OANDA
Zacks Trade
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Overview
OANDA was founded in 1996 and is headquartered in United States, Canada, while Zacks Trade was established in 2008 and is based in United States. OANDA holds licences including Financial Conduct Authority (FCA), while Zacks Trade is regulated by Unregulated among others. OANDA serves 10,000+ clients worldwide; Zacks Trade has 10,000+. The minimum deposit is $1 at OANDA and $2500 at Zacks Trade.
| Feature | OANDA | Zacks Trade |
|---|---|---|
| Min. Deposit | $1 | $2500 |
| Regulation | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC) | Unregulated |
| Founded | 1996 | 2008 |
| Country | United States, Canada | United States |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between OANDA and Zacks Trade, directly affecting your bottom line as a trader. OANDA has a lower barrier to entry with a minimum deposit of $1 (vs $2500 at Zacks Trade). Neither broker charges withdrawal fees. Zacks Trade charges deposit fees; OANDA does not. Overall, OANDA scores higher on fees in our assessment.
| Feature | OANDA | Zacks Trade |
|---|---|---|
| Min. Deposit | $1 | $2500 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | Yes |
Platforms
OANDA offers MT4, MT5, cTrader, while Zacks Trade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. The two brokers are closely matched on platform offering.
| Feature | OANDA | Zacks Trade |
|---|---|---|
| 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 | Android,iPhone/iPad,Tablet |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how OANDA and Zacks Trade 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. Zacks Trade scores higher overall in education and research.
| Feature | OANDA | Zacks Trade |
|---|---|---|
| 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 Zacks Trade supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | OANDA | Zacks Trade |
|---|---|---|
| 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 Zacks Trade 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 | Zacks Trade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |