| Online Broker | Minimum Deposit | Trading Platforms | Markets | About |
|---|---|---|---|---|
| Oanda | None Minimum Deposit | MT4, MT5, fxTrade Trading Platforms | 800+ Markets To Trade | Oanda is a long established broker offering MT4 and MT5 with a wide range of tools for these platforms About |
| FXOpen | $1 Minimum Deposit | MT4, MT5, TickTrader Trading Platforms | 600+ Markets To Trade | FXOpen allows a wide range of trading styles and offers a Micro account with very low trade sizes and a $1 minimum deposit About |
Oanda vs FXOpen Comparison
This is a comparison of Oanda Global Markets Ltd based and regulated in the British Virgin Islands vs FXOpen based in Nevis. Oanda is long established (since 1996), offers MT4 and MT5 and supports a wide range of trading styles and offers a wide range of tools. FXOpen provides ECN accounts and a Cent account (which has a very low minimum deposit and is called a Micro account) and allows funding via Cryptos.
Quick comparison
Both brokers offer MT4 and MT5, while FXOpen additionally provides TickTrader and has a Cent account.
Minimum deposit and account features
There is no minimum deposit requirement for Oanda. The minimum depoit for FXOpen is $1.
- FXOpen offers ECN, STP, Micro and Crypto account types. The minimum deposit is $1 for the Micro account, $10 for the STP and Crypto accounts and $100 for the ECN account. The ECN account charges commissions on its markets, the STP does not charge commissions. The Crypto account is an STP account which additionally offers a range of Cryptocurrencies (which have a commission charge). FXOpen supports social and copy trading via ZuluTrade and Myfxbook. The minimum trade size is 0.0001 lots on the Micro account. Market news and analysis are available via RSS and an economic calendar is provided on FXOpen's website.
- 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
- Oanda offers Forex, Indices, Energy, Metals, Stocks, Cryptocurrencies and Soft Commodities, with 800+ available.
- FXOpen offers Forex, Indices, Energy, Metals, Stocks and Cryptocurrencies, with 600+ available.
Cryptocurrency CFDs
- Oanda offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dogecoin, Binance Coin, Tezos, Uniswap, Cardano, Stellar, Chainlink, Polkadot and EOS CFDs.
- FXOpen offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, DASH, Monero, IOTA, NEO, OMNI, EOS, Ethereum Classic, Namecoin, Peercoin and Emercoin CFDs.
| Broker | Trading Platforms | Description |
|---|---|---|
| Oanda Global Broker | MT4, MT5, fxTrade Trading Platforms | Oanda is a long established MetaTrader broker and allows traders to deposit up to $9,000 without verification Description |
| FXOpen Broker | MT4, MT5, TickTrader Trading Platforms | FXOpen offers a Cent account, ECN accounts and allows account funding in Cryptos and has a minimum deposit of $1 Description |
Leverage
Maximum leverage for Oanda (FSC regulated) is 200:1. Maximum leverage for FXOpen is 500:1.
Commissions
- Oanda has a commission charge on its Core account of $4 per lot and $3.5 per lot on the Premium Core account.
- For Forex, FXOpen charges a commission, which depends on volume traded, from $1.5 - $5 per standard lot per side. Other instruments have differing commission charges.
Online trading platforms
Oanda offers MT4 and MT5. FXOpen offers MT4, MT5 and TickTrader.
Payment methods
Both brokers support Bank Transfer and Credit/Debit Cards. Oanda additionally supports Skrill and Neteller. FXOpen additionally supports Paypaid, Epay, Airtm, WebMoney, FasaPay, cashU, Advcash, Bitcoin, Ethreum, Litecoin, Bitcoin Cash, Tether and Emercoin.
Why Oanda or FXOpen ?
Traders who want to trade on MT4 or MT5 can try either broker. Traders who want to trade on a user friendly platform can try TickTrader at FXOpen. Trader who want to trade on a Cent account with a very low minimum deposit and trade size may do so at FXOpen. Trader who want to deposit in Cryptos can do this at FXOpen. Traders who want to deposit up to $9,000 without needing verification documents, may do so at Oanda Global.
Comparison summary
- Both provide CFD trading
- Each offers MT4 and MT5
- FXOpen additionally provides TickTrader
- FXOpen allows account funding via Cryptos
- Oanda Global lets traders deposit up to $9,000 without verification
