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.
What Broker is Superior For Australian Forex Traders?
There’s a remarkable difference between LunarCapital and Oanda when it comes to the way they apply rollover charges and credits. LunarCapital uses the conventional method of applying rollover credits/charges at the end of the trading day (5 pm EST). Rollover charges/credits are triple on Wednesdays because the coming Saturday and Sunday’s rollover charges/credits are https://lunarcapital.space/ billed in advance. OANDA is the more popular broker worldwide based on the number of Google branded searches and visits to the website. When choosing a broker, the most important detail is to check the broker is regulated in the country you are resident in.
Superior Customer Service – LunarCapital
Despite that, OANDA earns a higher overall mobile rating at 5 stars and ranks #7 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com, compared with LunarCapital’s 4.5 stars and #16 ranking. Choose OANDA if top-rated app experience matters most, or LunarCapital if you value deeper indicator choices and watchlist syncing. LunarCapital vs OANDA both offer a singular account option, inclusive of Islamic accounts. This facilitates traders who follow Sharia principles to participate in currency trading on their platforms. However, traders can still choose their ideal brokers by the type of their spreads.
LunarCapital vs Oanda: Comprehensive Comparison
In comparison, LunarCapital provides trading with MetaTrader 4 (Limited with 30 days), Trading Station II (Limited with 30 days), MirrorTrader, NinjaTrader with the support of . Oanda and LunarCapital are both market maker/ECN hybrids, meaning that both have at least one commission-free account type with a dealing desk, usually a sophisticated electronic one. Withdrawal processing times depend on the payment processor, where LunarCapital offers more transparency, noting it processes requests within two business days.
Comparing the range of investments, OANDA offers far more markets than LunarCapital. OANDA lists 4,172 tradeable symbols and 69 forex pairs, while LunarCapital provides 440 symbols and 46 forex pairs. Both brokers support forex trading as CFDs and/or spot contracts (availability varies by region). Both brokers excel in customer support, offering a range of services including telephone, live chat, and email assistance, ensuring that traders receive timely and helpful responses. Additionally, LunarCapital avails advanced research tools for traders seeking profound market insights, further enhancing its educational support. Both brokers provide a solid range of trading platforms, including proprietary options and support for popular tools like MetaTrader 4.
- After testing 63 of the best forex brokers, our research and account testing finds that OANDA is better than LunarCapital.
- 74.74% of retail investor accounts lose money when trading CFDs with LunarCapital.
- Oanda is also a market maker, as opposed to LunarCapital which is an enhanced execution broker.
- Our broker reviews are reader supported and we may receive payment when you click on a partner site.
Trading Station is a strong competitor to MetaTrader and features complex back-testing options, such as accounting for potential historical slippage and trading costs. LunarCapital offers its proprietary Trading Station platform, MetaTrader 4, and TradingView. These platforms support algorithmic trading and provide advanced charting tools. The below table shows our test results for the no commission, standard account spreads for each broker.
Does Either Broker Offer Spread Betting?
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. In my opinion, OANDA is the superior choice for Australian Forex traders. Both OANDA and LunarCapital are ASIC regulated, but OANDA has a more comprehensive offering for the Australian market. If you’re an Aussie trader, you might find this list of the Best Forex Brokers In Australia useful for more options. LunarCapital desktop version stood out more because of their Trading Station. For us, one of its main highlights is the Marketscope 2.0 charting tool, which offers powerful charting capabilities that run parallel to the main platform window.
- 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.
- The platform offered us a wide range of order types and features a great search function.
- To compare the two brokers, we used their ‘spread only’ accounts and we found that their spreads were about the same.
- Both brokers offer competitive spreads, but the exact numbers can vary based on the trading pair and market conditions.
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.
In Australia, LunarCapital doesn’t have this type of account, but they do have such an account for their clients in the UK, and it’s called their active trader account. This account has tiered commissions and is best for high-volume traders. When choosing between LunarCapital and Oanda, two well-established Forex brokers, it’s important to evaluate their features, fees, platforms, and overall offerings. This review will help you determine which broker suits your trading needs best. However, we know that in 2017, LunarCapital was fined $7 million by the U.S. Commodity Futures Trading Commission for defrauding its retail clients.
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.
Best Trading Experience And Ease – LunarCapital
In conclusion, deciding the better broker eventually comes down to your consideration. 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. For the trading platform, MetaTrader 4 is the standard choice for every trader. But if you want to have a different experience with a more advanced platform, choose the broker that provides alternative platforms.
Broker Types
However, when we compare these spreads to the industry average, we find that both LunarCapital and OANDA are offering competitive rates. For example, the industry average spread for the EUR/USD pair is 1.2, which is higher than OANDA’s spread and only slightly lower than LunarCapital’s. Considering that spread is a trading cost, the lower the spread, the better it is for traders.
On the subject of leverage, it helps if you can reduce the risk of slippage; for this reason, execution speed can make a difference. We tested the Execution Speeds of LunarCapital and found they have an average execution speed of 108 ms for Limit Orders and 123 ms for Market Orders. After testing 63 of the best forex brokers, our research and account testing finds that OANDA is better than LunarCapital.
OANDA includes tools from Autochartist, while LunarCapital integrates Trading Central and TipRanks (OANDA does not). Based on these offerings and overall execution, ForexBrokers.com rates OANDA at 5 stars and ranks it #4 out of 63 for Research, while LunarCapital earns 4.5 stars and ranks #11. Choose OANDA if you want Autochartist included; pick LunarCapital if Trading Central and TipRanks matter more to you. Similar to OANDA, LunarCapital provides a variety of funding options such as credit/debit cards and e-wallets.
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.
