EagleFX vs Oanda - Fees Review included
Which broker is better EagleFX or Oanda? Our expert assessment conducted according to TU’s own methodology showed that EagleFX is one of the top brokers in the financial market with the TU Overall Score of 6.13 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 | EagleFX | Oanda |
|---|---|---|
Overall |
2.5 |
4.4 |
1 |
5 |
|
4 |
4.5 |
|
3.8 |
3.5 |
|
Investment Instruments |
1 |
4.1 |
Platforms and Charting Tools |
2.7 |
4.8 |
Deposit and Withdrawal |
2.3 |
4.2 |
Research |
2.4 |
4.7 |
Education |
2.9 |
4.5 |
Support |
4 |
4.8 |
Bonuses |
1.5 |
4.6 |
|
|
|
EagleFX vs Oanda: Pros and Cons
EagleFX assists traders in trading on the Forex market. The company is registered in the Dominican Republic and provides financial services to traders from all over the world. EagleFX offers clients the following instruments: stocks, currency pairs, cryptocurrencies, commodities, and indices. Trading using the service of copying transactions, automated programs, and PAMM accounts is not provided.
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.
| EagleFX | Oanda | |
|---|---|---|
| Overall Pros | Registration with the site and opening an account take only a few minutes. | Regulated by a range of reputable financial bodies |
| The demo account is free and available to traders for an unlimited amount of time. | Real-time news and fundamental analysis tools | |
| You can contact support at any time of the day, any day of the week. | localized and multilingual phone support | |
| The STP technology is used for fast order execution. | User-friendly platform for new forex traders | |
| You can trade using PCs, tablets, and mobile devices. | Outstanding research tools | |
| To protect clients’ funds, the broker uses a cold storage method. | Financial information publicly available | |
| High educational value through written content and videos | ||
| Orders get executed with no requotes | ||
| Deposit minimum as low as $1 | ||
| Overall Cons | There are no passive income programs. | No programs offering bonus |
| There are no educational articles, videos, or courses on the broker’s website. | Slow withdrawal of funds | |
| Not regulated at all |
EagleFX vs Oanda: Safety and Regulation
| Regulated By: | EagleFX | Oanda |
|---|---|---|
US Regulation |
No |
Yes (CFTC, NFA) |
FCA (Great Britain) |
No |
Yes |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
Yes |
Other Regulators |
No |
European Union (regulated by the MFSA), Singapore (regulated by the MAS), Canada (regulated by IIROC), Japan (regulated by FSA) |
EagleFX vs Oanda: Trading Conditions
| Trading Conditions | EagleFX | Oanda |
|---|---|---|
Minimum Deposit |
$10 |
No minimum deposit |
Trading Platforms |
MetaTrader 4 for Windows, iOS, Android, WebTrader |
MT4, OANDA, TradingView |
Max Leverage (Futures) |
1-500 |
1-50 |
Supported Markets |
Fiat currency, cryptocurrency, indices, commodities, shares |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
Trading assets |
102+ |
120+ |
Trading Accounts |
Real, demo-account |
Standard, Core, and Swap-free |
Base Account Currencies |
USD, BTC, GBP, and EUR |
USD, EUR, HKD, SGD |
EagleFX vs Oanda: Fees
Forex Trading Fees
| Fee | EagleFX | Oanda |
|---|---|---|
Standard Account EURUSD Average Spread |
0.7 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 | EagleFX | Oanda |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | EagleFX | Oanda |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
$20 - just for bank transfer |
Inactivity Fee |
No |
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.
EagleFX vs Oanda: Trading Assets
| Asset Name | EagleFX | Oanda |
|---|---|---|
Overall |
102+ |
120+trading assets |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
No |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
EagleFX or Oanda: Investment Programs
| Asset Name | EagleFX | Oanda |
|---|---|---|
Copy Trading |
No |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: Oanda or EagleFX
| EagleFX | Oanda | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
No |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
Oanda |
Others |
No |
No |
|
|
|
EagleFX vs Oanda: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | EagleFX | Oanda |
|---|---|---|
Bank Transfer |
No |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
No |
Yes (not for all markets) |
Crypto |
Yes |
No |
EagleFX vs Oanda: Research
| Research Type | EagleFX | Oanda |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
Yes |
E-Mail Reports |
No |
Yes |
EagleFX vs Oanda: Education
| Education Type | EagleFX | Oanda |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
No |
Yes |
Videos |
No |
Yes |
Cent account |
No |
Yes |
Oanda vs EagleFX: Support
| Support Features | EagleFX | Oanda |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
Callback |
No |
EagleFX vs Oanda: Forex Bonuses and Promo
| Promo | EagleFX | Oanda |
|---|---|---|
Forex Bonus |
No |
Yes (Not for all countries) |
Affiliate Program |
EagleFX has the multi tier affiliate program. Tire 5 affiliates gets a $0,05 per lot traded, Tire 4 $0,15 per lot traded, Tier 3 $0,3 per lot traded, Tier 2 $0,50 per lot traded and Tier 1 $4 per lot traded |
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 EagleFX
-
Comment
I use the services of Eagle FX and have some comments. Overall, the platform is not bad, I compared it with other brokers. I'm glad it's an honest company. For me, this income was not difficult. I continue to trade.
-
Comment
I work with several brokers at once. Order execution at EagleFX sometimes slows down in a volatile market, but I have seen this with many brokers. Also, there are withdrawal delays, but not long. Quotes are normal, as with other brokers. I didn’t notice any drawings or quote manipulation.
-
Comment
Before opening an account with EagleFX, I worked with other brokers, but my results were not very good, and once I was even severely deceived. So, from the very beginning, I was very cautious. But fortunately, my fears were not confirmed. I already have results, and I am not worried about anything like I was six months ago. I have withdrawn profits of about $500 during this time. Therefore, I consider EagleFX to be quite good.
-
Comment
EagleFX offers conditions under which it is possible to increase a deposit. Of course, this requires a trading strategy. By the way, any strategy can be used here because there are no restrictions. The platform works quickly, you can trade both intraday and medium-term. EagleFX withdraws profits without any problems.
-
Comment
A drawback of the EagleFX broker is the lack of diversity in account types. The company offers only one type of account, the classic one. However, the conditions are quite good. The spreads on various assets are low, contributing to increased profitability. Positive swaps can be selected, making medium-term trading relevant. The customer support at EagleFX is weak, but I have only encountered it twice.
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!