TIO Markets vs OANDA

TIO Markets vs OANDA Comparison Table 2024
TIO Markets OANDA
2.9
4.3
United States Flag Traders from US not accepted
United States Flag Traders from US not accepted

TIO Markets is a global forex and CFD brokerage with both an offshore and UK-regulated branch. The broker has a strong customer focus, with 24/7 telephone and live chat customer service. Traders can access a range of accounts with competitive spreads from 0.4 pips.

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.

Customer Reviews
4
Comment by Reviewer
"After spending some time exploring the accounts, I think TIO Markets is best suited to experienced traders who can deposit at least $1000 to take advantage of the competitive trading conditions available with the VIP accounts. Nonetheless, it would be nice to see a more diverse range of assets on offer in my opinion." "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."
Pros
  • I have found fees to be pretty competitive with TIO Markets, averaging as low as 0.2 pips for GBP/USD on the VIP account
  • The company's 24/7 customer service availability is in line with some of the top brokerages that I have reviewed
  • Another major advantage for me is the free access to Trading Central, an excellent charting and analysis tool
  • TIO Markets offers access to the powerful MT4 and MT5 platforms with market-leading analysis tools
  • UK clients will be happy to find that spread betting opportunities are supported by TIO Markets
  • I'm also pleased to see top-tier FCA regulation through the company's UK branch
  • 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
Cons
  • Most traders will be registering with the global branch, which is regulated offshore and will not offer any robust fund safeguarding measures
  • Leverage rates with the UK branch are limited to a maximum of 1:30, which may feel restricting for experienced traders
  • Compared to major competitors, TIO Markets' educational resources are notably limited
  • 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
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
Forex, CFDs, indices, shares, commodities, cryptocurrencies CFDs, Forex, Stocks, Indices, Commodities, Crypto, Bonds, ETFs, Spread Betting
Demo Account
Yes Yes
Minimum Deposit
$50 $0
Trading Platforms
  • MT4
  • MT5
  • OANDA Trade
  • MT4
  • TradingView
  • AutoChartist
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
FCA FCA, ASIC, KNF, MAS, CIRO, FFAJ, BVI
Margin Trading
No 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
No Yes
Market Maker
No Yes
P2P Trading
No No
Spot Trading
No Yes
Mobile Apps
Yes OANDA Trade, MT4
Android App Rating
3.7
iOS App Rating
4.7
Auto Trading
Yes 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
No Yes
Inactivity Fee
$10
Islamic Account
Yes No
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • CHF
  • HKD
  • SGD
Stock Exchanges
Commodities
CFD Trading
Unfortunately, I do feel that the broker's mediocre range of 300 CFDs will be quite restricting for most traders. It certainly doesn't compare to many other brands I review. Plus, the absence of crypto, ETF and soft commodity CFDs is a further setback. 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.
Leverage
1:200 1:200
FTSE Spread
20 1.0
GBPUSD Spread
0.8 1.4
Oil Spread
0.02 3.0
Stocks Spread
Variable 12 (Apple Inc)
Forex Trading
My tests uncovered an average selection of 46 forex pairs, including major, minor and exotic currency combinations. That said, access to both the MT4 and MT5 platforms is a major bonus for forex strategists looking for market-leading software. 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.
GBPUSD Spread
0.8 1.4
EURUSD Spread
0.4 0.8
EURGBP Spread
0.6 0.9
Assets
45+ 68
Cryptocurrency
Crypto trading not offered 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.
Spread
$100
Coins
  • BTC
  • ETH
  • LTC
  • BCH
  • PAXG
  • LINK
  • UNI
  • AAVE
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
More Comparisons
TIO Markets
vs
OANDA
vs