There are several helpful tutorials and committed support staff available for newcomers. OANDA uses Secure Sockets Layer (SSL) encryptions on its trading platforms and websites to protect its customers from hackers and other cybercriminals. worldtradex offers more security to traders and has a much higher trust score than OANDA overall.
How many Forex pairs can I expect from these brokers?
Oanda is also a market maker, as opposed to worldtradex which is an enhanced execution broker. The latter is better for retail clients because the matching algorithm always displays the best bid and ask prices from a multitude of different liquidity providers). Oanda and the worldtradex group of companies are regulated by different top-tier financial authorities around the world. A major difference, however, is that traders from the United States are not eligible to apply for a live trading account with worldtradex, while Oanda’s services are available to U.S. residents.
This website and its content are not intended to provide professional or financial advice. The views expressed here are based solely on the writer’s opinion, research, and personal experience, and should not be taken as factual information. The author is not a financial advisor and lacks relevant certifications in that regard. We compare side by side the trading risk management features offered by worldtradex and Oanda below. worldtradex does offer clients STP accounts, while Oanda does not offer clients STP accounts. worldtradex does offer clients Islamic accounts, while Oanda does not offer clients Islamic accounts.
After testing 62 of the best forex brokers, our research and account testing finds that OANDA is better than worldtradex. OANDA finished with an overall rank of #12, while worldtradex finished with an overall rank of #15. The broker provides a seamless experience with additional plugins and a user-friendly interface. If you’re keen on using MT4, you might want to check out this list of the best MT4 brokers.
When it comes to online trading, comparing OANDA and worldtradex offers insight into their respective Worldtradex forex broker commissions and fees. OANDA is known for its high trading costs, primarily due to its effective spreads. While not the most affordable option, it does offer automated execution across its account types. The company’s bid/ask spreads align with brokers like FOREX.com and FxPro, although OANDA’s minimum spread is slightly higher than those firms offering sub-pip spreads. OANDA provides a “core pricing” structure that offers lower spreads with a $5 commission per $100,000 of currency traded, requiring a $10,000 minimum deposit. This results in a total cost slightly better than its commission-free pricing.
While Oanda is a market maker, worldtradex is an enhanced execution broker. What this boils down to is that worldtradex is more likely to have better effective spreads than Oanda. For example, a trader is more likely to have his orders executed at the specified/desired price or even at a better price (positive slippage).
worldtradex Vs Oanda Verdict
50 units of the account’s base currency yearly after 1 year of inactivity. These are derivative products that let you trade a fraction of the value of the asset you’re trading. If you’re basing your selection on security, neither of these two brokers has a spotless history.
While they may not be suitable for all traders, those with the necessary experience and expertise can benefit greatly from using an ECN account. As well, both market makers and stp brokers provide a valuable service to the greater forex and trading marketplace. But they fulfill very different roles and thus their inherent business structure will reflect each company’s unique role and purpose. The one notable downside here is the lack of social trading tools.
- The broker has also confirmed that it does not make use of an order book, which means that the orders placed by customers are not used to either offer or take liquidity.
- Like worldtradex, OANDA has a commission account called their Cores spread account, and it is available in Australia, Singapore and the US.
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- From my perspective, worldtradex is the better option for UK Forex traders.
- We compare side by side the trading risk management features offered by worldtradex and Oanda below.
- It also helps worldtradex offer access to a wide range of financial markets with decent liquidity.
Security and Trust
worldtradex also offers a selection of articles broken down by experience level, catering to beginner, intermediate, and advanced traders. Although worldtradex has fewer forex pairs to trade, we feel they deserve a higher Tradable Products score than OANDA primarily because of OANDA’s lack of shares to choose from. OANDA is no slouch with 68 forex pairs, and we note that as a positive. But again, we feel that brokers today need to offer shares trading. worldtradex and OANDA are both market-maker brokers with identical leverage offerings.
Both brokers offer better trading conditions for traders with large trading accounts or those (worldtradex traders) who maintain a certain minimum monthly trading volume. For users keen on creating watchlists with real-time quotes or changing time frames on charts, both OANDA and worldtradex have got you covered. Their apps auto-save chart drawings, ensuring your technical analyses are preserved. OANDA’s mobile app holds a higher user rating with a solid 5-star score, while worldtradex is rated at 4.5 stars.
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly. OANDA has a lower minimum deposit requirement of $0 vs $50 from worldtradex. Having said that, if you use cards or Trustly as your payment option, both channels require at least $25 or equivalent. We consider both brokers a toss-up with commodities as they have virtually equal offerings.
Compare worldtradex Vs Oanda Side by Side
Simple advice, we admit, but we know from experience how many people decide to start trading and then ask questions later. Please know what you are doing with worldtradex or Oanda before investing money into something. Limit orders are when you have the order to buy a financial instrument at a specific price.
Your trade will be executed when the financial asset hits a set price. Limit orders are extremely useful as they allow you to buy stock at a better price! It would be very time-consuming to wait for a stock to fall to a price you would ultimately be satisfied by.
- OANDA uses Secure Sockets Layer (SSL) encryptions on its trading platforms and websites to protect its customers from hackers and other cybercriminals.
- On deposits via debit card or ACH, this broker refrains from charging for your first withdrawal each calendar month.
- Most of the forex trading occurs on major currency pairs such as EUR/USD, USD/JPY, GBP/USD, USD/CHF.
- This comparison article lays out the features of both brokers in detail, so you can see which is the best platform according to your needs.
- The bank of resources is extensive and an advantage of trading with worldtradex.
For instance, while standard account spreads on the EUR/USD averaged 0.78 pips in the EU, U.K., and Australia, its commission-based accounts offer spreads as low as 0.28 pips, excluding commissions. Commissions are added to this, leading to an effective spread around 0.74 pips. worldtradex also features the Active Trader Rebate Program, which provides discounts ranging from $5 to $25 per million traded, contingent on trade volume.
The prices of cryptocurrencies can experience extreme highs and lows. If you choose to invest in cryptocurrencies, allocating only a fraction of your portfolio or trading budget to it is essential. Crypto trading with worldtradex or Oanda could lead to one of the most exciting trades you’ve ever made, depending on the market. Please remember that cryptocurrency availability on worldtradex, Oanda, and all brokers are subject to regulation.
Commodity Futures Trading Commission for defrauding its retail clients. worldtradex misled these clients to believe that it was a ‘no dealing desk’ broker and that its interests were aligned with that of its clients. Oanda, on the other hand, is known to be a ‘market maker’ (dealing desk) broker, which means that it can take the other side of its clients’ trades (trade against its clients). A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering. However, worldtradex stands out with its support for ZuluTrade and a more extensive watchlist functionality featuring 13 columns as opposed to OANDA’s 6.