Oanda vs LiteForex - Fees Review included
Which broker is better Oanda or LiteForex? 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. LiteForex is one of the top brokers in the financial market with the TU Overall Score of 6.38 out of 10. Find out more about TU Overall Score.
| Feature | Oanda | LiteForex |
|---|---|---|
Overall |
4.4 |
4.4 |
5 |
4.8 |
|
4.5 |
3.7 |
|
3.5 |
3.8 |
|
Investment Instruments |
4.1 |
4.5 |
Platforms and Charting Tools |
4.8 |
4.5 |
Deposit and Withdrawal |
4.2 |
5 |
Research |
4.7 |
4 |
Education |
4.5 |
4.4 |
Support |
4.8 |
4.7 |
Bonuses |
4.6 |
4.1 |
|
|
|
Oanda vs LiteForex: 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.
The LiteForex broker is a high-tech company that constantly offers innovative solutions for active and passive trading. The LiteForex group of companies was incorporated in 2005, and it has risen through the ranks to become a market leader. Today, LiteForex is an online ECN broker with unique technical solutions for transferring transactions to the interbank and directly to liquidity providers.
| Oanda | LiteForex | |
|---|---|---|
| Overall Pros | Regulated by a range of reputable financial bodies | Correspondence to the A-Book model, STP (straight-through processing) and ECN technologies for processing client orders and pin spreads with instant market execution with minimal slippage in both directions |
| Real-time news and fundamental analysis tools | ||
| localized and multilingual phone support | ||
| User-friendly platform for new forex traders | ||
| Outstanding research tools | ||
| 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 | No programs offering bonus | |
| Slow withdrawal of funds |
Oanda vs LiteForex: Safety and Regulation
| Regulated By: | Oanda | LiteForex |
|---|---|---|
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) |
European MiFID directive (license No. 093/08) |
Oanda vs LiteForex: Trading Conditions
| Trading Conditions | Oanda | LiteForex |
|---|---|---|
Minimum Deposit |
No minimum deposit |
$50 |
Trading Platforms |
MT4, OANDA, TradingView |
MT4, MT5, MultiTerminal, Sirix Webtrader |
Max Leverage (Futures) |
1-50 |
1-500 |
Supported Markets |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
Forex, assets of stock and commodity markets, cryptocurrencies |
Trading assets |
120+ |
200+ |
Trading Accounts |
Standard, Core, and Swap-free |
Demo, Classic, ECN |
Base Account Currencies |
USD, EUR, HKD, SGD |
USD, EUR, CHF, MBT |
Oanda vs LiteForex: Fees
Forex Trading Fees
| Fee | Oanda | LiteForex |
|---|---|---|
Standard Account EURUSD Average Spread |
1.2 pips |
1.8 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
not offered |
$5 per lot |
ECN Account EUR Average Spread |
not offered |
0.1 pips |
CFD Trading Fees
| Fee | Oanda | LiteForex |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | Oanda | LiteForex |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
$20 - just for bank transfer |
2-3% |
Inactivity Fee |
After 12 months of inactivity, 10 units of your account’s currency denomination |
0%. Accounts are archived after three months of inactivity but can be recovered |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Oanda vs LiteForex: Trading Assets
| Asset Name | Oanda | LiteForex |
|---|---|---|
Overall |
120+trading assets |
200+ |
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 |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Oanda or LiteForex: Investment Programs
| Asset Name | Oanda | LiteForex |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: LiteForex or Oanda
| Oanda | LiteForex | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
Oanda |
No |
Others |
No |
SiriX Webtrader |
|
|
|
Oanda vs LiteForex: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Oanda | LiteForex |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes (not for all markets) |
Yes |
Crypto |
No |
Yes |
Oanda vs LiteForex: Research
| Research Type | Oanda | LiteForex |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
No |
Oanda vs LiteForex: Education
| Education Type | Oanda | LiteForex |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
LiteForex vs Oanda: Support
| Support Features | Oanda | LiteForex |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
FB Messenger, Telegram |
Oanda vs LiteForex: Forex Bonuses and Promo
| Promo | Oanda | LiteForex |
|---|---|---|
Forex Bonus |
Yes (Not for all countries) |
No |
Affiliate Program |
Yes |
This multilevel affiliate program allows you to get remuneration up to $50 for each client (referral) + 10% of the sub-partner's profit. |
Other Promos |
Rebates and commission markdowns |
ZERO Fees — reimbursement to the trading account by the debited payment system for the transfer of a commission via replenishment or withdrawal |
|
|
|
Top 5 Reviews on LiteForex
-
Comment
I have been seeing post everywhere and a lot of people keep saying reach out to them and eventually I did and it turned out to be legit. now my lost bitcoin is recovered, they have the best bitcoin trading and funds recovery software, Thank you victimsrecoveryeducation@cyberservices.com
-
Comment
I'm happy with LiteForex. The quality of the trading platform is normal. There are requotes, but they are quite rare. I withdrew $500 for the first time without any delays. I can remember one negative thing: there was disconnection from the server, which lasted more than 3 minutes. LiteForex support has resolved this issue and I hope that there will be no more problems like this.
-
Comment
Lite Forex is a very bad broker. I traded with it last year and it kept getting worse and worse with each trade. Stop losses were placed due to the spontaneous expansion of spreads, increase and change into negative swaps on some popular trading assets. There were no good specialists in technical support who could solve the problem. I advise you to run away from Lite Forex.
-
Comment
If you got here, quit trading with LiteForex. You won't earn anything here, you'll only lose your money. I tried to trade with LiteForex twice and lost my deposit both times. You open a trade, but it constantly goes against you. Even if there is a trend. There is an expiration in the negative, and then the price moves normally. You rush to open a trade again and the situation repeats. This is not trading, but torture.
-
Comment
Spikes that destroy your stops are a normal occurrence on the LiteForex platform. It’s okay if there is multidirectional movement in the market. But when there is a stable trend, a 50-pip spike in the opposite direction is a common occurrence for them. And I think that LiteForex manipulates this situation.
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.
- Webull vs Oanda
- Oanda vs InstaForex
- OspreyFX vs Oanda
- ProsperityFX vs Oanda
- Deriv vs Oanda
- EagleFX vs Oanda
- Capital.com vs Oanda
- Oanda vs AMP Global
- Oanda vs Spreadex
- Oanda vs Moneta Markets
- Oanda vs Vantage
- Oanda vs BlackBull Markets
- Oanda vs London Capital Group (LCG)
- Oanda vs FXCC
- Oanda vs Trading 212
- Oanda vs FXChoice
- Oanda vs IFC Markets
- Oanda vs XBTFX
- Oanda vs NAGA
- Oanda vs FXOpen
- Oanda vs City Index
- Oanda vs IG
- Oanda vs Saxo Bank
- Oanda vs Dukascopy
- Oanda vs CMC Markets
- Oanda vs FP Markets
- Oanda vs OctaFX
- Oanda vs HotForex
- Oanda vs TD Ameritrade
- Oanda vs FBS
- Oanda vs Pepperstone
- Oanda vs Fusion Markets
- Oanda vs XTB
- Oanda vs Plus500
- Oanda vs FXTM
- Oanda vs Interactive Brokers
- Oanda vs AvaTrade
- Oanda vs Forex.com
- Oanda vs Libertex
- Oanda vs XM
- Oanda vs InstaForex
- Oanda vs IC Markets
- Oanda vs Exness
- Tickmill vs Oanda
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.