Finmax
OANDA
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Overview
Finmax was founded in 2008 and is headquartered in Bulgaria, while OANDA was established in 1996 and is based in United States, Canada. Finmax holds licences including Financial Services Authority (FSA), while OANDA is regulated by Financial Conduct Authority (FCA) among others. Finmax serves 10,000+ clients worldwide; OANDA has 10,000+. The minimum deposit is $0 at Finmax and $1 at OANDA.
| Feature | Finmax | OANDA |
|---|---|---|
| Min. Deposit | $0 | $1 |
| Regulation | Financial Services Authority (FSA) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC) |
| Founded | 2008 | 1996 |
| Country | Bulgaria | United States, Canada |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Finmax and OANDA, directly affecting your bottom line as a trader. Finmax has a lower barrier to entry with a minimum deposit of $0 (vs $1 at OANDA). Neither broker charges withdrawal fees. Finmax applies inactivity fees on dormant accounts; OANDA does not. The two brokers are broadly comparable on fee structure.
| Feature | Finmax | OANDA |
|---|---|---|
| Min. Deposit | $0 | $1 |
| Withdrawal Fees | No | No |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Finmax offers MT4, MT5, cTrader, while OANDA supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. The two brokers are closely matched on platform offering.
| Feature | Finmax | OANDA |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4,MT5 | MT4, OANDA Desktop, OANDA Web, OANDA Mobile |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Finmax and OANDA compare. OANDA runs regular live webinars; Finmax does not. OANDA has a video library; Finmax does not. OANDA publishes daily market commentary; Finmax does not. OANDA integrates third-party research tools (Trading Central); Finmax does not. OANDA maintains an archive of past webinars for on-demand viewing. OANDA scores higher overall in education and research.
| Feature | Finmax | OANDA |
|---|---|---|
| Forex Education | No | No |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | No | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Finmax accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while OANDA supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Finmax | OANDA |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Finmax and OANDA offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 2 languages. Both brokers are comparable on support quality.
| Feature | Finmax | OANDA |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |