Our ForexBrokers.com team spent seven months and hundreds of hours assessing 20 different forex broker accounts
for trading FX. In total, over 5,000 data points were collected. For this review, we will compare AvaTrade vs OANDA.
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. OANDA received a rating of 3.50 stars over AvaTrade's 3.00 stars.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. AvaTrade and OANDA both are regulated in a major hub. Neither AvaTrade and OANDA are publicly traded companies. How many currency pairs are available to trade? OANDA offers its clients access to 70 different currency pairs while AvaTrade has 59 available pairs, a difference of 11.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. AvaTrade alongside OANDA offer Meta Trader. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Both brokers offer clients access to the same number of charting tools, 31. AvaTrade and OANDA offer the same number of indicators (eg, volume), 51.
Overall, both AvaTrade and OANDA are rated 3.50 stars. And, when it comes to individual category awards, neither AvaTrade nor OANDA were rated Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education.