One-Cancels-the-Other orders are quite an interesting tool that provides a trader maximum flexibility in trading. Inherently, OCO orders are two ordinary pending Forex orders (stop-loss and take-profit). At the same time, they are interlinked by an automated cancel function if one of them is triggered. As a result, you get the opportunity to fix profit and limit losses. The best Forex brokers that support orders of OCO type are gathered for you in this section of TopBrokers.com
Forex brokers with OCO orders
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4.2
/ 5
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73%-77% of retail investor accounts lose money when trading CFDs with this provider.
Specialized trading accounts
24/7 instant money withdrawal
Pros
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Top-Tier Regulation
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Low Forex Fees
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No Withdrawal Fees
Cons
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High Stock CFD Fees
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Limited Product Portfolio
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User Interface Could Be More Intuitive
Withdraw fee
$0
Deposit fee
4.5
Max leverage
1:50
Min deposit
100$
Top Regulators
FCA, CFTC, NFA, CIRO, CIMA, CYSEC
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Available in
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Specialized trading accounts
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24/7 instant money withdrawal
Pros
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Top-Tier Regulation
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Low Forex Fees
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No Withdrawal Fees
Cons
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High Stock CFD Fees
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Limited Product Portfolio
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User Interface Could Be More Intuitive
- Withdraw fee$0
- Deposit fee$0
- Max Leverage1:50
Start trading
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73%-77% of retail investor accounts lose money when trading CFDs with this provider.
Exceptional Execution
US Clients
Scalping
Pros
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OANDA is among the few international online forex brokers that accept U.S. clients.
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The broker’s trading platforms are unique with features of various valuable tools and resources, including the famous Dow Jones Forex Select news and trading calculators.
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OANDA does not require a fixed initial deposit on the standard account.
Cons
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OANDA’s financial offerings have some irregularities that may only suit some traders
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-Trading on OANDA may incur several fees, including a monthly inactivity fee
Withdraw fee
N/A
Deposit fee
4
Max leverage
1:50
Min deposit
N/A
Top Regulators
CFTC, NFA
Add to compare list
trusted
Available in
2
Expand
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Exceptional Execution
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US Clients
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Scalping
Pros
-
OANDA is among the few international online forex brokers that accept U.S. clients.
-
The broker’s trading platforms are unique with features of various valuable tools and resources, including the famous Dow Jones Forex Select news and trading calculators.
-
OANDA does not require a fixed initial deposit on the standard account.
Cons
-
OANDA’s financial offerings have some irregularities that may only suit some traders
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-Trading on OANDA may incur several fees, including a monthly inactivity fee
- Withdraw feeN/A
- Deposit feeN/A
- Max Leverage1:50
24/7 instant money withdrawal
Pros
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Unparalleled Market Access
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Competitive Pricing
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Advanced Trading Tools
Cons
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Steep Learning Curve
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Customer Service Could Be Better
Withdraw fee
N/A
Deposit fee
4.3
Max leverage
N/A
Min deposit
N/A
Top Regulators
FCA, CFTC, NFA, SEC
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Available in
Expand
-
24/7 instant money withdrawal
Pros
-
Unparalleled Market Access
-
Competitive Pricing
-
Advanced Trading Tools
Cons
-
Steep Learning Curve
-
Customer Service Could Be Better
- Withdraw feeN/A
- Deposit feeN/A
- Max LeverageN/A
Specialized trading accounts
Free VPS hosting
24/7 instant money withdrawal
Pros
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Competitive Spreads
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Comprehensive Educational Resources
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Robust Customer Support
Cons
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Limited Deposit and Withdrawal Options
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Occasional Platform Glitches
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Limited Regulatory Oversight in Certain Regions
Withdraw fee
$0
Deposit fee
4.5
Max leverage
1:1000
Min deposit
$5
Top Regulators
No
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trusted
Not available in
4
Expand
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Specialized trading accounts
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Free VPS hosting
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24/7 instant money withdrawal
Pros
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Competitive Spreads
-
Comprehensive Educational Resources
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Robust Customer Support
Cons
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Limited Deposit and Withdrawal Options
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Occasional Platform Glitches
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Limited Regulatory Oversight in Certain Regions
- Withdraw fee$0
- Deposit fee$0
- Max Leverage1:1000
24/7 instant money withdrawal
Specialized trading accounts
Free VPS hosting
High leverage
Pros
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Regulated by Multiple Tier-1 Authorities
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Competitive Trading Conditions
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Wide Range of Trading Platforms
Cons
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Higher Commissions on Certain Platforms
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Limited Educational Resources Compared to Other Brokers
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Not Available Worldwide
Withdraw fee
$0
Deposit fee
4.9
Max leverage
1:10000
Min deposit
$100
Top Regulators
FCA
Add to compare list
trusted
Not available in
5
Expand
-
24/7 instant money withdrawal
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Specialized trading accounts
-
Free VPS hosting
-
High leverage
Pros
-
Regulated by Multiple Tier-1 Authorities
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Competitive Trading Conditions
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Wide Range of Trading Platforms
Cons
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Higher Commissions on Certain Platforms
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Limited Educational Resources Compared to Other Brokers
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Not Available Worldwide
- Withdraw fee$0
- Deposit fee$0
- Max Leverage1:10000
Free VPS hosting
24/7 instant money withdrawal
Specialized trading accounts
Pros
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Strong Regulatory Oversight
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Fast Execution Speeds
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Wide Range of Trading Instruments
Cons
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Platform Complexity for Beginners
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Limited Educational Resources for Advanced Traders
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Limited Demo Account Access
Withdraw fee
N/A
Deposit fee
3.9
Max leverage
N/A
Min deposit
N/A
Top Regulators
ASIC, BaFIN, CYSEC, FCA
Add to compare list
trusted
Not available in
Expand
-
Free VPS hosting
-
24/7 instant money withdrawal
-
Specialized trading accounts
Pros
-
Strong Regulatory Oversight
-
Fast Execution Speeds
-
Wide Range of Trading Instruments
Cons
-
Platform Complexity for Beginners
-
Limited Educational Resources for Advanced Traders
-
Limited Demo Account Access
- Withdraw feeN/A
- Deposit feeN/A
- Max LeverageN/A
Attractive tool for effective risk management
Most often, One-Cancels-the-Other orders are the most useful when there is already an open trading position. However, if necessary, you can also use them at the stage of entering the position. In this situation, everything depends solely on the characteristics of the trading strategy you use. OCO orders allow you to develop a wide variety of combinations, with which you get the opportunity to automatically take the most profitable trading decision depending on the Forex market situation.
It should be noted that the OCO orders are very convenient because of their features. If you set conventional stop-loss and take-profit orders in Forex trading, rather than One-Cancels-the-Other, in case of successful execution of any one of them, the other will continue to be active. As a result, if the Forex market situation changes, its execution could cause unintended opening of a position. With proper use, OCO orders allow the most effective risk management and significantly streamline Forex trading, which will bring maximum profit.