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Compare Forex Brokers FXCM And Oanda


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Subjective Ratings

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FXCM

Oanda

Charting: Four and Half star Charting Rating Two star Charting Rating
Execution: Five star Execution Rating Four star Execution Rating
Transaction costs (spreads): Four star Transaction Costs (spreads) Rating Four star Transaction Costs (spreads) Rating
User-friendliness: Four star User-friendliness Rating Three and Half star User-friendliness Rating
Platform Functionality: Five star Platform Functionality Rating Four star Platform Functionality Rating
Platform Reliability: Four star Platform Reliability Rating Three star Platform Reliability Rating
Customer support: Four star Customer Support Rating Three star Customer Support Rating
Rollover interest rates: Four star Rollover interest rates Rating Five star Rollover interest rates Rating
Withdrawal processing: Four and Half star Withdrawal processing Rating Four and Half star Withdrawal processing Rating
Average rating: Four and Half star Average Rating Three and Half star Average Rating

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Business Details

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FXCM

Oanda

 
Registered Business Name: Forex Capital Markets LLC Oanda Corporation
Broker Headquarters: New York City, USA Toronto, Canada
Also has offices in: London, Hong Kong and Tokyo Virtual offices in New York and Hong Kong
Regulated By: USA: NFA (0308179), registered FCM with CFTC
UK: FSA (217689)
Hong Kong: SFC (CE: AIM232)
NFA (0325821)
FCM registered with CFTC
In business since year: 1999 2002
Broker Capital as of 11-2008 $131,416,979 $170,799,434
Client Account Segregation: Available to all clients of FXCM UK which welcomes US-based clients. No
Collect Taxes on Earnings: No No
Prohibit clients from: Yes Yes
Deposit/Withdrawal methods:
MethodDeposit FeeWithdrawal Fee
ACH $0 $0
Check $0 $0
MasterCard $0 $0
Visa $0 $0
Wire Transfer $0 $40
MethodDeposit FeeWithdrawal Fee
Check (US clients) $0 $0
PayPal $0 $0
Wire Transfer $0 $0
Main liquidity providers: 10 top-tier banks - names not disclosed P Morgan Chase, Citibank, UBS, Deutsche Bank and Royal Bank of Canada

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Trading Details

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FXCM

Oanda

 
Browser platform: Java Trading Station (for Mac users) or FXCM ActiveTrader FXTrade (proprietary) - MAC compatible
Downloadable platform: FXCM Trading Station 2.0, FXCM MetaTrader 4 (MT4) No
Mobile platform: Java Trading Station (for Mac users) or FXCM ActiveTrader FXTrade (proprietary) - MAC compatible
Phone dealing: Yes No
Order processing: Straight-through to multiple liquidity providers Market Maker
Account Types
Account Maximum leverage Minimum/Maximum deposit: Minimum/Maximum trade size:
Gold Account 200:1* $25,000/unlimited 10,000/50,000,000
Standard Account 200:1* $2,000/unlimited 10,000/50,000,000
Account Maximum leverage Minimum/Maximum deposit: Minimum/Maximum trade size:
Standard Account 50:1* No mininum or maximum requirem 1/10,000,000
Swap-free accounts       No swap-free accounts available
Tradeable Instruments: 32    39   
No Dealing Desk Execution: All orders Yes
Typical spread on EUR/USD: 2.3 pips (0.00023) 0.9 pips (0.00009)
Fixed spreads: No No
Guaranteed stop losses? All orders are executed at best available price. No
Trailing Stops: Server-side Server-side
OCO orders available: Yes Yes
If/then orders available:   Yes
Hedging capability: No No
Automated Trading: Yes, on MT4 No
Trading Hours: Sunday 5:00PM ET to Friday 4:00PM ET  
Timezone User-defined (GMT is the defau User-defined
Scalping allowed: Yes, FXCM does not impose any restrictions on your trading style. Yes
Account currencies available: AUD, CAD, EUR, GBP, JPY, NZD, USD USD
Platform languages: English Chinese, English, German, Japanese, Spanish
Support languages: Arabic, Chinese, French, German, Italian, Japanese, Portuguese, Russian, Spanish, Urdu English
Demo account: 30 days Unlimited
Live chat support: Normally 24/7 but may be down for weekly maintenance outside of trading hours. Yes
Interest on Margin: No Yes
Promotions & tournaments: Courses and seminars/webinars with professional traders offered to real account holders. Gold account holders also get preferred treatment, free ProRealTime Charting package and a complimentary $1,000 daytrading course. None

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