Oanda vs TradeStation

OANDA vs TradeStation Comparison Table 2024
OANDA TradeStation
4.3
3.5

TradeStation is #13 in our CFD broker rankings.

United States Flag Traders from US not accepted
United States Flag Traders from US 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.

TradeStation is a popular, SEC-regulated broker offering stock, CFD and futures trading through powerful proprietary trading platforms. Available assets vary by region, with CFD trading available on the global branch. The US-based broker has different pricing methods split to cater for active day traders, or longer term stock holders.

Customer Reviews
4
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." "TradeStation is a secure, tried-and-tested broker for stock traders who want a powerful, flexible platform. The $500 minimum deposit makes this broker a better fit for experienced 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
  • Reputable brand with oversight from top US regulators
  • Powerful trading platform with desktop, webtrader and mobile app
  • Support for third-party platform add-ons
  • Fast and responsive customer service
  • Quick, straightforward account setup
  • Competitive commissions on US stocks
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
  • Limited ETF options with no commission-free ETFs
  • Expensive subscription fees for many add-ons
  • Pricing disadvantages less active traders
  • Limited free data and in-depth research
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 CFDs, Forex, Stocks, Futures, Commodities
Demo Account
Yes Yes
Minimum Deposit
$0 $500
Trading Platforms
  • OANDA Trade
  • MT4
  • TradingView
  • AutoChartist
  • MT4
Payment Methods
Minimum Trade
0.01 Lots Min lot size will vary
Regulator
FCA, ASIC, KNF, MAS, CIRO, FFAJ, BVI SEC
Margin Trading
Yes No
Margin Rate
2%
STP Account
No No
ECN Account
No No
DMA Account
No Yes
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 iOS, Android and 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
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 No
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • CHF
  • HKD
  • SGD
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • CHF
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. Trade CFDs on popular asset classes, including forex and stocks. FX CFD commissions are competitive at 0.6 basis points while for shares it's a minimum of $3 per order.
Leverage
1:200 1:20
FTSE Spread
1.0 N/A
GBPUSD Spread
1.4 N/A
Oil Spread
3.0 0.06 pips
Stocks Spread
12 (Apple Inc) 0.2% Var
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. Speculate on 26 currencies including majors. Top-tier liquidity is available from 17 of the biggest forex dealing banks, alongside dynamic order management and low commissions.
GBPUSD Spread
1.4 Variable
EURUSD Spread
0.8 Variable
EURGBP Spread
0.9 Variable
Assets
68 26
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. Crypto trading not offered
Spread
$100
Coins
  • BTC
  • ETH
  • LTC
  • BCH
  • PAXG
  • LINK
  • UNI
  • AAVE
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No Yes
Auto Market Maker
No No
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