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OANDA vs LCG Review

Steven Hatzakis

Published by Steven Hatzakis


Wednesday, April 17th, 2019

Is LCG better than OANDA? After scoring forex brokers on nearly 100 different variables, OANDA is better than LCG. OANDA caters well to traders of all experience levels, offering access to forex trading and CFDs on major indices and commodities via its regulated international businesses. OANDA combines powerful charting and comprehensive research tools across multiple trading platforms.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall
Regulation
Trust Score
Year Founded
Publicly-Traded Company (Listed)
Regulated in Major Hub
Regulated in Emerging Hub
CFTC Registered (USA)
Authorised in the European Union
FCA Authorised (UK)
FINMA Authorised (Switzerland)
ASIC Authorised (Australia)
MAS Authorised (Singapore)
IIROC Authorised (Canada)
SFC Authorised (Hong Kong)
FSA Authorised (Japan)
CySEC Authorised (Cyprus)
FMA Authorised (New Zealand)
Investments
Forex: Spot Trading
Currency Pairs (Total Forex pairs)
CFDs - Total Offered
Cryptocurrency traded as actual
Cryptocurrency traded as CFD
Offering of Investments
Winner
Cost
Average Spread EUR/USD - Standard
All-in Cost EUR/USD - Active
Active Trader or Premium/VIP
Commissions & Fees
Winner
Funding
Minimum Initial Deposit
Bank Wire (Deposit/Withdraw)
Visa/Mastercard (Credit/Debit)
PayPal (Deposit/Withdraw)
Skrill (Deposit/Withdraw)
UnionPay (Deposit/Withdraw)
Trading Platforms
Proprietary Platform
Desktop Platform (Windows)
Web Platform
Social Trading / Copy-Trading
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
Trading Tools
Virtual Trading (Demo)
Alerts - Basic Fields
Watchlists - Total Fields
Charting - Indicators / Studies (Total)
Charting - Drawing Tools (Total)
Charting - Trade From Chart
Charting - Drawings Autosave
Order Type - Trailing Stop
Platform & Tools
Winner
Mobile Trading
Android App
Apple iOS App
Trading - Forex
Trading - CFDs
Alerts - Basic Fields
Watch List
Watch List Syncing
Charting - Indicators / Studies
Charting - Draw Trend Lines
Charting - Trend Lines Moveable
Charting - Multiple Time Frames
Charting - Drawings Autosave
Forex Calendar
Mobile Trading
Winner
Research
Daily Market Commentary
Forex News (Top-Tier Sources)
Weekly Webinars
AutoChartist
Trading Central (Recognia)
Delkos Research
Social Trading / Copy-Trading
Social Sentiment - Currency Pairs
Economic Calendar
Research
Winner
Education
Has Education - Forex
Has Education - CFDs
Client Webinars
Client Webinars (Archived)
Videos - Beginner Trading Videos
Videos - Advanced Trading Videos
Investor Dictionary (Glossary)
Tutorials/Guide (PDF or Interactive)
Education
Winner
Major Forex Pairs
GBPUSD (or USDGBP)
USDJPY (or JPYUSD)
EURUSD (or USDEUR)
USDCHF (or CHFUSD)
USDCAD (or CADUSD)
NZDUSD (or USDNZD)
AUDUSD (or USDAUD)
USDCNH (or CNHUSD)
USDSGD (or SGDUSD)
Overall
Overall
Winner
Exceptional execution. No minimum trade size. No minimum deposit. Learn More
4
77% of retail CFD accounts lose money
 
88
1996
No
Yes
No
Yes
Yes
Yes
No
Yes
Yes
Yes
No
Yes
No
No
 
Yes
71
52
No
Yes
3.5
 
1.4
1
Yes
4
check_circle
 
$0.00
Yes
Yes
No
No
No
 
Yes
Yes
Yes
Yes
Yes
No
No
 
Yes
Yes
7
51
31
Yes
Yes
Yes
4
check_circle
 
Yes
Yes
Yes
Yes
Yes
Yes
No
30
Yes
Yes
Yes
Yes
Yes
3.5
check_circle
 
Yes
Yes
Yes
Yes
No
No
Yes
Yes
Yes
4.5
check_circle
 
Yes
No
Yes
Yes
Yes
Yes
Yes
Yes
3.5
check_circle
 
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
 
4
check_circle
4
79% of retail CFD accounts lose money
 
78
1996
Yes
Yes
No
No
Yes
Yes
No
No
No
No
No
No
No
No
 
Yes
82
4759
No
Yes
3.5
check_circle
 
1.6
0.85
Yes
3
 
$0.00
Yes
Yes
No
Yes
No
 
No
Yes
Yes
Yes
Yes
No
Yes
 
Yes
Yes
7
51
31
Yes
Yes
Yes
3.5
 
Yes
Yes
Yes
Yes
Yes
Yes
Yes
30
Yes
Yes
Yes
No
No
3.5
 
Yes
Yes
Yes
No
Yes
No
Yes
Yes
Yes
3.5
 
No
No
Yes
No
Yes
No
Yes
No
3
 
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
 
To find the top fx brokers, the team here at ForexBrokers.com collected over 2,200 data points during a several month review of the forex industry. In this fx broker comparison, we will compare LCG 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. OANDA received a rating of 4.00 stars over LCG's 3.00 stars.

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. LCG alongside OANDA are regulated in a major hub. LCG is a publicly traded company while OANDA is not. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. LCG offers its clients access to 82 different currency pairs while OANDA has 71 available pairs, a difference of 11.

To round out our comparison of LCG vs OANDA, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. LCG alongside OANDA 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 LCG and OANDA provide clients with access to 31 total charting tools. Both brokers offer clients access to the same number of indicators (eg, moving averages), 51.

LCG Review
OANDA Review

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

OANDA - CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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