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Oanda vs Kraken

OANDA vs Kraken Comparison Table 2023
OANDA Review 2023 Kraken Review 2023
Review
4.3
Review
3.9

Kraken is #15 in our crypto broker rankings.

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OANDA is an award-winning global broker, established in 1996. The hugely respected brand offers competitive trading accounts and serves clients from 196 countries. It has proven a popular option with both beginners and experienced traders thanks to its user-friendly and sophisticated web platform, no minimum deposit and premium currency products and services. The company is also overseen by reputable regulators, including the FCA, ASIC and CIRO.

Kraken is a leading cryptocurrency exchange with a proprietary trading terminal and a list of 220+ tradeable crypto tokens. Up to 1:5 leverage is available with stable rollover fees on spot crypto trading and up to 1:50 on futures. The exchange also supports crypto staking and has an interactive NFT marketplace.

Bonus Offer
Lower fees when trading volume exceeds $50,000 in 30 days
Comment by Reviewer
"OANDA will serve traders looking for a trustworthy broker with a beginner-friendly platform, best in class research and straightforward account opening. The $0 minimum deposit makes it especially attractive to newer traders and those on a budget." "Kraken will suit traders looking for a diverse list of cryptos including Bitcoin and a good security track record."
Pros
  • Oversight from tier-one regulators make the broker a reliable and trustworthy broker
  • The guaranteed stop loss order (GSLO) is a useful risk management tool not available at many alternatives
  • We found the OANDA web platform easy to learn and rated the sophisticated charting tools
  • The brand has an excellent reputation and 25 years experience with a string of awards
  • No restrictions on trading strategies with scalping, hedging and netting permitted
  • The $0 minimum deposit will appeal to newer traders
  • With 68 forex pairs the broker will serve active forex traders
  • Spreads are tight and there are zero hidden fees
  • Very good security track record with no hacks in a decade since launch
  • Excellent range of 220+ more established cryptocurrencies
  • NFT marketplace and crypto staking available
  • Great trading platform and mobile app
  • Low exchange fees on Kraken Pro
  • 50x leverage on futures trading
  • Low minimum deposit of $10
  • 3D secure required
  • Mobile investing
  • Crypto staking
Cons
  • There is a narrow range of payment methods with no PayPal
  • High-volume traders get limited fee rebates or perks
  • Weekend customer support isn't available
  • Social and copy trading tools aren't supported
  • Slow verification process on Pro account
  • Does not support many newer altcoins
  • Low leverage on spot trading
  • Does not accept fiat deposits
  • Slow verification times
Awards
  • 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
Instruments
Stocks, Spreadbetting, CFD, Forex, Crypto Cryptos
Demo Account
Yes Yes
Minimum Deposit
$0 $10
Trading Platforms
  • MT4
  • MT5
  • TradingView
  • AutoChartist
  • AlgoTrader
Payment Methods
Minimum Trade
$0 Variable
Regulator
FCA, ASIC, MFSA, MAS, CIRO, FFAJ, BVI FCA, FinCEN, FINTRAC, AUSTRAC, FSA
Margin Trading
Yes Yes
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
Yes No
Market Maker
Yes No
P2P Trading
No No
Spot Trading
Yes Yes
Mobile Apps
OANDA Trade, MT4 Yes
Auto Trading
Expert Advisors (EAs) on MetaTrader Kraken Futures is integrated in other platforms which have bots: Bookmap, Caspian, FMZ Quant, Gunbot, HaasOnline, Hyndor, Margin
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
Yes No
Inactivity Fee
$0
Islamic Account
No No
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • CHF
  • HKD
  • SGD
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • CHF
Stock Exchanges
Commodities
CFD Trading
Speculate on popular financial assets covering forex, commodities, indices, metals and bonds. Clients can trade CFDs on the award-winning MT4 platform or the firm's beginner-friendly web trader. CFD trading not offered
Leverage
1:30
FTSE Spread
1.0
GBPUSD Spread
1.4
Oil Spread
3.0
Stocks Spread
Variable
Forex Trading
OANDA offers 68 currency pairs, more than most forex brokers, covering majors, minors and exotics. The OANDA Trade platform also offers powerful technical analysis tools while average execution speeds are fast at 12 ms. Forex trading not offered
GBPUSD Spread
1.4
EURUSD Spread
0.8
EURGBP Spread
0.9
Assets
68
Cryptocurrency
OANDA offers trading on leading cryptocurrencies, including Bitcoin. We rate the low fees which start at 0.25% and that you can place trades in the app hassle-free. Kraken is a specialized crypto exchange and supports more than 220 cryptocurrencies. These include all of the established tokens like Bitcoin as well as some altcoins. Traders can make trades on spot crypto markets with up to 1:5 leverage or on futures with up to 1:50. Fees are low and the platform is super easy to pick up.
Spread
$100 0-0.26% average
Coins
  • BTC
  • ETH
  • LTC
  • BCH
  • PAXG
  • LINK
  • UNI
  • AAVE
  • AAVE
  • ALGO
  • ANT
  • REP
  • REPV2
  • BAT
  • BAL
  • XBT
  • BCH
  • ADA
  • LINK
  • COMP
  • ATOM
  • CRV
  • DAI
  • DASH
  • MANA
  • XDG
  • EWT
  • EOS
  • ETH
  • ETC
  • FIL
  • FLOW
  • GNO
  • ICX
  • KAVA
  • KEEP
  • KSM
  • KNC
  • LSK
  • LTC
  • MLN
  • XMR
  • NANO
  • OCEAN
  • OMG
  • OXT
  • PAXG
  • DOT
  • QTUM
  • XRP
  • SC
  • XLM
  • STORJ
  • SNX
  • TBTC
  • USDT
  • XTZ
  • GRT
  • TRX
  • UNI
  • USDC
  • WAVES
  • YFI
  • ZEC
  • BNB
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No Yes
Auto Market Maker
No No
Review
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