worldtradex vs Oanda Comparison 2024

Customer service and support is a particularly big deal in the fast-moving, high-risk field of forex trading. A minute can equal an eternity in a marketplace that deals in the trillions on a daily basis. 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. For traders, particularly those searching for algorithmic trading solutions, worldtradex continues to be one of the most competitive alternatives available. Clients are given access to high-calibre research via worldtradex Plus, and novice traders are given access to informative teaching material.

Since its inception in 1999, the company has connected traders to the world’s largest financial markets and trading instruments, including spread betting. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Oanda offers access to over 70 forex trading pairs, including major and minor currency pairs. Users can choose to trade them on the OANDA trade platform or MT4. Margin requirements are based on the leverage allowed by regulators in a jurisdiction.

Oanda Customer Service and Support ☎

But then again, Oanda requires an initial minimum of just $50 to fund a live trading account, while worldtradex requires a $300 minimum to fund the same. Each trader comes to the forex marketplace with their own individual needs, preferences and goals. One year after worldtradex began its long descent into scandal, Oanda released what is still a seminal manifesto in the forex marketplace, the Forex Trader’s Bill of Rights. 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). All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team.

Tie: Lowest Spreads And Fees

If you need a MAM account check if MAM accounts are available with worldtradex or Oanda or alternative. If you are not near your desktop computer, you will probably be near and have access to your phone and worldtradex and Oanda mobile trading apps. This way, you can take advantage of all potential trading opportunities mobile trading with worldtradex or Oanda.

• Charging forward, worldtradex proceeded to add cryptocurrency baskets for retail traders along with a host of new targeted offerings for its B2B and data division clients.
• Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader.
• worldtradex is licensed by two Tier-1 Regulators (high trust), two Tier-2 Regulators (average trust), and zero Tier-3 Regulators (low trust).
• 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.

worldtradex: Best For Experienced Traders

For the majority of the worldtradex 10,000 financial instruments and Oanda 4,000 available financial instruments . The saying ‘Variety is the spice of life’ holds for financial markets. It is always advisable to have a diversified investment portfolio whether trading with worldtradex or Oanda. A diversified portfolio with worldtradex or Oanda can safeguard your investments from significant downturns in any particular market.

Retail brokers, small hedge funds, and developing market banks all have access to wholesale execution and liquidity via worldtradex Pro. High and medium frequency funds, on the other hand, have access to prime brokerage services through worldtradex Prime. You can trade 42 forex pairs with worldtradex while OANDA offers you more options with 71 forex pairs. worldtradex offers better pricing since there is ECN execution of trades. In addition, the commissions that South Africans can expect from worldtradex is competitive at $25 per $1 million traded.

worldtradex, on the other hand, also accepts credit/debit cards and bank transfers but adds the option of Skrill for traders who prefer e-wallets. Based on our analysis, worldtradex offers a slightly more comprehensive customer service experience, particularly with its educational webinars and in-depth responses. Like worldtradex, OANDA has a commission account called their Cores spread account, and it is available in Australia, Singapore and the US. This account has a fixed rather than a tiered commission for each lot, this being $7.00 per lot, which in our experience, is the standard amount most brokers charge.

Because worldtradex places such a focus on combining value-added services and resources, experienced traders benefit the most from the company’s efforts in this area. Both Oanda and worldtradex are forex brokers that have been in the online trading business for decades now. worldtradex followed shortly after, as they were founded just three years after Oanda – in 1999. The trading platform is essential as you can’t execute a trade without it. Additionally, trading platforms provide price charts and an assortment of analytical tools to help traders with their strategies. In this case, worldtradex provides their pricing with Fixed spread while OANDA offers Fixed spread.

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. ZuluTrade is a peer-to-peer social trading platform that lets users interact with other traders and replicate their market positions. This is a great option for beginners looking to learn more about trading shares for example.

In 2015, Worldtradex company reviews worldtradex was bought by Leucadia Investments which forms part of the Jeffries Financial Group. Today, worldtradex has over 130,000 customer accounts globally with a long list of British traders supported from the broker’s London headquarters. Oanda also lets you trade cryptocurrencies like bitcoin or Ethereum via CFDs on the Oanda mobile app or its platform. Oanda offers crypto spot trading through its partner and crypto service provider Paxos.

Commissions

A standard account is available on worldtradex and Oanda to more experienced traders. This account allows users to trade on stocks, commodities, crypto etc. To open one of these retail investor accounts, users must trade with at least $100.

Risk Management

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. To support their clients, OANDA enables trading with FxTrade App, MetaTrader 5, Oanda Platform, MetaTrader 4. In comparison, worldtradex provides trading with MetaTrader 4 (Limited with 30 days), Trading Station II (Limited with 30 days), MirrorTrader, NinjaTrader with the support of . When trading CFDs, stocks, commodities, currencies, cryptocurrencies or any other financial instruments with either worldtradex or Oanda you will find Email support is also very useful. Sometimes you might have a more complex question requiring a specific part of the worldtradex or Oanda support team to answer satisfactorily.

• It offers a wide breadth of forex data services including an historical currency converter and a strong API feature.
• We’ve compared more than 100 variables and features so you can see the pros and cons of worldtradex and Oanda side by side.
• All in all, the two brokers are a solid choice regardless of which one you decide to go with.
• Among them, in 2015, worldtradex found itself short on cash after the Swiss National Bank suddenly decided to lift a cap it had on the Swiss franc at the time.

worldtradex and Oanda offer daily market commentaries and frequent webinars to assist and educate their traders. Both brokers also have really good client support systems in place. Oanda’s support team is available 24/6 while worldtradex’s is available 24/5.

Through a partnership with Jefferies Group, worldtradex offers a professional trading service for financial institutions and sophisticated traders. The rise of the internet has paved the way for online brokers, which in turn have given individual investors the same access to global markets as institutional investors. Thanks to online brokers, traders have tools at the fingertips that can transform them from a novice into a pro.