image Oanda VISIT OANDA image Instaforex VISIT INSTAFOREX image Forex.com VISIT FOREX.COM
About

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

InstaForex are regulated by CySEC. They were founded in 2007 and are used by over 7,000,000 traders.

Forex.com is regulated by the Financial Conduct Authority. Forex.com have provided Forex, Commodities, Indices trading services since 1999.

Why choose them?
  • Yes Over 22 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority and ASIC
  • Yes Over 11 years in business
  • Yes Used by 7,000,000 traders
  • Yes Offers swap-free accounts
  • Yes Over 19 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
Headquarters London, UK Kaliningrad, Russia London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes Yes Yes
CFD Yes Yes Yes
Spread Betting No No No
Social Trading No Yes No
MARKETS & INSTRUMENTS
Forex (currency pairs) 55 107 80
Commodities Offered 0 2 12
Stocks Offered 0 88 220
Bitcoin No Yes Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks No Yes 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 No 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

50% of retail investor accounts lose money when trading CFDs with this provider.

See all instruments

70% of retail investor accounts lose money when trading 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 Yes No
MT4 Mac No No No
WebTrader Yes Yes Yes
Mirror Trader No Yes No
ZuluTrade No No No
Sirix No No No
cTrader No No No
PAMM No Yes No
Custom Platforms OANDA APINo No FOREXTrader PRO

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes Yes Yes
Available Languages

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

Arabic, Chinese, English, Portuguese, Russian, Spanish, and Indonesian

English, Chinese, and Arabic

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

50% of retail investor accounts lose money when trading CFDs with this provider.

See platform & features

70% of retail investor accounts lose money when trading CFDs with this provider

ACCOUNT INFORMATION

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

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

50% of retail investor accounts lose money when trading CFDs with this provider.

See account options

70% of retail investor accounts lose money when trading CFDs with this provider

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes Yes No
Direct market access Yes No Yes
STP broker No Yes Yes
Market maker No Yes Yes
Min trade Varies 0.01 Lot Varies
Max trade Varies 1,000 Lot 5 million
Min deposit $1 $1 $50

RISK MANAGEMENT

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

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal Yes No No
Neteller No Yes No
Skrill No No No
Payment processing time 1-2 business days 1-2 business days Varies
Withdrawal processing time 1-2 business days 1-6 business days 1-2 business days
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

50% of retail investor accounts lose money when trading CFDs with this provider.

See all funding options

70% of retail investor accounts lose money when trading CFDs with this provider

DETAILED INFO

Excluded countries US US BE
Contact email Send Email Send Email Send Email
phone number 44 20 3151 2050 7 (812) 4580354 Yes
Live Chat Yes Yes Yes
Website www.oanda.co.uk https://www.instaforex.com/ http://www.forex.com
Forex Spreads
EUR/USD 1.20 1.00
GBP/USD 1.50 1.00
USD/JPY 1.20 0.90
AUD/USD 1.2 2 1.2
Cryptocurrency Spreads N/A N/A
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

50% of retail investor accounts lose money when trading CFDs with this provider.

View all FX spreads

70% of retail investor accounts lose money when trading CFDs with this provider

INDICE SPREADS
Dax 30 1.5 250.0
Nasdaq 100 0.8 130.0
Euro Stoxx 50 1.5 4.0
ASX 200
S&P 500 0.50 50.0
FTSE 100 1.5 150.0
Google N/A N/A
Facebook N/A N/A
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

50% of retail investor accounts lose money when trading CFDs with this provider.

View all spreads

70% of retail investor accounts lose money when trading CFDs with this provider

FEES

Inactivity Fee No Yes No
Commission No Yes, $30 No
Deposit Fee No No No
Withdrawal Fee Varies Yes 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

50% of retail investor accounts lose money when trading CFDs with this provider.

View All Fees

70% of retail investor accounts lose money when trading CFDs with this provider

Featured In Best Futures BrokersBest Brokers For MetalsBest Dow Jones BrokersBest DAX BrokersBest FCA Regulated Brokers Best MT5 BrokersBest Brokers For Expert AdvisorsBest 5 Digit BrokersBest Brokers With VPSBest Brokers For Indices Best Futures BrokersBest FTSE100 BrokersBest Dow Jones BrokersBest DAX BrokersBest FCA Regulated Brokers
Last update

All information collected from www.oanda.co.uk. Last updated on 01/07/2019.

All information collected from https://www.instaforex.com/. Last updated on 01/07/2019.

All information collected from http://www.forex.com. Last updated on 01/07/2019.

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.

InstaForex are regulated by CySEC. They were founded in 2007 and are used by over 7,000,000 traders.

FOREX is a market leading broker with over 15 years' experience in the industry serving over 200,000 traders worldwide. As a publically traded company on the NY stock exchange, regulated by multiple regulating bodies including the Financial Conduct Authority in UK, FOREX is a broker you can trust. FOREX offer competitive pricing through its advanced technology and execute your trades fast and at the price you expect or better. Pricing is simple and easy to understand with no complicated commission structures or small print, you know what you will pay. With a commitment to customer support they offer 24 hour support from 9pm Sun through to 9pm Friday.

Popular comparisons

Popular comparisons feat. Oanda

Oanda Alternatives

Oanda vs Forex.com
Oanda vs IG
Oanda vs FXCM
Oanda vs AvaTrade
Oanda vs FxPro

Popular comparisons feat. Instaforex

Instaforex Alternatives

ETX Capital vs Instaforex
Core Spreads vs Instaforex
Plus500 vs Instaforex
IG vs Instaforex
Avatrade vs Instaforex

Popular comparisons feat. Forex.com

Forex.com Alternatives

Forex.com vs Oanda
Forex.com vs eToro
Forex.com vs Plus500
Forex.com vs FXCM
Forex.com vs IG

Oanda or Instaforex?

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 Instaforex to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

Oanda is regulated by Financial Conduct Authority and ASIC, while Instaforex is regulated by CySEC.

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.

Forex.com 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 Instaforex have been around for 12 years. Our third alternative broker, Forex.com, have been around for 20 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.

Oanda uses tier one banks as their banking partner.Instaforex does not use tier one banks as their banking partner.

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.

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, Oanda is more popular with over 23,000 traders, while Instaforex is used by 7,000,000 traders. Forex.com, 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 Oanda and Instaforex 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 Instaforex are based in Kaliningrad, Russia.

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 Instaforex offer forex trading. Instaforex have a slightly larger variety of currency pairs with 107 pairs, compared to 55 offered by Oanda. Also, if you’re looking to trade cryptocurrencies, Instaforex offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

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

Instaforex 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 Instaforex offer this. Instaforex also offer the new & improved MT5 platform. Our alternative broker, Forex.com, 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 Instaforex also allows scalping and hedging. You can trade with EAs (expert advisors) on both Oanda and Instaforex.

In terms of risk management tools, neither Oanda or Instaforex 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 Instaforex accept Neteller.

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 Instaforex charges points. Therefore, Instaforex 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 Instaforex?

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

Objectively, Instaforex is more reliable based on our criteria above. Oanda has a wider range of instruments to trade. Instaforex 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.