Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.
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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. |
Oanda
9.3
/10
VISIT OANDA
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. |
Swissquote
8.8
/10
VISIT SWISSQUOTE
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
VISIT AVATRADE
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. |
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About |
Oanda is regulated by the Financial Conduct Authority, ASIC, NFA, IIROC and MAS. Oanda have provided Forex trading services since 2011. |
Swissquote is regulated by FINMA (Swiss Financial Market Supervisory Authority). Swissquote have provided Forex, Commodities, Indices, Stocks, Bonds trading services since 1999. |
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. |
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Why choose them? |
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Headquarters | London, UK | Chemin de la Cretaux 33, 1196 Gland, Switzerland | Dublin, Ireland | |
TRADING SERVICES OFFERED |
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Spot Forex | ||||
Forex (CFD) | ||||
CFD | ||||
Spread Betting | ||||
Social Trading | ||||
MARKETS & INSTRUMENTS | ||||
Forex (currency pairs) | 71 | 138 | 59 | |
Commodities Offered | 12 | 7 | 16 | |
Stocks Offered | 0 | 0 | 99 | |
Bitcoin | ||||
Majors | ||||
Indices | ||||
US Stocks | ||||
Penny stocks | ||||
Energies | ||||
Metals | ||||
Agriculturals | ||||
FTSE | ||||
Dow Jones | ||||
Dax | ||||
Nikkei | ||||
ETFs | ||||
IPO | ||||
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
Losses can exceed deposits |
See all instruments
79% of retail investor accounts lose money when trading CFDs with this provider. |
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PLATFORM & FEATURES |
See the platforms and features offered by each broker |
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Screenshot |
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MT4 | ||||
MT5 | ||||
MT4 Mac | ||||
WebTrader | ||||
Mirror Trader | ||||
ZuluTrade | ||||
Sirix | ||||
cTrader | ||||
PAMM | ||||
Custom Platforms | OANDA APINo | eTrading | AvaTradeAct, AVAOptions | |
APPS |
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iOS |
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Android |
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Windows |
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Available Languages |
English, Chinese, French, German, Japanese, Korean, Russian, and Spanish |
English, German, French, Italian, Spanish, Arabic, Russian, and Chinese |
English, Italian, German, French, Greek, Hebrew, Spanish, Arabic, Malay, Russian, Chinese, Portuguese and Dutch |
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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
Losses can exceed deposits |
See platform & features
79% of retail investor accounts lose money when trading CFDs with this provider. |
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ACCOUNT INFORMATION |
From micro accounts to ECN accounts, compare the accounts offered by Oanda and Swissquote |
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Demo account | ||||
Mini account | ||||
Micro account | ||||
Standard account | ||||
ECN Account | ||||
Islamic account | ||||
Zero spread account | ||||
VIP account | ||||
Fixed spreads | ||||
Variable spreads | ||||
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
Losses can exceed deposits |
See account options
79% of retail investor accounts lose money when trading CFDs with this provider. |
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TRADING CONDITIONS |
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Scalping | ||||
Hedging | ||||
Expert advisors (EAs) | ||||
Virtual private server | ||||
Direct market access | ||||
STP broker | ||||
Market maker | ||||
Min trade | Varies | Varies | 0.01 Lot | |
Max trade | Varies | Varies | None | |
Min deposit | $1 | 1,000 | $100 | |
RISK MANAGEMENT |
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Stop losses | ||||
Limit orders | ||||
One-click trading | ||||
Trailing stops | ||||
Price alerts | ||||
Signal trading | ||||
FUNDING METHODS |
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Credit card | ||||
Bank transfer | ||||
Standard account | ||||
Paypal | ||||
Neteller | ||||
Skrill | ||||
Payment processing time | 1-2 business days | 1 business day | Varies | |
Withdrawal processing time | 1-2 business days | 1 business day | Varies | |
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
Losses can exceed deposits |
See all funding options
79% of retail investor accounts lose money when trading CFDs with this provider. |
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DETAILED INFO |
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Excluded countries | US,HK,BE,CA,FR,DZ,IR,SG,JP,TN,MA,TR,MT,UY | US,HK,BE,CA,FR,DZ,IR,SG,JP,TN,MA,TR,MT,UY | BE,BR,NZ,US,KE,IN,GH | |
Contact email | Send Email | Send Email | Send Email | |
Phone number | 44 20 3151 2050 | 44 20 7186 2600 | (44) (0) 8005200423 | |
Live Chat | ||||
Website | www.oanda.co.uk | www.swissquote.eu | http://www.avatrade.com/ | |
Spreads: | ||||
EUR/USD (Average: 0.7 pips) | 1.1 pips + $0.00 | 1.0 pips | 0.9 pips | |
GBP/USD (Average: 1.1 pips) | 1.7 pips + $0.00 | 1.1 pips | 1.6 pips | |
USD/JPY (Average: 1.1 pips) | 1.2 pips + $0.00 | 1.3 pips | 1.1 pips | |
AUD/USD (Average: 0.8 pips) | 1.2 pips + $0.00 | 1.0 pips | 1.1 pips | |
USD/CHF (Average: 2.3 pips) | 1.6 pips + $0.00 | 1.7 pips | 1.6 pips | |
USD/CAD (Average: 2.9 pips) | 1.6 pips + $0.00 | 2.2 pips | 2.0 pips | |
NZD/USD (Average: 3.6 pips) | 1.6 pips + $0.00 | 1.5 pips | 1.8 pips | |
EUR/GBP (Average: 2.4 pips) | 1.4 pips + $0.00 | 1.3 pips | 1.5 pips | |
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
Losses can exceed deposits |
View all spreads
79% of retail investor accounts lose money when trading CFDs with this provider. |
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FEES |
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Inactivity Fee | No | No | No | |
Commission | No | No | No | |
Deposit Fee | No | No | No | |
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. 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
Losses can exceed deposits |
View All Fees
79% of retail investor accounts lose money when trading CFDs with this provider. |
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Last update |
All information collected from www.oanda.co.uk. Last updated on 01/01/2021. |
All information collected from www.swissquote.eu. Last updated on 01/01/2021. |
All information collected from http://www.avatrade.com/. Last updated on 01/01/2021. |
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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. |
Swiss based Swissquote is an online trading company that provide everything you need to manage your assets online. With Swissquote you are only one click away from trading in the worlds major stock markets in over 1 million products. They give you access to equities, options and futures, funds, derivatives and more. |
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. |
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Popular comparisons |
Popular comparisons feat. Oanda
Oanda vs Forex.com |
Popular comparisons feat. Swissquote
Swissquote vs Dukascopy |
Popular comparisons feat. AvaTrade
Avatrade vs LCG |
If you’re a trader looking for a broker that offers VIP accounts, Oanda may be the better option. However, if you want a broker with lower spreads on currency pairs like EUR/USD, Swissquote may be more appropriate.
You can determine a broker’s reliability & trustworthiness by looking at eight factors:
Based on these eight factors, we consider Swissquote to be the more reliable broker. We’ve broken down why below:
Oanda is regulated by Financial Conduct Authority and ASIC, while Swissquote is regulated by Financial Conduct Authority.
AvaTrade are regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI
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 25 years, while Swissquote have been around for 25 years. Our third alternative broker, AvaTrade, have been around for 15 years.
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.
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 Swissquote use tier one banks, but we are not sure of which bank specifically.
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 Swissquote in the past five years.
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 Swissquote is used by 330,000 traders. AvaTrade, in comparison, is used by 200,000.
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 Swissquote are privately owned companies.
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 Swissquote are based in Chemin de la Cretaux 33, 1196 Gland, Switzerland .
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:
If you’re looking to trade currency pairs, both Oanda and Swissquote offer forex trading. Swissquote have a slightly larger variety of currency pairs with 138 pairs, compared to 71 offered by Oanda. Also, if you’re looking to trade cryptocurrencies,
Both Oanda and Swissquote allow you to trade commodities like gold, silver and crude oil.
Swissquote also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.
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 Swissquote offer this. Swissquote also offer the new & improved MT5 platform. Our alternative broker, AvaTrade, 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.
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 Swissquote also allows scalping and hedging. You can trade with EAs (expert advisors) on both Oanda and Swissquote.
In terms of risk management tools, neither Oanda or Swissquote 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 Swissquote accept Payoneer.
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 Swissquote charges 0.80 points. Therefore, Swissquote 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.
There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.
Objectively, Swissquote is more reliable based on our criteria above. Swissquote has a wider range of instruments to trade. Swissquote 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.