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Head to head

FXCM vs OANDA

FXCM is licensed by FCA in the United Kingdom, CySEC in the European Union and ASIC in Australia. OANDA is licensed by CFTC / NFA in the United States, FCA in the United Kingdom, KNF in the European Union, CIRO in Canada, ASIC in Australia, MAS in Singapore and JFSA in Japan, and also has an offshore registration. The licence that applies to you depends on where you live, so check which company you would contract with before comparing anything else.

Minimum deposits start at $50 at FXCM and $0 at OANDA. Only OANDA offers negative balance protection. Both offer segregated client money.

Facts last checked: FXCM on 20 October 2026, OANDA on 20 October 2026.

FXCM profileOANDA profile
Broker 1
Broker 2
Broker 3

Monthly cost uses the account chosen in each slot: cost per lot × your lots. Swap and other fees are extra. The lowest monthly cost is highlighted only as a fact about cost, not as a recommendation.

Broker
FXCMStrictly regulatedRead the profile
OANDAStrictly regulatedRead the profile
Comparing
FXCMUnited Kingdom
OANDAUnited States

Overview

Founded
1999
Not yet checked
Headquarters
London, United Kingdom (Stratos Group)
Not yet checked
Official websites
  • fxcm.com
  • tradu.com
  • oanda.com
  • oanda.sg
Facts last checked
20 October 2026
20 October 2026

Regulation and protection

Company you would contract with
Stratos Markets Limited
OANDA Corporation
Regulator
FCA
United Kingdom
CFTC / NFA
United States
Regulation level
Strictly regulated
Strictly regulated
Licence number
217689 (applied to cancel)
Check the register
NFA ID 0325821
Check the register
Clients this company serves
Existing UK clients; FXCM's UK site sends new accounts to Trade Nation
US residents (retail forex; registered futures commission merchant and retail foreign exchange dealer)
All licences held
  • FCA (United Kingdom)
  • CySEC (European Union)
  • ASIC (Australia)
  • CFTC / NFA (United States)
  • FCA (United Kingdom)
  • KNF (European Union)
  • CIRO (Canada)
  • ASIC (Australia)
  • MAS (Singapore)
  • JFSA (Japan)
  • FSC (BVI) (British Virgin Islands)
Segregated client money
Yes
Yes
Negative balance protection
No
Yes
Compensation scheme
FSCS up to £85,000 (UK company); ICF up to €20,000 (Cyprus company); none for the St Vincent company
FSCS (UK, OANDA Europe Limited clients); CIPF (Canada); other countries have their own schemes or none

Costs

Your monthly cost
No accounts listed
No accounts listed
Cost per lot (EUR/USD)
No accounts listed
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Spread from
No accounts listed
No accounts listed
Typical EUR/USD spread
No accounts listed
No accounts listed
Commission per lot (round turn)
No accounts listed
No accounts listed
Typical GBP/USD spread
Not yet checked
Not yet checked
Typical USD/JPY spread
Not yet checked
Not yet checked
Typical XAU/USD spread
Not yet checked
Not yet checked
Swap-free account
Not yet checked
Not yet checked

Leverage and margin

Maximum retail leverage
1:30 on major pairs (UK, EU, Australia); up to 1:1000 at the St Vincent company
1:30 on major currency pairs (UK and EU retail clients); other companies set their own limits
Retail leverage by asset class
  • Major currency pairs: 1:30
  • Non-major currency pairs: 1:20
  • Other commodities and non-major indices: 1:10
  • Share CFDs: 1:5
  • Crypto CFDs: 1:2
  • Major currency pairs: 1:30
  • Other currency pairs: 1:20
  • Other commodities and non-major indices: 1:10
  • Share CFDs: 1:5
Margin call level
Not yet checked
Not yet checked
Stop-out level
Not yet checked
Not yet checked

Account

Minimum deposit (this account)
No accounts listed
No accounts listed
Base currencies
No accounts listed
No accounts listed
Execution
No accounts listed
No accounts listed

Platforms and features

Platforms
  • Trading Station
  • MetaTrader 4
  • TradingView
  • OANDA Trade web
  • OANDA Trade mobile app
  • MetaTrader 4
  • MetaTrader 5
  • TradingView
Markets
Forex, index, commodity, share and crypto CFDs, plus FXCM baskets
Currency pairs, indices, commodities, metals, bonds, shares and ETFs as CFDs and spread bets (UK)
Demo account
Yes
Not yet checked
Copy trading
Not yet checked
Not yet checked
Expert advisors (automated trading)
Yes
Yes
News trading allowed
Not yet checked
Not yet checked
Guaranteed stops
Not yet checked
Yes

Deposits and withdrawals

Deposit methods
  • Debit card
  • Credit card
  • Bank wire
  • Google Pay
  • Skrill
  • Neteller
  • Crypto
  • Debit or credit card
  • Bank transfer
Withdrawal fee
Not yet checked
No deposit or withdrawal fees from OANDA (UK); your bank may charge
Inactivity fee
Not yet checked
Monthly fee after 12 months without trading, capped at £20 a month per client (UK)

Support

Customer support
24/5 live chat
Not yet checked

Our notes

Strengths
  • Long-running brand (since 1999) with companies licensed by the FCA, CySEC and ASIC
  • Its own Trading Station platform alongside MetaTrader 4, TradingView and API access
  • Low first deposit of 50 in the account currency on the international site
  • Licensed by strict regulators in the US, UK, EU, Canada, Australia, Singapore and Japan
  • No minimum account balance and no deposit or withdrawal fees on the UK site
  • Guaranteed stop-loss orders available in the UK (for a fee)
Watch out for
  • The UK company, Stratos Markets Limited, has applied to cancel its FCA authorisation (shown on the FCA register since 15 October 2026), and FXCM's UK site says new trading accounts are now provided through Trade Nation.
  • FXCM's EU site says new trading accounts are now provided through AvaTrade, a separate broker
  • International clients join Stratos Global LLC in St Vincent and the Grenadines, which holds no financial licence; leverage there goes up to 1:1000 and losses can exceed deposits
  • Says Stratos South Africa (Pty) Ltd is FSCA FSP 46534 and Stratos Light Limited is supervised by the Israel Securities Authority; we could not confirm either on the regulator's register on 2026-10-20 (the FSCA FSP register could not be reached).
  • Clients outside the countries with a local OANDA company may be placed with OANDA Global Markets Ltd, which holds only an offshore licence from the BVI FSC
  • UK inactivity fee after 12 months without trading, up to £20 a month
  • The NFA's BASIC record for OANDA Corporation lists past NFA and CFTC regulatory actions; read them there before you open a US account

Risk warnings

The buttons to a broker’s website above the table are partner links: we may earn a commission if you open an account through them. That never changes the facts shown here. Trading leveraged products such as forex and CFDs carries a high risk of losing money rapidly, and most retail accounts lose money. Each broker’s own warning:

  • FXCM: Our products are traded on leverage which means they carry a high level of risk and you could lose more than your deposits. These products are not suitable for all investors. Please ensure you fully understand the risks and carefully consider your financial situation and trading experience before trading. Seek independent advice if necessary.
  • OANDA: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Open this comparison in the full tool to share a link with your own accounts and companies chosen.

Other head-to-head pages

Cost per lot is the typical EUR/USD spread in busy hours × $10, plus any round-turn commission, for one standard lot. “Not yet checked” means we have not confirmed that fact yet. This page compares facts; it does not rank the brokers or recommend either. Confirm costs and licences on each broker’s site and the regulator’s public register before opening an account: see how we review brokers and check a broker yourself.

Nothing on this page is financial advice. Read the full disclaimer.

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