Trade Nation vs Oanda Broker Comparison
Are you trying to figure out which is a better broker, Trade Nation or Oanda? After rigorously testing both brokers and putting each through our accurate and extensive reviewing process, we have concluded that Trade Nation is the better of the two. Trade Nation offers 2,500 instruments, licenses from FCA, FSCA, ASIC, SCB, FSP, and fair trading fees.
In the tables below, you can compare the features of Trade Nation 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 Trade Nation higher than Oanda.
Does Trade Nation 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 Trade Nation and Oanda are, we first considered the common fees on Standard Accounts. At Trade Nation the average spread for the EUR/USD currency pair is 1.5 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, Trade Nation 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 Trade Nation is the better option.
*Based on Standard account type.
Which broker is safer, Trade Nation 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.
Trade Nation is regulated by FCA, FSCA, ASIC, SCB, FSP and offers client protection. Oanda is regulated by FCA, ASIC, FSA(SVG), NFA, IIROC, MAS and offers client protection.
Considering these two factors, and the general reputation and history of both brokers, we believe that Trade Nation is the safer broker.
How many trading instruments are available at Trade Nation and Oanda?
Trade Nation provides traders with 2,500 instruments. This includes 33 currency pairs, 0 cryptocurrencies, and 2000+ stocks and shares. With Trade Nation, 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 Oanda has 126 and Trade Nation has 2,500, a difference of 2374, this shows that Oanda offers more opportunities to diversify your trading portfolio.
Which broker offers the best trading platform, Trade Nation 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.
Trade Nation provides you with the ability to trade via 2 trading platforms, and Oanda has 3 trading platforms. Both brokers also offer research and trading tools, however Trade Nation has more.
Overall, our experts agree that Oanda boasts the better trading platform offering.
Which is better for beginners, Trade Nation 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 Trade Nation is the better broker for beginner traders as it offers a larger range of educational tools and materials. Trade Nation also has a minimum deposit of $.