In this review, we looked at how the Forex broker OANDA and worldtradex compare. Both have their own trading platform plus MT4 and TradingView, along with (mostly) no commissions. 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. Trading Station lets you pre-load tools like real volume, market depth and trader sentiment. You can personalize your platform by downloading indicators, creating watchlists and customizing layouts to better equip the platform to match your strategy.

Some forex traders prefer to trade through market makers, while others prefer to trade through intermediary brokers. Personal preference aside, the important takeaway here is that there is no one “right” or “wrong” choice of where to trade forex. By 2018, worldtradex was under new ownership with a new global CEO, longtime company executive Brendan Callan. 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.

worldtradex Additional Features

• Most preferably, you would have to pay worldtradex or Oanda nothing for this.
• Like worldtradex, OANDA has a commission account called their Cores spread account, and it is available in Australia, Singapore and the US.
• From there you can manage your account and trading operations, including making deposits, withdrawing profits and loading the online platforms.
• You can personalize your platform by downloading indicators, creating watchlists and customizing layouts to better equip the platform to match your strategy.

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. 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.

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Whether it’s foreign exchange (forex), shares, bonds, commodities or cryptocurrencies. The rise of online brokers and mobile trading has been a major milestone that has helped to level the playing field for investors. Straight Through Processing or STP is where a requested client’s trade orders are sent directly to the markets. STP is a non-dealing desk trading method aimed mainly at Forex traders. ECN accounts are used for fast and efficient trading, with lower transaction costs and greater transparency. While they may not be suitable for all traders, those with the necessary experience and expertise can benefit greatly from using an ECN account.

worldtradex is behind Trading Station, an early trading platform that gave traders direct access to the forex market. worldtradex is a forex, CFD, equities, precious metals and crypto broker with over 20 years of experience. Through a partnership with Worldtradex reviews 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.

IC Markets Features

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. Oanda’s list also lacks cryptocurrencies, but perhaps it will have some crypto instruments available soon. When it comes to supporting resources, both brokers offer investor dictionaries with definitions for over 50 key investing terms, helping users understand the jargon of the industry. In terms of educational ratings, OANDA scores slightly higher with a perfect 5-star rating, whereas worldtradex follows closely with 4.5 stars. Interestingly, worldtradex is ranked higher at #14 for education by ForexBrokers.com compared to OANDA’s rank at #22 out of 62 brokers.

However, there’s a trend sweeping the industry of zero-commission trading, leaving many trading platforms to make money from the spread between two instruments. To learn about a broker’s pricing model, it helps to examine the various charges for trading specific markets, as they tend to vary and can also get updated. One primary and self-evident factor to remember is that you must only deposit an amount that fits your financial capacity with either worldtradex or Oanda.

worldtradex offers a wide choice of trading platforms with high functionality, meeting the needs of different traders. Both brokers offer better trading conditions for traders with large trading accounts or those (worldtradex traders) who maintain a certain minimum monthly trading volume. OANDA, established in 1996, and worldtradex, founded in 1999, are two online brokers that offer forex trading but differ in several key areas, including their regulatory framework and Trust Score ratings. OANDA holds 7 Tier-1 licenses, demonstrating a strong regulatory position, while worldtradex has 4 Tier-1 licenses and an additional 2 Tier-2 licenses. Looking at the average standard account spreads for the forex pairs, we can see some interesting patterns. For the EUR/USD pair, worldtradex has an average spread of 1.3, while OANDA has a slightly lower spread of 1.2.

DayTrading.com may receive compensation from the brands or services mentioned on this website. worldtradex also offers a paid programming service to clients interested in automating their trading strategies. OANDA has a lower minimum deposit requirement of $0 vs $50 from worldtradex. Having said that, if you use cards or Trustly as your payment option, both channels require at least $25 or equivalent. We consider both brokers a toss-up with commodities as they have virtually equal offerings. Oanda gave us the edge to choose more bonds and treasuries, which we really liked.

Trading platforms and tools

The OANDA subsidiary with whom a client contracts depends on their country of residence. Each subsidiary provides different products via different platforms, so clients will experience OANDA differently depending on their country of residence. worldtradex offers comprehensive analytical tools, from trading signals to expert research. These resources not only simplify trading decisions but also help to improve strategy. Oanda provides various trading accounts, but some specialized types are missing.

Users also have the convenience to access TradingView Live Trading Integration with worldtradex to trade directly from your TradingView charts. You’ll want to be mindful about leaving positions open overnight on Oanda. This broker charges a financing cost to users at the end of each trading day for open positions.

• Despite both brokers being highly regulated, we found the brokers are not spotlessly clean.
• However, there is an inactivity fee and a fee for fund withdrawal.
• However, it’s essential to consider drawbacks such as fees for account inactivity and the limited variety of trading accounts.
• 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.
• worldtradex is a reliable and competitive online broker, particularly for forex and CFD traders.

The structured system and quick verification make this process convenient and straightforward. Oanda and worldtradex are both market maker/ECN hybrids, meaning that both have at least one commission-free account type with a dealing desk, usually a sophisticated electronic one. Withdrawal processing times depend on the payment processor, where worldtradex offers more transparency, noting it processes requests within two business days.

What’s a PIP in forex trading?

worldtradex does offer clients Islamic accounts, while Oanda does not offer clients Islamic accounts. An Islamic account is for people who respect the Quran and want to invest in the Islamic stock market. Islamic trading accounts might seem very niche, but it is essential for those concerned as it follows certain ethics concerning the principles of Islam.

In this case, OANDA provides their pricing with Fixed spread while worldtradex offers Fixed spread. The overall choice is superior at worldtradex, where traders may select between the retail-favorite MT4, its proprietary Trading Station, and the 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.