Oanda vs Trader’s Way

OANDA vs Trader's Way Comparison Table 2024
OANDA Trader's Way
4.3
1.3
United States Flag Traders from US not accepted
United States Flag Traders from US not accepted

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.

Trader's Way is an offshore broker offering highly leveraged trading on dozens of forex pairs as well as cryptocurrencies and commodities through the MetaTrader 4, MetaTrader 5 and cTrader platforms. The broker has a decade of experience serving retail traders and provides 24/7 customer support.

Customer Reviews
4
Bonus Offer
100% deposit bonus up to $5,000
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." "Trader's Way is best for traders interested in social investing with a low starting deposit and crypto funding solutions."
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
  • Tight spreads starting from zero and low commissions
  • Good selection of trading platforms including MT4
  • Social trading with MetaQuotes and FxStat
  • Decent range of 40+ currency pairs
  • Low deposit of $10 for beginners
  • High leverage up to 1:1000
  • VPS for active traders
  • Free demo account
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
  • Legal disputes under the State of Missouri
  • Unregulated status raises safety concerns
  • Lack of educational materials
  • Limited non-FX instruments
  • Complaints about payments
  • No US or UK clients accepted
  • Stock trading not available
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, cryptocurrencies, commodities
Demo Account
Yes Yes
Minimum Deposit
$0 $10
Trading Platforms
  • OANDA Trade
  • MT4
  • TradingView
  • AutoChartist
  • MT4
  • MT5
  • cTrader
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
FCA, ASIC, KNF, MAS, CIRO, FFAJ, BVI
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
Yes No
Market Maker
Yes No
P2P Trading
No No
Spot Trading
Yes No
Mobile Apps
OANDA Trade, MT4 Yes
Android App Rating
3.7
iOS App Rating
4.7
Auto Trading
Expert Advisors (EAs) on MetaTrader Yes
Copy Trading
No Yes
Copy Trading Platform
Use market signals from experienced traders to start copy trading alongside established investors. cTrader in particular offers an easy way to start mirroring the strategies of other users.
Social Trading
No Yes
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
Stock Exchanges
Commodities
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. CFDs are available on metals, energies and cryptocurrency pairs with flexible leverage, NDD/STP execution and no strategy restrictions. On the negative front, the selection of commodities is limited and market research trails the best brokers.
Leverage
1:200 1:1000
FTSE Spread
1.0 N/A
GBPUSD Spread
1.4 0.5
Oil Spread
3.0 0.1
Stocks Spread
12 (Apple Inc) N/A
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. 42 forex pairs are available on three powerful trading platforms, including MT4 and MT5. The broker offers some of the highest leverage we have seen up to 1:1000, alongside competitive spreads from 0.5 pips on majors like the EUR/USD.
GBPUSD Spread
1.4 0.5
EURUSD Spread
0.8 0.5
EURGBP Spread
0.9 0.6
Assets
68 42
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. Traders can access nine crypto pairs including BTC/USD, ETH/USD and XRP/USD with leverage up to 1:20. However the selection is narrower than many rivals.
Spread
$100 Floating
Coins
  • BTC
  • ETH
  • LTC
  • BCH
  • PAXG
  • LINK
  • UNI
  • AAVE
  • BTC
  • BCH
  • ETH
  • LTC
  • DSH
  • XMR
  • ZEC
  • ETC
  • XRP
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
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