AvaTrade vs Oanda
If you are reading this article, you’re likely having trouble deciding whether AvaTrade or OANDA is the better Forex trading platform for you. While both platforms generally provide positive user experiences, there are some essential differences to note.
In this AvaTrade vs OANDA review, we outline the highlights of each trading platform to help you make a more informed decision. We evaluate:
|Feature||AvaTrade (visit site)||Oanda (visit site)|
|MiFID, Central Bank of Ireland, FSA, ASIC, BVI, FFAJ, FSCA, ADMG - FRSA||CFTC, IIROC, FCA, ASIC, MAS, IFFA|
Type of Broker:
U.S. Clients Allowed:
Commissions / Spreads:
Features and Platforms
AvaTrade and Oanda are two well-known online brokers active in the retail sector. Oanda has more experience, being founded in 1996, versus AvaTrade in 2006, but both execute a transparent and trustworthy business model. AvaTrade shines in platform choices where it features five plus two options for social trading. Oanda offers the MT4 trading platform to support automated traders, while manual ones may prefer the proprietary Oanda Trade alternative. Both grant new traders a quality educational division, but Oanda provides more trading tools to support day-to-day trading together with dedicated support for third-party developers. It's Market Pulse division offers valuable research to clients, substituted at AvaTrade with market commentary.
|Type of Platform:||MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based||MetaTrader 4, Proprietary platform, Web-based|
Guaranteed Stop Loss:
Guaranteed Limit Orders:
Interest on Margin:
Forex traders have 55 currency pairs at AvaTrade, bested at 70 provided at Oanda. The former provides clients with a visible edge due to 982 equity CFDs, while the latter does not offer equity trading. The commodity and index portfolio is also more inclusive at AvaTrade, but Oanda offers more bonds. The commodity selection at Oanda remains limited to just gold, silver, platinum, and palladium, quoted in numerous currencies for a minor increase in diversification. While pure Forex traders will prefer Oanda over AvaTrade, those seeking a more-complete product portfolio will benefit from over 1,250 assets at AvaTrade, allowing for superior cross-asset diversification and expanded trading opportunities.
Typical Spreads and Fees
Both brokers offer commission-free trading, but Oanda grants traders a friendlier mark-up. AvaTrade lists the EUR/USD with a spread of 0.9 pips versus 0.6 pips at Oanda. It will have a notable impact on portfolios, especially for frequent traders. The most significant daily trading cost at AvaTrade and Oanda remains swap rates on leveraged overnight positions. Both waive deposit fees, but withdrawals may face third-party levies, while bank wires carry and an internal one as well. Oanda applies a 0.5% currency conversion cost and a $10 or a currency equivalent inactivity fee, where AvaTrade charges $50 per month, an unacceptably high cost.
Security and Trust
AvaTrade maintains an excellent regulatory record in seven jurisdictions with the Central Bank of Ireland, ASIC in Australia, FSCA in South Africa, FSC in the British Virgin Islands, ADGM-FSRA in the UAE, FSA-FFAJ in Japan, and IIROC in Canada. Oanda possesses an equally clean track record with IIROC and ASIC, together with FCA in the UK, MAS in Singapore, and the CFTC in the US. Both brokers remain transparent and honest, segregate client deposits from corporate accounts, and offer negative balance protection. Regardless of which broker new traders settle on, from a security and trust perspective, AvaTrade and Oanda are excellent examples across the online brokerage industry.
AvaTrade vs Oanda – Verdict
The choice between AvaTrade and Oanda comes down to the asset exposure traders desire. Those favoring Forex as their primary market will profit more from the currency pairs and cost structure at Oanda, where clients have more choices and superior pricing. Traders who seek more cross-asset diversification and want to trade global equities will opt for AvaTrade, as Oanda does not offer them. Cryptocurrency enthusiasts also have broader choices at AvaTrade versus Oanda. New traders will receive quality educational content at both brokers, but the Market Pulse section at Oanda adds more research value, missing at AvaTrade, which only provides market commentary. Oanda features superior technology and achieves faster order execution, particularly beneficial to automated traders and scalpers. AvaTrade offers mobile traders a better trading platform. While the minimum deposit of $100 makes this broker available to traders from all economies, Oanda has no minimum deposit, allowing for greater flexibility.
What about MetaTrader and copy trading?
AvaTrade offers clients the MT4 and the MT5 trading platforms, while Oanda only has the MT4. Both brokers only provide out-of-the-box solutions, creating a sub-standard MetaTrader environment that requires upgrades. While Oanda does not support any copy trading providers, AvaTrade allows it via DupliTrade, ZuluTrade, and MQL5 Signal Service. The MetaTrader platforms offer copy trading capabilities.
What are the minimum deposits for these brokers?
The minimum deposit at AvaTrade is $100, which is the average among online retail brokers. Oanda has no requirement, and the minimum deposit depends on the payment processor, where most have it at $1. Oanda does recommend no less than $250. Both brokers remain affordable and accessible, but Oanda provides greater flexibility to build portfolios, primarily to traders with less capital.