RoboForex vs Oanda - Fees Review included
Which broker is better RoboForex or Oanda? Our expert assessment conducted according to TU’s own methodology showed that RoboForex is one of the top brokers in the financial market with the TU Overall Score of 9.71 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 | RoboForex | Oanda |
---|---|---|
Overall |
4.9 |
4.4 |
4.6 |
5 |
|
4.9 |
4.5 |
|
5 |
3.5 |
|
Investment Instruments |
4.8 |
4.1 |
Platforms and Charting Tools |
4.9 |
4.8 |
Deposit and Withdrawal |
4.8 |
4.2 |
Research |
4.9 |
4.7 |
Education |
4.8 |
4.5 |
Support |
5.0 |
4.8 |
Bonuses |
5 |
4.6 |
|
|
RoboForex vs Oanda: Pros and Cons
RoboForex is a brokerage company that was founded in 2009. It provides services to financial markets in 169 countries. More than 3.5 million users are RoboForex clients. RoboForex is the leading software developer in the Forex industry. RoboForex is recognized as a reliable partner by the most respected financial market experts. The company has won numerous prestigious awards. The RoboForex group of companies has an international license to provide services from FSC Belize.
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.
RoboForex | Oanda | |
---|---|---|
Overall Pros | Trading With Leverage up to 1:2000 | Regulated by a range of reputable financial bodies |
Near 9000 supported trading assets | Real-time news and fundamental analysis tools | |
Low trading and non trading fees | localized and multilingual phone support | |
Passive income with copy trading | User-friendly platform for new forex traders | |
Great bonus programs | Outstanding research tools | |
Instant withdrawal of funds | Financial information publicly available | |
Best choice of Forex EA, Forex bots builder | High educational value through written content and videos | |
Advanced trading platforms | Orders get executed with no requotes | |
Deposit minimum as low as $1 | ||
Overall Cons | Lack of cryptocurrency tools when trading on the R Trader platform | No programs offering bonus |
A small number of currency pairs - 36, for accounts: Pro, Pro-Cent, ECN, Prime | Slow withdrawal of funds |
RoboForex vs Oanda: Safety and Regulation
Regulated By: | RoboForex | Oanda |
---|---|---|
US Regulation |
No |
Yes (CFTC, NFA) |
FCA (Great Britain) |
No |
Yes |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
Yes |
Other Regulators |
FSC (Belize) |
European Union (regulated by the MFSA), Singapore (regulated by the MAS), Canada (regulated by IIROC), Japan (regulated by FSA) |
RoboForex vs Oanda: Trading Conditions
Trading Conditions | RoboForex | Oanda |
---|---|---|
Minimum Deposit |
$10 |
No minimum deposit |
Trading Platforms |
MT4, MT5, cTrader, R StocksTrader, RoboForex, |
MT4, OANDA, TradingView |
Max Leverage (Futures) |
1-2000 |
1-50 |
Supported Markets |
Forex, Stocks, Indices, ETFs, Groceries, Energy commodities, Metals |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
Trading assets |
8700+ |
120+ |
Trading Accounts |
Pro, Pro Cent, ECN, Prime |
Standard, Core, and Swap-free |
Base Account Currencies |
USD, EUR |
USD, EUR, HKD, SGD |
RoboForex vs Oanda: Fees
Forex Trading Fees
Fee | RoboForex | Oanda |
---|---|---|
Standard Account EURUSD Average Spread |
1.4 pips |
1.2 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$2 per lot |
not offered |
ECN Account EUR Average Spread |
0.1 pip |
not offered |
CFD Trading Fees
Fee | RoboForex | Oanda |
---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
Fee | RoboForex | 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.
RoboForex vs Oanda: Trading Assets
Asset Name | RoboForex | Oanda |
---|---|---|
Overall |
9700+ trading assets |
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 |
Yes (CFD) |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
RoboForex or Oanda: Investment Programs
Asset Name | RoboForex | Oanda |
---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: Oanda or RoboForex
RoboForex | Oanda | |
---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
Yes |
No |
Appropriate platform |
R StocksTrader, RoboForex Terminals |
Oanda |
Others |
No |
No |
|
|
RoboForex vs Oanda: Deposit and Withdrawal Methods
Deposit and Withdrawal Method | RoboForex | Oanda |
---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes (not for all markets) |
Crypto |
No |
No |
RoboForex vs Oanda: Research
Research Type | RoboForex | Oanda |
---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
RoboForex vs Oanda: Education
Education Type | RoboForex | Oanda |
---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
Yes |
Oanda vs RoboForex: Support
Support Features | RoboForex | Oanda |
---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
RoboForex vs Oanda: Forex Bonuses and Promo
Promo | RoboForex | Oanda |
---|---|---|
Forex Bonus |
Welcome bonus $30 Classic first deposit bonus up to 120% |
Yes (Not for all countries) |
Affiliate Program |
Up to 40% of trading commissions |
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 RoboForex
-
Comment
Today,April 11, 2024, I made a deposit using a new payment method to fund my RoboForex trading account. I always received the deposited amount real-time in my previous service provider and was expecting the same this time. That did not happen unfortunately. I waited for five hours before finally contacting the RoboForex customer service just in case it was just a minor glitch in the system. The platform has a number of customer service channels to choose from like Whatsapp, Telegram, Messenger, etc which is convenient. I contacted them through Facebook Messenger at 2 pm local time (+8 GMT) and got a response right after I sent my concern. Website says customer service is 24/7. Was asked to provide my trading account number and made it clear that some transactions can take up to five business days to reflect, depending on the service provider. But somehow the funds made it into my account within the day after the interaction. Happy about their prompt response on this one.
-
Comment
I signed up with RoboForex two weeks ago and the process went smoothly overall. Only one thing to remember: they have a specific requirement on the password format which took a bit of my time. I use the same password on all my trading accounts which RoboForex kept rejecting, so had to come up with a new one which for me is a source of slight inconvenience for my future transactions. After submitting the documents confirming my identification and home address, they sent me an email informing that my MT4 Pro account has been successfully opened. It’s fast. There are four different account types to choose from: Demo, Real, CopyFX Trader, and Partner which appeals to different types of traders and I selected a demo since I am a beginner. From my understanding you can open multiple accounts at once and there can be different types, depending on preference. The demo account has a $10,000 balance and a 1:1000 leverage and I just started playing around. Wish they will be more flexible with th
-
Comment
RoboForex is a beginner-friendly platform. I was able to set up an account by following the instructions I saw in the blogs section. After setting up a demo account, I opened the web trader version of the trading platform, and the educational guides on how to trade I found on this trading platform have helped me in my trading journey. The educational resource explained the importance of studying the price movement of the asset you choose and how to select the order volume, of which 1.0 is the recommended value. Beginner traders can consider the educational resource available on the RoboForex platform as there are provisions for those looking to learn how to trade using major trading pairs like GBP/USD, EUR/USD, USD/JPY, USD/CHF, AUD/USD, USD/CAD, etc.
-
Comment
I've been trading with Roboforex for over 2 years now, and I can't say anything bad about the broker. Their trading conditions are better than those of larger companies. The spreads on ECN accounts are minimal; it's a pleasure to scalp on the EUR/USD pair. Yes, during increased volatility, spreads may widen, but I don't trade the news, so it's not essential for me. Also, I take advantage of Roboforex's free VPS for automated trading. I recommend this company
-
Comment
I've been trading with Roboforex for over 2 years now, and I can't say anything bad about the broker. Their trading conditions are better than those of larger companies. The spreads on ECN accounts are minimal; it's a pleasure to scalp on the EUR/USD pair. Yes, during increased volatility, spreads may widen, but I don't trade the news, so it's not essential for me. Also, I take advantage of Roboforex's free VPS for automated trading. I recommend this company.
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.