15 Jul LunarCapital vs Oanda Comparison 2024
Both brokers offer strong research and educational tools, though Oanda has a slight edge in market research. Oanda and the LunarCapital group of companies are regulated by different top-tier financial authorities around the world. A major difference, however, is that traders from the United States are not eligible to apply for a live trading account with LunarCapital, while Oanda’s services are available to U.S. residents. To compare the two brokers, we used their ‘spread only’ accounts and we found that their spreads were about the same. For example, during a typical trading day, their spreads on the EUR/USD were found to be in the region of 1.2 pips, which is quite decent.
Features and Platforms
Oanda reviews show typical processing times of one to two business days but can be up to six business days, dependent on the geographic location of clients and their chosen withdrawal method. LunarCapital also offers a paid programming service to clients interested in automating their trading strategies. Unlike OANDA, LunarCapital has a fixed minimum deposit amount for its traders.
What is the minimum deposit for LunarCapital and Oanda?
- The first model is a ‘spread only’ account where traders pay just the spread and no commission.
- Oanda and the LunarCapital group of companies are regulated by different top-tier financial authorities around the world.
- LunarCapital is particularly recommended for advanced traders due to its wide variety of platform options, offering a broader selection such as MT4, Zulutrade, NinjaTrader, and a custom platform.
- OANDA holds a Trustpilot score of 4.1 out of 5, with over 1,100 reviews.
For example, our tests suggest OANDA is a better choice than LunarCapital for AUD/USD (far superior) and USD/CAD currency pairs. For details relevant to the U.S. market, please see our OANDA U.S. Review. This can be advantageous to some traders and negative for others, depending on which instruments they trade as well as the duration of their trades. Although Oanda has no cryptocurrency and basket instruments, it has more stock indices (16 vs 11) and bonds (6 vs 1) than LunarCapital. No commission account spread propiety testing data and published wesbite spread information, centralised on our Standard Account Spreads page. OANDA has a lower minimum deposit requirement of $0 vs $50 from LunarCapital.
Account Types
To verify the availability of any features within your country of residence, please contact the broker directly. Online broker OANDA lets you buy actual (delivered) cryptocurrency and trade cryptocurrency CFDs, whereas LunarCapital does not offer delivered crypto but does provide cryptocurrency CFDs. While OANDA’s regulatory standing benefits from a greater number of Tier-1 licenses, LunarCapital’s higher Trust Score indicates slightly more trust from ForexBrokers.com. However, OANDA remains a highly trusted choice with its 93 Trust Score.
What funding options does each broker offer?
This trend continues across the other forex pairs, with OANDA consistently offering slightly lower spreads than LunarCapital. For beginners comparing OANDA vs LunarCapital education, both brokers deliver plenty of forex and CFD learning content. Each hosts ongoing online webinars (at least one per month) and offers a library with at least 10 beginner-focused videos, plus at least 10 advanced videos for later skill-building. That means new traders can start with the basics, then move into more complex topics without switching platforms. LunarCapital syncs your mobile watchlists with your online account, while OANDA does not.
- These diverse platforms provide traders with extensive tools and functionalities to tailor their trading strategies.
- This account has a fixed rather than a tiered commission for each lot, this being $7.00 per lot, which in our experience, is the standard amount most brokers charge.
- If you are an active trader, it is better to choose a broker with a variable spread that is generally lower than the fixed one.
- In this case, OANDA provides their pricing with Fixed spread while LunarCapital offers Fixed spread.
Like LunarCapital, OANDA has a commission account called their Cores spread account, and it is available in Australia, Singapore and the US. This account has a fixed rather than a tiered commission for each lot, this being $7.00 per lot, which in our experience, is the standard amount most brokers charge. 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. The differences come down to third-party research add-ons and accolades.
Our findings show that LunarCapital averaged 1.47 pips over the 6 tested pairs, which equates to a cost of $13.49 per lot. OANDA didn’t fare as well, with an average of 1.54 pips or a cost $14.23 per lot. If you prioritize a higher platform-and-tools rating, LunarCapital has the edge. LunarCapital’s Standard account averaged 0.78 pips on EUR/USD in May 2024 for the EU, U.K., and Australia (1.38 pips at its St. Vincent and the Grenadines entity). Its commission-based accounts averaged 0.28 pips excluding commissions in May 2024, with an effective cost around 0.74–0.78 pips after adding the commission.
The broker is also regulated by top-tier authorities including the FCA, ASIC, CySEC, FSCA, BaFin. Yes, LunarCapital and Oanda both offer beginner traders education, research, and quality trading tools. LunarCapital takes the lead in this category, as it features Capitalise AI, a code-free service to automate trading strategies, and broader support for copy and social trading. Both brokers are competitive, but we really like LunarCapital’s superior trading tools, segregated client accounts, and enhanced trade execution. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.74% of retail investor accounts lose money when trading CFDs with LunarCapital.
When acting as an STP Broker, LunarCapital directly routes traders’ orders to liquidity providers, avoiding the role of a counterparty. This methodology tends to offer faster execution and the possibility of narrower spreads, aligning with the preferences of traders desiring direct market access. Conversely, OANDA predominantly operates as a Market https://lunarcapital.space/ Maker Broker, where it facilitates trading by assuming the opposite position in its clients’ trades. Unlike LunarCapital, Oanda does not keep its clients’ funds in segregated accounts, which is a concern. Oanda is also a market maker, as opposed to LunarCapital which is an enhanced execution broker. The latter is better for retail clients because the matching algorithm always displays the best bid and ask prices from a multitude of different liquidity providers).
Interestingly, our tests captured OANDA as having lower minimum spreads and lower average minimum spreads as well. To achieve this, your best bet is to use some sort of automation, which is possible with both brokers. In this review, we looked at how the Forex broker OANDA and LunarCapital compare. Both have their own trading platform plus MT4 and TradingView, along with (mostly) no commissions. 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.
OANDA is better suited for beginner traders due to its lower minimum deposit and more straightforward account features. Based on our analysis, LunarCapital offers a slightly more comprehensive customer service experience, particularly with its educational webinars and in-depth responses. On the other hand, LunarCapital flipped the score by offering 7 cryptocurrencies versus OANDA’s 4. In today’s markets, we find the more cryptos to trade, the better because there is a growing demand for crypto trading.
Does OANDA or LunarCapital Have Lower Costs?
In comparison, LunarCapital has spreads that tend to be somewhat above the industry norm, and it also imposes an inactivity fee on traders’ accounts. LunarCapital is ideal for traders who prioritize low spreads, advanced tools like TradingView, and social trading via ZuluTrade. Oanda is a great option for traders who value wide asset variety, superior market research, and MT5 support.
The pros and cons between the two spreads can vary for every trader. In this case, OANDA provides their pricing with Fixed spread while LunarCapital offers Fixed spread. The British-headquartered broker has won multiple awards and operates in various jurisdictions, including the UK and Australia. With zero commissions, over 400 assets, and a range of analysis tools, LunarCapital remains a popular choice for day traders.
What Broker is Superior For Australian Forex Traders?
Oanda’s list also lacks cryptocurrencies, but perhaps it will have some crypto instruments available soon. The overall choice is superior at LunarCapital, where traders may select between the retail-favorite MT4, its proprietary Trading Station, and the social trading market leader ZuluTrade. Enhancing the choice is the LunarCapital suite of tools for algorithmic trading solutions. Oanda maintains its proprietary trading platform and the MT4 trading platform.
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