LQDFX is a straight-through processing (STP) broker based in the Marshall Islands. The offshore trading firm offers competitive spreads from 0.0 pips, free deposits, 24/5 support and access to the hugely popular MetaTrader 4 platform. LQDFX also runs a competitive bonus program for short-term traders.
OANDA is an award-winning global broker, established in 1996. The hugely respected brand offers competitive trading accounts and serves clients from 196 countries. It remains a popular option with both beginners and experienced traders thanks to its user-friendly and sophisticated web platform, no minimum deposit and premium currency products and services. The company is also overseen by reputable regulators, including the FCA, ASIC and CIRO.
Pros
There are multiple STP account types with fast execution speeds, plus an Islamic swap-free option and PAMM accounts
The broker offers the industry favorite MT4 platform and mobile app, with 30 technical indicators for chart analysis
The $20 minimum initial deposit is accessible for beginners, and the Micro account will serve those looking to trade in smaller volumes
Tight forex spreads from 0.0 are available in the raw spread account and the $3.50 per lot commissions are in line with competitors
Leverage is available up to 1:1000 for experienced traders
The OANDA Trade web platform serves serious traders, with 100+ technical indicators, an economic overlay and a Dow Jones news feed
OANDA recently introduced a prop trading service, OANDA Labs Trader, offering a 75% profit share to skilled traders
The guaranteed stop loss order (GSLO) is a useful risk management tool not available at many alternatives
There are no restrictions on short-term trading strategies with scalping, hedging and netting permitted
OANDA has enhanced its suite of stocks, now providing exposure to over 2,200 US and European shares
With 68 forex pairs and access to a premium MT4 upgrade, the broker will serve active forex traders
Oversight from tier-one regulators like the FCA and ASIC makes the broker reliable and trustworthy
The $0 minimum deposit will appeal to newer traders
Spreads are tight and there are zero hidden fees
Cons
There are no additional charting platforms available, such as MT5 or a proprietary solution
The lack of regulatory oversight is a concern, although the broker does claim to use segregated accounts and balance protection
It's a shame that there's no copy trading platform for beginners or experienced strategy providers
Market research tools and educational resources are very limited compared to top brands like IG
The range of payment methods trail competitors, only offering a handful vs the 10+ available at alternatives like AvaTrade
It's a shame that social and copy trading tools aren't supported for traders who want to explore other ways to trade
High-volume traders get limited fee rebates or perks compared to leading brands
Weekend customer support and extended hours trading aren't available
Awards
Best ECN Broker 2017
Most Reliable Broker 2017
Best Trading Tools winner 2021 - Online Personal Wealth Awards
LQDFX offers a modest collection of CFDs covering currencies, metals, stocks, indices, commodities and cryptos. The 50+ technical indicators and drawing tools pre-included in MT4 will facilitate both short-term and long-term strategies.
You can speculate on popular financial assets covering forex, commodities, indices, metals and bonds. You can get started with $0 minimum deposit, making the broker a good pick for beginners. There’s also over 130 technical indicators available collectively in the MT4 and OANDA Trade platforms.
Leverage
1:1000
1:30
FTSE Spread
0.90
1.0
GBPUSD Spread<
0.1
1.4
Oil Spread
0.05
3.0
Stocks Spread
0.05 (Apple Inc)
12 (Apple Inc)
Forex
LQDFX offers an extensive list of 70+ currency pairs, more than most alternatives. Spreads are low, coming in at 0.2 pips for EUR/GBP during peak market hours and the low/no commission models will suit beginners and high-volume forex traders.
OANDA offers 68 currency pairs, which is above the industry average. You can speculate on majors, minors and exotics, with spreads from 0.8 pips on popular pairs. There are no commissions and leverage is available up to 1:200. Average execution speeds are fast based on tests, at 12 milliseconds.
Assets
71
68
GBPUSD Spread
0.1
1.4
EURUSD Spread
0.1
0.8
EURGBP Spread
0.5
0.9
Cryptocurrency
You can trade 16 well-known cryptos including Bitcoin, the majority paired with USD or EUR. Spreads are low, starting from 1.02 pips. You can also deposit instantly via crypto with minimum deposits from $20 and no fees.
OANDA offers trading on leading cryptocurrencies, including Bitcoin. You can place trades in the app hassle-free and practice in the unlimited demo account. The broker offers guaranteed stop-loss orders to help protect you against crypto market volatility.