Oanda vs TD Ameritrade - Fees Review included
Which broker is better Oanda or TD Ameritrade? 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. TD Ameritrade is one of the top brokers in the financial market with the TU Overall Score of 4.35 out of 10. Find out more about TU Overall Score.
| Feature | Oanda | TD Ameritrade |
|---|---|---|
Overall |
4.4 |
4.7 |
5 |
4.9 |
|
4.5 |
4.9 |
|
3.5 |
4.7 |
|
Investment Instruments |
4.1 |
4.1 |
Platforms and Charting Tools |
4.8 |
5 |
Deposit and Withdrawal |
4.2 |
4.1 |
Research |
4.7 |
4.6 |
Education |
4.5 |
4.3 |
Support |
4.8 |
4.5 |
Bonuses |
4.6 |
4.3 |
|
|
Oanda vs TD Ameritrade: 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.
TD Ameritrade is an American broker that provides top-notch online services for trading and investing in securities on the OTC markets. The company was founded in 1975 under the name First Omaha Securities. It was reimagined as an online broker in 1998. TD Ameritrade is a member of FINRA and SIPC and currently serves over 11 million client accounts. The broker offers simple pricing, high-tech trading platforms with professional analytics, and a wide range of markets and investment products. TD Ameritrade was named Best Online Broker 2020 by StockBrokers.com and ranked first in the Platforms & Tools, Beginners, Education, and Customer Service categories.
| Oanda | TD Ameritrade | |
|---|---|---|
| Overall Pros | Regulated by a range of reputable financial bodies | One of the biggest international brokers |
| Real-time news and fundamental analysis tools | The broker offers high-tech author's terminals that work from desktop or mobile device | |
| localized and multilingual phone support | Huge choice of available markets and trading instruments, clients have open access to the securities market, OTC, derivatives trading, and legal work with Forex instruments | |
| User-friendly platform for new forex traders | The company does not charge fees for trading in American and Canadian stocks, options, and ETFs | |
| Outstanding research tools | Low margin rates | |
| Financial information publicly available | The broker's regulators are FINRA, SEC and SIPC, which guarantee the protection of client funds and their return in the event of TD Ameritrade's bankruptcy or other default | |
| High educational value through written content and videos | ||
| Orders get executed with no requotes | S | |
| Deposit minimum as low as $1 | ||
| Overall Cons | No programs offering bonus | A high entry threshold has been set for margin trading and investment in managed portfolios |
| Slow withdrawal of funds |
Oanda vs TD Ameritrade: Safety and Regulation
| Regulated By: | Oanda | TD Ameritrade |
|---|---|---|
US Regulation |
Yes (CFTC, NFA) |
FINRA, SEC, CFTC |
FCA (Great Britain) |
Yes |
No |
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) |
SIPC protection up to $500.000 The Hong Kong Securities and Futures Commission, and the Monetary Authority of Singapore (MAS). |
Oanda vs TD Ameritrade: Trading Conditions
| Trading Conditions | Oanda | TD Ameritrade |
|---|---|---|
Minimum Deposit |
No minimum deposit |
$1 |
Trading Platforms |
MT4, OANDA, TradingView |
Classic web platform, NextGen web platform, TD Ameritrade Mobile, Thinkorswim (web, desktop, mobile) |
Max Leverage (Futures) |
1-50 |
1:2 |
Supported Markets |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
Stocks, Forex, ETFs, Mutual Funds, Bonds, Stock options, Commodity Futures, Currency futures, Cryptocurrencies, Hedge funds |
Trading assets |
120+ |
18000+ |
Trading Accounts |
Standard, Core, and Swap-free |
Paper Account (Demo), Standard (Cash, Cash and Margin, Cash and Option, Cash, Margin and Option), Retirement (Traditional IRA, Roth IRA, Rollover IRA), Education (529 Plan, Coverdell), Specialty, Managed Portfolios |
Base Account Currencies |
USD, EUR, HKD, SGD |
USD |
Oanda vs TD Ameritrade: Fees
Forex Trading Fees
| Fee | Oanda | TD Ameritrade |
|---|---|---|
Standard Account EURUSD Average Spread |
1.2 pips |
1.2 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 | TD Ameritrade |
|---|---|---|
CFD Trading Fee |
Floating spread |
Not supported |
Non-Trading Fees
| Fee | Oanda | TD Ameritrade |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
$20 - just for bank transfer |
$25 per wire transfer, other withdrawal methods - free |
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 TD Ameritrade: Trading Assets
| Asset Name | Oanda | TD Ameritrade |
|---|---|---|
Overall |
120+trading assets |
10000+ |
Forex |
Yes |
Yes |
Stocks |
No |
Yes |
Metals |
Yes (CFD) |
Yes |
Cryptocurrencies |
Yes (CFD) |
Yes |
Energy |
Yes (CFD) |
Yes |
Indices |
Yes (CFD) |
Yes |
ETFs |
No |
Yes |
Bonds |
No |
Yes |
Mutual funds |
No |
Yes |
Stock options |
No |
Yes |
Futures Trading |
No |
Yes |
Binary Options |
No |
Yes |
Oanda or TD Ameritrade: Investment Programs
| Asset Name | Oanda | TD Ameritrade |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
Yes |
Other |
No |
Retirement plans, Bonds, Hedge Funds, Collateral Lending Program |
Trading Platforms: TD Ameritrade or Oanda
| Oanda | TD Ameritrade | |
|---|---|---|
MT4 |
Yes |
No |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
Oanda |
Classic web platform, NextGen web platform, TD Ameritrade Mobile, Thinkorswim (web, desktop, mobile) |
Others |
No |
No |
|
|
Oanda vs TD Ameritrade: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Oanda | TD Ameritrade |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
No |
Electronic Wallets |
Yes (not for all markets) |
No |
Crypto |
No |
Electronic bank deposit (ACH), asset transfer from another brokerage company, by check via mobile app, physical certificates of shares |
Oanda vs TD Ameritrade: Research
| Research Type | Oanda | TD Ameritrade |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
Yes |
Oanda vs TD Ameritrade: Education
| Education Type | Oanda | TD Ameritrade |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
TD Ameritrade vs Oanda: Support
| Support Features | Oanda | TD Ameritrade |
|---|---|---|
Working Days |
24/5 |
24/7 |
Yes |
Yes |
|
Phone |
Yes |
yes |
Online chat |
Yes |
Yes |
Other |
No |
FB Messenger, teletype, fax |
Oanda vs TD Ameritrade: Forex Bonuses and Promo
| Promo | Oanda | TD Ameritrade |
|---|---|---|
Forex Bonus |
Yes (Not for all countries) |
Welcome bonus. When opening a brokerage account using the referral link of an existing client and making a deposit of $50,000, the new client receives from $150 to $1,000 on the balance. The exact amount of the bonus depends on the amount deposited. |
Affiliate Program |
Yes |
Referral program. A partner receives $50 for each attracted client who deposited $3,000 within 90 days from the date of opening an account. A partner can link a maximum of 10 friends and family members per day, but no more than 50 referrals per month. Not only a partner but also a referral can get from 150 to $1,000 to the account if they top it up with $50,000 or more. The offer is not available for individual retirement accounts (IRA) or for other accounts that are not taxed. |
Other Promos |
Rebates and commission markdowns |
|
|
|
Top 5 Reviews on TD Ameritrade
-
Comment
In Thinkorswim by TD Ameritrade, money is hard to withdraw. I read reviews about Thinkorswim, there are a lot of real complaints about non-output. So I'm not the only one who was thrown in this office. I do not recommend anyone to trade here.
-
Comment
After 3 years, I decided to give TD Ameritrade a second chance, but nothing has changed here. As there were problems with the withdrawal of money, they remained, the commissions only increased. In general, there will be no quality trade here.
-
Comment
I have been trading for real since 2021 with them. Everything suited. In November, I decided to withdraw part of the funds. In general, December is in the yard, but there is no money. Gentlemen, draw your own conclusions.
-
Comment
18.08.2022 made an application, every day for some reason for which funds cannot be transferred. Since 23.08.2022, support has stopped responding altogether. if I had read the comments before, I would never have invested in this pyramid.
-
Comment
Big problem with withdrawals. Three weeks have passed since the withdrawal order was issued, the money is hanging on the deposit, appeals remain unanswered.
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!