Oanda vs AvaTrade - Fees Review included
Which broker is better Oanda or AvaTrade? Our expert assessment conducted according to TU’s own methodology showed that Oanda is one of the top brokers in the financial market with the TU Overall Score of 5.28 out of 10. AvaTrade is one of the top brokers in the financial market with the TU Overall Score of 7.16 out of 10. Find out more about TU Overall Score.
| Feature | Oanda | AvaTrade |
|---|---|---|
Overall |
4.4 |
4.6 |
5 |
4.7 |
|
4.5 |
4.4 |
|
3.5 |
4.4 |
|
Investment Instruments |
4.1 |
4.2 |
Platforms and Charting Tools |
4.8 |
4.6 |
Deposit and Withdrawal |
4.2 |
4.7 |
Research |
4.7 |
4.4 |
Education |
4.5 |
4.8 |
Support |
4.8 |
4.6 |
Bonuses |
4.6 |
3.9 |
|
|
|
Oanda vs AvaTrade: Pros and Cons
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.
AvaTrade was founded in 2006 in Dublin, Ireland. The company has offices in 150 countries. It currently has over 200, 000 registered users and processes more than 2 million transactions every month. These factors contribute to AvaTrade being a reliable and trusted broker. They are accredited across five continents and are one of the market leaders. The broker is regulated by the Australian Securities and Investment Commission (ASIC), the Japanese FSA, and the South African FSCA. AvaTrade holds accreditation by the Central Irish Bank, the Abu Dhabi Financial Services Regulatory Authority, and the British Virgin Islands Financial Services Commission. AvaTrade allows traders to trade stocks, securities, indices, cryptocurrencies, and currency pairs. In total, the offer more than 250 tools to customers.
| Oanda | AvaTrade | |
|---|---|---|
| Overall Pros | Regulated by a range of reputable financial bodies | Highly regulated broker, licenced on the territory of 5 continents |
| Real-time news and fundamental analysis tools | a wide range of trading instruments | |
| localized and multilingual phone support | Swap-free account | |
| User-friendly platform for new forex traders | Advanced copy trading tools | |
| Outstanding research tools | A lot of educational content | |
| Financial information publicly available | Low fees | |
| High educational value through written content and videos | Optioins trading | |
| Orders get executed with no requotes | ||
| Deposit minimum as low as $1 | ||
| Overall Cons | No programs offering bonus | customer service efficiency and response time |
| Slow withdrawal of funds | There is no ECN account | |
| Market maker(dealing desk) type of broker |
Oanda vs AvaTrade: Safety and Regulation
| Regulated By: | Oanda | AvaTrade |
|---|---|---|
US Regulation |
Yes (CFTC, NFA) |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
No |
Yes |
ASIC (Australia) |
Yes |
Yes |
Other Regulators |
European Union (regulated by the MFSA), Singapore (regulated by the MAS), Canada (regulated by IIROC), Japan (regulated by FSA) |
Central Bank of Ireland (No.C53877), B.V.I Financial Services Commission, South African Financial Sector Conduct Authority (FSCA No.45984), Japan - Financial Services Agency (License No.: 1662), the Financial Futures Association of Japan (License No.: 1574), Abu Dhabi Global Markets (ADGM), Israel Securities Authority (No. 514666577) |
Oanda vs AvaTrade: Trading Conditions
| Trading Conditions | Oanda | AvaTrade |
|---|---|---|
Minimum Deposit |
No minimum deposit |
$100 |
Trading Platforms |
MT4, OANDA, TradingView |
MT4, MT5, AvaTradeGo, AvaOptions |
Max Leverage (Futures) |
1-50 |
1-400 |
Supported Markets |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
Currency pairs, Forex Options, CFDs on stocks, cryptocurrencies, indices, metals, commodities |
Trading assets |
120+ |
100+ |
Trading Accounts |
Standard, Core, and Swap-free |
Standard, Professional account |
Base Account Currencies |
USD, EUR, HKD, SGD |
EUR, USD |
Oanda vs AvaTrade: Fees
Forex Trading Fees
| Fee | Oanda | AvaTrade |
|---|---|---|
Standard Account EURUSD Average Spread |
1.2 pips |
0.9 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
not offered |
Not supported |
ECN Account EUR Average Spread |
not offered |
Not supported |
CFD Trading Fees
| Fee | Oanda | AvaTrade |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | Oanda | AvaTrade |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
$20 - just for bank transfer |
No |
Inactivity Fee |
After 12 months of inactivity, 10 units of your account’s currency denomination |
$50 per quarter after 3 months of inactivity |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Oanda vs AvaTrade: Trading Assets
| Asset Name | Oanda | AvaTrade |
|---|---|---|
Overall |
120+trading assets |
1000+ |
Forex |
Yes |
Yes |
Stocks |
No |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
Yes (CFD) |
Bonds |
No |
Yes (CFD) |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
Yes |
Binary Options |
No |
No |
Oanda or AvaTrade: Investment Programs
| Asset Name | Oanda | AvaTrade |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
Yes |
Other |
No |
Bonds |
Trading Platforms: AvaTrade or Oanda
| Oanda | AvaTrade | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
Oanda |
AvaTradeGo, AvaOptions |
Others |
No |
No |
|
|
|
Oanda vs AvaTrade: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Oanda | AvaTrade |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes (not for all markets) |
Yes (not for Australian and EU clients) |
Crypto |
No |
No |
Oanda vs AvaTrade: Research
| Research Type | Oanda | AvaTrade |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
Oanda vs AvaTrade: Education
| Education Type | Oanda | AvaTrade |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
Yes |
AvaTrade vs Oanda: Support
| Support Features | Oanda | AvaTrade |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Oanda vs AvaTrade: Forex Bonuses and Promo
| Promo | Oanda | AvaTrade |
|---|---|---|
Forex Bonus |
Yes (Not for all countries) |
The broker offers its customers a one-time bonus upon first deposit (not for all markets) |
Affiliate Program |
Yes |
A trader can receive up to 400 US dollars for inviting friends. |
Other Promos |
Rebates and commission markdowns |
|
|
|
|
Top 5 Reviews on AvaTrade
-
Comment
I decided to test the waters with AvaTrade by using their demo account, and I must say, the experience was quite good. It helped me get familiar with the platform and how trading works. Now, I'm considering transitioning to a real account. However, my final verdict hinges on how smooth the deposit and withdrawal processes are. If these aspects meet my expectations, AvaTrade will definitely earn a 5-star rating from me. Otherwise, it might drop to 3 or 4 stars. Nonetheless, I appreciate the overall experience and commend the team for their efforts.
-
Comment
Been using AvaTrade for a few weeks now, and I'm happy with the support they offer. They have a couple different ways to get help, which is convenient. There's an AI-powered chatbot that can answer basic questions, and you can also contact them via WhatsApp. That's pretty cool for quick inquiries. If you have a more complex issue, you can email their customer support team. They got back to me pretty quickly with a helpful answer when I had a question about withdrawal options. However, it would be even better if you could connect directly with a customer service rep through the chatbot. Right now, it just directs you to email if your question is complex. A live chat option would be nice too, for those times when you need help right away. Overall, AvaTrade's customer support is good, with multiple ways to get help. Just wish there was a more direct way to connect with a rep through the chatbot.
-
Comment
I mostly use AvaTrade for long-term stock investing, not day trading. Their fees seem reasonable for that, and they have a good selection of stocks to choose from. Can't speak for the other features like CFDs or options, but for basic stock investing, AvaTrade seems like a decent option. AvaTrade's mobile app is handy for checking on trades on the go, but it could be smoother. Sometimes it takes a while to load charts and info, which can be frustrating. Also, placing trades on the app feels a bit clunky compared to the desktop platform. Would be nice if they updated the app to be more user-friendly.
-
Comment
While trading with AvaTrade, there was one incident. I opened a trade on the USD/CAD currency pair. The trading was going smoothly, and there were no important news releases. Suddenly, there was a sharp market movement that hit my stop-loss. The movement was 29 pips. Later, everything returned to normal, but I incurred a loss. Over the course of a month, I pursued the review of my claim and the cancellation of the losing trade. The company canceled the losing trade, acknowledging such movement as outside of the market. Overall, with AvaTrade, you can fight for and defend your rights.
-
Comment
I requested a withdrawal from Avatrade at the end of the day and received my funds the next afternoon without delay or difficulty. I was pleasantly surprised by the speed of the transaction, especially considering that some companies delay payments for several months. Moreover, I make good profits from my trades on the Avatrade platform, which works flawlessly.
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.
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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.