Oanda vs InstaForex - Fees Review included
Which broker is better Oanda or InstaForex? 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. InstaForex is one of the top brokers in the financial market with the TU Overall Score of 8.22 out of 10. Find out more about TU Overall Score.
| Feature | Oanda | InstaForex |
|---|---|---|
Overall |
4.4 |
4.5 |
5 |
4.5 |
|
4.5 |
3.5 |
|
3.5 |
4.6 |
|
Investment Instruments |
4.1 |
4.8 |
Platforms and Charting Tools |
4.8 |
4.4 |
Deposit and Withdrawal |
4.2 |
5 |
Research |
4.7 |
4.6 |
Education |
4.5 |
4.8 |
Support |
4.8 |
4.7 |
Bonuses |
4.6 |
5 |
|
|
|
Oanda vs InstaForex: 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.
InstaForex is an international company that has been providing services in the Forex currency market since 2007. Today, more than 7 million traders worldwide use the services of this broker. InstaForex offers its clients access to 300 trading instruments, such as PAMM Investment and ForexCopy system to copy trading of successful traders. The company’s activity is regulated by the British Virgin Islands Financial Services Commission (FSC) in accordance with the Securities and Investment Business Act. InstaForex has a reputation for responsible and professional trading practices. In 2016, the company received the UK Forex Best Social Broker Award, in 2018 was named the Best Forex Platform for Trading Cryptocurrency, and in 2019 Best Asian Broker and the Best Eastern European broker.
| Oanda | InstaForex | |
|---|---|---|
| Overall Pros | Regulated by a range of reputable financial bodies | Regulated Forex Broker |
| Real-time news and fundamental analysis tools | 2500+ trading assets | |
| localized and multilingual phone support | Individual online training | |
| User-friendly platform for new forex traders | Advances news and analytitc platforms | |
| Outstanding research tools | Free VPS service | |
| Financial information publicly available | High exacution speed | |
| High educational value through written content and videos | No deposit and withdrawal fees | |
| Orders get executed with no requotes | Deposits in crypto | |
| Deposit minimum as low as $1 | $1000 No deposit bonus (Only for international entety) | |
| Overall Cons | No programs offering bonus | High spreads and trading fees |
| Slow withdrawal of funds | Low exacution speed |
Oanda vs InstaForex: Safety and Regulation
| Regulated By: | Oanda | InstaForex |
|---|---|---|
US Regulation |
Yes (CFTC, NFA) |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
No |
Yes |
ASIC (Australia) |
Yes |
No |
Other Regulators |
European Union (regulated by the MFSA), Singapore (regulated by the MAS), Canada (regulated by IIROC), Japan (regulated by FSA) |
FSC (British Virgin Islands) |
Oanda vs InstaForex: Trading Conditions
| Trading Conditions | Oanda | InstaForex |
|---|---|---|
Minimum Deposit |
No minimum deposit |
$1 |
Trading Platforms |
MT4, OANDA, TradingView |
MT4, MT5, InstaForex MultiTerminal |
Max Leverage (Futures) |
1-50 |
1:1000, 1:30 (for EU clients) |
Supported Markets |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
Forex, CFDs on indices, commodities, crypto, metals, stocks |
Trading assets |
120+ |
2500+ |
Trading Accounts |
Standard, Core, and Swap-free |
Insta.Standard, Insta.Eurica, Cent.Standard, Cent.Eurica for international entity, ECN, ECN PRO, ECN VIP - For EU entity. |
Base Account Currencies |
USD, EUR, HKD, SGD |
EUR, USD |
Oanda vs InstaForex: Fees
Forex Trading Fees
| Fee | Oanda | InstaForex |
|---|---|---|
Standard Account EURUSD Average Spread |
1.2 pips |
3 pips |
Standard Account Fee |
$0 |
0.03-0.07% |
ECN/STP Account Fee |
not offered |
Raw spread (Just for EU Clients) |
ECN Account EUR Average Spread |
not offered |
Raw spread (Just for EU Clients) |
CFD Trading Fees
| Fee | Oanda | InstaForex |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | Oanda | InstaForex |
|---|---|---|
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 |
$10 per month after 12 monthes without trades |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Oanda vs InstaForex: Trading Assets
| Asset Name | Oanda | InstaForex |
|---|---|---|
Overall |
120+trading assets |
2500+ |
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 |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Oanda or InstaForex: Investment Programs
| Asset Name | Oanda | InstaForex |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
Yes |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: InstaForex or Oanda
| Oanda | InstaForex | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
Oanda |
InstaForex |
Others |
No |
No |
|
|
|
Oanda vs InstaForex: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Oanda | InstaForex |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes (not for all markets) |
Yes |
Crypto |
No |
Yes |
Oanda vs InstaForex: Research
| Research Type | Oanda | InstaForex |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
Oanda vs InstaForex: Education
| Education Type | Oanda | InstaForex |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
Yes |
InstaForex vs Oanda: Support
| Support Features | Oanda | InstaForex |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
Messendgers |
Oanda vs InstaForex: Forex Bonuses and Promo
| Promo | Oanda | InstaForex |
|---|---|---|
Forex Bonus |
Yes (Not for all countries) |
$1000 no deposit bonus |
Affiliate Program |
Yes |
Yes |
Other Promos |
Rebates and commission markdowns |
|
|
|
|
Top 5 Reviews on InstaForex
-
Comment
Copying trades on InstaForex is another interesting passive income opportunity I have really been active on after learning about it. I am not saying that all the strategies I copied from the expert traders on the platform resulted in profits but a higher percentage was profitable. To be on a safer end when copying trades, it is important that you evaluate the trader's profile and performance in the market before you choose to compare them. I always assess and evaluate the traders trading history. Check how many days the trader has been trading and total profit and equity. Copy multiple traders to spread your risk and make sure the traders you follow employ a variety of trading techniques. If you would rather close your trades within a 12-hour window or the same day, then follow day traders.
-
Comment
It is important that you closely monitor the market before opening a position if you are trading within a one-day time frame. I use the Bolinger bands, stochastic oscillator, and average directional index and they are on my top indicators list when I choose the 1 day time frame. The average directional index helps me determine a trend momentum and strength, the Bollinger bands help to identify price patterns, and the stochastic oscillator compares the closing price of an instrument to the range of its price over a certain time.
-
Comment
You can immediately access the InstaForex web terminal to start trading. You can login as a client or guest. The guest account is mostly a paper account and it is one of my favorites especially when I want to test a trading strategy. The web terminal is sectioned in a very concise manner. You select between the classic to view the instrument listing and their current prices and can immediately navigate to the charts of the pairs you select by clicking on the chart symbol at the right-hand end of the listed assets. The terminal is arranged so users can identify and know where to be depending on what they want to do atthe moment. So if the MetaTrader platforms might look hectic for you as a new trader, the InstaForexForex terminal can provide with a friendly and colourful interface to trade.
-
Comment
I liked the copy trading service from InstaForex. Perhaps traders who don't have much trading experience expect to make a profit of up to 100 percent, but that's not the case! So I'm very happy to have a return of up to 20 percent per month with this service; these are good overall results.
-
Comment
InstaForex can be considered a reliable broker. I have been trading here for over a year and have withdrawn my profits more than once. There are problems, but not such as to accuse this project of fraud. The platform works almost flawlessly, although slippages and gaps sometimes occur. InstaForex withdraws profits without any problems, but you need to take fees into account.
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.
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!