OANDA
scotia itrade
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Overview
OANDA was founded in 1996 and is headquartered in United States, Canada, while scotia itrade was established in 2012 and is based in UK. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. OANDA serves 10,000+ clients worldwide; scotia itrade has 10,000+. The minimum deposit is $1 at OANDA and $250 at scotia itrade.
| Feature | OANDA | scotia itrade |
|---|---|---|
| Min. Deposit | $1 | $250 |
| Regulation | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F303 |
| Founded | 1996 | 2012 |
| Country | United States, Canada | UK |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between OANDA and scotia itrade, directly affecting your bottom line as a trader. OANDA has a lower barrier to entry with a minimum deposit of $1 (vs $250 at scotia itrade). Neither broker charges withdrawal fees. Overall, OANDA scores higher on fees in our assessment.
| Feature | OANDA | scotia itrade |
|---|---|---|
| Min. Deposit | $1 | $250 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
OANDA offers MT4, MT5, cTrader, while scotia itrade supports MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. scotia itrade supports social and copy trading features, which OANDA does not offer. OANDA edges ahead on platform breadth and functionality in our scoring.
| Feature | OANDA | scotia itrade |
|---|---|---|
| MT4 | Yes | No |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, OANDA Desktop, OANDA Web, OANDA Mobile | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how OANDA and scotia itrade 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. scotia itrade scores higher overall in education and research.
| Feature | OANDA | scotia itrade |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. OANDA accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while scotia itrade supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). scotia itrade uniquely supports PayPal and Skrill and Neteller among the two brokers. scotia itrade scores higher on deposit and withdrawal flexibility.
| Feature | OANDA | scotia itrade |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both OANDA and scotia itrade offer live chat support. Both provide phone support. Email support is available at both brokers. OANDA supports 2 languages and scotia itrade supports 8, giving scotia itrade broader global reach. Both brokers are comparable on support quality.
| Feature | OANDA | scotia itrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |