Related search requests are among the most popular among traders. So, there are lots of related articles on the Web. But most of them are too lengthy. Thus, we would like to offer our own comparative analysis of the two brokers mentioned, which covers all the most crucial aspects but is easy and quick to study.
As of now, both Oanda and Forex.com are holding leading positions among other brokerage services and enjoy undisputable trust among traders. So, if you plan to switch to a new broker, these two platforms are definitely worth visiting.
To help you form a realistic and comprehensive opinion about Oanda vs Forex.com, we will provide their key characteristics in short.
Oanda:
+ available and regulated in the USA;
+ real-time market updates and news;
+ a simple interface, which is friendly to newbies;
+ 120 markets;
+ 70 currency pairs;
+ Forex pairs, CFDs, options, spread betting, futures, indices, bonds, metals,
+ extended fundamental analysis functionality;
+ cheaper fees and commissions in general;
+ no requotes;
+ an extremely low minimum deposit limit ― $1;
+ copy trading;
+ easy access to financial data;
+ highly-effective and diversified educational materials;
+ support is offered in several languages;
– leverage is low;
– no bonuses;
– users’ support does not work around the clock;
– submitting complaints is too complicated;
– slow withdrawals.
Forex.com:
+ regulation by US authorities;
+ a versatile platform that meets the goals of diversified groups of users;
+ high speed of orders;
+ over 4500 markets;
+ 90 currency pairs;
+ fiat currency pairs, CFDs, real stocks, spread betting, options, bonds, futures, metals, industry sectors;
+ tight spreads;
+ advanced safety of investors;
+ an improved technical research interface;
+ rebates and discounts available;
+ daily news and educational content publications;
+ its mobile environment is more favorable;
– an initial deposit minimum is rather high ― $100;
– no passive earning opportunities;
– customers report certain problems with the quality of its technical support service;
– a selection of deposit and withdrawal methods is smaller compared to Oanda;
– no video content for learning;
– the platform is available in English only.
In sum, we can say that neither of the sources mentioned has any critical drawbacks, both of them provide a decent level of service and charge reasonable fees. Yet, Forex.com is an indisputable leader in terms of trading opportunities and an assortment of assets. At the same time, one can say that Oanda is a more comfortable platform for novice traders as it offers support in multiple languages by email, chat, and phone along with top-notch educational guides, videos, webinars. Besides, this broker offers an affordable minimum deposit limit and copy trading functionality, which is a perfect variant for newbies.
