Skilling and Oanda are Forex and CFD brokers offering online trading services to traders and investors worldwide. Both brokers are regulated by top-tier regulatory authorities. Skilling is regulated by 3 regulatory authorities, including CySEC, FSA, and FCA (recently deregistered from FCA). On the other hand, Oanda is regulated by 8 regulatory authorities, including ASIC, CFTC, IIROC, FCA, PFSA, MAS in Singapore, FSA in Japan, FSC in BVI. These two brokers offer almost similar services. However, each broker has its strengths and weaknesses.
In this article, we will compare Skilling with Oanda regarding trading platforms, regulations, tradable assets, fees, customer support, and overall trading experience score. We will also explore if Skilling is better than Oanda. This comparison lets you understand which broker is better for your trading style and preferences.
Skilling vs Oanda: In a Nutshell
Skilling
Established in 2016 by Scandinavian entrepreneurs, Lennart Clausen, André Lavold, Henrik Ekdahl, and Mikael Harstad, Skilling is a regulated and innovative forex broker. It offers traders access to more than 900 forex and CFDs on its Skilling Trader, cTrader, and MT4 platforms. The broker’s Premium account features competitive spreads and low commissions, ideal for advanced traders. Skilling.com provides forex pairs, CFDs, commodities, shares, indices, gold, silver, oil, bitcoin, and other cryptocurrencies for your personal investment and trading options. Additionally, Skilling provides tools like TradingView, an economic calendar, market news, and detailed analysis to enhance trading decisions.
Skilling Overview
- Founded In: 2016
- Minimum Deposit: 25 € or equivalent
- Maximum Leverage: Up to 1:1000 for non-EU retail traders,1:30 for EU retail traders. 1:200 for professional traders
- Regulations:CySEC, FSA, and FCA (recently deregistered from FCA)
- Trading platform: MT4, MT5, cTrader, Skilling Trader, and Skilling Copy
- Account Types: Offers 3 account types: Standard, Premium, MT4
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, CoinsPaid, Directa24, FasaPay, Klarna, Neteller, Ngan Luong, Pagsmile, PayPal, PayRetailers, PayTrust88, Skrill, Swish, Trustly, UnionPay, WebMoney
- US Traders: Not Accepted
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
- Founder: Dr. Stumm (a computer scientist), and Dr. Olsen (an economist)
- Headquarters: New York, United States
- Trading Instruments: 100+ trading Instruments including forex, indices, shares, commodities, metals, cryptocurrencies, metals
- Minimum Deposit: No minimum Deposit is required. You may deposit as low as $1
- Maximum Leverage: 1:50 (US), 1:30 (EU), 1:200 (other regions)
- Regulations: ASIC, CFTC, IIROC, FCA, PFSA, MAS in Singapore, FSA in Japan, FSC in BVI
- Trading platform: MT4, MT5, fxTrade app, Tradingview
- Account Types: Standard, Elitetrader
- Trading Fees: Spreads starting from 0.6 pips (EUR/USD pair)
- 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
Skilling vs: Oanda Features
Skilling
- Trading Instruments: 800+ forex, CFDs, commodities, shares, indices, and cryptocurrencies
- Maximum leverage: up to 1:1000 for non-EU retail traders,1:30 for EU retail traders. 1:200 for professional traders
- Minimum Deposit: $25 for the Non-EU standard account, $100 for the EU standard account, and $5000 for the premium account.
- Account Types: Offers 3 account types: Standard, Premium MT4
- Fees: starting from 0.8 pips for a standard account,
- Social Copy Trading: Yes,
- Zulutrade: No
- Scalping: Allowed
- News Trading: Allowed
- EA/ Robot Trading: Allowed
Skilling vs Oanda: Pros and Cons
Skilling
- Regulated by CySEC, FSA, and FCA.
- The Maximum leverage is as high as 1:1000 for global entities, 1:30 for EU traders, and 1:200
- Fully Digital Account Opening ( Easy Sign and Verification Process)
- Demo Accounts are Available
- Low Trading fees starting from 0.8 pips for standard accounts, and 0.10 pips for premium accounts
- Offers both leverage and non-leverage cryptos of trading
- Educational resources with a new 'Trading Study Hub' for beginner investors to learn more about investing
- Offers a variety of trading platforms and tools including MT4, Ctrader, Skilling Social Copy Trading, and Skilling own trading platform
- Straightforward fees, no hidden charge
- No deposit and withdrawal fees
- Higher minimum deposit of $100 for Standard accounts, and $5000 for Premium accounts in the EU
- Degegistered from FCA regulations
- Service is not available in many countries including Canada and the US
- 1:2 leverage for cryptocurrencies
- Only Forex and CFDs are offered
Oanda
- 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.
- 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
Skilling vs Oanda: Side-by-Side Comparison
Skilling Vs Oanda: Our Scores and Ratings
We rated both brokers, Skilling and Oanda, 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.
Skilling :
Oanda:
Final Verdict :
Oanda and Skilling are regulated forex and CFD brokers in the industry. They offer similar trading services. Both brokers allow scalping, hedging, EA trading, and Copy trading. The minimum order size for both of them is 0.01.
However, there are a few areas where you may find some differences. For example, the minimum deposit for Oanda is $0., whereas the minimum deposit for Skilling is 25 € or equivalent. Additionally, the maximum leverage for Oanda is 1:50 (US), 1:30 (EU), 1:200 (other regions). In contrast, the maximum leverage for Skilling is up to 1:1000 for non-EU retail traders, 1:30 for EU retail traders. 1:200 for professional traders. Oanda offers passive investment programs like MAM and PAMM, while Skilling does not have any passive investment programs.
Our score for Oanda is 8.8, and for Skilling, it is 8.8 So, if you are looking for the most trusted forex brokers with MAM and PAMM services, you may choose Oanda. However, if you prefer another forex brokers that offer similar services, you may choose Skilling.
