Forex Financial Services
OANDA
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Overview
Forex Financial Services was founded in 2008 and is headquartered in Australia, while OANDA was established in 1996 and is based in United States, Canada. Forex Financial Services holds licences including Australian Securities and investment Commission (ASIC), while OANDA is regulated by Financial Conduct Authority (FCA) among others. Forex Financial Services serves 10,000+ clients worldwide; OANDA has 10,000+. The minimum deposit is $2500 at Forex Financial Services and $1 at OANDA.
| Feature | Forex Financial Services | OANDA |
|---|---|---|
| Min. Deposit | $2500 | $1 |
| Regulation | Australian Securities and investment Commission (ASIC) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC) |
| Founded | 2008 | 1996 |
| Country | Australia | United States, Canada |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Forex Financial Services and OANDA, directly affecting your bottom line as a trader. OANDA has a lower barrier to entry with a minimum deposit of $1 (vs $2500 at Forex Financial Services). Neither broker charges withdrawal fees. Forex Financial Services charges deposit fees; OANDA does not. Overall, OANDA scores higher on fees in our assessment.
| Feature | Forex Financial Services | OANDA |
|---|---|---|
| Min. Deposit | $2500 | $1 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | No | No |
Platforms
Forex Financial Services offers MT4, MT5, cTrader, while OANDA supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Forex Financial Services supports social and copy trading features, which OANDA does not offer. The two brokers are closely matched on platform offering.
| Feature | Forex Financial Services | 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 | 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 Forex Financial Services and OANDA compare. OANDA runs regular live webinars; Forex Financial Services does not. OANDA has a video library; Forex Financial Services does not. OANDA publishes daily market commentary; Forex Financial Services does not. OANDA integrates third-party research tools (Trading Central); Forex Financial Services does not. OANDA maintains an archive of past webinars for on-demand viewing. OANDA scores higher overall in education and research.
| Feature | Forex Financial Services | 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. Forex Financial Services 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 | Forex Financial Services | 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 Forex Financial Services 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 | Forex Financial Services | OANDA |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |