Oanda vs Spreadex - Fees Review included
Which broker is better Oanda or Spreadex? 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. Spreadex is one of the top brokers in the financial market with the TU Overall Score of 4.45 out of 10. Find out more about TU Overall Score.
| Feature | Oanda | Spreadex |
|---|---|---|
Overall |
4.4 |
2.8 |
5 |
3.8 |
|
4.5 |
3.1 |
|
3.5 |
3.8 |
|
Investment Instruments |
4.1 |
1 |
Platforms and Charting Tools |
4.8 |
3.3 |
Deposit and Withdrawal |
4.2 |
3 |
Research |
4.7 |
3.1 |
Education |
4.5 |
3 |
Support |
4.8 |
3.2 |
Bonuses |
4.6 |
2 |
|
|
Oanda vs Spreadex: 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.
Spreadex is a CFD and Forex broker that has been operating since 1999. The platform offers clients access to six classes of trading instruments. Here you can trade currency pairs (Forex) and contracts for difference (CFDs) on stocks, bonds, indices, commodities, and ETFs. Spreadex is headquartered in the UK and is regulated by the UK Financial Conduct Authority (FCA). Betting on sports is a secondary activity of the company.
| Oanda | Spreadex | |
|---|---|---|
| Overall Pros | Regulated by a range of reputable financial bodies | Tight spreads (from 0.6 pips for EUR/USD). |
| Real-time news and fundamental analysis tools | Withdrawal fee - 0%. | |
| localized and multilingual phone support | Free broker analytics. | |
| User-friendly platform for new forex traders | 3,500+ trading instruments | |
| Outstanding research tools | Minimum deposit from USD 2. | |
| 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 | There are no investment instruments. |
| Slow withdrawal of funds | Support is not 24/7. |
Oanda vs Spreadex: Safety and Regulation
| Regulated By: | Oanda | Spreadex |
|---|---|---|
US Regulation |
Yes (CFTC, NFA) |
No |
FCA (Great Britain) |
Yes |
Yes |
CySec (Cyprus, EU) |
No |
No |
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) |
No |
Oanda vs Spreadex: Trading Conditions
| Trading Conditions | Oanda | Spreadex |
|---|---|---|
Minimum Deposit |
No minimum deposit |
$2 |
Trading Platforms |
MT4, OANDA, TradingView |
Spreadex (desktop, Android, iOS, Webtrader) |
Max Leverage (Futures) |
1-50 |
1-30 |
Supported Markets |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
Currency pairs, CFDs on stocks, indices, commodities, bonds, ETFs |
Trading assets |
120+ |
3500+ |
Trading Accounts |
Standard, Core, and Swap-free |
Standard |
Base Account Currencies |
USD, EUR, HKD, SGD |
USD, EUR, GBP |
Oanda vs Spreadex: Fees
Forex Trading Fees
| Fee | Oanda | Spreadex |
|---|---|---|
Standard Account EURUSD Average Spread |
1.2 pips |
1.15 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 | Spreadex |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | Oanda | Spreadex |
|---|---|---|
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 |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Oanda vs Spreadex: Trading Assets
| Asset Name | Oanda | Spreadex |
|---|---|---|
Overall |
120+trading assets |
3500+ |
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 |
No |
Binary Options |
No |
No |
Oanda or Spreadex: Investment Programs
| Asset Name | Oanda | Spreadex |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: Spreadex or Oanda
| Oanda | Spreadex | |
|---|---|---|
MT4 |
Yes |
No |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
Oanda |
Spreadex |
Others |
No |
No |
|
|
Oanda vs Spreadex: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Oanda | Spreadex |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes (not for all markets) |
No |
Crypto |
No |
No |
Oanda vs Spreadex: Research
| Research Type | Oanda | Spreadex |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
Oanda vs Spreadex: Education
| Education Type | Oanda | Spreadex |
|---|---|---|
Demo-account/Paper Trading |
Yes |
No |
Webinars |
Yes |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
Spreadex vs Oanda: Support
| Support Features | Oanda | Spreadex |
|---|---|---|
Working Days |
24/5 |
8/7 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Oanda vs Spreadex: Forex Bonuses and Promo
| Promo | Oanda | Spreadex |
|---|---|---|
Forex Bonus |
Yes (Not for all countries) |
No |
Affiliate Program |
Yes |
Yes |
Other Promos |
Rebates and commission markdowns |
|
|
|
Top 5 Reviews on Spreadex
-
Comment
Spreadex is not bad, but it is not suitable for scalping or robot trading. Spreads are high, execution is not very good, and there are still many restrictions. Well, at least there is regulation, and that’s good, but I think that the company is not suitable for large amounts.
-
Comment
- you put it in growth, it immediately falls, creeps down, put it down - immediately turn and in growth! So guys, draw your own conclusions...
-
Comment
The broker's employees are not the most pleasant impression. Whatever question you ask, they don't know. They report in a pattern. It seems to me that in order for me to trust a company, I should not have distrust of its employees. And it has arisen.
-
Comment
The lack of a demo upset me, because I wanted to test the author's Spreadex platform before opening a real account. Unfortunately, you can't bargain for cents either. But I decided to take the risk anyway to work with an FCA regulated broker. There are no deposit requirements - just $ 2 is needed. 30x leverage is enough for me, but it's the maximum if it's important to someone. Now about commissions. I don't trust brokers who promise spreads up to 1 pip without extra. boards. As I expected, Spreadex also indicated the minimum values on its website - 0.6 points was not even in the best scenario. The real spread for the Eurodollar is 1.5-2.5 points. The broker does not charge a commission for withdrawal.
-
Comment
The FCA license gives Spreadex substantial weight, and its longevity as a brokerage company further increases its rating. I have about $35,000 on my account here, I'm not afraid that the broker will throw me off. I trade mainly through a mobile application, I carry out technical analysis on a different platform. All payments go through the bank, and the broker does not take a very large commission. I think it is possible to cooperate with Spreadex.
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!