Webull vs Oanda - Fees Review included
Which broker is better Webull or Oanda? Our expert assessment conducted according to TU’s own methodology showed that Webull is one of the top brokers in the financial market with the TU Overall Score of 7.21 out of 10. Oanda is one of the top brokers in the financial market with the TU Overall Score of 6.8 out of 10. Find out more about TU Overall Score.
| Feature | Webull | Oanda |
|---|---|---|
Overall |
3.2 |
4.4 |
5 |
5 |
|
3.4 |
4.5 |
|
3.1 |
3.5 |
|
Investment Instruments |
4.0 |
4.1 |
Platforms and Charting Tools |
3.1 |
4.8 |
Deposit and Withdrawal |
2.7 |
4.2 |
Research |
1.8 |
4.7 |
Education |
1.2 |
4.5 |
Support |
3.6 |
4.8 |
Bonuses |
4.1 |
4.6 |
|
|
Webull vs Oanda: Pros and Cons
Webull is an American broker-dealer headquartered in New York City and is a FINRA, SIPC, NYSE, and NASDAQ member. The company was incorporated in May 2017, and in January 2018 it was already registered with the SEC. It is part of Webull Financial LLC and is licensed to carry out brokerage activities in all 50 US states. The broker offers a wide range of stock market assets, professional analytics and an intuitive trading platform with a variety of technical and fundamental analysis tools
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.
| Webull | Oanda | |
|---|---|---|
| Overall Pros | Zero commission when trading stocks, options, and ETFs | Regulated by a range of reputable financial bodies |
| No minimum deposit requirements for brokerage and retirement (IRA) accounts | Real-time news and fundamental analysis tools | |
| Access to professional intelligent analytics and trading tools | localized and multilingual phone support | |
| 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 | There is no support for trading in mutual funds, futures, bonds or stocks of the OTC markets | No programs offering bonus |
| It doesn’t provide an opportunity to make transactions with currency pairs | Slow withdrawal of funds | |
| Cryptocurrency trading is available only in mobile applications | ||
| Replenish your account from $2,000 to trade with favorable leverage |
Webull vs Oanda: Safety and Regulation
| Webull | Oanda | |
|---|---|---|
Max. Regulation Level |
Tier-1 |
|
Investor protection |
£85,000 SGD 75,000 $500,000 |
|
FCA UK Regulation |
Yes |
|
FINRA (U.S) |
No |
|
BaFin (Germany) |
No |
|
ASIC (Australia) |
Yes |
|
CFTC (U.S) |
Yes |
|
MAS |
Yes |
|
FSCA SA |
No |
|
BVI FSC |
Yes |
|
VFSC |
No |
|
FSA (Seychelles) |
No |
Webull vs Oanda: Trading Conditions
| Trading Conditions | Webull | Oanda |
|---|---|---|
Minimum Deposit |
1 USD |
No minimum deposit |
Trading Platforms |
Own platform |
MT4, OANDA, TradingView |
Max Leverage (Futures) |
1-2/1-4 |
1-50 |
Supported Markets |
Stocks, options, ETFs, ADRs, cryptocurrencies |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
Trading assets |
100+ |
120+ |
Trading Accounts |
Paper Account (Demo), Margin Account, Cash Account (IRA, Individual) |
Standard, Core, and Swap-free |
Base Account Currencies |
USD |
USD, EUR, HKD, SGD |
Webull vs Oanda: Fees
| Webull | Oanda | |
|---|---|---|
Standard acc. spread EUR/USD, min pips |
0,1 |
|
Standard acc. spread EUR/USD, max pips |
0,5 |
|
ECN Commission |
3,5 |
|
ECN Spread EUR/USD |
0,15 |
|
Deposit fee, % |
No |
|
Withdrawal fee, % |
No |
|
Withdrawal fee, USD |
0-15 |
|
Inactivity fee, $ |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Webull vs Oanda: Trading Assets
| Asset Name | Webull | Oanda |
|---|---|---|
Overall |
100+ |
120+trading assets |
Forex |
No |
Yes |
Stocks |
Yes |
No |
Metals |
No |
Yes (CFD) |
Cryptocurrencies |
Yes |
Yes (CFD) |
Energy |
No |
Yes (CFD) |
Indices |
No |
Yes (CFD) |
ETFs |
Yes |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Webull or Oanda: Investment Programs
| Asset Name | Webull | Oanda |
|---|---|---|
Copy Trading |
No |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: Oanda or Webull
| Webull | Oanda | |
|---|---|---|
MT4 |
No |
Yes |
MT5 |
No |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
Oanda |
Others |
Own trading platform |
No |
|
|
Webull vs Oanda: Deposit and Withdrawal Methods
| Webull | Oanda | |
|---|---|---|
Bank Wire |
||
Bank Card |
||
Neteller |
||
BTC |
||
Wise |
||
Payoneer |
||
USDT |
Webull vs Oanda: Research
| Research Type | Webull | Oanda |
|---|---|---|
News Feed |
No |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
No |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
No |
Yes |
Webull vs Oanda: Education
| Education Type | Webull | Oanda |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
No |
Yes |
Videos |
No |
Yes |
Cent account |
No |
Yes |
Oanda vs Webull: Support
| Support Features | Webull | Oanda |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
No |
Yes |
Other |
No |
No |
Webull vs Oanda: Forex Bonuses and Promo
| Promo | Webull | Oanda |
|---|---|---|
Forex Bonus |
Flexible bonus system with the ability to receive a bonus in the form of securities in the amount of up to 1600 USD |
Yes (Not for all countries) |
Affiliate Program |
Yes |
Yes |
Other Promos |
Rebates and commission markdowns |
|
|
|
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.
Top 5 Reviews on Webull
-
Comment
The Webull broker is characterized by low-quality execution of transactions. Transactions revolve within the company. If you compare trading here with trading in other companies, the difference will be very noticeable. I do not advise.
-
Comment
I have been cooperating with Webull for the third month. It seems to me that this is a sufficient period to see all the obvious advantages and disadvantages of the company. First, about the cons, which, perhaps, only catch me. I don't like their terminal from the word "generally". It lacks tools for analysis, and performance leaves much to be desired. Another disadvantage is that access to margin trading is opened from $2,000 in the account balance. But still, I lingered here, because there are pluses: trading without spreads, increased leverage on intraday trading and a demo account for testing strategies. I don’t see a worthy replacement among competitors yet, I stay with Webull until better times.
-
Comment
I won’t complain about Webull either. My homie advised me to cooperate with this broker and I immediately checked its legal documents. It’s as clear as day, the company operates in the legal field. Trust my experience, there are a lot of scammers these days but Webull is not one of them. The broker's terminal is rock-solid, and after the last update, it became even more convenient to use it compared to before. Everything is smooth with payments and the company strives to make the process even better.
-
Comment
I opened an account with Webull a year ago, the company's experts helped to develop a strategy and decide on financial instruments. I cannot say that I am very impressed with the results, but there is an indisputable plus from our cooperation. Transactions are well protected, there is no commission for withdrawing funds from the account.
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.
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.