Deriv vs Oanda - Fees Review included
Which broker is better Deriv or Oanda? Our expert assessment conducted according to TU’s own methodology showed that Deriv is one of the top brokers in the financial market with the TU Overall Score of 8.42 out of 10. Oanda is one of the top brokers in the financial market with the TU Overall Score of 5.28 out of 10. Find out more about TU Overall Score.
| Feature | Deriv | Oanda |
|---|---|---|
Overall |
1.5 |
4.4 |
1.5 |
5 |
|
1.7 |
4.5 |
|
1.6 |
3.5 |
|
Investment Instruments |
1.8 |
4.1 |
Platforms and Charting Tools |
1.4 |
4.8 |
Deposit and Withdrawal |
1.8 |
4.2 |
Research |
1.4 |
4.7 |
Education |
1.3 |
4.5 |
Support |
1.2 |
4.8 |
Bonuses |
1.3 |
4.6 |
|
|
|
Deriv vs Oanda: Pros and Cons
Deriv is a brokerage company that started its activities in 1999. Deriv's mission is to make trading accessible. For this reason, the company has low minimum deposit requirements, but high-quality working conditions. DTrader is one of the broker's several proprietary trading platforms. Two others are DBot and DMT5. Deriv offers its clients to trade Forex assets, stocks, indices (including synthetic ones), CFDs, commodities, and options. Deriv is an international broker licensed and regulated by the following bodies: UK Financial Conduct Authority (FCA), Vanuatu Financial Services Commission (VFSC), Malta and Labuan Financial Services Authority (MFSA and Labuan FSA). The rights of traders are guarded by the Financial Commission, of which Derive is also a member.
Olsen & Associates, also known as OANDA, is a US-registered company set up to offer a plethora of financial services to clients around the world. Its history goes as far back as 1996, and it is now under regulation in four jurisdictions. The broker has licenses from different regulators, of which the United Kingdom Financial Conduct Authority (FCA) is the major one.
| Deriv | Oanda | |
|---|---|---|
| Overall Pros | Low level of the minimum deposit. | Regulated by a range of reputable financial bodies |
| A wide range of payment agents for replenishment of the deposit and withdrawal of earned funds. | Real-time news and fundamental analysis tools | |
| Availability of trading instruments of different groups: currency pairs, stocks, indices, metals, etc. | localized and multilingual phone support | |
| Broker regulation by several authorities from different countries. | User-friendly platform for new forex traders | |
| Round-the-clock client support. | Outstanding research tools | |
| Choice of three convenient trading platforms. | Financial information publicly available | |
| No commission for maintaining a trading account and using its platforms. | High educational value through written content and videos | |
| Orders get executed with no requotes | ||
| Deposit minimum as low as $1 | ||
| Overall Cons | The tutorials provided on the site may not be enough for novice traders. | No programs offering bonus |
| Deriv has only a few ways to contact support. | Slow withdrawal of funds | |
| The broker does not serve clients from several countries, such as the USA, Canada, Malaysia, Israel, and others. |
Deriv vs Oanda: Safety and Regulation
| Regulated By: | Deriv | Oanda |
|---|---|---|
US Regulation |
No |
Yes (CFTC, NFA) |
FCA (Great Britain) |
Yes |
Yes |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
Yes |
Other Regulators |
VFSC, MFSA and Labuan FSA |
European Union (regulated by the MFSA), Singapore (regulated by the MAS), Canada (regulated by IIROC), Japan (regulated by FSA) |
Deriv vs Oanda: Trading Conditions
| Trading Conditions | Deriv | Oanda |
|---|---|---|
Minimum Deposit |
$10 |
No minimum deposit |
Trading Platforms |
Deriv MT5, Deriv X, DTrader, SmartTrader, DBot |
MT4, OANDA, TradingView |
Max Leverage (Futures) |
1-1000 |
1-50 |
Supported Markets |
Currency pairs, cryptocurrencies, CFDs, indices, stocks, synthetic indices, commodities |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
Trading assets |
218+ |
120+ |
Trading Accounts |
Real account, demo account |
Standard, Core, and Swap-free |
Base Account Currencies |
Deriv MT5, Deriv X, DTrader, SmartTrader, DBot |
USD, EUR, HKD, SGD |
Deriv vs Oanda: Fees
Forex Trading Fees
| Fee | Deriv | Oanda |
|---|---|---|
Standard Account EURUSD Average Spread |
0.1 pips |
1.2 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Not supported |
not offered |
ECN Account EUR Average Spread |
Not supported |
not offered |
CFD Trading Fees
| Fee | Deriv | Oanda |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | Deriv | Oanda |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
$20 - just for bank transfer |
Inactivity Fee |
$25 charged every six months of inactivity |
After 12 months of inactivity, 10 units of your account’s currency denomination |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Deriv vs Oanda: Trading Assets
| Asset Name | Deriv | Oanda |
|---|---|---|
Overall |
218+ |
120+trading assets |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
No |
Metals |
Yes |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes |
Yes (CFD) |
Indices |
Yes |
Yes (CFD) |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Deriv or Oanda: Investment Programs
| Asset Name | Deriv | Oanda |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: Oanda or Deriv
| Deriv | Oanda | |
|---|---|---|
MT4 |
No |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
DTrader |
Oanda |
Others |
SmartTrader |
No |
|
|
|
Deriv vs Oanda: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Deriv | Oanda |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes (not for all markets) |
Crypto |
Yes |
No |
Deriv vs Oanda: Research
| Research Type | Deriv | Oanda |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
No |
Yes |
Deriv vs Oanda: Education
| Education Type | Deriv | Oanda |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
Yes |
Oanda vs Deriv: Support
| Support Features | Deriv | Oanda |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
No |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Deriv vs Oanda: Forex Bonuses and Promo
| Promo | Deriv | Oanda |
|---|---|---|
Forex Bonus |
No |
Yes (Not for all countries) |
Affiliate Program |
Deriv’s affiliate program is presented in three types: a trader can (i) receive additional earnings for the monthly income of his referees, (ii) for the probability of payments on options, as well as (iii) for inviting new users to the Deriv broker. |
Yes |
Other Promos |
Rebates and commission markdowns |
|
|
|
|
Top 5 Reviews on Oanda
-
Comment
I can describe OANDA as one of the most proper brokers on the currency market. It works quickly, there are no failures, and no market movements have a significant impact on it. I'm safe here.
-
Comment
OANDA is a good company and I plan to continue trading with them. I started with a demo account and then switched to a live one with a small deposit. OANDA successfully passed my tests in trading and withdrawals. I easily withdraw profits to my bank card.
-
Comment
I got acquainted with the OANDA broker online. Initially, I read reviews about it and decided to give this platform a try. If you do everything correctly, you can pass the verification process, although it does take some time. Then, the actual trading process began. The conditions at OANDA are average, so I can give this broker a decent rating.
-
Comment
The broker OANDA is licensed by reliable regulators, offers a wide range of financial services, boasts years of experience, multiple regulators, and significant awards. There is a vast selection of popular trading instruments, a very low minimum deposit, and qualified technical support. However, the OANDA website occasionally functions poorly. Overall, I currently have no major complaints about trading with this broker.
-
Comment
OANDA offers tight spreads, is licensed, and has a low entry threshold and fast withdrawals. The overall impression of working with this company is positive. I would recommend this broker. Another advantage is that OANDA's client support is excellent.
Top 5 Reviews on Deriv
-
Comment
I think Deriv is not the worst broker out there. They focus on futures contracts in the form of options and derivatives. The platform is quite different from what we're used to, but you get used to it over time. Order processing is fast, and I haven't noticed any major issues with the platform. Overall, Deriv offers decent conditions.
-
Comment
I'm still learning how the deriv platform works. The reviews are mostly positive, but I don't want to get into a difficult situation. I'm trading on demo for now. Moreover, I’m still new to trading, I’m just trying to learn. Deriv's technical support is good, they answer my questions professionally.
-
Comment
I learned about Deriv three years ago. The first impression was not very good, but then I started trading with this company. Now, I think that this is a really good broker. Opening trades is very easy, there are no price manipulations, and profitability is high. So I recommend this broker!
-
Comment
If you want to start trading Forex, Deriv is the broker where you should do it. Deposits and withdrawals are fast, you trade on the interbank market, and there are educational materials. Try it, choose a normal company like this one and make money. I haven’t traded with large amounts, because I’m not entirely confident in myself yet.
-
Comment
Deriv is a good company. I’ve been trading here for 4 months now, and I have no complaints about performance and operation of the platform. User account is convenient. I strongly recommend it.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!