freetrade
OANDA
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Overview
freetrade was founded in 2016 and is headquartered in United Kingdom, while OANDA was established in 1996 and is based in United States, Canada. freetrade holds licences including Financial Conduct Authority. Registered in England and Wales (no. 09797821), while OANDA is regulated by Financial Conduct Authority (FCA) among others. freetrade serves 890,000+ clients worldwide; OANDA has 10,000+. The minimum deposit is $0 at freetrade and $1 at OANDA.
| Feature | freetrade | OANDA |
|---|---|---|
| Min. Deposit | $0 | $1 |
| Regulation | Financial Conduct Authority. Registered in England and Wales (no. 09797821) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC) |
| Founded | 2016 | 1996 |
| Country | United Kingdom | United States, Canada |
| Clients | 890,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between freetrade and OANDA, directly affecting your bottom line as a trader. freetrade has a lower barrier to entry with a minimum deposit of $0 (vs $1 at OANDA). Neither broker charges withdrawal fees. The two brokers are broadly comparable on fee structure.
| Feature | freetrade | OANDA |
|---|---|---|
| Min. Deposit | $0 | $1 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
freetrade offers MT4, MT5, cTrader, a proprietary platform, while OANDA supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. freetrade supports social and copy trading features, which OANDA does not offer. freetrade edges ahead on platform breadth and functionality in our scoring.
| Feature | freetrade | 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, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | 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 freetrade and OANDA compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. freetrade scores higher overall in education and research.
| Feature | freetrade | OANDA |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. freetrade accepts 5 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Skrill, Neteller), while OANDA supports 2 (bank transfer, credit/debit card). freetrade uniquely supports PayPal and Skrill and Neteller among the two brokers. freetrade scores higher on deposit and withdrawal flexibility.
| Feature | freetrade | OANDA |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | No |
| Skrill | Yes | No |
| Neteller | Yes | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both freetrade and OANDA offer live chat support. Both provide phone support. Email support is available at both brokers. freetrade supports 8 languages and OANDA supports 2, giving freetrade broader global reach. Both brokers are comparable on support quality.
| Feature | freetrade | OANDA |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic | English, and Chinese |