OneTrade Forex Trade Platform and Broker Review

OneTrade Forex Trade Platform and Broker Review

Rate this post

One Trade Broker Review

OneTrade is a 100% STP/DMA Forex broker regulated in the United Kingdom by the Financial Conduct Authority (FCA) to offer trading of Forex, commodities, and indices on advanced trading platforms like MT4.

OneTrade was first founded in the UK in 2010 and today has headquarters in London. OneTrade has approximately 50 employees in its team. 

Is OneTrade Regulated?

Yes, OneTrade is regulated by the Financial Conduct Authority (FCA) in the United Kingdom. 

According to the broker’s website, OneTrade is under regulation as a Matched Principal Broker (i.e. 100% Agency Model), which may not hold any proprietary positions, and is therefore only acting as an intermediary between its Clients and Liquidity Providers.

OneTrade’s regulations guarantee the stringent standards set by the FCA, which include submitting financial reports on a regular basis and undertaking detailed annual audits. This includes ensuring that client funds are held in a quality Tier 1 bank approved by the FCA.

Is OneTrade Regulated in the United States?

No, OneTrade is not regulated in Virginia or any other US state. 

Is OneTrade Regulated in Europe?

Yes. OneTrade’s parent company, FXStat Ltd, has been regulated in Europe since 2018 by the BaFin, CNMV, AFM, CONSOB, CySEC, CNB, ACP, FI, and KNF. In Europe, OneTrade offers cross-border investment services as a regulated Forex broker Europe. 

Is OneTrade regulated in a Tier-1 Jurisdiction?

According to the OneTrade website, OneTrade is regulated under Tier-1 jurisdiction. 

This regulation means that the broker is licensed to operate in one or more of the following countries: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Israel, Japan, Luxembourg, Netherlands, New Zealand, Norway, Puerto Rico, Singapore, Sweden, and Switzerland.

Is OneTrade regulated in Tier-2 Jurisdiction?

According to the official OneTrade sources, OneTrade is regulated under Tier-2 jurisdiction. 

This jurisdictional regulation means that OneTrade can operate in a licensed manner in one or more of the following countries:  British V.I., Cayman Islands, Cyprus, Italy, Malaysia, Mexico, Poland, Portugal, Spain, and Taiwan.

What are the Platforms and Tools for Forex Trading in OneTrade?

OneTrade offers traders several advanced and feature-rich trading platforms, consisting of MetaTrader 4, WebTrader, Social Trading Platform, MAM, Copy Trading, and FIX API. 

  1. MetaTrader 4 from OneTrade suits traders of all levels and trading requirements. Some of the key competitive advantages of MetaTrader4 are:
    • Multi-Asset Trading – Trade on FX (foreign exchange), Oil (WTI, Brent & Gas oil), Silver, Gold and Indices
      • Simple Overview – A Layout designed to show you your trade tickets, open positions, and charts at a single glance
      • All from one Screen – The ability to keep an eye on the markets and your trading performance all from one screen
      • Multilingual platform interface -English, German, French, Russian, Arabic, Spanish, Chinese, Polish, Turkish, Indonesian, and many more
  2. WebTrader from OneTrade allows users to trade online anywhere without an installed MT4 client terminal. The platform synchronizes with your MT4 and acts as an alternative trading interface. Added to this, all linked accounts will generate an automatic “Performance page” which you can access directly from the platform.
  3. The Social Trading, or Social Investment Platform from OneTrade innovative features that can provide you, or your fund the potential for ongoing profits while having a diversified portfolio by investing in Trader Leader Strategies.
  4. The MAM platform from OneTrade is designed for money managers. It is essentially an integrated software tool that can quickly execute block orders with just one click under a master account arrangement.
  5. The Social Copy Trader from OneTrade allows investors from all over the world to link together into a single integrated network and use their collective trading insights to trade smarter and achieve results.
  6. The FIX API platform from OneTrade is an ideal service for those looking to take liquidity from across multiple anonymous ECNs and MTF, making use of aggressive and passive orders, all via a single FIX API.

Does OneTrade Have a News Blog for Forex News?

No, OneTrade does not have a News Blog for Forex news. Many brokers offer a dedicated news blog directly from their websites which will allow users to remain abreast of impactful economic developments from around the world. 

Does OneTrade Have a Traders Dashboard?

No, OneTrade does not offer a Traders Dashboard. Some brokers provide a Dashboard that allows traders to access centralized data streams for efficient and streamlined monitoring of market movements and currency prices. 

Does OneTrade Have an Educational Section?

No, OneTrade does not provide an Educational Section. Many brokers do offer free education which will allow beginner traders to improve their skills and grow their trading career alongside the broker. 

What is the content of OneTrade Forex Education?

OneTrade does not offer Forex Education. However, the broker does offer a Performance Page. The Performance Page includes over 200 statistical and analytical tools that allow users to identify their strengths or weaknesses in a short amount of time.

OneTrade’s algorithms rate each performance page independently. The broker then grades the experience, risk, discipline, return, and scalability for each connected account from 0-10. All 5 grades are summarised into a 0-100 score.

Is OneTrade Legit?

Yes, OneTrade is a legit Forex Broker and Trade Platform. OneTrade has FCA legal certificates to perform Forex Broker and trading services.

The broker’s parent company FXStat Ltd has BaFin, CNMV, AFM, CONSOB, CySEC, CNB, ACP, FI, and KNF licenses

Is OneTrade Safe?

OneTrade, and its parent company FXStat Ltd, is a reliable and safe Forex Trade platform in terms of its regulation and safety protocols. The broker is regulated in several global jurisdictions, as described below:

  • The FCA regulates OneTrade in the United Kingdom
  • CySEC regulates FXStat Ltd in the cross-border European Economic Area
  • BaFin, the agency for central oversight of financial services in Germany, regulates FxStat in Germany
  • The CNMV regulates FxStat Ltd in Spain
  • The AFM regulates FxStat Ltd in the Netherlands
  • CONSOB regulates FxStat Ltd in Italy
  • FI regulates FxStat Ltd in Sweden
  • The KNF regulates FxStat Ltd in Poland
  • CySEC regulates FxStat Ltd in Cyprus
  • The CNB regulates FxStat Ltd in the Czech Republic
  • The ACP regulates FxStat Ltd in France

OneTrade performs daily client money reconciliations in accordance with FCA requirements. This process ensures that the segregated client funds accurately reflect retail client assets.

OneTrade passes all trades to the market. It also never uses retail client money to fund any part of its business.

Is OneTrade a Good Broker?

Yes. According to the Forex Suggest review, for security, and trading speed, OneTrade is a good broker. 

  1. In terms of trading speed, OneTrade offers fast execution through its STP/DMA model.
  2. In terms of security, OneTrade is very well regulated in the United Kingdom by the Financial Conduct Authority (FCA), while the broker’s parent company is extensively regulated in the European Economic Area. 
  3. In terms of online support, OneTrade falls short as it does not offer a live chat option for its clients, who will have to contact the support team through email or telephone.  
  4. In terms of cryptocurrencies, OneTrade does not provide access to the crypto asset market at this stage. 

What is the Offering of Investment in OneTrade?

Offerings of OneTrade can be found below.

Feature OneTrade
Forex Trading Yes
CFDs Yes
Forex Pairs Yes
Cryptocurrency (Physical) No
Cryptocurrency (CFD) No
Social Trading  Yes

Does OneTrade have Nasdaq?

No, OneTrade does not offer traders the option of trading CFDs on the Nasdaq 100 Stock Index. 

The Nasdaq is an American stock index that includes 100 of the largest domestic and international non-financial companies listed on the Nasdaq Stock Market based on market capitalization.

What are the Awards of OneTrade?

According to the official sources and Forex Trading platforms, OneTrade does not have any awards listed to date. 

How to Use OneTrade for Forex trading?

To use OneTrade, a forex trader should have the necessities below:

  1. A copy of their identification documents
  2. They should be 18 years or older and should not be a member of the United States, where the broker does not offer its service
  3. They should be able to afford the minimum deposit of $100

If a Forex Trader has the conditions above, they can open a forex trading account to use OneTrade. 

How to open a Forex trading account with OneTrade?

To open a Forex Trading account with OneTrade, a trader should follow the steps below.

  1. Fill in the online application form on the OneTrade website, which should take no more than 5 minutes to do.
  2. OneTrade will then have to do an assessment of your circumstances to make sure that trading risky and complex financial products are suitable and appropriate for you.
  3. Under FCA regulatory requirements OneTrade will need to do a check of your identity.
  4. Once OneTrade has verified your ID, your account will be opened and OneTrade will wait for your initial deposit
  5. There will be no checks for a demo account. Just fill out the online form and you can begin to use your demo account

What is the Forex Trader Account Types with OneTrade?

Forex Trading Platform and Financial Asset Management Institution OneTrade have 3 different account types. Every Forex trading account type has different features and conditions with OneTrade. 

OneTrade Account Types are listed below. 

  1. Demo Account

  2. Live Account

  3. Corporate Account

  • Demo Account

The demo account from OneTrade will allow users to test out the trade features on the MT4 platform against the broker’s trading conditions. This will allow users to ascertain whether a live trading account would suit their trading needs before opening a real account. 

  • Standard Account

OneTrade offers one type of Standard Account for all retail traders. Using this account, every private client will benefit from the same trading features and advantages, which are listed below. 

  • Complete technical analysis package – Wide range of inbuilt indicators and charting tools, the ability to create various custom indicators, different time periods (from minutes to months)
    (EAs) – MetaQuotes Language 4 (MQL4) facilitates the use of online Expert Advisors for efficient, automated trading processes
    Guides – Extensive tutorials on how to use the MT4 platform
    MT4 Mobile – Available on iPhone and Android
  • Low trading latency
  • Integrated activity stream to see what others are trading
  • One-click trading
  • Trailing stop-loss
  • One-click close all positions
  • Online access 24/7
  • Copy the trades of experienced traders directly into your account
  • Individually set risk parameters
  • Connect to the worldwide trading community
  • Corporate Account

Institutional clients have the option of opening a tailored corporate account with OneTrade. Such clients should email the brokerage if they wish to open a corporate account. 

How to Withdraw Money from OneTrade?

To withdraw money from OneTrade, the following should be done:

  • Withdrawals can be made through a bank wire to an account held by the same person as the OneTrade account.
  • Withdrawals can be made also by Skrill/credit/debit card up to 5000 EUR / USD / GBP per account holder per day. 
  • Withdrawals will be processed using the method that was used for the deposit. Card deposits can only be withdrawn to the same card and only up to the amount deposited by card and within 30 days of deposit. 
  • Bank transfer withdrawals, as well as profits earned at OneTrade, can be withdrawn to a bank account in the name of the account holder.

How many days do deposits take with OneTrade?

Deposit times will vary depending on the chosen deposit method. Bank wire transfers can take up to 3 days. E-payments are processed within the same day. 

What are the costs and fees with OneTrade?

There are three types of costs with OneTrade. Commission costs are charged per round trade, spread costs are charged directly from the market, and swap costs are financing for positions held open overnight. 

A Forex Trading Cost is charged by a broker to the trader as a fee for using its services and is how most brokers make their profit. 

Forex Trading Costs consist of spreads, commissions, and swaps. Some brokers have additional charges, such as inactivity fees or financing fees.  

The Forex Trading Fees with OneTrade are below. 

Spreads: 

  • Spreads start from 0 pips depending on the instrument being traded

Commissions:

  • Commissions are charged at $0.40 per mini lot per one side trade, which amounts up to $8 per round lot traded

Swaps:

  • For Forex trading you may be debited or credited for any positions left open into the next trading day. The amount you pay or receive is based on the interest rate differential between the currencies being traded. 
  • This operation is called a “swap” charge. Swap charges are automatically converted into the currency of the client’s trading account in the MT4 trading terminal.
  • The fees will be charged at 22:00 London time (BST time). The fees will be charged for any position open at this time.

What are the Trading Fees with OneTrade?

Apart from the spreads, commissions, and swaps, OneTrade has additional overnight financing charges which are described below. 

For non-FX cash markets, an overnight financing charge is applied on a daily basis to reflect the interest cost of holding your position.

While it is normal for equity and index long positions to incur debt and for short positions to receive a credit when overnight financing is applied, there are times when you may be debited for a short position, for example when interest rates are very low.

What is the minimum deposit in OneTrade?

The minimum deposit amount required in order to open a Forex Trader account with OneTrade is $100. 

What are the contract specifications in OneTrade?

Feature OneTrade
Forex Trading Yes
CFDs 700+
Forex Pairs 50+
Cryptocurrency (Physical) 0
Cryptocurrency (CFD) 0
Social Trading  Yes

Does OneTrade have promotional offers?

No, OneTrade does not provide promotional offers or bonuses to its new or existing clients. 

This is primarily due to the fact that the broker is regulated by the Financial Conduct Authority (FCA). The regulator has restricted the offering of promotions as part of extended client protection measures. 

Does OneTrade have a welcome bonus?

No, OneTrade does not offer a welcome bonus.

However, OneTrade is one of a handful of Forex brokers in the industry that offers a 100% STP/DMA model

This means that the broker follows the Agency Model and exclusively acts as a Matched Principal Broker (100% DMA/ STP). OneTrade does not hold any proprietary positions and acts solely as an intermediary between its clients, liquidity providers, and major exchanges.

Does OneTrade have a deposit bonus?

No, OneTrade does not offer a welcome bonus.  This is due to the fact that OneTrade’s regulators restrict the broker from offering a deposit bonus. 

Is there a commission-free trade bonus in OneTrade?

No, OneTrade does not offer a commission-free trade bonus. However, the broker does allow for commission-free deposits, although traders will still incur fees from their own payment provider.   

Is there a VIP bonus in OneTrade?

No, OneTrade does not offer a VIP bonus. The broker does cater to institutional clients, who can apply for a corporate account for specialized trading solutions.  

Can you start trading with no money at OneTrade?

No, you cannot start trading with no money at OneTrade. This is because OneTrade does not offer a any deposit bonus, therefore traders will need to deposit their own funds when opening a Trader Account.

How does leverage work with OneTrade?

Forex Leverage is a way for a trader to trade much bigger volumes than he would, using only his own limited amount of trading capital. The size of leverage is not fixed at all companies, and it depends on trading conditions provided by a certain Forex broker.

Traders can use leverage with OneTrade by logging into their account settings and choosing the leverage ratio that they would prefer. 

Where are the headquarters of OneTrade?

OneTrade is headquartered in London, the United Kingdom

Who is OneTrade’s CEO?

The CEO of OneTrade is Sarmad Daneshmand. He has a history of working in management, trading systems, Foreign Exchange (FX), CFDs, options, equity trading, equities, and capital markets, amongst other relevant financial areas. 

What are the social media accounts of OneTrade?

Traders can follow OneTrade on the following social media accounts:

  • Twitter
  • Facebook
  • YouTube
  • LinkedIn

How many employees do work for OneTrade?

According to the official Linkedin profile, OneTrade has over 50 employees.

What are the opinions about OneTrade?

OneTrade offers a large variety of different products, including Commodities, Currencies, Metals, and Indices.

Offering proprietary technology, and liquidity connections with the world’s leading banks, non-banks, MTF (LMAX), and ECNs (HotSpot, FastMatch, and Currenex), OneTrade offers tailored liquidity across asset classes, with competitive spreads. 

This makes OneTrade an excellent choice for experienced and professional traders. Beginner traders may find some of the broker’s offerings too advanced. 

What are OneTrade Contests?

OneTrade does not run any kind of Forex Trading Contests. Forex Contests can be performed for brokers who offer them to traders to profit on contest winnings. 

OneTrade didn't perform any Forex Contest in the past. For future forex exchange contests and competitions, OneTrade didn't perform any official announcements yet.

Does OneTrade have online support?

No, OneTrade does not offer a live chat option for online support. Clients will have to contact the broker through email or telephone. 

Does OneTrade offer demo accounts for Forex trading?

Yes, OneTrade offers a free demo account for all new traders. The demo account can be opened with the following steps:

  1. Go to the demo account registration page on the broker’s website
  2. Fill out the registration form with the required information, which will include your full name, email address, and contact details
  3. Once you have submitted the registration form, you will be granted immediate access to your demo account.

Does OneTrade have a mobile app for Forex trading?

Yes, OneTrade offers mobile trading through the MT4 app.

The OneTrade app from MetaTrader 4 provides the following distinct features:

  • Real-time streaming quotes
  • Interactive charts with zoom and scroll
  • Ability to trade directly from the chart
  • Full set of trade orders, including pending orders
  • Trading history
  • A range of technical indicators (such as Bollinger Bands, MACD, Moving Average, Relative Strength Index, Stochastic Oscillator)
  • View and amend multiple Watch Lists
  • Offline mode (symbol prices and charts)
  • Multiple languages, including Chinese, Spanish, and Arabic

Does OneTrade publish an economic calendar?

An economic calendar is a useful tool that allows traders to monitor upcoming financial announcements and events that may impact currency prices around the world. 

OneTrade does not offer an economic calendar, however, the broker’s various trading platforms come with a number of advanced inbuilt analytical features. 

What is the communication information of OneTrade?

OneTrade has one telephone number and one local address. 

OneTrade’s main telephone number is: +44 (0) 203 582 3171

OneTrade’s main local address is One Broadgate Circle, London, EC2M 2QS, United Kingdom.

 

Table of Contents