Choose FP Markets if you want…
Australian + EU traders wanting deep equity CFD coverage via IRESS plus ECN FX execution from a dual-tier-1 broker.
FP Markets
⭐ 4.5 / 5
VS
OANDA
⭐ 4.6 / 5
FP Markets vs OANDA — which broker is better in 2026?
We compared FP Markets and OANDA across five core criteria: regulation, minimum deposit, spreads, platform choice, and overall user rating. OANDA wins on more criteria (3 categories vs 2), making it the stronger default for most traders. Both brokers remain reputable, independently tier-1 regulated options.
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| FP Markets | OANDA | Winner | |
|---|---|---|---|
| Rating | ⭐ 4.5 / 5 | ⭐ 4.6 / 5 | OANDA |
| Regulators | ASIC, CySEC, FSCA, FSA SVG | FCA, ASIC, CFTC/NFA, MAS, FSA Japan, IIROC | OANDA |
| Min. deposit | $100 | $0 (no minimum) | OANDA |
| Spreads from | 0.0 pips (Raw) | 0.6 pips (Standard) | FP Markets |
| Max. leverage | Up to 1:30 (EU retail) / 1:500 (offshore) | Up to 1:30 (EU retail) / 1:50 (US) | — |
| Platforms | MT4, MT5, cTrader, IRESS, FP Markets Mobile | MT4, MT5, OANDA Trade (web + mobile), TradingView | FP Markets |
| Founded | 2005 | 1996 | — |
| HQ | Sydney, Australia | Toronto, Canada / New York, USA | — |
Pros & cons compared
FP Markets pros
- ✓ Founded 2005 — 20+ year operating history
- ✓ ASIC + CySEC dual tier-1 regulation
- ✓ Raw account: 0.0 pips + $3/lot commission per side
- ✓ Five platforms incl. IRESS — DMA access to ASX & global equities
- ✓ 10,000+ share CFDs across 9 international exchanges
Cons
- ✗ $100 minimum deposit higher than budget brokers
- ✗ Smaller brand than IC Markets / Pepperstone
- ✗ IRESS platform has steeper learning curve than MT4
OANDA pros
- ✓ Founded 1996 — among the longest-running FX brokers
- ✓ Six tier-1 regulators including FCA, CFTC/NFA, ASIC, MAS
- ✓ One of few non-US brokers with direct US CFTC/NFA regulation
- ✓ No minimum deposit, fractional pip pricing
- ✓ Excellent proprietary OANDA Trade platform + TradingView integration
Cons
- ✗ Spreads on Standard account (0.6+ pips) not the absolute tightest
- ✗ EU leverage 1:30 (ESMA); US leverage 1:50
- ✗ Limited crypto offering vs. peers
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Which one should you choose?
Choose OANDA if you want…
US-resident traders + serious EU/UK traders wanting institutional-grade regulation and a clean proprietary platform.
Frequently asked questions
Which is better — FP Markets or OANDA?
Based on five comparison criteria (regulation, deposit, spreads, platforms, overall rating), OANDA wins 3 categories. That makes it the stronger default choice — though both brokers remain reputable, independently tier-1 regulated options.
Is FP Markets more regulated than OANDA?
FP Markets holds licenses from: ASIC, CySEC, FSCA, FSA SVG. OANDA holds licenses from: FCA, ASIC, CFTC/NFA, MAS, FSA Japan, IIROC. OANDA has more regulatory licenses, giving it broader geographic coverage.
What are the spreads at FP Markets vs OANDA?
FP Markets spreads start from 0.0 pips (Raw). OANDA spreads start from 0.6 pips (Standard). Actual spreads vary by account type and market conditions.
Which has a lower minimum deposit, FP Markets or OANDA?
FP Markets: $100. OANDA: $0 (no minimum). OANDA has the lower entry barrier.