Oanda Vs. SquaredFinancial - Compare and Choose the Right One

Oanda is an international Forex broker founded in 1996 with headquarters in the United States. Oanda specialises exclusively in currency trading solutions for all trader levels. Their greatest selling points are their strong regulatory framework and robust proprietary platforms.

SquaredFinancial is a global brokerage firm founded in 2005 and headquartered in Cyprus that specialises in providing real stocks along with CFDs on all major asset classes paired with MT4 & MT5 platforms.

• Forex traders of all levels (from beginner to advanced)

• Professional high volume traders looking to exploit their competitive commissions in shares
• High volume FX traders looking to open a SquaredElite account with spreads from 0 Pips

• High trustworthiness, regulated by the best regulators in the world
• Fast, simple and professional trading platforms
• Competitive spreads in their currency pairs

• Extensive asset offering (more than 10,000+ products)
• Real stocks are offered along with CFDs
• Very competitive share trading commissions when compared to similar brokers

• Extremely limited offering of assets (104)
• No ability to purchase real stocks or cryptocurrencies, only CFDs

• Platform offering is limited to only MT4 and MT5
• High minimum deposit for SquaredElite account (5,000 €)

• Valid identity document (Passport, ID Card, etc)
• Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

*There is no document verification needed for gross account deposits below US$9,000.

• Valid identity document (Passport, ID Card, etc)
• Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

250 € (SquaredPro Account), 5,000 € SquaredElite Account

All Oanda's assets are CFDs. In the case of commodities, they only have 13, but each commodity has various trading pairs against several different currencies, eg: GOLD/EUR, GOLD/CHF, etc.

SquaredFinancial provides real stocks along with CFDs on the most common asset classes.

Credit and Debit cards are free, when it comes to Bank transfer depends on the account's base currency (eg: the first withdrawal costs $, €, £ 20 and any subsequent ones 35). In the case of SGD, there are no fees.

No, but they do charge currency conversion fees. If your account base currency is GBP and you trade the EUR/USD pair, you'll be paying a conversion fee.

Yes, depending on account type or assets. For account types:

• SquaredPro account has no default commissions
• SquaredElite account has a commission of $5 per lot

For particular assets there are commissions on all accounts, specifically in shares as follows:

• USA shares have a $0.06 per share commission (with a minimum of $2)
• European shares have a 0.15% commission of the transaction value (with a minimum of 5 €)