Oanda vs TD Ameritrade | Our Analysis & Comparison in 2023

Published :
Updated :
Written by

Oanda vs TD Ameritrade: In a Nutshell

Oanda

Founded by Drs. Stumm and Olsen in the USA in 1996, Oanda is one of the oldest and most experienced forex brokers in the world. The broker expanded into Asia in 2007, opened its London office in 2011, and its Sydney office in 2014. On its platforms, you can trade over 3000 forex, CFDs, and even real stocks.

Oanda Overview
  • Founded In: 1996
  • Minimum Deposit: None
  • Maximum Leverage: 500:1
  • Regulations: ASIC, CFTC, FCA,PFSA,MAS, FSA
  • Trading platform: MT4, MT5, fxTrade app, Tradingview
  • Account Types: Standard , Elitetrader
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, ACH Payments (echeck), BPAY, CHAPS, Check, DBS Bill Payment, Local Bank Deposits, Local Bank Transfers, Neteller, Payment Asia, PayNow, PayPal, SEPA Credit Transfer (SCT), Skrill
  • US Traders:  Accepted 

TD Ameritrade

Founded in 1971 as Ameritrade, TD Ameritrade is a well-known American online brokerage firm that offers a wide range of financial services including stocks, Forex,  options, ETFs Mutual Funds, fixed income, and other investment products  TD Ameritrade went through a couple of acquisitions and mergers. In 2006, it acquired the US operations of TD Waterhouse, followed by the acquisition of Scottrade in 2017. Finally, in 2020, Charles Schwab Corporation acquired TD Ameritrade. TD Ameritrade provides access to both US and non-US traders to trade on this platform. 

TD Ameritrade At a Glance

TD Ameritrade At a Glance
  • Founded In: 1978
  • Minimum Deposit: $0
  • Maximum Leverage: 1:50
  • Regulations: SEC , FINRA , SIPC
  • Trading platform: Web Platforms, thinkorswim desktop, thinkorswim® web, Mobile Trading
  • Account Types: Standard, Retirement, Education and Specialty accounts.
  • Payment Options: Bank Wire (BankTransfer/SWIFT), ACH (Automated Clearing House), Check, Physical Stock Certificates, Transfer from Existing Broker
  • US Clients : Accepted

Oanda vs TD Ameritrade: Pros and Cons

Oanda

Pros
  • Regulated by the CySEC, FCA, CFTC, JFSA, IIROC, ASIC, MAS and FSC BVI
  • Clients can trade over 1800 forex/CFDs and over 2000 real stocks.
  • Platforms: MT4, MT5, and Oanda mobile apps on iOS and Android.
  • Trading tools provided are MetaTrader premium tools, Autochartist, Market pulse analysis, etc.
  • Customer support is provided in multiple languages and via different channels.
  • Fast and user-friendly account opening
  • The TradingView platform is available, alongside several VPS services for MT4 hosting.
Cons
  • Bank withdrawals incur a fee which is transferred to the trader.
  • Premium core accounts require a minimum balance of $20,000
  • Inactivity fees are charged from dormant accounts.
  • No account protection for U.S. clients
  • No guaranteed stop-losses for U.S. or U.K. clients
  • Traders in the U.S. cannot access single-stock CFDs
  • No cent accounts, bonus programme for beginner traders

TD Ameritrade

Pros
  • ETF, non-penny stock, and options trades are commission-free
  • Expansive trading tools and resources for all types of investors
  • Low trading fees (free stock and ETF trading)
  • Regulated by FINRA, SIBC 
  • Part of Charles Schwab Corporation since October 2020, with a combined 28 million clients and $6 trillion in assets.
  • The company does not charge fees for trading in American and Canadian stocks, options, and ETFs.
  • There is a large selection of investments from which to choose
Cons
  • Broker-assisted trades are somewhat costly
  • No direct crypto Trading 
  • Forex trading via thinkorswim, a trading platform where you can trade forex
  • No MT4, MT5, cTraders  trading platforms are offered 
  • Fractional shares are not offered
  • Accounts mostly limited to US residents
  • As a U.S.-only forex broker, TD Ameritrade does not offer copy trading or MetaTrader (MT4).

Oanda vs TD Ameritrade: Side-by-Side Comparison

Oanda
TD Ameritrade
Product
Founded In
Founded In
1996
1978
Founded By
Founded By
Dr. Michael Stumm & Dr. Richard Olsen
John Joseph Ricketts
Headquarters
Headquarters
New York, New York, United States
Omaha, United State
Regulations
Regulations
ASIC, CFTC, FCA,PFSA,MAS, FSA
SEC , CFTC
Min Deposit
Min Deposit
None
None
Max Leverage
Max Leverage
500:1
50:1
Tradable Assets
Tradable Assets
Forex, Indices , Metals , Shares, Commodities, Cryptocurrencies
Stocks,Options,ETFs,Mutual Funds,Futures,Forex,Margin Trading,Bonds & Fixed Income.
Fees
Fees
Spread from 0.8 pips
Spread from
Platforms and Tools
Platforms and Tools
MT4, MT5, fxTrade app
Web ,Mobile , thinkorswim Trading Platforms
US Traders
US Traders
Allowed
Allowed

Oanda Vs TD Ameritrade : Our Scores and Ratings

We rated both brokers, Oanda and TD Ameritrade, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.

Oanda :

8.8
Total Score
Regulation and Security (40%)10
Fees and Commissions (20%)7
Trading (15%)8
Trading tools (10%)9
Customer Support (10%)9.2
Trading Education (5%)7

TD Ameritrade

8.8
TD Ameritrade Score
Regulation and Security (40%)9
Fees and Commissions (20%)9
Trading (15%)9
Trading tools (10%)8
Customer Support (10%)8
Trading Education (5%)7

Final Verdict :

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

DisclosureAt Brokersway we're committed to delivering unbiased information. our opinions are our own and are not influenced by the payment we receive from our advertising partners. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money.

Leave a Comment