You’re here? Are you having trouble picking the best for US forex trading or a decent forex broker for beginners? AvaTrader or Oanda It might be challenging depending on your unique trading objectives, risk tolerance, and style.
We’ll talk about:
- Regulations and features
- Safety and trustworthiness
- Spread of market offerings and fee schedules
- Benefits, pros and cons
- Conclusion: OANDA vs AvaTrade
The following table is a list of the different features of Oanda and AvaTrade traders.
| Feature | AvaTrade | OANDA |
|---|---|---|
| Established year | 2006 | 1996 |
| Headquarters | Ireland | United States |
| Regulation | Europe: CBI, Australia: ASIC; BVI, Japan, South Africa, Abu Dhabi, Israel | ASIC, CIRO, JFSA, MAS, FCA, CFTC, MiFID |
| Markets offered | Up to 1250+ Forex, Commodities, Stocks, Crypto, Indices, FX Options, ETFs, Bonds, Spread Betting | Up to 120+ trading assets Forex, Crypto (spot and CFDs – availability depends on regulations), Indices, Commodities, Metals |
| Account types | Retail account, Standard account, Professional account | Standard account, Core account, and Swap-free account |
| Demo account | Yes | Yes |
| Minimum deposit requirement | $100 | $0 |
| Proprietary trading platform | AvaTradeGO, AvaOptions, | OANDA mobile, WebTrader, |
| Trading platforms | WebTrader, MT4, MT5, AlgoTrader, | MetaTrader 4 (MT4) |
| Copy trading | Yes TradingCentral, DupliTrade | Yes TradingView |
| Deposit methods | Credit Card, Debit Card, Wire Transfer, | Debit card, Bank wire transfer, ACH |
| E-payments – Yes (not for Australian and EU clients) restrictions apply | E-wallets Yes (not for Australian and EU clients) | |
| Withdrawal methods | Credit Card, Debit Card, Wire Transfer, | Debit card, Bank wire transfer, ACH |
| E-payments – Yes (not for Australian and EU clients) restrictions apply | E-wallets Yes (not for Australian and EU clients) | |
| Base account currencies | USD, EUR, GBP, CAD, AUD | USD, EUR, HKD, SGD |
| Maximum leverage | Up to 1:400 varies by region | Depending on regulation 20:1 |
| Minimum trade size | 0.01 lots | 0.01 lots |
| Deposit fee | No | No |
| Withdrawal fees | $0 | $20 for a bank wire transfer |
| Commissions | Spread-based from 0.9 pips | Core pricing: commission + spread; Spread-only pricing 1.2 pips |
| Inactive fee | $50 per quarter after 3 months of inactivity | Following a year of inactivity, ten units of your currency denomination |
| Account fee | No | No |
| CFDs trading fees | Floating spread | Floating spread |
| Customer support | 24/5 chat, phone, and Email | 24/5 support Email, chat, phone |
Oanda broker
Regulated in four jurisdictions, Olsen & Associates, often known as OANDA, has been providing financial services since 1996. The best forex trading broker is the Financial Conduct Authority (FCA) of the United Kingdom as its principal regulator, enforcing high requirements for client safety and operational openness.
OANDA is regulated by the following Tier-1 regulators
- Australian Securities & Investment Commission ASIC
- Canadian Investment Regulatory Organization CIRO
- Japanese Financial Services Authority JFSA
- Monetary Authority of Singapore MAS
- Financial Conduct Authority FCA
- Commodity Futures Trading Commission CFTC
- And regulated in the European Union via the MiFID passport system
Security measures of Oanda
- Oanda Broker offers segregated bank accounts.
- OANDA provides negative balance protection to eligible retail clients.
- If you are not eligible, consider using stop-loss orders to limit potential losses.
- OANDA offers two-step verification for enhanced security.
Benefits of OANDA for trading
- OANDA was established in 1996 and is governed by laws in seven Tier-1 nations.
- Its center, MarketPulse, provides regular analytical updates and high-caliber market research pieces.
- This audio series, “Market Insight,” is a stand-alone production.
- The OANDA Trade mobile app has a wide range of features and is very easy to use.
- It offers a staggering selection of research tools, market analysis, and news.
- The availability of the TradingView platform in multiple countries allows for a variety of algorithmic trading alternatives, such as integration with the Algo Labs API.
Pros of Oanda
- A one-dollar deposit is the minimum.
- A wide range of the most widely used trading instruments.
- Several trustworthy and respectable financial authorities.
- Accepts U.S. clients.
- Regulated by FCA and NFA.
- Well-designed platforms.
- Superior research offerings.
Cons of Oanda
- No account security for customers in the US.
- For clients in the US or the UK, there are no guaranteed stop losses.
- U.S. traders are unable to trade single-stock CFDs.
- Numerous additional trading costs.
- Lack of cent accounts.
- Lack of bonus programs.
Learn more: What is Forex Trading and How Does it Work
Avatrade broker
AvaTrade was founded in Dublin, Ireland, in 2006. It now has operations in 150 countries, services more than 200,000 registered users, and handles 2 million transactions per month. The best forex brokers for beginners are regulated by ASIC, the Japanese FSA, and the South African FSCA, with accreditation on five continents.
Its legitimacy is increased by its accreditation by the BVI FSC, Abu Dhabi FSRA, and Central Irish Bank. With more than 250 instruments for traders, AvaTrade provides trading in stocks, equities, indices, cryptocurrencies, currency pairs, and more.
The following Tier-1 regulators regulate OANDA:
- EU – Central Bank of Ireland CBI
- Australian Securities & Investments Commission ASIC
- British Virgin Islands Financial Services Commission BVI
- Financial Services Agency, FSC
- Financial Futures Association of Japan FSA, FFAJ
- South African Financial Sector Conduct Authority FSCA
- Abu Dhabi Global Markets ADGM
- Financial Regulatory Services Authority FRSA
- Israel Securities Authority ISA
Security measures of AvaTrade
- Avatrade Real Account holders can enable two-factor authentication (2FA).
- Avatrade offers segregated bank accounts and negative balance protection.
Benefits of Avatrade for trading
- Price alerts, sophisticated charting options, and easily customizable reports are all provided via the desktop trading interface.
- Avatrade serves traders of all skill levels by offering a demo account and a wealth of instructional tools.
- The CFD broker Avatrade maximizes possible profits by charging low fees for CFD trading.
- Avatrade provides top-notch research and trading tools to support well-informed trading choices.
- Avatrade expedites and simplifies the process of opening an account.
- A completely digital account opening process guarantees an expedient start.
AvaTrade Pros
- Regulated by the ASIC and FSCA.
- Provides negative balance protection.
- Offers commission-free trading.
AvaTrade Pros
- Do not have 24/7 customer support.
- Leisurely processing of deposits and withdrawals.
- Charges inactive account fees and administration fees.
Conclusion
OANDA’s rating of 4.5/5 highlights its reliability and suitability for traders of all skill levels, while AvaTrade’s rating is 4.9/5, and makes it a good choice for new traders. Traders can choose AvaTrade or OANDA depending on their needs and preferences.
Pro Tip
Are you ready to get started? Open an account with AvaTrade or OANDA today! Check out our trusted Forex broker to know more reviews and discover other wide range of offerings in forex, stocks, cryptocurrencies, and more to improve your trading strategy!
Frequently asked questions
1. Is my money safe in Avatrade?
Yes, Avatrade is a trusted broker regulated by 9 jurisdictions.
2. Is my money safe in Oanda?
Yes, Oanda is a reliable broker regulated by 4 jurisdictions.
3. How old is Avatrade?
Avatrade was established in 1996.
4. How old is Oanda?
Oanda was established in 2006.
5. How do we test?
We test based on regulation, security measures, fees and commissions, customer support, and account types and trading platforms offered by brokers.
