Written by ForexBrokers.com
In this head to head comparison of OANDA vs TeleTrade, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Established in 1996, OANDA is an online broker with a strong reputation in the financial services industry. Not publicly traded or operated as a bank, it has earned a Trust Score of 93 out of 99 according to ForexBrokers.com, placing it in the highly trusted category. A significant factor in OANDA's reputation is its possession of 7 Tier-1 licenses, which are regarded as the gold standard for trust and safety in the industry.
TeleTrade, founded in 1994, is also a non-publicly traded online broker without banking operations. Its Trust Score is rated at 71, indicating an average risk level. TeleTrade holds 1 Tier-1 license but no Tier-2 licenses, reflecting its relatively moderate standing when compared to OANDA. Both brokers are established names in the field, but OANDA's regulatory backing suggests a higher level of security and confidence for users.
| Feature |
OANDA
|
TeleTrade
|
|---|---|---|
| Year Founded | 1996 | 1994 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
OANDA and TeleTrade offer competitive online brokerage services, each with its own strengths regarding commissions and fees. OANDA is known for its higher forex trading costs, with effective spreads that are generally above the industry's best. Its primary advantage lies in automated execution across accounts. The default bid/ask spreads are comparable to brokers like FOREX.com and FxPro, though slightly higher than those offering sub-pip spreads. While OANDA has a core pricing option with lower spreads and a commission of $5 per $100,000 traded, this requires a $10,000 minimum deposit. Despite this, the overall core pricing remains slightly more cost-effective than OANDA's commission-free pricing option. Moreover, OANDA's Elite Trader program offers volume rebates and perks like subscription reimbursements, enhancing its appeal for high-volume traders.
In contrast, TeleTrade does not provide detailed average spread data, making direct comparisons challenging. Both brokers have received a commendable rating of four out of five stars for their commissions and fees. However, their rankings differ on ForexBrokers.com; OANDA holds the 34th position out of 62 brokers, whereas TeleTrade is ranked 46th. This suggests that while both are reliable, OANDA's offerings may be more favorable for traders prioritizing comprehensive execution features and volume-based rebates.
Despite the absence of precise spread data for TeleTrade, OANDA’s transparency efforts, such as publishing trailing average spreads, allow traders to make more informed decisions. Nevertheless, the choice between OANDA and TeleTrade should ultimately be guided by individual trading needs and preferences for spreads, execution quality, and additional benefits like rebate programs.
| Feature |
OANDA
|
TeleTrade
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.61 | N/A |
| All-in Cost EUR/USD - Active | 1.61 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing OANDA and TeleTrade for their range of investments, both brokers offer forex trading as CFDs or spot contracts, providing a solid avenue for currency trading. OANDA stands out by offering a wider selection with 3928 tradeable symbols, including 68 forex pairs, compared to TeleTrade’s 500 symbols and 61 forex pairs. However, neither broker facilitates direct investment in exchange-traded securities on U.S. or international exchanges, limiting options for those looking to buy shares like Apple or Vodafone directly.
In terms of unique features, both OANDA and TeleTrade provide copy trading options, allowing investors to replicate the trades of experienced traders. However, OANDA goes a step further by allowing clients to buy actual cryptocurrencies, offering more flexibility compared to TeleTrade, which only supports cryptocurrency derivatives. OANDA is rated slightly higher with 4 stars versus TeleTrade’s 3.5 for the range of investments, ranking 27th out of 62 brokers, while TeleTrade is ranked 45th, reflecting OANDA's more comprehensive offering in this category.
| Feature |
OANDA
|
TeleTrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3928 | 500 |
| Forex Pairs (Total) | 68 | 61 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing the trading platforms and tools offered by OANDA and TeleTrade, both brokers provide versatile options that cater to beginners and experienced traders alike. OANDA stands out with its proprietary platform, offering a tailored experience developed in-house. Both OANDA and TeleTrade accommodate different trading preferences by providing Windows-based desktop platforms and web-based platforms. Users keen on simulated trading will appreciate that both brokers offer free virtual demo accounts to hone their skills. For those interested in social trading, both brokers support copy trading, with TeleTrade additionally offering access to ZuluTrade.
Charting capabilities differ significantly between the two, as OANDA offers a substantial 431 drawing tools compared to TeleTrade's 15, granting traders greater flexibility and precision. Although both provide six-star trading rankings, OANDA is notably ranked higher at #16 compared to TeleTrade's #51 in ForexBrokers.com's list of 62 brokers. Despite these differences, both platforms ensure comprehensive trading experiences by supporting popular external software like MetaTrader 4 and MetaTrader 5, and facilitating trading directly from stock charts.
| Feature |
OANDA
|
TeleTrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 81 | 35 |
| Charting - Drawing Tools (Total) | 431 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Choosing between OANDA and TeleTrade for mobile trading can enhance your forex and stock trading experience. Both brokers provide iPhone and Android apps equipped with essential features like price alerts and trendline drawing on charts. While charting capabilities are a priority for many traders, OANDA offers 30 technical studies compared to TeleTrade’s 35, and both platforms support viewing multiple time frames. Mobile app users will appreciate that drawings are auto-saved, and watchlists can be created with real-time quotes, although neither platform supports syncing watchlists between the app and a user's online account.
When examined for overall performance and user satisfaction, OANDA scores a perfect 5-star rating for its mobile trading app, reflecting its place as the 7th best among 62 brokers according to ForexBrokers.com. On the other hand, TeleTrade receives a commendable 4 stars, ranked 25th, indicating it may cater to slightly different user preferences. For those prioritizing app ranking and broad technical capabilities, OANDA stands out slightly more, but both services ensure a comprehensive mobile trading experience.
| Feature |
OANDA
|
TeleTrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 35 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of online brokers OANDA and TeleTrade, there are a few key differences and similarities that traders might consider. Both platforms provide daily market commentary and access to forex news from respected sources like Bloomberg, Reuters, and Dow Jones. This ensures that traders on both platforms have access to timely and accurate information. An economic calendar is available on both OANDA and TeleTrade, providing crucial updates on global news events which are vital for informed trading decisions.
However, OANDA takes a step further by offering technical analysis tools from Autochartist, which TeleTrade does not provide. Additionally, OANDA offers a sentiment-based trading tool to view the ratio of long and short positions across different currency pairs, a feature absent in TeleTrade's offerings. These extra tools contribute to OANDA's higher research rating of 5 stars compared to TeleTrade's 3.5 stars. Furthermore, this excellence in research is reflected in OANDA's rank, standing at #5 out of 62 brokers, while TeleTrade ranks #38, indicating OANDA's superior position in providing comprehensive market insights for traders.
| Feature |
OANDA
|
TeleTrade
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources provided by OANDA and TeleTrade, OANDA appears to be a more beginner-friendly choice. OANDA stands out by offering over ten educational pieces dedicated to forex and CFDs. They also conduct client webinars monthly and have an easily accessible archive of these past sessions. Further supporting beginners, OANDA offers at least ten video tutorials designed specifically for novice traders and an extensive dictionary covering over fifty investing terms. For more experienced traders, OANDA provides advanced educational videos to enhance trading knowledge. As a result, OANDA received a commendable 5-star rating for its educational offerings.
In contrast, TeleTrade falls short in many of these areas. They do not meet the minimum provision of ten pieces on forex or CFDs education, nor do they offer regular monthly webinars or a searchable archive of past webinars. TeleTrade also lacks a sizable collection of educational videos targeting beginners and seasoned traders alike, and they do not provide a comprehensive investor dictionary. This results in a moderate rating of 3.5 stars for their educational resources. According to ForexBrokers.com, the significant difference in educational quality is reflected in their rankings, with OANDA securing the 22nd spot out of 62 brokers, while TeleTrade ranks substantially lower at 61. Overall, OANDA offers a richer educational experience for those new to trading.
| Feature |
OANDA
|
TeleTrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that OANDA is better than TeleTrade. OANDA finished with an overall rank of #12, while TeleTrade finished with an overall rank of #50.
A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.
| Feature |
OANDA
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TeleTrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 71 |
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OANDA allows users to buy both actual delivered cryptocurrency and cryptocurrency derivatives, whereas TeleTrade offers only the option to buy cryptocurrency derivatives.
When comparing online brokers OANDA and TeleTrade in terms of funding options, OANDA provides greater flexibility with support for ACH, SEPA, and PayPal transactions (in addition to Skrill, Visa, Mastercard, and bank wires which both brokers offer), while TeleTrade lacks ACH, SEPA, and PayPal options but also supports Skrill, Visa, Mastercard, and bank wires.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | OANDA | TeleTrade | |
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| Trust Score | 93 | 71 | |
| Winner | check_circle | ||
| Review | OANDA Review |
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| Regulation | OANDA | TeleTrade | |
|---|---|---|---|
| Trust Score | 93 | 71 | |
| Year Founded | 1996 | 1994 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | OANDA | TeleTrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | OANDA | TeleTrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | OANDA | TeleTrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3928 | 500 | |
| Forex Pairs (Total) | 68 | 61 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | OANDA | TeleTrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.61 | N/A | |
| All-in Cost EUR/USD - Active | 1.61 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | TeleTrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | OANDA | TeleTrade | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | OANDA | TeleTrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 81 | 35 | |
| Charting - Drawing Tools (Total) | 431 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | TeleTrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 35 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | OANDA | TeleTrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | TeleTrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | OANDA | TeleTrade | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | OANDA Review |
| Overall | OANDA | TeleTrade | |
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| Trust Score | 93 | 71 | |
| Winner | check_circle | ||
| Review | OANDA Review |
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