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1Repair Windows errors before they cause bigger problems2Fix the driver behind crashes, sound loss and screen glitches3Clear out junk files and repair common Windows errorsFor U.S. retail forex traders, OANDA and FOREX.com are both established, CFTC-registered brokers. The better choice depends less on the brand name than on your trade size, preferred platform, funding method, and whether you want spread-only or commission-based pricing.
OANDA is the better fit for simplicity, very small position sizes, API access, and flexible funding. FOREX.com is the stronger choice for platform breadth, MetaTrader 5, proprietary trading tools, and active traders who may benefit from RAW Pricing. Neither broker is automatically cheaper: the relevant calculation is the spread plus commission, financing, currency conversion, and account fees.
OANDA vs. FOREX.com at a glance
This comparison covers the U.S. entities: OANDA Corporation and GAIN Capital Group LLC, doing business as FOREX.com. Their non-U.S. businesses may offer different products, leverage, fees, and protections.
| Feature | OANDA | FOREX.com |
|---|---|---|
| U.S. regulatory status | CFTC-registered FCM and RFED; NFA member | CFTC-registered FCM and RFED; NFA member #0339826 |
| U.S. forex pairs | More than 68 major and minor pairs | 80 currency pairs |
| Standard pricing | Spread-only | Spread-Only account |
| Commission pricing | Core Spreads + Commission; $10,000 minimum initial deposit or balance | RAW Pricing; $7 per $100,000 USD notional per side |
| Smallest stated position size | Variable sizes down to one unit | Platform- and account-specific; MT4 supports micro-lots |
| Platforms | OANDA Trade, mobile and tablet apps, TradingView, MT4, API | FOREX.com Web Trader and mobile apps, TradingView, MT4, MT5 |
| Minimum funding | No minimum for listed U.S. funding methods | $100 for ACH or debit-card deposits; no wire minimum |
| Inactivity fee | Official pages currently conflict: $10 versus $20 monthly after 12 months | No inactivity fee identified in the current U.S. fee pages reviewed |
| Bank-transfer withdrawal fee | No OANDA fee | No fee for bank transfer; U.S. wire withdrawal fee is $25, waived above $10,000 |
Pricing: which broker is cheaper?
The answer depends on the currency pair, position size, account type, and when you trade. A broker advertising a 0.0-pip spread is not offering cost-free trading. That figure may be an occasional minimum, and commission, slippage, financing, and conversion costs can still apply.
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OANDA spread-only pricing
OANDA’s current published U.S. examples include:
- EUR/USD: 1.4 pips
- USD/JPY: 1.4 pips
- AUD/USD: 1.4 pips
- GBP/USD: 2.0 pips
- USD/CAD: 2.2 pips
- GBP/JPY: 3.1 pips
These are displayed spreads rather than guaranteed execution costs. OANDA says spreads can widen around market openings and closings, major geopolitical events, and other periods of low liquidity. A trader holding positions through volatile news should not assume the published example will be available when an order is filled.
OANDA Core Spreads + Commission
OANDA’s Core model combines a variable spread with a commission of $0.70 per 10,000 units per leg. A 10,000-unit position therefore costs $0.70 to open and $0.70 to close, or $1.40 round trip, before the spread. A 1,000-unit trade costs $0.07 per side. OANDA also states that its minimum commission is $0.01 per trade.
Core pricing requires an initial deposit or maintained balance of at least $10,000. Selected major pairs can show spreads as low as 0.0 pips, but that is an as-low-as figure, not a fixed quote. The live spread continues to matter.
FOREX.com Spread-Only pricing
FOREX.com’s Spread-Only account does not add a separate trading commission. Its U.S. pricing pages currently show different EUR/USD minimums: one lists spreads as low as 1.2 pips, while the account-comparison page lists as low as 1.0 pip. Because those official pages are inconsistent, neither number should be treated as a definitive quote without checking the current account page.
Spread-Only is available through the FOREX.com platform, mobile app, TradingView, and MT4.
FOREX.com RAW Pricing
RAW Pricing combines variable raw spreads with a commission of $7 per $100,000 of USD notional per side. A USD/JPY trade with $100,000 of USD notional would incur $7 to open and $7 to close, or $14 round trip, before the spread.
For EUR/USD, the commission is calculated using USD notional. For example, a 100,000-unit EUR/USD trade at 1.1000 has $110,000 of USD notional. The commission would be $7.70 per side, or $15.40 round trip.
RAW Pricing advertises major-pair spreads as low as 0.0 pips and is currently listed for the FOREX.com platform and MetaTrader 5. The current account-comparison table does not list RAW Pricing for MT4.
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Comparing the commission accounts
At a comparable $100,000 USD notional, the headline commissions are broadly similar:
| Account | Commission per side | Round-trip commission |
|---|---|---|
| OANDA Core, 100,000 units | $7 | $14 |
| FOREX.com RAW, $100,000 USD notional | $7 | $14 |
This is not a universal cost comparison. OANDA quotes its commission per unit amount, while FOREX.com calculates using USD notional. The applicable spread, trade size, exchange rate, account currency, and any conversion charge determine the actual result. A trader should compare completed trade statements or representative live quotes rather than relying on the headline commission.
Platforms and trading tools
OANDA
OANDA’s U.S. lineup includes OANDA Trade on the web, mobile and tablet apps, TradingView, MT4, and API trading. Its most distinctive feature is flexible sizing: the broker explicitly supports variable contract sizes down to one unit. That can be useful when testing a strategy, managing risk on a small account, or placing a position that does not fit neatly into a micro-lot.
OANDA’s account-comparison page also says its open-order indicator updates every 20 minutes on a standard account and every five minutes for Elite Trader accounts. That is a detail worth checking if you use the indicator to monitor positioning rather than treating it as a real-time market signal.
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FOREX.com
FOREX.com offers its Web Trader and mobile apps, TradingView, MT4, and MT5. The account pairing matters:
| Account type | Listed platforms |
|---|---|
| Spread-Only | FOREX.com platform, TradingView, MT4 |
| RAW Pricing | FOREX.com platform, MT5 |
FOREX.com Web Trader includes TradingView charts, more than 80 technical indicators, 14 time intervals, chart-based order editing, Performance Analytics, Capitalise.ai, Trading Central, Reuters news, and an economic calendar. That makes it the more extensively documented proprietary environment of the two.
FOREX.com’s MT4 environment supports expert advisors, research, Reuters news, Trading Central analysis, and micro-lots. However, an expert advisor running on a local computer will stop executing if that computer disconnects. FOREX.com notes that eligible VPS arrangements may be used for hosting. Traders should test automation and hosting before relying on an unattended strategy.
Funding and withdrawals
OANDA
OANDA does not set a minimum for its listed U.S. funding methods:
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- Debit-card deposits have no minimum and a maximum of $20,000 per calendar month.
- ACH deposits have no minimum and a maximum of $50,000 per deposit.
- Wire deposits have no minimum or maximum.
- OANDA does not charge a deposit fee, although a bank or payment provider may charge one.
- Third-party deposits are not accepted.
Regular ACH processing can take up to six business days. Debit-card withdrawals cannot exceed the amount originally deposited by card. Funds generally need to be returned to the original deposit source, and instant ACH credits cannot be withdrawn until they settle. If the original bank account has been closed, OANDA may require evidence of closure before using a replacement account.
OANDA also offers spot crypto through a Paxos partnership, but crypto cannot be withdrawn directly. It must first be sold and then withdrawn as cash.
FOREX.com
FOREX.com sets a $100 minimum for ACH and debit-card deposits. ACH deposits have a $10,000 per-transaction limit and may total up to $50,000 over seven days. Wire deposits have no minimum or maximum. FOREX.com does not charge an incoming deposit fee, though the sending bank may do so.
Withdrawal rules are more restrictive for some funding methods. Deposited funds generally must be returned to their originating source. The minimum withdrawal is $100, or the remaining balance if it is less than $100. Bank-transfer withdrawals are capped at $25,000 per transaction. U.S. wire withdrawals cost $25, although FOREX.com waives the fee for withdrawals above $10,000. Bank-transfer deposits may also be unavailable for withdrawal or transfer for five business days after the deposit.
Funding advantage: OANDA is more convenient for small deposits and does not charge its own bank-transfer withdrawal fee. FOREX.com is less convenient for small ACH or card deposits and may charge for smaller U.S. wire withdrawals.
Execution and trading conditions
FOREX.com publishes execution statistics showing 100% of valid trades executed, 100% executed in less than one second, and average price improvement of 0.67 pips per limit order for a reporting period from March 31, 2025, through April 30, 2025. Those figures are not a guarantee for every customer: the stated statistics exclude MetaTrader orders, non-standard processing, and orders that failed to trigger. Execution can vary with volatility, liquidity, order size, platform, connectivity, strategy, and account type.
OANDA warns that spreads can widen in low-liquidity and high-volatility conditions. Its execution information also says certain stop, trailing-stop, guaranteed-stop, and entry orders can execute deeper in the order book using volume-weighted average price when the requested quantity exceeds available top-of-book liquidity.
For either broker, the practical test is how your own orders fill during the sessions and pairs you trade. Historical execution claims and minimum spreads should be treated as context, not as a promised trading cost.
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Regulation and risk considerations
OANDA Corporation and GAIN Capital Group LLC are both CFTC-registered futures commission merchants and retail foreign exchange dealers and are NFA members. FOREX.com identifies GAIN Capital Group LLC as a StoneX Group company.
Regulation is important, but it does not eliminate operational or compliance risk. On May 29, 2025, the NFA accepted OANDA Corporation’s settlement concerning alleged violations involving matters including security deposits, net-capital calculations, a third-party-platform pricing display issue, crypto promotional disclosures, and supervision. OANDA said it settled without admitting or denying the allegations.
This does not by itself establish that FOREX.com is safer for a particular trader. It does show why customers should read the current risk disclosures, verify the legal entity opening the account, and avoid treating “regulated” as a guarantee against every problem.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Which broker is best for different traders?
Best for beginners: OANDA
OANDA has a simpler account choice, no minimum for its listed U.S. funding methods, and one-unit position sizing. Those features make it easier to start with a position size that matches a small risk budget. Before opening an account, confirm the current inactivity fee and review currency-conversion charges.
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FOREX.com is the better fit when MT5, proprietary analytics, Capitalise.ai, Trading Central, or RAW Pricing matter. Its nominal RAW commission is comparable to OANDA Core at $100,000 USD notional, but a trader should compare live spreads and actual fills before assuming it is cheaper.
Best for algorithmic traders: depends on the technology
OANDA explicitly offers API trading. FOREX.com supports automated strategies through MT4 and MT5, including expert advisors. These are different automation environments: an API-based strategy cannot simply be moved to MetaTrader without redevelopment and testing.
Best for very small positions: OANDA
OANDA clearly advertises variable contract sizes down to one unit. FOREX.com documents micro-lot availability on MT4, but OANDA offers the clearer minimum-size advantage.
Best for TradingView: a tie
Both brokers support TradingView. FOREX.com’s available pairing depends on the account type, while OANDA lists TradingView for its standard and Elite Trader accounts.
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Claims to treat carefully
- “OANDA has no minimum deposit.” This is true for its listed funding methods, but Core Spreads + Commission requires at least $10,000 initially or as a maintained balance.
- “FOREX.com RAW works with MT4.” The current U.S. comparison table lists RAW for the FOREX.com platform and MT5, while MT4 is listed with Spread-Only.
- “A 0.0-pip spread is free.” It is an as-low-as variable spread, and commission may still apply.
- “FOREX.com always has a $100 minimum deposit.” The minimum applies to ACH and debit-card deposits; wires have no minimum.
- “FOREX.com’s execution statistics apply to every platform.” The published figures exclude MetaTrader orders and cover a specific historical reporting period.
- “OANDA’s inactivity fee is definitely $10 or definitely $20.” Its current U.S. pages show both amounts. Confirm the amount in the customer agreement or with OANDA before applying.
FAQ
Is OANDA or FOREX.com better for beginners?
OANDA is generally the easier starting point because it has a simpler account structure, no minimum for its listed U.S. funding methods, and position sizes down to one unit. Beginners should still review the current inactivity-fee terms and currency-conversion charges.
Is OANDA cheaper than FOREX.com?
Not consistently. OANDA’s Core commission and FOREX.com’s RAW commission are both nominally $7 per side at a comparable $100,000 USD notional, but the live spread, trade size, pair, financing, and conversion costs determine the all-in price.
Does FOREX.com offer MetaTrader 5 in the United States?
Yes. The current U.S. account information lists MT5 with RAW Pricing. MT4 is listed with the Spread-Only account, so traders should not assume that every FOREX.com account supports both platforms.
What is the smallest forex trade at OANDA?
OANDA explicitly states that variable contract sizes can be as small as one unit. That is substantially more granular than a conventional micro-lot, which is typically 1,000 units.
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Does OANDA charge an inactivity fee?
OANDA’s current U.S. pages conflict. One says 10 units of the account currency after 12 months without open trades, while another says $20 per month after 12 months without trading activity. Confirm the applicable charge with OANDA or in the customer agreement before opening an account.
Which broker is better for TradingView?
It is effectively a tie because both currently support TradingView. FOREX.com’s TradingView availability depends on account type, while OANDA lists TradingView for its standard and Elite Trader accounts.
The Bottom Line
Choose OANDA if you want one-unit sizing, API access, OANDA Trade, a simpler account structure, and more flexible small-account funding. Choose FOREX.com if you want MT5, a wider documented platform lineup, advanced proprietary tools, or the option to compare RAW Pricing as an active trader.
For a cost-sensitive decision, record the spread and commission on your actual pair and position size, then add financing, conversion, and funding charges. At $100,000 USD notional, the two commission schedules are broadly equivalent at $7 per side; the live spread and execution quality are what separate them.
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