Go Markets vs Oanda Broker Comparison
Are you trying to figure out which is a better broker, Go Markets or Oanda? After rigorously testing both brokers and putting each through our accurate and extensive reviewing process, we have concluded that Go Markets is the better of the two. Go Markets offers 100+ instruments, licenses from CySec, ASIC, FSA(SVG), FSC, and fair trading fees.
In the tables below, you can compare the features of Go Markets and Oanda side by side, to work out which suits your trading needs best. You can also carry on reading to find out why our experts ranked Go Markets higher than Oanda.
Does Go Markets or Oanda have lower trading costs and fees?
To compare the costs of trading at different brokers, our experts analyze both trading-specific fees, such as spreads, and non-trading fees, such as inactivity charges and payment costs.
To give an overall view of how cheap or expensive Go Markets and Oanda are, we first considered the common fees on Standard Accounts. At Go Markets the average spread for the EUR/USD currency pair is 1 pips, whilst at Oanda the spread is 0.
This shows that Oanda is the better option for low-cost forex trading.
When it comes to non-trading fees, Go Markets charges for inactivity. Oanda charges for . With this in mind, Oanda has lower non-trading fees.
When our experts analyzed the specific costs of both brokers, we found that Go Markets is the better option.
*Based on Standard account type.
Which broker is safer, Go Markets or Oanda?
In order to decide how safe our top-rated brokers are, our experts look at a number of factors. This includes what licenses the broker holds and how reputable those licenses are. We also consider the history of the broker, as a long-standing broker is often more reliable and trustworthy than a newer one.
Go Markets is regulated by CySec, ASIC, FSA(SVG), FSC and does not offer client protection. Oanda is regulated by FCA, ASIC, FSA(SVG), NFA, IIROC, MAS and does not offer client protection.
Considering these two factors, and the general reputation and history of both brokers, we believe that Go Markets is the safer broker.
How many trading instruments are available at Go Markets and Oanda?
Go Markets provides traders with 100+ instruments. This includes 50 currency pairs, 3 cryptocurrencies, and 0 stocks and shares. With Go Markets, you can also trade CFDs.
In comparison, Oanda boasts 126 tradable instruments. Oanda offers 45 currency pairs, 0 cryptocurrencies, and 0 stocks and shares. Oanda does not allow CFD trading.
As both brokers offer the same total number of instruments, both are great choice if you are wishing to diversify your trading portfolio.
Which broker offers the best trading platform, Go Markets or Oanda?
When our experts review a broker, they open their own accounts and place trades via the broker’s trading platform. This allows them to fully evaluate the quality of the platform, how easy it is to use and what features it offers.
Go Markets provides you with the ability to trade via 3 trading platforms, and Oanda has 3 trading platforms, too. Both brokers also offer research and trading tools, however Go Markets has more.
Overall, our experts agree that Go Markets boasts the better trading platform offering.
Which is better for beginners, Go Markets or Oanda?
To decide how well-suited a broker is for beginner traders, our experts look at what educational materials are available, how accessible the minimum deposit limits are, the range of account types and whether or not you can practice trading with a demo account first.
Considering this, our reviews show that Go Markets is the better broker for beginner traders as it offers a larger range of educational tools and materials. Go Markets also has a minimum deposit of $.