Oral finasteride is an FDA-approved prescription hair loss medication, while oral minoxidil is considered an off-label prescription for hair loss. This means oral minoxidil is not FDA-approved for that particular use, but a provider can still prescribe it if they deem it safe and appropriate for the patient.
Oral minoxidil may be preferred by men who do not want to risk the known slight chance of sexual side effects from taking finasteride. Oral minoxidil and oral finasteride have different mechanisms of action to tackle hair loss. Your provider will recommend a medication based on your medical history, lifestyle, and any particular medication preferences or side effect aversions you may have.