ProsperityFX vs Oanda - Fees Review included
Which broker is better ProsperityFX or Oanda? Our expert assessment conducted according to TU’s own methodology showed that ProsperityFX is one of the top brokers in the financial market with the TU Overall Score of 2.43 out of 10. Oanda is one of the top brokers in the financial market with the TU Overall Score of 5.28 out of 10. Find out more about TU Overall Score.
| Feature | ProsperityFX | Oanda |
|---|---|---|
Overall |
1.8 |
4.4 |
1 |
5 |
|
2.4 |
4.5 |
|
2.3 |
3.5 |
|
Investment Instruments |
2.0 |
4.1 |
Platforms and Charting Tools |
2.5 |
4.8 |
Deposit and Withdrawal |
2.7 |
4.2 |
Research |
1 |
4.7 |
Education |
1.3 |
4.5 |
Support |
1.7 |
4.8 |
Bonuses |
1 |
4.6 |
|
|
ProsperityFX vs Oanda: Pros and Cons
ProsperityFX (Prosperity4X) is a conservative broker that provides classic services of access to international financial markets for professional traders. The emphasis is on professional trading. Trading conditions are designed in such a way that they will be unprofitable for novice traders with a turnover of 1-2 lots per month. In return, ProsperityFX guarantees a spread without fundamental expansion and a high order execution speed
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.
| ProsperityFX | Oanda | |
|---|---|---|
| Overall Pros | Transparency of trading conditions | Regulated by a range of reputable financial bodies |
| High liquidity. No spread widening at the time of a flat or a fundamental price surge | Real-time news and fundamental analysis tools | |
| Trades in cryptocurrencies are available | localized and multilingual phone support | |
| Can apply any strategies | 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 | Lack of a regulatory license | No programs offering bonus |
| The inability to replenish the deposit using electronic wallets | Slow withdrawal of funds | |
| Fixed commissions on almost all types of accounts for each lot held |
ProsperityFX vs Oanda: Safety and Regulation
| Regulated By: | ProsperityFX | Oanda |
|---|---|---|
US Regulation |
No |
Yes (CFTC, NFA) |
FCA (Great Britain) |
No |
Yes |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
Yes |
Other Regulators |
No, in process |
European Union (regulated by the MFSA), Singapore (regulated by the MAS), Canada (regulated by IIROC), Japan (regulated by FSA) |
ProsperityFX vs Oanda: Trading Conditions
| Trading Conditions | ProsperityFX | Oanda |
|---|---|---|
Minimum Deposit |
$50 ($25 - mini) |
No minimum deposit |
Trading Platforms |
МТ4 |
MT4, OANDA, TradingView |
Max Leverage (Futures) |
1-20 for stocks, 1-100 for cryptocurrencies, 1-200 for commodies, 1-500 for pairs |
1-50 |
Supported Markets |
Forex, Stocks, Futures, Cryptocurrencies |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
Trading assets |
200+ |
120+ |
Trading Accounts |
Standard, Pro, VAR, MINI, Islamic |
Standard, Core, and Swap-free |
Base Account Currencies |
USD, GBP, EUR, CAD, AUD and BTC, ETH, LTC, Doge, USDT, USDC |
USD, EUR, HKD, SGD |
ProsperityFX vs Oanda: Fees
Forex Trading Fees
| Fee | ProsperityFX | Oanda |
|---|---|---|
Standard Account EURUSD Average Spread |
1.2 pips |
1.2 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$7-8 per lot |
not offered |
ECN Account EUR Average Spread |
0.4-0.8 pips |
not offered |
CFD Trading Fees
| Fee | ProsperityFX | Oanda |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | ProsperityFX | Oanda |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
$20 - just for bank transfer |
Inactivity Fee |
No |
After 12 months of inactivity, 10 units of your account’s currency denomination |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
ProsperityFX vs Oanda: Trading Assets
| Asset Name | ProsperityFX | Oanda |
|---|---|---|
Overall |
200+ |
120+trading assets |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
No |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
ProsperityFX or Oanda: Investment Programs
| Asset Name | ProsperityFX | Oanda |
|---|---|---|
Copy Trading |
No |
Yes |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: Oanda or ProsperityFX
| ProsperityFX | Oanda | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
No |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
Oanda |
Others |
No |
No |
|
|
ProsperityFX vs Oanda: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | ProsperityFX | Oanda |
|---|---|---|
Bank Transfer |
No |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
No |
Yes (not for all markets) |
Crypto |
Yes |
No |
ProsperityFX vs Oanda: Research
| Research Type | ProsperityFX | Oanda |
|---|---|---|
News Feed |
No |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
No |
Yes |
Trading Ideas |
No |
Yes |
E-Mail Reports |
No |
Yes |
ProsperityFX vs Oanda: Education
| Education Type | ProsperityFX | Oanda |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
No |
Yes |
Videos |
No |
Yes |
Cent account |
No |
Yes |
Oanda vs ProsperityFX: Support
| Support Features | ProsperityFX | Oanda |
|---|---|---|
Working Days |
24/7 |
24/5 |
No |
Yes |
|
Phone |
No |
Yes |
Online chat |
Yes |
Yes |
Other |
Instagram, Telegram, feedback form |
No |
ProsperityFX vs Oanda: Forex Bonuses and Promo
| Promo | ProsperityFX | Oanda |
|---|---|---|
Forex Bonus |
No |
Yes (Not for all countries) |
Affiliate Program |
Introducing Broker (IB) is a classic affiliate program with attractive conditions for private trader-affiliates. The terms of the program provide for the construction of up to five levels of the network with a percentage increase in remuneration for each new level. Detailed conditions can be obtained only after registration |
Yes |
Other Promos |
Rebates and commission markdowns |
|
|
|
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.
Top 5 Reviews on ProsperityFX
-
Comment
The Prosperity FX website offers a good monitoring of assets that are currently in growth or decline. Previously, when I worked with another company, I had to use third-party resources to research company shares. Now I conduct analytics on the Prosperity FX website, as well as on the trading platform. It is very comfortable.
-
Comment
The ProsperityFX platform works with constant bugs. During one trading session you have to reboot it several times. And when the news is released, you can forget about trading. In five months of working there, I have never been able to open a trade normally when the market was moving strongly on the news. Overall, I left ProsperityFX and have no regrets.
-
Comment
I cannot recommend working with Prosperity FX. This is, I assume, a fake broker who rented the trading platform. See for yourself. The company's domain was registered in 2018, and the company itself began operating even later. At the same time, the company’s website states that it was created by a group of traders more than 10 years ago. That’s already a deception. Prosperity FX’s legal address is located in an unknown place. Therefore, I don’t think it's clever to send your money to someone unknown, to a company that is deceiving.
-
Comment
These are just scammers! I received a call from ProsperityFX, where they offered reasonable investments with reasonable returns. While I understand there are risks in financial investments, this seems very much like fraud and deception. I transferred $6000 to ProsperityFX, entrusting the management of my account to their managers. I even saw a profit of $680 within the first week. Then, the managers called and suggested depositing an additional $4000, claiming there was a great opportunity to earn more. I believed them and transferred another $4000 to ProsperityFX. After a month, there was only $28 left in my account! The rest of the money was lost due to improper actions by those managing my account. Despite numerous attempts to contact ProsperityFX administration and demand a refund, no one returned anything to me! It's a scam!
-
Comment
I am currently looking for a company to trade on the Forex market. I got my eye on ProsperityFX. I studied the broker's website and its activities. And I came to the conclusion that it is not worth opening an account and trading there, because there are very high risks of non-trading losses. This company cannot be trusted. They do not have a regulatory license, and the company itself is registered somewhere far away, in an offshore zone. In addition, deposits and withdrawals are only available in Bitcoin. And this is the most anonymous payment; it is impossible to refund such payment.
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!