Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

AvaTrade
9.7 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT AVATRADE
Oanda
9.3 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT OANDA
Pepperstone
9.3 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT PEPPERSTONE
About

AvaTrade is regulated by the Central Bank of Ireland, ASIC (Australia), FSA (Japan), FSB (South Africa) and BVI. AvaTrade have provided Forex trading services since 2006.

Oanda is regulated by the Financial Conduct Authority, ASIC, NFA, IIROC and MAS. Oanda have provided Forex trading services since 2011.

Pepperstone is regulated by ASIC. Pepperstone have provided Forex trading services since 2010.

Why choose them?
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Central Bank of Ireland, ASIC, FSA, FSB and BVI
  • Yes Over 22 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority and ASIC
  • Yes Over 8 years in business
  • Yes Segregates clients funds
  • Yes Regulated by ASIC
Headquarters Dublin, Ireland London, UK Melbourne, Australia

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes Yes Yes
CFD Yes Yes Yes
Spread Betting Yes No No
Social Trading Yes No Yes
MARKETS & INSTRUMENTS
Forex (currency pairs) 59 71 61
Commodities Offered 16 12 12
Stocks Offered 99 0 60
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes No Yes
Penny stocks No No No
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes Yes Yes
FTSE Yes Yes No
Dow Jones Yes Yes No
Dax Yes No Yes
Nikkei Yes No No
ETFs Yes No No
IPO Yes No No
See all instruments

71% of retail investor accounts lose money when trading CFDs with this provider.

See all instruments

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

See all instruments

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 Yes No Yes
MT4 Mac Yes No Yes
WebTrader Yes Yes Yes
Mirror Trader Yes No No
ZuluTrade Yes No Yes
Sirix No No No
cTrader No No Yes
PAMM No No No
Custom Platforms AvaTradeAct, AVAOptions OANDA APINo No

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image No Yes No
Available Languages

English, Italian, German, French, Greek, Hebrew, Spanish, Arabic, Malay, Russian, Chinese, Portuguese and Dutch

English, Chinese, French, German, Japanese, Korean, Russian, and Spanish

English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic

See platform & features

71% of retail investor accounts lose money when trading CFDs with this provider.

See platform & features

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

See platform & features

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by AvaTrade and Oanda

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account Yes No No
Standard account Yes Yes Yes
ECN Account No No No
Islamic account Yes No Yes
Zero spread account No No No
VIP account Yes Yes No
Fixed spreads Yes No No
Variable spreads Yes Yes Yes
See account options

71% of retail investor accounts lose money when trading CFDs with this provider.

See account options

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

See account options

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server No Yes Yes
Direct market access Yes Yes Yes
STP broker No No Yes
Market maker Yes No Yes
Min trade 0.01 Lot Varies 0.01 Lot
Max trade None Varies None
Min deposit $250 $1 $200

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts Yes Yes Yes
Signal trading Yes No Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal Yes Yes Yes
Neteller Yes No Yes
Skrill Yes No Yes
Payment processing time Varies 1-2 business days Varies
Withdrawal processing time Varies 1-2 business days Varies
See all funding options

71% of retail investor accounts lose money when trading CFDs with this provider.

See all funding options

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

See all funding options

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

DETAILED INFO

Excluded countries US, FR, IR, CU, KP, DZ, SY, MY, VN, SG, AU, PH, CA US, FR, IR, CU, KP, DZ, SY, MY, VN, SG, AU, PH, CA KR, IR, IQ, SY, JP, US
Contact email Send Email Send Email Send Email
Phone number (44) (0) 8005200423 44 20 3151 2050 61 3 9020 0155
Live Chat Yes Yes Yes
Website http://www.avatrade.com/ www.oanda.co.uk https://pepperstone.com/
Spreads:
EUR/USD (Average: 0.7 pips) 1.3 pips 1.1 pips + $0.00 0.16 pips + $5.00
GBP/USD (Average: 1.1 pips) 2.0 pips 1.7 pips + $0.00 0.49 pips + $5.00
USD/JPY (Average: 1.1 pips) 1.5 pips 1.2 pips + $0.00 0.25 pips + $5.00
AUD/USD (Average: 0.8 pips) 1.8 pips 1.2 pips + $0.00 0.27 pips + $5.00
USD/CHF (Average: 2.3 pips) 2.0 pips 1.6 pips + $0.00 0.64 pips + $5.00
USD/CAD (Average: 2.9 pips) 2.5 pips 1.6 pips + $0.00 0.47 pips + $5.00
NZD/USD (Average: 3.6 pips) 2.8 pips 1.6 pips + $0.00 1.1 pips + $5.00
EUR/GBP (Average: 2.4 pips) 2.0 pips 1.4 pips + $0.00 1.0 pips + $5.00
View all spreads

71% of retail investor accounts lose money when trading CFDs with this provider.

View all spreads

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

View all spreads

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

FEES

Inactivity Fee No No No
Commission No No Yes
Deposit Fee No No No
Withdrawal Fee No Varies No
View All Fees

71% of retail investor accounts lose money when trading CFDs with this provider.

View All Fees

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

View All Fees

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

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Last update

All information collected from http://www.avatrade.com/. Last updated on 01/10/2019.

All information collected from www.oanda.co.uk. Last updated on 01/10/2019.

All information collected from https://pepperstone.com/. Last updated on 01/10/2019.

Company

Since 2006, Avatrade have attracted over 20,000 traders to their platform. While their spreads are not the most competitive, they do offer traders a range of great features, such as guaranteed stop losses, the ability to hedge / scalp, and low margins.

For more information about trading with AvaTrade, we have put together an indepth AvaTrade review with the pros and cons about this broker.

Oanda services over 75,000 clients clients around the world. The most notable aspect about Oanda is their fxTrade platform, which is regarded as one of the fastest platforms in the industry. Oanda is regulated in five different regional areas, making them a great choice for those looking to access global markets.

Pepperstone provide a trading platform for retail and institutional investors looking for a broker that provides fast execution, reliable technology, award winning customer service all at superior competitive pricing.

Pepperstone was founded in 2010 to provide a solution to traders frustrated by slow trade execution, excessive spread and poor customer service from other online brokers. Pepperstone are a perfect choice for traders with spreads start from as low as 0 pips and combined with their use of leading technology platforms including MetaTrader 4 and cTrader.

For more information about trading with Pepperstone, we have put together an indepth Pepperstone review with all the pros and cons about this broker.

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AvaTrade or Oanda?

A wide range of instruments or well established?

If you’re a trader looking for a broker that offers a wide variety of instruments to trade, AvaTrade is likely the better option out of these brokers. However, if you want a broker that has been established for a long time, Oanda may be a more appropriate option.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider AvaTrade to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

AvaTrade is regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI, while Oanda is regulated by Financial Conduct Authority and ASIC.

As the Financial Conduct Authority are one of the most stringent regulators in the world, Oanda will have very strict guidelines to follow to ensure they protect their retail trader clients.

Pepperstone are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

AvaTrade has been around for 13 years, while Oanda have been around for 23 years. Our third alternative broker, Pepperstone, have been around for 9 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both AvaTrade and Oanda use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on AvaTrade or Oanda in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

According to their websites, AvaTrade is more popular with over 200,000 traders, while Oanda is used by 23,000 traders. Pepperstone, in comparison, is used by 0.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both AvaTrade and Oanda are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

AvaTrade are based in Dublin, Ireland, while Oanda are based in London, UK .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both AvaTrade and Oanda offer forex trading. Oanda have a slightly larger variety of currency pairs with 71 pairs, compared to 59 offered by AvaTrade. Also, if you’re looking to trade cryptocurrencies, AvaTrade offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

Both AvaTrade and Oanda allow you to trade commodities like gold, silver and crude oil.

AvaTrade also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both AvaTrade and Oanda offer this. AvaTrade also offer the new & improved MT5 platform. Our alternative broker, Pepperstone, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. AvaTrade, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

AvaTrade does allow scalping and hedging. While Oanda also allows scalping and hedging. You can trade with EAs (expert advisors) on both AvaTrade and Oanda.

In terms of risk management tools, neither AvaTrade or Oanda offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

AvaTrade also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

AvaTrade accept Paypal while Oanda accept Paypal.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, AvaTrade charges 0.70 points, while Oanda charges 1.20 points. Therefore, AvaTrade is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: AvaTrade or Oanda?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, AvaTrade is more reliable based on our criteria above. AvaTrade has a wider range of instruments to trade. Oanda offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.