Oanda is regulated in five different regional areas, making them a great choice for those looking to access global markets.
OANDA Forex Trading Review: Start trading online today |
OctaFX is an online forex trading service provider. They were previously regulated by the Financial Conduct Authority but are longer authorised to provide regulated products and services. At BrokerNotes, we do not advocate using a broker that is not regulated by a tier-1 regulator like the FCA. For more information about trading with OctaFX, we have put together an indepth OctaFX review with some of the pros and cons about this broker.
Since , Avatrade have attracted over 20, traders to their platform. For more information about trading with AvaTrade, we have put together an indepth AvaTrade review with the pros and cons about this broker.
Oanda vs Forex. How long have they been around for? Do they hold your money in a separate bank account? Have they been fined or penalised in the last five years? Where are they located? Based on these eight factors, we consider OctaFX to be the more reliable broker. As the Financial Conduct Authority are one of the most stringent regulators in the world, Oanda will have very strict guidelines to follow to ensure they protect their retail trader clients.
This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro. Oanda has been around for 25 years, while OctaFX have been around for 10 years. Our third alternative broker, AvaTrade, have been around for 15 years. Fortunately, all regulated brokers must use segregated bank accounts to hold client money.
This is one of the reasons why we only feature regulated brokers here on BrokerNotes. Most tier-1 banks like Barclays and HSBC have been around for over years and manage trillions of dollars of assets, proving that they have stood the test of time. While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is. According to their websites, Oanda is more popular with over 23, traders, while OctaFX is used by , traders. AvaTrade, in comparison, is used by , Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.
Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus. Vincent and the Grenadines. Oanda have a slightly larger variety of currency pairs with 71 pairs, compared to 28 offered by OctaFX. Oanda, for example, offer a mini account, standard account and VIP account. If you have a certain trading style e. Oanda does allow scalping and hedging. While OctaFX also allows scalping and hedging. In terms of risk management tools, neither Oanda or OctaFX offers negative balance protection.
Oanda also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy. Comparing the fee structures of different brokers can be a minefield at times. Therefore, OctaFX is the more affordable for this instrument.
- Oanda Account | Oanda Review.
- Related Logins.
- Category: Oanda account types.
- Oanda Review - Pros and Cons Uncovered;
- OANDA Corporation | Forex Trading.
Objectively, OctaFX is more reliable based on our criteria above. Oanda has a wider range of instruments to trade. Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you.
Oanda Review 2021
You can test drive their demos using the links below:. Based on 69 brokers who display this data. Welcome to BrokerNotes. This site uses cookies - here's our cookie policy. Showing 3 Brokers Filter Sort.
- interactive brokers forex spreads reviews?
- trading futures or forex;
- Oanda – The First Online Platform.
- what is binary option trader.
- What is OANDA?!
What would you like to compare? Oanda or OctaFX? OANDA provides a good balance of educational materials in both written and video formats, along with webinars conducted by its staff. Articles and video: OANDA offers ten chapters through its online course, which covers technical and fundamental analysis education. Each chapter comes with several lessons and an accompanying video, using common indicators as the learning topic. While content is not organized by experience level, the "getting started" section has basics for beginners , covering themes typically found in a platform tutorial.
OANDA's fxTrade mobile app is easy to use, provides quality market research, and includes excellent charting features 33 technical indicators. That said, like its desktop and web-based counterparts, it lacks in other areas important to everyday forex and CFD traders.
Order entry: One neat feature that stood out was the seamless transition to the trade ticket window within the charts. Deposits: Funding via the mobile app is simple, and during my testing, funds credited to the live account almost immediately showed up after the transaction was completed.
With syncing, instruments that are added in the web or desktop version of the platform automatically appear in the mobile app. Similarly, mobile chart indicators do not sync with the desktop or web version of fxTrade. Cons include a small list of tradable products and pricing that trails discount leaders.
Founded in , OANDA operates across eight global financial centers, serving clients in over countries through its entities licensed in six major regulatory jurisdictions, including the US, UK, Canada, Australia, Japan, and Singapore. For our Forex Broker Review we assessed, rated, and ranked 27 international forex brokers over a three month time period.
Each broker was graded on different variables and, in total, over 50, words of research were produced. While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time live in person or over the web for an annual update meeting. All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than. Learn more about how we test. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Steven previously served as an Editor for Finance Magnates, where he authored over 1, published articles about the online finance industry.
Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work.
The ForexBrokers. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page. These trademark holders are not affiliated with ForexBrokers. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Oanda or OctaFX?
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Rank: 17th. Publicly Traded Listed. Forex Pairs Total. Cryptocurrency Physical. Cryptocurrency CFD. Virtual Trading Demo. Proprietary Platform. Desktop Platform Windows. Web Platform. MetaTrader 4 MT4.