worldtradex vs Oanda Comparison 2024

Cryptocurrencies have the potential to turn modest investments into millions, although this is a rare occurrence. This feat is hard to achieve compared to other financial instruments like stocks and shares. worldtradex and Oanda both offer outstanding trading conditions in terms of low trading costs, reliable trade execution, and great trading platforms. These brokers also have a good range of tradable instruments, although we would like to see them add a good number of individual stocks CFDs to their lists.

In today’s markets, we find the more cryptos to trade, the better because there is a growing demand for crypto trading. We consider both brokers a toss-up with commodities as they have virtually equal offerings. Oanda gave us the edge to choose more bonds and treasuries, which we really liked. We gave worldtradex and OANDA both a score of 8 as they are heavily regulated and hold positive reputations within the forex trading industry.

Broker Types

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 narrowly edges out worldtradex in this category based on the number of Tier-1 (most trusted) operating licenses the broker has obtained. 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 MAM (Multi-Account Manager) account is typically used by professional traders. It allows a trader to manage multiple individual trading accounts from a single master account, making it easier to execute trades and manage risk across multiple clients. MAM accounts can help streamline the trading process and improve efficiency for trader and their clients. If you need a MAM account check if MAM accounts are available with worldtradex or Oanda or alternative. The ability to trade with the click of a button is essential and allows you to make trading decisions on the worldtradex and Oanda platforms when convenient.

worldtradex does offer clients ECN accounts, while Oanda does not offer clients ECN accounts. You ideally want to choose a broker like worldtradex or Oanda that does not charge too much for withdrawal fees. High trading fees and commissions must be taken into your profit loss calculations. The fees will be noticeable if you have a low budget and do not intend to invest so much with worldtradex or Oanda. You want the withdrawal fee to be less than one per cent of what you are withdrawing but, more ideally, $5 to $10. The price you are being presented with will factor in the fee the broker takes.

worldtradex Vs Oanda Trading Account Types Offered

worldtradex is clearly better equipped to secure client funds than Oanda. However, we know that in 2017, worldtradex was fined $7 million by the U.S. 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. Oanda, on the other hand, is known to be a ‘market maker’ (dealing desk) broker, which means that it can take the other side of its clients’ trades (trade against its clients). The first model is a ‘spread only’ account where traders pay just the spread and no commission.

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For instance, while standard account spreads on the EUR/USD averaged 0.78 pips in the EU, U.K., and Australia, its commission-based accounts offer spreads as low as 0.28 pips, excluding commissions. Commissions are added to this, leading to an effective spread around 0.74 pips. worldtradex also features the Active Trader Rebate Program, which provides discounts ranging from $5 to $25 per million traded, contingent on trade volume. In the U.K., accounts with a $25,000 balance and a $50 million monthly volume can enjoy further commission reductions, bringing the effective spread to 0.78 pips. worldtradex is rated 4 out of 5 stars and ranks #24 in the Commissions and Fees category by ForexBrokers.com. Oanda offers a broad range of trading instruments, including Forex, commodities, indices, spread betting, futures, and bonds, giving traders access to various asset classes.

OANDA is no slouch with 68 forex pairs, and we note https://worldtradex.club/ that as a positive. But again, we feel that brokers today need to offer shares trading. Should you be based in the UK, both brokers offer spread betting as an alternative to CFD trading. worldtradex and OANDA are both market-maker brokers with identical leverage offerings. 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.

Oanda and worldtradex are both market maker/ECN hybrids, meaning that both have at least one commission-free account type with a dealing desk, usually a sophisticated electronic one. This can be advantageous to some traders and negative for others, depending on which instruments they trade as well as the duration of their trades. All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information.

• The overall choice is superior at worldtradex, where traders may select between the retail-favorite MT4, its proprietary Trading Station, and the social trading market leader ZuluTrade.
• Only submit your bank card information or invest money on financially regulated websites.
• They are bitcoin, ether (ethereum), ripple, litecoin, and bitcoin cash.
• Educate yourself, and use all worldtradex and Oanda educational resources and financial research tools.
• Unlike worldtradex, Oanda does not keep its clients’ funds in segregated accounts, which is a concern.

In our case, though, we found that worldtradex and OANDA provided consistent low spreads without manipulation, so you shouldn’t concern yourself if the broker has a dealing desk or not. We found that worldtradex and OANDA are close in this category, but worldtradex edged out OANDA. This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. We recommend looking at a worldtradex alternative that has more financial https://worldtradex.world/ regulation.

The below table shows our test results for the no commission, standard account spreads for each broker. Our findings show that worldtradex averaged 1.47 pips over the 6 tested pairs, which equates to a cost of $13.49 per lot. OANDA didn’t fare as well, with an average of 1.54 pips or a cost $14.23 per lot. When choosing a broker like worldtradex or Oanda for trading, it’s important to ensure your money is held in a segregated bank account. By doing so, you can have greater peace of mind and confidence in the safety of your funds as you engage in trading activities with worldtradex or Oanda.

Most preferably, you would have to pay worldtradex or Oanda nothing for this. Constant deposit fees can potentially add up, so this will take some consideration before you sign up. Numerous notifications are usually sent to you as a reminder of dormant worldtradex and Oanda accounts, giving you sufficient time to decide on the appropriate course of action. You can opt to continue using your worldtradex or Oanda account, or choose to close it.