Oanda
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78.3% of retail CFD accounts lose money.

Vs.

SquaredFinancial
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69.9% of retail CFD accounts lose money.

Oanda Vs. SquaredFinancial - Compare Trustworthiness, Capabilities, Fees and Legitimacy

Updated Jan 19 2024

Visit

78.3% of retail CFD accounts lose money.

Visit

69.9% of retail CFD accounts lose money.

Overview

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.

Best For
  • 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
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

7

Other Licenses

1

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

0

Other Licenses

2

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • CFTC (U.S)
  • NFA (U.S)
  • ASIC (Australia)
  • FCA (UK)
  • MAS (Singapore)
  • IIROC (Canada)
  • FFAJ (Japan)
  • BVI (British Virgin Islands)
  • CySec (Cyprus)
  • FSAS (Seychelles)
The Good
  • 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
The Bad
  • 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 €)
Status
Operational Operational
Recent News

No fresh news at the moment. Check again soon!

No fresh news at the moment. Check again soon!

Key Data
⌛ Account Opening Time
1 day 1 day
📋 Documents Required
  • 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.

  • 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.

📍 Year Founded
1996 2005
💳 Minimum Deposit Range
0 250 € (SquaredPro Account), 5,000 € SquaredElite Account
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Paypal
  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • Skrill
  • Instatransfer
💵 Account Base Currencies
9 - USD, EUR, GBP, SGD, CHF, JPY, AUD, CAD, HKD. 5 - EUR, USD, GBP, CHF, ZAR.
🗽 Available to U.S Citizens
Yes No
❌ Restricted Countries

AF, AL, BS, BB, BW, BF, BI, KH, KY, CF, TD, CD, CG, CU, ER, ET, GH, IR, IQ, JM, KP, LY, MU, MN, MA, MM, NI, NG, PK, PS, PA, SN, SL, SO, SS, SD, SY, TT, TN, UG, VU, YE, ZW.

US, CA, IR, SY.

📊 STP Account
No Yes
📊 DMA Account
No Yes
📊 ECN Account
Yes Yes
Banking License
No No
Debit Card
No No
Assets
📚 Assets Type
CFDs Hybrid
Total Asset Offering
107 17,101
Exchange Access
0 0
📙 Real Stocks
0 8,000
📙 Stock CFDs
0 8,000
📘 Currency Pairs
0 0
📘 Currency Pair CFDs
68 40
📗 Commodities
0 0
📗 Commodities CFDs
13 5
📕 Indices
0 0
📕 Indices CFDs
16 15
📔 ETFs
0 0
📔 ETFs CFDs
4 1,000
💸 Cryptocurrencies
0 0
💸 Cryptocurrency CFDs
0 25
📒 Bonds
0 0
📒 Bonds CFDs
6 0
📓 Options
0 0
📓 Options CFDs
0 0
📗 Futures
0 0
📗 Futures CFDs
0 16
Trading Experience
📈 Minimum Stock Trade Size
Unavailable 1 Share
📉 Minimum ETFs Trade Size
Unavailable 1 ETF
📈 Minimum Crypto Trade Size
Varies by crypto (Eg: 0.01 BTC) Varies per Cryptocurrency (Eg: 0.01 BTC)
📉 Minimum FX Trade Size
1 unit of any currency pair (Eg: 1 Euro, 1 USD, 1 GBP, etc) $1,000 (0.01 Lots)
📈 Minimum Commodities Trade Size
Varies by Commodity (Eg: 1 Troy ounce of Gold) Varies per Commodity (Eg: 1 Gold Contract)
📉 Minimum Bonds Trade Size
1 Bond Unavailable
📈 Minimum Futures Trade Size
Unavailable Varies per future (Eg: 1 Contract)
📉 Minimum Options Trade Size
Unavailable Unavailable
💪 Retail Leverage
30 30
💪 Professional Leverage
100 500
✍ Customisable Leverage
Yes No
🎲 Deleveraged Trading
No Yes
🎓 Demo Account
Yes Yes
📱 IOS App
Yes No
📱 Android App
Yes No
📺 MetaTrader 4
Yes Yes
📺 MetaTrader 5
Yes Yes
📺 cTrader
No No
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes No
💻 Proprietary Platform
Yes No
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
No No
👫 Social Trading
No No
🔑 Guaranteed Stop-loss
Yes No
🔨 Trailing Stop-loss
Yes No
Fees
💰 Inactivity Fee

$10 after 1 year of inactivity.

None
💰 Deposit Fees

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.

None
💰 Withdrawal Fees
None None
💰 Commissions
None

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 €)
Spreads
📈 EUR/USD
Dynamic - From 0.8 Pips Dynamic - From 0 to 1.2 Pips
📉 SP500
Dynamic - From 30 Pips Dynamic - From 150 Pips
📈 GOLD
Dynamic - From 26 Pips Dynamic - From 110 Pips
📉 TSLA (Stock CFD)
Unavailable Dynamic - Market Spread
📈 XLK (ETF - CFD)
Unavailable Dynamic - Market Spread
📉 BTC
Dynamic - From $100 Dynamic - From $250
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes No
📡 Reuters Feed
No No
📡 Educational Content
Yes Yes
📡 Live Chat Support
Yes No
📡 Video Tutorials
No No
📡 Account Management
No Yes
📡 Webinars
No No