Axi vs Oanda: Comparison and Analysis

Axi vs Oanda: A Comprehensive Comparison Summary

Security

Axi is regulated by ASIC, DFSA, FCA, and SV, while Oanda is regulated by ASIC, MAS, FSA, FCA, NFA, IIROC, and BVI. Both brokers have high-security ratings, with Axi rated at 95 and Oanda rated at 94.

Winner: Axi

Demo Accounts

Axi offers a demo account with a duration of 30 days and virtual funds of $50,000. Multiple Axi demo sub-accounts can be opened with the same email address. On the other hand, Oanda provides an unlimited demo account with virtual funds of $100,000, and the virtual funds can be restored by contacting customer support.

Winner: Oanda

Account Opening

Axi has no minimum deposit requirement, while Oanda does not have a strict minimum deposit. Axi supports multiple account currencies, including AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, and USD. Oanda offers account currencies in USD, EUR, GBP, CZK, HKD, SGD, and JPY. Both brokers accept wire transfers, credit/debit cards, and eWallets. Axi provides a wider range of account options, including Standard account, Pro account, Elite account, Islamic account, and Professional account for advanced traders. Oanda offers a variety of accounts, including Standard account, Premium account, Core account, Spread Betting, and Professional account for advanced traders.

Winner: Axi

Social-Copy Trading

Axi provides a proprietary copy/social trading mobile app and supports social trading through the third-party platform Myfxbook. On the other hand, Oanda allows traders to engage in social trading through a third-party platform like TradingView and offers the option to use EAs on the MT4 and MT5 platforms for copy trading.

Winner: Axi

Markets

Axi provides access to a variety of markets, including Forex (70+), Commodities (11), Indices (30+), Stocks (100), ETFs (20+), and Crypto (29). Oanda offers a range of markets, including Forex (68), Commodities (31), Indices (18), Crypto assets (18), Stocks (1600+), ETFs (40), and Bonds (6). Both brokers offer CFD assets for trading. European traders using Oanda can access real stocks as well.

Winner: Oanda

Trading Fees

Axi offers variable spreads starting from 0.4 pip on Forex for standard accounts or from 0 pips with a $7 round-turn commission for pro accounts. Stocks commissions are 0% on their CFD stocks. Oanda provides variable spreads starting from 1.2 pips on Forex, which is above the market average. Oanda offers 0% commission on EUR accounts for stocks. Both brokers offer CFD trading, making them suitable for short-term investors.

Winner: Axi

Platforms

Axi offers the popular MetaTrader 4 (MT4) platform, available via desktop, web, and mobile devices. They also provide Psyquation, an AI-powered analytics platform available via webtrader, and AxiOne, a webtrader platform for UK clients engaging in spread betting. Oanda offers its proprietary platform, Oanda Trade Platform, available via desktop, web, and mobile. They also support MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. Oanda’s MT5 platform is available in the European Union.

Winner: Axi

Education/Customer Care

Axi provides a wide range of educational materials, including webinars, seminars, MT4 video tutorials, a free eBook, blog, courses, and a glossary. Their customer care is easily accessible via phone, email, and live chat. Oanda offers a range of educational materials, including technical and fundamental analysis tutorials, webinars, and events. Their customer care can be contacted via phone, email, and live chat as well.

Winner: Tie

Conclusion

In conclusion, Axi and Oanda have their strengths and weaknesses. Axi excels in security, account opening options, social-copy trading, trading fees, and platform variety. Oanda stands out in terms of unlimited demo account duration, a wide range of markets, and real stock access for European traders.

Considering all factors, if security, account opening options, social-copy trading, trading fees, and platform variety are important to you, Axi may be the better choice. However, if unlimited demo account duration, a wide range of markets, and real stock access are priorities, Oanda could be the preferred option.

Winner: Tie