OspreyFX vs Oanda Broker Comparison
Are you trying to figure out which is a better broker, OspreyFX or Oanda? After rigorously testing both brokers and putting each through our accurate and extensive reviewing process, we have concluded that Oanda is the better of the two. Oanda offers 126 instruments, licenses from FCA, ASIC, FSA(SVG), NFA, IIROC, MAS, and fair trading fees.
In the tables below, you can compare the features of OspreyFX 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 Oanda higher than OspreyFX.
Does OspreyFX 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 OspreyFX and Oanda are, we first considered the common fees on Standard Accounts. At OspreyFX the average spread for the EUR/USD currency pair is pips, whilst at Oanda the spread is 0.
This shows that OspreyFX is the better option for low-cost forex trading.
When it comes to non-trading fees, OspreyFX charges for . Oanda charges for . With this in mind, both brokers offer similar non-trading fees.
When our experts analyzed the specific costs of both brokers, we found that OspreyFX is the better option.
*Based on Standard account type.
Which broker is safer, OspreyFX 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.
OspreyFX is regulated by 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 OspreyFX is the safer broker.
How many trading instruments are available at OspreyFX and Oanda?
OspreyFX provides traders with 200+ instruments. This includes 50 currency pairs, cryptocurrencies, and stocks and shares. With OspreyFX, you cannot 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 Oanda has 126 and OspreyFX has 200+, a difference of 74, this shows that Oanda offers more opportunities to diversify your trading portfolio.
Which broker offers the best trading platform, OspreyFX 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.
OspreyFX 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 Oanda has more.
Overall, our experts agree that Oanda boasts the better trading platform offering.
Which is better for beginners, OspreyFX 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 OspreyFX is the better broker for beginner traders as it offers a larger range of educational tools and materials. OspreyFX also has a minimum deposit of $.