Quotex vs Forex.com vs Oanda - Fees Review included
| Feature | Quotex | Forex.com | Oanda |
|---|---|---|---|
Overall |
2.8 |
4.3 |
4.4 |
1 |
5 |
5 |
|
3.3 |
4.3 |
4.5 |
|
3.1 |
4.4 |
3.5 |
|
Investment Instruments |
1 |
3.5 |
4.1 |
Platforms and Charting Tools |
3.9 |
4.5 |
4.8 |
Deposit and Withdrawal |
4.6 |
4.2 |
4.2 |
Research |
1.5 |
4.7 |
4.7 |
Education |
2.3 |
4.3 |
4.5 |
Support |
3.0 |
4.8 |
4.8 |
Bonuses |
3.8 |
4.2 |
4.6 |
|
|
|
Quotex vs Forex.com vs Oanda: Pros and Cons
QUOTEX is a broker specializing in binary options trading. The company was established in 2019. Its clients can trade currencies, metals, oil, cryptocurrencies, stock indices and earn a profit of up to 90% of the value of the option. QUOTEX has developed a proprietary trading platform which is easily customized, supports 29 technical indicators and allows investments from USD 10. The broker’s team provides support 24/7. Personal and payment information of the clients are protected with two-factor authentication
Speaking of recognitions and awards, Oanda doesn’t lag behind as it has several awards to its name. The US Foreign Exchange Report awarded it the Best Customer Service, while FX Week crowned it the Best Trading Platform. There’s also an award from the UK Forex Awards where Oanda bagged top honors in the Best Forex Trading Technologies category.
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.
| Quotex | Forex.com | Oanda | |
|---|---|---|---|
| Overall Pros | Affordable minimum investment amount – USD 10 | Orders executed at high speeds | Regulated by a range of reputable financial bodies |
| No trading fees and no deposit, withdrawal and account fees | 4500+ instruments across various markets | Real-time news and fundamental analysis tools | |
| Algorithmic trading is technically impossible | Tight spreads on over 90 assets | localized and multilingual phone support | |
| Rebate and discount programs are available | User-friendly platform for new forex traders | ||
| High-level investor protection | Outstanding research tools | ||
| Diverse technical research tools | Financial information publicly available | ||
| Caters to a wider audience of users | High educational value through written content and videos | ||
| Creates a variety of quality, written content daily | Orders get executed with no requotes | ||
| Low fees and relatively cheap commission costs | Deposit minimum as low as $1 | ||
| Overall Cons | No Regulatory License | Fewer deposit and withdrawal options | No programs offering bonus |
| Lacks a multi-language version | Slow withdrawal of funds |
Quotex vs Forex.com vs Oanda: Safety and Regulation
| Regulated By: | Quotex | Forex.com | Oanda |
|---|---|---|---|
Max. Regulation Level |
Tier-1 |
Tier-1 |
|
Investor protection |
£85,000 |
£85,000 |
|
FCA UK Regulation |
Yes |
Yes |
|
FINRA (U.S) |
No |
No |
|
BaFin (Germany) |
No |
No |
|
ASIC (Australia) |
Yes |
Yes |
|
CFTC (U.S) |
Yes |
Yes |
|
MAS |
No |
No |
|
FSCA SA |
No |
No |
|
BVI FSC |
No |
No |
|
VFSC |
No |
No |
|
FSA (Seychelles) |
No |
No |
Quotex vs Forex.com vs Oanda: Trading Conditions
| Trading Conditions | Quotex | Forex.com | Oanda |
|---|---|---|---|
Minimum Deposit |
$10 |
$100 |
No minimum deposit |
Trading Platforms |
Own platform |
МТ4 |
MT4, OANDA, TradingView |
Max Leverage (Futures) |
Not provided technically |
1-500 |
1-50 |
Supported Markets |
Currencies, raw materials, stocks |
Forex, CFDs (not for all entetities): Forex, Indexes, Stocks, Commodities, Metals, Cryptocurrencies |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
Trading assets |
80+ |
4500+ |
120+ |
Trading Accounts |
Single account for binary options trading |
Standard, Commission, and Direct Market Access |
Standard, Core, and Swap-free |
Base Account Currencies |
USD, EUR, GBP, BRL, IDR, MYR, INR, KZT, RUB, THB, UAH, VND, NGN, MXN, EGP |
USD, EUR, GBP |
USD, EUR, HKD, SGD |
Quotex vs Forex.com vs Oanda: Fees
| Fee | Quotex | Forex.com | Oanda |
|---|---|---|---|
Standard acc. spread EUR/USD, min pips |
0,7 |
0,7 |
|
Standard acc. spread EUR/USD, max pips |
1,2 |
1,2 |
|
ECN Commission |
5 |
5 |
|
ECN Spread EUR/USD |
0,2 |
0,2 |
|
Deposit fee, % |
No |
No |
|
Withdrawal fee, % |
No |
No |
|
Withdrawal fee, USD |
No |
No |
|
Inactivity fee, $ |
15 |
15 |
Quotex vs Forex.com vs Oanda: Trading Assets
| Asset Name | Quotex | Forex.com | Oanda |
|---|---|---|---|
Overall |
80+ |
4500+ |
120+trading assets |
Forex |
Yes |
Yes |
Yes |
Stocks |
Yes (CFD) |
No |
No |
Metals |
Yes (CFD) |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
No |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
No |
No |
Bonds |
No |
Yes (CFD) |
No |
Mutual funds |
No |
No |
No |
Stock options |
No |
No |
No |
Futures Trading |
No |
No |
No |
Binary Options |
No |
No |
No |
Quotex or Forex.com or Oanda: Investment Programs
| Asset Name | Quotex | Forex.com | Oanda |
|---|---|---|---|
Copy Trading |
No |
No |
Yes |
MAM/PAMM |
No |
No |
No |
Managed Accounts |
No |
No |
No |
Other |
No |
No |
No |
Trading Platforms: Quotex or Forex.com or Oanda
| Quotex | Forex.com | Oanda | |
|---|---|---|---|
MT4 |
No |
Yes |
Yes |
MT5 |
No |
Yes |
Yes |
cTrader |
No |
No |
No |
Appropriate platform |
No |
Forex.com |
Oanda |
Others |
Own trading platform |
No |
No |
|
|
|
Quotex vs Forex.com vs Oanda: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Quotex | Forex.com | Oanda |
|---|---|---|---|
Bank Wire |
Yes |
Yes |
|
Bank Card |
Yes |
Yes |
|
Neteller |
Yes |
Yes |
|
BTC |
Yes |
Yes |
|
Wise |
No |
No |
|
Payoneer |
No |
No |
|
USDT |
No |
No |
Quotex vs Forex.com vs Oanda: Research
| Research Type | Quotex | Forex.com | Oanda |
|---|---|---|---|
News Feed |
No |
Yes |
Yes |
Fundamental Data |
No |
Yes |
Yes |
Chart Analysis |
No |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
Yes |
E-Mail Reports |
No |
Yes |
Yes |
Quotex vs Forex.com vs Oanda: Education
| Education Type | Quotex | Forex.com | Oanda |
|---|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Yes |
Webinars |
No |
Yes |
Yes |
Articles |
No |
Yes |
Yes |
Videos |
No |
Yes |
Yes |
Cent account |
No |
Yes |
Yes |
Quotex vs Forex.com vs Oanda: Support
| Support Features | Quotex | Forex.com | Oanda |
|---|---|---|---|
Working Days |
24/7 |
24/5 |
24/5 |
No |
Yes |
Yes |
|
Phone |
No |
Yes |
Yes |
Online chat |
No |
Yes |
Yes |
Other |
Feedback form |
Complaint form, FAQ support |
No |
Quotex vs Forex.com vs Oanda: Forex Bonuses and Promo
| Promo | Quotex | Forex.com | Oanda |
|---|---|---|---|
Forex Bonus |
Welcome bonus 30% when opening a real account. Cashback, bonus for using "deal cancellation" |
Yes (Not for all countries) |
Yes (Not for all countries) |
Affiliate Program |
Yes. Payouts up to 80% of income or up to 7% of referral turnover |
Yes |
Yes |
Other Promos |
Rebates and commission markdowns |
||
|
|
|
Top 5 Reviews on Quotex
-
Comment
A QuotexBroker é uma plataforma de opções binárias excelente, que se destaca principalmente pela tecnologia presente em toda a plataforma. Os seus gráficos e funcionalidades, profissionais, modernos e limpos, refletem a alta performance dos seus desenvolvedores. Recomendo fortemente a utilização da Quotex para traders avançados e que esperam o máximo de segurança e desempenho nas suas operações.
-
Comment
I found the Quotex interface surprisingly user-friendly. It’s available in six languages, I had no issues using the English version. The app runs fast, especially on Android. Trading is done through the web platform, so there’s no need to download anything. There are 43 instruments available, including 23 currency pairs. I liked that order processing time ranges from 0 to 4 seconds. However, it’s worth noting that stocks aren’t included among the instruments, and there’s no option to set up managed accounts.
-
Comment
Criei a minha conta na Quotex há alguns meses e minha experiência tem sido muito boa. A plataforma é bem limpa e intuitiva, o que foi ótimo pra mim que estava começando e não entendia muito de binarias. A conta demo me ajudou a praticar bastante antes de colocar dinheiro de verdade. Os depósitos e saques (uso o Pix) são bem rápidos e não tive problemas. Recomendo!
-
Comment
"Quotex é uma excelente plataforma para quem busca simplicidade e eficiência no mercado financeiro. Interface intuitiva, funcionalidades incríveis e suporte de qualidade. Perfeita para quem quer transformar conhecimento em resultados!"
-
Comment
I use Quotex as an additional platform, mainly for trading cryptocurrencies and indices. The return is fixed and can reach up to 90% of the stake amount. According to the website, the maximum payout percentage for crypto and indices is up to 25%. I haven’t had any issues with order execution times or the mobile app’s performance. However, the lack of educational materials on the website might be a drawback for some users.
Top 5 Reviews on Oanda
-
Comment
I considered Oanda as a platform for portfolio diversification. What attracted me was its stability — the broker has been operating since 1996 and is regulated in four jurisdictions. Liquidity is provided by major banks, including JPMorgan and Deutsche Bank, which adds confidence in order execution without slippage.
-
Comment
The Oanda platform offers a solid range of instruments, including currency pairs, cryptocurrencies, metals, indices, and commodities. The minimum order size starts from 0.01 lots, and spreads for major pairs begin at 0 pips. These are favorable conditions for traders using intraday or scalping strategies.
-
Comment
When choosing a broker, I paid close attention to leverage. OANDA offers up to 1:200, which provides enough flexibility for active trading. You can trade on MetaTrader 4, 5, as well as the proprietary fxTrade platform. The stop-out level is fixed at 50%, which is in line with industry standards.
-
Comment
The conditions at OANDA are average, so I can give this broker a decent rating.
-
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.
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.
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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.
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.