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OANDA vs GKFX 2022

BrokerNotes.co

Written by BrokerNotes.co

Last updated August 30, 2022
Published April 26, 2022

Trying to decide between OANDA and GKFX? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, OANDA ranks more highly than GKFX.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall Rating expand_moreexpand_less OANDA GKFX FOREX.com
Overall Rating 8 / 10 7 / 10 8.7 / 10
Account Type expand_moreexpand_less OANDA GKFX FOREX.com
Standard Account Yes Yes Yes
Mini Account Yes Yes Yes
Micro Account Yes Yes Yes
Islamic Account Yes Yes Yes
Copy Trading expand_moreexpand_less OANDA GKFX FOREX.com
Social Trading / Copy Trading Yes Yes No
DupliTrade No No No
ZuluTrade Yes No No
Cryptocurrency expand_moreexpand_less OANDA GKFX FOREX.com
Cryptocurrency (Physical) No No No
Cryptocurrency (CFD) Yes Yes Yes
Bitcoin Yes Yes Yes
ethereum Yes Yes Yes
Forex Trading (Spot or CFDs) expand_moreexpand_less OANDA GKFX FOREX.com
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Indices (Index CFDs) expand_moreexpand_less OANDA GKFX FOREX.com
DAX Yes Yes Yes
Dow Jones Yes Yes Yes
FTSE Yes Yes Yes
NASDAQ 100 Yes Yes Yes
Nikkei Yes Yes Yes
SP 500 Yes Yes Yes
Investments expand_moreexpand_less OANDA GKFX FOREX.com
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Spread Betting Yes No No
Social Trading / Copy Trading Yes Yes No
Metals Yes Yes Yes
Energies Yes Yes Yes
Agriculturals Yes No Yes
ETF No No Yes
U.S. Stocks (CFD) No Yes Yes
Trading Platforms expand_moreexpand_less OANDA GKFX FOREX.com
Apple iOS App Yes Yes Yes
Android App Yes Yes Yes
Proprietary Platform Yes No Yes
Desktop Platform (Windows) Yes Yes Yes
Web Platform Yes Yes Yes
MetaTrader 4 (MT4) Yes Yes Yes
MetaTrader 5 (MT5) Yes Yes Yes
Regulatory Licenses expand_moreexpand_less OANDA GKFX FOREX.com
Tier-1 Licenses 6 0 4
ASIC Authorised (Australia) Yes No No
IIROC Authorised (Canada) Yes No Yes
FCA Authorised (U.K.) Yes No Yes
SFC Authorised (Hong Kong) No No No
MAS Authorised (Singapore) Yes No No
FINMA Authorised (Switzerland) No No No
CFTC Registered (USA) Yes No Yes
Tier-2 Licenses 0 1 2
Tier-3 Licenses 1 0 1
Research, Education expand_moreexpand_less OANDA GKFX FOREX.com
Trading Central (Recognia) No Yes Yes
Forex News (Top-Tier Sources) Yes No Yes
Daily Market Commentary Yes Yes Yes
Autochartist Yes Yes No
Investor Dictionary (Glossary) Yes Yes Yes
Videos - Beginner Trading Videos Yes Yes Yes
Client Webinars (Archived) Yes Yes No
Trading Costs expand_moreexpand_less OANDA GKFX FOREX.com
Minimum Initial Deposit $0 $0 $100
Average Spread EUR/USD - Standard 1.26 (5/22-5/27/22) N/A 1.1 (US August 2021)
All-in Cost EUR/USD - Active 1.26 (5/22-5/27/22) N/A 1.1 (US August 2021)
Active Trader or VIP Discounts Yes No Yes
Bank Wire (Deposit/Withdraw) Yes Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes Yes
PayPal (Deposit/Withdraw) Yes No Yes
Trading Tools expand_moreexpand_less OANDA GKFX FOREX.com
Watchlists - Total Fields 6 7 18
Mobile Watchlist Yes Yes Yes
Charting - Indicators / Studies (Total) 81 30 139
Mobile Charting - Indicators / Studies 33 30 88
Trust Factors expand_moreexpand_less OANDA GKFX FOREX.com
Year Founded 1996 2013 1999
Publicly Traded (Listed) No No Yes
Bank No No No
Authorised in European Union Yes Yes Yes
Trust Score 92 66 99
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OANDA vs GKFX Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare OANDA vs GKFX.

Can I trust OANDA?

OANDA has a trust score of 92, giving it a "Highly Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.

Can I trust GKFX?

GKFX has a trust score of 66, giving it a "High Risk" trust label.

Is OANDA a good broker?

OANDA is a long-standing broker that is highly regulated and trusted across the world by forex and CFD traders. OANDA has strong market research, and offers connectivity to numerous platforms and third-party plugins (including integrated charts from TradingView). The only downside with using OANDA is its comparatively small range of markets and industry-average spreads.

Is GKFX a good broker?

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. OANDA is ASIC Authorised (Australia), IIROC Authorised (Canada), FSA Authorised (Japan), MAS Authorised (Singapore), FCA Authorised (U.K.) and CFTC Registered (USA), while GKFX is none., neither have SFC Authorised (Hong Kong), CBI Authorised (Ireland), FMA Authorised (New Zealand) and FINMA Authorised (Switzerland)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, unfortunately, neither OANDA nor GKFX are CBRC Authorised (China), CySEC Authorised (Cyprus), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE)., neither have DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses OANDA is FSC Authorised (British Virgin Islands), while GKFX is none., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

For trading platforms OANDA supports a Proprietary Platform, Desktop Platform (Windows) and ZuluTrade, whereas GKFX supports a Desktop Platform (Windows)., neither have cTrader and DupliTrade

Does OANDA offer MetaTrader? Does GKFX offer MetaTrader?

Both OANDA and GKFX offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.

How do OANDA and GKFX differ in terms of minimum deposit? What about average spreads and funding options?

OANDA requires a minimum deposit of $0, while GKFX requires a minimum deposit of $0. From our testing we found OANDA offers spreads of 1.26 (5/22-5/27/22), while GKFX offers spreads of N/A. OANDA supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for popular funding options, where GKFX supports Bank Wire (Deposit/Withdraw) and Visa/Mastercard (Credit/Debit).

Which brokers offers more tradeable asset classes, OANDA or GKFX?

OANDA offers a more diverse selection of investment options than GKFX allowing you to trade Forex Trading, Trading - Forex or CFDs, Spread Betting, Social Trading / Copy Trading, Metals, Energies and Agriculturals., neither have ETF Looking at total tradeable symbols, OANDA has 124, compared to 354 from GKFX.

Can I trade cryptocurrency with OANDA or GKFX?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither OANDA nor GKFX allow you to trade physical cryptocurrencies.

Who offers more research tools, OANDA or GKFX?

In terms of research and research tools OANDA gives traders the following tools: Autochartist, Daily Market Commentary, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. In comparison GKFX has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Trading Central (Recognia) and Social Trading / Copy Trading.




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