To find the top fx brokers
, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare FXDD vs OANDA.
To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. FXDD is a better option with a 4.00 star rating over OANDA's 3.50 star rating.
Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. OANDA is regulated in a major hub, FXDD isn't. Neither are publicly traded companies. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. OANDA boasts an offering of 71 different currency pairs compared to FXDD's 54 available pairs.
To round out our comparison of FXDD vs OANDA, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. FXDD and OANDA both offer Meta Trader. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. Both FXDD and OANDA provide clients with access to 31 total charting tools. Both FXDD and OANDA provide clients with access to 51 total indicators (eg, moving averages).
Overall, both FXDD and OANDA hold a 4.00 star rating. And, when it comes to individual category awards, both FXDD and OANDA found themselves without awards for 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 in 2018.