OANDA vs FXPrimus Comparison
Comparing forex brokers side by side is no easy task. Our research team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Trying to decide between OANDA and FXPrimus? Our independent database powered by our unbiased research will help you compare OANDA vs FXPrimus side-by-side.
What is Trust Score?
Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.
Can I trust OANDA?
OANDA has a Trust Score of 93, giving it a "Highly Trusted" Trust Score Label.
Can I trust FXPrimus?
FXPrimus has a Trust Score of 71, giving it a "Average Risk" Trust Score Label.
Is OANDA a good broker?
Founded in 1996, OANDA is a long-standing, highly trusted broker licensed in an impressive seven Tier-1 regulatory jurisdictions. Forex and CFD traders will find plenty to like at OANDA, including strong market research and support for a range of third-party plug-ins and platforms (like MetaTrader 4
and the wildly popular TradingView). The OANDA Trade platform is available for web, desktop, and mobile. Though the desktop platform is good – not great – the mobile app is easy to use and boasts a great balance of features. The only downside with using OANDA is its comparatively small range of markets and industry-average spreads.
Is FXPrimus a good broker?
Founded in 2009, FXPrimus offers cTrader as well as the full MetaTrader suite (both MT4and MT5), but offers fewer than 140 symbols that can be traded from within its platform. Despite carrying indemnity insurance from its Vanuatu-regulated entity and holding a regulatory license in Cyprus, FXPrimus' lack of additional top-tier licenses brings down its overall Trust Score rating.
What Tier-1 jurisdictions is each broker regulated in?
Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. OANDA holds regulatory licenses in the following Tier-1 jurisdictions: Australia (ASIC Authorised), Canada (CIRO Authorised), Japan (SFC Authorised), Singapore (MAS Authorised), United Kingdom (U.K.) (FCA Authorised) and USA (CFTC Authorized). FXPrimus, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: none. Neither have Hong Kong (SFC Authorised), CBI Authorised (Ireland), New Zealand (FMA Authorised) and Switzerland (FINMA Authorised)
What Tier-2 jurisdictions is each broker regulated in? What about Tier-3?
Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, OANDA is none, while FXPrimus is Cyprus (CySEC Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses OANDA is British Virgin Islands (FSC Authorised), while FXPrimus is Vanuatu (VFSC Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), Cayman Islands (CIMA Authorised) and Mauritius (FSC Authorised).
Which broker offers more trading platforms?
Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that OANDA offers a Proprietary Platform and Desktop Platform (Windows), whereas FXPrimus supports a Desktop Platform (Windows) and cTrader. Neither have DupliTrade and ZuluTrade
Does OANDA offer MetaTrader? Does FXPrimus offer MetaTrader?
Both OANDA and FXPrimus offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.
How do OANDA and FXPrimus differ in terms of minimum deposit? What about average spreads and funding options?
OANDA requires a minimum deposit of $0, while FXPrimus requires a minimum deposit of $100. It's also important to ensure your broker accepts the funding options and deposit methods that work best for you. In our research, we've found that OANDA supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for funding and deposit methods, whereas FXPrimus supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw)
Which broker offers more tradeable asset classes, OANDA or FXPrimus?
When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that OANDA delivers a more diverse selection of investment options than FXPrimus, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies and Agriculturals. Neither have ETF and U.S. Stocks (CFD).
We also keep track of each broker’s total number of tradeable symbols; OANDA offers 124, and FXPrimus offers a total of 140 tradeable symbols.
Can I trade cryptocurrency with OANDA or FXPrimus?
Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that neither OANDA nor FXPrimus allow you to trade physical cryptocurrencies.
Who offers more research tools, OANDA or FXPrimus?
Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. We test each broker’s research offering to help you decide which broker is right for your technical or fundamental analysis needs. OANDA delivers the following research tools: Autochartist, Daily Market Commentary, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. FXPrimus, on the other hand, provides the tools listed here: Daily Market Commentary, Stock Charts and Social Trading / Copy Trading. Neither have Trading Central (Recognia)
Overall winner: OANDA
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We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.