ETX Capital vs OANDA
If you are reading this article, you’re likely having trouble deciding whether ETX Capital vs 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 ETX Capital vs OANDA review, we outline the highlights of each trading platform to help you make a more informed decision. We evaluate:
|ETX Capital (visit site)
|OANDA (visit site)
|CFTC, IIROC, FCA, ASIC, MAS, IFFA
Type of Broker:
U.S. Clients Allowed:
Commissions / Spreads:
Features and Platforms
As one of the most experienced financial firms, traders continue to trust ETX Capital. It presents its proprietary trading platform ETX TraderPro alongside the well-known MT4 trading platform. Beginner traders will benefit from the ETX Trading Academy, in partnership with Corellian Academy, while ETX Capital also maintains a high net worth (HNW) service desk. Oanda features a less advanced proprietary trading platform than ETX Capital but one of the best MT4 trading environments due to its 28 plug-ins. Oanda also offers quality market commentary and trading ideas on its blog MarketPulse.
|Type of Platform:
|MetaTrader 4, Proprietary platform, Web-based
|MetaTrader 4, Proprietary platform, Web-based
Guaranteed Stop Loss:
Guaranteed Limit Orders:
Interest on Margin:
Traders at ETX Capital enjoy an excellent asset selection. Forex traders get 75 currency pairs and 26 Forex forward contracts, ranking it among the Top 10. Only seven cryptocurrency pairs are available, but 26 commodity CFDs, 34 index CFDs and futures, ten ETFs, and twelve bond CFDs. ETX Capital shines with 5,000+ equity CFDs listed in twelve countries on multiple exchanges. Oanda provides access to 61 currency pairs, six non-index futures, 22 commodities, of which most are gold and silver quoted in various currencies, 16 index CFDs, and five bond CFDs. ETX Capital trumps Oanda in this category.
Typical Spreads and Fees
The commission-free cost structure at ETX Capital for its proprietary trading platform commences with a highly competitive 0.6 pips for the EUR/USD or $6.00 per 1.0 standard lot. For MT4 traders, the costs increase to 0.8 pips or $8.00. Equity traders pay an industry-average commission between 0.10% and 0.20%, dependent on the market. Oanda provides all clients with a minimum spread of 0.6 pips, regardless of the trading platform. The volume-based rebate program at Oanda lowers final trading costs. Swap rates on leveraged overnight positions apply at both brokers, together with potential third-party payment processor costs.
Security and Trust
ETX Capital, the trading name of Monecor (London) Ltd, now owned by Swiss private equity firm Guru Capital, operates under the UK FCA framework. Monecor (London) Ltd is also a member of the London Stock Exchange (LSE). Monecor (Europe) Ltd. (ex Investments and Insurance Advisers and Sub Agents Limited) caters to EU-based traders with a license from the CySEC. Oanda counts the IIROC, the FCA, the MAS, and the ASIC as its regulators. Both brokers provide negative balance protection and segregate client deposits. ETX Capital and Oanda maintain a spotless track record and a secure trading environment.
ETX Capital vs OANDA – Verdict
While ETX Capital caters to clients since 1965, its retail unit became operational in 2002. For over 55 years, ETX Capital built a trustworthy financial firm and recognized brand. Its award-winning proprietary ETX TraderPro offers a professional user interface and quality trading tools. Regrettably, it does not support algorithmic trading. For that purpose, ETX Capital maintains the MT4 trading platform, upgraded via its ETX MT4 Remastered. The educational section an ETX Capital is a valuable resource for beginner traders, while advanced ones benefit from more than 5,000 assets. Oanda counters with one of the most upgraded MT4 trading platforms, as it presents 28 plug-ins. The asset selection remains well below ETX Capital, but both brokers deploy a competitive cost structure. Oanda pulls ahead due to its volume-based rebate program. Both brokers present a secure and trustworthy trading environment, but ETX Capital is the overall superior brokerage.
You might also be interested in reviewing the below broker comparisons:
Which is the more reliable broker?
ETX Capital has more experience as a financial firm but less as a retail broker, catering to clients since 2002. Oanda began its journey in 1996. but both present an equally reliable trading environment.
Is ETX Capital or OANDA safer for Forex and CFDs trading?
Both brokers remain fully compliant with their regulators and enjoy a clean track record. Negative balance protection is available at ETX Capital and Oanda. Therefore, both are on an equal level of safety, security, and trust.
How many Forex pairs and CFDs are available to trade?
ETX Capital maintains 75 currency pairs and 26 Forex forward contracts for a total of 101, plus 5,000+ CFDs. Oanda has 61 Forex pairs and 49 CFDs.
Which trading platform is better: ETX Capital or Oanda?
ETX Capital presents a better proprietary trading platform, but Oanda maintains a superior MT4 trading platform.