image Oanda VISIT OANDA image FXDD VISIT FXDD image IG VISIT IG
About

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

FXDD is regulated by MFSA. FXDD have provided Forex, Metals, Options, CFD, Oil trading services since 2002.

IG is regulated by the Financial Conduct Authority and ASIC. IG have provided forex, spread betting, CFD, and stock trading services since 1974.

Why choose them?
  • Yes Over 22 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority and ASIC
  • Yes Over 16 years in business
  • Yes
  • Yes
  • Yes Over 44 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority and ASIC
Headquarters London, UK Floriana, Malta London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting No No Yes
Social Trading No Yes No
MARKETS & INSTRUMENTS
Forex (currency pairs) 55 90
Commodities Offered 0 34
Stocks Offered 0 10 8000
Bitcoin No No Yes
Majors Yes Yes Yes
Indices Yes No Yes
US Stocks No No Yes
Penny stocks No No No
Energies Yes No Yes
Metals Yes Yes Yes
Agriculturals Yes No Yes
FTSE Yes No Yes
Dow Jones Yes No Yes
Dax No No Yes
Nikkei No No Yes
ETFs No Yes Yes
IPO No No Yes
See all instruments

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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

73.6% of retail investor accounts lose money when trading CFDs with FXDD Malta Ltd.

See all instruments

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 No No No
MT4 Mac No No Yes
WebTrader Yes Yes Yes
Mirror Trader No Yes No
ZuluTrade No Yes No
Sirix No No No
cTrader No No No
PAMM No Yes No
Custom Platforms OANDA APINo RoboX ProRealTime & L2 Dealer

APPS

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

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

English, French, German, Spanish, and Portuguese

See platform & features

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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

73.6% of retail investor accounts lose money when trading CFDs with FXDD Malta Ltd.

See platform & features

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

ACCOUNT INFORMATION

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

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

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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

73.6% of retail investor accounts lose money when trading CFDs with FXDD Malta Ltd.

See account options

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes No Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes No Yes
Direct market access Yes Yes Yes
STP broker No No Yes
Market maker No Yes No
Min trade Varies 01 Lot £1
Max trade Varies None Variable
Min deposit $1 $1 $250

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 No Yes
Signal trading No No Yes

FUNDING METHODS

Credit card Yes No Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal Yes No Yes
Neteller No No No
Skrill No No No
Payment processing time 1-2 business days 2 business days Varies
Withdrawal processing time 1-2 business days 5 to 10 business days Varies
See all funding options

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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

73.6% of retail investor accounts lose money when trading CFDs with FXDD Malta Ltd.

See all funding options

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

DETAILED INFO

Excluded countries US US BE,FR,IN,IL,PL,ZW
Contact email Send Email Send Email Send Email
phone number 44 20 3151 2050 (356) 20133933 44 20 7633 5300
Live Chat Yes No Yes
Website www.oanda.co.uk http://www.fxdd.com/mt/en.html http://www.ig.com/
Forex Spreads
EUR/USD 1.20 0.50 0.60
GBP/USD 1.50 0.30 0.90
USD/JPY 1.20 0.40 0.70
AUD/USD 1.2 1.7 0.6
Cryptocurrency Spreads N/A N/A 10
View all FX spreads

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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 FX spreads

73.6% of retail investor accounts lose money when trading CFDs with FXDD Malta Ltd.

View all FX spreads

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

INDICE SPREADS
Dax 30 1.5 28.0 1.0
Nasdaq 100 0.8 30.0 1.0
Euro Stoxx 50 1.5 N/A 1.5
ASX 200 1.0
S&P 500 0.50 10.0 0.4
FTSE 100 1.5 30.0 1.0
Google N/A 48 1 to 20
Facebook N/A 5 4 points per side
View all spreads

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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

73.6% of retail investor accounts lose money when trading CFDs with FXDD Malta Ltd.

View all spreads

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

FEES

Inactivity Fee No Yes
Commission No No Yes (0.1%)
Deposit Fee No Varies
Withdrawal Fee Varies No No
View All Fees

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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

73.6% of retail investor accounts lose money when trading CFDs with FXDD Malta Ltd.

View All Fees

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

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Last update

All information collected from www.oanda.co.uk. Last updated on 01/06/2019.

All information collected from http://www.fxdd.com/mt/en.html. Last updated on 01/06/2019.

All information collected from http://www.ig.com/. Last updated on 01/06/2019.

Company

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.

FXDD is a trusted online broker regulated by multiple authorities around the world including the Financial Conduct Authority in the UK. FXDD offer customised solutions to everyone from retail traders, hedge fund managers to white label products. Their global reach and state of the art technology have enabled FXDD to outgrow other brokerages and become a global force in Forex trading. They provide customer service in 13 languages and have a devoted client service no matter the size of the trader. FXDD also provide comprehensive training to cater for all levels of traders and hold daily interactive classes taught by expert analysts on top of the web based tools including trading calculators. They provide two simple pricing models, standard and ECN. Standard offers low spreads with no commissions and guaranteed zero slippage. ECN provides low direct raw spreads with no markups and a small $2.99 per standard lot commission with a 99% fill rate.

Founded in 1974, IG are one of the largest and most respected brokers in the world. With over 125,000 traders, low margins and spreads, and a range of platforms, they're a popular choice for traders looking for a reputable broker that also offers a good range of markets and trading options.

IG are also one of the few brokers that offer experienced traders the chance to upgrade to an elective professional status. For more information about trading with IG, we have put together an indepth IG review with all the pros and cons about this broker.

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Oanda or FXDD?

Well established or offers Islamic accounts ?

If you’re a trader looking for a broker that has been established for a long time, Oanda is likely a good choice. However, if

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 Oanda and FXDD to be equally reliable. We’ve broken down why below:

Who are they regulated by?

Oanda is regulated by Financial Conduct Authority and ASIC, while FXDD is regulated by MFSA.

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.

IG 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.

Oanda has been around for 23 years, while FXDD have been around for 17 years. Our third alternative broker, IG, have been around for 45 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 Oanda and FXDD 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 Oanda or FXDD 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.

Oanda is more popular with over 23,000 traders.

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 Oanda and FXDD 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.

Oanda are based in London, UK, while FXDD are based in Floriana, Malta.

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 Oanda and FXDD offer forex trading. Oanda have a slightly larger variety of currency pairs with 55 pairs, compared to offered by FXDD. Also, if you’re looking to trade cryptocurrencies,

If you’re looking to trade commodities like gold, silver or oil, Oanda may be a better fit as FXDD does not offer commodity trading.

FXDD 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 Oanda and FXDD offer this. Our alternative broker, IG, 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. Oanda, 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.

Oanda does allow scalping and hedging. While FXDD also allows scalping but doesn't allow hedging. You can trade with EAs (expert advisors) on both Oanda and FXDD.

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

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

Oanda accept Paypal while

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, Oanda charges 1.20 points, while FXDD charges 0.50 points. Therefore, FXDD 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: Oanda or FXDD?

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

Objectively, FXDD is more reliable based on our criteria above. Oanda 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.

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