FXTM is a top-rated forex and CFD broker established in 2011 and operating across 4 continents. The company is secure and regulated by leading authorities, including the FCA and CySEC. Offering 1000+ trading markets and three account types, they cater to all levels of trader.
OANDA is an award-winning global broker, established in 1996. The hugely respected brand offers competitive trading accounts and serves clients from 196 countries. It remains a popular option with both beginners and experienced traders thanks to its user-friendly and sophisticated web platform, no minimum deposit and premium currency products and services. The company is also overseen by reputable regulators, including the FCA, ASIC and CIRO.
Pros
The broker delivers an excellent charting environment for traders, with over 30 technical tools offered in the MT4 platform, plus a range of additional platform indicators for monitoring spreads, orders, pivot levels and more
Beginners can access a strong range of free educational materials and short-term market insights, including a podcast hosted by the brand’s expert team
FXTM offers free VPS hosting for active traders looking for 24/7 uninterrupted connection with up to 99.9% uptime
The broker has a good reputation with multiple industry awards and oversight from top-tier regulators like the CySEC
Customer support is reliable and available in 30+ languages, making FXTM a top choice among global traders
Negative Balance Protection is available to clients registering with the EU and UK entities
The OANDA Trade web platform serves serious traders, with 100+ technical indicators, an economic overlay and a Dow Jones news feed
OANDA recently introduced a prop trading service, OANDA Labs Trader, offering a 75% profit share to skilled traders
The guaranteed stop loss order (GSLO) is a useful risk management tool not available at many alternatives
There are no restrictions on short-term trading strategies with scalping, hedging and netting permitted
OANDA has enhanced its suite of stocks, now providing exposure to over 2,200 US and European shares
With 68 forex pairs and access to a premium MT4 upgrade, the broker will serve active forex traders
Oversight from tier-one regulators like the FCA and ASIC makes the broker reliable and trustworthy
The $0 minimum deposit will appeal to newer traders
Spreads are tight and there are zero hidden fees
Cons
It’s a shame that ETFs and bond products are not available, and the selection of stocks is not extensive compared to competitors like AvaTrade
Spreads are mediocre in the commission-free accounts, with typical EUR/USD spreads around 1.9 pips - the industry average is around 1.2 pips
Withdrawal fees apply, including a 30 EUR fee on bank wire withdrawals
There are limited e-wallet payment options compared to alternatives
The range of payment methods trail competitors, only offering a handful vs the 10+ available at alternatives like AvaTrade
It's a shame that social and copy trading tools aren't supported for traders who want to explore other ways to trade
High-volume traders get limited fee rebates or perks compared to leading brands
Weekend customer support and extended hours trading aren't available
Awards
Best Trading Experience 2021 - World Finance Awards
Best Online Leveraged Trading Services 2021 - Global Business Awards
Best Forex Education Partner Nigeria 2021 - World Business Outlook
Best Trading Experience 2020 - World Finance Awards
Best ECN Broker 2020 - DayTrading.com
Best Trading Tools winner 2021 - Online Personal Wealth Awards
FXTM deliver a great mobile trading experience. Fast, secure and easy-to-use, the app supports both MetaTrader 4 and 5 and delivers real time quotes, all trading execution types and full account maintenance. The charting facilities are also among the best of any mobile app. Download it today.
iOS App Rating
4.8
4.7
Android App Rating
4.4
3.7
Margin Trading
Yes
Yes
Margin Rate
2%
MetaTrader 4
Yes
Yes
MetaTrader 5
Yes
No
cTrader
No
No
AlgoTrader
No
No
OmniTrader
No
No
TradingView
No
Yes
Autochartist
No
Yes
eSignal
No
No
Trading Central
No
No
STP Account
Yes
No
ECN Account
Yes
No
DMA Account
No
No
MAM Account
Yes
No
PAMM Account
Yes
No
LAMM Account
No
No
Demat Account
No
No
AI / Machine Learning
No
No
Robo Advisor
No
No
Negative Balance Protection
Yes
Yes
Market Maker
Yes
Yes
P2P Trading
No
No
Spot Trading
Yes
Yes
Auto Trading
Expert Advisors (EAs) on MetaTrader
Expert Advisors (EAs) on MetaTrader
Copy Trading
No
No
Social Trading
No
No
Trade Signals
Yes
VPS Hosting
Yes
No
Tournaments
No
No
Demo Competitions
No
No
Ethical Investing
No
No
Custodial Account
No
No
Guaranteed Stop Loss
No
Yes
Inactivity Fee
$5
$10
Islamic Account
Yes
No
Account Currencies
USD
EUR
GBP
USD
EUR
GBP
CAD
AUD
JPY
CHF
HKD
SGD
Commodities
Gold
Silver
Natural Gas
Oil
Precious Metals
Corn
Palladium
Platinum
Copper
Wheat
Gold
Silver
Oil
Natural Gas
Soybeans
Sugar
CFD
FXTM’s CFD offering spans 250+ forex, stocks, commodities and indices, plus crypto CFDs at the global entity. Leverage up to 1:30 is available from the CySEC-regulated branch, though highly seasoned traders can also access massive 1:2000 rates from the global entity.
You can speculate on popular financial assets covering forex, commodities, indices, metals and bonds. You can get started with $0 minimum deposit, making the broker a good pick for beginners. There’s also over 130 technical indicators available collectively in the MT4 and OANDA Trade platforms.
Leverage
1:30
1:30
FTSE Spread
1.3
1.0
GBPUSD Spread<
0.2
1.4
Oil Spread
5.0
3.0
Stocks Spread
0.1
12 (Apple Inc)
Forex
FXTM offers a strong range of 60+ currency pairs - more than many competitors including AvaTrade. There’s also 6 currency indices for traders looking to diversify their forex portfolios. The brand’s ECN account offers competitively low spreads from 0 pips, with equally low commissions up to $2 per lot.
OANDA offers 68 currency pairs, which is above the industry average. You can speculate on majors, minors and exotics, with spreads from 0.8 pips on popular pairs. There are no commissions and leverage is available up to 1:200. Average execution speeds are fast based on tests, at 12 milliseconds.
Assets
50+
68
GBPUSD Spread
0.2
1.4
EURUSD Spread
0.1
0.8
EURGBP Spread
0.6
0.9
Currency Indices
USD
EUR
GBP
JPY
AUD
NZD
Cryptocurrency
Cryptocurrency CFDs are available on 11 popular digital coins for those using the international entity. Bitcoin is available, alongside popular altcoins like Avalanch and Dogecoin. Spreads are floating and minimum lot sizes from 0.01 are available.
OANDA offers trading on leading cryptocurrencies, including Bitcoin. You can place trades in the app hassle-free and practice in the unlimited demo account. The broker offers guaranteed stop-loss orders to help protect you against crypto market volatility.