OANDA
Virtual Brokers
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Overview
OANDA was founded in 1996 and is headquartered in United States, Canada, while Virtual Brokers was established in 2008 and is based in Canada. OANDA holds licences including Financial Conduct Authority (FCA), while Virtual Brokers is regulated by The Investment Industry Regulatory Organization of Canada (IIROC) among others. OANDA serves 10,000+ clients worldwide; Virtual Brokers has 10,000+. The minimum deposit is $1 at OANDA and $1000 at Virtual Brokers.
| Feature | OANDA | Virtual Brokers |
|---|---|---|
| Min. Deposit | $1 | $1000 |
| Regulation | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC) | The Investment Industry Regulatory Organization of Canada (IIROC), Canadian Investor Protection Fund (CIPF) |
| Founded | 1996 | 2008 |
| Country | United States, Canada | Canada |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between OANDA and Virtual Brokers, directly affecting your bottom line as a trader. OANDA has a lower barrier to entry with a minimum deposit of $1 (vs $1000 at Virtual Brokers). Virtual Brokers charges withdrawal fees while OANDA does not, giving OANDA an edge for frequent withdrawers. Virtual Brokers charges deposit fees; OANDA does not. Overall, OANDA scores higher on fees in our assessment.
| Feature | OANDA | Virtual Brokers |
|---|---|---|
| Min. Deposit | $1 | $1000 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
OANDA offers MT4, MT5, cTrader, while Virtual Brokers supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Virtual Brokers supports social and copy trading features, which OANDA does not offer. The two brokers are closely matched on platform offering.
| Feature | OANDA | Virtual Brokers |
|---|---|---|
| MT4 | Yes | Yes |
| 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,Desktop,iPhone/iOS |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how OANDA and Virtual Brokers 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. Virtual Brokers scores higher overall in education and research.
| Feature | OANDA | Virtual Brokers |
|---|---|---|
| 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 Virtual Brokers supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | OANDA | Virtual Brokers |
|---|---|---|
| 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 OANDA and Virtual Brokers 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 | OANDA | Virtual Brokers |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |