OANDA Alternatives: Pros, Cons, And How It Stacks Up 2024 Update
This alternatives to OANDA guide has been updated for 2024 by industry experts with years of financial experience in Forex, CFDs, & Social Trading. We have worked to gather hundreds of data points about the alternatives to OANDA to make sure you have as much information as possible to make an informed decision.
There are a lot of good alternatives to OANDA like Startrader, freetrade, and easyMarkets. They all provide the same, if not more, features to their clients. If you feel that OANDA is not quite right for you then it would be worth getting a virtual account with a few of the top OANDA alternatives and ensuring that they are a better fit for you before moving any money around.
The most in depth review of OANDA alternatives on the web
There are many reasons OANDA may not be a good fit for your trading needs. Whatever reason you are hunting for the best OANDA alternative or OANDA competitor with similar services, comparebrokers.org try to give you as much useful information so you can find what it is you need. Below you will discover the best OANDA alternatives.
For each of the below alternative to OANDA, we also highlight the key differences to OANDA and for each section show you the best alternatives. For every OANDA alternative online broker shown we also have detailed trading platform reviews and guides that you can easily click to read elsewhere on comparebrokers.org, all based on hundreds of datapoints collected and reviewed by experts. If you are unimpressed with OANDA, discover some great alternative brokersbrokers|online trading platforms|brokerages.
Using a reputable and dependable online broker is vital to your trading success. All of the OANDA alternative platforms shown in this OANDA alternatives guide have good reputations and fit what you are looking for.
Alternatives With Lower Minimum Deposit
OANDA has a minimum desposit of $1, you should check how the minimum deposit requirements of OANDA compare with the minimum deposits of OANDA competitors. Online brokers have lower minimum deposits to get users to test them out, but having higher a minimum deposit requirement isn’t necessarily a bad thing, it all depends on your personal trading needs.
| Broker | Minimum Deposit | Find Out More |
|---|---|---|
|
OANDA |
$1 | |
| freetrade |
$0 | |
| Uphold |
$1 | |
| ThinkMarkets |
$0 | |
| FreshForex |
$1 |
Alternatives Offering Demo Accounts
OANDA offers demo accounts so you can learn their systems before risking any real capital. New traders can open a virtual portfolio account in order to better understand the areas of Forex trading and test out some of the company’s features before signing up for a live account.
Below we detail some of the best alternatives to OANDA that offer virtual portfolio accounts.
| Broker | Offers Demo Account? | Find Out More |
|---|---|---|
|
OANDA |
Yes | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| PUPRIME |
Yes |
|
Alternatives Offering Negative Balance Protection
OANDA doesn't offer negative balance protection. If your balance is unfavorable, OANDA suggests that you promptly contact customer services. Then you can fix any imbalances within your account.
Below we list some of the best alternatives to OANDA that offer negative balance protection.
| Broker | Offers Negative Balance Protection? | Find Out More |
|---|---|---|
|
OANDA |
No | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| Uphold |
Yes |
Alternatives Offering Guaranteed Stop Loss
OANDA regrettably, does not provide guaranteed stop loss. OANDA gives a chance to its traders to close their trades at their specified price. Apart from that, OANDA doesn't provide guaranteed stop loss.
Below we list some of the best OANDA alternatives that offer guaranteed stop loss available for their users.
| Broker | Offers Guaranteed Stop Loss? | Find Out More |
|---|---|---|
|
OANDA |
No | |
| easyMarkets |
Yes | |
| Uphold |
Yes | |
| instaforex |
Yes | |
| FreshForex |
Yes |
Alternatives Offering Scalping
OANDA do permit scalping. Several traders throughout the world choose OANDA for their services that are trading. They offer trading on MT4, OANDA Desktop, OANDA Web, OANDA Mobile which allow this.
Below we list some of the top alternatives to OANDA that allow scalping functionality to their customers.
| Broker | Offers Scalping? | Find Out More |
|---|---|---|
|
OANDA |
Yes | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| PUPRIME |
No |
|
Alternatives That Allow Hedging
OANDA do allow hedging. Several traders throughout the world select OANDA due to their large range of services. They offer trading on MT4, OANDA Desktop, OANDA Web, OANDA Mobile.
Below we show some of the top alternatives to OANDA that allow hedging services to their customer base.
| Broker | Offers Hedging? | Find Out More |
|---|---|---|
|
OANDA |
Yes | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| PUPRIME |
No |
|
Alternatives That Allow Social Trading
Unfortunately, OANDA does not offer social trading.
Below we detail some of the best OANDA alternatives that offer social trading capabilities.
| Broker | Offers Social Trading? | Find Out More |
|---|---|---|
|
OANDA |
No | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| PUPRIME |
No |
|
Alternatives That Allow Copy Trading
Regretably, OANDA does not offer copy trading.
Below we list some of the top alternatives to OANDA that have copy trading to their users
| Broker | Offers Copy Trading? | Find Out More |
|---|---|---|
|
OANDA |
No | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| PUPRIME |
No |
|
Compare OANDA To All Other Brokers