Differentiate OANDA Vs. Firstrade for Trading Services, Features & Charges

OANDA

OANDA is a trusted broker that provides Forex and CFD traders to trade in FX pairs and CFDs. The broker is known for offering high-quality market research. OANDA is regulated in six Tier-1 jurisdictions which make it one of the safest brokers for forex and CFDs trading. The broker offers research tools, market analysis, and news which are very useful for the investors.

Different OANDA Platforms

Firstrade

Firstrade was founded in 1985 in New York. Firstrade has started offering $0 commission for options and stock trades and it is a good choice for stock and options traders who are looking for streamlined order entry with advanced option spread trading at low costs. Along with low cost, Firstrade is also known for its unique securities lending program, which is apt for investors who are interested in earning extra income by allowing the other financial institutions to lend their stocks.

Broker Comparison

 

OANDA

Firstrade

Features

  • Founded in 1996
  • Tier-1 Licenses
  • Authorized in the European Union
  • Founded in 1985
  • Unique securities lending program for extra income

Trading Pairs

  • Forex: Spot Trading
  • Social Trading/Copy Trading
  • Currency Pairs (Total Forex Pairs): 71
  • CFDs – Total Offered: 53
  • Cryptocurrency traded as CFD
  • Indices
  • Energy
  • Metals
  • Stock Trading
  • OTCBB
  • Options Trading
  • Complex Options Max Legs, 4
  • All Commission-free ETFs
  • Mutual Funds (No Load): 10746
  • Mutual Funds (Total): 14939
  • Bonds (US Treasury)
  • Bonds (Corporate)
  • Bonds (Municipal)

Trading Services

  • Trading – Forex
  • Trading – CFDs
  • Alerts – Basic Fields
  • Watch List
  • Charting – Indicators / Studies: 33
  • Charting – Draw Trend Lines
  • Charting – Trend Lines Moveable
  • Charting – Multiple Time Frames
  • Charting – Drawings Autosave
  • Forex Calendar
  • Trading – Stocks
  • Trading – After Hours
  • Trading – Simple Options
  • Trading – Complex Options Touch/Face ID

Trading Platforms

  • Proprietary Platform
  • Desktop Platform (Windows)
  • Android App
  • Apple iOS App
  • Web Platform
  • Social Trading/Copy Trading
  • MetaTrader 4 (MT4)
  • Web Platform
  • Watch Lists – Total Fields 47
  • Heat Mapping
  • iOS App
  • Android App

Charges

  • No inactivity fees
  • No commission
  • No deposit fees
  • Withdrawal fee varies
  • Average Spread EUR/USD – Standard -1.4 (as of Q3 2018)
  • Active Trader or VIP Discounts – 1.4 (as of Oct 19)
  • Minimum deposit: $0.00
  • Stock trade fee (Per trade) – $0.00
  • ETF trade fee – $0.00
  • Options base fee – $0.00
  • Options per contract fee – $0.00
  • Mutual Fund trade fee – $0.00
  • Broker Assisted trade fee – $19.95

Both Platform Research

  • Daily Market Commentary
  • Forex News (Top-Tier Sources)
  • Weekly Webinars
  • AutoChartist
  • Social Sentiment – Currency Pairs
  • Economic Calendar
  • Research – Stocks
  • Research – ETFs
  • Research – Mutual Funds
  • Research – Fixed Income
  • Research – Pink Sheets/OTCBB
  • Screener – Stocks
  • Screener – Mutual Funds
  • Screener – ETFs
  • Screener – Bonds
  • Misc – Portfolio Allocation

Deposit and Withdrawal methods

  • Minimum Initial Deposit: $0.00
  • Bank Wire (Deposit/Withdraw)
  • Visa/Mastercard (Credit/Debit)
  • Bank Transfer (Deposit/Withdraw)
  • Deposit & Withdrawal Fee: $0

Education

  • Education – Forex
  • Client Webinars
  • Client Webinars (Archived)
  • Videos: Beginner Trading Videos
  • Videos: Advanced Trading Videos
  • Investor Dictionary (Glossary)
  • Education (Stocks)
  • Education (Options)
  • Education (Retirement)
  • Videos Webinars (Monthly average) – 6
  • Webinars (Archived)

Customer Support

  • Live Chat
  • Email
  • FAQs
  • The country-wise customer service facility
  • Support in traditional Chinese.
  • Support available during market hours.
  • Call back facility
Firstrade Advantages

Conclusion

OANDA and Firstrade both are decent trading platforms offering a variety of trading tools and informative material. OANDA is suitable for the traders who are looking for low-cost trading and Firstrade is ideal for the traders who want an extra income from its Unique Securities Lending Program.