OANDA US vs Olymp Trade

OANDA US vs Olymp Trade Comparison Table 2024
OANDA US Olymp Trade
4.5
1.5

OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available for short-term traders, alongside flexible contract sizes and automated trade executions.

Olymp Trade was established in 2014 and now boasts over 89 million traders. With a presence in over 130 countries and support in 13 languages, the brand offers a stable platform and attractive rewards for new traders. Olymp Trade also offers fixed time trades (FTT) over a diverse range of markets. The brand is licensed offshore by the VFSC.

CFDs are not available to residents in the United States.
Customer Reviews
4
Comment by Reviewer
"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score." "Olymp Trade remains a good choice for beginners looking for a user-friendly bespoke platform and mobile app, plus 24/7 customer support. The $10 minimum deposit makes it easy to get started, however, the range of additional day trading tools trails competitors."
Pros
  • The proprietary OANDA web platform continues to deliver a highly competitive charting environment, including 65+ technical indicators powered by TradingView
  • Seasoned day traders can access industry-leading tools, including an MT4 premium upgrade and advanced charting provided by MotiveWave
  • OANDA is a reliable, trustworthy and secure brand with authorization from tier-one regulators including the CFTC
  • The broker's API facilitates access to 25 years of deep historical data and rates from 200+ currencies
  • There's a strong selection of 68 currency pairs for dedicated short-term forex traders
  • The broker offers a transparent pricing structure with no hidden charges
  • Beginners can get started easily with $0 minimum initial deposit
  • Day traders can enjoy fast and reliable order execution
  • Short-term strategies are catered to with scalping signals and chart timeframes from 5 seconds
  • Diverse range of day trading markets including commodities, cryptos and composite indices
  • Over 10 flexible payment methods available including bank cards and Bitcoin deposits
  • Beginner-friendly blog section with analytics, trading education and market news
  • Minimum deposit and withdrawals of only $10, ideal for newer traders
  • Fixed time trades (FTT) on popular markets with payouts up to 93%
  • 24/7 customer support via the broker's hotline, email or live chat
  • Commission discounts up to 20% for experienced investors
Cons
  • It's a shame that customer support is not available on weekends
  • The range of day trading markets is limited to forex and cryptos only
  • There's only a small range of payment methods available, with no e-wallets supported
  • Weak regulatory oversight and offshore registration means traders will receive limited safeguards compared to top alternatives
  • Only one proprietary platform available, with no access to popular third-party software such as MT4 or cTrader
  • Commissions charged on all assets - up to 15% on standard trades and up to 10% on FTT
  • The best conditions are available only to those who can deposit at least $500
  • Very limited range of charting tools and indicators on the platform
  • Research and education trails most alternatives
  • Limited transparency on the website
Awards
  • Best US Broker 2023 - DayTrading.com
  • Best Trading Tools winner 2021 - Online Personal Wealth Awards
  • Awarded highest overall client satisfaction 2021 - Investment Trends US Leverage Trading Report, Margin Forex
  • Awarded highest client satisfaction for mobile platform/app 2021 - Investment Trends US Leverage Trading Report, Margin Forex
  • Voted Most Popular Broker 2021 - TradingView Broker Awards
  • Voted Best Forex and CFD Broker 2021 - TradingView Broker Awards
  • Best Mobile Trading Platform - World Finance Awards 2021
  • Best Investment Broker - The Forex Awards 2021
  • Best FX Trading Platform - Forex Expo 2020
Instruments
Forex, Crypto Forex, CFD, Stocks, Indices, Commodities, Crypto, ETFs, OTC, Fixed Time Trades
Demo Account
Yes Yes
Minimum Deposit
$0 $10
Trading Platforms
  • OANDA Trade
  • MT4
  • TradingView
  • AutoChartist
  • Olymp Trade Platform
Payment Methods
Minimum Trade
0.01 Lots $1
Regulator
NFA, CFTC VFSC
Margin Trading
Yes No
Margin Rate
2%
STP Account
No No
ECN Account
No No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No No
Market Maker
Yes No
P2P Trading
No No
Spot Trading
Yes No
Mobile Apps
iOS & Android Android & Windows
App Review

OANDA’s app stands out for its deeply customizable interface, ensuring you can tailor every aspect of the trading experience to your strategy, from setting custom notifications to adjusting chart sizes and overlays. This level of personalization, combined with the ability to quickly react to market changes, manage risk, and stay informed with alerts on significant market events, makes it a category leader.

Android App Rating
3.7
iOS App Rating
4.7
Auto Trading
Expert Advisors (EAs) on MetaTrader
Copy Trading
No No
Social Trading
No No
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$0 $10
Islamic Account
No Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • CHF
  • HKD
  • SGD
  • USD
Stock Exchanges
Commodities
CFD Trading
CFD trading not offered You can speculate on a small range of CFDs covering popular asset classes such as forex, indices, commodities, cryptos and ETFs. Whilst prices trail the best brokers, the CFD trading platform is a compelling solution for beginners looking for simplicity, and you can get started with just $10.
Leverage
1:50
Forex Trading
OANDA offers a diverse selection of 68 currency pairs, more than many alternatives. The broker’s in-house platform offers superb day trading capabilities via powerful TradingView charts, including 65+ technical indicators and 11 customizable chart types. Olymp Trade offers the industry average of around 30 currency pairs. Spreads came in at 1.1 pips for EUR/USD during tests, which is not the most competitive compared to leading brands like AvaTrade (0.9 pips). That said, experienced traders can access multipliers up to x500 on major pairs.
Forex App

The FxTrade app is OANDA’s proprietary forex trading application. One-click trading, historical price history and straightforward account management is available. Traders can speculate on 68 major, minor and exotic currency pairs. The forex app is available to download from the Apple App Store and Google Play.

GBPUSD Spread
3.4
EURUSD Spread
1.6 1.1
EURGBP Spread
1.7
Assets
65+ 30+
Currency Indices
  • USD
Cryptocurrency
You can speculate on the world’s biggest cryptos by market cap. Commissions are lower than many peers starting at 0.25%. Through the broker’s partnership with Paxos, clients can spot trade cryptocurrencies on the itBit exchange through the OANDA native platform. Olymp Trade offers a handful of leading cryptos like Bitcoin and Ethereum. The Basic Altcoin Index is also a great addition, offering broader exposure to the currency market for those that don't want to put all their money in one crypto.
Spread
$100 Variable
Coins
  • BTC
  • ETH
  • LTC
  • BCH
  • PAXG
  • LINK
  • UNI
  • AAVE
  • BTC
  • ETH
  • LTC
  • DASH
  • AVX
  • BNB
  • BCH
  • LNK
  • DOGE
  • GLM
  • SOL
  • XTZ
  • XRP
  • ADA
  • DASH
  • EOS
  • KSM
  • MAT
  • DOT
  • XLM
  • UNI
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Binary Options
Binary options trading not offered Olymp Trade offers fixed time trades (FTT) on a diverse but modest range of markets, from OTC currencies to composite indices. FTT commissions are charged between 5%-10% and you can trade with ultra-short time frames from 5 seconds. Payouts are available up to 93% for those who can afford the $2000 'Expert' status deposit.
Payout
93%
Expiry Times
5 seconds - 23 hours
Ladder Options
No No
Boundary Options
No No
CFDs are not available to residents in the United States.
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