Switch Markets vs Oanda

Switch Markets vs OANDA Comparison Table 2023
Switch Markets	OANDA
Review Not Yet Rated	Review 4.5 OANDA is #4 in our broker rankings.
Traders from US not accepted	Traders from US accepted
Switch Markets offers leveraged trading on forex, commodities, indices and cryptocurrencies.	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 authorized by leading regulators, including the CFTC/NFA. Around the clock support is available, alongside flexible contract sizes and automated trade executions.
	CFDs are not available to residents in the United States.
Bonus Offer
100% Deposit Bonus	$5,000 welcome bonus with a deposit of $500
Comment by Reviewer
	"We recommend OANDA for traders seeking a user-friendly platform with premium market research and a straightforward joining process. OANDA is a particularly good pick for US traders with authorization from local regulators and a secure trading environment."
Pros
	Industry-leading platforms including MT4 and TradingView Reliable, trustworthy and secure brand with authorization from tier-one regulators API facilitates access to 25 years of historical data and rates from 200+ currencies The OANDA web platform offers advanced charts plus guaranteed stop-loss orders (GSLOs) Feature-rich app with 50 indicators, 11 drawing tools and 9 charting styles Wide selection of instruments including 70+ forex pairs Transparent pricing structure with no hidden charges Low minimum deposit for beginners US clients accepted
Cons
	Stock trading not available in all countries Customer support not available on the weekend
Awards
	Best US Broker 2023 - DayTrading.com Best Trading Tools winner (Online Personal Wealth Awards 2021) Awarded highest overall client satisfaction (Investment Trends 2021 US Leverage Trading Report, Margin Forex) Awarded highest client satisfaction for mobile platform/app (Investment Trends 2021 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, CFD, Forex, Crypto	Forex
Demo Account
Yes	Yes
Minimum Deposit
$50	$0
Payment Methods
Debit Card FasaPay GlobePay Mastercard Neteller Perfect Money Skrill UnionPay Wire Transfer	Debit card (Visa or Mastercard), Automated Clearing (ACH), bank transfer deposits
Minimum Trade
$1	$0
Regulator
ASIC	CFTC, NFA
Margin Trading
Yes	Yes
MetaTrader 4
Yes	Yes
MetaTrader 5
No	No
cTrader
No	No
AlgoTrader
No	No
OmniTrader
No	No
TradingView
No	Yes
Autochartist
No	Yes
eSignal
No	No
Trading Central
No	No
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	Yes
P2P Trading
No	No
Spot Trading
Yes	Yes
Mobile Apps
iOS & Android	FxTrade, MT4
Auto Trading
Yes - Equinix	EAs
Copy Trading
Yes	No
Copy Trading Platform
Switch Markets offers copy trading services with low fees via the MetaTrader 4 terminal.
Social Trading
Yes	No
Trade Signals
MT4
VPS Hosting
Yes	No
Tournaments
No	No
Demo Competitions
No	No
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
No	Yes
Islamic Account
Yes	No
Account Currencies
USD EUR GBP CAD AUD NZD CHF SGD	USD EUR GBP CAD AUD JPY CHF HKD SGD
Stock Exchanges
Australian Securities Exchange	Australian Securities Exchange CAC 40 Index France DAX GER 40 Index Dow Jones Euronext FTSE UK Index Hang Seng London Stock Exchange Nasdaq Russell 2000
Commodities
Gold Natural Gas Oil Silver	Copper Corn Gold Palladium Platinum Silver Wheat
CFD Trading
Switch Markets offers CFDs on stocks, indices and commodities.	CFD trading not offered
Leverage
1:500	1:30 EU, 1:200 Global
FTSE Spread
1.2	1.0
GBPUSD Spread
0.5	3.4
Oil Spread
2.0	3.0
Stocks Spread
Variable	Variable
Forex Trading
Switch Markets offer 60+ currency pairs, including majors, minors and exotics.	OANDA offers over 70 forex pairs, more than many alternatives. The broker's in-house platform also offers impressive execution speeds and a suite of advanced charting and analysis tools.
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 70 major, minor and exotic currency pairs. The forex app is available to download from the Apple App Store and Google Play.
GBPUSD Spread
0.5	3.4
EURUSD Spread
0.1	1.6
EURGBP Spread
0.6	1.7
Assets
60+	70
Cryptocurrency
Switch Markets offers four cryptocurrencies with competitive fees.	Speculate on the world's biggest cryptos by market cap. Commissions are lower than many peers starting at 0.25%. Users can also trade digital currencies in a few taps through the iOS and Android mobile app.
Spread
Variable	$100
Coins
BTC ETH LTC XRP	BTC ETH LTC BCH PAXG LINK MATIC UNI AAVE SOL
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

Review	Review
	CFDs are not available to residents in the United States.
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