pros | Regulated by a range of reputable financial bodies | Tight spread ECN account |
| Real-time news and fundamental analysis tools | 3 ECN accounts | |
| localized and multilingual phone support | 100% First Deposit Bonus | |
| 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 | Limited choice of trading assets |
| Slow withdrawal of funds | Not everage spread info on the web site |
Oanda vs FXCC: Safety and Regulation
| Regulated By: | Oanda | FXCC |
|---|---|---|
US Regulation |
Yes (CFTC, NFA) |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
No |
Yes |
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) |
Republic of Vanuatu with registration number 14576 |
Oanda vs FXCC: Trading Conditions
| Trading Conditions | Oanda | FXCC |
|---|---|---|
Minimum Deposit |
No minimum deposit |
$100 |
Trading Platforms |
MT4, OANDA, TradingView |
MetaTrader4, Mobile Platforms |
Max Leverage (Futures) |
1-50 |
1-300 |
Supported Markets |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
Forex, Crypto, Metals, Indices, Bonds, Commodities, Energy, Shares |
Trading assets |
120+ |
100+ |
Trading Accounts |
Standard, Core, and Swap-free |
ECN Standard Account, ECN XL Account, ECN Advanced Account |
Base Account Currencies |
USD, EUR, HKD, SGD |
EUR, USD, GBP |
Oanda vs FXCC: Fees
Forex Trading Fees
| Fee | Oanda | FXCC |
|---|---|---|
Standard Account EURUSD Average Spread |
1.2 pips |
1.5 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
not offered |
ECN XL $0 |
ECN Account EUR Average Spread |
not offered |
ECN XL 0.2 pips |
CFD Trading Fees
| Fee | Oanda | FXCC |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | Oanda | FXCC |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
$20 - just for bank transfer |
$35 for a bank transfer |
Inactivity Fee |
After 12 months of inactivity, 10 units of your account’s currency denomination |
Yes |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Oanda vs FXCC: Trading Assets
| Asset Name | Oanda | FXCC |
|---|---|---|
Overall |
120+trading assets |
100+ |
Forex |
Yes |
Yes |
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 |
No |
Bonds |
No |
Yes (CFD) |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Oanda or FXCC: Investment Programs
| Asset Name | Oanda | FXCC |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: FXCC or Oanda
| Oanda | FXCC | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
Oanda |
No |
Others |
No |
No |
|
|
|
Oanda vs FXCC: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Oanda | FXCC |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes (not for all markets) |
Yes |
Crypto |
No |
No |
Oanda vs FXCC: Research
| Research Type | Oanda | FXCC |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
Oanda vs FXCC: Education
| Education Type | Oanda | FXCC |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
No |
Cent account |
Yes |
No |
FXCC vs Oanda: Support
| Support Features | Oanda | FXCC |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Oanda vs FXCC: Forex Bonuses and Promo
| Promo | Oanda | FXCC |
|---|---|---|
Forex Bonus |
Yes (Not for all countries) |
100% first deposit bonus (not offered for EU clietns) |
Affiliate Program |
Yes |
Yes |
Other Promos |
Rebates and commission markdowns |
|
|
|
|
Top 5 Reviews on FXCC
-
Comment
FXCC is obviously developing — a lot of interesting things are appearing. This makes me happy as a trader. It has been recommended to me for a long time and now I recommend FXCC to my friends.
-
Comment
fxcc offers excellent opportunities for all traders. Here you will find a wide variety of instruments: currencies, futures, stocks, and cryptocurrencies. Trading conditions are very flexible, which I especially like. The platform is working fine. Moreover, the withdrawal process at fxcc is very fast, which indicates the reliability of the broker.
-
Comment
Broker FXCC offers advanced trading tools such as automated trading systems that help traders maximize their profits with minimal risks. The execution is good, and the charts are accurate. All these features make FXCC an ideal choice for those who want to trade in the forex market.
-
Comment
fxcc is a very serious broker. I came here not so long ago, but I have already appreciated the level of the company. I hope that I will never be disappointed in them. Great work, guys!
-
Comment
The broker FXCC is a new company for me; I have been working with them for a short time, but overall, everything is satisfactory at the moment. I've checked the withdrawal, and everything is fine; they process the money quickly. The deposit is a bit large, but I tend to think that in life, if you want a lot, you have to invest a lot. The execution is good, and the charts are accurate. The FXCC manager has professionally assisted me with any questions.
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.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!