Oanda vs FXTM - Fees Review included
Which broker is better Oanda or FXTM? 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. FXTM is one of the top brokers in the financial market with the TU Overall Score of 5.9 out of 10. Find out more about TU Overall Score.
| Feature | Oanda | FXTM |
|---|---|---|
Overall |
4.4 |
4.5 |
5 |
4.9 |
|
4.5 |
4.7 |
|
3.5 |
4.5 |
|
Investment Instruments |
4.1 |
4.2 |
Platforms and Charting Tools |
4.8 |
4.3 |
Deposit and Withdrawal |
4.2 |
4.6 |
Research |
4.7 |
4.5 |
Education |
4.5 |
4.6 |
Support |
4.8 |
4.4 |
Bonuses |
4.6 |
2.9 |
|
|
|
Oanda vs FXTM: 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.
Broker FXTM (pronounced "ForexTime") started in 2011. It provides an opportunity to make a profit through active trading or investment programs. The company is regulated by CySEC (Cyprus Securities and Exchange Commission), South African FSCA (Financial Sector Supervision Authority), UK FCA (Financial Conduct Authority), and FSC (Mauritius Financial Supervisory Commission). The broker has received many awards, including "Best Trading Conditions" (2018, 2019) and "Most Innovative Broker" (2018).
| Oanda | FXTM | |
|---|---|---|
| Overall Pros | Regulated by a range of reputable financial bodies | Direct US stock trading with zero fees |
| Real-time news and fundamental analysis tools | Stock baskets | |
| localized and multilingual phone support | 3 types of ECN accounts | |
| User-friendly platform for new forex traders | Low fees and near zero spreads | |
| Outstanding research tools | Well regulated forex broker | |
| Financial information publicly available | FXTM invest copy trading platform | |
| High educational value through written content and videos | Trading signals and trading calculators tools | |
| Orders get executed with no requotes | ||
| Deposit minimum as low as $1 | ||
| Overall Cons | No programs offering bonus | Lack of cryptocurrency |
| Slow withdrawal of funds |
Oanda vs FXTM: Safety and Regulation
| Regulated By: | Oanda | FXTM |
|---|---|---|
US Regulation |
Yes (CFTC, NFA) |
No |
FCA (Great Britain) |
Yes |
Yes |
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) |
ForexTime is registered with the UK Financial Conduct Authority (FCA) under the number 600475 and is regulated by the CySEC of Cyprus (under number 185/12) and the South African FSCA (number 46614). The broker is also regulated by the Financial Services Commission of the Republic of Mauritius, FSC (number C113012295). |
Oanda vs FXTM: Trading Conditions
| Trading Conditions | Oanda | FXTM |
|---|---|---|
Minimum Deposit |
No minimum deposit |
$50 |
Trading Platforms |
MT4, OANDA, TradingView |
MT4, MT5 |
Max Leverage (Futures) |
1-50 |
1-2000 (not for all markets) |
Supported Markets |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
Forex, Stocks, CFDs on stocks, indexes, Commodities, Metals |
Trading assets |
120+ |
1000+ |
Trading Accounts |
Standard, Core, and Swap-free |
Standard, Cent, Stocks, Stock CFDs, ECN , ECN Zero, FXTM pro |
Base Account Currencies |
USD, EUR, HKD, SGD |
USD, EUR, GBP, NGN |
Oanda vs FXTM: Fees
Forex Trading Fees
| Fee | Oanda | FXTM |
|---|---|---|
Standard Account EURUSD Average Spread |
1.2 pips |
1.5 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
not offered |
$2 per lot |
ECN Account EUR Average Spread |
not offered |
0.1 pips |
CFD Trading Fees
| Fee | Oanda | FXTM |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | Oanda | FXTM |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
$20 - just for bank transfer |
Bank 30 EUR, Card - 3 USD / 2 EUR / 2 GBP, FacaPay - 0.5% |
Inactivity Fee |
After 12 months of inactivity, 10 units of your account’s currency denomination |
$5 per month after 6 months of inactivity |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Oanda vs FXTM: Trading Assets
| Asset Name | Oanda | FXTM |
|---|---|---|
Overall |
120+trading assets |
1000+ |
Forex |
Yes |
Yes |
Stocks |
No |
Yes |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
No |
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 |
Yes |
Binary Options |
No |
No |
Oanda or FXTM: Investment Programs
| Asset Name | Oanda | FXTM |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
Yes |
Other |
No |
No |
Trading Platforms: FXTM or Oanda
| Oanda | FXTM | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
Oanda |
FXTM invest |
Others |
No |
No |
|
|
|
Oanda vs FXTM: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Oanda | FXTM |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes (not for all markets) |
Yes |
Crypto |
No |
No |
Oanda vs FXTM: Research
| Research Type | Oanda | FXTM |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
Oanda vs FXTM: Education
| Education Type | Oanda | FXTM |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
Yes |
FXTM vs Oanda: Support
| Support Features | Oanda | FXTM |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
callback, Telegram, Messenger Facebook, WhatsApp, |
Oanda vs FXTM: Forex Bonuses and Promo
| Promo | Oanda | FXTM |
|---|---|---|
Forex Bonus |
Yes (Not for all countries) |
cashback of up to $5 |
Affiliate Program |
Yes |
Refer a friend. For each new invited client, the partner receives $50 |
Other Promos |
Rebates and commission markdowns |
|
|
|
|
Top 5 Reviews on FXTM
-
Comment
I noticed a great difference between trading on a demo account and a live one with FXTM. There were no requotes or significant slippages on the demo account, which created the illusion of simple trading. However, when switching to a live account on the FXTM platform, some technical problems arose that made successful trading difficult. Apparently, real conditions require a more attentive and cautious approach to trading.
-
Comment
One day I decided to try my hand at trading with FXTM. However, they don't seem to be very interested in new traders. Managers from FXTM did not even want to help me complete the verification procedure to withdraw funds. In the end, I earned some money, provided them with the necessary documents, but they still blocked my user account when I submitted a withdrawal request. They refused to even discuss it and treated me rudely. FXTM managers are simply disrespectful.
-
Comment
I decided not to trade with FXTM. I won’t deny it, I limited myself to only testing a demo account with this company. It turned out that the order execution speed is very low, so orders are opened at unprofitable prices, and it is impossible to conduct a normal market analysis. I think I'm not the only one who encountered such problems at FXTM.
-
Comment
FXTM is creating problems when traders execute successful trades. At first glance, they give traders the opportunity to work and even withdraw small amounts of profit. However, as soon as profitable operations begin, difficulties occur. Withdrawing funds becomes problematic as support begins to suspect its clients of “dubious trades”. I don't recommend FXTM.
-
Comment
FXTM is a dishonest broker! I don’t even want to recall how I was deceived here! The support assured that everything was transparent and there was no manipulation. Then why does the price always, before closing an order, suddenly go against me? And it would be okay if it were on several trades! But this happens all the time! FXTM just completely took my deposit!
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.
- Webull vs Oanda
- Oanda vs InstaForex
- OspreyFX vs Oanda
- ProsperityFX vs Oanda
- Deriv vs Oanda
- EagleFX vs Oanda
- Capital.com vs Oanda
- Oanda vs AMP Global
- Oanda vs Spreadex
- Oanda vs Moneta Markets
- Oanda vs Vantage
- Oanda vs BlackBull Markets
- Oanda vs London Capital Group (LCG)
- Oanda vs FXCC
- Oanda vs Trading 212
- Oanda vs FXChoice
- Oanda vs IFC Markets
- Oanda vs XBTFX
- Oanda vs NAGA
- Oanda vs FXOpen
- Oanda vs City Index
- Oanda vs IG
- Oanda vs Saxo Bank
- Oanda vs Dukascopy
- Oanda vs LiteForex
- Oanda vs CMC Markets
- Oanda vs FP Markets
- Oanda vs OctaFX
- Oanda vs HotForex
- Oanda vs TD Ameritrade
- Oanda vs FBS
- Oanda vs Pepperstone
- Oanda vs Fusion Markets
- Oanda vs XTB
- Oanda vs Plus500
- Oanda vs Interactive Brokers
- Oanda vs AvaTrade
- Oanda vs Forex.com
- Oanda vs Libertex
- Oanda vs XM
- Oanda vs InstaForex
- Oanda vs IC Markets
- Oanda vs Exness
- Tickmill vs Oanda
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.