Oanda vs Saxo Bank

OANDA vs Saxo Bank Comparison Table 2024
OANDA	Saxo Bank
Review 4.3	Review 4

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 remains 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.	Saxo Markets is a multi-award-winning trading brokerage, investment firm and regulated bank. With a huge 72,000+ trading instruments, plus investment products and managed portfolios, clients have no shortage of opportunities. The trusted brand also offers transparent pricing and top-tier regulatory protection from 10+ agencies including FINMA, FCA & ASIC.
Customer Reviews
4 Based on 3 OANDA customer reviews	4 Based on 1 Saxo Bank customer reviews
Comment by Reviewer
"OANDA will serve day traders looking for a trustworthy broker with a beginner-friendly platform, superb research and straightforward account opening. The $0 minimum deposit and excellent customer support makes it especially attractive to newer traders."	"Saxo is best for active traders and high-volume investors with an unrivalled selection of instruments alongside premium market research and fee rebates. The 190 currency pairs with tight spreads also make Saxo great for forex traders."
Pros
The OANDA Trade web platform serves serious day traders, with 100+ technical indicators, an economic overlay and a Dow Jones news feed OANDA recently introduced a prop trading service, OANDA Labs Trader, offering a 75% profit share to skilled traders The guaranteed stop loss order (GSLO) is a useful risk management tool not available at many alternatives There are no restrictions on short-term trading strategies with scalping, hedging and netting permitted OANDA has enhanced its suite of stocks, now providing exposure to over 2,200 US and European shares With 68 forex pairs and access to a premium MT4 upgrade, the broker will serve active forex traders Oversight from tier-one regulators like the FCA and ASIC makes the broker reliable and trustworthy The $0 minimum deposit will appeal to newer traders Spreads are tight and there are zero hidden fees	Powerful proprietary trading platforms with comprehensive charting packages and advanced analysis tools High-level research hub with curated market research, plus unique insights with 'Outrageous Predictions' Excellent educational resources including podcasts, webinars and expert-led video insights Access to comprehensive third-party analysis tools including TradingView and Updata The ISA account is highly accessible and flexible with no entry or exit fees Heavily regulated and trustworthy brand based in Switzerland Low fees with premium account tiers
Cons
The range of payment methods trail competitors, only offering a handful vs the 10+ available at alternatives like AvaTrade It's a shame that social and copy trading tools aren't supported for traders who want to explore other ways to trade High-volume day traders get limited fee rebates or perks compared to leading brands Weekend customer support and extended hours trading aren't available	High funding requirements for the trading accounts Access to Level 2 pricing requires a subscription Clients from some jurisdictions not accepted including the US and Belgium
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
CFDs, Forex, Stocks, Indices, Commodities, Crypto, Bonds, ETFs, Spread Betting	Forex, CFDs, indices, shares, commodities, cryptocurrencies, futures, options, warrants, bonds, ETFs
Demo Account
Yes	Yes
Minimum Deposit
$0
Trading Platforms
OANDA Trade MT4 TradingView AutoChartist	TradingView
Payment Methods
Credit Card Debit Card Mastercard Neteller Skrill Trustly Visa Wire Transfer	Credit Card Mastercard Visa Wire Transfer
Minimum Trade
0.01 Lots	Vary by asset
Regulator
FCA, ASIC, KNF, MAS, CIRO, FFAJ, BVI	DFSA, MAS, FCA, SFC
Margin Trading
Yes	No
Margin Rate
2%
STP Account
No	No
ECN Account
No	Yes
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	SaxoTraderGo (iOS, Android, Windows)
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
Trade Signals
	Yes
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
$10
Islamic Account
No	Yes
Account Currencies
USD EUR GBP CAD AUD JPY CHF HKD SGD	USD EUR GBP CAD AUD JPY SEK DKK CHF
Stock Exchanges
Australian Securities Exchange (ASX) CAC 40 Index France DAX GER 40 Index Dow Jones Euronext FTSE UK Index Hang Seng London Stock Exchange Nasdaq Russell 2000 S&P 500	London Stock Exchange New York Stock Exchange S&P 500 Shenzhen Stock Exchange Toronto Stock Exchange
Commodities
Copper Corn Gold Natural Gas Oil Palladium Platinum Silver Soybeans Sugar Wheat	Copper Corn Gold Natural Gas Oil Silver
CFD Trading
You can speculate on popular financial assets covering forex, commodities, indices, metals and bonds. You can get started with $0 minimum deposit, making the broker a good pick for beginners. There’s also over 130 technical indicators available collectively in the MT4 and OANDA Trade platforms.	Trade 8,900+ CFDs spanning forex, stocks, indices, commodities, options and bonds with powerful tools and signals.
Leverage
	1:30
FTSE Spread
1.0	1.2 pts (Variable)
GBPUSD Spread
1.4	0.7 (var)
Oil Spread
3.0	0.03
Stocks Spread
12 (Apple Inc)	0.10% (subject to min commission)
Forex Trading
OANDA offers 68 currency pairs, which is above the industry average. You can speculate on majors, minors and exotics, with spreads from 0.8 pips on popular pairs. There are no commissions and leverage is available up to 1:200. Average execution speeds are fast based on tests, at 12 milliseconds.	Tier 1 liquidity on an impressive range of 189 currency pairs and spot metals, plus 130 forwards, from 0.4 pips.
GBPUSD Spread
1.4	0.7 (varies by region)
EURUSD Spread
0.8	0.2 (varies by region)
EURGBP Spread
0.9	0.6 (varies by region)
Assets
68	40+
Cryptocurrency
OANDA offers trading on leading cryptocurrencies, including Bitcoin. You can place trades in the app hassle-free and practice in the unlimited demo account. The broker offers guaranteed stop-loss orders to help protect you against crypto market volatility.	Trade cryptos against major fiat currencies or take a longer-term view with ETNs.
Spread
$100	Variable
Coins
BTC ETH LTC BCH PAXG LINK UNI AAVE	BTC ETH LTC XRP XTZ SOL ADA DOT
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

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