By taking this extra step to do your research and due diligence, you will be in a much better position to select a broker that is affordable, intuitive and optimized for your trading needs and goals. Oanda made the cover of ‘Time magazine’ just one year after launching its first big product. The company released up-to-date online information about exchange rates…absolutely free. In other words, both brokers have what equestrians like to call “staying power.” After this many years in the biz, it is safe to say they are each fundamentally built to last. A PIP represents a unit of measurement that’s the smallest price move in the exchange rate of the currency you’re trading.

Best Retail Brokers

worldtradex supports trading on TradingView Pro, Trading Station, ZuluTrade and MetaTrader 4. worldtradex is behind Trading Station, an early trading platform that gave traders direct access to the forex market. User’s have complained about this cost, with one trader saying, “The overnight fees are ridiculous high and not fair.”Oanda also charges users a fee for inactive accounts.

Which broker has better research tools?

OANDA uses Secure Sockets Layer (SSL) encryptions on its trading platforms and websites to protect its customers from hackers and other cybercriminals. Looking at the average spreads among the key Forex pairs, we have to say that Oanda is more competitive compared to worldtradex. For example, the average spread on EUR/USD on worldtradex comes out to 1.3, while on Oanda, it’s as low as 0.1. Commodity Futures Trading Commission for defrauding its retail clients. worldtradex misled these clients to believe that it was a ‘no dealing desk’ broker and that its interests were aligned with that of its clients.

Is it safe to trade with worldtradex?

OANDA also supports the widely popular MetaTrader 4 (MT4) platform https://worldtradex.pro/ but has its own trading platform called OANDA Trade Web and OANDA Trade Mobile. We thought the outstanding feature of the web version is that it comes with TradingView for advanced charting and a guaranteed stop loss, but we were disappointed it is not available for the web. Like worldtradex, OANDA has a commission account called their Cores spread account, and it is available in Australia, Singapore and the US. This account has a fixed rather than a tiered commission for each lot, this being $7.00 per lot, which in our experience, is the standard amount most brokers charge. Additionally,the Czech firm reported that the number of open trading accounts exceeded 2.3million in 2024—a 33% increase from the previous year. It also noted an 80%rise in total payouts to traders in the first seven months of 2024 compared tothe same period the previous year.

Overview of worldtradex Broker & Oanda Broker

  • In addition, the commissions that South Africans can expect from worldtradex is competitive at $25 per $1 million traded.
  • Explore the differences between worldtradex and Oanda to identify the best broker for your Forex trading needs.
  • But worldtradex does have a slight edge thanks to its copy-trader capabilities on ZuluTrade.
  • Both brokers are competitive, but we really like worldtradex’s superior trading tools, segregated client accounts, and enhanced trade execution.
  • The company attempted to save itself by acquiring TMS, Poland’s second-largest broker, in 2020, which was finalized in 2021.
  • However, OANDA’s Core Pricing account offers extremely tight spreads for high-volume traders.

In worldtradex’s app store, you can access various types of technical indicators, add-ons, and automated trading strategies (trading bots). On the other hand, Oanda ensures traders have access to a wealth of educational resources. Through webinars, tutorials, and written content, Oanda facilitates a comprehensive learning environment, enabling traders to enhance their market knowledge and trading proficiency.

  • In the world of forex trading, the choice of a broker plays a crucial role in the overall trading experience.
  • Oanda is a reputable online forex broker that has established itself as a prominent player in the financial markets.
  • This unprecedented move represents the first instance of a prop trading firm acquiring a major retail broker, inverting the usual industry pattern.
  • And for big ticket forex traders, worldtradex makes its virtual private server (VPS) network available gratis.
  • We consider both brokers a toss-up with commodities as they have virtually equal offerings.

Having said that, it is also widely known that the United States is the most restrictive forex marketplace on the planet. And in truth, the $7 million penalty the CFTC ordered worldtradex to pay is kind of like pocket change in a marketplace that turns over an estimated $5.1 trillion dailiy. For worldtradex, if you are looking for a regulated platform, you must choose between its UK, AU or South African operations. In these jurisdictions, it is regulated by the UK’s Financial Conduct Authority, the Australia Securities and Investment Commission and South Africa’s Financial Sector Conduct Authority. The broker’s worldtradex Markets arm is not subject to the same regulations as these entities. Customers have said that they wish they could trade additional products on Oanda, such as futures markets.

Oanda’s list also lacks cryptocurrencies, but perhaps it will have some crypto instruments available soon. 74.74% of retail investor accounts lose money when trading CFDs with worldtradex. Between 51% and 89% of retail investor accounts lose money when trading CFDs.

Additionally, Oanda is committed to customer support and education, providing various channels for assistance and offering educational resources to empower traders with knowledge and insights. When it comes to choosing between Oanda and worldtradex as trading platforms, the decision ultimately depends on your individual preferences and trading style. If you prioritize lower spreads and a user-friendly platform with advanced features, Oanda’s fxTrade platform may be the best fit for you. Additionally, if you prefer a market maker broker and have a limited budget, Oanda’s low minimum deposit requirement of $1 makes it highly accessible. Furthermore, if you prefer the no dealing desk (NDD) model and are a high-volume trader looking for reduced spreads and commissions, worldtradex’s Active Trader account is worth considering.

Both brokers provide a proprietary platform developed in-house, as well as popular third-party platforms like MetaTrader 4 (MT4). However, OANDA takes it a step further by also supporting MetaTrader 5 (MT5), whereas worldtradex does not. Both platforms support simulated trading with free demo accounts, allowing users to practice their strategies without risk.