Moreover,monthly traffic figures suggest that OANDA remains a slightly more popularbrand than FTMO, by a margin of roughly 30% in favor of the broker. Rates, terms, products and services on third-party websites are subject to change without notice. We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews. The posted support hours for phone and live chat are Sunday at 1pm to Friday at 6pm, which is a wider support window than what worldtradex offers. One year after worldtradex began its long descent into scandal, Oanda released what is still a seminal manifesto in the forex marketplace, the Forex Trader’s Bill of Rights.
Customer Support
However, the company now provides clients with access to a wide range of asset classes across many financial markets, including currencies, commodities, and energy. There are several helpful tutorials and committed support staff available for newcomers. Mobile trading, order execution with a single click, and trading based on real-time charts are some of the benefits available to customers. worldtradex also provides instructional seminars on foreign exchange trading, in addition to trading tools, exclusive data, and premium resources. In terms of overall pricing, OANDA appears to be slightly more cost-effective for those who qualify for the Core Pricing account, especially if they trade large volumes.
General Comparison and Overview ⚖
- Online brokers generally offer users the option not only to trade on their native platforms but also outside systems.
- OANDA didn’t fare as well, with an average of 1.54 pips or a cost $14.23 per lot.
- Through a partnership with Jefferies Group, worldtradex offers a professional trading service for financial institutions and sophisticated traders.
- In the forex industry, market makers often have a bad reputation because some brokers display worse bid/ask prices than ECN brokers.
- The company released up-to-date online information about exchange rates…absolutely free.
- In worldtradex’s app store, you can access various types of technical indicators, add-ons, and automated trading strategies (trading bots).
However, this did not provide sufficient momentum for further growth, especially since XTB had become the dominant player in the local market. When it comes to regulation, both Oanda and worldtradex prioritize compliance and operate under the oversight of reputable authorities. worldtradex, on the other hand, holds three licenses, being authorized by the FCA, ASIC, and FSCA (Financial Sector Conduct Authority) in South Africa. These regulatory bodies enforce strict guidelines to ensure fair trading practices and client fund protection. Oanda offers a live chat virtual assistant that is available 24 hours a day five days a week.
Forex Brokers Gain Automation with SkaleCRM-Match-Trader Integration
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.
Which broker offers the superior trading platform?
StockHax strives to provide unbiased and reliable information on cryptocurrency, finance, trading, and stocks. However, we cannot provide financial advice and urge users to do their own research and due diligence. worldtradex user complaints largely have to do with funds taking too long to settle in their respective accounts.
- Both brokers typically do not charge fees for deposits or withdrawals, except for certain instances such as withdrawal fees charged by Interactive Brokers.
- This account has tiered commissions and is best for high-volume traders.
- The broker is known for its competitive pricing and range of platforms suited for traders with varying needs and trading styles.
- All of this comes down to the fact that you will always be able to receive the quickest possible execution of your transactions at the most favorable rates.
- This broker’s inactivity fee similarly kicks in if there’s no trading activity over a 12-month period.
- 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.
As traders, we desire as many base currencies as possible and a sufficient range of leverage. Both are closely matched, but we chose worldtradex as our favoured broker in the Trading Experience category, so we gave them a score of 7 and OANDA a 6. Also satisfactory was worldtradexs web trading platform; we appreciated that it is highly customisable and user-friendly. The platform offered us a wide range of order types and features a great search function. However, it lacks two-step authentication, which is an essential security feature. The CompareForexBrokers team wanted to see how the two brokers compared when it came to spread costs, so we went and tested.
Customers can see this price on the many trading platforms available to them. worldtradex is ideal for traders who prioritize low https://worldtradex.pro/ spreads, advanced tools like TradingView, and social trading via ZuluTrade. Oanda is a great option for traders who value wide asset variety, superior market research, and MT5 support. The trading platform is essential as you can’t execute a trade without it. Additionally, trading platforms provide price charts and an assortment of analytical tools to help traders with their strategies. Yes, worldtradex and Oanda both offer beginner traders education, research, and quality trading tools.