FP Markets vs Oanda: Singapore Broker Comparison 2026

For Singapore traders, spread costs directly impact profitability. FP Markets offers Raw accounts with spreads from 0.0 pips plus a $7 commission per lot, while its Standard account has spreads from 1.0 pips with no commission. Oanda’s spreads are variable, averaging 1.0–1.5 pips for EUR/USD and slightly higher for USD/SGD. For high-volume traders in Singapore, FP Markets’ Raw account is more cost-effective, especially when trading major pairs. Oanda’s spreads are competitive but not as low for active scalpers.

Singapore traders require robust platforms for fast execution. FP Markets provides MetaTrader 4, MetaTrader 5, and cTrader, all popular among sophisticated investors. Oanda offers its proprietary platform and MT4. FP Markets’ cTrader is ideal for algorithmic traders, while Oanda’s platform is user-friendly for beginners. Both support mobile trading, but FP Markets’ multi-platform support gives it an edge for Singapore traders who need advanced charting and automated trading tools.

FP Markets uses ECN/STP execution with no dealing desk, offering average execution under 40ms and minimal slippage. Oanda uses a market maker model with variable execution speeds, but still reliable for most traders. For Singapore scalpers and high-frequency traders, FP Markets’ faster execution and lower latency provide a clear advantage.

Oanda is regulated by MAS under a Capital Markets Services Licence, offering Singapore traders local oversight and protection. FP Markets is regulated by ASIC and CySEC, not MAS, but accepts Singapore clients under its international license. While MAS regulation provides extra comfort, FP Markets’ ASIC regulation is also reputable. Singapore traders should note that Oanda’s MAS license means it adheres to local rules, while FP Markets offers more flexibility in leverage and instruments.

Singapore traders can fund accounts using PayNow, Bank Transfer, and Credit Card at both brokers. FP Markets supports instant PayNow deposits with no fees, and bank transfers are processed within 1 day. Oanda also accepts PayNow but bank transfers may take 1-2 business days. Credit card deposits are available at both, with FP Markets offering faster processing. Withdrawals are free at FP Markets, while Oanda may charge for bank transfers. For Singapore traders, FP Markets’ faster deposit options and zero withdrawal fees are advantageous.

Both FP Markets and Oanda offer Islamic (swap-free) accounts for Muslim traders in Singapore. FP Markets provides swap-free accounts across all account types without additional fees, while Oanda offers Islamic accounts on request with no swap charges. Both comply with Sharia law by not charging or paying overnight interest. For Singapore Muslim traders, FP Markets’ automatic swap-free option is more convenient, while Oanda’s request-based process is also straightforward.

FP Markets offers 24/7 customer support via live chat, email, and phone, with dedicated support for Singapore traders in English. Oanda provides 24/5 support with live chat and phone, plus a local Singapore number. FP Markets’ 24/7 support is better for traders who need help during weekends or after hours, common among Singapore’s active traders.