AvaTrade vs Oanda: Comparison and Analysis

AvaTrade vs Oanda: A Comprehensive Broker Comparison

When looking for a brokerage service, one of the most important things to consider is the security of your funds. Both AvaTrade and Oanda are highly regulated and secure, with AvaTrade being regulated by ASIC, FSCA, CBI (Ireland), IIROC, JFSA, BVI (British Virgin Island) and Oanda being regulated by ASIC, MAS, FSA, FCA, NFA, IIROC, BVI. Both brokers have a security rating of 94.

Demo Accounts

AvaTrade offers a demo account with a duration of 21 days and virtual funds of $10,000. The virtual funds can be restored by contacting customer support. On the other hand, Oanda offers an unlimited demo account with virtual funds of $100,000, which can also be restored by contacting customer support.

Account Opening

AvaTrade requires a minimum deposit of $100, while Oanda has no minimum deposit requirement. AvaTrade accepts payment methods such as wire transfers, credit/debit cards, and eWallets. Account currency options include USD, EUR, GBP, JPY, AUD, CAD, and ZAR. AvaTrade offers several account types, including Standard, Spread Betting, Islamic, and Professional accounts. Oanda, on the other hand, offers Standard, Premium, Core, Spread Betting, and Professional accounts. Payment methods and account currencies are similar to AvaTrade.

Social-Copy Trading

AvaTrade offers copy-social trading via third-party platforms such as ZuluTrade and DupliTrade, as well as its own proprietary platform called AvaSocial. Oanda, on the other hand, allows traders to engage in copy-social trading through third-party platforms such as Tradingview. Additionally, traders can use EAs on the MT4 and MT5 platforms to engage in copy trading.

Markets

AvaTrade offers 53 forex pairs, 19 commodities, 31 indices, 20 crypto assets, 610+ stocks, 60+ ETFs, and 54+ futures and options. Oanda offers 68 forex pairs, 31 commodities, 18 indices, 18 crypto assets, 1600+ stocks, 40 ETFs, and 6 bonds. Both brokers offer CFDs on all assets, making them suitable for short-term investment. European traders can also access real stocks through Oanda.

Trading Fees

AvaTrade offers fixed spreads, starting from 0.9 pips on forex. On the other hand, Oanda offers variable spreads, starting from 1.2 pips on forex. While AvaTrade’s spreads are generally lower than Oanda’s, they are higher than the market average. Oanda does not charge any commission on stocks for EUR accounts.

Platforms

AvaTrade offers a proprietary platform available via web, desktop, and mobile, as well as MetaTrader 4 and 5 via web, desktop, and mobile. AvaTradeGo is the mobile app for Android and iOS, while AvaOptions is designed for trading options on desktop and mobile. AvaSocial is designed for social-copy trading on mobile. Oanda offers its proprietary platform called Oanda Trade Platform, available via desktop, web, and mobile, as well as MetaTrader 4 and 5 via web, desktop, and mobile in the European Union.

Education and Customer Care

AvaTrade offers a strong education offering with a focus on beginner traders, including in-depth webinars for professional traders. Customer care is easy to contact via phone, email, and live chat in over 25 available languages. Oanda offers a range of technical and fundamental analysis tutorials, webinars, and events. Customer care is easy to contact via phone, email, and live chat.

Conclusion

In conclusion, both AvaTrade and Oanda are highly regulated and secure brokers that offer similar payment methods and account currency options. AvaTrade offers a demo account with a duration of 21 days and virtual funds of $10,000, while Oanda offers an unlimited demo account with virtual funds of $100,000. AvaTrade offers a proprietary social-copy trading platform called AvaSocial, while Oanda allows traders to engage in copy trading via third-party platforms such as Tradingview. AvaTrade offers fixed spreads starting from 0.9 pips on forex, while Oanda offers variable spreads starting from 1.2 pips on forex. Both brokers offer CFDs on all assets, making them suitable for short-term investment, while European traders can access real stocks through Oanda. AvaTrade offers a strong education offering with a focus on beginner traders, while Oanda offers a range of technical and fundamental analysis tutorials, webinars, and events. Overall, the choice between AvaTrade and Oanda ultimately depends on the individual trader’s specific needs and preferences.