Forex.com or OANDA, Which is Better?

Sarah: Sorry, but after I compare the spread, leverage and commission. I found out that Forex.com has more advantage because due to the leverage, meanwhile the other factors are same as OANDA's offer. Now, comparing the standard accounts of these two brokers, OANDA says article above that they offer variable spreads of 1.4 pips (EUR/USD) and trading fees of $50 per 10 lots, or $5 per lot. On the other hand, Forex.com has a variable spread of 1 pip and a commission of $5 per lot. So, basically the commissions actually same but the difference is in OANDA you need to reach 10 lot to getting charged, meanwhile at Forex.com, you will charge after 1 lot trading. So, in conclusion, the trading condition is same.

Winto: I disagree if you try to said Forex.com is same as OANDA. Now I will list back all your trading conditions:

Comparing the standard accounts of these two brokers, OANDA said in the article above that they offer variable spreads of 1.4 pips (EUR/USD) and trading fees of $50 per 10 lots or $5 per lot. says. On the other hand, Forex.com has a variable spread of 1 pip and a commission of $5 per lot. So basically the commissions are really the same, the difference being that OANDA charges you when you reach 10 lots, while Forex.com charges you after trading 1 lot.

Forget basic spreads. About the same between the two. The minimum trading volume can be traded from 0.01 lot. And only leverage OANDA 1:20 while Forex.com offers 1:200 (I have read more about these brokers on this website). However, even though the trade size on OANDA is 0.00001 lots, it has very little trading volume. With leverage you have 0.01 lots on Forex.com, so you open 0.001 lots.

Now that we've listed all these conditions, let's count the margins we can do. You can also check the margin required to trade positions in Forex. Access the Margin Calculator on this website or click here: forex margin calculator

this is what I found about the margin that used for 1 trading in EUR/USD currency.

OANDA only need $5.4 due to the trading size but remember, OANDA leverage only at 1:20. Meanwhile :

at Forex.com your margin that used is at $54. Remember, due to the leverage 1:200. 

Back to the minimum deposits, the Forex.com needs $250 and leverage 1:200 makes the buying power become $5,000 so you can trade for 100 times meanwhile OANDA has $1 minimum deposit, to reach 100 times of trading, with margin used $5.4, you need $500 buying power which is deposit only $25. So without profit that you can get, the beginner only need $25 to trade 100 times with size 0.001 lot at OANDA. 

Keaton: Okay , okay, You are right about the trade and margin that you count but you need to know the profit or loss that you can get. You can said that OANDA has more advantage for beginner, with the loss can minimize but the profit also minimize with these very little lot. 

As you see in the normal account which is standard account, the 1 pip value can be $10, meanwhile mini size trading (0.1 lot) means 1 pip value only $1 and so on the micro and 0.001 lot, you only get/loss $0.01 per 1 pip. If you trade with day trading that target 50 pips for one day with risk/reward ratio , you can only get profit $0.5 or you lose $0.25.

Meanwhile at Forex.com, the profit you can get at micro account is $0.1/ pips. If you trade with same conditions, you either profit $5 or loss $2.5

Okay I am not agreeing or disagreeing all of your statement but you need to know that either OANDA or Forex.com gives different vibes. OANDA with the minimum condition trading but also with very little profit, meanwhile Forex.com like usual brokers, give you some profits but the risk also higher.

And for those have very limited funds to trade, don't give up! At least read this article first to see the posibilities of trading with limited funds : Forex trading with small money

Jonathan Wilhem: OANDA really gives freedom to trader to deposit. It is allowed to trade according to the amount that we want to. So, for me it is very special because other brokers will have fixed minimum deposit that sometimes burden the beginner trader or limited-funds trader. Although the leverage is low, OANDA offer very little size trading that up to 0.0001 lot! Even if you trade with minimum lot in there, you can deposit $1 for sure to trade! So, yeah OANDA will really better choice for beginner trader.

Keaton: Thank you so much for explaining this. It's hard for new traders like me to understand about Margin and Leverage relationship. Honestly, I was confused about which broker to choose between the two. So, I think Oanda would be a good choice for beginners. But what else should I look to make sure that this broker is truly beginner friendly? Sorry if this question is not actually related to the topic. It's nice to have discussions with more professional traders.

Marvel: Actually, I also admit that the Forex.com and OANDA brokers are brokers that better customize their trading features and services for beginners. In terms of the instruments offered, Forex.com is superior to OANDA. If traders who like trading with more complete trading products, there's nothing wrong if they want to try this broker.
However, if you have never tried trading before, I suggest you learn to trade with a demo account first. The demo account itself is an account that we can use as a medium for learning. In this account, the money we use is pretend (virtual) money, not real money. To try it you don't have to have money, because you can enjoy the demo account for free and until satisfied.
I agree with your idea to try trading with a demo account before quitting it with a live account. Much of the knowledge you will gain from trading with a demo account can be applied to opening real trading positions.
I admit that OANDA has a limited choice of currency pairs compared to Forex.com, but when it comes to demo account offerings, OANDA has the upper hand. The OANDA demo account resembles the trading conditions found in the Standard Account (up to 200:1 leverage and access to all tradable instruments) and is available with a virtual balance of 100,000 USD. You can send a request to OANDA customer service to make sure your demo account will not expire.
From what I understand, you don't like brokers that offer limited demo accounts, so OANDA can be your choice. Hope it helps ya..

Marvel: Actually, I also admit that the Forex.com and OANDA brokers are brokers that better customize their trading features and services for beginners. In terms of the instruments offered, Forex.com is superior to OANDA. If traders who like trading with more complete trading products, there's nothing wrong if they want to try this broker.
However, if you have never tried trading before, I suggest you learn to trade with a demo account first. The demo account itself is an account that we can use as a medium for learning. In this account, the money we use is pretend (virtual) money, not real money. To try it you don't have to have money, because you can enjoy the demo account for free and until satisfied.
I agree with your idea to try trading with a demo account before quitting it with a live account. Much of the knowledge you will gain from trading with a demo account can be applied to opening real trading positions.
I admit that OANDA has a limited choice of currency pairs compared to Forex.com, but when it comes to demo account offerings, OANDA has the upper hand. The OANDA demo account resembles the trading conditions found in the Standard Account (up to 200:1 leverage and access to all tradable instruments) and is available with a virtual balance of 100,000 USD. You can send a request to OANDA customer service to make sure your demo account will not expire.

Sweety: I think your question is very good. I also prefer brokers who provide more complete instruments, and yes, Forex is superior in this regard. In 2011, Forex.com was the first broker to introduce the Execution Scorecard and to date remains the only US-based broker to disclose execution quality. Recent data shows that Forex.com's average execution speed is 0.04 seconds and 99.79% of trades are executed in less than 1 second. This is the fastest execution time in the Forex industry and is a real boon for scalpers and algorithmic traders.
Forex.com offers three types of accounts: the Standard Account with no commissions and wider spreads, the Commission Account which charges a commission per lot traded but has much tighter spreads and the Live Market Access Account. Both Standard Account and Commission Account are available as demo accounts, but demo accounts will expire after 30 days and you will be asked to open a live account.

Apart from Forex, Forex.com also offers trading in indices, stocks, commodities, precious metals, cryptocurrencies and oil. The available cryptocurrencies for trading are Bitcoin, Bitcoin Cash, Litecoin, Ripple, and Ethereum.
Maximum leverage varies by trading platform, market, asset class and position

size. Small trades on major currency pairs generally offer 200:1 leverage, but leverage can be increased by contacting Forex.com customer support.

Tylor: OK, I'll help explain the funding process at OANDA and Forex.com. Unlike OANDA, Forex.com only accepts deposits and withdrawals via credit/debit cards or bank transfers. Like most brokers, Forex.com operates a "back to source policy" which means that withdrawals can only be returned to the original source used for funding.

• Deposits via credit/debit cards and bank transfers are free of charge and will be processed immediately for card deposits and within 1-2 business days for bank transfers. Forex.com will convert all funds to USD upon receipt.
• Withdrawals are free of charge by Forex.com and are processed within 24 hours for card withdrawals and 48 hours for bank transfer withdrawals. The minimum withdrawal amount is 100 USD.

On the other hand, OANDA provides several quite varied methods of funding from Forex.com. Deposits and withdrawals can be made by the following methods:

• Bank Transfer: Deposit via bank transfer takes 3-5 working days and is free of charge. Bank transfer withdrawals are charged 20 USD per transaction and take 2-4 working days. It should also be noted that banks may charge a processing fee, especially in the case of international bank transfers.
• Credit/Debit Cards: Credit and debit card deposits are processed immediately and free of charge. Withdrawals to credit/debit cards take 1-3 working days and are also free of charge.
• Skrill/Neteller: Deposits with Skrill and Neteller are free and take up to 1 business day – However, Skrill/Neteller may charge a service fee. Withdrawals to Skrill and Neteller take up to 1 business day and are also free, although conversion fees may apply and Skrill/Neteller may charge additional service fees.
  For the funding process, I think OANDA is superior to Forex.com because, to be

honest, I don't like the method at Forex.com which only allows deposits and withdrawals by credit/debit card or bank transfer. for the process too, OANDA is more instant and fast.

Reynarl: Wow, you are very thorough, I haven't even thought about this. However, because of your question earlier, I immediately found out about standard accounts at brokers OANDA and Forex.com.
Forex.com
The Standard Account has a minimum deposit of 100 USD, variable spreads (as low as 0.8 pips on the EUR/USD pair, but usually around 1.3 pips) and no commissions. This account is available on Forex.com, MT4 and MT5 platforms and gives you access to over 5000 instruments including 80 currency pairs, 4 cryptocurrency pairs and hundreds of CFDs on equities, indices and commodities.
OANDA
Commission-free accounts, Standard Accounts have no minimum deposit, up to 200:1 leverage and access to all tradable instruments. The spreads offered start from 1.1 pips. the number of instruments provided by this broker is around 200 instruments.
I think the Standard Account that Forex.com provides is pretty good, with no commissions and wider spreads, the Commission Account which charges a commission per lot traded but has much tighter spreads and the Direct Market Access Account. On the other hand, the Standard Account at OANDA has no minimum deposit and trading is commission-free.

For this reason, I think OANDA is superior in terms of cost, yes, compared to FORex.com. But back to your needs. If you like trading with a more varied instrument, the forex.com standard account can be your consideration.

Werner: In my view, I agree with you that Forex.com can be a good option for trading even though scalping is not allowed. There are other trading styles available such as day trading, swing trading, and long-term trading that can still be profitable. As for me, I prefer day trading with Forex.com as the profits can be realized faster within a day. Compared to other brokers around the world, the trading terms offered by Forex.com are quite similar with commission/lot, higher leverage, and a minimum deposit of $100. Experienced traders may not need to learn new trading terms like OANDA's "strange" conditions when using Forex.com. 

@Henderson: let me break it down for you. The bodies that regulate Forex.com and OANDA are no joke. They're tough as nails and have some of the strictest requirements in the world. We're talking about the CFTC and NFA here, which are the big ones in the financial industry.

Now, why are brokers that are regulated by the CFTC and NFA considered safer? It's pretty simple, really. These regulators enforce some serious standards and guidelines, and they don't mess around when it comes to shady business practices. Brokers that don't play by the rules can get in some major trouble, so it's in their best interest to keep their noses clean.

When it comes to trading terms, you'll find that brokers regulated by the CFTC and NFA have to follow some strict guidelines. That means you might have to deposit more money upfront, get less leverage, and say goodbye to those flashy trading bonuses. But it's all worth it for the peace of mind that comes with knowing you're dealing with a broker that's legit and not trying to pull a fast one on you.

@Enzo Galtier: Regulation is a big deal in the forex world, my friend. It's all about building trust and ensuring that traders feel secure in their dealings. When a broker is regulated, it means they're being closely watched over by a financial authority. And that's a good thing!

Regulation brings some sweet benefits to the table. First off, it's all about protecting investors. Regulators set rules to make sure client funds are safe and separate from the broker's own funds. So even if the broker faces financial trouble, your hard-earned money is protected. That's peace of mind right there!

Transparency is another key perk. Regulated brokers have to be upfront and honest about pricing, execution, and all that important stuff. It helps you make informed decisions and builds trust between you and the broker.

Ethics also come into play. Regulated brokers have to play by the rules and treat their clients fairly. They steer clear of any dodgy business and operate with integrity. It's all about maintaining a professional and trustworthy environment.

Now, when it comes to Forex.com, they not only have registration with the CFTC and NFA for serving US clients, but they've also snagged licenses from other regulatory bodies. These include the FCA in the UK, ASIC in Australia, and IIROC in Canada. These licenses show that Forex.com is playing the game by international standards and that they're legit.

So, my friend, keep regulation in mind when choosing a broker. It's all about protection, transparency, and ethical standards. And with Forex.com's multiple licenses, you can feel more at ease knowing they're meeting those international standards.

When it comes to the safety comparison between Forexcom and OANDA, both seem rock-solid based on key factors like legal background, trading platform, fees, tradable instruments, deposits, and overall service quality. Now, onto the longevity factor – how long these brokers have been in the biz. Does it matter? Well, yeah, it could be a game-changer. More years in the game might mean they've weathered market storms and have a solid foundation. It's like having a reliable teammate with experience.

However, it's not the only thing to look at. It's crucial, but it's just one piece of the puzzle. So, considering the years in operation is important, but it's all about balancing that with the other aspects to get the full picture. I suggest you check both review that user gave to those brokers in here:

• Forex.com review
• OANDA review

Hey there!  In general, when a brokerage mentions a variable spread starting from 1 pip, it means that 1 pip is the narrowest spread available under normal market conditions. The minimum and maximum values of the spread can fluctuate based on market volatility, liquidity, and other factors.

The minimum spread of 1 pip typically refers to the tightest possible spread you might encounter during optimal market conditions. The maximum spread, on the other hand, represents the widest potential spread that could occur, especially during periods of high volatility or market turbulence. About the floating or variable spread characteristic, you can learn about it in here : Fixed Spread Vs Floating Spread, What are the Differences?

It's highly unlikely. Even though OANDA doesn't lay down a specific minimum deposit, trading with just a single dollar doesn't seem workable in the real trading world. 

Think about it: there are costs involved in executing trades, like spreads and commissions. These expenses could easily eat up a tiny investment like $1. Plus, managing trades effectively with such a small amount could be a real challenge. 

In practical terms, most traders allocate more significant sums to trading to have a better chance at meaningful returns and to handle potential risks. So while OANDA's flexibility is great, trading with just $1 might not be in the cards.