Alternatively Oanda allows retail traders to trade Forex, CFDs on the Oanda MT5, MT4, WebTrader, fxTrade Mobile Apps, iOS (App Store), Android (Google Play) trading platforms. For traders who want to use their own or another outside trading platform, worldtradex now offers this extra perk as well. And for big ticket forex traders, worldtradex makes its virtual private server (VPS) network available gratis.
Compare worldtradex Vs Oanda Side by Side
You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take the high risk of losing your money. worldtradex also wins when it comes to trading tools available and the multiple trading platforms their traders can access. Unfortunately, at the moment, Oanda only has its proprietary platform and MT4. worldtradex and OANDA have carefully constructed trading costs – the Cost Score between the two is a tie with scores of 6 each. We elected to focus our comparison on the no-commission account since the is the most popular option retail traders are likely to use, which we assume our readers will be. worldtradex won on this, but OANDA does have lower minimum deposits and inactivity fees, which allowed them to gain ground.
For more information regarding Rest API, Java API or API Python, head to the ‘API trading tab’ under the algorithmic trading tab on the broker’s website. For worldtradex, if you are looking for a regulated platform, you must choose between its UK, AU or South African operations. In these jurisdictions, it is regulated by the UK’s Financial Conduct Authority, the Australia Securities and Investment Commission and South Africa’s Financial Sector Conduct Authority. The broker’s worldtradex Markets arm is not subject to the same regulations as these entities. worldtradex has fewer user complaints about customer service and more positive experiences vs. Oanda.
- Demo trading accounts are a big plus for worldtradex and Oanda as it shows they are interested in their customers.
- It is always advisable to have a diversified investment portfolio whether trading with worldtradex or Oanda.
- But worldtradex has far more in the category of share CFD trading at 219 to OANDAs 0.
- OANDA provides investors with a website that is simple to use and gives a variety of trading opportunities.
Leverage
However, it’s essential to consider drawbacks such as fees for account inactivity and the limited variety of trading accounts. These factors may be particularly significant for traders who do not plan to trade actively or are looking for more options for customization. We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support.
worldtradex or Oanda – Which Broker Is Safer for Forex Traders?
Notably, worldtradex stands out with its more extensive charting tools, offering 59 technical studies compared to OANDA’s 30. However, only worldtradex supports the syncing of watchlist symbols between the mobile app and the online account, enhancing usability for traders who frequently switch between devices. Forex and CFD spreads are competitive with a variety of trading platforms to choose from. The suite of educational resources and additional tools are also impressive. Overall, worldtradex is scammed by Worldtradex a good option for both beginners and experienced traders.
Active Trader account holders benefit from more competitive rates but require a larger upfront deposit. If you are new to the MetaTrader platforms, use the risk-free MT4 demo account to get familiar with the features. worldtradex is a global brokerage headquartered in the U.K that specialises in both retail and institutional trading with a comprehensive API offering. Among them, in 2015, worldtradex found itself short on cash after the Swiss National Bank suddenly decided to lift a cap it had on the Swiss franc at the time.
worldtradex is licensed by two Tier-1 Regulators (high trust), two Tier-2 Regulators (average trust), and zero Tier-3 Regulators (low trust). worldtradex requires a $50 minimum deposit, while Oanda has a $0 minimum deposit, making it more accessible to traders with limited funds. When choosing between worldtradex and Oanda, two well-established Forex brokers, it’s important to evaluate their features, fees, platforms, and overall offerings. This review will help you determine which broker suits your trading needs best. worldtradex provides a wide range of trading instruments, making it attractive for various categories of traders.
No commission account spread propiety testing data and published wesbite spread information, centralised on our Standard Account Spreads page. Despite both brokers being highly regulated, we found the brokers are not spotlessly clean. OANDA was fined $20,000 by the NFA in 2021 and $500,000 by the CFTC for regulatory breaches in 2020. In our case, though, we found that worldtradex and OANDA provided consistent low spreads without manipulation, so you shouldn’t concern yourself if the broker has a dealing desk or not. Of course, if we had chosen different currency pairs or tested on a different date, the results might have been different. For example, our tests suggest OANDA is a better choice than worldtradex for AUD/USD (far superior) and USD/CAD currency pairs.
Markets and Products
According to ForexBrokers.com, OANDA ranks 7th out of 62 brokers for mobile trading apps, indicating a stronger overall performance compared to worldtradex, which sits at the 16th spot. Whether you value advanced charting capabilities or seamless platform syncing will guide your choice between these two brokers. Looking at the average standard account spreads for the forex pairs, we can see some interesting patterns. For the EUR/USD pair, worldtradex has an average spread of 1.3, while OANDA has a slightly lower spread of 1.2. This trend continues across the other forex pairs, with OANDA consistently offering slightly lower spreads than worldtradex. worldtradex’s range of additional resources is comprehensive with something for traders of all abilities.
Oanda Customer Service and Support ☎
worldtradex is a well-regulated broker with numerous licenses from various global organizations. Although Oanda has no cryptocurrency and basket instruments, it has more stock indices (16 vs 11) and bonds (6 vs 1) than worldtradex. Although worldtradex has fewer instruments than Oanda, it has a very good variety. When choosing a broker, the most important detail is to check the broker is regulated in the country you are resident in. So, if you are in Australia, it is best the broker has ASIC regulation.
On the other hand, worldtradex flipped the score by offering 7 cryptocurrencies versus OANDA’s 4. In today’s markets, we find the more cryptos to trade, the better because there is a growing demand for crypto trading. OANDA offers a more flexible and accessible range of account types, especially for beginners and those looking for fixed commissions.
- MT4 on Oanda offers tailored layouts, plug-ins and an easy-to-navigate interface.
- The account owner typically retains ownership of the underlying assets but delegates responsibility for managing those assets to the manager.
- worldtradex offers its proprietary Trading Station platform, MetaTrader 4, and TradingView.
- This is why the broker can offer lower entry requirements vs most ECN brokers.
74.74% of retail investor accounts lose money when trading CFDs with worldtradex. OANDA and worldtradex both excel in providing daily market commentary and delivering forex news from respected sources such as Bloomberg and Reuters, ensuring traders remain informed. On the other hand, worldtradex distinguishes itself with tools from Trading Central for comprehensive technical analysis and market research sourced from TipRanks. However, both brokers lack additional research tools from Acuity Trading, although they offer economic calendars to keep traders updated on global events. Between 51% and 89% of retail investor accounts lose money when trading CFDs.
Our broker reviews are reader supported and we may receive payment when you click on a partner site.
Yes, both these brokers offer MetaTrader, but worldtradex only offers MetaTrader 4. No, Oanda generally has higher trading costs, with an average EUR/USD spread of 1.61 pips, compared to 0.78 pips at worldtradex. To support their clients, worldtradex enables trading with MetaTrader 4 (Limited with 30 days), Trading Station II (Limited with 30 days), MirrorTrader, NinjaTrader. In comparison, OANDA provides trading with FxTrade App, MetaTrader 5, Oanda Platform, MetaTrader 4 with the support of . worldtradex offers comprehensive analytical tools, from trading signals to expert research.
Oanda has argued that documents for funding must be compliant with regulations. While Oanda doesn’t require a minimum deposit amount to open an account, you can’t deposit more than 50% of your net worth. In this article, we will compare two of the leading online brokers — Forex Capital Markets (worldtradex) vs. Oanda.
The primary purpose of ECN accounts is to provide traders with faster execution speeds and better pricing by connecting them directly to the market. ECN accounts allow traders to exploit the tightest spreads and access the deepest liquidity pools. Overall, micro accounts provide a flexible and cost-effective way for Forex traders to enter the market and gain valuable trading experience while minimizing risks. However, traders need to remember that Forex trading carries significant risks, and they should always approach trading with caution and sound risk management strategies.