OANDA vs FP Markets 2026: Which Broker is Better?
Choosing between OANDA and FP Markets depends on your trading style, preferred markets, and budget. OANDA is headquartered in New York, USA, while FP Markets operates from Sydney, Australia. OANDA has the longer track record, established in 1996, compared to FP Markets which was founded in 2005. This in-depth comparison covers regulation, fees, platforms, markets, and overall ratings to help you decide which broker is the better fit in 2026.
OANDA
FP Markets
| OANDA | FP Markets | |
|---|---|---|
| BrokerRank Score | 4.3/5 ✓ | 3.8/5 |
| Min. Deposit | $0 ✓ | $100 |
| Spread from | 0.6 pips | 0 pips ✓ |
| Max Leverage | 1:50 | 1:500 ✓ |
| Regulation | CFTC, FCA, ASIC ✓ | ASIC, CySEC |
| Platforms | MT4, Proprietary Web, Proprietary Mobile | MT4, MT5, TradingView |
OANDA is the better choice overall, scoring 4.3/5 vs 3.8/5 on BrokerRank's independent rating. On fees, FP Markets offers lower spreads (0 pips).
See full side-by-side comparison belowOANDA vs FP Markets: Key Differences
OANDA
WinnerFP Markets
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Fees Comparison
OANDA
FP Markets
Regulation & Trust
OANDA holds licences from FCA, CFTC, ASIC. FP Markets is regulated by ASIC, CySEC.
Markets & Assets
Both brokers offer access to Forex, Cfd, Indices, Commodities markets. FP Markets adds Stocks.
Fees & Spreads
On spreads, FP Markets is more competitive with EUR/USD spreads from 0.0 pips, compared to 0.6 pips at OANDA.
Trading Platforms
OANDA supports MT4, Proprietary Web, Proprietary Mobile. FP Markets offers MT4, MT5, TradingView, Proprietary Mobile. Both brokers are available on MT4, Proprietary Mobile.
Minimum Deposit
OANDA requires no minimum deposit, while FP Markets sets a minimum deposit of $100. This makes OANDA accessible to traders with any budget.
Overall Ratings
BrokerRank scores OANDA at 4.09/5 and FP Markets at 3.84/5, based on 50+ data points covering regulation, fees, platforms, markets, and user experience. OANDA leads overall with a clear advantage.
BrokerRank Verdict
Who Should Choose Which?
OANDA
4.3/5
Choose OANDA if you want…
- Higher overall rating (4.3/5)
- No per-trade commission
- No minimum deposit
- More regulatory licences (7)
FP Markets
3.8/5
Choose FP Markets if you want…
- Tighter spreads (from 0 pips)
- Higher leverage (up to 1:500)
- More market types (6)
- More platforms (4 supported)
Also consider
We earn a commission when you open an account through these links, at no extra cost to you. Our ratings are scored independently — see the full independent ranking.
Both OANDA & FP Markets are available in
Frequently Asked Questions
1Is OANDA better than FP Markets?
OANDA scores higher overall on our independent rating system. OANDA holds a 4.3/5 rating vs FP Markets's 3.8/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
2Which has lower fees, OANDA or FP Markets?
OANDA offers spreads from 0.6 pips, while FP Markets starts at 0 pips. Check the fees section above for a full breakdown.
3What is the minimum deposit for OANDA vs FP Markets?
OANDA requires a minimum deposit of $0. FP Markets requires $100.
4Which broker is safer, OANDA or FP Markets?
OANDA is regulated by CFTC, FCA, ASIC, MAS, CIRO, BVI FSC, KNF, while FP Markets holds licences from ASIC, CySEC.
5What trading platforms do OANDA and FP Markets support?
OANDA supports MT4, Proprietary Web, Proprietary Mobile. FP Markets supports MT4, MT5, TradingView, Proprietary Mobile.
6Can I use both OANDA and FP Markets?
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
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