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Head-to-head
OANDA vs FOREX.com: fees, regulation and platforms compared
OANDA and FOREX.com side by side on the things that decide which one suits you: who regulates the company you would join, what a trade costs, which platforms you get and whether you can open an account where you live.
Short answer: Both accept US forex clients. OANDA has no US minimum deposit and spread-only pricing; FOREX.com has a $100 minimum and a RAW commission account.
OANDA vs FOREX.com at a glance
| OANDA | FOREX.com | |
|---|---|---|
| Regulation of main companies | CFTC/NFA (US), FCA, ASIC, CIRO | CFTC/NFA (GAIN Capital Group LLC, NFA ID 0339826) |
| Minimum deposit | None in the US, UK and Australia | $100 (US) |
| EUR/USD pricing (headline) | From 0.6 pips, spread-only (UK) | RAW from 0.2 pips + $7 per $100k round turn (US) |
| Platforms | OANDA platform, TradingView, MT4, MT5 | MT4, MT5, TradingView (US) |
| US retail forex clients | Yes (CFTC-registered, NFA member; 50:1 cap on majors) | Yes (CFTC-registered, NFA member) |
| Background | Founded 1996 | US business run by GAIN Capital Group LLC, part of StoneX |
| 1-lot EUR/USD round turn at headline prices | about $6 | about $9 |
Round-turn costs use each broker's headline "from" price for 1 standard lot (100,000 units, $10 per pip) including any published commission. Real spreads are often wider. Try your own numbers in our forex cost calculator.
Which should you choose?
Choose OANDA if:
- you live in the US and want a CFTC-registered, NFA-member broker
- you want no minimum deposit in the US, UK or Australia
- you want TradingView alongside MT4 and MT5
Watch out: Pricing is spread-only on standard accounts, so very active traders may find raw-plus-commission accounts elsewhere cheaper.
Choose FOREX.com if:
- you are a US trader who wants a RAW commission account
- you want MT5 or TradingView on a US-regulated account
- you are happy with a $100 minimum deposit
Watch out: The figures here are for the US business; terms for FOREX.com companies outside the US differ.
Regulation and safety
OANDA lists CFTC/NFA (US), FCA, ASIC, CIRO. FOREX.com lists CFTC/NFA (GAIN Capital Group LLC, NFA ID 0339826). A broker's headline licences do not always cover you: the company that opens your account depends on where you live, and only that company's regulator protects you. Our legal entity guide shows how to check it on the regulator's own register.
Costs
OANDA: From 0.6 pips, spread-only (UK). FOREX.com: RAW from 0.2 pips + $7 per $100k round turn (US). Also compare overnight swap rates if you hold trades, and any deposit, withdrawal, inactivity or currency conversion fees. See spreads and commissions explained.
Platforms
OANDA: OANDA platform, TradingView, MT4, MT5. FOREX.com: MT4, MT5, TradingView (US). If you run Expert Advisors, check MetaTrader support first; see MT4 vs MT5.
FAQ
Is OANDA or FOREX.com cheaper?
On headline figures, a 1-lot EUR/USD round turn costs about $6 at OANDA and about $9 at FOREX.com. That makes OANDA cheaper on paper, but headline "from" prices are minimums and real spreads widen at quiet times.
Which is better regulated, OANDA or FOREX.com?
OANDA: CFTC/NFA (US), FCA, ASIC, CIRO. FOREX.com: CFTC/NFA (GAIN Capital Group LLC, NFA ID 0339826). What matters is the company that would hold your account, which depends on where you live.
Do OANDA and FOREX.com accept US clients?
OANDA: Yes (CFTC-registered, NFA member; 50:1 cap on majors). FOREX.com: Yes (CFTC-registered, NFA member).
What is the minimum deposit at OANDA and FOREX.com?
OANDA: None in the US, UK and Australia. FOREX.com: $100 (US).
Which platforms do OANDA and FOREX.com offer?
OANDA: OANDA platform, TradingView, MT4, MT5. FOREX.com: MT4, MT5, TradingView (US).
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Sources
- Forex Awards OANDA review (sources listed there)
- Forex Awards FOREX.com review (sources listed there)
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