Overall, Forex.com offers a comprehensive list of forex pairs that no other US MT4 broker can match. By comparison, OANDA offers roughly 70 FX pairs, IG 80 FX pairs and only 38 FX pairs with ATC Brokers. Beyond currency pairs, FOREX.com offers CFDs on several asset classes, but only to non-residents DotBig review of the USA because it is against US securities law. This means that CFDs on cryptocurrencies like Bitcoin, CFDs on stock indices or CFDs on commodities are not available for US traders. The brokerage provides access to the Forex market and to Spot Metals and CFDs via a single trading account.
- The NFA/CFTC allows futures trading and MT4 can handle futures trading but at this time we have not covered any broker that offers futures trading on MT4.
- OANDA uses price improvement technology to give forex traders using MT4 an advantage in the market.
- If algo trading interests you then we recommend comparing the best-automated trading software page.
- OANDA offers MetaTrader 4 users access to a number of powerful enhancements, including additional technical indicators and Expert Advisors .
- In terms of trading costs, IG claims its EUR/USD spread is 20% lower than the competition, which is hard to beat.
- As a Senior Financial Analyst for Alphabet with an active CPA, Riley has a vast amount of financial knowledge.
Instead of an exchange of the asset, you receive a contract which is like a representation of its value. US traders can also have peace of mind DotBig LTD with FOREX.com’s reliable order execution (99.99% fill rate of less than 1s) and can access the popular TradingView charting program for free.
Oanda: Our Verdict
OANDA does not require a minimum deposit to open an account, and allows American account holders to fund their accounts via debit card, ACH transfer and wire transfer. Regardless of how the account receives funds, OANDA account holders pay no fees.
Traders pay a commission of USD 10.00 per round-turn trade of a standard lot, but enjoy tighter variable spreads that start as low as 0.1 pips. With over 20 years of investing experience and 10 years of trading, Justin co-founded Compare Forex Brokers in 2014. He has worked within the foreign exchange trading industry for several years and for several of the largest banks globally. Justin achieved Honours in Commerce and has a Master’s degree from Monash University. He also owns Innovate Online offering digital marketing services with over 20 employees. 💳 Copy TradingTrading signals to automatically copy other traders in real-time.
Oanda Is The Best Mt4 Broker For Us Traders
OANDA offers MetaTrader 4 users access to a number of powerful enhancements, including additional technical indicators and Expert Advisors . MetaTrader 4 is a trading platform that allows you to buy and sell a wide range of assets and derivative products such as forex, stocks, indices and commodities such as gold, silver and https://finviz.com/forex.ashx energies. Since Contracts for difference trading is not permitted by the derivatives regulators of the United States, the NFA and CFTC, MT4 are not well known in the US. Active traders that generate a minimum of 500k in notional trading volume per month can access free VPS hosting solutions to run EAs uninterruptedly.
It operates an ECN pricing model and ensures no dealing desk execution of client trades. Forex.com uses a market maker model, meaning commission costs are included as part of the spread. Above-average execution speeds and an impressive array of extras and premium features for MT4 users make OANDA the logical choice for US forex traders committed to the MetaTrader family of platforms. American forex traders will find everything they need in OANDA’s selection of currency pairs. There are 9 different EAs including an alarm Manager and a Correlation Matrix plus 15 technical indicators like Candle Countdown or Chart-in-chart tool all powered by FX Blue.