Broker to Trading

This is a comparison of Oanda Global Markets Ltd based and regulated in the British Virgin Islands vs Deriv. Deriv was founded in 1999 and provides a wide range of platforms and different types of markets to trade, including 24/7 trading. Oanda has offered trading on MT4 since 1996 when it was founded in Toronto, Canada and has a range of tools for all types of traders, including automated traders and those who execute their own trades. Oanda also provides MT5.

Deriv offers MT5 and user friendly Deriv X, and provides a range of CFD markets for these platforms, including Stocks CFDs. Deriv provides a suite of user friendly platforms for trading other markets, including Synthetic Indices. The minimum deposit for Deriv is $5, and there is no minimum deposit to fund MT5 or Deriv X.

Quick comparison

Oanda provides MT4 and MT5, suppporting a wide range of trading, while Deriv offers CFD trading on MT5 and Deriv X as well as a suite of platforms which support 24/7 trading.

Minimum deposit and account types

The minimum deposit for Deriv is $5 (there is no minimum deposit for MT5). There is no minimum deposit requirement for Oanda.

Deriv offers a range of platforms and account types packaged into one platform. It includes on DMT5 (the MT5 account) a Financial, a Financial STP and a Synthetic account. On its user friendly platform Deriv X, it offers a Financial and a Synthetic account, a well as features such as a Trading Journal. Copy trading is supported via MQL5 Signals. Some products may not be available in some countries.
Oanda offers the following trading account types: Standard, Core, Swap-free, Premium and Premium Core. The Standard is described as suitable for all traders and has no minimum deposit requirement. The Core is described as suitable for EAs and scalpers. The Swap-free account is for traders who do not want to pay or receive interest on their account. All three of these accounts offer the Signal Center by Acuity. The Premium and Premium Core accounts are for high volume traders and require the trader to maintain a $20,000 minimum balance and trade more than $10 million notional or equivalent per month. These two accounts come with an Account Manager, Zero Deposit Fees (and reimburse bank fees), Free withdrawals, Priority support and a Free VPN.
The Standard account has spreads from 1.1, the Core account has spreads from 0.2 and the Swap-free account offers spreads from 1.6 pips. The Premium account has spreads from 0.8 and the Premium Core account has spreads from 0.2. The Core and Premium Core accounts charges commissions, the Standard, Premium and Swap-free accounts do not. At Oanda Global, verification documents are not needed for gross account deposits below $9000. Tools include MarketPulse, with a range of analysis and market news, technical analysis powered by AutoChartist, an Economic Calendar and MetaTrader plug-in tools. The minimum trade size is 0.01 lots.

Markets

• Deriv offers Forex, Indices, Energy, Metals, Cryptocurrencies, Stocks, ETFs and Options, with 100+ available.
• Oanda offers Forex, Indices, Energy, Metals, Cryptocurrencies, Stocks and Soft Commodities, with 800+ available.

Cryptocurrency CFDs

• Oanda offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Binance Coin, Stellar, EOS, Dogecoin, Tezos, Uniswap, Cardano, Chainlink and Polkadot CFDs.
• Deriv offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Binance Coin, Stellar, EOS, Ripple, Monero, Zcash, IOTA, NEO, OmiseGO and TRON CFDs.

Leverage

Maximum leverage for Oanda (FSC regulated) is 200:1. Maximum leverage for Deriv is 1000:1.

Commissions

• Deriv does not charge commissions for Forex, Stocks, Indices or Metals.
• Oanda has a commission charge on its Core account of $4 per lot and $3.5 per lot on its Premium Core account.

Online trading platforms

Oanda offers MT4 and MT5. Deriv provides MT5, Deriv X and a suite of user friendly platforms.

Foundation

Oanda was originally founded in 1996, while Deriv was originally founded in 1999.

Payment methods

Both brokers support Bank Transfer, Credit/Debit Cards, Skrill and Neteller. Deriv additionally supports WebMoney and Trustly.

Why Oanda or Deriv ?

Traders who want to trade on MT4 may do so at Oanda. Traders who want to trade on MT5 (the successor to MT4) can do so at either broker. Traders who want to trade CFDs on a user friendly platform can find Deriv X at Deriv. Traders who want to trade a wider range of markets can do so at Deriv. Traders who want to acesss a wide range of tools may do so at Oanda. Traders who want to trade markets 24/7 can do this at Deriv.

Comparison summary

• Both offer CFD trading
• Oanda provides MT4 and MT5
• Deriv offers MT5 and user friendly Deriv X
• Deriv additionally provides a suite of platforms
• Oanda has a wide range of tools for MT4 and MT5
• Deriv offers 24/7 trading