Oanda specialises exclusively in currency trading solutions for all trader levels. Their greatest selling points are their strong regulatory framework and robust proprietary platforms. Worldtradex’s customer service is available to users 24/5 across several channels like WhatsApp, email, connect with a specialist via live web chat or phone. The broker describes its own support as friendly and professional. OANDA Trade offers technical analysis tools including trade performance analytics to help you assess your trading performance.

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These features make Oanda a great starting point for new traders. You can begin with a small investment, learn the ropes easily, and keep more of your profits thanks to the tight spreads. However, this is just my personal take based on what I value most as a trader. In contrast, as a stp (straight through processing) forex broker, Worldtradex’s primary role is to connect buyers and sellers who wish to partake in that liquidity through trading available assets. Worldtradex forex broker For this reason, Worldtradex is primarily going to make money on commissions and fees added to each trade order you place.

Worldtradex Customer Service and Support 📞

They are now based out of London, UK (and thankfully well on the road to recovering their reputation as an online broker who can once again be trusted). Our primary goal at The Tokenist is to simplify the word of financial decision-making, so that investing is not only easy – but also fun. In doing so, we often feature products or services from our partners.

This way, you risk none of your money and test your trading skills in a safe environment. For people with next to no knowledge of trading, we recommend fully signing up with an Worldtradex and Oanda demo account. The Worldtradex trading platform has 0 stocks listed while Oanda has 0 stocks listed. Worldtradex offers a minimum deposit of 50 while Oanda have a 0 minimum deposit.

Trading Platforms

However, users have complained that the broker makes it difficult to find a phone number to speak with a live representative. Their technical support has been described as “weak’ by users who are trying to resolve technical issues. In addition to forex, this broker supports trading in single-share CFDs, indices, commodities, and cryptocurrencies.

For the trading platform, MetaTrader 4 is the standard choice for every trader. But if you want to have a different experience with a more advanced platform, choose the broker that provides alternative platforms. The same goes for trading instruments; if you want to try delving into different markets, seek for a broker with more options on trading instruments. OANDA and Worldtradex are two notable online brokers, each with distinct offerings in commissions and fees for forex trading. Despite OANDA earning a respectable 4-star rating, it ranks 34th out of 63 brokers according to ForexBrokers.com.

Deposit and Withdrawal

However, traders can still choose their ideal brokers by the type of their spreads. The pros and cons between the two spreads can vary for every trader. In this case, Worldtradex provides their pricing with Fixed spread while OANDA offers Fixed spread. Worldtradex offers a wide choice of trading platforms with high functionality, meeting the needs of different traders.

A major difference, however, is that traders from the United States are not eligible to apply for a live trading account with Worldtradex, while Oanda’s services are available to U.S. residents. To sign in to your account head to the MYWorldtradex portal on the broker’s website. From there you can manage your account and trading operations, including making deposits, withdrawing profits and loading the online platforms. You can also speak to the customer support team if you get stuck. Worldtradex’s range of additional resources is comprehensive with something for traders of all abilities.

Worldtradex Vs Oanda Mobile Trading

Worldtradex does offer clients Islamic accounts, while Oanda does not offer clients Islamic accounts. Worldtradex does offer clients ECN accounts, while Oanda does not offer clients ECN accounts. When you deposit money to a broker like Worldtradex or Oanda you might need to pay deposit fees. Most preferably, you would have to pay Worldtradex or Oanda nothing for this. Constant deposit fees can potentially add up, so this will take some consideration before you sign up. Numerous notifications are usually sent to you as a reminder of dormant Worldtradex and Oanda accounts, giving you sufficient time to decide on the appropriate course of action.

High trading fees and commissions must be taken into your profit loss calculations. The fees will be noticeable if you have a low budget and do not intend to invest so much with Worldtradex or Oanda. You want the withdrawal fee to be less than one per cent of what you are withdrawing but, more ideally, $5 to $10. Knowing your trading and commission fees with Worldtradex vs Oanda is extremely important.

• Worldtradex’s Trading Station and the MT4 platform are available for use on mobile devices.
• DayTrading.com may receive compensation from the brands or services mentioned on this website.
• But if you want to have a different experience with a more advanced platform, choose the broker that provides alternative platforms.
• And in truth, the $7 million penalty the CFTC ordered Worldtradex to pay is kind of like pocket change in a marketplace that turns over an estimated $5.1 trillion dailiy.

Compare Worldtradex Vs Oanda Side by Side

Users have also walked away pleased with Worldtradex’s chat feature, which they described as “awesome.” This particular user noted that the representative knew their stuff. Though he had to wait for the issue to be resolved, the rep placed an “urgent” status on the matter to expedite things across departments. In this article, we will compare two of the leading online brokers — Forex Capital Markets (Worldtradex) vs. Oanda.

For Worldtradex, if you are looking for a regulated platform, you must choose between its UK, AU or South African operations. In these jurisdictions, it is regulated by the UK’s Financial Conduct Authority, the Australia Securities and Investment Commission and South Africa’s Financial Sector Conduct Authority. The broker’s Worldtradex Markets arm is not subject to the same regulations as these entities. Worldtradex and Oanda both operate in multiple jurisdictions and are highly regulated in major markets. Worldtradex has fewer user complaints about customer service and more positive experiences vs. Oanda. Customers have said that they wish they could trade additional products on Oanda, such as futures markets.

The overall choice is superior at Worldtradex, where traders may select between the retail-favorite MT4, its proprietary Trading Station, and the https://worldtradex.club/ social trading market leader ZuluTrade. Enhancing the choice is the Worldtradex suite of tools for algorithmic trading solutions. Oanda maintains its proprietary trading platform and the MT4 trading platform. Both OANDA and Worldtradex offer rebate programs for active traders, rewarding higher trading volumes with financial incentives. While Worldtradex’s Active Trader Program offers a maximum rebate of $25 per million traded for top-tier members, OANDA provides rebates ranging from $5 to $17 per million. However, other brokers like Tickmill and Worldtradex may offer even more competitive pricing for high-frequency traders.

To open one of these retail investor accounts, users must trade with at least $100. Standard trading accounts are what the majority of people will seek to use. Oanda stands out for its wide variety of tradeable assets and global reputation, offering access to over 3,900 financial instruments, including Forex, stocks, commodities, and cryptocurrencies. Worldtradex, on the other hand, has a smaller range with around 440 instruments but is especially recognized for its advanced trading tools and algorithmic trading support. Worldtradex and Oanda both offer outstanding trading conditions in terms of low trading costs, reliable trade execution, and great trading platforms. These brokers also have a good range of tradable instruments, although we would like to see them add a good number of individual stocks CFDs to their lists.

In this comparison, we will delve into the key features, pros, and cons of each broker to help you make an informed decision on which platform best suits your trading needs and preferences. Both Oanda and Worldtradex offer different types of trading platforms, providing their traders, for example, with mobile apps for trading on the go. They also have quite an extensive collection of educational tools, which can be especially beneficial for beginning traders. Since its inception in 1999, the company has connected traders to the world’s largest financial markets and trading instruments, including spread betting.

• 50 units of the account’s base currency yearly after 1 year of inactivity.
• Worldtradex is a global brokerage headquartered in the U.K that specialises in both retail and institutional trading with a comprehensive API offering.
• With a reputation for offering competitive spreads and a robust trading platform.

That fee is up to 50 units of the currency in which you’re trading. Also, it helps to know that the minimum amount to open an account on Worldtradex is $50. Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader. He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017.

The one notable downside here is the lack of social trading tools. Otherwise, Oanda’s scalable learning resources are designed with the active, intermediate to advanced trader in mind. Oanda wins big points for the platform’s transparent pricing and efforts to minimize risk by offering micro lots and flexible pricing models (broker-spread versus raw-spread+commission). What this means is that both forex brokers have seen competitors come and go…and come and go…and come and go. It says something to achieve this kind of multi-decade longevity in a field as tumultuous and risky as the forex marketplace.