Updated September 29, 2026 · BrokerCue Editorial Team
FXCM vs OANDA
Where FXCM and OANDA differ
| Compare |  FXCM |  OANDA |
|---|---|---|
| Minimum deposit | $50 | $0Lower |
| Markets | Forex, CFDs, Crypto | Stocks, ETFs, Forex, CFDs, Crypto, BondsCovers more |
| Regulators | FCA | FCA, CFTCCovers more |
| Retail accounts that lose money | 63% | 72% |
| Maximum retail leverage | Not confirmed | 1:30 |
Same on both: Investor protection (FSCS up to GBP 85,000).
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Key differences
- OANDA scores higher overall: 9.5 vs 8.7.
- Regulators: only OANDA offers CFTC.
- OANDA is licensed in 1 more country.
- Minimum deposit is lower at OANDA: $0 vs $50.
- Markets: only OANDA offers Stocks, ETFs, Bonds.
Our verdict on each
FXCM
FXCM suits UK traders who want a single regulated account for forex, CFDs and crypto, opening from a minimum deposit of $50 with client money covered by FSCS up to GBP 85,000. The licence is a known name, which matters more than a bargain headline, since 63% of retail accounts lose money.
OANDA
OANDA fits traders who want to open an account without a minimum deposit and sit under regulators on both sides of the Atlantic. Its overall score is 8.4 with a cost score of 8.4, though the retail loss rate of 72% is a reminder that most balances do not survive the trading.
Score breakdown
| Area | FXCM | OANDA |
|---|---|---|
| Cost | 8.7Entry starts at $50 against a €4.64 site median, with dealing limited to forex, cfds and crypto. | 9.7Higher |
| Offer | 8.8 | 9.3Higher |
| Trust | 8.6 | 9.5Higher |
Side by side, item by item
| Markets | FXCM | OANDA |
|---|---|---|
| Stocks | No | Yes |
| ETFs | No | Yes |
| Forex | Yes | Yes |
| CFDs | Yes | Yes |
| Crypto | Yes | Yes |
| Bonds | No | Yes |
Where they rank in our lists
| Ranking | FXCM | OANDA |
|---|---|---|
| Forex brokers | 83 of 147 | 20 of 147 |
| Low-spread forex brokers | 81 of 145 | 18 of 145 |
| CFD brokers | 69 of 122 | 16 of 122 |
What we checked
FXCM
- brokerchooser.com: 4 facts, checked September 26, 2026
- forexsuggest.com: 1 fact, checked September 26, 2026
- fxcmaffiliates.com: 1 fact, checked September 26, 2026
OANDA
- oanda.com: 4 facts, checked September 26, 2026
- brokersway.com: 3 facts, checked September 26, 2026
- tradingpedia.com: 3 facts, checked September 26, 2026
- en.wikipedia.org: 1 fact, checked September 26, 2026
Every fact side by side
| Fact | FXCM | OANDA |
|---|---|---|
| Features | Not confirmed | Demo account, Mobile app |
| Legal entity | Stratos Markets Limited | OANDA TMS Brokers S.A. |
| Headquarters | Not confirmed | United States |
| Founded | Not confirmed | 1996 |
| Support channels | Not confirmed | Email, Phone |
Where each stands against the rest
| Fact | FXCM | OANDA | Median |
|---|---|---|---|
| Minimum deposit | $50above the median | $0below the median | $25 |
| Retail accounts that lose money | 63%lowest quarter | 72%below the median | 72.05% |
Median across 134 listed brokers.
Pros and cons
FXCM
Pros
- FCA regulation with FSCS up to GBP 85,000 protection standing behind client money.
- forex, cfds and crypto markets sit in the same account, so CFD and crypto trades stay under the same licence.
- A named UK operator, Stratos Markets Limited, sits behind the brand and the FCA licence 217689.
Cons
- The $50 minimum deposit is higher than CFI at $0 and Vantage at $5.
- The market list stops at forex, cfds and crypto, so no shares, ETFs or futures dealing sits alongside currency and crypto.
OANDA
Pros
- No minimum deposit: $0 means the account opens without putting money in first, and OANDA sits at the top of our minimum deposit ranking, ahead of Vantage and its $5.
- Regulated in Britain and the US: FCA and CFTC covers an FCA licence 542574 and a CFTC registration 0325821.
- UK balances sit under protection of FSCS up to GBP 85,000, which pays compensation if the firm cannot return the money.
Cons
- Support runs on email and phone only, which leaves anyone wanting a live chat desk looking at other brokers.
- A retail loss rate of 72% is no better than the site figure of 70.15%, so the risk sits at the sector norm.
- Retail leverage of 1:30 magnifies losses as quickly as gains, and a $0 entry point makes it easy to size positions too large.
Who each suits
FXCM
Who it suits
- UK retail traders who want forex, CFDs and crypto under a single FCA licence rather than several brokers.
- Traders who check the operator before depositing: Stratos Markets Limited and licence 217689.
- Anyone prepared for leverage, with 63% of retail accounts losing money.
Who should look elsewhere
- eToro, if you also want shares, ETFs and futures, since it lists stocks, etfs and forex.
- CFI, if you want to start without committing cash, since its minimum deposit is $0.
- Vantage, if a smaller starting deposit matters, since Vantage asks $5.
OANDA
Who it suits
- Traders who want to open an account and start small: the minimum deposit of $0 removes the barrier to funding later.
- Anyone who checks regulators before depositing, since FCA and CFTC and protection of FSCS up to GBP 85,000 are both on record.
- Forex traders who also want shares, ETFs, CFDs, crypto and bonds under one roof: stocks, etfs and forex.
Who should look elsewhere
- Futures traders, who get a longer list at eToro, where stocks, etfs and forex adds futures to the stocks, etfs and forex on offer here.
- Traders who want nothing beyond shares, ETFs, forex, CFDs and crypto, since CFI's stocks, etfs and forex covers that core without the bonds.
Questions about each
FXCM
What do I need to deposit to open an FXCM account?+
The published minimum deposit is $50, higher than the €4.64 median across brokers on the site. For comparison, CFI lists a minimum deposit of $0 and Vantage $5. Beyond that floor the account size is yours to set, and it shapes position sizing rather than the trading fee.
Who regulates FXCM in the UK?+
FXCM is regulated in the UK by the FCA, the sole regulator listed for the brand, and the FCA licence number is 217689. UK clients therefore sit inside the UK regulatory perimeter, with rules on how the firm holds money and treats clients. Anyone outside the UK would need to check their own regulator before opening.
OANDA
What is the minimum deposit for an OANDA account?+
OANDA lists a minimum deposit of $0, so you can open an account without funding it and add money later. On our minimum deposit ranking that places OANDA at position 1 of 213 brands, well clear of the field. Vantage, by contrast, asks for $5 before trading starts.
How is my money protected if something goes wrong?+
UK clients sit under investor protection of FSCS up to GBP 85,000, the compensation paid if the firm cannot return the balance. The regulator behind that cover is named in FCA and CFTC, and the FCA licence number is 542574. US clients fall under the CFTC registration, 0325821, which is a separate arrangement.