OANDA vs CMC Markets 2026
Both are regulated. The right choice depends on your trading style.
OANDA suits traders who value specific use cases detailed below. CMC Markets suits traders who prioritise tighter spreads, real stock ownership, more instruments (12,000 vs 300).
Head to head
| OANDA | CMC Markets | |
|---|---|---|
| Primary regulator | FCA 542574 | FCA 173730 |
| Regulation tier | tier-1 | tier-1 |
| Min deposit | None | None |
| EUR/USD spread | 1.2 pips | 0.5 pips |
| Instruments | 300+ | 12,000+ |
| MetaTrader | Yes (MT4+MT5) | Yes (MT4+MT5) |
| Copy trading | No | No |
| Real stocks | No — CFDs only | Yes |
| Inactivity fee | $10/mo after 12mo | $10/mo after 12mo |
| Founded | 1996 | 1989 |
| Headquarters | New York, USA | London, UK |
Regulation: OANDA vs CMC Markets
OANDA is regulated by FCA under licence 542574 (OANDA Europe Ltd). The FCA is a tier-1 regulator. Client funds are held in segregated accounts and negative balance protection applies.
CMC Markets is regulated by FCA under licence 173730 (CMC Markets UK plc). The FCA is a tier-1 regulator. Client funds are held in segregated accounts and negative balance protection applies.
Both brokers are regulated by tier-1 authorities. Neither has a significant regulatory advantage over the other.
Spreads and fees
OANDA's EUR/USD spread is 1.2 pips. CMC Markets's EUR/USD spread is 0.5 pips. CMC Markets offers tighter spreads on this pair.
OANDA charges an inactivity fee of $10/month after 12 months without trading. CMC Markets charges an inactivity fee of $10/month after 12 months.
Platforms and tools
Both OANDA and CMC Markets support MetaTrader 4 and 5, so algorithmic traders and EA users can use either.
Neither broker offers copy trading.
Minimum deposit
OANDA requires a minimum deposit of None. CMC Markets requires None. Both require the same initial deposit.
Note that minimum deposits can vary by account type and by which regulatory entity serves your country. Some offshore entities allow lower deposits than the tier-1 entity.
Which is better for beginners?
Both platforms are accessible to new traders, though neither is specifically designed as a beginner-only broker.
Which is better for experienced traders?
Both OANDA and CMC Markets support MetaTrader, so experienced traders can use either without restriction. CMC Markets's tighter spreads (0.5 pips) make it better for high-frequency and scalping strategies. CMC Markets offers more instruments (12,000) for portfolio diversification.
Verdict: OANDA vs CMC Markets
Choose OANDA if you want specific use cases detailed below. The FCA licence (542574) gives it strong tier-1 regulatory backing.
Choose CMC Markets if you want tighter spreads, real stock ownership, more instruments (12,000 vs 300). The FCA licence (173730) means strong tier-1 regulatory protection.
Both brokers are legitimate and regulated. The choice comes down to your specific trading requirements.
Frequently asked questions
OANDA vs CMC Markets: which is better?
OANDA is better for specific use cases detailed below. CMC Markets is better for tighter spreads, real stock ownership, more instruments (12,000 vs 300). If regulation quality is your priority, both have comparable regulation.
Is OANDA or CMC Markets safer?
Both OANDA (FCA 542574) and CMC Markets (FCA 173730) are regulated by tier-1 authorities. Both segregate client funds.
What is the minimum deposit for OANDA and CMC Markets?
OANDA minimum deposit: None. CMC Markets minimum deposit: None. Minimums vary by entity and account type.
Do OANDA and CMC Markets have MetaTrader?
Yes, both support MetaTrader 4 and MT5.