Oanda vs World Forex Comparison
We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support.
Comparison Table of Oanda and World Forex
| Broker | Oanda | World Forex |
|---|---|---|
| Rating | 4.3/5 | 4/5 |
| Foundation Year | 2001 | 2007 |
| Regulated in Countries | United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland | Saint Vincent and the Grenadines, Vanuatu |
| Minimum Deposit |
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| Spread | from 0.5 points | from 0 points |
| Max Leverage | 1:200 | 1:1000 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | Oanda Review | World Forex Review |
Oanda is suitable for beginners and experienced traders, thanks to quality analytics and various educational materials.
World Forex is suitable for beginners and experienced traders thanks to narrow spreads and a wide selection of trading accounts.
Oanda Review
Oanda is an excellent choice for traders seeking a reliable and regulated broker with competitive spreads and various trading assets.
With quality analytics and diverse educational materials, Oanda suits beginners and experienced traders.
Pros and Cons of Oanda
Pros
- Tight spreads.
- Diverse markets and products.
- Advanced trading platforms.
- Quality analytics.
- Extensive learning section.
Cons
- Limited trading account types.
- Inactivity fee.
- High swaps.
Oanda is in the top 10 of the following ratings:
World Forex Review
World Forex offers traders a variety of trading accounts and competitive conditions with low spreads, making it an attractive choice for clients interested in saving on trading costs. Support for the popular MetaTrader 4 and MetaTrader 5 trading platforms guarantees a high level of convenience and functionality, while a large selection of payment systems and the broker's coverage of deposit fees simplify financial transactions.
WForex is best suited for active traders who prefer short-term trading and can take advantage of low spreads and a wide choice of payment systems. The broker will be less attractive for beginners due to the lack of training resources and for those looking for long-term investment opportunities due to high swaps.
Pros and Cons of World Forex
Pros
- Various trading accounts.
- Low spreads.
- Availability of popular trading platforms.
- A wide range of payment systems and broker-covered commissions on deposits.
Cons
- Limited selection of educational materials.
- There is an absence of soft commodities and indices.
- High swaps.
World Forex is in the top 10 of the following ratings:
Reliability
| Broker | Oanda | World Forex |
|---|---|---|
| Reliability | 5/5 | 3.6/5 |
| Foundation Year | 2001 | 2007 |
| Regulated in Countries | United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland | Saint Vincent and the Grenadines, Vanuatu |
| Regulators | NFA NFA CFTC CFTC ASIC ASIC CIRO CIRO FCA FCA JFSA JFSA BVIFSC BVIFSC MAS MAS KNF KNF | SVGFSA SVGFSA VFSC VFSC - |
Oanda
Oanda demonstrates a high level of reliability, evidenced by licenses from the world's leading regulators.
World Forex
World Forex is a member of the Financial Commission (FinaCom), and the quality of order execution on the broker's platform is analyzed monthly by the VerifyMyTrade service. However, WForex is regulated in offshore jurisdictions.
Pros
- Monthly audit and certification of orders.
- Trader protection through a compensation fund.
Cons
- Regulated in offshore jurisdictions.
Account Opening
| Broker | Oanda | World Forex |
|---|---|---|
| Account Opening | 4.5/5 | 5/5 |
| Minimum Deposit |
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Oanda
Oanda offers a straightforward and structured registration process, ensuring convenience for clients.
Pros
- Clearly structured registration process.
- No minimum deposit, offering flexibility for traders.
Cons
- Additional documents may be required in some cases.
- Document verification can take from 1 to 2 working days.
World Forex
Considering that a minimal amount of information is required for registration and the verification process is standard, it can be said that the account opening process at WorldForex is quite simple and convenient.
Account Types
| Broker | Oanda | World Forex |
|---|---|---|
| Account Types | 3/5 | 5/5 |
| Trading Accounts |
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| Minimum Deposit |
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| Spread | from 0.5 points | from 0 points |
| Max Leverage | 1:200 | 1:1000 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Demo Account | ||
| Swap-free Account |
Oanda
Oanda provides various trading accounts, but some specialized types are missing.
Pros
- Standard accounts are available.
- Demo accounts are offered.
- Swap Free accounts are available for traders following Islamic principles.
Cons
- Cent accounts are missing.
- No fixed spread accounts.
- No investment accounts are available.
World Forex
WorldForex offers a variety of account types, meeting the needs of different traders, making it a versatile choice.
Pros
- Wide selection of account types, including specialized accounts.
- Availability of a demo account and copy trading services.
Commissions
| Broker | Oanda | World Forex |
|---|---|---|
| Commissions | 3.5/5 | 3.5/5 |
| Spread | from 0.5 points | from 0 points |
| Average Spread (EURUSD) | 0.8 | |
| Commission per Lot |
Oanda
Oanda's fees are moderate, making this broker competitive.
Pros
- No fees for deposits and withdrawals.
- Low spreads on major currency pairs.
Cons
- Inactivity fee is charged.
- Swaps may be high for some currency pairs.
World Forex
Low spreads make trading accessible, but relatively high swaps and standard margin rates can increase the overall cost of trading, especially for traders using long-term trading strategies.
Deposit and Withdrawal
| Broker | Oanda | World Forex |
|---|---|---|
| Rating | 4/5 | 4.5/5 |
| Account Funding Methods |
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Oanda
Oanda offers flexible conditions for depositing and withdrawing funds, but payment system commissions and currency conversion costs may apply.
Pros
- The broker does not charge a fee for deposits and withdrawals.
- A wide selection of payment systems is available.
- No restrictions on the amounts of deposits and withdrawals.
Cons
- High commission fees for certain methods by payment systems.
- Withdrawal request processing time may be long.
- Cryptocurrencies are not available as a payment method.
World Forex
WorldForex provides convenient and fairly quick methods for depositing and withdrawing funds, but high commissions for withdrawals by payment systems can sometimes be an issue for clients.
Markets and Products
| Broker | Oanda | World Forex |
|---|---|---|
| Markets and Products | 4.4/5 | 3/5 |
| Forex | 48 | 55 |
| Precious Metals | 3 | 4 |
| Energy Carriers | 3 | 2 |
| Soft Commodities | 4 | - |
| Indices | 18 | - |
| Stocks | 1607 | 46 |
| Cryptocurrency | 18 | 17 |
Oanda
Oanda offers an extensive set of markets and products, making it a versatile choice for traders of different levels.
Pros
- A wide range of currency pairs.
- A large selection of stocks and indices.
- Access to cryptocurrency trading.
Cons
- Maximum leverage is only up to 1:200.
World Forex
The World Forex product range is limited but covers the main asset categories.
Pros
- A large number of currency pairs.
- Spot metals and oil.
- Availability of CFDs on cryptocurrencies.
Cons
- No soft commodities and indices.
- Relatively small number of CFDs on stocks.
- Lack of opportunities for extended portfolio diversification.
Trading Platforms
| Broker | Oanda | World Forex |
|---|---|---|
| Rating | 5/5 | 4.5/5 |
| Trading Platforms |
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Oanda
Oanda provides high-quality trading platforms with deep functionality and integration with TradingView.
Pros
- Access to classic platforms MT4 and MT5.
- The fxTrade mobile app with integration with MT5.
- Integration with TradingView.
Cons
- No MetaTrader alternatives for desktop devices.
World Forex
World Forex trading platforms offer a wide range of functionalities and ease of use, although the broker lacks an alternative to MetaTrader for mobile and desktop devices.
Analytics
| Broker | Oanda | World Forex |
|---|---|---|
| Rating | 5/5 | 4.5/5 |
Oanda
The Oanda broker's analytical section offers many tools that help traders make informed decisions.
World Forex
World Forex offers a decent set of tools for market analysis. However, the analytics section could be more diverse and include additional analytical tools or signals to better support traders.
Education
| Broker | Oanda | World Forex |
|---|---|---|
| Rating | 4.5/5 | 2/5 |
Oanda
Oanda provides an extensive range of educational resources, catering to new and experienced traders, focusing on leveraged trading.
Pros
- Comprehensive coverage of fundamental and technical analysis.
- Variety of resources including webinars, workshops, and live market analysis.
- Free access to premium content for live account holders.
Cons
- Some advanced topics may not be covered in depth.
World Forex
The education section of the World Forex broker provides basic information for beginners, but is limited in scope and learning formats. Expanding and diversifying educational materials could improve its usefulness and appeal to traders.
Customer Support
| Broker | Oanda | World Forex |
|---|---|---|
| Rating | 5/5 | 4.5/5 |
| Email Support |
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| Hotline Phones |
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| Social Media |
Facebook
Twitter
LinkedIn
YouTube
Instagram
Telegram
VK
OK
TradingViewOanda
Oanda's technical support provides extensive communication options and round-the-clock service, ensuring the professionalism and efficiency of the solutions provided.
World Forex
The technical support section of World Forex offers a variety of communication channels, ensuring accessibility and convenience for clients.
